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Loan Modification Jobs (NOW HIRING)

Pennymac

Modification Processor

Carrollton, TX · On-site

$39K - $55K/yr

S. mortgage loans and the management of investments related to the U.S. mortgage market. At ... Ship various modification documents via FedEx or regular mail * Receive, log, and verifying ...

PennyMac

Modification Processor

Carrollton, TX

$39K - $55K/yr

S. mortgage loans and the management of investments related to the U.S. mortgage market. At ... Ship various modification documents via FedEx or regular mail * Receive, log, and verifying ...

PennyMac

Modification Processor

Carrollton, TX · On-site

$39K - $55K/yr

S. mortgage loans and the management of investments related to the U.S. mortgage market. At ... Ship various modification documents via FedEx or regular mail * Receive, log, and verifying ...

PennyMac

Modification Processor

Fort Worth, TX

$39K - $55K/yr

S. mortgage loans and the management of investments related to the U.S. mortgage market. At ... Ship various modification documents via FedEx or regular mail * Receive, log, and verifying ...

Pennymac

Modification Processor

Moorpark, CA · On-site

$39K - $55K/yr

S. mortgage loans and the management of investments related to the U.S. mortgage market. At ... Ship various modification documents via FedEx or regular mail * Receive, log, and verifying ...

PennyMac

Modification Processor

Moorpark, CA

$39K - $55K/yr

S. mortgage loans and the management of investments related to the U.S. mortgage market. At ... Ship various modification documents via FedEx or regular mail * Receive, log, and verifying ...

Pennymac

Modification Processor

Fort Worth, TX · On-site

$39K - $55K/yr

S. mortgage loans and the management of investments related to the U.S. mortgage market. At ... Ship various modification documents via FedEx or regular mail * Receive, log, and verifying ...

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Loan Modification information

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How much do loan modification jobs pay per hour?

As of Jun 8, 2026, the average hourly pay for loan modification in the United States is $21.30, according to ZipRecruiter salary data. Most workers in this role earn between $18.03 and $24.04 per hour, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive as a Loan Modification Specialist, and why are they important?

To thrive as a Loan Modification Specialist, you need a thorough understanding of mortgage products, lending regulations, and financial analysis, typically supported by experience in banking or real estate finance. Familiarity with loan servicing software, mortgage processing systems, and compliance tools is essential. Strong communication, negotiation skills, and attention to detail help build rapport with borrowers and ensure accurate documentation. These skills are crucial for effectively guiding clients through the loan modification process and achieving mutually beneficial solutions.

What jobs make $3,000 a month without a degree?

Loan modification specialists typically earn less than $3,000 per month without specialized training or experience. However, roles such as sales representatives, administrative assistants, or certain customer service jobs can pay around $3,000 monthly without requiring a degree, especially with experience or commission-based pay. Skills in communication, sales, or office software can improve earning potential in these positions.

What is a loan modification?

A loan modification is a change made to the terms of an existing loan by a lender, usually to help a borrower who is struggling to make payments. This process can involve reducing the interest rate, extending the length of the loan, or changing the type of loan. The goal is to make the monthly payments more affordable for the borrower while allowing the lender to avoid foreclosure. Loan modifications are common in cases of financial hardship and are often used for mortgages.

What are some common challenges faced by Loan Modification Specialists, and how can they be addressed?

Loan Modification Specialists often navigate complex borrower situations, tight regulatory requirements, and strict deadlines. A major challenge is balancing the needs of distressed borrowers with lender policies while ensuring compliance with relevant laws. Developing strong communication skills, staying updated on industry regulations, and leveraging internal resources or team expertise can help overcome these challenges. Building rapport with borrowers and collaborating closely with underwriters and legal teams also streamlines the process and leads to better outcomes.

What is the difference between Loan Modification vs Loan Processor?

AspectLoan ModificationLoan Processor
Primary RoleNegotiate and modify existing loan terms to assist borrowersEvaluate, process, and verify loan applications for approval
Required CredentialsKnowledge of loan programs, financial analysis, sometimes licensingKnowledge of lending policies, credit analysis, often licensing
Work EnvironmentOffice-based, financial institutions, borrower interactionOffice-based, financial institutions, document review
Industry UsageFinancial services, mortgage companiesMortgage lenders, banks

While both roles operate within the mortgage and lending industry, a Loan Modification specialist focuses on renegotiating existing loans to help borrowers avoid foreclosure, whereas a Loan Processor handles the initial application review and approval process. Understanding these differences helps borrowers and employers identify the right professional for their needs.

More about Loan Modification jobs
What cities are hiring for Loan Modification jobs? Cities with the most Loan Modification job openings:
What states have the most Loan Modification jobs? States with the most job openings for Loan Modification jobs include:
What job categories do people searching Loan Modification jobs look for? The top searched job categories for Loan Modification jobs are:
Loan Modification jobs near you
Infographic showing various Loan Modification job openings in the United States as of May 2026, with employment types broken down into 1% As Needed, 91% Full Time, 2% Part Time, and 6% Contract. Highlights an 95% Physical, 2% Hybrid, and 3% Remote job distribution, with an average salary of $44,308 per year, or $21.3 per hour.

