INDUSTRY STATS
According to the U.S. Bureau of Labor Statistics, Loan Processor positions are at a 1% growth rate, which is little to no change. With that said, there are currently 322,100 jobs in the market right now. The total number of jobs is expected to increase by 4,300 to 326,400 in the period of 2020-30.
What’s more, the median annual wage for the Loan Processor jobs was $63,960 in May 2020. The lowest 10% earned less than $33,650, and the highest 10% more than $133,850.
Our conclusion? The Loan Processor job market is wide open for candidates.
Top loan processor sections that make the best resume
- Header
- Professional summary
- Experience (with numbers and results)
- Relevant skills
- Education
- Certifications
What to include in your loan processor resume experience section
Loan processor resume experience section checklist:
- Use at least 3 and no more than 7 bullet points per position;
- Make your experience sound relevant to what you’re applying for;
- Combine responsibilities, results, and critical situations that you’ve handled well;
- Show that you’re willing to take up on challenges;
- Include numbers in any form you like.
Looking for some real experience section examples? We’ve gathered the best Loan Processor resume samples to help you. Check them out before building your own resume!
- Transfer, upgrade and maintain the company’s email database system.
- Assure that customer files are complete and in compliance.
- Monitor and maintain computer systems and networks; diagnose and solve software faults.
- Review loan registration/rate lock agreement to populate and issue proper loan disclosures.
- Retrieve signed loan disclosures, review and upload them accordingly into loan origination system
- Assist to order loan documents such as Title, Appraisals, Verification of Employment, Verification of Deposits; review documents thoroughly before submission to assure accuracy, completeness and compliance
- Liaison with all involved parties, including Branch Manager, Loan Officer, Underwriting Coordinator and the entire Operations team
- Mortgage/ Loan processor for BARCLAYS UK (United Kindom) Customers.
- Assessing the customer's value for their mortgage loans.
- Providing END To END service to the BARCLAYS customers with regards to their mortgage loan.
- Managing their Loan account completely till they pay off their mortgage loans.
- Trained in Conventional, FHA, VA and Jumbo Loans
- Maintained a pipeline of 70-90 loans in a fast-paced industry, closing approx. 45-55 loans per month while maintaining a service rating of 92% or higher for 10 years
- Responsibilities included consistent communication with borrowers, loan officers, private bankers, real estate agents, and title companies
- Established relationships with private label clients including Amcore, USAA, Charles Schwab, Key Bank, E*TRADE and Morgan Stanley
- Provided one on one contact with customers to gather documentation and satisfy underwriting conditions
- Developed strong partnerships with sales to ensure that closing dates were met and customer's needs were acted on immediately
- Gave input on best practices to management that was rolled out site wide
- Acted as team lead to assist manager during higher volume periods: Provided reporting to staff, ensured their timely response to inquiries and escalated issues to manager
- Provided managerial coverage for two team leads, acting as main point of contact for sales escalations and team issues during manager absences
- Promoted to AVP Operations Manager
- As a Project Manager, I successfully prosecuted integration of lending policies, procedures, and relating documents of acquired companies. Was depended upon and trusted in a number of fast paced, important projects that streamlined operations for the bank to continue residential lending during large mergers and acquisitions without any interruption in lending services for either bank involved. Known well for always meeting a deadline with a high integrity of work. I traveled all over the United States to perform onsite support and training for large corporate offices and loan processing centers.
- Before Project Management, I was working as third level support to our lending call center that supports all bank branches and the Customer Service Center to existing customers looking to acquire new loans and/or refinance existing home loans. Once I was well versed in the lending policies and procedures I was promoted to a Policy and Procedure Specialist. During this time, I wrote and published weekly newsletters for the Lending Division. Keeping up on the policy/procedural changes and reviewing any necessary information that was pertinent or needed review based on call center question frequency. Legal document review and making sure our policies and procedures complied with all government regulations an secondary market requirements were just part of my important job.
- Hired at American Savings Bank (later acquired by Washington Mutual Bank) originally to help with filing, typing and general office assistant, I was quickly hand selected by management to train the entire Lending Center on how to use the new processing system ACCESS 97. My eagerness to learn and grow within the company shined and within my first month at the bank, I received a pay increase and was promoted to Loan Processor with a full workload and portfolio. I quickly became one of the top producing Loan Processors.
- Process federal, institutional, and state financial assistance according to Department of Education rules and guidelines.
- Reconcile disbursements with business office monthly to ensure compliance with regulators.
- Interact with specific outside agencies to facilitate the student eligibility process.
- Responsible for a streamlined systems process with financial aid software to ensure effective university-wide communication.
