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Contract Loan Processing Jobs in Missouri (NOW HIRING)

Russell Tobin

Non-IT Project Analyst

Clayton, MO · Hybrid

$21.43/hr

Clayton, MO Hybrid (3 Days Onsite) Duration: 3-Month Contract Pay Rate: $20.00-$21.00/hour (W2) Job ... Process and manage a high volume of loan applications and related documentation. * Review loan ...

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All JobsContract Loan Processing JobsContract Loan Processing Jobs in Missouri

Contract Loan Processing information

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$12

$19

$28

How much do contract loan processing jobs pay per hour?

As of Aug 30, 2026, the average hourly pay for contract loan processing in Missouri is $19.98, according to ZipRecruiter salary data. Most workers in this role earn between $16.92 and $22.55 per hour, depending on experience, location, and employer.

What is a contract loan processor?

Contract loan processors are professionals who handle the administrative and processing tasks involved in securing a loan, typically for a mortgage, on a contractual or freelance basis rather than as full-time employees. They review and verify loan documents, coordinate with lenders, and ensure that applications comply with industry and legal standards. By working on a contract basis, they provide flexibility to lenders or mortgage companies who may need extra support during busy periods or for specific projects.

What are the key skills and qualifications needed to thrive as a contract loan processor?

To thrive as a Contract Loan Processor, you need a solid understanding of mortgage lending processes, loan documentation, and compliance regulations, often supported by experience in financial services or a related certification. Familiarity with loan origination systems (LOS) like Encompass or Calyx, and proficiency in document management software, is typically required. Attention to detail, strong organizational skills, and effective communication are crucial soft skills for managing deadlines and collaborating with clients and lenders. These skills ensure accurate loan processing, compliance with regulatory standards, and efficient workflow in a highly deadline-driven environment.

What are some common challenges faced by contract loan processors, and how can they be managed effectively?

Contract loan processors often encounter challenges such as tight deadlines, fluctuating loan volumes, and the need to quickly adapt to different lenders' procedures. Managing these challenges involves maintaining strong organizational skills, effective communication with borrowers, loan officers, and underwriters, and staying updated on compliance regulations. Utilizing reliable loan processing software and establishing clear workflows can also help streamline tasks and reduce errors, making it easier to handle high workloads efficiently.

What is the difference between Contract Loan Processing vs Contract Underwriting?

AspectContract Loan ProcessingContract Underwriting
Primary RolePreparing and verifying loan documents, coordinating with applicants and lendersAssessing and approving loan applications based on risk analysis
Required CredentialsTypically requires a high school diploma or equivalent; certifications like Loan Processing Certification are commonRequires a mortgage or loan underwriting certification; often a background in finance or banking
Work EnvironmentOffice setting, often in banks, mortgage companies, or lending institutionsOffice-based, with detailed analysis and decision-making processes

Contract Loan Processing involves managing the documentation and coordination for loan approval, while Contract Underwriting focuses on evaluating and approving loan applications based on risk factors. Both roles are essential in the lending process but differ in responsibilities and skill requirements.

How much do entry level contract loan processors make?

Entry-level contract loan processors typically earn between $15 and $20 per hour, depending on location and employer. Starting salaries may also include benefits such as training and opportunities to develop skills in loan processing software and documentation management.

How to become a contract loan processor?

To become a contract loan processor, candidates typically need a high school diploma or equivalent, along with experience in loan processing or related administrative roles. Familiarity with loan software, attention to detail, and strong organizational skills are important; some employers may prefer candidates with a background in finance or banking. Certification is not mandatory but can enhance job prospects.

What are the most commonly searched types of Loan Processing jobs in Missouri?

The most popular types of Loan Processing jobs in Missouri are:

What are popular job titles related to Contract Loan Processing jobs in Missouri?

For Contract Loan Processing jobs in Missouri, the most frequently searched job titles are:

What job categories do people searching Contract Loan Processing jobs in Missouri look for?

The top searched job categories for Contract Loan Processing jobs in Missouri are:

What cities in Missouri are hiring for Contract Loan Processing jobs?

