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Loan Processor Jobs in Addison, IL (NOW HIRING)

CrossCountry Mortgage

Loan Processor

Oak Lawn, IL · On-site

$60K - $70K/yr

Were seeking a Loan Processor who is detail-oriented and experienced in managing mortgage files. This role is responsible for reviewing and preparing loan applications to ensure an efficient process ...

Alero Financial Credit Union

Loan Processor

Elgin, IL · On-site

$18.68 - $23.34/hr

Loan Processor Reports To: Lending Manager Grade Level: 6 Full Salary Range: $18.68 - $28.02 Hiring Salary Range: $18.68 - $23.34 Primary Responsibilities : Responsible for working with lending staff ...

Robert Half

Loan Processor - Support

La Grange, IL · On-site

$28.50 - $33/hr

We are looking for a detail-oriented Loan Processor - Support team member to join a Financial Services team in La Grange, Illinois. This Long-term Contract position focuses on supporting commercial ...

Constructive Loans, LLC

Loan Opener

Oakbrook Terrace, IL · Remote

$21.50 - $23/hr

Position Overview Reporting to the Processing Manager, Processing, this position is responsible for initiating the mortgage loan origination process by ensuring accurate and efficient file setup.

Lakeside Bank

Mortgage Loan Processer/Closer

Oak Brook, IL · On-site

$19 - $28/hr

Processing Responsibilities: · Review loan application packages for completeness and accuracy, reconciling application information against system input and confirming individual data fields. Perform ...

Lakeside Bank

Mortgage Loan Processer/Closer

Oak Brook, IL · On-site

$19 - $28/hr

Processing Responsibilities: * Review loan application packages for completeness and accuracy, reconciling application information against system input and confirming individual data fields. Perform ...

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Loan Processor information

See Addison, IL salary details

$13

$21

$30

How much do loan processor jobs pay per hour?

As of Jul 17, 2026, the average hourly pay for loan processor in Addison, IL is $21.34, according to ZipRecruiter salary data. Most workers in this role earn between $18.08 and $24.09 per hour, depending on experience, location, and employer.

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

To thrive as a Loan Processor, you need a solid understanding of loan origination, financial documentation review, and regulatory compliance, often supported by experience in banking or finance. Familiarity with loan processing software like Encompass, Calyx Point, and knowledge of relevant regulations such as RESPA and TILA are typically required. Attention to detail, strong organizational skills, and effective communication make someone stand out in this position. These skills and qualities are crucial to ensure accurate, timely loan approvals and maintain compliance, ultimately supporting customer satisfaction and organizational success.

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. Skills in underwriting and customer service are important in this role.

How much do loan processors make?

Loan processors in the United States typically earn an average annual salary of around $45,000 to $55,000, with variations based on experience, location, and employer. In some regions, salaries can range from $40,000 to $65,000, and additional certifications or skills in loan software can influence pay.

What qualifications do you need to be a loan processor?

A loan 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, and familiarity with loan processing software are important, and previous experience in banking or finance can be beneficial.

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

Loan Processors often encounter challenges such as tight deadlines, managing large volumes of documentation, and coordinating with multiple parties like underwriters, loan officers, and clients. Staying organized and maintaining clear communication are key to handling these pressures. Many successful Loan Processors use checklists and digital tools to track document status and follow up regularly with all stakeholders, which helps ensure loans are processed efficiently and accurately.

What Does a Loan Processor Do?

A loan processor reviews loan applications before sending them to the underwriter for approval. As a loan processor, your responsibilities and duties include organizing required documents and verifying the accuracy and completeness of the loan application. You work as the intermediary between the loan officer and the underwriter, so you will not usually have direct contact with the customer. A good loan processor has excellent data and organizational skills, which are needed to succeed in this career.

What are loan processors?

Loan processors are financial professionals who review, verify, and organize loan applications before they are approved by underwriters. They collect necessary documentation from applicants, ensure all information is accurate, and communicate with borrowers and lenders throughout the process. Their primary goal is to make sure the loan file is complete and complies with lending regulations, helping to facilitate a smooth and timely loan approval.

