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Mortgage Loan Processor Salary
in Maryland, United States

$28,142 (USD)

Average Salary

$14/hr

Average Hourly

$425

Average Bonus

Salary Recap

The average pay for a Mortgage Loan Processor is $28,142 a year and $14 an hour in Maryland, United States. The average salary range for a Mortgage Loan Processor is between $22,130 and $32,895. On average, a Bachelor's Degree is the highest level of education for a Mortgage Loan Processor. This compensation analysis is based on salary survey data collected directly from employers and anonymous employees in Maryland, United States.

Average Salary Chart

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Job Summary

Description:
  • Processes mortgage loans by verifying, compiling, and typing application information.
  • Checks residential loan application file to verify that application data is complete and meets establishment standards, including type and amount of mortgage, borrower assets, liabilities, and length of employment.
  • Gives recommendations to deny loans that do not meet standards.
  • Verifies accuracy of information by calling or writing credit bureau and employer.
  • Types loan application forms, using computer.
  • Calls specified companies to obtain property abstract, survey, and appraisal.
  • Informs supervisor of discrepancies in title or survey.
  • Submits mortgage loan application file for underwriting approval.
  • Types and mails approval and denial letters to applicants.
  • Submits approved mortgage loan file to mortgage loan closer for settlement.
  • Records data on status of loans, including number of new applications and loans approved, canceled, or denied, using computer.

Salary Potential

Estimated salary in 2023:
$32,624
5 Year Change:
16 %

Education

Skills

Mortgage Loan Processor Job Listings for Maryland, United States

Mortgage Loan Processor
Nov 1
us
First Home Mortgage
First Home Mortgage Corporation has an entry-level position available in our Crofton, MD branch for a Loan Processor. Individual will facilitate the setup of new loan submissions and will coordinate ...
Mortgage Loan Originator
Nov 1
Crofton, MD, USA
Residential Home Funding Corp.
We are seeking a Mortgage Loan Officer to become a part of our team! You will evaluate and ... Guide customers through the loan application process * File loan applications and supporting ...
Mortgage Loan Officer Assistant
Nov 27
Upper Marlboro, MD, USA
StaffLINK Consulting
The Loan Partner 2 will oversee the origination, file management, communication, and revenue of the ... All files turned into processing within 24 hours of meeting with the borrower. * Understands and ...
Mortgage Loan Originator (Rockville, MD)
Dec 14
Rockville, United States
Educational Systems FCU
Mortgage Loan Originator (Rockville, MD) Company Overview We're a fast-growing credit union worth ... Proficiency with mortgage origination/processing systems; Desk Top Underwriter or equivalent ...
Mortgage Banker (9256)
Sep 21
Annapolis, MD, USA
Severn Bank
Job Details Description The Mortgage Banker proactively solicits new residential mortgage business ... Provides complete loan applications to loan fulfillment partners, including processors ...
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