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Loan Processor Jobs in Groton, CT (NOW HIRING)

CPCU/SFCU

Loan Operations Specialist

Groton, CT · On-site

Accurately and efficiently process all loan transactions, including loan payments, payoffs, new loan disbursements, general ledger transactions, and ancillary product disbursements. * Performs ...

Chelsea Groton Bank

Loan Servicing Manager

Groton, CT · On-site

$62K - $80K/yr

Oversees quality control processes related to loan setup, servicing changes, and system accuracy to ... mitigate operational and financial risk. Serves as escalation point for complex servicing issues ...

Centreville Bank

Residential Mortgage Loan Officer

CT · On-site

Originates residential mortgage loans; achieve and exceed sales goals; promote the Bank and its lending services to the real estate community; participate in and promote the Bank in community ...

Posted today

Citizens

Mortgage Loan Officer

Wakefield, RI · On-site

Our Loan Officers are encouraged to participate in business related development opportunities, community efforts to promote home ownership and professional organizations. You will be responsible for ...

Citizens

Mortgage Loan Officer

Wakefield, RI

Our Loan Officers are encouraged to participate in business related development opportunities, community efforts to promote home ownership and professional organizations. You will be responsible for ...

Citizens

Mortgage Loan Officer

Wakefield, RI

Our Loan Officers are encouraged to participate in business related development opportunities, community efforts to promote home ownership and professional organizations. You will be responsible for ...

Citizens Bank

Mortgage Loan Officer

Wakefield, RI · On-site

Our Loan Officers are encouraged to participate in business related development opportunities, community efforts to promote home ownership and professional organizations. You will be responsible for ...

Ascend Bank

External Mortgage Originator

Norwich, CT · On-site

Interviews residential real estate loan applicants, completes applications, forwards to Mortgage Processing and works with processing team to close loan in timely manner. Ensures exceptional client ...

Ascend Bank

External Mortgage Originator

Norwich, CT · On-site

Interviews residential real estate loan applicants, completes applications, forwards to Mortgage Processing and works with processing team to close loan in timely manner. Ensures exceptional client ...

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Loan Processor information

See Groton, CT salary details

$13

$21

$30

How much do loan processor jobs pay per hour?

As of Sep 4, 2026, the average hourly pay for loan processor in Groton, CT is $21.18, according to ZipRecruiter salary data. Most workers in this role earn between $17.93 and $23.89 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 cities near Groton, CT are hiring for Loan Processor jobs?

Cities near Groton, CT with the most Loan Processor job openings:

Loan Processor jobs near you
Infographic showing various Loan Processor job openings in Groton, CT as of August 2026, with employment types broken down into 1% As Needed, 77% Full Time, 19% Part Time, and 3% Contract. Highlights an 96% Physical, 2% Hybrid, and 2% Remote job distribution, with an average salary of $44,058 per year, or $21.2 per hour.

Loan Originator

Waterstone Mortgage Corporation

New London, CT • On-site

Full-time

Re-posted 20 days ago

Job description

Start or continue to build your career with a top ranked mortgage company!
Waterstone Mortgage was recently named the #2 Best Company to Work For by Mortgage Executive Magazine!  Our company culture is second to none; to learn more about our exceptional work/life balance and employee engagement, visit our website, Facebook page, or Instagram!  

If you're a go-getting Loan Originator who thrives on seeing your customers achieve their homeownership goals, Waterstone Mortgage may be a fit for you!

WHAT WE OFFER YOU:

  • Faster than average closings (27 days from contract to close on average, published by Ellie Mae)
  • Innovative technology
  • Product variety
  • Forward-thinking leadership
  • Strong operational support
  • Unparalleled sales training
  • Marketing support to help increase your business
  • Ability to lend in 48 states, no license needed!
  • Competitive rates and unlimited earning potential
  • Loan Officer Assistant, based on production
  • Coaching to help you get to the next level 

ESSENTIAL DUTIES AND RESPONSIBILITIES:

  • Engages in Outside Sales, including but not limited to:
    • Attending in-person meetings and corresponding with potential clients or real estate brokers;
    • Distributes mailings, makes calls or web-based solicitations away from WMC’s Place of Business.
    • Engages in promotional work that is performed incidental to and in conjunction with an employee’s own outside sales or solicitations; provides loan data to support marketing and sales promotion programs.
    • Interviews applicants and requests information for applications incidental to originating loans. With the assistance of processors or other staff, completes applications in a timely manner and inputs applicant data into Encompass.
    • Analyzes applicant’s financial status; including financial statements, tax returns, credit, and property evaluations (P+L Statements) incidental to originating loans, to determine feasibility of granting credit.
    • Compiles loan packages and facilitates negotiations with applicants to establish standards on items such as fees, loan repayment options and other credit terms.

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