Average Experienced Loss Mitigation Specialist Salary

$50,871
Avg. SalaryShow Hourly Rate
$4,943
Bonus
$1,000
Profit Sharing
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The average salary for an Experienced Loss Mitigation Specialist is $50,871.
10%
$38k
MEDIAN
$51k
90%
$79k
Is Loss Mitigation Specialist your job title? Find out what you should be paid

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United States (change)
Salary
$38k - $79k
Bonus
$0 - $28k
Profit Sharing
$400 - $3k
Total Pay
$35k - $80k

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.

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, Customer Service, Negotiation, Loan Processing and Mortgage Loans.

Pay by Experience Level for Loss Mitigation Specialist

An entry-level Loss Mitigation Specialist with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $42,000 based on 15 salaries. An early career Loss Mitigation Specialist with 1-4 years of experience earns an average total compensation of $43,655 based on 155 salaries. A mid-career Loss Mitigation Specialist with 5-9 years of experience earns an average total compensation of $47,731 based on 108 salaries. In their late career (20 years and higher), employees earn an average total compensation of $58,133.

Pay Difference by Location

Learn more about cost of living by city.

Years of Experience

This data is based on 299 survey responses.
Entry Level
5.0%
Early Career
51.8%
Mid Career
36.1%
Late Career
7.0%