What is the difference between Loan Processor vs Loan Underwriter?

AspectLoan ProcessorLoan Underwriter
Primary RolePrepares and reviews loan documents, gathers borrower informationAssesses loan risk and approves or declines loan applications
Required CredentialsHigh school diploma, some certifications preferredTypically requires mortgage or financial certifications
Work EnvironmentOffice setting, working closely with loan officers and applicantsOffice environment, analyzing financial data and risk
Industry UsageCommon in mortgage and banking sectorsIntegral to mortgage lending and financial institutions

While both roles are essential in the loan process, a Loan Processor focuses on preparing and verifying documents, whereas a Loan Underwriter evaluates the risk and makes approval decisions. Understanding these differences helps in choosing the right career path or job focus within the lending industry.

What does a loan processor do?

A loan processor reviews and verifies loan applications, gathers necessary documentation, and ensures all information complies with lending guidelines. They coordinate with borrowers, underwriters, and lenders to facilitate the approval process and often use loan origination software. Attention to detail and knowledge of financial regulations are essential skills for this role.

Is it hard to become a loan processor?

Becoming a loan processor typically requires a high school diploma or equivalent, strong organizational skills, and attention to detail. Some employers prefer candidates with experience in banking or finance, and familiarity with loan processing software can be beneficial. The role often involves on-the-job training and may require passing a background check.
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Loan Processor jobs near you
Loan Processor

Loan Processor

CrossCountry Mortgage

Oak Lawn, IL • On-site

$60K - $70K/yr

Full-time

Medical, Dental, Vision, Retirement, PTO

Re-posted 23 days ago

CrossCountry Mortgage rating

7.4

Company rating: 7.4 out of 10

Based on 27 frontline employees who took The Breakroom Quiz

Job description

CrossCountry Mortgage is the nations leading distributed retail mortgage lender, with more than 7,000 employees across 700+ branches serving clients in all 50 states. Our environment is collaborative, transparent, and driven by an entrepreneurial spirit. Team members are encouraged to take ownership of their roles while receiving strong support from leadership and cross-functional teams. We believe in creating opportunities for growth, maintaining open communication, and empowering employees to contribute to shared success. Employees value the strong team culture, the opportunity for career advancement, and the environment where their work makes a meaningful impact.

Were seeking a Loan Processor who is detail-oriented and experienced in managing mortgage files. This role is responsible for reviewing and preparing loan applications to ensure an efficient process from submission through underwriting. You will work closely with borrowers, loan officers, and third parties to gather documentation, resolve issues, and keep loans on track. This is a hybrid remote role with a Monday-Friday schedule.

  • Base salary of $60,000 to $70,000, based on experience
  • Year-end total averages $80,000 with base salary + bonus opportunities
  • Hybrid work environment
  • Paid time off, paid holidays, and paid sick leave
  • Health, dental, and vision insurance
  • 401k plan
  • Career growth opportunities

If you are an experienced loan processor who thrives in a fast-paced environment and wants to grow your career with a high-performing team, apply today!


Benefits

Annual Base Salary + Bonus Opportunities

Paid Time Off (PTO)

Health Insurance

Dental Insurance

Vision Insurance

Hands on Training

Mon-Fri Schedule

Career Growth Opportunities

Work-Life Balance

Holidays Off

Paid Holidays

401k Plan

Equipment Provided

Office Snacks and Coffee

Paid Sick Leave


Responsibilities
  • Review loan applications for completeness and accuracy
  • Verify income, employment, credit, and asset information
  • Communicate with clients and third parties
  • Submit complete files to underwriting
  • Track loan progress and follow up on conditions
  • Resolve issues to keep loans moving efficiently

Requirements
  • Prior loan processing experience
  • Experience with Encompass or similar systems
  • Strong attention to detail and accuracy
  • Excellent communication and customer service skills (proper email etiquette is important)
  • Knowledge of mortgage regulations and loan documents preferred
  • Familiarity with investor guidelines

What CrossCountry Mortgage employees say

Pay

Benefits

Hours and flexibility

Workplace

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