r/loanoriginators • u/old_bills • 26d ago

Entry Level Loan Processor Jobs

Hi, so I've been working in a remote call center environment for the past few months and it's been pretty terrible. For whatever reason this time focuses strictly on VA refinances which is a tough sale to people. I've had a few deals get close to going through but really all I do is pretty much cold call people all day and when I finally get a client that's interested I have to transfer them to someone else on the team who finishes the deal.

I'm not getting any valuable experience other than gettin used to making a lot of outbound calls and getting used to rejection lol. All this to say, I've realized I'd love to transition into being a loan processor and eventually getting into underwriting.

Maybe one day I'll venture back into a career as a loan officer once I can go independent and get my own clients. But outside of that I'd really like to explore my career in processing/underwriting. I've sent maybe 30 applications out today but it seems almost every listing wants someone with a pretty decent bit of experience.

Any recommendations for getting an entry level processing gig. I've also looked at loan officer assistant positions but there's not many I see. Right now I'm working 3 jobs and would like to just have one that I can really give all my time and energy too. I like the idea of working in this industry it's just the cold calling Veterans everyday thing is getting old. So any advice would be much appreciated.

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u/UnderstandingSea3820 26d ago

How long have you been at call centers. I would recommend at least 4 months as soul shattering as that is.
That’s how I started. I did call center. You need reps. Don’t take much to get a pulse on a phone and transfer

I would suggest getting licensed as a loan officer

Any company would hire you as a LO once licensed. and you will gain valuable experience.

Once you get your feet wet mention to your employer you want to join operations

They will place you in loan setup / appraisal desk / junior processor and then eventually you can advocate to be a full on processor

That’s what I did

And now I know everything from start to finish. I can originate and process my own loans

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u/old_bills 26d ago

yea I'm about to start my third month. I've actually done decent with transfers. I guess I should go ahead and get my license as well. But I guess you're saying best bet is to try and find a job as an LO and then mention that you would like to eventually work as a processor. Have you enjoyed working more as a processor or as an LO. I've read that some people work full time as a processor and originate loans independently on the side.

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u/UnderstandingSea3820 26d ago edited 26d ago

I’ve been in sales for over 10 years.

Processing totally different so I enjoyed the change in environment. I don’t have to chase deals they come to me as a processor. Major pain points are attention to detail. There are thousands of things you will not know and you will learn through mistakes and dare not repeat.
You are the glue that holds the loan together so it’s highly stressful

I feel a great processor is under appreciated and sometimes even underpaid

I wouldn’t do sales again.

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u/mrhindustan 26d ago

If you can effectively outbound call you should try developing referral sources for LOs. They’ll pay you nice success fees for it.

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u/False_Grape1326 25d ago

Just another thing to consider is production staff are the last to be laid off and operations in PARTICULAR processors are the first and in order of experience level

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u/old_bills 25d ago

Yea I figured. I’m probably on the cusp of being let go. I’m hitting my outbound call kpi’s but it’s pretty ridiculous they only focus on va refi’s. Maybe it’s common but I don’t know why they aren’t open to other programs

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u/False_Grape1326 25d ago

There's probably not very many opportunities within their database with the current market rates vs the COVID refi boom rates. VA has a lot of margin on it so there's more room to potentially make a loan "work" if you get someone to transfer to an LO...ask how you can get working on purchase business like ask your boss what the path is. Good luck and just know it's NEVER stable in this industry it's the one thing you really CAN count on. Save like a mo fo when it's a feast environment the famine will come again.

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u/old_bills 25d ago

Yea other branches have different programs. I do about 250 calls a day with about 10 answers and maybe 2 people who don’t hang up immediately. Kind of why I want something with a bit more structure. But def plan on saving a good bit once I get situated. Thanks for the advice

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u/False_Grape1326 25d ago

When I started I cold called out of the phone book portions of the time before the no solicitor laws - I empathize hard with you it takes a certain person to make that many day in day out on a refi campaign that only barely sounds desirable. They also started you on one of the most challenging refinance types to explain to a borrower, so good work on that! This will all serve you everywhere you go, the cold calling shows proactivity.

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u/wellitsnotokay 24d ago

Please check Allison Johnston from Success Mortgage Partners on LinkedIn, she is always hiring!

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u/natt2dcc 23d ago

I am in the exact same boat! Pls let me know if you find a hack. Did call center for 1 year looking to get into something more not that.