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Loan Modification Jobs (NOW HIRING)

Jonathan S. Koren, P.C.

Be Seen First

Legal Assistant/Paralegal

Brooklyn, NY · On-site

$52K - $62K/yr

Legal Assistant - Loan Modification and Foreclosure Defense We are a law firm seeking a reliable, organized, and client-focused Legal Assistant to help clients pursue loan modifications and other ...

New

M&T Bank

Loss Mitigation Underwriter II

Getzville, NY · On-site

$22.61 - $37.67/hr

This position is responsible for submitting loan modification workups for the entire waterfall of investor workout options. This position will also be responsible for preparing loans for foreclosure ...

New

Berkadia

Loan Boarding Coordinator

Ambler, PA · On-site

... modification documents to identify system changes required by the modification; tracks modifications in the MTS system, and submits forms to adjust the loan consistent with the modified terms. Files ...

Fifth Third

Loan Servicing Specialist

San Diego, CA · On-site

The Loan Servicing Specialist works with homeowners, Escrow Agents, Relators and others to ensure ... Review open accounts for modification purposes * Make outbound efforts in a professional manner ...

M&T Bank

Loss Mitigation Underwriter II

Getzville, NY

$22.61 - $37.67/hr

This position is responsible for submitting loan modification workups for the entire waterfall of investor workout options. This position will also be responsible for preparing loans for foreclosure ...

New

Merck Sharp & Dohme FCU

Consumer Loan Processor

Chalfont, PA · On-site

$18.50 - $23/hr

Process Skip-A-Pay requests as part of the Skip-A-Pay program and Loan Modification as part of the payment Assistance Program. 18.Performs additional duties as assigned. Positions Specifications ...

Merck Sharp & Dohme FCU

Consumer Loan Processor

Chalfont, PA · On-site

$18.50 - $23/hr

Process Skip-A-Pay requests as part of the Skip-A-Pay program and Loan Modification as part of the payment Assistance Program. 18.Performs additional duties as assigned. Positions Specifications ...

M&T Bank

Loss Mitigation Underwriter I

Getzville, NY · On-site

$20.55 - $34.25/hr

This position is responsible for submitting loan modification workups for the entire waterfall of investor workout options. Primary Responsibilities: * Understand investor's waterfall and required ...

New

Peoples Bank

Credit Administrator

Columbus, OH · On-site

Independently manage the loan modification review process, apply sound judgement to interpret credit approvals, assess policy and regulatory alignment and present findings to senior leadership and ...

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All JobsLoan Modification Jobs

Loan Modification information

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$13

$21

$30

How much do loan modification jobs pay per hour?

As of Jul 21, 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.

How much does a loan officer make on a $500,000 loan?

A loan officer typically earns a commission or fee based on the loan amount, often around 0.5% to 1% of the loan value. For a $500,000 loan, this could translate to $2,500 to $5,000 in commissions or fees, depending on the lender and compensation structure.

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 is a loan modification and how does it work?

A loan modification is a process where a lender changes the terms of an existing loan to make payments more affordable, often by reducing interest rates, extending the repayment period, or changing the loan type. Loan modification specialists evaluate borrower financial situations and negotiate with lenders to implement these changes, helping borrowers avoid foreclosure and manage debt more effectively.

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.

Do MLOs make good money?

Loan Modification Officers (MLOs) can earn a wide range of income depending on experience, location, and commission structure. Typically, they earn a base salary plus commissions on successful loan modifications, with total earnings varying from moderate to high based on performance. Successful MLOs with strong sales skills and industry knowledge can achieve higher income levels.

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.

Will MLO be replaced by AI?

