Day in the life
A Day in the Life of a Loan Processor
What loan processors actually do from the start of a shift to the end: the tasks, tools, schedule and realities of the job.
What is a typical day like for a loan processor?
Review the pipeline. From there, the day usually includes collect applicant documents, verify income and employment, and order appraisals and title. Full time, with crunch times at month-end closings.
Hour by hour: a typical shift
No two days are identical, but this timeline reflects a realistic day for a loan processor working full time.
- Review the pipeline.
- Request missing documents.
- Verify employment.
- Order an appraisal.
- Submit a file to underwriting.
- Clear underwriting conditions.
- Schedule a closing.
Where loan processors work
Processors work in bank and mortgage offices, and many work remotely.
Hours and schedule
Full time, with crunch times at month-end closings.
Tasks you’ll do most often
- Collect applicant documents
- Verify income and employment
- Order appraisals and title
- Check files for completeness
- Submit to underwriting
- Clear conditions
- Prepare for closing
Tools you’ll use every day
- Encompass
- Loan origination systems
- Verification services
- Document portals
- Excel
- E-signature tools
The best and hardest parts of the job
What people like
- No degree needed
- Remote options
- Good pay in busy markets
- Clear path to underwriting
What’s hard
- Volume swings with rates
- Deadline pressure
- Chasing documents
- Detail-heavy
You’ll likely thrive if…
- I’m organized
- I follow up relentlessly
- I like deadlines
- I’m detail-oriented
- I want remote options
- I don’t need a degree
Not sure? Take the free Loan Processor fit quiz or the Career Match Quiz.
Staying safe on the job
- Protect borrower data
- Follow fair lending laws
- Prevent wire fraud
- Follow TRID timing