How much does a mortgage processor make in NJ?
The average salary for a mortgage loan processor in New Jersey is $60,500 per year. Mortgage loan processor salaries in New Jersey can vary between $16,500 to $111,500 and depend on various factors, including skills, experience, employer, bonuses, tips, and more.
Do mortgage loan processors make good money?
The average bonus for a Mortgage Loan Processor is $12,000 which represents 24% of their salary, with 100% of people reporting that they receive a bonus each year. Mortgage Loan Processors make the most in Los Angeles, CA at $51,885, averaging total compensation 3% greater than the US average.
Do loan processors make commission?
Yes, mortgage loan processors can make commissions. It is dependent on their employer. Some employers may offer the option of being paid per loan funded or offer a base salary plus a bonus for a certain number of loans funded per month. Mortgage loan processors make $41,782 in average yearly salary or $20.09 per hour.
What does a loan processor do?
Share: A mortgage processor, or loan processor, is responsible for assembling, administering and processing your loan application paperwork before it gets approved by the loan underwriter. They play a key role in getting your mortgage loan request to the final close.
How much does a loan processor make an hour?
Hourly Wage for Mortgage Loan Processor I Salary
| Percentile | Hourly Pay Rate | Location |
|---|---|---|
| 25th Percentile Mortgage Loan Processor I Salary | $18 | US |
| 50th Percentile Mortgage Loan Processor I Salary | $20 | US |
| 75th Percentile Mortgage Loan Processor I Salary | $22 | US |
| 90th Percentile Mortgage Loan Processor I Salary | $25 | US |
What is like being a mortgage processor?
A Typical Day As a mortgage loan processor, you will find that each workday is quite different from the previous one. There is usually a lot of paperwork handling involved especially on days when you will need to carry out the verifications. Interactions with other people is also a common aspect of this job.
What do mortgage processor do?
A mortgage processor, or loan processor, is responsible for assembling, administering and processing your loan application paperwork before it gets approved by the loan underwriter. They play a key role in getting your mortgage loan request to the final close.