Mortgage Processor Salary in Richmond, Virginia

How much does a Mortgage Processor make?

As of December 01, 2024, the average annual pay of Mortgage Processor in Richmond, VA is $44,738. While Salary.com is seeing that Mortgage Processor salary in Richmond, VA can go up to $55,911 or down to $36,782, but most earn between $40,574 and $50,586. Salary.com shows the average base salary (core compensation), as well as the average total cash compensation for the job of Mortgage Processor in the United States.

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Salary range for a Mortgage Processor

$40,574 to $50,586

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Mortgage Processor

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Job Openings for Mortgage Processor in Richmond, VA

What does a Mortgage Processor do?

Common responsibilities of a Mortgage Processor

Order title searches to confirm property ownership and ensure that there are no liens, unpaid taxes, or additional legal claims that will complicate the process.

December 30, 2022

Prepare written requests to the borrower identifying any missing documents required to support the application and update the loan origination system as needed.

August 14, 2022

Update Encompass with accurate reason(s) for the adverse action as soon as it is determined that applicants have withdrawn, cancelled, or have been denied, so compliance can send required notifications.

August 30, 2022

Performs data entry to update all internal computer systems and loan files with notes regarding all actions that affect the loan in accordance with company requirements.

March 27, 2023

Provide feedback to Loan Officers and/or Account Executives to ensure consistent follow-up regarding pre-approvals and/or full files and assist in resolving issues and/or possible counteroffers.

April 21, 2023

Demonstrate a thorough working knowledge of company guidelines and policies as well as all applicable laws and regulations related to mortgage lending in order to ensure compliance.

April 24, 2023

Communicate with applicant, Home Loan Consultant, and/or Home Loan Assistant to request required documentation.

April 26, 2023

Reviews new residential loan application files to verify that application data is complete and meets Company standards, including type and amount of mortgage, borrower assets, liabilities, and length of employment.

April 30, 2023

Request action from Disclosure Desk and other internal partners as required by valid change in circumstances.

May 19, 2023

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Mortgage Processor Salary By Experience Levels in Richmond, VA

How much should you be earning in Mortgage Processor in Richmond, VA 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 Processor Salary By Level of Education in Richmond, VA

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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 Processor in Richmond, VA

Average Base Salary

Core compensation

40574

50586

44738

Average Total Cash Compensation

Includes base and annual incentives

41955

53132

46622

What is the average salary for Mortgage Processor in 2024?

These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Mortgage Processor in Richmond, VA. The base salary for Mortgage Processor ranges from $40,574 to $50,586 with the average base salary of $44,738. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $41,955 to $53,132 with the average total cash compensation of $46,622.

View Average Salary for Mortgage Processor as table

	Average Salary	Average Salary Range
Base Salary	$44,738	$40,574 - $50,586
Bonus	$1,885	$1,382 - $2,545
Total Pay	$46,622	$41,955 - $53,132

* 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 Processor Salary Near Richmond, VA

CITY, STATE	AVERAGE SALARY RANGE	COMPARE TO Richmond, VA
CITY, STATE Petersburg, VA	AVERAGE SALARY RANGE $41,533 - $51,782	COMPARE TO Richmond, VA
CITY, STATE Virginia State University, VA	AVERAGE SALARY RANGE $41,533 - $51,782	COMPARE TO Richmond, VA
CITY, STATE Newport News, VA	AVERAGE SALARY RANGE $39,481 - $49,224	COMPARE TO Richmond, VA
CITY, STATE Hampton, VA	AVERAGE SALARY RANGE $39,481 - $49,224	COMPARE TO Richmond, VA
CITY, STATE Suffolk, VA	AVERAGE SALARY RANGE $39,242 - $48,926	COMPARE TO Richmond, VA
CITY, STATE Portsmouth, VA	AVERAGE SALARY RANGE $39,264 - $48,954	COMPARE TO Richmond, VA

See salaries for Mortgage Processor in locations close to Richmond, VA. 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 Richmond, Virginia

Richmond (/ˈrɪtʃmənd/) is the capital of the Commonwealth of Virginia in the United States. It is the center of the Richmond Metropolitan Statistical Area (MSA) and the Greater Richmond Region. Richmond was incorporated in 1742 and has been an independent city since 1871. As of the 2010 census, the city's population was 204,214; in 2016, the population was estimated to be 223,170, making Richmond the fourth-most populous city in Virginia. The Richmond Metropolitan Area has a population of 1,260,029, the third-most populous metro in the state. Richmond is located at the fall line of the James R...

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

View Salary for Similar Jobs to Mortgage Processor in Richmond, VA

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JOB TITLE	LOCATION	MINIMUM SALARY	MAXIMUM SALARY
JOB TITLE Senior Mortgage Processor	LOCATION Richmond, VA	MINIMUM SALARY $57,043	MAXIMUM SALARY $77,356
JOB TITLE Mortgage Loan Processor	LOCATION Richmond, VA	MINIMUM SALARY $40,574	MAXIMUM SALARY $50,586
JOB TITLE Remote Mortgage Processor	LOCATION Richmond, VA	MINIMUM SALARY $41,322	MAXIMUM SALARY $51,460
JOB TITLE Junior Mortgage Processor	LOCATION Richmond, VA	MINIMUM SALARY $32,529	MAXIMUM SALARY $40,057
JOB TITLE Mortgage Processor 4	LOCATION Richmond, VA	MINIMUM SALARY $47,676	MAXIMUM SALARY $64,192
JOB TITLE Intermediate Mortgage Loan Processor	LOCATION Richmond, VA	MINIMUM SALARY $46,400	MAXIMUM SALARY $62,500

The Mortgage 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 Richmond, VA that might be a good fit for the type of job and salary you are looking for.

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