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Collateral Processor Jobs in Cleveland, OH (NOW HIRING)

Doist

RTL Special Assets Manager

Cleveland, OH · On-site

$90 - $130/hr

Demonstrated expertise in workout strategies, foreclosure processes, collateral liquidation, and OREO management for 4‑6 unit residential properties. * Strong working knowledge of GAAP impairment ...

New

CrossCountry Mortgage

Document Scanner

Cleveland, OH · On-site

Perform accurate and timely input of required collateral shipping fields in LOS system. * Maintain familiarity with residential mortgage documents. * Work directly with processing, closing, and ...

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Collateral Processor information

See Cleveland, OH salary details

$8

$16

$25

How much do collateral processor jobs pay per hour?

As of Aug 8, 2026, the average hourly pay for collateral processor in Cleveland, OH is $16.24, according to ZipRecruiter salary data. Most workers in this role earn between $13.08 and $18.65 per hour, depending on experience, location, and employer.

What is a collateral processor?

Collateral Processors are professionals in the banking or financial industry responsible for handling and managing collateral documents tied to loans, mortgages, or other secured transactions. Their duties include verifying documentation, ensuring compliance with regulations, and maintaining accurate records to protect the lender's interest. They often coordinate with loan officers, title companies, and borrowers to ensure all collateral requirements are met before and after loan closing. Collateral Processors play a key role in minimizing risk for financial institutions by ensuring collateral is properly documented and secured.

Is it hard to be a collateral processor?

Being a collateral processor involves reviewing and managing collateral documentation, which requires attention to detail, organizational skills, and knowledge of financial regulations. The role can be demanding during high-volume periods but generally follows standard office hours and requires familiarity with loan and collateral management systems.

What are the key skills and qualifications needed to thrive as a collateral processor, and why are they important?

To thrive as a Collateral Processor, you need strong attention to detail, organizational skills, and a solid understanding of loan documentation and banking procedures, often supported by a high school diploma or equivalent. Familiarity with loan origination systems, document management software, and compliance tools is typically required. Excellent communication, problem-solving, and time management skills help you coordinate effectively with internal teams and clients. These competencies ensure accurate processing, regulatory compliance, and efficient workflow in financial institutions.

What is the difference between Collateral Processor vs Loan Processor?

AspectCollateral ProcessorLoan Processor
Primary RoleReviewing and verifying collateral documentation for loansProcessing loan applications and verifying borrower information
CertificationsTypically requires banking or finance certificationsOften requires similar certifications, such as loan processing or banking credentials
Work EnvironmentBanking institutions, mortgage companies, financial servicesBanks, mortgage lenders, credit unions
Common TasksAssessing collateral documents, ensuring complianceGathering documents, verifying borrower data, preparing loan files

While both roles operate within the financial industry, a Collateral Processor specializes in verifying collateral documentation for loans, whereas a Loan Processor handles the overall loan application process. Understanding these distinctions helps in choosing the right career path or job search focus.

What are the typical challenges faced by a collateral processor, and how can they be addressed effectively?

Collateral Processors often work in fast-paced environments where attention to detail is critical due to frequent handling of sensitive financial documents. Common challenges include managing tight deadlines, ensuring data accuracy, and keeping up with regulatory changes. To overcome these, it's important to develop strong organizational skills, maintain clear communication with team members and other departments, and stay updated on industry compliance requirements. Utilizing workflow management tools and regularly reviewing procedures can also help minimize errors and streamline processes.
What are popular job titles related to Collateral Processor jobs in Cleveland, OH? For Collateral Processor jobs in Cleveland, OH, the most frequently searched job titles are:
What job categories do people searching Collateral Processor jobs in Cleveland, OH look for? The top searched job categories for Collateral Processor jobs in Cleveland, OH are:
Collateral Processor jobs near you
Infographic showing various Collateral Processor job openings in Cleveland, OH as of August 2026, with employment types broken down into 89% Full Time, 8% Part Time, 1% Temporary, and 2% Contract. Highlights an 85% Physical, 5% Hybrid, and 10% Remote job distribution, with an average salary of $33,772 per year, or $16.2 per hour.

Collateral Specialist

Crosscountrymortgage

Cleveland, OH

Full-time

Medical, Dental, Vision, Retirement

Posted 2 days ago

New

Job description

CrossCountry Mortgage (CCM)is the nation's number one distributed retail mortgage lender with more than 9,000 employees operating over 700 branches and servicing loans across all 50 states, D.C. and Puerto Rico. Our company has been recognized ten times on the Inc. 5000 list of America's fastest-growing private businesses and has received many awards for our standout culture.

A culture where you can grow! CCM has created an exceptional culture driving employee engagement, exceeding employee expectations, and directly impacting company success. At our core, our entrepreneurial spirit empowers every employee to be who they are to help us move forward together. You'll get unwavering support from all departments and total transparency from the top down.

CCM offers eligible employees a competitive compensation plan and a robust benefits package, including medical, dental, vision, as well as a 401K. We also offer company-provided short-term disability, an employee assistance program, and a wellness program.

Position Overview:
The Collateral Specialist is responsible for completing functions related to the closing of loan applications.
Job Responsibilities:

  • Receive all incoming original signed closing documents from settlement and escrow agents.

  • Scan all original closing packages daily.

  • Perform accurate and timely input of required collateral shipping fields in LOS system.

  • Maintain familiarity with residential mortgage documents.

  • Work directly with processing, closing, and settlement agents.


Qualifications and Skills:

  • Knowledge of mortgage loan documents.

  • Knowledge of Ellie Mae Encompass 360, preferred.

  • Excellent communication skills and customer service skills.

  • Excellent attention to detail and organizational skills.

  • Proficient in Microsoft Word and Excel.

  • Must be able to stand for long periods of time and lift up to 25lbs.


This job description is intended to convey information essential to understanding the scope of the job and the general nature and level of work performed by job holders within this job. However, this job description is not intended to be an exhaustive list of qualifications, skills, efforts, duties, responsibilities or working conditions associated with the position.

CrossCountry Mortgage, LLC offers MORE than a job, we offer a career. Apply now to begin your path to success! careersatccm.com

CrossCountry Mortgage, LLC strives to provide employees with a robust benefit package: https://mycrosscountrybenefits.com

California residents: Please see CrossCountry's privacy statement for information about how CrossCountry collects and uses personal information about California applicants.

CrossCountry Mortgage supports equal employment opportunity in hiring, development and advancement for all qualified persons without regard to race, color, religion, religious creed, national origin, age, physical or mental disability, ancestry, marital status, uniformed service, covered veteran status, citizenship status, sex (including pregnancy, childbirth, and related medical conditions, and lactation), sexual orientation, gender identity, gender expression, transgender status, domestic violence victim status (where applicable), protected hair style or texture, genetic information (testing or characteristics), or any other protected status of an individual or because of the individual's association with a member of a protected group or any other characteristic protected by federal, state, or local law ("Protected Characteristics"). The collective sum of the individual differences, life experiences, knowledge, inventiveness, innovation, self-expression, unique capabilities and talent that our employees invest in their work represents a significant part of not only our culture, but our reputation. The Company is committed to fostering, cultivating and preserving a culture that welcomes diversity and inclusion.

CrossCountry Mortgage, LLC (NMLS3029) is an FHA Approved Lending Institution and is not acting on behalf of or at the direction of HUD/FHA or the Federal government. To verify licensing, please visit www.NMLSConsumerAccess.org.

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