Mortgage Loan Officer Salary at Bbmc Mortgage BETA

How much does a Bbmc Mortgage Mortgage Loan Officer make?

As of December 2024, the average annual salary for a Mortgage Loan Officer at Bbmc Mortgage is $49,685, which translates to approximately $24 per hour. Salaries for Mortgage Loan Officer at Bbmc Mortgage typically range from $42,679 to $57,144, reflecting the diverse roles within the company.

It's essential to understand that salaries can vary significantly based on factors such as geographic location, departmental budget, and individual qualifications. Key determinants include years of experience, specific skill sets, educational background, and relevant certifications. For a more tailored salary estimate, consider these variables when evaluating compensation for this role.

DISCLAIMER: The salary range presented here is an estimation that has been derived from our proprietary algorithm. It should be noted that this range does not originate from the company's factual payroll records or survey data.

BBMC Mortgage Overview

Website:
mybbmc.com
Size:
500 - 1,000 Employees
Revenue:
$10M - $50M
Industry:
Financial Services

We have the right people, take the right approach, and find the right mortgage solution for you! Putting the Community back into Community Banking.Mission:BBMC Mortgage has the right people who understand complex and sensitive issues where banking and real estate intersect. And, perhaps most importantly, we take the right approach in helping our customers maneuver the financing process in as effective and efficient manner as possible. As a subsidiary of Bridgeview Bank Group, a 40 year family owned Community Bank with 15 branches throughout Chicagoland, BBMC is dedicated to putting the Community back into Community Banking.Description:MortgagesOwning a home is one of the most important purchases you will ever make. Whether you are a first-time buyer, moving up to a larger home, building a new home, or looking to purchase a vacation home, you want it to be just the right house located in just the right community for just the right price.RefinancingPerhaps you already have a mortgage but are looking to refinance to a more favorable rate or term. Chances are there is a refinancing option that is just right for your situation. Maybe what you need is the ability to tap the equity you have earned in your home through the years for the money you need right now to undertake home improvements, pay off tuition, consolidate debts or take a long awaited vacation.

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What Skills Does a person Need at Bbmc Mortgage?

At Bbmc Mortgage, specify the abilities and skills that a person needs in order to carry out the specified job duties. Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.

  1. Financial services: A services provided by the finance industry, which encompasses a broad range of businesses that manage money. These services involve banking, brokerage, mortgages, credit cards, payment services, real estate, investment funds, taxes and accounting.
  2. Mortgage Loans: A mortgage loan or, simply, mortgage (/ˈmɔːrɡɪdʒ/) is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged. The loan is "secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan)".
  3. Underwriting: Underwriting services are provided by some large financial institutions, such as banks, or insurance or investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liability arising from such guarantee. An underwriting arrangement may be created in a number of situations including insurance, issue of securities in a public offering, and bank lending, among others. The person or institution that agrees to sell a minimum number of securities of the company for commission is called the underwriter. The name derives from the Lloyd's of London insurance market. Financial bankers, who would accept some of the risk on a given venture (historically a sea voyage with associated risks of shipwreck) in exchange for a premium, would literally write their names under the risk information that was written on a Lloyd's slip created for this purpose.
  4. Loan Origination: Loan origination is the process by which a borrower applies for a new loan, and a lender processes that application. Origination generally includes all the steps from taking a loan application up to disbursal of funds (or declining the application). For mortgages, there is a specific mortgage origination process. Loan servicing covers everything after disbursing the funds until the loan is fully paid off. Loan origination is a specialized version of new account opening for financial services organizations. Certain people and organizations specialize in loan origination. Mortgage brokers and other mortgage originator companies serve as a prominent example. There are many different types of loans. For more information on loan types, see the loan and consumer lending articles. Steps involved in originating a loan vary by loan type, various kinds of loan risk, regulator, lender policy, and other factors.
  5. Pricing: Pricing is a process of fixing the value that a manufacturer will receive in the exchange of services and goods.

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Check more jobs information at Bbmc Mortgage

Job Title Average Bbmc Mortgage Salary Hourly Rate
2 Banker $103,309 $50
3 Mortgage Banker $137,579 $66
4 Regional Sales Manager $128,513 $62
5 Sales Manager $134,577 $65
6 Senior Mortgage Consultant $52,682 $25
7 Branch Coordinator $76,247 $37
8 Manager $113,474 $55
9 Marketing Manager $122,032 $59
10 Mortgage Consultant $137,579 $66
11 Senior Mortgage Loan Officer $66,172 $32
12 Manager, Operations $117,798 $57

Hourly Pay at Bbmc Mortgage

The average hourly pay at Bbmc Mortgage for a Mortgage Loan Officer is $24 per hour. The location, department, and job description all have an impact on the typical compensation for Bbmc Mortgage positions. The pay range and total remuneration for the job title are shown in the table below. Bbmc Mortgage may pay a varying wage for a given position based on experience, talents, and education.
How accurate does $49,685 look to you?

FAQ about Salary and Jobs at Bbmc Mortgage

1. How much does Bbmc Mortgage pay per hour?
The average hourly pay is $24. The salary for each employee depends on several factors, including the level of experience, work performance, certifications and skills.
2. What is the highest salary at Bbmc Mortgage?
According to the data, the highest approximate salary is about $57,144 per year. Salaries are usually determined by comparing other employees’ salaries in similar positions in the same region and industry.
3. What is the lowest pay at Bbmc Mortgage?
According to the data, the lowest estimated salary is about $42,679 per year. Pay levels are mainly influenced by market forces, supply and demand, and social structures.
4. What steps can an employee take to increase their salary?
There are various ways to increase the wage. Level of education: An employee may receive a higher salary and get a promotion if they obtain advanced degrees. Experience in management: an employee with supervisory experience can increase the likelihood to earn more.