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Loan Processor in Hoffman Estates, IL

Loan Processor Job Description

Companies look for loan processors with one to three years of related experience and a high school diploma or the equivalent. Strong communication and collaboration skills are preferred.

Typical loan processor duties:

Processing loan applicationsExplaining loan and disclosure terms to clientsEnsuring that all loan conditions are met before a loan is fundedVerifying that regulatory and/or loan disclosures have been sent to clientsKeeping the processing system up-to-dateCoordinating funding with settlement agents and clientsProviding updates to clients with loans in process

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Salary for Loan Processor in Hoffman Estates, IL
44275 - 66700
25th percentile
44275
The candidate is new to the role and building the needed skills, experience and autonomy.
50th percentile
52900
The candidate has the experience to perform core responsibilities without direct supervision and is comfortable with the role’s processes and subject matter.
75th percentile
66700
The candidate delivers value beyond the stated job duties, has advanced qualifications and experience, and is ready for the next career level.
Projected salaries for related positions Position title 25th percentile 50th percentile 75th percentile Director of Operations – Financial Services 148350 181988 213613 Manager of Operations – Financial Services 101200 125638 149500 Client Service Representative 64400 93725 119600 Banking Operations Specialist 46863 70150 98900 Loan Administrator 38238 44275 53475 Mortgage Underwriter 70150 86538 113275 Mortgage Processor 37088 46575 62963 Trader/Sales Assistant 60375 74175 86538 Performance Analyst 66700 81938 100338 Explore More Salaries

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