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Entry Level Loan Processor Jobs in Silver Spring, MD

ALKU

Sales Representative

Herndon, VA · On-site

$50K/yr

Manage relationships with consultants and clients throughout the hiring process What We Provide ... Student Loan Reimbursement after one year as a full-time employee * Health and dental care

ALKU

Sales Representative

Herndon, VA

$50K/yr

Manage relationships with consultants and clients throughout the hiring process What We Provide ... Student Loan Reimbursement after one year as a full-time employee * Health and dental care

ALKU - Apply Today!

Sales Representative

Herndon, VA · On-site

$50K/yr

Student Loan Reimbursement after one year as a full-time employee * Health and dental care ... CollegeGrad.com's Best Place to Work for Entry-Level Employees * Fortune's Best Place to Work for ...

ALKU - Apply Today!

Sales Representative

Herndon, VA

$50K/yr

Student Loan Reimbursement after one year as a full-time employee * Health and dental care ... CollegeGrad.com's Best Place to Work for Entry-Level Employees * Fortune's Best Place to Work for ...

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All JobsEntry Level Loan Processor JobsEntry Level Loan Processor Jobs in Silver Spring, MD

Entry Level Loan Processor information

See Silver Spring, MD salary details

$14

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$31

How much do entry level loan processor jobs pay per hour?

As of Jul 6, 2026, the average hourly pay for entry level loan processor in Silver Spring, MD is $22.02, according to ZipRecruiter salary data. Most workers in this role earn between $18.65 and $24.86 per hour, depending on experience, location, and employer.

What is an Entry Level Loan Processor job?

An Entry Level Loan Processor is responsible for assisting in the loan application process by reviewing and verifying financial documents, ensuring accuracy, and preparing files for underwriting. They communicate with borrowers, lenders, and other parties to gather necessary information. This role requires attention to detail, organizational skills, and knowledge of loan procedures. It is a great starting position for those interested in the mortgage or banking industry.

Will MLO be replaced by AI?

As an entry-level loan processor, the role involves reviewing loan documents and data entry, tasks that AI can assist with but not fully replace. AI tools are increasingly used to automate routine tasks, but human oversight remains essential for compliance and customer interaction in loan processing. Developing skills in software and data management can enhance job effectiveness as technology evolves.

What are the key skills and qualifications needed to thrive in the Entry Level Loan Processor position, and why are they important?

To thrive as an Entry Level Loan Processor, you need strong organizational skills, attention to detail, basic knowledge of loan documentation, and typically a high school diploma or equivalent. Familiarity with loan origination software, spreadsheet applications, and document management systems is commonly required. Excellent communication, customer service, and time management skills help you excel in interactions with clients and team members. These abilities ensure you can accurately process loan files, meet deadlines, and support efficient loan approvals in a fast-paced environment.

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. The exact earnings depend on the lender's compensation structure, the loan type, and the officer's experience. Entry-level loan processors may not directly earn commissions but can assist in processing such loans as part of their role.

How to get experience as a loan processor?

Entry level loan processors typically gain experience through internships, entry-level administrative roles, or training programs in banking or mortgage companies. Developing skills in data entry, customer service, and familiarity with loan processing software can also help build relevant experience.

What does a typical day look like for an Entry Level Loan Processor?

A typical day for an Entry Level Loan Processor involves reviewing and verifying loan application documents, communicating with applicants to request missing information, and collaborating with underwriters and other team members to ensure files move smoothly through the approval process. You may spend time entering data into loan processing systems, responding to status inquiries, and keeping detailed records to maintain compliance. The workday is usually structured in an office or hybrid environment, often involving both independent tasks and teamwork. This role offers great exposure to the finance industry and can lead to advancement opportunities in underwriting, loan consulting, or branch management.

Is it hard to become a loan processor?

Becoming an entry-level loan processor typically requires a high school diploma or equivalent and strong organizational and communication skills. Many employers provide on-the-job training, and some roles may prefer familiarity with loan processing software or basic financial knowledge, but formal certifications are not usually mandatory.
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What cities near Silver Spring, MD are hiring for Entry Level Loan Processor jobs? Cities near Silver Spring, MD with the most Entry Level Loan Processor job openings:
Entry Level Loan Processor jobs near you
Customer Service Representative

Customer Service Representative

Vellum Mortgage Inc.

Fairfax, VA • On-site

$18 - $25/hr

Full-time

Posted 7 days ago

Job description

Job Description- Customer Service Representative


Position Overview

The Customer Service Representative will work directly with the Post Closing team, managing collateral and final documents while serving as a primary point of contact for borrowers and business partners. This role combines document processing, loan delivery, and customer service responsibilities, including proactive borrower outreach, responding to inquiries, and supporting interim servicing activities. The ideal candidate will possess strong organizational skills, attention to detail, and excellent communication abilities. This position offers an opportunity to build a career in the mortgage industry while developing expertise in post-closing operations and customer relations.

Position Requirements

  • Experience: Entry Level Position (Customer Service and/or Mortgage Industry experience preferred)
  • Education: High School Diploma required
  • Compensation Range: $18- $25/ hr
  • Work Condition:
    • Work Location: In-office
    • Position status: Full-time
    • Regular schedule: 8:00 AM start time
    • Standard workday: Monday through Friday schedule, with an 8-hour workday expected.
    • Overtime: May be required as necessary to meet operational demands
  • Physical Requirement:
    • Must be able to lift 20 lbs. boxes of paperwork.
    • Ability to remain seated at a desk and operate a computer or other standard office equipment for most of the workday.
  • Expectation:
    • Strong analytical and problem-solving skills
    • Ability to work independently
    • Attention to detail
    • Proactive
    • Strong organizational skills.
    • Excellent verbal and written communication skills.
    • Ability to meet deadlines in a fast-paced environment.
  • Responsibilities:
    • Receive, log and ship out Collateral and Final Documents daily.
    • Daily reconciliation of investor exception reports.
    • Update notes daily in the Loan Origination System based on Investor suspense reports.
    • Contact team members, business partners, and clients to obtain any required documentation via phone calls and emails.
    • Serve as a primary point of contact for borrower inquiries regarding post-closing and servicing-related matters.
    • Answer inbound calls, emails, and messages from borrowers in a professional and timely manner.
    • Proactively contact borrowers to provide status updates, obtain missing information, and resolve outstanding issues.
    • Educate borrowers on loan servicing transfers, payment information, escrow accounts, and related mortgage processes.
    • Maintain detailed records of borrower communications within company systems.
    • Escalate complex borrower concerns to management or appropriate departments as needed.
    • Deliver exceptional customer service while maintaining compliance with company policies and regulatory requirements.
    • Assist borrowers with questions regarding mortgage payments, payment processing, and servicing transfers during interim servicing periods.
    • Monitor interim servicing loans to ensure accurate borrower communication and timely issue resolution.
    • Coordinate with servicing partners and investors regarding payment histories, payoff requests, escrow questions, and servicing-related inquiries.
    • Research and resolve borrower payment discrepancies and servicing exceptions.
    • Process and track borrower correspondence related to interim servicing activities.
    • Maintain accurate records of servicing communications and actions taken.
    • Assist with payoff statement requests and borrower servicing documentation requests.
    • Support compliance with investor and regulatory servicing requirements.
    • Follow up proactively with borrowers regarding outstanding servicing items to ensure timely resolution.
    • Perform other related duties as requested.

This description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Other duties, responsibilities and activities may change or be assigned at any time with or without notice.