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Loan Processor Jobs in Novi, MI (NOW HIRING)

Extreme Loans

Mortgage Loan Processor

Southfield, MI · On-site

$40K - $80K/yr

Extreme Loans is looking for a detail-oriented, high-energy Mortgage Loan Processor to join our growing team in Southfield. You will serve as the essential "engine" of the loan process, ensuring ...

University Bank

Consumer Loan Processor

Ann Arbor, MI

$18.50 - $23.25/hr

Description General Job Summary The Consumer Loan Processor is the primary support to the AVP/Consumer Loan Manager and Consumer Loan Officers. Primary functions include pipeline management with a ...

University Bank

Consumer Loan Processor

Ann Arbor, MI · On-site

$18.50 - $23.25/hr

General Job Summary The Consumer Loan Processor is the primary support to the AVP/Consumer Loan Manager and Consumer Loan Officers. Primary functions include pipeline management with a focus on ...

Sonic Title Agency, LLC

Be Seen First

Title Processor

Dearborn, MI · On-site

$20 - $22/hr

Enter and submit title and loan documents into software programs to track applicant's progress ... title processing, title company pre-processor, or as a mortgage loan processor is desired

EXPERT MORTGAGE LENDING LLC

Mortgage Processor

Troy, MI · On-site

$48K - $75K/yr

As a Mortgage Processor, you will manage loan files from initial submission through final approval, ensuring all documentation is accurate, complete, and in compliance with lender guidelines. You'll ...

EXPERT MORTGAGE LENDING LLC

Mortgage Processor

Troy, MI · On-site

$48K - $75K/yr

As a Mortgage Processor, you will manage loan files from initial submission through final approval, ensuring all documentation is accurate, complete, and in compliance with lender guidelines. You'll ...

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All JobsLoan Processor JobsLoan Processor Jobs in Novi, MI

Loan Processor information

See Novi, MI salary details

$12

$19

$28

How much do loan processor jobs pay per hour?

As of Aug 3, 2026, the average hourly pay for loan processor in Novi, MI is $19.99, according to ZipRecruiter salary data. Most workers in this role earn between $16.92 and $22.55 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
What are the most commonly searched types of Loan Processor jobs in Novi, MI? The most popular types of Loan Processor jobs in Novi, MI are:
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What job categories do people searching Loan Processor jobs in Novi, MI look for? The top searched job categories for Loan Processor jobs in Novi, MI are:
What cities near Novi, MI are hiring for Loan Processor jobs? Cities near Novi, MI with the most Loan Processor job openings:
Loan Processor jobs near you
Infographic showing various Loan Processor job openings in Novi, MI as of July 2026, with employment types broken down into 1% As Needed, 86% Full Time, 10% Part Time, and 3% Contract. Highlights an 95% Physical, 1% Hybrid, and 4% Remote job distribution, with an average salary of $41,569 per year, or $20 per hour.

Mortgage Loan Processor

Extreme Loans

Southfield, MI • On-site

$40K - $80K/yr

Full-time

Medical, Dental, Vision, Retirement, PTO

Re-posted 12 days ago

Job description

Extreme Loans is looking for a detail-oriented, high-energy Mortgage Loan Processor to join our growing team in Southfield. You will serve as the essential "engine" of the loan process, ensuring files move smoothly from initial application to a successful closing.

As a primary point of contact, you will bridge the gap between loan officers, borrowers, underwriters, and sales agents. If you thrive in a fast-paced environment and take pride in precision and clear communication, we want to talk to you.


What You’ll Do

  • Pipeline Management: Act as the central hub for every loan file, coordinating effectively with borrowers, loan officers, and underwriters.
  • Documentation & Verification: Proactively collect, review, and organize all necessary financial documentation for the underwriting department.
  • Problem Solving: Identify potential hurdles in the loan file early and work with the team to find solutions for a "Clear to Close."
  • Closing Coordination: Once approved, ensure all files are complete and efficiently handed off to the closing department.
  • Communication: Provide world-class service by keeping all parties updated on the status of the loan at every milestone.

Requirements

  • Experience: Minimum of 1 year of mortgage processing experience (Required).
  • Education: High school diploma or equivalent (Required).
  • Reliability: Must be able to reliably commute to our Southfield, MI office (Required).
  • Technical Skills: Familiarity with modern LOS (Loan Origination Systems) and a high level of comfort with digital document management.

Skills for Success

  • Ability to manage an 8-hour shift in a dynamic office setting.
  • Strong organizational skills with the ability to handle multiple files simultaneously.
  • Excellent verbal and written communication skills.
  • A "team-first" attitude with a focus on growth and culture.

Benefits

We believe in taking care of our team members. At Extreme Loans, you’ll enjoy:

  • Financial Security: Competitive salary and 401(k) retirement plan.
  • Health & Wellness: Comprehensive Health, Dental, and Vision insurance.
  • Work-Life Balance: Paid Time Off (PTO) to recharge.
  • Environment: A collaborative, professional office setting.


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