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Loan Modification Processor Jobs (NOW HIRING)

PennyMac

Modification Processor

Carrollton, TX

$39K - $55K/yr

S. mortgage loans and the management of investments related to the U.S. mortgage market. At ... Processor will assist with entry level processing, completion and post modification tasks ...

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 ... Processor will assist with entry level processing, completion and post modification tasks ...

PennyMac

Modification Processor

Carrollton, TX

$39K - $55K/yr

S. mortgage loans and the management of investments related to the U.S. mortgage market. At ... Processor will assist with entry level processing, completion and post modification tasks ...

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 ... Processor will assist with entry level processing, completion and post modification tasks ...

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 ... Processor will assist with entry level processing, completion and post modification tasks ...

PennyMac

Modification Processor

Moorpark, CA

$39K - $55K/yr

S. mortgage loans and the management of investments related to the U.S. mortgage market. At ... Processor will assist with entry level processing, completion and post modification tasks ...

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 ... Processor will assist with entry level processing, completion and post modification tasks ...

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How much do loan modification processor jobs pay per hour?

As of Jun 8, 2026, the average hourly pay for loan modification processor 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 in the Loan Modification Processor position, and why are they important?

A Loan Modification Processor should possess strong analytical abilities, attention to detail, and a solid understanding of mortgage lending practices, often supported by experience in loan processing or a finance-related degree. Familiarity with loan origination systems, document management software, and compliance regulations such as RESPA and HAMP is highly valued. Outstanding communication, problem-solving skills, and the ability to manage high-stress situations help set top performers apart. These competencies ensure efficient processing, regulatory compliance, and positive client interactions in a fast-paced lending environment.

What is a Loan Modification Processor job?

A Loan Modification Processor is responsible for reviewing, processing, and assisting borrowers in modifying the terms of their existing loans. They work with lenders and borrowers to collect necessary documentation, verify financial information, and ensure compliance with regulations. Their goal is to help borrowers secure modified loan terms that are more manageable, often to prevent foreclosure. Strong attention to detail, knowledge of loan servicing guidelines, and excellent communication skills are essential in this role.

What are the typical daily responsibilities of a Loan Modification Processor?

Loan Modification Processors are responsible for reviewing borrower documentation, verifying financial information, and determining eligibility for loan modification programs. They often communicate directly with clients, mortgage underwriters, and other team members to collect missing information and clarify requirements. Daily tasks also include ensuring all paperwork complies with regulatory standards, updating records in loan management systems, and tracking multiple cases simultaneously. This role requires excellent organizational skills and a focus on maintaining accuracy while working with tight deadlines. Working closely with other departments, processors play a crucial role in helping clients achieve sustainable mortgage solutions.

More about Loan Modification Processor jobs
What states have the most Loan Modification Processor jobs? States with the most job openings for Loan Modification Processor jobs include:
What job categories do people searching Loan Modification Processor jobs look for? The top searched job categories for Loan Modification Processor jobs are:
Loan Modification Processor jobs near you
Infographic showing various Loan Modification Processor job openings in the United States as of May 2026, with employment types broken down into 1% Locum Tenens, 4% As Needed, 34% Full Time, 41% Part Time, and 20% 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 5 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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