Average Experienced Loss Mitigation Specialist with Negotiation Skills Salary

$45,000
Avg. SalaryShow Hourly Rate
$26,650
Bonus
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The average salary for an Experienced Loss Mitigation Specialist with Negotiation skills is $45,000.
25%
$37k
MEDIAN
$45k
75%
$64k
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United States (change)
Salary
$37k - $64k
Bonus
$0 - $27k
Total Pay
$30k - $92k

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

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 10 salaries. A mid-career Loss Mitigation Specialist with 5-9 years of experience earns an average total compensation of $43,874 based on 12 salaries.

Years of Experience

This data is based on 22 survey responses.
Early Career
45.5%
Mid Career
54.5%