Cities in Missouri with the most Contract Loan Processing job openings:

Contract Loan Processing jobs near you
Infographic showing various Contract Loan Processing job openings in Missouri as of August 2026, with employment types broken down into 1% As Needed, 78% Full Time, 15% Part Time, 1% Temporary, 4% Contract, and 1% Nights. Highlights an 92% Physical, 2% Hybrid, and 6% Remote job distribution, with an average salary of $41,561 per year, or $20 per hour.

Commercial Loan Administrator II/Loan Coordinator

O Fallon, MO

First Mid
Finance and Insurance • 501 - 1,000 employees

8.5

Company rating: 8.5 out of 10

Based on 6 frontline employees who took The Breakroom Quiz

34th of 173 rated banks

People enjoy working here

Good employer

Paid breaks

Learn more about First Midexternal

$19.66 - $24.59/hr

Full-time

Medical, Dental, Vision, Retirement, PTO

Re-posted 13 days ago

Job description

At First Mid, base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as (but not limited to) education, skills, internal equity, and experience. This position offers additional compensation in the form of discretionary short-term incentives (i.e. bonus, incentives, and/or commission). Benefits for this role include comprehensive healthcare, well-being benefits, paid family leave as well as generous paid time off. Total Rewards also include banking perks, tuition reimbursement, an Employee Stock Purchase Plan, and a 401K plan with company match. Incentives and benefits are subject to eligibility requirements.
Responsible for providing day to day support to the commercial lending team including coordinating loan closing, organizing customer files, monitoring financial documents and supporting all lending initiatives. Performs record keeping functions including payment processing and balancing. Acts as first point of contact with commercial loan customers and responsible for providing a high level of customer service.
Responsibilities include, but are not limited to:
  • Assists commercial loan officers by preparing various documents such as sending notices, preparing past due correspondence, ordering credit bureau reports and appraisals and preparing customer correspondence.
  • Assists commercial loan officers in gathering information for new loan requests and submits loan requests and supporting documentation to Central Loan Processing.
  • Works independently handling accounts of larger size and complexity and/or larger volume of accounts.
  • Maintains commercial customer’s credit file in an orderly and accurate manner while in their possession. Forwards new loans and updated documentation to Post Closing to be archived on Director. Reviews files for appropriate documents and responsible for following up on exceptions.
  • Greet customers and prospective customers, directing them to the appropriate personnel.
  • Assists commercial customers with questions, balance information, payments, line of credit advances, payoff quotes and tax reporting calculations on a continuous basis.
  • Retrieves information requested for credit ratings and loan confirmations.
  • Prints, reviews and distributes a variety of management reports.
  • May provide coaching and guidance to other loan administrators.
  • Actively cross-sells bank related products in a professional manner.
  • Completed required training associated with job function.
  • Performs other related duties as assigned.
Qualifications
Education/Experience:
  • High School Diploma required
  • Specialized education/training normally acquired through two plus years of experience; commercial client experience preferred
Skills:
  • Excellent computer skills. Advanced knowledge and mastery of word processing and spreadsheet functions.
  • High level of understanding of lending function, loan system and Premier system.
  • Must be able to work with a significant amount of detailed information in an accurate, timely and confidential manner.
  • High level of interpersonal skills to interact with customers and potential customers in a professional manner.
  • High level of knowledge of both internal policies and procedures and the respective state and federal laws and regulations governing departmental functions to ensure performance of individual job duties within the proper control environment.
Total Rewards:
  • Competitive health, dental amp; vision coverage with HSA match
  • 401(k) with employer match + Employee Stock Purchase Plan
  • Generous PTO, paid holidays amp; parental leave
  • Tuition reimbursement amp; performance-based bonuses
  • Visit our Total Rewards page to see our full list of benefits
First Mid Bancshares, Inc. is an Equal Opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, gender identity, sexual orientation, protected veteran status, or any other applicable federal or state-protected classification.
THIS JOB DESCRIPTION DOES NOT CONSTITUTE A CONTRACT FOR EMPLOYMENT
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