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Loan Processor Jobs in Oswego, IL (NOW HIRING)

Alero Financial Credit Union

Loan Processor

Elgin, IL · On-site

$18.68 - $23.34/hr

Loan Processor Reports To: Lending Manager Grade Level: 6 Full Salary Range: $18.68 - $28.02 Hiring Salary Range: $18.68 - $23.34 Primary Responsibilities : Responsible for working with lending staff ...

Symicor Group

Mortgage Loan Processor

Chicago, IL · On-site

$70K/yr

Mortgage Loan Processor - To $70K - Chicago, IL The Symicor Group is a boutique talent acquisition firm based in Schaumburg, IL & Rockport, TX. Our nationally unique value proposition centers around ...

The Symicor Group

Mortgage Loan Processor

Chicago, IL · On-site

$70K/yr

About the Job Mortgage Loan Processor - To $70K - Chicago, IL - Job # 3818-147004 Who We Are: The Symicor Group is a boutique talent acquisition firm based in Schaumburg, IL & Rockport, TX. Our ...

Symicor Group

Mortgage Loan Processor/Closer

Chicago, IL · On-site

$56K/yr

Mortgage Loan Processor/Closer - To $56K - Chicago, IL The Symicor Group is a boutique talent acquisition firm based in Schaumburg, IL & Rockport, TX. Our nationally unique value proposition centers ...

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Loan Processor information

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How much do loan processor jobs pay per hour?

As of Sep 7, 2026, the average hourly pay for loan processor in Oswego, IL is $20.26, according to ZipRecruiter salary data. Most workers in this role earn between $17.16 and $22.88 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 Oswego, IL?

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

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

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

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

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

Loan Processor jobs near you
Infographic showing various Loan Processor job openings in Oswego, IL as of August 2026, with employment types broken down into 1% As Needed, 76% Full Time, 18% Part Time, 4% Contract, and 1% Nights. Highlights an 95% Physical, 2% Hybrid, and 3% Remote job distribution, with an average salary of $42,143 per year, or $20.3 per hour.

Mortgage Loan Processor

MIDLAND FEDERAL SAVINGS AND LOAN ASSOCIATION

Bridgeview, IL • On-site

$40K - $56K/yr

Other

Medical, Dental, Vision, PTO

Re-posted 25 days ago

Job description

Job Title: Mortgage Loan Processor

Location: Remote

Job Type: Full Time

About Us:

Midland Federal Savings and Loan is a growing Bank / Mortgage Lender committed to helping individuals and families achieve their homeownership goals. We take pride in our customer-focused approach and high standards of accuracy, efficiency, and integrity.

Position Overview:

We’re seeking a detail-oriented Mortgage Loan Processor to join our team. The ideal candidate will be responsible for processing mortgage applications from start to finish—ensuring all documentation is complete, compliant, and ready for underwriting and closing. You’ll serve as a key point of contact between borrowers, loan officers, underwriters, and other stakeholders to move loans smoothly through the pipeline.

Key Responsibilities:

  • Review initial loan applications for completeness and accuracy.
  • Collect and verify borrower documentation (income, assets, credit, etc.).
  • Submit and track files through underwriting and closing stages.
  • Communicate regularly with loan officers, underwriters, and borrowers to resolve conditions and keep files on schedule.
  • Ensure compliance with all federal, state, and company lending regulations.
  • Maintain detailed records and meet processing deadlines.

Qualifications:

  • 2+ years of experience as a Mortgage Loan Processor (preferred).
  • Strong knowledge of FHA, VA, Conventional, and USDA loan programs.
  • Proficient in LOS systems
  • Excellent organizational and time management skills and high attention to detail.
  • Strong communication and customer service abilities (Written and Verbal)
  • Ability to manage multiple files in a fast-paced environment.
  • Ability to work with strict deadlines

What We Offer:

  • Competitive salary.
  • Health, dental, and vision insurance.
  • Paid time off.
  • Supportive, team-oriented work environment.
  • Opportunities for professional growth and advancement.

Apply