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Loan Processor in Brooklyn, NY

Loan Processor Job Description

Loan processors review, verify and prepare loan applications for approval. They serve as a liaison between borrowers, loan officers and underwriters to ensure all documentation is accurate, complete and compliant with regulatory standards. This role is essential for maintaining efficient loan operations and delivering a smooth customer experience.

Typical loan processor duties:

Review loan applications and supporting documentation for accuracy and completenessVerify borrower information, including income, employment, credit and assetsCommunicate with applicants to request missing information or clarify discrepanciesPrepare and submit loan files to underwriters for approvalEnsure compliance with lending regulations, company policies and investor guidelinesCoordinate with loan officers, underwriters, title companies and other third partiesTrack loan statuses and provide timely updates to all stakeholdersMaintain organized records and documentation throughout the loan process

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Salary for Loan Processor in Brooklyn, NY
54600 - 80876
Low
54600
The candidate is new to the role or has limited experience and is building necessary skills.
Mid
64496
The candidate has moderate experience in the role, meets most requirements or has equivalent transferable skills, and may also have relevant certifications.
High
80876
The candidate has extensive experience and advanced skills for the role, and may also have specialized certifications.
Projected salaries for related positions Job title Low Mid High Director of Operations – Financial Services 179156 220789 260033 Operations Manager - Financial Services 121826 151856 180521 Client Service Representative 76781 111589 142301 Mortgage Underwriter 83606 104081 137524 Mortgage Processor 45045 56648 76781 Loan Administrator 46410 53918 66885 Performance Analyst 81218 99645 123191 Trader/Sales Assistant 72004 88725 105446

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Our starting salary projections come from a rigorous, multistep process so that our numbers accurately reflect the marketplace. They are based on actual compensation for professionals Robert Half has matched with employers across the country and third-party job posting data from Textkernel that we use to independently validate the salary levels. Starting compensation—pay for someone new to a role—can vary significantly based on a candidate’s skills, experience and certifications, as well as other factors including industry, company size and revenue, and demand for the role. To reflect this variability, we report our salary data in three levels: low, mid and high.