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Part Time Reverse Mortgage Loan Processor Jobs in Chicago, IL

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Part Time Reverse Mortgage Loan Processor information

See Chicago, IL salary details

$29.4K

$52.4K

$97.3K

How much do part time reverse mortgage loan processor jobs pay per year?

As of Aug 2, 2026, the average yearly pay for part time reverse mortgage loan processor in Chicago, IL is $52,437.00, according to ZipRecruiter salary data. Most workers in this role earn between $41,200.00 and $56,700.00 per year, depending on experience, location, and employer.

How much does a loan officer make on a $500,000 loan?

A reverse mortgage loan processor or loan officer typically earns a commission or fee based on the loan amount, often around 1% to 2%. For a $500,000 loan, this could translate to $5,000 to $10,000 in fees or commissions, depending on the company's compensation structure and the specific loan terms.

Can I work part-time as a mortgage loan officer?

Part-time work as a mortgage loan officer is possible, but it depends on the employer and licensing requirements. Many loan officers work full-time, but some companies offer part-time positions, especially for experienced professionals or in specific markets. Licensing and industry knowledge are essential regardless of full- or part-time status.

How much does a part-time mortgage loan officer make?

A part-time reverse mortgage loan processor typically earns between $15 and $25 per hour, depending on experience and location. Compensation may include commissions or bonuses based on loan volume, and the role often requires familiarity with loan processing software and certification in mortgage lending standards.

What is the dark side of reverse mortgage?

A reverse mortgage loan processor should be aware that reverse mortgages can carry risks such as high fees, potential for foreclosure if loan terms are not met, and the reduction of inheritance for heirs. Borrowers may also face complex eligibility requirements and the possibility of owing more than the home's value if the loan balance exceeds the property worth. Proper processing and clear communication are essential to mitigate these risks for clients.
What are the most commonly searched types of Reverse Mortgage Loan Processor jobs in Chicago, IL? The most popular types of Reverse Mortgage Loan Processor jobs in Chicago, IL are:
Part Time Reverse Mortgage Loan Processor jobs near you
Infographic showing various Part Time Reverse Mortgage Loan Processor job openings in Chicago, IL as of July 2026, with employment types broken down into 1% As Needed, 91% Full Time, 5% Part Time, and 3% Contract. Highlights an 97% Physical, 1% Hybrid, and 2% Remote job distribution, with an average salary of $52,437 per year, or $25.2 per hour.

Mortgage Direct Loan Officer

Alliant Credit Union

Chicago, IL • Hybrid

$30K - $43K/yr

Full-time, Part-time

Re-posted 12 days ago

Job description

Responsible for the development of new mortgage business from both credit union members, noncredit union referral sources and various lead aggregators. Prospecting non-member borrowers and referral sources as well as prospecting to credit unions provided lead opportunities. Stay current with credit union products and mortgage guidelines. Use knowledge of credit union products and mortgage guidelines, as well as an overall knowledge of mortgage lending and current market conditions.

Essential Responsibilities

  • Development of new mortgage business through referral sources such as realtors and past clients.
  • Conduct outbound calling and selling to member leads and credit union provided non-member leads.
  • Develop sales and prospects and continually grow a diverse referral base. Identify and sell Alliant’s mortgage strengths and niches.
  • Prospects and follows up with credit union provided leads; develops and consistently executes a goal-focused business plan.
  • Take accurate and complete first mortgage loan applications, collect initial documentation and forward to the processing unit.
  • Originate quality applications that meet Alliant’s product guidelines.
  • Set proper borrower expectations and work with members and processing to facilitate a smooth and timely member experience.
  • Work with borrower and processing unit throughout the loan process to ensure member satisfaction and expectations are met.
  • Originate quality applications that meet product guidelines.

Education & Years of Experience

  • Minimum - 4 Year Bachelors Degree in Business, Finance, Economics or Related
  • Minimum - 3 Years Consumer direct loan officer or related

In Lieu of Education

  • 5 Years Consumer Direct Loan Officer

Compensation & Benefits:

Typical hiring range:‏‏‎ ‎ $30,800.00 to $43,600.00‎ Annually. Actual compensation will be determined using factors such as experience, skills & knowledge.

‎Benefits: Alliant provides a benefits package including health care, vision, dental, and 401k with employer match including:

  • Annual performance bonus
  • Work from home up to 3 days a week
  • Paid parental leave
  • Employee discount programs
  • Time off including paid personal and sick days
  • 11 paid holidays
  • Education reimbursement

*Note that eligibility and cost of benefits can vary depending on the number of regularly scheduled hours, and job status such as regular full-time, regular part-time, or temporary employment.

Adhere to and ensure compliance of all business transactions with policy and process of the Bank Secrecy Act. Ensures compliance with all applicable state and federal laws, company procedures and policies. Maintains integrity and ethics in all actions and conversations with or regarding credit union members and their accounts; complies with Privacy Act directives.

The responsibilities listed do not contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this position. Duties, responsibilities and activities may change at any time with or without notice.