Loan Modification Specialist

Everwise Credit Union

South Bend, IN • On-site

Full-time

Posted 6 days ago

Job description

Job Description:
Position Summary:
The Loan Modification Specialist is responsible for administering Credit Union's retail hardship modification programs for consumer and mortgage loans as part of the Collections + Recovery Department. This role evaluates member hardship requests, reviews financial documentation, determines program eligibility, prepares recommendations, coordinates approvals, and executes approved modifications in accordance with internal standards, regulatory requirements, and servicing guidelines. The Loan Modification Specialist serves as a compassionate, knowledgeable resource for members experiencing financial hardship while balancing member support, portfolio performance, risk management, and operational accuracy. This position also partners closely with Collections, Recovery Services, Loss Mitigation, Loan Servicing, and other internal stakeholders to ensure timely implementation, documentation integrity, and ongoing monitoring of modified accounts.
Primary Responsibilities and Duties:
  • Review retail hardship modification requests for completeness and accuracy, including hardship applications, income documentation, expenses, bank statements, and other supporting materials required for evaluation.
  • Analyze member financial circumstances, loan performance history, delinquency status, debt-to-income considerations, and repayment capacity to determine eligibility for available hardship modification programs.
  • Apply internal departmental standards and modification criteria consistently while documenting rationale, exceptions, recommendations, and supporting analysis in a clear and auditable manner.
  • Identify appropriate modification solutions based on member need, loan type, hardship severity, repayment capacity, and program guidelines, including forbearance, skip-a-pay exceptions, interest-only arrangements, loan restructures, and recovery modification options.
  • Prepare modification recommendations and supporting documentation for review and approval in accordance with established authority levels and internal procedures.
  • Draft, prepare, and review modification agreements and related documents to ensure revised terms, disclosures, payment requirements, and system instructions are complete, accurate, and compliant.
  • Communicate with members throughout the hardship review and modification process, explaining requirements, requesting documentation, providing status updates, and ensuring members understand the terms and responsibilities of approved solutions.
  • Coordinate execution of approved modifications by obtaining required signatures, completing quality control checks, updating loan servicing or core system records, and confirming successful implementation of new loan terms.
  • Maintain accurate records of member interactions, decisions, approvals, exceptions, and post-modification activities in accordance with internal documentation standards, audit expectations, and record retention requirements.
  • Monitor modified accounts during the post-execution period, identify signs of renewed distress or nonperformance, and escalate or respond appropriately to support long-term success and portfolio performance.
  • Partner with collections, recovery, loan servicing, mortgage, compliance, and other internal teams to resolve complex cases, support operational efficiency, and ensure a consistent member experience.
  • Provide professional, empathetic, and solutions-oriented service to members experiencing hardship while protecting the credit union's financial interests and maintaining confidentiality.
  • Identify process improvement opportunities that enhance consistency, quality, turnaround times, controls, and member support within hardship modification workflows.
  • Remain current on applicable regulatory requirements, investor or servicing expectations, and internal policies related to hardship programs, collections activities, and loan modifications.
  • Assumes additional responsibilities as necessary for the continued growth and advancement of the Credit Union.

Knowledge/Skills:
  • Knowledge of consumer and mortgage hardship modification processes, collections operations, loan servicing practices, and financial institution risk considerations.
  • Ability to analyze financial information, review supporting documentation, assess repayment capacity, and apply program criteria consistently and accurately.
  • Strong understanding of documentation requirements, approval workflows, audit readiness, and the importance of complete and defensible file maintenance.
  • Effective verbal and written communication skills with the ability to explain sensitive or complex matters clearly and professionally to members and internal stakeholders.
  • Strong organizational skills, time management, and attention to detail with the ability to manage multiple files, deadlines, and priorities in a fast-paced environment.
  • Demonstrated empathy, professionalism, sound judgment, and discretion when handling confidential member information and emotionally sensitive situations.
  • Ability to collaborate across departments and build effective working relationships to support timely decisions, accurate execution, and strong member outcomes.
  • Proficiency with loan servicing systems, core platforms, and standard business software used for documentation, reporting, and workflow management.
  • Ability to identify process issues, recommend practical improvements, and contribute to a culture of continuous improvement and accountability.
  • Demonstrated ability to manage detailed administrative processes, maintain accurate documentation, and work effectively with sensitive and time-sensitive information.
  • Proficiency with computer systems and Microsoft Office suite (e.g., Word, Excel, Outlook).

Minimum Requirements:
  • Bachelor's degree in business, finance, accounting, or a related field preferred.
  • 2+ years' experience in collections, loan servicing, consumer lending, mortgage servicing, loss mitigation, or a related financial institution role required.
  • Experience reviewing financial documentation, supporting hardship requests, loan modifications, or other payment relief solutions.
  • Working knowledge of credit union or banking operations, regulatory expectations, and internal control requirements in a consumer-facing lending environment preferred.

Everwise is an equal opportunity employer. We are committed to creating an inclusive environment for all employees.

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