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i know 2 people who are morgage loan processers..can someone explain to me what exactly that is?…they both have great houses and good money….how much does that job pay? i need 2 make really good money for my family once that time arrives.

1. what is the job?
2. what does it pay?
3. how do i become one?
4. what degree in college do i need to become one?

2 Thoughts on is this a good job?
  1. Reply
    P
    February 6, 2014 at 1:38 pm

    you should become a stripper the money is much better, plus all you have to do is get naked.

  2. Reply
    bathagent
    February 6, 2014 at 2:37 pm

    1. a loan processor helps the loan officer get a mortgage closed. They work with the paperwork and coordinate the lender, title, escrow or attorney, insurance agent. It is a great job to have. You have to be organized and like to work on many files at one time, with lots of people calling asking what’s the status, etc. Not get anxious or stressed out.
    2. some get an hourly salary plus bonus for closed loans. In NV I paid a very senior processor $ 15/hr plus $ 50 a file closed. Every area might be different. Starting salary might be as low as $ 8/hr but if you are good and learn, you can demand a higher wage.
    3. Find a jr. processor position with a big mortgage broker. most likely they will have an ad in the classified section. You can sometimes start as a receptionist but this will take longer. find a company that will let you learn all the different parts of processing eventually so you can be well rounded in all types of loans.
    4. no college required! you should be good at math (percentages and division) it’s basic math, but you’ll need to understand why a loan is approved or denied, calculate a loan amount, payment, etc. There are schools for processing but on the job training is best. seminars and conferences will help you advance once you’re on the job.

    good luck

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