Mortgage Processor Salary in Waterloo, Iowa

How much does a Mortgage Processor make?

As of December 01, 2024, the average annual pay of Mortgage Processor in Waterloo, IA is $42,715. While Salary.com is seeing that Mortgage Processor salary in Waterloo, IA can go up to $53,383 or down to $35,119, but most earn between $38,739 and $48,299. 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

$38,739 to $48,299

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Mortgage Processor

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Job Openings for Mortgage Processor in Waterloo, IA

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Update Encompass with accurate reason(s) for the adverse action as soon as it is determined that applicants have withdrawn, cancelled, or have been denied, so compliance can send required notifications.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

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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 Waterloo, IA

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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 Waterloo, IA

Average Base Salary

Core compensation

38739

48299

42715

Average Total Cash Compensation

Includes base and annual incentives

40058

50729

44514

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 Waterloo, IA. The base salary for Mortgage Processor ranges from $38,739 to $48,299 with the average base salary of $42,715. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $40,058 to $50,729 with the average total cash compensation of $44,514.

View Average Salary for Mortgage Processor as table

	Average Salary	Average Salary Range
Base Salary	$42,715	$38,739 - $48,299
Bonus	$1,799	$1,319 - $2,430
Total Pay	$44,514	$40,058 - $50,729

* 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 Waterloo, IA

CITY, STATE	AVERAGE SALARY RANGE	COMPARE TO Waterloo, IA
CITY, STATE Cedar Falls, IA	AVERAGE SALARY RANGE $37,595 - $46,873	COMPARE TO Waterloo, IA
CITY, STATE Cedar Rapids, IA	AVERAGE SALARY RANGE $39,898 - $49,744	COMPARE TO Waterloo, IA
CITY, STATE Iowa City, IA	AVERAGE SALARY RANGE $39,573 - $49,338	COMPARE TO Waterloo, IA
CITY, STATE Ames, IA	AVERAGE SALARY RANGE $39,895 - $49,740	COMPARE TO Waterloo, IA
CITY, STATE Dubuque, IA	AVERAGE SALARY RANGE $39,362 - $49,075	COMPARE TO Waterloo, IA
CITY, STATE Ankeny, IA	AVERAGE SALARY RANGE $40,270 - $50,208	COMPARE TO Waterloo, IA

See salaries for Mortgage Processor in locations close to Waterloo, IA. 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 Waterloo, Iowa

Waterloo is a city in and the county seat of Black Hawk County, Iowa, United States. As of the 2010 United States Census the population decreased by 0.5% to 68,406; the 2016 Census estimates the population at 67,934, making it the sixth-largest city in the state. The city is part of the Waterloo – Cedar Falls Metropolitan Statistical Area, and is the more populous of the two cities. According to the United States Census Bureau, the city has a total area of 63.23 square miles (163.76 km2), of which 61.39 square miles (159.00 km2) is land and 1.84 square miles (4.77 km2) is water. The average el...

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

View Salary for Similar Jobs to Mortgage Processor in Waterloo, IA

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JOB TITLE	LOCATION	MINIMUM SALARY	MAXIMUM SALARY
JOB TITLE Senior Mortgage Processor	LOCATION Waterloo, IA	MINIMUM SALARY $54,464	MAXIMUM SALARY $73,858
JOB TITLE Mortgage Loan Processor	LOCATION Waterloo, IA	MINIMUM SALARY $38,739	MAXIMUM SALARY $48,299
JOB TITLE Remote Mortgage Processor	LOCATION Waterloo, IA	MINIMUM SALARY $41,322	MAXIMUM SALARY $51,460
JOB TITLE Junior Mortgage Processor	LOCATION Waterloo, IA	MINIMUM SALARY $31,058	MAXIMUM SALARY $38,245
JOB TITLE Mortgage Processor 4	LOCATION Waterloo, IA	MINIMUM SALARY $47,676	MAXIMUM SALARY $64,192
JOB TITLE Intermediate Mortgage Loan Processor	LOCATION Waterloo, IA	MINIMUM SALARY $44,300	MAXIMUM SALARY $59,700

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 Waterloo, IA that might be a good fit for the type of job and salary you are looking for.

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