ZipRecruiter

Log In

1

Loan Processor Jobs in Elgin, IL (NOW HIRING)

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 ...

Wintrust

Loan Originator - East Region

Northbrook, IL · On-site

Work with the loan processor to provide any additional documentation as necessary and required by underwriting to clear conditions and close the loan. Job Requirements: * Must meet all NMLS ...

Wintrust

Loan Originator - East Region

Chicago, IL · On-site

Work with the loan processor to provide any additional documentation as necessary and required by underwriting to clear conditions and close the loan. Job Requirements: * Must meet all NMLS ...

previous pagenext page

Showing results 21-40

All JobsLoan Processor JobsLoan Processor Jobs in Elgin, IL

Loan Processor information

See Elgin, IL salary details

$13

$21

$30

How much do loan processor jobs pay per hour?

As of Aug 15, 2026, the average hourly pay for loan processor in Elgin, IL is $21.06, according to ZipRecruiter salary data. Most workers in this role earn between $17.84 and $23.75 per hour, depending on experience, location, and employer.

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.

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 some roles may require in-office presence for document verification or meetings. Availability depends on the employer's policies and the specific job requirements.

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 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 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.

More about Loan Processor jobs

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

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

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

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

What job categories do people searching Loan Processor jobs in Elgin, IL look for?

The top searched job categories for Loan Processor jobs in Elgin, IL are:

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

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

Loan Processor jobs near you
Infographic showing various Loan Processor job openings in Elgin, IL as of August 2026, with employment types broken down into 94% Full Time, and 6% Part Time. Highlights an 100% In-person job distribution, with an average salary of $43,799 per year, or $21.1 per hour.

