Loss Mitigation Specialist Salary (United States)

A Loss Mitigation Specialist earns an average salary of $41,136 per year. Most people with this job move on to other positions after 20 years in this career. A skill in Loan Processing is associated with high pay for this job.
Loss Mitigation Specialist Total Pay (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$31,220 - $63,982
(Median)
31K
41K
52K
64K
MEDIAN: $41,136
10%
50%
75%
90%
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Loss Mitigation Specialist Total Pay (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$12.28 - $21.48
(Median)
12
15
17
19
21
MEDIAN: $16.00
10%
25%
50%
75%
90%
Add this chart to your site

National Salary Data

 (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$22K$44K$66K
Salary
$31,220 - $63,982  
   
Bonus
$0.00 - $13,000  
Profit Sharing
$1,100 - $2,750  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$29,592 - $62,163  
PayScale
Country: United States | Currency: USD | Updated: 11 Jun 2014 | Individuals Reporting: 242
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$16$32$48
Hourly Rate
$12.28 - $21.48  
   
Overtime
$15.38 - $47.17  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$32K$64K$96K
Bonus
$0.00 - $13,000  
   
Profit Sharing
$1,100 - $2,750  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$29,592 - $62,163  
PayScale
Country: United States | Currency: USD | Updated: 11 Jun 2014 | Individuals Reporting: 242
Is Loss Mitigation Specialist your job title? Get a personalized salary report!
Location:
United States (change)
Years in Field/Career:
Job Description for Loss Mitigation Specialist
  • Perform financial analysis and assess borrowers' financial situation to establish if a borrower can reinstate the mortgage fully or in part.
  • Coordinate with borrowers within investor and vendor guidelines to resolve any delinquencies and evade foreclosure.
  • Evaluate foreclosed loans and determine if they were processed according to internal and external requirements.
  • Assess servicing files to determine if required loss mitigation activities were completed and documented according to internal and external requirements.
  • Manage and maintain loss mitigation documentation files.

Loss Mitigation Specialist Job Listings

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Popular Employer Salaries for Loss Mitigation Specialist
Pay by Experience Level for Loss Mitigation Specialist
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Pay Difference By Location
San Diego
up arrow 20%
Irving
up arrow 4%
National Average
$41,000
Dallas
up arrow 1%
Jacksonville
up arrow 4%
Houston
up arrow 6%
Larger circles over a city indicate a job is popular in that location.
Related Job Salaries

Experience Affects Loss Mitigation Specialist Salaries

Late-Career
up arrow 25%
Experienced
up arrow 21%
Mid-Career
up arrow 4%
National Average
$41,000
Entry-Level
up arrow 4%

Skills That Affect Loss Mitigation Specialist Salaries

Loan Processing
up arrow 12%
National Average
$41,000
Mortgage Loans
up arrow 1%
Customer Service
up arrow 3%
Collections
up arrow 6%
Job Satisfaction
Extremely satisfied Image
Extremely satisfied
Rated 5 out of 5 based on 49 votes.
Gender
Female
55%
female alumni
 
Male
45%
male alumni
Years of Experience
Less than 1 year
5%
1-4 years
47%
5-9 years
29%
10-19 years
14%
20 years or more
5%
Common Health Benefits
medical benefits Medical: 84% dental benefits Dental: 77%
vision benefits Vision: 68% employee benefits None: 13%
Find Out Exactly What You Should Be Paid
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Years in Field/Career:
Location:
United States (change)
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