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Loan Processing Assistant Jobs in Springfield, MA

Savers Bank

Senior Universal Banker

Sturbridge, MA

$20.50 - $25/hr

... and loan processing functions. This role focuses on relationship management, sales growth ... This full-time, non-exempt position reports to the Assistant Branch Manager. Key Responsibilities ...

PeoplesBank

Loan Service Representative

Holyoke, MA · On-site

$25 - $28/hr

... processing and servicing of closed consumer loans and providing guidance to loan service staff. Reporting to the Assistant Vice President, this role ensures accurate, timely, and compliant loan ...

PeoplesBank

Loan Service Representative

Holyoke, MA · On-site

... processing and servicing of closed consumer loans and providing guidance to loan service staff. Reporting to the Assistant Vice President, this role ensures accurate, timely, and compliant loan ...

Savers Bank

Senior Universal Banker

Sturbridge, MA · On-site

$20.50 - $25/hr

... and loan processing functions. This role focuses on relationship management, sales growth ... This full-time, non-exempt position reports to the Assistant Branch Manager. Key Responsibilities ...

Uiba

Mortgage Loan Officer

Hartford, CT

Work with the team to assist underwriting approval. Maintain contact with customers and follow ... Maintain contact with customers and follow through on mortgage applications in process. Work with ...

RCN Capital LLC

Loan Servicing Intern

South Windsor, CT · On-site

$16.50 - $21.50/hr

... processes. Responsibilities: Loan Administration & Data Management • Assist with the review, organization, and maintenance of loan files and electronic records. • Update internal systems with ...

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All JobsLoan Processing JobsLoan Processing Assistant JobsLoan Processing Assistant Jobs in Springfield, MA

Loan Processing Assistant information

See Springfield, MA salary details

$13

$19

$29

How much do loan processing assistant jobs pay per hour?

As of Jun 13, 2026, the average hourly pay for loan processing assistant in Springfield, MA is $19.22, according to ZipRecruiter salary data. Most workers in this role earn between $16.73 and $20.34 per hour, depending on experience, location, and employer.

What does a loan processing assistant do?

A loan processing assistant supports the loan approval process by collecting and verifying borrower documentation, inputting data into loan systems, and ensuring all required information is complete. They often work closely with loan officers and underwriters, using software tools to track application progress and maintain accurate records. Attention to detail and knowledge of lending policies are essential for this role.

What is the difference between Loan Processing Assistant vs Loan Underwriter?

AspectLoan Processing AssistantLoan Underwriter
CredentialsHigh school diploma or equivalent; some roles may prefer associate's degreeBachelor's degree in finance, economics, or related field; certifications like CU or Fannie Mae
Work EnvironmentOffice setting, supporting loan processing teamsOffice environment, analyzing loan applications for approval
Employer & Industry UsageMortgage lenders, banks, credit unionsMortgage lenders, banks, financial institutions
Common Search & ComparisonOften compared for entry-level roles in loan processingCompared for roles involving loan approval decisions

The main difference is that a Loan Processing Assistant supports the loan processing workflow by gathering documents and preparing files, while a Loan Underwriter evaluates the risk and makes approval decisions on loan applications. Both roles are essential in the mortgage industry but focus on different stages of the loan process.

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

To thrive as a Loan Processing Assistant, you need attention to detail, basic knowledge of loan documentation, and a high school diploma or equivalent. Familiarity with loan origination software, document management systems, and sometimes basic Excel skills is typically required. Strong organizational skills, clear communication, and the ability to multitask help you stand out in this position. These skills are crucial for ensuring accurate and efficient loan processing, minimizing errors, and providing a seamless customer experience.

How much do processors get paid?

Loan processing assistants typically earn between $15 and $25 per hour, depending on experience, location, and the employer. Entry-level roles may start at the lower end, while experienced processors or those in high-demand areas can earn higher wages, often with opportunities for overtime and bonuses.

How to become a loan assistant?

To become a loan processing assistant, candidates typically need a high school diploma or equivalent, strong organizational and communication skills, and familiarity with loan processing software. Some employers may prefer candidates with experience in banking or finance and may require background checks or certifications such as loan processing or banking courses.

What are some common challenges a Loan Processing Assistant might face, and how can they be addressed?

Loan Processing Assistants often encounter challenges such as managing tight deadlines, handling a high volume of applications, and ensuring accuracy in documentation. Staying organized and prioritizing tasks are essential to ensuring that loan files are processed efficiently and without errors. Regular communication with loan officers, underwriters, and clients also helps prevent misunderstandings and delays. Utilizing checklists and digital tools can streamline the workflow and reduce the risk of missing important details.

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. The specific earnings depend on the lender's policies and the loan's terms.
What are the most commonly searched types of Loan Processing jobs in Springfield, MA? The most popular types of Loan Processing jobs in Springfield, MA are:
What are popular job titles related to Loan Processing Assistant jobs in Springfield, MA? For Loan Processing Assistant jobs in Springfield, MA, the most frequently searched job titles are:
What job categories do people searching Loan Processing Assistant jobs in Springfield, MA look for? The top searched job categories for Loan Processing Assistant jobs in Springfield, MA are:
What cities near Springfield, MA are hiring for Loan Processing Assistant jobs? Cities near Springfield, MA with the most Loan Processing Assistant job openings:
Loan Processing Assistant jobs near you
Consumer Loan Servicing Associate

Consumer Loan Servicing Associate

Freedom Credit Union

Springfield, MA • On-site

$19.54 - $28.60/hr

Other

Posted 15 days ago

Job description

Description

Primary Summary:

Receive phone calls and assist members with a wide variety of concerns in order to streamline calls going to loan officers and other departments. Provides the highest level of quality customer service. Services loans post-closing for mortgage and consumer loans.

Essential Functions/Position Responsibilities:

  • Process paperwork for loan process for member funding and file maintenance and loan packets.
  • Process repossession fees, MBP/GAP refunds, month-end reports.
  • Receive phone calls and assist members with miscellaneous loan service issues.
  • Trouble shoots and resolves member inquiries. Use every member contact as an opportunity to cross-tell members about additional services or programs that might benefit them.
  • Calculates tax disbursements, rate adjustments and escrow analysis as needed.
  • Provide assistance for CPI reports and ordering of supplies for Loan Department. 
  • Monitor daily loan reports and monthly summary reports and process collateral releases for paid off loans.
  • Responsible for consumer loan servicing, monitor daily loan reports, daily loan payments, and monthly monitoring reports, assist in the implementation of loan document storage and administration of the online payment details.
  • Must comply with all company policies and procedures, applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.


Requirements

Position Requirements:

Experience

Two to five years of financial operation experience with at least two years of experience in consumer loan servicing.

Computer experience necessary with knowledge of credit union systems (Insight, etc.), Word and Excel.

Education/Certifications/Licenses

High School Diploma or equivalent required, or the equivalent combination of education and experience.


Interpersonal Skills

Courtesy, tact, and diplomacy are essential elements of the job. Work involves personal contact with others inside and/or outside the organization, generally regarding routine matters for purposes of giving and obtaining information, as well as advising or referring, which commonly require shorter discussions.

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