Loan Processor Salary at Mohela BETA

How much does a Mohela Loan Processor make?

As of May 2025, the average annual salary for a Loan Processor at Mohela is $45,121, which translates to approximately $22 per hour. Salaries for Loan Processor at Mohela typically range from $40,627 to $49,946, 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.

Website:
mohela.com
Size:
500 - 1,000 Employees
Revenue:
$200M - $500M
Industry:
Financial Services

MOHELA is a student loan servicer, providing best-in-class service with convenient ways for borrowers to manage their loans. MOHELA received the first not-for-profit contract and began servicing student loans owned by the federal government under the U.S. Department of Education Federal Loan Program in October 2011.

See similar companies related to Mohela

What Skills Does a person Need at Mohela?

At Mohela, 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. 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.
  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 Processing: The steps taken by an institution lender from the time a request for a loan application is received to the time the loan is approved or denied, including taking the application, credit investigation, evaluation of the loan and other steps.
  5. specimen processing: A specimen processor receives and processes specimens such as blood and urine samples in a laboratory, captures data and handles client and healthcare practitioner inquiries

Related Jobs

Independent Community Bank
O'Fallon , IL

Job Description Job Description This Full-Time position requires an energetic, motivated, dedicated, detail oriented, and reliable individual with good math and communication skills as well as a friendly and positive team attitude. Loan Processing, Laser Pro and other banking services experience is preferred. Qualified and career-minded individuals please mail your resume to: H.R. Dept., P.O. Box 1626, O'Fallon, Illinois 62269-1626. EOE Company Description Independent Community Bank since 1959. Company Description Independent Community Bank since 1959.


Sponsored
4/30/2025 12:00:00 AM
Security Equipment Supply Inc
Earth City , MO

Job Description Job Description SECURITY EQUIPMENT SUPPLY HUMAN RESOURCE BUSINESS PARTNER JOB DESCRIPTION The following is the basic job description for the HRBP position current as of the date noted above. Any alterations, substitutions, or additions must be approved in writing by two of the following people: Human Resource Manager, Controller/Accounting Director, and Operations Manager. This position reports directly to the Human Resources Manager and indirectly to the Operations Manager. Basic Function: The primary function of this position is to perform HR related duties at a professional level and work closely with management in supporting the corporate office and branches. This position holds a leadership role on the Extended Leadership Team (XLT). The functional areas of responsibility are high level projects, full life cycle recruiting, training and development, mentorship programs, strategic systems and processes automation, regulatory labor compliance, employee relations, pay


Sponsored
4/30/2025 12:00:00 AM
Rose International
O'Fallon , MO

Date Posted: 04/25/2025 Hiring Organization: Rose International Position Number: 481771 Job Title: Site Reliability Engineer (SRE) Job Location: O Fallon, MO, USA, 63368 Work Model: Hybrid Shift: Hybrid - 3 days onsite per week. Employment Type: Temporary Estimated Duration (In months): 13 Min Hourly Rate ($): 75.00 Max Hourly Rate ($): 80.00 Must Have Skills/Attributes: CI/CD tools, DevOps, Java, Oracle, Site Reliability Engineering (SRE) Job Description ***Only qualified Senior BizOps Engineer candidates located near the St Louis MO area to be considered due to the position requiring a Hybrid presence*** Required Education: • Bachelor's degree in computer science Skills & Abilities: • Experience with algorithms, data structures, scripting, pipeline management, and software design. • Systematic problem-solving approach, coupled with strong communication skills and a sense of ownership and drive. • Ability to help debug and optimize code and automate routine tasks. • We support many di


Sponsored
4/30/2025 12:00:00 AM
Royal Banks of Missouri
Saint Charles , MO

Summary: The Loan Documentation Specialist II supports Loan Officers as well as the entire Royal Banks of Missouri Lending Team. The documenter is responsible for reviewing loan files, making requests, and collecting key documents, preparing the loan file and loan closing package, and meeting closing deadlines. Accurately perform loan processing duties, loan documentation, file setup, loan booking, and any necessary follow-up in association with commercial and consumer loan files for new, renewed, denied or withdrawn loans for loan officers and clients by performing the following duties. Duties and Responsibilities include the following. Other duties may be assigned. Advanced knowledge and experience in commercial, consumer, and SBA loan documentation. * Prepares all necessary documentation and correspondence in conjunction with new, renewed, withdrawn, and denied loans. * Advanced organizational skills for loan files assigned for documentation and/or booking. * Ability to multi-task a


