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Loss Mitigation Specialist Salary (United States)

A Loss Mitigation Specialist earns an average salary of $40,993 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 Salary (?
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.
)
$31,636 - $63,731
(Median)
32K
41K
51K
64K
MEDIAN: $40,993
10%
50%
75%
90%
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Loss Mitigation Specialist Salary (?
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.
)
$12.30 - $21.68
(Median)
12
15
17
19
22
MEDIAN: $16.00
10%
25%
50%
75%
90%
Add this chart to your site: 640px    300px

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
$31,636 - $63,731  
   
Bonus
$0.00 - $12,605  
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).
)
$29,856 - $62,205  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 132
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
$12.30 - $21.68  
   
Overtime
$15.36 - $47.07  
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 - $12,605  
   
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).
)
$29,856 - $62,205  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 119
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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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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%
National Average
$41,000
Dallas
up arrow 3%
Jacksonville
up arrow 4%
Larger circles over a city indicate a job is popular in that location.

Related Job Salaries

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Experience Affects Loss Mitigation Specialist Salaries

Late-Career
up arrow 25%
Experienced
up arrow 20%
Mid-Career
up arrow 7%
National Average
$41,000
Entry-Level
up arrow 4%

Skills That Affect Loss Mitigation Specialist Salaries

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 51 votes.

Gender

Female
56%
female alumni
 
Male
44%
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: 75%
vision benefits Vision: 66% employee benefits None: 13%