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Virtual Loan Processor Jobs in Chicago, IL (NOW HIRING)

Associatedbank

Virtual Financial Advisor

Chicago, IL

$21.64 - $37.09/hr

... process. Associated Bank conducts a thorough background check on all new hires. Role Summary The ... Personal banking, loan, investmentand insurance benefits. Associated Bank serves more than 120 ...

Pride Global

CDO Portfolio Administrator

Chicago, IL · On-site

$18 - $19/hr

About the job Loan Administrator Location: Chicago, IL Duration: 3-Month Contract Pay Rate: $18-$19/hour on W2 Schedule: Hybrid - 3 days onsite per week Interview Process: 1-2 virtual interview ...

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Virtual Loan Processor information

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How much do virtual loan processor jobs pay per hour?

As of Aug 25, 2026, the average hourly pay for virtual loan processor in Chicago, IL is $21.94, according to ZipRecruiter salary data. Most workers in this role earn between $18.56 and $24.76 per hour, depending on experience, location, and employer.

What is a virtual loan processor?

A Virtual Loan Processor is responsible for handling loan applications remotely, ensuring that all required documents are collected, verified, and submitted for approval. They communicate with borrowers, loan officers, and underwriters to facilitate a smooth loan process. Their tasks typically include reviewing financial documents, ensuring compliance with lending regulations, and updating loan files in digital systems. This role requires strong organizational skills, attention to detail, and proficiency with loan processing software.

What are the key skills and qualifications needed to thrive as a virtual loan processor?

A Virtual Loan Processor requires strong analytical skills, attention to detail, and knowledge of mortgage or loan processing procedures, typically backed by industry experience or relevant education. Familiarity with loan origination systems (LOS), electronic document management tools, and compliance software is often necessary, along with any certifications in finance or mortgage processing. Excellent organizational skills, problem-solving ability, and effective communication are soft skills that help candidates excel in this remote environment. These competencies are vital to efficiently manage loan files, ensure regulatory compliance, and deliver a seamless experience to both borrowers and lending partners.

What are typical challenges a virtual loan processor might face while working remotely?

One common challenge for Virtual Loan Processors is maintaining effective communication with clients, underwriters, and team members in a remote setting, which requires proactive follow-up and strong digital collaboration skills. Managing multiple loan files simultaneously while ensuring accuracy and meeting tight deadlines can also create time management pressures. To overcome these challenges, successful processors leverage organizational tools, stay updated on regulatory changes, and prioritize clear, consistent communication. Many employers provide training and access to secure digital platforms to support remote productivity, helping you succeed in this dynamic and rewarding role.

What are the most commonly searched types of Loan Processor jobs in Chicago, IL?

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

What are popular job titles related to Virtual Loan Processor jobs in Chicago, IL?

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

What job categories do people searching Virtual Loan Processor jobs in Chicago, IL look for?

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

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

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

Virtual Loan Processor jobs near you
Infographic showing various Virtual Loan Processor job openings in Chicago, IL as of August 2026, with employment types broken down into 85% Full Time, 12% Part Time, 2% Contract, and 1% Nights. Highlights an 32% Physical, 2% Hybrid, and 66% Remote job distribution, with an average salary of $45,644 per year, or $21.9 per hour.

Loan Processor - Consumer Direct

The Federal Savings Bank

Chicago, IL • On-site

$45K - $55K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Re-posted yesterday

Job description

Description:

The Federal Savings Bank (“TFSB”) is actively searching for an experienced mortgage loan processing professional to support our Consumer Direct team. This position is responsible for processing of loans after conditional approval, communicating with borrowers to clear conditions, contacting third parties, and resubmitting to Underwriting.


Preference for qualified applicants located in Pacific time, however all applicants residing in the United States are encouraged to apply. Evening or weekend hours may be required based on the needs of the business.


Duties and Responsibilities:

  • Assume full ownership of loan files in your pipeline
  • Daily utilization of Encompass loan origination system
  • Set and maintain proper expectations with all parties on the loan file
  • Analyze package for completeness to ensure loan file meets investor guidelines
  • Clear loan conditions and communicate effectively with Sales, Processing, and Underwriting teams
  • Order 3rd party items, review & analyze title for all requirements and address any issues, insurance coverage for borrower
  • Maintain loan file compliance while managing pipeline as various volume levels
  • Work effectively under specific time constraints and meet end-of-month deadlines
  • Complete Bank's customer service training and apply to everyday communications with borrowers and mortgage bankers
Requirements:
  • High school diploma or equivalent required; 4-year degree preferred
  • 4+ years of recent mortgage processing experience required
  • Experience managing a pipeline of primarily refinance loans
  • Extensive experience processing VA cash-out refis (required)
  • Recent Correspondent Lending experience strongly preferred
  • Knowledge of agency loan programs, multiple investor loan programs, and underwriting criteria for government and conventional offerings
  • Proficiency with Encompass loan origination system
  • Ability to calculate income, including self-employed
  • Excellent interpersonal, communication, and time management skills
  • Ability to operate effectively & efficiently in high-pressure situations
  • All applicants must be flexible with their schedules as they may be required to work after-hours, especially during peak volume periods

What We Offer:

  • Medical, Dental, and Vision insurance plans
  • HSA and FSA plan options
  • Company-paid life insurance
  • 401k with partial match
  • Complimentary Employee Assistance Program (EAP)
  • Paid time off that increases with tenure (40 hrs. sick time; 80 hrs. Your Time Off to start)
  • 7 paid bank holidays
  • In-house virtual training opportunities to broaden your industry knowledge
  • Education Reimbursement
  • Employee Home Loan Discount Program
  • Employee recognition on a national scale
  • Frequent employee appreciation events
  • Big bank capability, small-bank feel

Compensation:

  • $45,000 - $55,000 annual base salary plus monthly bonus
  • Hired applicant will be eligible for a monthly incentive tied to individual production and achieving outlined goals

The Federal Savings Bank is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.