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Loan Processor Jobs in Worcester, MA (NOW HIRING)

Middlesex Savings Bank

Loan Processor

Westborough, MA · On-site

$45K - $74K/yr

Overview Responsible for the timely and accurate processing of residential mortgage and consumer loan applications in conformance with established bank policies, objectives and regulatory ...

Middlesex Savings Bank

Loan Processor

Westborough, MA

$45K - $74K/yr

Responsible for the timely and accurate processing of residential mortgage and consumer loan applications in conformance with established bank policies, objectives and regulatory requirements.

Middlesex Savings Bank

Loan Processor

Westborough, MA

$45K - $74K/yr

Processes residential mortgage and consumer loan applications. Receives and opens applications. Prepares and delivers required disclosures within established timeframes. Orders various supporting ...

Northpointmortgage

Mortgage Loan Processor

Westborough, MA · On-site +1

$41K - $56K/yr

The successful candidate will bring 3+ years of mortgage processing experience, demonstrate excellent communication skills, and work effectively with loan officers and clients in a fast-paced ...

Northpoint Mortgage

Mortgage Loan Processor

Westborough, MA · On-site

$41K - $56K/yr

The successful candidate will bring 3+ years of mortgage processing experience, demonstrate excellent communication skills, and work effectively with loan officers and clients in a fast-paced ...

Northpoint Mortgage

Mortgage Loan Processor

Westborough, MA · On-site

$41K - $56K/yr

The successful candidate will bring 3+ years of mortgage processing experience, demonstrate excellent communication skills, and work effectively with loan officers and clients in a fast-paced ...

Baycoast Bank

LOAN OFFICER

Auburn, MA · On-site

POSITION DESCRIPTION Loan Officer BayCoast Mortgage Company Work Model: Hybrid (Flexible Work ... Guide borrowers through the mortgage process from application to closing, ensuring a smooth and ...

Dunmor

Loan Originator

Worcester, MA · On-site +1

Partner with internal teams such as Processing, Underwriting, and Valuations to ensure smooth and timely loan processing. * Act as a liaison between clients and operations to overcome challenges and ...

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Loan Processor information

See Worcester, MA salary details

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How much do loan processor jobs pay per hour?

As of Aug 3, 2026, the average hourly pay for loan processor in Worcester, MA is $21.26, according to ZipRecruiter salary data. Most workers in this role earn between $17.98 and $23.99 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 Worcester, MA? The most popular types of Loan Processor jobs in Worcester, MA are:
What are popular job titles related to Loan Processor jobs in Worcester, MA? For Loan Processor jobs in Worcester, MA, the most frequently searched job titles are:
What cities near Worcester, MA are hiring for Loan Processor jobs? Cities near Worcester, MA with the most Loan Processor job openings:
Loan Processor jobs near you
Infographic showing various Loan Processor job openings in Worcester, MA as of July 2026, with employment types broken down into 1% As Needed, 81% Full Time, 14% Part Time, and 4% Contract. Highlights an 97% Physical, 1% Hybrid, and 2% Remote job distribution, with an average salary of $44,212 per year, or $21.3 per hour.

Loan Processor

Middlesex Savings Bank

Westborough, MA • On-site

$45K - $74K/yr

Full-time

Re-posted 2 days ago

Job description

Overview
Responsible for the timely and accurate processing of residential mortgage and consumer loan applications in conformance with established bank policies, objectives and regulatory requirements. Performs any functions, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers and co-workers.
This position is located in the Operations Center, Massachusetts and will be required to work on-site 3 days per week.
Responsibilities
  • Processes residential mortgage and consumer loan applications. Receives and opens applications. Prepares and delivers required disclosures within established timeframes. Orders various supporting documents such as appraisals, credit reports, flood certifications and title rundowns, and tracks the timely receipt thereof.
  • Manages assigned pipeline to assure that commitment, rate lock and closing dates are met on purchase transactions, and established target dates for refinance transactions.
  • Is the primary point of contact for applications after submission. Collects required fees and documentation. Keeps tracking screens and file notes up-to-date, and all parties (originator, underwriter, closer and/or attorney) informed as to the disposition of the request.
  • Documents income, asset, credit and collateral documentation for compliance with bank and investor guidelines prior to submission to DU, LP or the assigned underwriter, notifying the customer, underwriter and/or originator of any deficiencies as appropriate.
  • Generates required documentation such as commitment letters, attorney instructions, compliance disclosures and consumer loan closing documents.
  • Assists with the closing of residential mortgage and consumer loan applications as may be required.
  • Prepares and runs periodic reports.
  • Performs a variety of general ledger activities (e.g. posting fees, balancing accounts, etc.).
  • Responsible for the integrity of the data input into the loan origination system for all assigned loans, including HMDA data.
  • Assists in the training of less experienced staff members.
  • Performs all duties in accordance with bank policies, including the Information Security Policies and Procedures, as well as state and federal regulatory compliance guidelines. Attends and/or completes relevant courses and seminars.
  • Responsible for maintaining compliance of assigned pipeline with applicable lending regulations, including but not limited to TRID, HMDA, Reg B, and Fair lending.
  • Generates referrals for origination staff; assists in referral source development and provide referrals to other departments of the bank.
  • Performs related and unrelated duties as may be required.

Requirements
Education
  • High School Diploma or equivalent is required

Work Experience
  • 1-2 years loan processing or related experience is required

Knowledge, Skills, and Abilities
  • Good word processing and PC skills.
  • Must be detail oriented.
  • Demonstrated organizational, customer service and communications skills.
  • Must possess at least intermediate technology skills, including knowledge of word processing, database and spreadsheet applications.
  • This position is based at the Operations Center and requires working on-site three days per week, or as business needs dictate.

Expected Pay Range
The expected annual pay range for this role is $45,122 to $74,451. The pay range is the salary we in good faith expect to pay for this role at the time of posting. Actual compensation paid may fluctuate higher or lower than the posted range and the range may be modified in the future due to several factors including, but not limited to, relevant experience, certifications, and qualifications, internal equity, adjustments to the requirements and responsibilities of the job, business needs, and economic and market data.
EEO Statement
Middlesex Savings Bank is an Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

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