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The average pay for a Mortgage Loan Processor is $39,246 per year. Most people move on to other jobs if they have more than 20 years' experience in this field.otal Pay (?XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job.
Job Description for Mortgage Loan Processor. Mortgage loan processors are tasked with double-checking all information in a mortgage loan file before submitting it to an underwriter. This includes specifics such as debt-to-income ratios and the employment information of the person applying for the loan.