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Loan Processor Jobs in Worcester, MA (NOW HIRING)

Cornerstone Bank

Loan Generalist

Spencer, MA · On-site

$26.82 - $28.84/hr

Job Summary The Loan Generalist is responsible for supporting the end-to-end mortgage loan process by ensuring the timely, accurate, and compliant handling of loan applications and documentation.

Cornerstone Bank

Loan Generalist

Winchendon, MA · On-site

$26.82 - $28.84/hr

Job Summary The Loan Generalist is responsible for supporting the end-to-end mortgage loan process by ensuring the timely, accurate, and compliant handling of loan applications and documentation.

COCC

Loan Originator

Ludlow, MA · On-site

$60K - $65K/yr

What You'll do... • Process consumer loan applications from initial interview through decisioning. • Gather and review loan documentation and supporting information. • Evaluate creditworthiness ...

Clinton Savings Bank

Loan Operations Manager

Clinton, MA · On-site +1

$66K - $90K/yr

This role is responsible for overseeing the end-to-end loan servicing process, ensuring compliance with regulatory requirements, enhancing operational efficiency, and driving a high level of customer ...

Frey Consulting Group

Licensed Loan Originator

Ludlow, MA · On-site

$60 - $65/hr

Process consumer loan applications from initial interview through decisioning. * Gather and review loan documentation and supporting information. * Evaluate creditworthiness, income, employment ...

COCC

Licensed Loan Originator

Ludlow, MA · On-site

$60K - $65K/yr

Process consumer loan applications from initial interview through decisioning. * Gather and review loan documentation and supporting information. * Evaluate creditworthiness, income, employment ...

Silgan Dispensing Systems

Processor

Slatersville, RI · On-site

Troubleshoot problems with the production process and notify appropriate individuals with the results in a timely manner. Determine root causes to problems arising from material, molding machine 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 Sep 5, 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 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

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For Loan Processor jobs in Worcester, MA, the most frequently searched job titles are:

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Loan Processor jobs near you
Infographic showing various Loan Processor job openings in Worcester, MA as of August 2026, with employment types broken down into 78% Full Time, and 22% Part Time. Highlights an 78% In-person, 11% Hybrid, and 11% Remote job distribution, with an average salary of $44,212 per year, or $21.3 per hour.

Loan Generalist

Cornerstone Bank

Spencer, MA • On-site

$26.82 - $28.84/hr

Full-time

This job post has expired today. Applications are no longer accepted.

Key responsibilities

  • Review and verify mortgage loan documentation for accuracy, completeness, and compliance with federal and state regulations.

  • Coordinate with internal teams, customers, and third-party vendors to facilitate the loan process and obtain necessary reports and verifications.

  • Maintain and update loan status in the loan origination system and ensure all work complies with regulatory guidelines.

Job description

About Cornerstone Bank

Cornerstone Bank was established in 2017, built on a legacy of community support and a commitment to helping individuals and businesses thrive. With deep roots in Worcester County and a strong presence throughout Central Massachusetts, Cornerstone combines the strength of a traditional bank with the personalized service of a local institution. Our community-based banking model allows us to deliver exceptional service with a personal touch—every time. At Cornerstone Bank, we foster a collaborative and inclusive workplace where innovation, teamwork, accountability, and excellence are more than just values—they’re how we work every day. We empower our employees to grow professionally, serve their communities, and deliver outstanding customer experiences.


Job Summary

The Loan Generalist is responsible for supporting the end-to-end mortgage loan process by ensuring the timely, accurate, and compliant handling of loan applications and documentation. This role partners with internal lending teams, customers, and third-party vendors to facilitate a seamless lending experience while maintaining adherence to regulatory requirements and Bank policies. The ideal candidate is detail-oriented, customer-focused, and thrives in a fast-paced environment where accuracy, organization, and teamwork are essential to success.


Responsibilities and Accountabilities: 


  • Understanding of lending regulations, including but not limited to the preparation of Initial Disclosure documents, as they relate to TILA-RESPA (Loan Estimate completion) and Home Mortgage Disclosure Act (HMDA). 
  • Knowledge of Cornerstone Bank mortgage products. Ability to analyze customer needs, identify options for appropriate loan programs to discuss with the AVP Closing Manager and Secondary Market Manager.
  • Conducts initial loan review and customer contact, requests 3rd party reports and verifications, contacts appropriate party about missing documentation. 
  • Reviews all mortgage loan file documentation for Retail Lending Department customers, and other information relating directly to the loan. Verifies the accuracy of the file content. Reviews loan documents for signatures and dates.
  • Identifies missing/incorrect documentation in loan packages/files. Notifies AVP Closing Manager and Secondary Market Manager, of discrepancies and follows direction provided to resolve. 
  • Orders comparison appraisals for 10% of the Home Equity valuation products. 
  • Reviews contents of all mortgage loan files to ensure the loan file satisfies federal/state regulatory standards and compliance guidelines; utilizes appropriate resources to remain current on regulatory changes.
  • Obtain and analyze information to process mortgage applications which includes, but is not limited to, credit reports, appraisals, title work, verification of employment, and any other pertinent information.
  • Knowledge of Secondary Market (Freddie Mac/Fannie Mae) underwrite requirements. Responsible for keeping up with changes in Cornerstone Bank’s underwriting policies and procedures. Attend relevant meetings and seminars as requested by supervisor.
  • Loan Generalist are to consistently update and maintain loan status in our loan origination system. Document work performed on loan files in our loan origination system.
  • Responsible in meeting department service level goals.
  • Performs miscellaneous administrative and clerical support duties as required.
  • Performs all duties in accordance with prescribed regulatory compliance guidelines.
  • Other related duties as required. 


Requirements: 

 

  • Strong attention to detail and ability to meet deadlines in a fast-paced environment.
  • Excellent communication, organizational, customer service, interpersonal, and computer skills.
  • Ability to adapt to changing processes, priorities, and department needs.
  • Proficiency with Microsoft Office applications, including Word and Excel.
  • Ability to learn and effectively navigate lending and loan origination systems.
  • Working knowledge of banking products and services.
  • Ability to maintain accuracy and confidentiality while handling sensitive customer information.


Education / Training / Experience

  • High school diploma or equivalent required.
  • One to two years of loan processing, mortgage operations, banking, or related experience preferred.
  • Experience working with loan origination systems and mortgage documentation preferred.
  • Familiarity with mortgage lending regulations and compliance requirements is a plus.

 

INDEPENDENT ACTION 

Performs work independently within scope of established guidelines and practices. Consults with Manager where clarification or exception to Bank policy may be required. 

NOTE: These statements are intended to describe the general nature and level of work involved for this job. It is not an exhaustive list of all responsibilities, duties and skills required for this job. 

Cornerstone Bank is an Equal Opportunity Employer. In compliance with Equal Opportunity Guidelines and the Americans with Disabilities Act, Cornerstone Bank provides reasonable accommodations to qualified individuals with disabilities and encourages both prospective and current employees to discuss potential accommodations with the employer.

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