Mortgage Loan Processor Job Questions & Answers

Sort by:
If there is any independant mortgage loan processors that work from home, how much of average of loans per month do you process? Did you yourself have to go out and find companies that would let you processor for them? Do you work for more than one company? Do you set your hours for a regular workday (since most is commission only) and last, but not least, is it worth it?
1 answer - Asked By: So_real - 10/29/2006
Mortgage loan processors who work in the Southern California area, especially downtown LA, can you tell me approximately how much you make? Are u paid a salary, hourly, or commission? Do you have bonuses for every loan closed? How did you get your job as a loan processor? Does a temp agency make it easier to get that job?
3 answers - Asked By: Mister D - 7/29/2007
I am looking into getting a job in the Mortgage Loan Processing field. What training, certification will i need to establish this as a career path?
3 answers - Asked By: ladypaige86 - 2/2/2009
California realtors and mortgage brokers and loan processors - are you guys looking for a job or waiting for housing to get better again?
4 answers - Asked By: earth angel - 8/24/2007
I have been offered a job at Wyndham Capital mortgage. I am a loan processor and I have accepted a job witht his company. Anybody have any comments about WCM I would greatly appreciate it. Just want to check company out the best I can before making the big jump!! Thanks in advance.
1 answer - Asked By: sharris0011 - 5/21/2009
For example, what type of companies hire loan processors? What is the avergage income of a loan processor? Where (online) can I find data about this field?
3 answers - Asked By: larceny'sghost - 5/25/2006
I am currently looking for a job in Orange County with the security that a job with union membership provides. Anybody with info please pass it along, I will be most grateful. Any open local, civic or federal goverment positions too. Was recently layed off from the mortgage industry as a loan processor. Thank you.
6 answers - Asked By: JobhunterinOC - 4/17/2006
I had a company contact me today and said they got my number from my resume posted at Hotjobs. com. The lady said that her company was hiring entry level mortgage processors and she wanted to know if I was interested in an interview. I told her I was interested, and she gave me all of the details. At the end, she said I would have to bring $200 in the form of cash or money order for some sort of mortgage processors fee (or something like that). HUGE RED FLAG!! Why would you ever need to bring money to a job interview? Is there really a certification cost that mortgage loan processors have to pay? It all sounds like a scam to me and I'm not going to go to the interview.
1 answer - Asked By: J-Blaze - 6/11/2007
Hi everyone, my question is in regards to getting started in the real estate business. I would really like to learn how to become a real estate loan officer and loan processor. I have tried to get some information about this on my own, but I just end up overwhelmed and unable to identify what I really need to do to become one. I don't really know anyone in the field and the few real estate agents that I have asked only tells me to go to one of their meetings, which I have gone to, only to find that they're just trying to sell me into joining their "team". Is this the only way to go? Or is there another option for me? I have searched online and found numerous classes that offer certificates, are these what I need to take? Should I be taking classes in a community college and earning these certificates or is online acceptable? Do I even need to take classes to earn a certificate and do I even need a certificate? Would I need a license to work as a loan officer and/or processor?
1 answer - Asked By: just my luck - 1/2/2007
- I'm 22 years old (almost 23) - I have been going to a business college for an Associate's degree in Business Admin (entrepreneurship) and a minor in Accounting and I have about 2 quarters left in order to graduate. - For the past 4 years I have worked full-time as a residential mortgage loan processor for both brokers and lenders. - I prefer an office environment, flexible hours, and would LOVE to work from home part-time. I'm pregnant with my 1st child and due within the month. I don't want to commit to a full-time position because I want to be home with my baby and continue to have more children later on. My last salary was $37k with bonuses and full benefits. I'm very detail oriented, have great customer service skills, I represent myself professionally and have pleasantly surprised all of my superiors and coworkers with my maturity and ability to handle myself. (a lot of people question my age) What type of job should I apply for that will let me work from home part time? **I also do not like to work for commission. I'd rather have a salary or hourly pay. And I'm HORRIBLE at sales! I'm more team-oriented...
5 answers - Asked By: Carmen W - 6/15/2007
I am in the NAVY with about 10mos. left and looking for a job I can get into when I get out. I have no experience and don't know if I need to be taking classes or something.
2 answers - Asked By: Tiff - 5/15/2007
I've been to job sites that have the position listed. I have the High School Diploma, but where/how do you obtain the processor experience if you don't have it already?
1 answer - Asked By: Jalen R - 2/2/2009
Is it difficult? can a person of average intelligence learn to do this? How long would it take to become one if you were shadowing a processor?
2 answers - Asked By: redwine - 2/9/2007
I called a place and the person who answered my call told me that they already have 2 loan processors and she wasn't sure if they needed any more. I couldn't talk to the hiring manager because he was on vacation. Do you think that they would consider hiring me or is 3 loan processors too much? && how many loan processors are there at the mortgage brokerage firm that you work for?
2 answers - Asked By: XxKimmyxX - 10/31/2006
I got an offer to work there and I would like to know the entry base pay, the commission pay scale, and also the average loan contracts an typical officer gets a month. Long shot I know.
2 answers - Asked By: Anthony - 7/26/2012
As an experience Loan Officers, what advice can you give to me about your profession? I am very interested in working as a Loan Processor but I am also curious of what “real skills” does it take to work in a Mortgage Loan Office. Whom should you build a close working relationship with? I know the essential people would include a Mortgage Broker license, underwriter, loan consultant, document drawer, etc. but what else is needed besides a large capital. “real skills” = things that are not included in the job description
2 answers - Asked By: jazcy - 4/14/2007
I hated being a loan officer so I took a loan processing course online & got my certificate. Now, I've been looking for work with no results. There are hardly any entry level positions because most of these companies want experience in this field. Also, it seems the mortgage jobs have slowed down since the summer started. Does anyone have any suggestions? Does anyone think mortgage jobs such as loan processing will pick up soon?
3 answers - Asked By: tabby_prpl - 7/2/2006
I have 2 years exp in processing loans for a company based in Virginia but had offshored it to us in India. I would love to make that as my career as that is where all your qualities would be used in the best way. Please help me !!
1 answer - Asked By: Arvind n - 4/2/2007
As an experience Loan Officers, what advice can you give to me about your profession? I am very interested in working as a Loan Processor but I am also curious of what “real skills” does it take to work in a Mortgage Loan Office. Whom should you build a close working relationship with? I know the essential people would include a Mortgage Broker license, underwriter, loan consultant, document drawer, etc. but what else is needed besides a large capital. “real skills” = things that are not included in the job description
0 - Asked By: jazcy - 4/14/2007
I going to be taking a new job but with a mortgage broker, I need to get more organize with files so is there any tips or software I can use to keep track of what I need to do on each file. My volume will increase so I need to be on track. does anyone have templates or excel sheet they can send me to help me organize on what to do on each file?
1 answer - Asked By: jason e - 7/27/2007
Sponsored results
In need of Temp to hire or PT work? Build a profile today w/ Corestaff.
www.corestaff.com
Mortgage Processor Jobs Info. Research now on About.com.
About.com/Mortgage Processor Jobs
Search for Real Estate And Mortgage. Find Answers on Ask.com.
Ask.com/Real Estate And Mortgage
Find your estimated price range with mortgage prequalification
www.wellsfargo.com/mortgage
Previous

Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.
Search SEARCH

Popular Questions & Answers

Questions & Answers Powered by Yahoo! Answers
Is this normal for an interviewer to do this?
So today I went in for an interview and I was going in for the 2nd interview by the head chief executive. now this is where it got weird, so she asked me about my previous jobs and said how much she ...
What do you say when they ask what you want ...
Wen you apply at a job and they ask how mch you want as a salary what do you say?
How do I get a job with Dodgy work history a...
Basically- no degree, although I have tried completing one in the past and stopped because of physical and mental health issues which were overwhelming to deal with along with going to classes full t...
Why honesty, hard work and dedication have n...
Recently I have overlooked for a project at work and I am unable to accept it why? I am hard working, dedicated, maintain a very professional decorum, very cordial with my colleagues and bosses, giv...
I have applied for over 100 jobs I have gott...
As stated in my question I've applied for multiple jobs and gotten no job interview, you name a place I've applied there. I've said i will work ridiculous hours from like 12am to 5am and nothing. I'v...

Popular Articles

Browse Articles Related To Mortgage Loan Processor Careers
Sample Resume for a Mortgage Loan ProcessorArticle Rating
Does your resume demonstrate how accurately and efficiently you process loans? If not, borrow ideas from this sample for a mortgage loan processor.
Mortgage Loan Officer CareersArticle Rating
If you love to sell, this may be the field for you. But jobs -- and incomes -- rise and fall on interest rates.
Sample Resume for a Mortgage Underwriter Article Rating
You may be an expert at underwriting, but how about resume writing? Use this mortgage underwriter sample resume as a guide to preparing your resume.
Can You Relocate If Your Mortgage Is Underwater?Article Rating
How can you move for a new job if you owe more on your mortgage than your house is now worth? Here are some possible solutions.
Sample Resume for a Mortgage CloserArticle Rating
Is your resume as thorough as the mortgage documents you review? View this sample for a mortgage closer to see how you can get your resume in shape.