- Managed process to sell loans to investors
- Managed documentation with title companies, FHA, warehouse banks
- Problem solving and addressing buy conditions issued by Investors
- Executed loan transfers, Wells Fargo, Chase, Flagstar, Bank of America
- Manage a retail financing program: identifying deficiencies and/or updates needed to enhance the program for all parties and managing operations
- Piloted different projects within the organization to create efficiencies
- Coaching and mentoring new employees
- Bookkeeping: using QuickBooks and Oracle applications and creating monthly reports for the Sr. Financial Analyst
- Create and maintain good relationships with clients
- Active contributor of the culture of teamwork and well-being
- Manage CRM for customer data
- Process employment verification and review credit reports
- Maintain filing system, back-up reception and maintain break room
- Assist Office Manager, Title Officer and CEO with administrative tasks
- Managed high volume pipeline of 60+ with meeting closing dates on time.
- Ensure an easy customer experience by appropriate borrower communication and timely responses.
- Review conditions receive and loan file thoroughly for accuracy and final underwriting approval.
- Assist with training new hires on operational tasks of loans through coaching sessions.
- Communication - Directly communicate with anywhere from 10 to 16 stakeholders and vendors throughout the loan process
- Leadership - Ensure all stakeholders meet timelines, while ensuring quality standards and in compliance with all mortgage regulations, in order to close over $4.5 million in loans each month with my team
- Negotiating - Working with multiple departments requires negotiating for what we need from different departments
- Critical Thinking - Often we must change strategies and sometimes it takes moving mountains to make a loan work; coming up with ideas to achieve the impossible is my specialty
- Vendor Management - Work directly with all vendors necessary for the loan process, from title, insurance, and credit companies, to federal agencies and borrower employers
- Perform follow-up work with prospects and existing clients.
- Obtain necessary customer documentation to support data provided in the application.
- Execute loan origination process.
- Submit loan submission packages for underwriter approval.
- Ensured all approvals fell within the established lending guidelines.
- Communicate and work with other professionals, including attorneys, county clerks and title companies to fund loans.
- Review initial loan approval and work with borrower to gather appropriate documentation.
- Collect all required documentation for the loan package.
- Create a loan submission package for the Underwriting department.
- Submit files to assigned Underwriter.
- Satisfy all conditions when received from Underwriter.
- Ensure that approval falls within the established lending guidelines.
- Communicate with other professionals, including attorneys, county clerks, and title companies.
- Reviews files, requests legal documents, and verifies customer information and prepares files for initial underwriting
- Consistently scores high on Quality Review Audits
- Manages loan from initial approval through final loan approval and submits loans to closing
- Accurately processes Conventional, FHA, and VA loans for captive and non-captive borrowers with quick closing dates and dirt starts
- Trained in Empower, Excel, Power Point, Word, Adobe, and Word Press.
- Evaluate the loan structure (FHA, VA) and reviewed the guidelines and financial statements of the loan
- Enter all personal data into the software to be uploaded to Title, Insurance, Lender, DU, etc.
- Submitted completed packages in a timely manner.
- Worked with customers in person and via telephone to answer questions, process transactions and resolve issues.
- Researched industry competitors and compiled detailed analysis data. Handled various accounting transactions.
- Performed hands-on duties in underwriting, origination, credit analysis, processing, and closings.
- Calyx software expert, with over six years of proven experience.
- Successfully completed Continuing Education Credits (“CECs”) as required.
- Analyze consumer credit reports and assist with credit repair.
- Serve as Maximum Equity Mortgage’s General Office Manager.
PRO TIP
Include quantitative data throughout your Loan Processor resume to impress the hiring manager. Real facts and figures that show off your competency as an audit manager go a long way. Did you reduce the costs of audits? Manage a large team? Boosted efficiency? Show off the real numbers!
Action Verbs for your Loan Processor Resume
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Top loan processor skills for your resume
Loan processor resume skills section checklist:
- Match your hard skills to the job description;
- Add keywords to pass applicant tracking systems;
- Don’t list soft skills such as ’teamwork’ – rather, mention how they’ve helped you gain success in some other sections of your Loan Processor resume;
- List only skills you actually have, keep lying out of the picture.
Top skills for your loan processor resume
SAP
SAP CI
Excel (Advanced)
VBA
MS Office
PowerPoint Presentations
Freedcamp
OneDrive
EBay
Communication
Negotiation
Critical thinking
Problem solving
Collaboration
Flexibitly
Resilience
Dedication
Empathy
PRO TIP
Avoid getting sidetracked by Applicant tracking software by including a tech skills' section matching the job description and your own qualifications.
Recommended reads:
Loan processor resume header: tips, red flags, and best practices
Checklist for your loan processor resume header
- Your name and surname in a legible and larger resume font
- The job title you’re applying for or your current job title as a subheading to your name
- Link to your portfolio or online profile, such as LinkedIn
- Address (City and State for the US; just your city for rest of the world)
- Email address
- Headshot (required or welcomed in the EU; not required and sometimes frowned upon in the US)
Stick to popular email providers such as Gmail or Outlook. And use these professional formats to create your username:
- first.last@gmail.com
- last.first@gmail.com
- firstlast@gmail.com
- f.last@gmail.com
- first.l@gmail.com
Recommended reads:
PRO TIP
Some companies, states, and countries have policies about identifying information like photos on your Loan Processor resume. Be sure to check all the relevant rules before submitting yours. If you’re in doubt, you can always try contacting the company’s HR department to ask for their policy.
