Loan Processor Salaries
|CIBC Mortgage Loan Processor salaries – 1 salaries reported||$45,561/yr|
|HSBC Mortgage Loan Processor salaries – 1 salaries reported||$53,441/yr|
|Manpower Mortgage Loan Processor salaries – 1 salaries reported||$18/hr|
|China Bank Mortgage Loan Processor salaries – 1 salaries reported||$14/hr|
In this regard, do loan processors make commission?
Yes, loan processors can and do earn commissions. … Usually, loan processors get paid either for each loan file application executed or through a salary which comes with a bonus for a particular volume of monthly funded loans.
Consequently, how do I become a loan officer in Illinois?
How To Get An Illinois Mortgage Loan Originator License
- Apply for an NMLS account and ID number.
- Complete your Illinois mortgage Pre-license Education (“PE”).
- Pass a licensing exam.
- Apply for your Illinois mortgage license though the NMLS.
- Complete background checks and pay all fees.
How long do loan processors work a week?
Loan officers evaluate, authorize, or recommend approval of loan applications. Most loan officers are employed by commercial banks, credit unions, mortgage companies, and other financial institutions. Most loan officers work full time, and some work more than 40 hours per week.
How Much Do Mortgage Loan Processor Jobs Pay per Hour?
|Annual Salary||Hourly Wage|
Mortgage Loan Processor I Salary in Illinois
|50th Percentile Mortgage Loan Processor I Salary||$41,797||October 29, 2021|
|75th Percentile Mortgage Loan Processor I Salary||$47,126||October 29, 2021|
|90th Percentile Mortgage Loan Processor I Salary||$51,977||October 29, 2021|
The national average salary for a Loan Writer is $55,509 in United States. Filter by location to see Loan Writer salaries in your area. Salary estimates are based on 4,271 salaries submitted anonymously to Glassdoor by Loan Writer employees.
Average loanDepot Loan Processor yearly pay in the United States is approximately $49,342, which meets the national average. Salary information comes from 24 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months.
Mortgage Loan Processor Salary in Chicago, IL
|Annual Salary||Monthly Pay|
Loan Processor duties and responsibilities
Gathering information for the loan application. Evaluating credit histories for applications. Collecting data from clients such as their assets, salaries, debts and employment status to fill in information for the loan application.
Whereas Loan Officers/Loan Processor tend to make the most money in the Finance industry with an average salary of $62,747. The education levels that Mortgage Consultants earn is a bit different than that of Loan Officers/Loan Processor.