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Loan Processor Jobs in Champaign, IL (NOW HIRING)

Hilltop Holdings

Loan Originator NE

Champaign, IL · On-site

$15/hr

Oversees the loan process by monitoring loan status and ensures conformity with terms. * Communicates loan status to all interested parties, and obtains loan documentation after closing. * Presents ...

First Mid

Mortgage Loan Officer II

Champaign, IL · On-site

Interviews loan applicants explaining loan options, rates, terms and collateral requirements; gather the required information to provide a complete application to the appropriate loan processor.

Servbank

Commercial Loan Administrator

Champaign, IL · On-site

$41K - $48K/yr

The Commercial Loan Administrator is responsible for managing and processing commercial loan projects. This role involves preparing and reviewing loan documentation, ensuring compliance with ...

Servbank, sb Inc.

Commercial Loan Administrator

Savoy, IL · On-site

$41K - $48K/yr

Description The Commercial Loan Administrator is responsible for managing and processing commercial loan projects. This role involves preparing and reviewing loan documentation, ensuring compliance ...

Servbank

Commercial Loan Administrator

Savoy, IL · On-site

The Commercial Loan Administrator is responsible for managing and processing commercial loan projects. This role involves preparing and reviewing loan documentation, ensuring compliance with ...

Servbank

Commercial Loan Administrator

Savoy, IL · On-site

$41K - $48K/yr

The Commercial Loan Administrator is responsible for managing and processing commercial loan projects. This role involves preparing and reviewing loan documentation, ensuring compliance with ...

Servbank

Commercial Loan Administrator

Champaign, IL · On-site

The Commercial Loan Administrator is responsible for managing and processing commercial loan projects. This role involves preparing and reviewing loan documentation, ensuring compliance with ...

Busey Bank

Commercial Loan Coordinator

Champaign, IL · On-site

$23 - $27/hr

Completes daily processes and maintains pace with month end, quarter end and year end volume levels. * Enters customer and loan information into the Bank's loan origination system with specific ...

Busey

Commercial Loan Coordinator

Champaign, IL · On-site

$23 - $27/hr

Completes daily processes and maintains pace with month end, quarter end and year end volume levels. * Enters customer and loan information into the Bank's loan origination system with specific ...

Hilltop Holdings

Loan Originator NE

Champaign, IL · On-site

PrimeLending, a PlainsCapital Company, is a people-first company on a mission to make the home loan process simple and stress-free. Since 1986, we've been working together as a team to support our ...

Busey

Mortgage Loan Services Manager

Champaign, IL · On-site

$75K - $115K/yr

Develop, document and maintain procedures related to Investor loan processing and mortgage loan servicing * Maintain strong working knowledge of existing laws and regulations by incorporating ...

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Loan Processor information

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How much do loan processor jobs pay per hour?

As of Aug 27, 2026, the average hourly pay for loan processor in Champaign, IL is $21.33, 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

What are the most commonly searched types of Loan Processor jobs in Champaign, IL?

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

What are popular job titles related to Loan Processor jobs in Champaign, IL?

For Loan Processor jobs in Champaign, IL, the most frequently searched job titles are:

What cities near Champaign, IL are hiring for Loan Processor jobs?

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

Loan Processor jobs near you
Infographic showing various Loan Processor job openings in Champaign, IL as of August 2026, with employment types broken down into 1% As Needed, 79% Full Time, 16% Part Time, and 4% Contract. Highlights an 96% Physical, 2% Hybrid, and 2% Remote job distribution, with an average salary of $44,373 per year, or $21.3 per hour.