Loan Modification Officers (MLOs) perform complex tasks that require judgment, communication, and understanding of individual financial situations, which are difficult for AI to fully replicate. While AI tools can assist with data analysis and automate routine processes, the role of an MLO involves interpersonal skills and regulatory knowledge that remain essential in the industry.
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 July 2026, with employment types broken down into 1% As Needed, 87% Full Time, 8% Part Time, and 4% Contract. Highlights an 97% Physical, 1% Hybrid, and 2% Remote job distribution, with an average salary of $44,308 per year, or $21.3 per hour.
Mortgage Servicing Specialist - Loss Mitigation Coordinator

Mortgage Servicing Specialist - Loss Mitigation Coordinator

Member First Mortgage LLC

Grand Rapids, MI

Full-time

Medical, Vision, Life, Retirement, PTO

Re-posted 23 days ago

Job description

Mortgage Servicing Specialist –Loss Mitigation CoordinatorJob Details

Job Location: Grand Rapids, MI
Remote Type: Onsite
Position Type: Full Time

Description

Member First Mortgage is seeking a detail-oriented, organized, and dependable Loss Mitigation Coordinator/Home Preservation Assistant to support the Home Preservation team with administrative and operational functions related to loan modifications and default servicing.

This role plays a critical part in ensuring loan modification documentation is accurate, complete, and compliant. The associate will assist with document preparation, mailing, scanning, and tracking, while also supporting internal workflows and communication across teams. The ideal candidate thrives in a fast-paced environment, demonstrates strong attention to detail, and excels at managing multiple priorities.

Founded on the credit union philosophy of “People Helping People,” Member First Mortgage provides full-service mortgage solutions to over 200 credit unions nationwide. Our commitment to honesty, integrity, and exceptional service creates a supportive, collaborative, and rewarding workplace.

Benefits We Offer:

  • Generous and competitive healthcare packages
  • Employer paid short-term and long-term disability
  • Employer paid Life Insurance
  • 100% Employer paid Vision
  • 401K Plan with match
  • 20 days PTO - no waiting periods!
  • Fun, laid back, and collaborative team environment.
Responsibilities:Loan Modification Processing & Documentation

  • Review executed loan modification packets for completeness and accuracy

  • Obtain required internal and notary signatures on modification documents

  • Ensure all corrections are completed and documents are properly finalized

  • Scan and upload loan files into internal imaging systems

Post-Modification & File Management

  • Process loan files upon return from borrowers

  • Assist in gathering required documentation to bring delinquent files current

  • Make outbound calls as needed to obtain missing information or documentation

Document Preparation & Mailing

  • Prepare and assemble loan modification packets for processing

  • Generate and send required written communications to members

  • Coordinate UPS mailings and manage outgoing documentation

  • Handly daily incoming and outgoing mail

Compliance & Tracking

  • Record modification costs, fees, and reimbursement claims to GSEs

  • Ensure files remain audit-ready and compliant with internal and regulatory standards

  • Assist with recording modifications with local counties

Operational & Team Support

  • Support document custodian processes and resolve related issues

  • Assist with internal imaging platforms and document tracking

  • Collaborate with cross-functional teams to ensure workflow efficiency

  • Provide backup support to other Home Preservation functions as needed

Experience: 1–3 years of experience in administrative support, operations, mortgage servicing, or a related field is preferred.

Education:

High school diploma or GED is required.

Required Skills:
  • Strong attention to detail with the ability to process data accurately and efficiently
  • Excellent organizational and time management skills
  • Strong verbal and written communication skills
  • Ability to prioritize tasks and meet deadlines in a fast-paced environment
  • Strong problem-solving and research skills
  • Professional and collaborative approach when working with diverse teams
  • Proficiency in Microsoft Office Suite
  • General office and administrative experience

Preferred Skills:

  • Working knowledge of mortgage or mortgage servicing
  • Experience with ICE MSP or similar loan servicing systems

Physical Requirements: While performing the duties of this job, the employee is regularly required to sit, stand, and walk. The employee must occasionally lift and/or move up to 20 pounds. The employee is frequently required to spend extended hours in front of a computer screen, use hands and fingers, and speak and listen on the telephone.

Work Environment: This is an onsite position located in Grand Rapids, MI. Candidates must be able to work on-site and meet department scheduling and operational requirements.

If you are looking for a company that is dedicated to your success and is ethically motivated to provide exceptional member service, we encourage you to apply!


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