If you want to start a promising career in the mortgage industry, becoming a mortgage loan processor may be an excellent option. The all-important question, though, is how much does a mortgage loan processor make?
As a mortgage loan processor, you are probably curious about how your compensation compares to that of others in your field. Or perhaps you are looking to break into processing, and you want to know what you can expect to be making before you make a move.
It is no secret that this career path is lucrative for many, but not all processor jobs are created equal.
According to Glassdoor.com, the average base pay for a mortgage processor is $40, 598 per year, but that number is not set in stone. What you can earn as a processor depends on a few factors.
As with any professional position, your compensation depends on the agreement you come to with your employer. Some companies will offer you a higher rate depending on your education and experience. When searching for a position as a mortgage loan processor, you should also consider non-salary pay and benefits, such as commission, bonuses, healthcare, and paid time off.
How much does a mortgage processor make? Wemlo has very competitive salaries and an array of amazing benefits. Apply with us today and find out more!
Your Support Team
A mortgage processor is only as good as their team. If your position pays commission, having a support team to back you up can help you complete more loans and make more money in the process.
It is easy for companies to say that they care about creating a work culture that promotes teamwork and boosts morale, but it can be difficult to find the right balance. At wemlo, we believe we have fostered an environment that feels like family. Just listen to what Shirley, one of our team members, has to say about working with us.
How much can a mortgage processor make? Having the right tools at your disposal can go a long way in determining that.
Technology that makes processing loans simpler is a key part of the growth that we are going to see in the mortgage industry. Companies that leverage technology to give them an advantage against competitors will inevitably be able to offer better compensation to their processors.
Communication throughout the mortgage process is a perfect example of where technology can help increase efficiency.
Before sending a loan to the underwriter, the mortgage loan processor must first compile all the necessary documentation, and that requires seamless communication with both the MLO and the borrower. The faster you can get the proper documentation, the faster you can process your loans.
Want to see how our technology can make your life as a mortgage processor easier? Check out our videos.
How Much Does a Mortgage Processor Make at wemlo? Apply to Find Out!
At wemlo, we are always looking for talented, motivated mortgage loan processors to join our team. Explore more of what we have to offer and see why we are processing with a purpose!