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Loan Modification Processor Jobs (NOW HIRING)

Pennymac

Modification Processor

Moorpark, CA · On-site

$39K - $55K/yr

S. mortgage loans and the management of investments related to the U.S. mortgage market. At ... Processor will assist with entry level processing, completion and post modification tasks ...

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Loan Modification Processor information

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How much do loan modification processor jobs pay per hour?

As of Jul 13, 2026, the average hourly pay for loan modification processor in the United States is $21.30, according to ZipRecruiter salary data. Most workers in this role earn between $18.03 and $24.04 per hour, depending on experience, location, and employer.

Can a 70 year old woman get a 30 year mortgage?

A loan modification processor can help evaluate eligibility for a mortgage, but whether a 70-year-old woman can obtain a 30-year mortgage depends on the lender's policies and her financial situation. Many lenders offer mortgages to seniors, but approval may be influenced by factors such as income, credit score, and health of the loan terms. It's advisable to consult with lenders or mortgage professionals to explore available options.

Will MLO be replaced by AI?

A Loan Modification Processor (LMP) role involves reviewing financial documents and communicating with clients, tasks that require judgment and interpersonal skills. While AI can assist with data analysis and automate routine tasks, it is unlikely to fully replace LMPs due to the need for human oversight and decision-making in complex loan modifications.

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

A Loan Modification Processor should possess strong analytical abilities, attention to detail, and a solid understanding of mortgage lending practices, often supported by experience in loan processing or a finance-related degree. Familiarity with loan origination systems, document management software, and compliance regulations such as RESPA and HAMP is highly valued. Outstanding communication, problem-solving skills, and the ability to manage high-stress situations help set top performers apart. These competencies ensure efficient processing, regulatory compliance, and positive client interactions in a fast-paced lending environment.

What is a Loan Modification Processor job?

A Loan Modification Processor is responsible for reviewing, processing, and assisting borrowers in modifying the terms of their existing loans. They work with lenders and borrowers to collect necessary documentation, verify financial information, and ensure compliance with regulations. Their goal is to help borrowers secure modified loan terms that are more manageable, often to prevent foreclosure. Strong attention to detail, knowledge of loan servicing guidelines, and excellent communication skills are essential in this role.

What qualifications do you need to be a loan processor?

A loan modification processor typically needs a high school diploma or equivalent, with some employers preferring post-secondary education or relevant certifications. Strong organizational skills, attention to detail, knowledge of loan products and financial regulations, and proficiency with loan processing software are also important qualifications for the role.

What are the typical daily responsibilities of a Loan Modification Processor?

Loan Modification Processors are responsible for reviewing borrower documentation, verifying financial information, and determining eligibility for loan modification programs. They often communicate directly with clients, mortgage underwriters, and other team members to collect missing information and clarify requirements. Daily tasks also include ensuring all paperwork complies with regulatory standards, updating records in loan management systems, and tracking multiple cases simultaneously. This role requires excellent organizational skills and a focus on maintaining accuracy while working with tight deadlines. Working closely with other departments, processors play a crucial role in helping clients achieve sustainable mortgage solutions.

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

A loan modification processor typically does not earn a commission based on loan amounts; instead, they receive a salary or hourly wage. Loan officers, who originate loans, may earn a commission that ranges from 0.5% to 1% of the loan amount, so on a $500,000 loan, they could earn between $2,500 and $5,000 in commissions. Compensation varies by employer, experience, and location.
More about Loan Modification Processor jobs
What states have the most Loan Modification Processor jobs? States with the most job openings for Loan Modification Processor jobs include:
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Loan Modification Processor jobs near you
Infographic showing various Loan Modification Processor job openings in the United States as of July 2026, with employment types broken down into 1% As Needed, 87% Full Time, 8% Part Time, and 4% Contract. Highlights an 97% Physical, 1% Hybrid, and 2% Remote job distribution, with an average salary of $44,308 per year, or $21.3 per hour.

Loan Modification Associate

Tata Consultancy Service Limited

Atkins, IA • On-site

$44K - $48K/yr

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 5 days ago

Job description

The Back Office Loan Modification Specialist is responsible for reviewing, processing, and implementing loan modification requests for auto finance customers experiencing financial hardship. This role ensures all modifications comply with company policies, regulatory requirements, and customer agreements while maintaining data accuracy and operational efficiency. The position operates in a non-customer-facing capacity, supporting front-line teams and ensuring seamless execution of loan restructuring activities.
Loan Modification Processing
• Review and evaluate loan modification requests and supporting documentation.
• Assess eligibility based on established guidelines, policies, and risk parameters.
• Process approved modifications including term extensions, payment deferrals, interest rate adjustments, or restructures.
• Ensure timely and accurate updating of loan servicing systems.
Documentation & Compliance
• Verify completeness and accuracy of borrower documentation (income proof, hardship details, etc.).
• Ensure all modifications are compliant with internal policies and applicable regulatory requirements.
• Maintain detailed records of modifications, decisions, and approvals for audit purposes.
• Support internal and external audits by providing required documentation and reports.
Data Management & System Updates
• Accurately input and maintain loan data in servicing platforms.
• Perform quality checks and reconciliations to ensure data integrity.
• Identify discrepancies and resolve issues proactively.
Collaboration & Support
• Work closely with customer service, collections, and underwriting teams to facilitate loan modifications.
• Provide back-office support for escalations and exception requests.
• Participate in process improvements and workflow enhancements.
Required Qualifications
• High School Diploma or equivalent
• 24 years of experience in loan servicing, collections, auto finance, or financial operations.
• Experience handling loan modifications, restructuring, or hardship programs is preferred.
• Strong knowledge of loan servicing systems and processes.
TCS Employee Benefits Summary:
• Discretionary Annual Incentive.
• Comprehensive Medical Coverage: Medical & Health, Dental & Vision, Disability Planning & Insurance, Pet Insurance Plans.
• Family Support: Maternal & Parental Leaves.
• Insurance Options: Auto & Home Insur ance, Identity Theft Protection.
• Convenience & Professional Growth: Commuter Benefits & Certification & Training Reimbursement.
• Time Off: Vacation, Time Off, Sick Leave & Holidays.
• Legal & Financial Assistance: Legal Assistance, 401K Plan, Performance Bonus, College Fund, Student Loan Refinancing.
Salary Range: $44,000 - $48,000 per year

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