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

Lend-A-Loan LLC

Mortgage Closer Assistant

Troy, MI

$24/hr

This role works closely with Closers, Loan Officers, Processors, Title Companies, and other ... Strong understanding of TILA regulations, escrow procedures, contracts, and basic math skills ...

Lend-A-Loan LLC

Mortgage Closer Assistant

Troy, MI · On-site

$21 - $24/hr

This role works closely with Closers, Loan Officers, Processors, Title Companies, and other ... contracts, and basic math skills required for accurate calculations. • Excellent verbal and ...

UACJ Automotive Whitehall

Controller

Troy, MI · On-site

... and contracts including health, dental, life and disability. * Administer the company profit ... Interact with plan trustee on loan processing, distributions and recordkeeping. * Related work as ...

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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
Loan Servicing Administrator

Loan Servicing Administrator

FIRST STATE BANK

Saint Clair Shores, MI

Full-time

Posted 28 days ago

Job description

First State Bank – Job Description

Job Title:                  Loan Servicing Administrator               Status      Non-Exempt

Department:             Loan Servicing

Reports To:               Loan Servicing

 

Primary Purpose of the JOB:

The Loan Servicing Administrator is responsible for ensuring accurate and timely processing of all loan-related transactions once the loan is boarded to the Core system. They are the subject matter experts to provide support to borrowers as well as branch and operations center staff.

Essential DUTIES:

  • Ensure all new loans are boarded to the bank’s Core.
  • Protect First State Banks loan interests by ensuring collateral is correctly secured at the time of boarding (UCC’s are filed, Titles have Liens, Mortgage and Final Title Policies are perfected, and Collateral has insurance)
  • Ensure all loan payments are posted the day they are received.
  • Research and resolve borrower concerns within pre-defined Service Level Agreements (SLA)
  • Process loan maintenance requests while ensuring each request has proper requesting authority.
  • Review Loan Exception and Posting Journal reports daily.
  • Accurate and timely process loan payoffs.
  • Prepare discharges and termination statements.
  • Prepare and deliver monthly reports.
  • Yearly re-amortization of SBA loans, per the current SBA Standard Operating Procedure (“SOP”)
  • Process daily non-posted items, taking action on all items through reporting, coding changes, recoveries, and other account payments. 
  • Review annual escrow analysis to confidently respond to all customer inquiries.
  • Monitor and pay taxes on escrow and non-escrow loans.
  • Develop and maintain a courteous and professional relationship with colleagues while maintaining timely and prompt daily attendance.

Other DUTIES:

  • Other duties as assigned.

Required Experience/SKILLS:

  • Six months to one year related job experience
  • Knowledge of MS Office
  • Ability to handle various tasks simultaneously
  • Good attention to detail and confident ability to make decisions

Required EDUCATION:

  • High school diploma or equivalency (GED)

Working CONDITIONS:

  • Office environment with little exposure to physical hazards or conditions
  • Occasional same day travel between branches using personal vehicle.
  • Ability to enter data into a computer and work with computer programs: Microsoft Word and Excel
  • Ability to stand and/or sit for long periods of time
  • Ability to reach with hands and fingers, touching computer buttons/adding machine buttons for extended periods of time
  • Ability to use fingers and hands to answer telephone repeatedly

Employees are expected to comply with all laws, regulations, bank policies and procedures, including specifically First State Bank’s Bank Secrecy Act and Anti-Money Laundering Policy and procedures, and it’s Customer Identification Program.  Failure to comply with either the letter and/or spirit of these laws may result in disciplinary action, up to an including termination.  

This job description does not list all the duties of the job. You may be asked by supervisors or managers to perform other instructions and duties. You will be evaluated in part based on your performance of the tasks listed in this job description.  

Management has the right to revise this job description at any time. The job description is not a contract for employment, and either you or the employer may terminate employment at any time, for any reason.

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