Mortgage Loan Processer/Closer

Lakeside Bank

Oak Brook, IL • On-site

$19 - $28/hr

Full-time

Medical, Dental, Vision, Life

Re-posted 3 days ago

Job description

Position: Full-Time Mortgage Loan Processer/Closer -- Grade 7
Location: Oak Brook Operations Center
Reports to: VP Team amp; Group Team Lead, Residential Mortgage Lending
Hours: Monday through Friday 8:00-5:00
Mortgage Loan Processor/Closer
Summary: As a member of the Mortgage Loan Operations team, this position is responsible for preparing, processing, assembling, verifying, and closing residential mortgage loans in accordance with Bank and investor guidelines. Processing will constitute approximately 70%, with Closer responsibilities the other 30% for this position.
Essential Duties and Responsibilities include the following:
Processing Responsibilities:
  • Review loan application packages for completeness and accuracy, reconciling application information against system input and confirming individual data fields. Perform quality control on loan packages to ensure all required dates, signatures, URLA/1003 documents, and disclosures are complete.
  • Verify and validate supporting income, asset, and liability documentation to confirm the accuracy of submitted information and alignment with automated underwriting decisions.
  • Verify income, assets, liabilities, and appraisals in accordance with established departmental procedures.
  • Review appraisals, credit reports, title insurance, flood certifications, and tax certificates for accuracy and completeness.
  • Prepare and submit timely, accurate loan files in compliance with applicable local, state, and federal regulations, including but not limited to RESPA, Regulation Z, and CFPB requirements.
  • Demonstrate working knowledge of Freddie Mac and Fannie Mae underwriting guidelines and systems, including LP and DU.
  • Utilize Encompass software effectively to support mortgage loan processing activities.
  • Obtain and review documentation to ensure acceptability and satisfaction of underwriting conditions.
  • Submit credit packages to the correspondent lender for underwriting review and provide all required underwriting conditions in a timely manner.
  • Complete final quality assurance reviews, including reverification of employment and review of any additional debt.
  • Coordinate closely with the Mortgage Loan Consultant and correspondent lender, while keeping the department and other relevant stakeholders informed of file status.
  • Establish and maintain effective working relationships with Mortgage Loan Consultants, investors, attorneys, title companies, Realtors, and developers.
Closing Responsibilities:
  • Prepare closing documents in accordance with final underwriting approval, ensuring quality, accuracy of closing fees, and satisfaction of all closing conditions to support loan salability.
  • Work with title companies to coordinate and confirm loan closings, validate and transmit final figures, and approve funding.
  • Review HUD-1 statements and related reports for accuracy.
  • Prepare closing packages using IDS and complete the TIL test.
  • Manage wire activity, including ordering wires, tracking incoming wires for purchased loans, and providing wire breakdowns to Bank staff.
  • Work with correspondent lenders to prepare and deliver loans for sale and provide final documentation, including loan registration and transfer through MERS to the new lender.
  • Resolve all post-closing deficiencies in accordance with investor requirements.
  • Maintain strong working relationships with Mortgage Loan Consultants, investors, attorneys, title companies, insurance companies, Realtors, and developers to support efficient operations, provide updates and documentation, and respond to questions or issues related to the mortgage loan process.
  • Utilize LaserPro effectively to support closing functions.
Additional Responsibilities:
  • Support a collaborative team environment by cross-training in a variety of mortgage operations functions and stepping in as needed to assist team members, including file opening and support for Mortgage Loan Consultants.
  • Perform other duties and responsibilities as assigned.
Qualifications:
To perform this job successfully, an individual must be able to carry out each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skills, and abilities needed for the role.
  • Strong knowledge of mortgage loan processing and closing, including an understanding of the end-to-end mortgage lending process and the technical skills required to support it.
  • Knowledge of TRID and Closing Disclosure requirements.
  • Intermediate proficiency in Microsoft Office applications.
  • Intermediate proficiency in Encompass and LaserPro.
  • Experience with FiServ DNA is helpful.
  • Excellent verbal and written communication skills, with the ability to interact effectively with a broad range of internal and external contacts.
  • Strong attention to detail and accuracy.
  • Ability to work independently, manage multiple priorities, and meet time-sensitive deadlines in a fast-paced environment.
  • Ability to use a 10-key calculator.
  • Ability to use the web-based document preparation system IDS.
  • Working knowledge of LP and DU systems.
  • Strong understanding of APR and non-APR fees.
  • Working knowledge of RESPA, Regulation Z, and CFPB guidelines.
  • Working knowledge of mortgage processing software, including Encompass.
Education and/or Experience:
High school diploma or general education degree (GED) required. A minimum of five years of mortgage lending experience is preferred.
Physical Demands:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this role. While performing the duties of this position, the employee is regularly required to talk and hear. The employee frequently is required to stand, walk, sit, and use hands to finger, handle, or touch objects. The employee is occasionally required to reach with hands and arms and must occasionally lift and/or move up to 10 pounds. Specific vision abilities required for this position include close vision and the ability to adjust focus. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
WORKING CONDITIONS
Work is performed in a typical office environment with adequate lighting and temperature control. The role is not generally exposed to hazardous or unpleasant conditions caused by noise, dust, or similar environmental factors.
BENEFIT INFORMATION
Lakeside Bank offers a wide variety of benefit programs for our employees. We offer 3 Blue Cross Blue Shield Medical plans (2 PPO amp; 1 HMO plan). Our PPO Dental plans are offered through Principal. The Bank subsidizes a large percentage of the monthly premiums. We also offer Vision insurance through Principal VSP. Employees are able to select from Single coverage, Employee amp; Spouse coverage, Employee amp; Child(ren) coverage or Family coverage levels.
The Bank provides Life/AD amp;D, Short-term Disability, and Long-term Disability insurance – at no cost to the employee. We offer a variety of supplemental ancillary products such as supplemental life for employee, spouse and/or children, accident, critical illness, hospital indemnity and pet insurance. Additional information on each plan can be provided upon request.
SALARY INFORMATION
This is a non-exempt, hourly position. Mortgage Loan Processor/Closer Compensation will be based upon background and level of experience. The compensation range is $19.00 -- $28.00.
DISCLAIMER
The above information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job.
Lakeside Bank Equal Employment Opportunity Policy:
Lakeside Bank is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.

Apply