Average Experienced Loss Mitigation Specialist with Loan Processing Skills Salary

$46,452
Avg. SalaryShow Hourly Rate
$1,100
Bonus
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The average salary for an Experienced Loss Mitigation Specialist with Loan Processing skills is $46,452.
10%
$38k
10%
$46k
50%
$93k
90%
90%
MEDIAN $46,452
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United States (change)
Salary
$38k - $93k
Bonus
$0 - $1k
Total Pay
$34k - $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.

Career Paths

Explore the most common career paths for Loss Mitigation Specialist. Thickness and color of lines indicates popularity of movement from one job to the next. Visit our career path planner to research other job paths.
Loss Mitigation Specialist
Mortgage Loan Processor
Loan Underwriter, Mortgage
Collections Specialist
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)

Loss Mitigation Specialist Job Listings

Popular Skills for Loss Mitigation Specialist

Skills in Mortgage Loans, Negotiation 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 $45,913 based on 14 salaries. A mid-career Loss Mitigation Specialist with 5-9 years of experience earns an average total compensation of $47,609 based on 14 salaries.

Years of Experience

This data is based on 28 survey responses.
Early Career
50.0%
Mid Career
50.0%