Average Experienced Loss Mitigation Specialist with Oral / Verbal Communication Skills Salary

$60,000
Avg. SalaryShow Hourly Rate
$5,650
Bonus
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The average salary for an Experienced Loss Mitigation Specialist with Oral / Verbal Communication skills is $60,000.
25%
$39k
MEDIAN
$60k
75%
$78k
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United States (change)
Salary
$39k - $78k
Bonus
$0 - $6k
Total Pay
$36k - $65k

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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 early career Loss Mitigation Specialist with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $46,000 based on 15 salaries. A mid-career Loss Mitigation Specialist with 5-9 years of experience earns an average total compensation of $47,349 based on 9 salaries.

Years of Experience

This data is based on 24 survey responses.
Early Career
62.5%
Mid Career
37.5%