What Is a Settlement Processor?
Settlement processors work in a wide variety of fields. While primarily holding a legal position, settlement processors work at banks, mortgage brokers and even debt refinancing agencies. The educational requirements are easy to meet, and the job offers opportunities for advancement.
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Settlement Processor Description
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Settlement processors work in legal offices in a support role, much like paralegals. They can work in many types of companies and legal fields, including law firms, life insurance companies and real estate companies.
Job Duties of a Settlement Processor
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Job duties will vary by company, but the majority of work involves processing cases during settlement and preparing loan or mortgage settlement documents. Settlement processors coordinate with buyers, sellers, agents and lenders. Gathering the needed documents and reviewing them to ensure their completeness make up an important part of the job.
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Educational Requirements
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The requirements to become a settlement processor will vary by field, although the job generally requires a high school diploma. The majority of companies will requiring training as a paralegal as well. A paralegal associate's degree or certificate program usually requires a two-year commitment. As they gain experience, settlement processors can move into higher-paying jobs with larger firms.
Other Fields For Settlement Processors
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Settlement processors routinely handle loan and mortgage settlements. In addition, they often play a role in life insurance settlements, real estate transactions and debt consolidation cases.
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