As of March 01, 2025, the average annual salary for a Loan Processor I in Memphis, TN is $40,931. According to Salary.com, salaries can range from a low of $32,344 to a high of $49,959, with most professionals earning between $36,436 and $45,656.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $48,726 | $4,061 | $937 | $23 |
| Average | $43,683 | $3,640 | $840 | $21 |
| 25th Percentile | $38,886 | $3,241 | $748 | $19 |
An entry-level Loan Processor I with under 1 year experience makes about $40,100. With less than 2 years of experience, a mid-level Loan Processor I makes around $40,571. After 2-4 years, the Loan Processor I pay rises to about $41,615. Those senior Loan Processor I with 5-8 years of experience earn roughly $41,824, and those Loan Processor I having 8 years or more experience are expected to earn about $41,964 on average.
| Levels | Salary |
|---|---|
| Entry Level Loan Processor I | $40,100 |
| Intermediate Level Loan Processor I | $40,571 |
| Senior Level Loan Processor I | $41,615 |
| Specialist Level Loan Processor I | $41,824 |
| Expert Level Loan Processor I | $41,964 |
| Entry Level | 8% |
| Mid Level | 7% |
| Senior Level | 5% |
| Top Level | 4% |
| Experienced | 4% |
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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.
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.
Microsoft Office: Microsoft Office is a suite of desktop productivity applications that is designed by Microsoft for business use. You can create documents containing text and images, work with data in spreadsheets and databases, create presentations and posters.
Mortgage Lending: A mortgage loan is a secured loan that allows you to avail funds by providing an immovable asset, such as a house or commercial property, as collateral to the lender.
| Skill | Salary | Demand |
|---|---|---|
|
Listening
|
$56,484 |
38%
|
|
Leadership
|
$52,391 |
28%
|
|
Pricing
|
$48,298 |
18%
|
|
Underwriting
|
$46,252 |
13%
|
|
Coordination
|
$44,614 |
9%
|
|
Verbal Communication
|
$44,205 |
8%
|
