First Central State Bank Salary for Loan Operations Officer BETA
What is the average salary for a Loan Operations Officer at First Central State Bank in the United States?
Based on our data, it appears that the optimal compensation range for a Loan Operations Officer at First Central State Bank is between $61,245 and $84,653, with an average salary of $72,297.
Salaries can vary widely depending on the region, the department and many other important factors such as the employee’s level of education, certifications and additional skills.
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.
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What Skills Does a person Need at First Central State Bank?
At First Central State Bank, 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.
- Loan Servicing: Loan servicing is the process by which a company (mortgage bank, servicing firm, etc.) collects interest, principal, and escrow payments from a borrower. The vast majority of mortgages are backed by the government or government-sponsored entities (GSEs) through purchase by Fannie Mae, Freddie Mac, or Ginnie Mae (which purchases loans insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA)). Because GSEs and private loan investors typically do not service the mortgage loans that they purchase, the bank who sells the mortgage will generally retain the right to service the mortgage pursuant to a master servicing agreement. The payments collected by the mortgage servicer are remitted to various parties; distributions typically include paying taxes and insurance from escrowed funds, remitting principal and interest payments to investors holding mortgage-backed securities (or other types of instruments backed by pools of mortgage loans), and remitting fees to mortgage guarantors, trustees, and other third parties providing services. The level of service varies depending on the type of loan and the terms negotiated between the servicer and the investor seeking their services, and may also include activities such as monitoring delinquencies, workouts/ restructurings and executing foreclosures.
- Customer Service: Customer service is the provision of service to customers before, during and after a purchase. The perception of success of such interactions is dependent on employees "who can adjust themselves to the personality of the guest". Customer service concerns the priority an organization assigns to customer service relative to components such as product innovation and pricing. In this sense, an organization that values good customer service may spend more money in training employees than the average organization or may proactively interview customers for feedback. From the point of view of an overall sales process engineering effort, customer service plays an important role in an organization's ability to generate income and revenue. From that perspective, customer service should be included as part of an overall approach to systematic improvement. One good customer service experience can change the entire perception a customer holds towards the organization.
- Leadership: Knowledge of and ability to employ effective strategies that motivate and guide other members within our business to achieve optimum results.
- 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)".
- Problem Solving: Analyzing and identifying the root cause of problems and applying critical thinking skills to solve problems.
Related Jobs
Check more jobs information at First Central State Bank
| Job Title | Average First Central State Bank Salary | Hourly Rate | |
|---|---|---|---|
| 2 | Assistant Cashier | $24,192 | $12 |
| 3 | Bank Teller | $29,421 | $14 |
| 4 | Mortgage Loan Closer | $46,657 | $22 |
| 5 | Mortgage Loan Officer | $39,733 | $19 |
| 6 | Receptionist | $31,758 | $15 |
| 7 | Senior Vice President | $175,193 | $84 |
| 8 | Branch Manager | $60,297 | $29 |
| 9 | Credit Analyst | $55,456 | $27 |
| 10 | Manager, Loan Operations | $135,265 | $65 |
| 11 | Teller | $29,421 | $14 |
| 12 | Vice President, Business Development | $206,402 | $99 |
| 13 | Customer Service Representative | $31,157 | $15 |
Hourly Pay at First Central State Bank
FAQ about Salary and Jobs at First Central State Bank
The average hourly pay is $35. The salary for each employee depends on several factors, including the level of experience, work performance, certifications and skills.
According to the data, the highest approximate salary is about $84,653 per year. Salaries are usually determined by comparing other employees’ salaries in similar positions in the same region and industry.
According to the data, the lowest estimated salary is about $61,245 per year. Pay levels are mainly influenced by market forces, supply and demand, and social structures.
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.