Real Estate Career Tools

Mortgage Loan Processor

Salaries

$27,800.00 - $61,440.00
Typical Salary for Mortgage Loan Processor
(390 Respondents)
Source: Monster.com Careerbenchmarking Tool

Education / Training

Some College Coursework Completed
32.6%
Bachelor's
26%
High School
24.7%
Associates
9.3%
Master's
2.3%
Certification
2.3%
(215 Respondents)
Source: Monster.com Careerbenchmarking Tool

Mortgage Loan Processor

Serves customers by preparing mortgage loan requirements.
Rate of Growth
-3.10 %
Size of Industry in 2006:
183,000
Source: Bureau of Labor Statistics, May 2006

Related Skills

Accounting
Analyzing Information
Audit
Corporate Finance

Monster Communities

Teaching Community
Where teachers meet and learn.
ArtBistro
Create and connect.
Excelle
Networking for the career-minded woman.
Nursing Link
Where nurses call the shots.
More Monster Communities

Monster Partners

Scholarships
Scholarships, financial aid and more ways to pay for school.
Education.org
Find top campus and online degree programs.
Military.com
Military portal for the US Army, Navy, Air Force, Marine Corps and Coast Guard.
Financial Aid
Scholarships & financial aid.
Staffing for Government Jobs
Staffing and hiring solutions for federal government agency jobs.
More Monster Partners

Job Hunt Strategy

Six Ways to Make a Recruiter Hate You
If you want to blow your chances with recruiters -- and, by extension, with the companies they work for -- here are six perfect ways to do so.

Resumes & Cover Letters

Rev Up Your Resume to Relocate
Hoping to relocate? Get the ball rolling on landing the right job in the right location with these expert resume and cover letter tips.

Interviewing

100 Potential Interview Questions
Interview questions can run the gamut. You probably won't face all 100 of these, but you should still be prepared to answer at least some of them.

Salary & Benefits

10 Questions to Ask When Negotiating Salary
Most of us aren't natural negotiators, but asking these 10 questions during salary negotiations can help you get everything you deserve.

Employee Sourcing

Alt text
November Monster Employment Index Grows 13% Year-Over-Year, Tenth Consecutive Month of Positive Annual Growth.

For Seekers

Campus and Online Degrees
Advance your career and earn more with an online degree.
Free Salary Wizard
What are you worth? Find out and negotiate a better salary.
Research Careers
Get information on jobs and career paths to help guide your choices
Questions & Answers
Find answers to all your career related questions -- powered by Yahoo! Answers
Resume Distribution Service
Our distribution service puts your resume right in the hands of recruiters.
Resume Writing Services
Our experts will craft a keyword-rich resume that stands out in the crowd.
More Career Resources

For Employers

Career Ad Network
Target your job posting to more candidates on thousands of websites.
Hire Right Background Checks
Explore our background check packages to improve the quality of your hires.
Hiring Home Page
Find the best candidates for your business with Monster hiring solutions.
Job Postings
Find the right solution for your hiring needs. Starting at $99.
Power Resume Search
Monster's new search technology precisely matches people with your jobs.
Resource Center
Find staffing insights, labor trends, HR best practices and more.
Target Post
Connect with skilled, hourly and administrative candidates for only $99.

Social Media

Jobs on Twitter
Find jobs in your area and industry.
Monster Careers
Tune into our career advice and discussions tackling a wide range of topics and industries.
Monster Corporate & PR
Stay up-to-date on the latest news. Get the 'Who', 'What', 'When', and 'Why' on all things Monster related.
Monster Customer Service
Got a Monster question? We've got the answer. Whether you're a job seeker or employer, we can help you find the answers you need.
Monster for Employers
Find advice on hiring.
Follow Us
Check out our many pages and stay connected with the latest industry news, events, career advice and job openings.

Other Links

Advice Forums
Tap into Monster's online career forums and share advice with experts.
Monster Company Profiles
Explore companies and get information to guide your career decisions.
Compare Salaries
See how your pay stacks up to others in your field.
iPhone Application
Download the Monster app for iPhone and iPod touch.
Monster Job Seeker Blog
Monster Job Seeker Blog.
Monster Thinking Blog
Monster's Recruitment Trends Blog.
Jobs & Career Resources
Search Jobs:
For Employers: Post Jobs | Search Resumes | Advertise
About Monster | Work for Monster | Advertise with Us | AdChoices | Partner with Us | Investor Relations | Social Media
Terms of Use | Privacy Center | Accessibility Centre | Help | Security | Contact Us | Sitemap | Mobile
©2013 Monster - All Rights Reserved U.S. Patents No. 5,832,497; 7,599,930 B1; 7,827,125 and 7,836,060 MWW - Looking for Monster Cable? - V: 2013.1.0.14-302
eTrustLogo