Craft a strong loan processor resume summary
Loan processor resume summary checklist:
- Your total years of experience
- The industry you’re coming from
- One or two most remarkable accomplishments that have helped you - turn into a great professional
- Short sentences that add value – avoid filler words and phrases
Resume summary formula:
PRO TIP
Your summary should act as an elevator speech, briefly promoting how you will benefit the employer if hired. Pitch your strengths in the summary and expand on them in your Loan Processor experience section. Give examples like how your work benefited each employer.
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Highlight your education, certifications, and courses
What to include in your education and courses sections:
- Your highest education degree – this includes institution, course, and duration
- Certifications and courses that have helped you gain additional expertise
- Awards you’ve received as part of your education
- Entry-level positions only: relevant classes and projects
Top certifications for your loan processor resume
Become a Mortgage Loan Processor
Finibi Mortgage CEO, Joe Correa, teaches you how to become a mortgage loan processor
Advanced Mortgage Loan Processor: Essential Skills Training
Finibi Mortgage CEO, Joe Correa, teaches you how to take your mortgage loan processor career to the next level
Loan Processor & MLO Mortgage Math: Problems & Solutions
Mortgage skills training and SAFE Mortgage Loan Originator Licensing Exam math prep with 115 problems & solutions
Get Hired as a Mortgage Loan Processor
Finibi Mortgage CEO, Joe Correa, teaches you how to get hired as a mortgage loan processor
Mastering the Pre-qualification Process of a Mortgage Loan
CEO and Founder of Finibi Mortgage teaches you how to pre-qualify borrowers from start to finish
Recommended reads:
PRO TIP
If you hold a certain major and a minor, your majors should be mentioned first.
Drafting a Job-winning Loan Processor Resume
When drafting your resume, you can choose between three well-known formats:
- Reverse-chronological resume format;
- Functional skills-based resume format;
- Combination (or Hybrid) resume format.
Which format you decide to go for depends on two things: your personal preference and how experienced you are.
The reverse-chronological format is ideal for both really experienced people and those who joined the workforce just a couple of years ago. It’s also great if your experience combines different industries and jobs. Here, your most recent position comes at the top of your resume.
The functional skills-based resume format, on the other hand, is ideal for recent graduates or people who have no work experience whatsoever. It’s built around your skills, interests, and expertise. Ultimately, its goal is to show recruiters your biggest strengths and practical skills.
Combination resumes (also known as hybrid resumes) are great for all types of candidates – be they graduates, experienced professionals, or brave career changers. They usually follow a double-column format – one side focuses on your experience, while the other emphasizes your education, skills, interests, and accomplishments.
Here’s our resume format and style checklist:
- Choose a traditional resume font sized 12p;
- Go for standard 1-inch resume margins;
- Match the length of your Loan Processor resume with your experience – choose a one-page template if you have less than 10 years of experience, and be careful with two-page templates;
- Send your resume in PDF – in this way, you’ll avoid formatting issues and potential editing from third parties.
And in case you want to go the extra mile, check out our guide for crafting a resume that stands out.
Recommended reads.":
PRO TIP
Sometimes you’ll want to go after a job which requires more experience than you have. Instead of using a typical Loan Processor resume layout, you can use a creative layout. Getting noticed is the most important challenge and a creative resume layout might help you get invited for an interview as most of other accountants have boring resume designs.
Other sections worth including in your Loan Processor resume
Including other sections in your resume depends on the company, the position, and, ultimately, the industry. Here are some sections that will help you spice things up:
A loan processor resume that stands out
Recruiters look at tens of resumes every day. That’s why helping them remember yours is crucial for landing an interview.
A creative resume can help you show off both your personality and your expertise at the same time.
Creative sections about passions, favorite books, quotes, and even your daily routine are a great way to make your resume feel like a breath of fresh air.
What’s more, it will also point recruiters to the fact that you’re attentive to detail and can think outside the box of Word-generated black and white resumes.
What makes a great loan processor resume: key takeaways
- Choose a resume layout that sends the right message across and fits your current career situation;
- Create a resume header that shows your desired job title, and easy to find contact numbers;
- Be specific about your experience, accomplishments and future goals in your summary;
- Feature detailed metrics and specific examples that show the impact you made in your previous roles when describing your experience;
- List soft skills backed by examples;
- Add all of your technical skills and certifications that you have and match the job description;
- Show off a dash of personality in your resume that will demonstrate your culture fit and the right mix of hard and soft skills.
