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Loan Processor in Chattanooga, TN

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 Chattanooga, TN
36800 - 54510
Low
36800
The candidate is new to the role or has limited experience and is building necessary skills.
Mid
43470
The candidate has moderate experience in the role, meets most requirements or has equivalent transferable skills, and may also have relevant certifications.
High
54510
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 120750 148810 175260 Operations Manager - Financial Services 82110 102350 121670 Client Service Representative 51750 75210 95910 Mortgage Underwriter 56350 70150 92690 Mortgage Processor 30360 38180 51750 Loan Administrator 31280 36340 45080 Performance Analyst 54740 67160 83030 Trader/Sales Assistant 48530 59800 71070

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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.