Mortgage Loan Processor Salary in Memphis, TN

How much does a Mortgage Loan Processor make in Memphis, TN?

As of April 01, 2025, the average annual salary for a Mortgage Loan Processor in Memphis, TN is $43,452. Salary.com reports that pay typically ranges from $39,408 to $49,134, with most professionals earning between $35,725 and $54,308.

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Salary range for a Mortgage Loan Processor

$39,408 to $49,134

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What is a Mortgage Loan Processor?

A Mortgage Loan Processor is responsible for reviewing and verifying all documentation related to mortgage loan applications. They work closely with loan officers, underwriters, and borrowers to ensure that all necessary information is accurate and complete. This includes gathering financial documents, ordering appraisals and title reports, and coordinating with third-party vendors. The Mortgage Loan Processor also communicates with all parties involved to provide updates on the status of the loan application and ensure that all requirements are met for final approval. Additionally, they may be responsible for preparing and submitting the loan file to the underwriting department for review. Overall, the Mortgage Loan Processor plays a crucial role in the mortgage lending process by ensuring that all necessary steps are taken to facilitate the approval and funding of mortgage loans.

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Job Openings for Mortgage Loan Processor in Memphis, TN

What does a Mortgage Loan Processor do?

Common responsibilities of a Mortgage Loan Processor

Collect and organize all necessary documentation from borrowers, such as income verification, credit reports, and property appraisals.

September 08, 2023

Communicate with borrowers, loan officers, and underwriters to ensure all necessary information is obtained and processed in a timely manner.

September 13, 2023

Coordinate with third-party vendors, such as title companies and insurance providers, to obtain required documents and services.

September 13, 2023

Review and verify mortgage loan applications for accuracy and completeness.

September 14, 2023

Ensure compliance with all federal and state regulations and company policies throughout the loan processing and approval process.

September 16, 2023

Prepare and submit loan files to underwriting for final approval.

October 29, 2023

Input and update loan information into the mortgage processing system.

November 02, 2023

Review and analyze financial documents, such as tax returns and bank statements, to assess borrower's creditworthiness.

November 09, 2023

Communicate loan status and updates to borrowers and loan officers throughout the processing timeline.

November 22, 2023

Assist with resolving any issues or discrepancies that arise during the loan processing and approval process.

November 29, 2023

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Mortgage Loan Processor Salary By Experience Levels in Memphis, TN

How much should you be earning in Mortgage Loan Processor in Memphis, TN based on your current experience?

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RELEVANT JOB EXPERIENCE

Length of experience is a pay differentiator. Those with greater experience may have an advantage in negotiating salary. For those with less experience, other factors such as education or special skills could impact your pay. Please visit Professional Salary Report for more details.

Mortgage Loan Processor Salary By Level of Education in Memphis, TN

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LEVEL OF EDUCATION

Depending on the job, educational levels may have a significant impact on pay levels. Be informed and understand how things like education and certifications can help to increase potential earnings for the career you are interested in. Please visit Professional Salary Report for more details.

Average Salary Range for Mortgage Loan Processor in Memphis, TN

Average Base Salary

Core compensation

39408

49134

43452

Average Total Cash Compensation

Includes base and annual incentives

40745

51600

45282

What is the average salary for Mortgage Loan Processor in 2025?

These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Mortgage Loan Processor in Memphis, TN. The base salary for Mortgage Loan Processor ranges from $39,408 to $49,134 with the average base salary of $43,452. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $40,745 to $51,600 with the average total cash compensation of $45,282.

View Average Salary for Mortgage Loan Processor as table

	Average Salary	Average Salary Range
Base Salary	$43,452	$39,408 - $49,134
Bonus	$1,829	$1,337 - $2,466
Total Pay	$45,282	$40,745 - $51,600

* Base Salary represents gross income before taxes and deductions. It does not include additional pay such as benefits, bonuses, profit sharing or commissions.

* Total Pay combines base salary, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job.

Mortgage Loan Processor Salary Near Memphis, TN

CITY, STATE	AVERAGE SALARY RANGE	COMPARE TO Memphis, TN
CITY, STATE Germantown, TN	AVERAGE SALARY RANGE $39,311 - $49,014	COMPARE TO Memphis, TN
CITY, STATE Southaven, MS	AVERAGE SALARY RANGE $39,349 - $49,061	COMPARE TO Memphis, TN
CITY, STATE Olive Branch, MS	AVERAGE SALARY RANGE $39,252 - $48,940	COMPARE TO Memphis, TN
CITY, STATE Jonesboro, AR	AVERAGE SALARY RANGE $39,113 - $48,767	COMPARE TO Memphis, TN
CITY, STATE Jackson, TN	AVERAGE SALARY RANGE $39,113 - $48,767	COMPARE TO Memphis, TN
CITY, STATE Tupelo, MS	AVERAGE SALARY RANGE $35,491 - $44,251	COMPARE TO Memphis, TN

See salaries for Mortgage Loan Processor in locations close to Memphis, TN. Pay for the same job may vary based on the location and on the location and on other factors such as the size of company, the industry, and other local conditions.

About Memphis, Tennessee

Memphis is a city located along the Mississippi River in southwestern Shelby County, Tennessee, United States. The 2017 city population was 652,236, making Memphis the largest city on the Mississippi River, second-largest city in Tennessee, as well as the 25th largest city in the United States. Greater Memphis is the 42nd largest metropolitan area in the United States, with a population of 1,348,260 in 2017. The city is the anchor of West Tennessee and the greater Mid-South region, which includes portions of neighboring Arkansas and Mississippi. Memphis is the seat of Shelby County, the most p...

Source: Wikipedia (as of 04/11/2019). Read more from Wikipedia

View Salary for Similar Jobs to Mortgage Loan Processor in Memphis, TN

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JOB TITLE	LOCATION	MINIMUM SALARY	MAXIMUM SALARY
JOB TITLE Intermediate Mortgage Loan Processor	LOCATION Memphis, TN	MINIMUM SALARY $41,800	MAXIMUM SALARY $50,700
JOB TITLE Mortgage Loan Processor II	LOCATION Memphis, TN	MINIMUM SALARY $41,785	MAXIMUM SALARY $50,675
JOB TITLE Entry Mortgage Loan Processor	LOCATION Memphis, TN	MINIMUM SALARY $38,500	MAXIMUM SALARY $45,300
JOB TITLE Mortgage Loan Processor I	LOCATION Memphis, TN	MINIMUM SALARY $38,470	MAXIMUM SALARY $45,228
JOB TITLE Mortgage Loan Processor Assistant	LOCATION Memphis, TN	MINIMUM SALARY $41,070	MAXIMUM SALARY $48,284
JOB TITLE Senior Mortgage Loan Processor	LOCATION Memphis, TN	MINIMUM SALARY $51,107	MAXIMUM SALARY $61,753

The Mortgage Loan Processor job could be listed using titles that are not exactly the same, but actually are for the same or very similar job. Here are some job titles in Memphis, TN that might be a good fit for the type of job and salary you are looking for.

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39408

49134

About Memphis, Tennessee Memphis is a city located along the Mississippi River in southwestern Shelby County, Tennessee, United States. The 2017 city population was 652,236, m....More

Memphis, Tennessee area prices were up 1.3% from a year ago

Mortgage Loan Processor Salary in popular cities: Nashville, Knoxville, Chattanooga

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