Average Loss Mitigation Specialist with Mortgage Loans Skills Salary

$45,698
Avg. SalaryShow Hourly Rate
$2,980
Bonus
$9,000
Commission
$2,000
Profit Sharing
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The average salary for a Loss Mitigation Specialist with Mortgage Loans skills is $45,698.
10%
$35k
MEDIAN
$46k
90%
$71k
Is Loss Mitigation Specialist your job title? Find out what you should be paid

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United States (change)
Salary
$35k - $71k
Bonus
$101 - $16k
Profit Sharing
$0 - $2k
Commission
$0 - $9k
Total Pay
$34k - $67k

Your Market Worth Over Time

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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.

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Popular Skills for Loss Mitigation Specialist

Skills in Loan Processing, Oral / Verbal Communication and Bill Collections are correlated to pay that is above average. Skills that pay less than market rate include Negotiation and Customer Service.

Pay by Experience Level for Loss Mitigation Specialist

An early career Loss Mitigation Specialist with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $43,963 based on 26 salaries. A mid-career Loss Mitigation Specialist with 5-9 years of experience earns an average total compensation of $46,224 based on 32 salaries. An experienced Loss Mitigation Specialist with 10-19 years of experience earns an average total compensation of $49,057 based on 24 salaries. In their late career (20 years and higher), employees earn an average total compensation of $47,500.

Pay Difference by Location

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Years of Experience

This data is based on 90 survey responses.
Early Career
28.9%
Mid Career
35.6%
Experienced
26.7%
Late Career
8.9%