What does a typical mortgage processor make?
anyone offer any thoughts...???..
posted by Editor in Chief at 4:49 PM
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5 Comments:
A typical mortgage processor makes about 28,ooo to 35,000in salary plus bonus whiches brings in 35-45k a year.
It depends on your location. In Asheville NC, you can make 24 to 30 plus bonus. Here in Ft Worth, you make 36 to 50 plus bonus.
Best place to look is salary.com and put in your location.
here's a great website that actually gives you a breakdown comparison chart of salaries...
http://www.payscale.com/research/US/Job=Mortgage_Loan_Processor/Salary
It depends on your experience (been in the business for 7yrs plus). As of my last job, my base pay was $47k (Metro DC area). Most companies provide incentives & bonuses, depending on performance, but they are not guaranteed. They could be taken away. Your best bet would be to negotiate for a decent base pay.
Just a caution though: the mortgage business is cyclical and we are right now in a low period. I've been laid off twice this year (TWICE!) and the landscape doesn't look great in terms of wanting to get in the field.
Previous processing experience with one lender for 7 years however performing QC for past 4 - any idea what Las vegas would pay for no recent "processing" experience - not interested in a paycut,,, any comments?
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