Article

What does a Mortgage Loan Processor do?

Learn all about Mortgage Loan Processor duties, skills and much more. Get expert advice on how to become a Mortgage Loan Processor.

Photo of Brenna Goyette
Brenna Goyette
Certified Professional Resume Writer, Career Expert

Published 4 min read

A mortgage loan processor is responsible for collecting and verifying the required documentation for a home loan application. This may include financial documents, such as tax returns and pay stubs, as well as information on the property being purchased. The processor then forwards this documentation to the underwriter for approval.

Mortgage Loan Processor job duties include:

  • Review loan applications and documentation to verify that all information is complete and meets lending requirements
  • Gather required documentation from applicants
  • Analyze applicant financial information and credit history
  • Verify employment and income
  • Determine whether the loan applicant meets the qualifications for a loan program
  • Prepare loan application files for underwriting approval
  • Communicate with loan applicants throughout the process
  • Coordinate with other departments to obtain necessary information
  • Review final approval conditions with applicants
  • Ensure all loans are processed in a timely and efficient manner

Mortgage Loan Processor Job Requirements

A mortgage loan processor is responsible for collecting and verifying the required documentation for a mortgage loan application. They must have strong attention to detail and organizational skills. A high school diploma is typically required, and some employers may prefer candidates with postsecondary education or relevant experience. There are no formal education requirements or certification needed to become a mortgage loan processor, but completing a professional development program can be beneficial. Some employers may require one to three years of experience in the financial industry or in customer service.

Mortgage Loan Processor Skills

  • Time management
  • Communication
  • Organization
  • Research
  • Writing
  • Math
  • Critical thinking
  • Computer skills
  • Detail oriented
  • Multitasking
  • Customer service

Related: Top Mortgage Loan Processor Skills: Definition and Examples

How to become a Mortgage Loan Processor

A mortgage loan processor is responsible for collecting and verifying the required documentation for a mortgage loan application. They also calculate the applicant’s debt-to-income ratio and review their credit history. Mortgage loan processors must have strong attention to detail and excellent communication skills.

To become a mortgage loan processor, you will need at least a high school diploma. However, many employers prefer candidates who have completed some postsecondary education, such as courses in business or finance. You will also need to have strong computer skills, as you will be using various software programs to process loans. Experience in customer service or administrative work can be helpful, as you will be working closely with both loan applicants and loan officers.

If you are interested in becoming a mortgage loan processor, start by researching different education and training options. Once you have the necessary qualifications, search for job openings at banks, credit unions, or mortgage companies. Be sure to highlight your strong attention to detail and excellent communication skills in your cover letter and resume. With hard work and dedication, you can become a mortgage loan processor and help people achieve their homeownership dreams.

Related: Mortgage Loan Processor Resume Example

Related: Mortgage Loan Processor Interview Questions (With Example Answers)