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Loan Processor Jobs in Addison, IL (NOW HIRING)

CIBC

Loan Syndications Director

Chicago, IL · On-site +1

$130K - $170K/yr

As the Loan Syndications Director, you'll play a critical role in supporting the Middle Market ... You're process-driven. You have a structured approach to managing workflows and ensuring accuracy ...

CIBC

Loan Syndications Director

Chicago, IL · On-site

$130K - $170K/yr

As the Loan Syndications Director, you'll play a critical role in supporting the Middle Market ... You're process-driven. You have a structured approach to managing workflows and ensuring accuracy ...

CIBC US

Loan Syndications Director

Chicago, IL · On-site +1

$130K - $170K/yr

As the Loan Syndications Director, you'll play a critical role in supporting the Middle Market ... You're process-driven. You have a structured approach to managing workflows and ensuring accuracy ...

Wintrust

Loan Processing Specialist Entry

Rosemont, IL · Hybrid

$20.19 - $26.44/hr

The Loan Processing Specialist Entry supports transactions for Commercial, Commercial Real Estate, Wealth Management, Managed Assets Department, Retail, and Community Lending portfolios: * Processes ...

Wintrust

Loan Processing Specialist Entry

Rosemont, IL · On-site

$20.19 - $26.44/hr

The Loan Processing Specialist Entry supports transactions for Commercial, Commercial Real Estate, Wealth Management, Managed Assets Department, Retail, and Community Lending portfolios: * Processes ...

Wintrust

Loan Processing Specialist Entry

Rosemont, IL · On-site

$20.19 - $26.44/hr

The Loan Processing Specialist Entry supports transactions for Commercial, Commercial Real Estate, Wealth Management, Managed Assets Department, Retail, and Community Lending portfolios: * Processes ...

ABOC

AVP Loan Operations

Chicago, IL · On-site

$70K - $90K/yr

Books commercial loans, processes commercial loan renewals and posts mortgage payments and advances properly within one business day of receipt. * Develops and maintains a sound working knowledge of ...

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Loan Processor information

See Addison, IL salary details

$13

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How much do loan processor jobs pay per hour?

As of Sep 9, 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 is a loan processor?

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 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 the key skills and qualifications needed to thrive as a loan processor?

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.

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 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.

Can I work remotely as a loan processor?

Loan processors can often work remotely, especially with the increased use of digital document management and communication tools. Many companies offer remote or hybrid schedules, but specific arrangements depend on employer policies and the need for secure handling of sensitive financial information.

How much do entry level loan processors make?

Entry-level loan processors typically earn between $35,000 and $45,000 annually, depending on location and employer. Starting salaries may increase with relevant skills, certifications, and experience in loan processing software and financial regulations.
More about Loan Processor jobs

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The most popular types of Loan Processor jobs in Addison, IL are:

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Cities near Addison, IL with the most Loan Processor job openings:

Loan Processor jobs near you
Infographic showing various Loan Processor job openings in Addison, IL as of August 2026, with employment types broken down into 1% As Needed, 81% Full Time, 13% Part Time, 1% Temporary, 3% Contract, and 1% Nights. Highlights an 96% Physical, 2% Hybrid, and 2% Remote job distribution, with an average salary of $44,391 per year, or $21.3 per hour.

Loan Processing Specialist Entry

Rosemont, IL • On-site

Wintrust Financial
Finance and Insurance • 5 - 10K employees
Learn more about Wintrust Financialexternal

$20.19 - $26.44/hr

Other

Posted 4 days ago

Wintrust rating

8.0

Company rating: 8.0 out of 10

Based on 20 frontline employees who took The Breakroom Quiz

73rd of 176 rated banks

Job description

Loan Processing Specialist Entry

The Loan Processing Specialist Entry supports transactions for Commercial, Commercial Real Estate, Wealth Management, Managed Assets Department, Retail, and Community Lending portfolios:

  • Processes loan payments, payoffs, advances, wires and maintenance.
  • Monitors and processes loan requests and inquiries submitted in the Loan Operations mailbox such as loan payments, advances, maintenance and research including reconciling items from the loan control account and the review of Teller Reports for backdating process.
  • Ensures that all transactions between the loan system and general ledger are balanced. Research and resolve general ledger differences.
  • Provides customer service to external and internal customers.

Qualifications:

  • 3+ years' experience in financial services
  • Office or teller experience; commercial or consumer loan operations and loan documentation experience a plus
  • High school diploma or equivalent required
  • General computer skills

Benefits:

Medical Insurance • Dental • Vision • Life insurance • Accidental death and dismemberment • Short-term and long-term Disability Insurance • Parental Leave • Employee Assistance Program (EAP) • Traditional and Roth 401(k) with company match • Flexible Spending Account (FSA) • Employee Stock Purchase Plan at 5% discount • Critical Illness Insurance • Accident Insurance • Transportation and Commuting Benefits • Banking Benefits • Pet Insurance

Compensation:

The estimated hourly salary range for this role is $20.19-$26.44, along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors, such as a candidate's qualifications, skills, and experience.

Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, disability, veteran status, genetic information, and other legally protected categories.

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