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Loan Modification Jobs (NOW HIRING)

Selene Holdings

Modification Fulfillment Specialist

The Modification Fulfillment Specialist is responsible for interpreting, validating, and executing ... Perform full financial reconciliation of loan terms, including capitalization of arrears, deferred ...

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Loan Modification information

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How much do loan modification jobs pay per hour?

As of Jun 9, 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.
Senior Loan Servicing Associate - Loan Modification

Senior Loan Servicing Associate - Loan Modification

Northeast Bank

Lewiston, ME • On-site

Full-time

PTO

Posted 6 days ago

Job description

Northeast Bank is a full-service community bank and a national commercial real estate lender with offices in Maine, Massachusetts, New York, and Connecticut and California. We are looking for motivated and talented individuals who want to make an impact in a growing company that cares about its employees, customers, and the communities it serves. Northeast Bank provides competitive compensation and benefits, generous PTO, and a hybrid work environment dependent on the role. If you are looking for a growing organization that prioritizes its employees, we encourage you to apply.

POSITION SUMMARY: The Senior Loan Servicing Associate – Loan Modifications is responsible for processing and maintaining complex commercial loan servicing transactions in accordance with bank policy, regulatory requirements, and servicing procedures. This role supports operational servicing functions including loan modifications, file maintenance, tickler management, and research/resolution of servicing discrepancies. The position requires strong attention to detail, timely processing, effective communication, and the ability to manage multiple servicing responsibilities within established deadlines and controls.

RESPONSIBILITIES:

  • Process requests for loan modifications, renewals, extensions, payment changes, and related servicing requests submitted to Loan Servicing, ensuring alignment with legal paperwork, and making necessary adjustments in loan servicing software systems.
  • Perform file maintenance and system updates ensuring accuracy and compliance with approved documentation.
  • Review servicing documentation for completeness and compliance prior to processing.
  • Monitor and manage loan servicing ticklers, exceptions, and follow-up items within required timeframes.
  • Process protective advances, holdbacks, and related servicing transactions as assigned.
  • Research and resolve complex servicing discrepancies, payment issues, and account inquiries.
  • Assist with audit, compliance, and operational review requests related to assigned servicing functions.
  • Coordinate with internal departments to resolve servicing issues and ensure timely transaction completion.
  • Generate amortization schedules for borrowers upon request.
  • Serve as backup for ACH payment setup and ACH review activities, including monitoring assigned queues, processing transactions within required timeframes, and communicating/escalating outstanding items as necessary to ensure operational continuity.
  • Provide backup support for other assigned operational servicing functions as needed.
  • Maintain knowledge of servicing procedures, regulatory requirements, and system processes applicable to assigned responsibilities.
  • Perform other duties as assigned within the scope of the loan servicing function.
  • Works and resolves Synapsis/Loan Servicing email box events timely.
  • Successfully pass technical and regulatory examinations required by the Company.

KNOWLEDGE, SKILLS AND ABILITIES:

  • Ability to maintain confidentiality.
  • Excellent organizational skills and the ability to effectively communicate with all levels of employees.
  • Ability to calculate figures and amounts such as interest, percentages, ratios, and proportions.
  • Ability to manage multiple priorities in a deadline driven environment.
  • Strong knowledge of commercial loan servicing operations and documentation.
  • Strong attention to detail and accuracy.
  • Ability to research and resolve complex servicing issues.
  • Effective written and verbal communication skills.
  • Proficiency with loan servicing systems and Microsoft office applications.
  • High School diploma.
  • 7 years of loan servicing experience preferred.

PHYSICAL DEMANDS AND CONDITIONS:

  • Must be able to remain in a stationary position for long periods of time.
  • Some travel is required.
  • Must be able to occasionally lift up to 25lbs.
  • Consistently operates a computer and other office machinery such as calculator, copy machine and printers.
  • Climate controlled general office settings with moderate noise level.
  • Must express or exchange ideas and meaning with co-workers, supervisors, customers and vendors.

Northeast Bank is an equal employment opportunity and affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity and expression, national original, veteran status and any other classification protected by Law. We celebrate diversity and are committed to creating an inclusive environment for all employees.