Commercial Loan Documentation Specialist

Champaign, IL • On-site

First Mid Bank and Trust
See more jobs at First Mid Bank and Trustexternal

$20.43 - $30.72/hr

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 25 days ago

Job description

At First Mid, base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as (but not limited to) education, skills, internal equity, and experience. This position offers additional compensation in the form of discretionary short-term incentives (i.e. bonus, incentives, and/or commission). Benefits for this role include comprehensive healthcare, well-being benefits, paid family leave as well as generous paid time off. Total Rewards also include banking perks, tuition reimbursement, an Employee Stock Purchase Plan, and a 401K plan with company match. Incentives and benefits are subject to eligibility requirements.
The Commercial Loan Documentation Specialist is responsible for analyzing loan documentation, including complex commercial and commercial real estate loans, ensuring the accurate and timely delivery of loans while minimizing documentation and collateral risk factors to the bank.
Responsibilities include, but are not limited to:
  • Responsible for identifying and reporting incidences of non-compliance to procedures, policy and regulations in completed commercial loan files. Completes an analysis of compliance with regulations, internal policies and procedures and works with processors/loan officers to clear deficiencies.
  • Develop and maintain an understanding of updated regulatory and policy exceptions.
  • Reviews and understands business entity documents, confirms authorization to borrow/guaranty, determines approved signers, and ensures resolutions and loan documents are drafted appropriately.
  • Reviews and analyzes loan write-ups and applies the approved terms and conditions to loan document production.
  • Executes and leads communication with loan officers/loan assistants/credit administration/loan processors to identify solutions for any discrepancies and to obtain missing information &/or documentation. Delivers constant communication of the loan processing status.
  • Provides training for complex loans including the preparation of required documents for complex entity structures, multi-cross collateralized loans, SBA loans, government guarantees, out-of-state collateral, documentation perfection, trusts and complex real estate structures.
  • Coaches and mentors Loan Processors and Loan Processor Specialist. Proactively identifying control weaknesses to Loan Operations Officer with recommendations for skill development based on recurring issues identified while analyzing completed loans.
  • Handles complex customer issues and works on projects of diverse complexity and scope.
  • Analyzes, investigates and coordinates collateral verifications through Uniform Commercial Code (UCC) searches, title commitments and appraisals. Initiates/creates/ensures lien perfection based on type of collateral, law, regulations and geographical location.
  • Responsible for reviewing and updating the input and documentation checklists for compliance, procedural changes and to maintain standards for the loan documentation process.
  • Provides subject matter expert knowledge to the loan officers and branch loan personnel answering questions regarding loan documentation, and loan documentation status.
  • Reviews various monthly business analytics reports for system data integrity, determines corrective action and maintains the system for any errors identified.
  • Implements new processes and procedures.
  • Serves as a member of the conversion mapping and validation team for conversions. Will be responsible for ensuring coding of target banks loans is completed in an accurate manner. Works closely with Fiserv in the writing and testing of the conversion program.
  • Backup for Consumer Loan Documentation Specialist and Loan Operations Coordinator.
  • Completes required training associated with job function.
  • Performs other related duties as assigned.

Qualifications
Education:
  • High School diploma or equivalent, Associates preferred.

Experience:
  • 3+years banking, clerical or loan processing experience.

Skills:
  • Extensive knowledge of both internal policies and procedures and the respective state and federal laws and regulations governing departmental functions to ensure all loans meet necessary requirements.
  • As a subject matter expert, provides recommendations to leadership and guidance to staff members. Promotes the development of effective team relationships and functions in various capacities to ensure the success of team efforts.
  • Broad knowledge of loan documentation, including commercial and commercial real estate, loan provisions/terms, and compliance.
  • High level of interpersonal skills to interact professionally with processors, loan officers, regional presidents and Chief Credit Officer.
  • Must be able to work with a significant amount of detailed information in an accurate, timely and confidential manner.
  • Proficient in Microsoft Office products. Advanced working knowledge of excel.
  • Thorough understanding of the loan processing and PREMIER systems.
  • Strong communication, organization and time management skills.
  • Occasionally be required to work earlier or later than the normal workday.

Total Rewards:
  • Competitive health, dental & vision coverage with HSA match
  • 401(k) with employer match + Employee Stock Purchase Plan
  • Generous PTO, paid holidays & parental leave
  • Tuition reimbursement & performance-based bonuses
  • Visit our Total Rewards page to see our full list of benefits

First Mid Bancshares, Inc. is an Equal Opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, gender identity, sexual orientation, protected veteran status, or any other applicable federal or state-protected classification.
THIS JOB DESCRIPTION DOES NOT CONSTITUTE A CONTRACT FOR EMPLOYMENT
Pay Range: $20.43 - $30.72 per hour

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