Mortgage Processor Education Requirements

The education of a mortgage processor must focus on developing the skills related with the key aspects of a mortgage processor’s job. A mortgage processor is a professional who is responsible for collecting all the mandatory information for processing mortgage loans, and are also responsible for ensuring the accuracy of the collected information.

Higher education in the field of accounting or finance can be beneficial, but is not a mandatory requirement for obtaining the job of a mortgage processor. The candidates possessing high school diplomas can qualify for the job. Generally employers prefer the candidates with certificate level courses in loan processing, mortgage processing etc.

The education for these candidates either through college or through some certificate level course must provide loan & mortgage processing skills to these candidates. The candidates must be made proficient in underwriting and credit principles, loan approval processes, fraud detection and mortgage processing terminology,

Mortgage Processor Education Requirements:

  • A candidate who wants to become a mortgage processor must have passed the high school diploma preferable with mathematics as one of the major subjects.
  • After high school, these candidates can pursue their graduation and under-graduation in business and finance related courses.
  • These candidates must be learned in accounting and mortgage loan based credit processing.

Mortgage Processor Degrees, Courses and Certifications:

The candidates aspiring to become a professional mortgage processor must take up following degrees and certifications academically:

  • High school diploma
  • Associates or Bachelor’s degree in finance, accounting, economics, business administration or any other closely related stream.
  • Short term certificate or diploma level courses in loan processing, mortgage processing or related topics.
  • NAMP-CPP (Certified Purple Processor), NAMP-CMLP (Certified Master Loan Processor) , NAMP-CFCE (Certified FHA Credit Examiner) certifications offered by National Association of Mortgage Processors.
  • These candidates may also be required to obtain necessary license to practice their job as mortgage processor, but the requirement of the license depends on the fact that in which area or state the candidate wants to pursue his job.

Mortgage Processor Qualification and Training:

Since the academic qualification is not a stringent requirement for the job, these candidates must undergo hands on training programs to learn the requisite skills for the job. Many institutions offer hands on practical training programs for developing the candidate for mortgage processor’s job.

Mortgage Processor Colleges and Universities:

Mortgage Processor Wages and Salaries:

The remuneration for a mortgage processor is $22,000 – $35,000 on yearly basis.

Category: Banking Education Requirements

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