As of March 01, 2025, the average annual salary for a Loan Processor III in Ellicott City, MD is $59,210. Salary.com reports that pay typically ranges from $52,789 to $66,182, with most professionals earning between $46,943 and $72,529.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $64,442 | $5,370 | $1,239 | $31 |
| Average | $57,653 | $4,804 | $1,109 | $28 |
| 25th Percentile | $51,401 | $4,283 | $988 | $25 |
An entry-level Loan Processor III with under 1 year experience makes about $55,640. With less than 2 years of experience, a mid-level Loan Processor III makes around $56,398. After 2-4 years, the Loan Processor III pay rises to about $57,817. Those senior Loan Processor III with 5-8 years of experience earn roughly $60,535, and those Loan Processor III having 8 years or more experience are expected to earn about $62,385 on average.
| Levels | Salary |
|---|---|
| Entry Level Loan Processor III | $55,640 |
| Intermediate Level Loan Processor III | $56,398 |
| Senior Level Loan Processor III | $57,817 |
| Specialist Level Loan Processor III | $60,535 |
| Expert Level Loan Processor III | $62,385 |
| Entry Level | 3% |
| Mid Level | 2% |
| Senior Level | 0% |
| Top Level | 5% |
| Experienced | 8% |
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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.
Consumer Loans: a consumer loan is any type of loan made to a consumer by a creditor. The loan can be secured (backed by the assets of the borrower) or unsecured (not backed by the assets of the borrower).
Commercial Loans: A commercial loan is a debt-based funding arrangement between a business and a financial institution such as a bank. It is typically used to fund major capital expenditures and/or cover operational costs that the company may otherwise be unable to afford.
| Skill | Salary | Demand |
|---|---|---|
|
Team Management
|
$71,052 |
20%
|
|
Fintech
|
$69,868 |
18%
|
|
Planning
|
$66,315 |
12%
|
|
Regulatory Compliance
|
$63,947 |
8%
|
|
Financial Services
|
$62,762 |
6%
|
|
Team Operations
|
$62,170 |
5%
|
