Loan Processor Certification and Certificate Program Overviews

Oct 20, 2019

Essential Information

Loan processor certificate programs provide a basic overview of the real estate and banking industries while also supplying practical knowledge of how to process a mortgage loan application. While most loan processors only determine the accuracy and quality of a loan application, loan processor certificate programs often cover the entire loan approval process, including loan underwriting, brokerage, and closing. The educational prerequisites necessary to gain enrollment into a loan processor certificate program vary by the school or organization hosting it, but the primary prerequisite is often a high school diploma or its equivalent.

Loan Processor Certificate Program

Students in a loan processor certificate program should have a strong attention to detail and an aptitude for mathematics. Examples of courses include:

  • Loan processing ethics
  • Real estate law
  • Real estate fraud
  • Escrow
  • Loan underwriting
  • Brokerage and banking

Popular Career Options

Individuals who earn this certificate are qualified to work in a variety of loan-granting organizations. Loan processors can find work in:

  • Banks
  • Brokerage firms
  • Real estate companies
  • Mortgage lending firms
  • Financial institutions

Employment Outlook and Salary Info

Mortgage loan processors are responsible for reviewing incoming residential loan applications, verifying their accuracy and passing them along to loan underwriters. While the U.S. Bureau of Labor Statistics doesn't provide information specific to loan processors, the closely related field of loan officers was projected to see an 8% increase in employment opportunities from 2018-2028. The mean annual wage for this field was $76,270 as of May 2018.

Certification and Continuing Education

Loan processors are not strictly required to gain certification, but the National Association of Mortgage Processors (NAMP) does offer certification options to professionals in the field. The organization offers three credentials: the Certified Purple Processor (CPP) for loan processors just starting out in the field, the Certified Master Loan Processor (CMLP) for loan processors with at least five years of professional experience or the Certified Ambassador Loan Processor (CALP) for professionals who have at least 15 years of work experience.

Certificate programs in loan processing provide training in all the tasks involved to successfully handle credit requests and applications. Obtaining a certificate allows students to gain employment in various institutions and eventually apply for the voluntary professional certification offered by the NAMP.

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