Average Early-Career Loss Mitigation Specialist with Mortgage Loans Skills Hourly Pay

$18.02
Avg. Hourly RateShow Salary
$3,000
Bonus
$8,000
Commission
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The average hourly pay for an Early-Career Loss Mitigation Specialist with Mortgage Loans skills is $18.02.
10%
$14.58
10%
$18.02
50%
$22.93
90%
90%
MEDIAN $18.02
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United States (change)
Hourly Rate
$15 - $23
Bonus
$0 - $12,080
Commission
$0 - $8,000
Total Pay
$31,856 - $61,505

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Job Description for Loss Mitigation Specialist

Loss Mitigation Specialist Tasks
  • 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.
  • Evaluate foreclosed loans and determine if they were processed according to internal and external requirements.
  • 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.

Career Paths

Explore the most common career paths for Loss Mitigation Specialist. Thickness and color of lines indicates popularity of movement from one job to the next. Visit our career path planner to research other job paths.
Loss Mitigation Specialist
Mortgage Loan Processor
Collections Specialist
Loan Underwriter, Mortgage
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)

Loss Mitigation Specialist Job Listings

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Popular Skills for Loss Mitigation Specialist

Skills that pay less than market rate include Bill Collections, Negotiation, Oral / Verbal Communication, Loan Processing and Customer Service.

Pay by Experience Level for Loss Mitigation Specialist

A mid-career Loss Mitigation Specialist with 5-9 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $18.75 based on 31 salaries. An experienced Loss Mitigation Specialist with 10-19 years of experience earns an average total compensation of $20.79 based on 24 salaries. In their late career (20 years and higher), employees earn an average total compensation of $27.

Years of Experience

This data is based on 63 survey responses.
Mid Career
49.2%
Experienced
38.1%
Late Career
12.7%