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Loan Processor Jobs in Groton, CT (NOW HIRING)

CPCU/SFCU

Assistant Mortgage Specialist

Groton, CT · On-site

... processing of secondary market mortgage loans, in accordance with established policies and procedures with special consideration to CFPB/TRID/HMDA guidelines for real estate lending and reporting.

Ascend

External Mortgage Originator

Norwich, CT · On-site

$60 - $90/hr

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.

Pawnbroker/Sales Associate

YANKEE PEDDLER & PAWN GROTON LLC

Groton, CT

$20/hr

Full-time

Re-posted 12 days ago

Job description

Looking for someone with some retail experience, customer service experience and cash handling experience. Key responsibilities will include Appraisal & Valuation, Customer service and Sales, Loan Processing, Compliance, Operational Duties.  Also, the ability to learn quickly, must be able to work in a fast paced, sometimes challenging environment. Trustworthiness, integrity and the ability to handle often confidential customer situations, Basic computer skills. Must be able to pass a background check. Yankee Peddler and Pawn 535 Long hill rd. Groton CT