Sponsored
4/29/2025 12:00:00 AM
Automotive Product Consultants
Chesterfield , MO

Job Description Job Description About Us: Automotive Product Consultants (APC) provides an array of services in the automotive industry and other industries. Our core service, the APC Follow-Up Program, is a proven system that provides dealerships with a second opportunity to sell sales and service customers F&I products after they have left the dealership. Principal Purpose of Position: At APC, we are a little different from other call centers as all of our marketing is branded. We have relationships with over 3,000 different dealers and a handful of auto manufacturers that we market on behalf on. As a sales rep you will be answering inbound sales call from branded marketing and making outbound calls to follow up with these leads. Duties and Responsibilities: • Answer inbound sales calls: Manage a high volume of inbound calls, exceeding 40 plus calls per day, while maintaining professionalism and providing excellent customer service. • Make follow-up sales calls: Conduct follow-up cal


Sponsored
4/29/2025 12:00:00 AM
UNLIMITED TAXES
Saint Louis , MO

Job Description Job Description We are seeking a Tax Office Manager! You will be responsible for the effective management and profitable operation of your assigned branch office. Responsibilities: Coordinate the approval process for all loans and lines of credit Oversee the flow of cash and financial investments Analyze information to assess current and future financial statuses Review costs for optimal budget planning Evaluate reporting systems and collection procedures Qualifications: Previous experience in financial branch management, financial services, or other related fields Knowledge of common banking practices Strong leadership qualities Ability to work under pressure Company Description Many people like to call this the best job ever because the structure that is set in place for Employees to make enough income to take care of there families for an entire year Company Description Many people like to call this the best job ever because the structure that is set in place for Emp


Sponsored
4/28/2025 12:00:00 AM
Enterprise Bank and Trust
St. Peters , MO

Enterprise Bank & Trust was founded in the spirit of entrepreneurship and community. From the small mom-and-pop coffee shop to the large construction company that employs local people, our goal is to help businesses succeed and our communities thrive. With offices in Arizona, California, Florida, Kansas, Missouri, New Mexico, Nevada and Texas, we’re strong, growing and committed to supporting the communities we serve. We extend this commitment to the community to our associates, offering annual paid volunteer time off and charitable-matching opportunities. Voted a Best Bank to Work For by American Banker for multiple years, we offer our associates an array of benefits and the opportunity to chart their own career path with us. Join us in the pursuit of our mission to guide people to a lifetime of financial success, and enjoy a career filled with professional growth opportunities, interesting colleagues and the satisfaction of supporting our communities. Together, there’s no stopping yo


Sponsored
4/1/2025 12:00:00 AM
Enterprise Bank and Trust
Creve Coeur , MO

Enterprise Bank & Trust was founded in the spirit of entrepreneurship and community. From the small mom-and-pop coffee shop to the large construction company that employs local people, our goal is to help businesses succeed and our communities thrive. With offices in Arizona, California, Florida, Kansas, Missouri, New Mexico, Nevada and Texas, we’re strong, growing and committed to supporting the communities we serve. We extend this commitment to the community to our associates, offering annual paid volunteer time off and charitable-matching opportunities. Voted a Best Bank to Work For by American Banker for multiple years, we offer our associates an array of benefits and the opportunity to chart their own career path with us. Join us in the pursuit of our mission to guide people to a lifetime of financial success, and enjoy a career filled with professional growth opportunities, interesting colleagues and the satisfaction of supporting our communities. Together, there’s no stopping yo


Sponsored
4/1/2025 12:00:00 AM

Check more jobs information at Mohela

Job Title Average Mohela Salary Hourly Rate
2 Software Developer $120,633 $58
3 System Support Technician $58,977 $28
4 Telecom Senior Engineer $82,664 $40
5 Test Engineer $104,127 $50
6 Web Developer $89,593 $43
7 Accountant II $70,693 $34
8 Accounting Specialist I $43,509 $21
9 Business Analyst $101,183 $49
10 Call Center Customer Service Representative $37,567 $18
11 Call Representative $42,545 $20
12 Controller $247,059 $119
13 Conversions Specialist $74,746 $36

Hourly Pay at Mohela

The average hourly pay at Mohela for a Loan Processor is $22 per hour. The location, department, and job description all have an impact on the typical compensation for Mohela positions. The pay range and total remuneration for the job title are shown in the table below. Mohela may pay a varying wage for a given position based on experience, talents, and education.
How accurate does $45,121 look to you?

FAQ about Salary and Jobs at Mohela

1. How much does Mohela pay per hour?
The average hourly pay is $22. 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 Mohela?
According to the data, the highest approximate salary is about $49,946 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 Mohela?
According to the data, the lowest estimated salary is about $40,627 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.