Average Experienced Loss Mitigation Specialist Salary

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The average salary for an Experienced Loss Mitigation Specialist is $50,871.
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United States (change)
$38k - $79k
$0 - $28k
Profit Sharing
$400 - $3k
Total Pay
$35k - $80k

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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 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

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Years of Experience

This data is based on 299 survey responses.
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