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Contract Loan Processor Jobs in Rochester, MI (NOW HIRING)

Swift Home Loans Inc

Processor

Birmingham, MI · On-site

$65K - $100K/yr

Mortgage Loan Processor Position Overview: We are seeking a detail-oriented and deadline-driven ... a contract of employment, either express or implied. Employment with Swift Home Loans is at-will ...

UWM

Loan Processor - No Experience Required

Pontiac, MI · On-site

$39K - $54K/yr

Loan verification * Submitting summary report reviews * Reviewing state and federal compliance ... This document does not create an employment contract, implied or otherwise. Employment with UWM is ...

LOANVILLE LLC

Mortgage Loan Officer

Troy, MI · On-site

$50K - $250K/yr

Guide clients through the mortgage loan process, providing expert advice and answering questions ... Prepare and review loan documents and contracts for approval and signature * Monitor loan ...

LOANVILLE LLC

Mortgage Loan Officer

Troy, MI · On-site

$50K - $250K/yr

Guide clients through the mortgage loan process, providing expert advice and answering questions ... Prepare and review loan documents and contracts for approval and signature * Monitor loan ...

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All JobsContract Loan Processor JobsContract Loan Processor Jobs in Rochester, MI

Contract Loan Processor information

See Rochester, MI salary details

$12

$19

$28

How much do contract loan processor jobs pay per hour?

As of Jun 24, 2026, the average hourly pay for contract loan processor in Rochester, MI is $19.61, according to ZipRecruiter salary data. Most workers in this role earn between $16.59 and $22.12 per hour, depending on experience, location, and employer.

How much does a loan officer make on a $500,000 loan?

A loan officer typically earns a commission or fee based on the loan amount, often around 1% to 2%, which would be $5,000 to $10,000 for a $500,000 loan. Compensation can also include a base salary and bonuses, depending on the employer and location. Loan officers need strong knowledge of lending guidelines and customer service skills to succeed in this role.

Will MLO be replaced by AI?

A Mortgage Loan Originator (MLO) role involves personal interaction and assessment of borrower needs, which are difficult for AI to fully replicate. While AI tools can assist with data analysis and document processing, the human element remains essential for client communication, compliance, and complex decision-making in mortgage lending.

How much does a contract processor make?

A contract loan processor typically earns between $40,000 and $60,000 annually, depending on experience, location, and employer. Some may earn additional compensation through bonuses or overtime, especially in high-volume environments or with specialized skills like knowledge of loan processing software.

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 knowledge of lending regulations are important; some positions may require certification or training in loan processing. Contract roles often require flexibility and the ability to work independently within set deadlines.

What are some common challenges faced by Contract Loan Processors, and how can they be addressed?

Contract Loan Processors often encounter challenges such as fluctuating loan volumes, tight deadlines, and frequent changes in lending regulations. Meeting these demands requires strong organizational skills and the ability to adapt quickly to new processes or software. Building effective communication with loan officers, underwriters, and clients is essential for resolving documentation issues promptly and ensuring smooth loan processing. Staying updated on industry guidelines and maintaining meticulous attention to detail can help mitigate errors and delays, ultimately leading to successful loan closures.

What are the key skills and qualifications needed to thrive as a Contract Loan Processor, and why are they important?

To thrive as a Contract Loan Processor, you need strong knowledge of mortgage loan products, compliance regulations, and experience with loan processing, typically supported by a high school diploma or equivalent. Familiarity with loan origination systems (LOS) like Encompass or Calyx, and understanding of automated underwriting systems (AUS), is crucial. Excellent organizational skills, attention to detail, and effective communication with clients and team members set top performers apart. These competencies ensure efficient, accurate loan processing while maintaining regulatory compliance and client satisfaction.

What does a Contract Loan Processor do?

A Contract Loan Processor is a professional who temporarily works with mortgage lenders or brokers to process loan applications. They review and verify all documentation, such as income, credit reports, and property details, to ensure they meet lending requirements. Contract Loan Processors often work independently or through agencies, providing their services on a per-loan or short-term basis. Their main goal is to help facilitate smooth and timely loan approvals by coordinating between borrowers, lenders, and underwriters.

What is the difference between Contract Loan Processor vs Underwriter?

AspectContract Loan ProcessorUnderwriter
CredentialsTypically requires a high school diploma or equivalent; certifications like NMLS may be preferredOften requires mortgage or financial certifications; some roles need a license or specific underwriting training
Work EnvironmentOffice setting, processing loan documents, communicating with clients and lendersOffice setting, assessing risk, reviewing loan applications and supporting documents
Industry UsageCommonly employed in mortgage and lending companiesUsed across mortgage, banking, and financial institutions

The main difference is that Contract Loan Processors handle the initial processing and documentation of loans, while Underwriters evaluate the risk and approve or deny loan applications. Both roles are essential in the mortgage industry and often work closely together to ensure loan approval processes are efficient and compliant.

What are the most commonly searched types of Loan Processor jobs in Rochester, MI? The most popular types of Loan Processor jobs in Rochester, MI are:
What are popular job titles related to Contract Loan Processor jobs in Rochester, MI? For Contract Loan Processor jobs in Rochester, MI, the most frequently searched job titles are:
What cities near Rochester, MI are hiring for Contract Loan Processor jobs? Cities near Rochester, MI with the most Contract Loan Processor job openings:
Contract Loan Processor jobs near you

Mortgage Loan Processor

CrossCountry Mortgage

Bloomfield Hills, MI • On-site

$50K - $70K/yr

Other

Posted 23 days ago

CrossCountry Mortgage rating

7.1

Company rating: 7.1 out of 10

Based on 26 frontline employees who took The Breakroom Quiz

Job description

Are you an experienced, detail-oriented mortgage loan processor who can successfully aid applicants in navigating the mortgage lending process? If so, we are looking for you! We are currently seeking a skilled and high-producing mortgage processor to work with the mortgage loan officers on our team. If you’re interested in a dynamic position on a well-established and successful lending team, look no further; apply now! This is an in-office position, not remote. Responsibilities: • Assist borrowers in determining the best mortgage type based on interview and situation • Adhere to all lending and regulatory guidelines and policies while preparing the loan file • Order property and loan documentation such as appraisals, inspections, title searches, site surveys, contracts, and property tax records to help process mortgage loan files • Work with the borrower to gather financial information such as credit reports, verify the accuracy to determine creditworthiness, and complete the mortgage loan application • Maintain detailed documentation of the process in our system - from origination to close Qualifications: • FHA, FHLB, FNMA, or VA loan product knowledge and mortgage lending experience required • High school diploma or GED required - Associate’s degree in accounting, finance, or business preferred • Strong analytical and time management skills and superior attention to detail • At least 2 years of loan processing experience required • Must possess excellent written and verbal communication skills Compensation: $50,000 - $70,000 yearly

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Compensation:
$50,000-$70,000 per year

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