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Loan Processor Jobs in Addison, IL (NOW HIRING)

Northern Trust

Syndicated Loan Consultant

Chicago, IL · On-site

$66K - $113K/yr

... Loan Processing. The Consultant serves on large and/or complex projects. Also, serves as the lead consultant/project manager on smaller or less complex projects. The role is balanced between high ...

Northern Trust

Syndicated Loan Consultant

Chicago, IL · Hybrid

$66K - $113K/yr

Minimum 5 or more years of syndicated loan processing and administration experience Should be flexible for shifts and extended working hours Strong understanding of Risk, Audit and Compliance factors ...

M/I Homes

Loan Specialist

Naperville, IL

$24.04 - $36.57/hr

Processes applicable documentation for FHA, VA and Conventional mortgage loan applications and prepares required packages for loan approval. Hourly Rate : $24.04 - $36.57 per hour. This position is ...

M/I Homes

Loan Specialist

Naperville, IL · On-site

$24.04 - $36.57/hr

Processes applicable documentation for FHA, VA and Conventional mortgage loan applications and prepares required packages for loan approval. Hourly Rate : $24.04 - $36.57 per hour. This position is ...

M/I Homes

Loan Specialist

Naperville, IL · On-site

$24.04 - $36.57/hr

Processes applicable documentation for FHA, VA and Conventional mortgage loan applications and prepares required packages for loan approval. Hourly Rate : $24.04 - $36.57 per hour. This position is ...

VERVE A CREDIT UNION

Mortgage Loan Officer

Chicago, IL

$32 - $39/hr

Oversee loan process by monitoring loan status and ensuring conformity with terms. * Assist in collecting additional documents and communicating loan status to all parties. * Provide functional ...

Dunmor

Loan Originator

Chicago, IL · On-site +1

Partner with internal teams such as Processing, Underwriting, and Valuations to ensure smooth and timely loan processing. * Act as a liaison between clients and operations to overcome challenges and ...

Millennium Bank

SBA Loan Specialist

Des Plaines, IL · On-site

Specific duties include: partner with Millennium Bank's lending staff by assisting with various aspects of the loan approval and closing process; review and analyze financial statements and tax ...

NVR Inc

Mortgage Loan Officer

Naperville, IL

$33.65 - $43.27/hr

You will assume full responsibility to guide new home purchasers through the loan process from loan application to approval and settlement. You will prequalify prospective buyers, review financing ...

NVR, Inc.

Mortgage Loan Officer

Chicago, IL · On-site

$33.65 - $43.27/hr

You will assume full responsibility to guide new home purchasers through the loan process from loan application to approval and settlement. You will prequalify prospective buyers, review financing ...

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All JobsLoan Processor JobsLoan Processor Jobs in Addison, IL

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.
More about Loan Processor jobs
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Loan Processor jobs near you
Syndicated Loan Consultant

Syndicated Loan Consultant

Northern Trust

Chicago, IL • On-site

$66K - $113K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 20 days ago

Northern Trust rating

8.1

Company rating: 8.1 out of 10

Based on 26 frontline employees who took The Breakroom Quiz

Job description

About Northern Trust:
Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.
Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
Summary
The Syndicated Loan Consultant is a member of the Loan Operations team that provides comprehensive, in-depth consulting, support and leadership to the team and business partners related to Syndicated Loan Processing. The Consultant serves on large and/or complex projects. Also, serves as the lead consultant/project manager on smaller or less complex projects. The role is balanced between high level operational execution of syndicated loan activities and development as well as implementation of strategic business function activities
Working Model: Hybrid
We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.
Major Duties :
1. Operates under general supervision but works on own most of the time.
2. Technically competent to act as first point of reference for day-to-day queries, and serves as a liaison to related areas.
3. Has both broad and in-depth knowledge of the processing of syndicated loans where Northern Trust is the agent bank, plus strong knowledge of related areas
4. Carries out relatively complex, extensive, high profile activities e.g. direct interaction with participant banks, clients and senior management.
5. Demonstrates excellent analytical, consultative, communication and judgment skills.
6. May lead projects and/or train lower-level staff.
7. Focuses on maintenance and implementation of policies and procedures in the function, building towards becoming an area expert.
Knowledge :
  • Excellent oral and written communication skills
  • Knowledge of Syndicated Loan products and Banking products.
  • Knowledge on applications including ACBS, EDM workflow, DSM workflow and MTS would be preferred.
  • Analytical and problem solving skills
  • Highly flexible and adaptable to change
  • Attention to detail
  • Works with a sense of urgency
  • #LI-GG1
  • #LI-Hybrid

Experience :
• Minimum 5 or more years of syndicated loan processing and administration experience
• Should be flexible for shifts and extended working hours
• Strong understanding of Risk, Audit and Compliance factors
Salary Range:
$66,700 - 113,300 USD
Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.
Working with Us:
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.
Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.
We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater
Reasonable accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com.
We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.
Apply today and talk to us about your flexible working requirements and together we can achieve greater.

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