ZipRecruiter

Log In

1

Loan Modification Jobs (NOW HIRING)

M&T Bank

Loss Mitigation Underwriter I

Getzville, NY

$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 ...

aldridgepite

MOTIONS Processor

Dallas, TX · On-site

Purpose Preparation, Processing and Filing Motions, Orders, Notice of Hearing, Adequate Protection Orders, Response to Motions to Sell, Motions to Approve Loan Modification/Deferrals/Partial Claims ...

Peoples Bank

Credit Administrator

Lexington, KY · 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 ...

Peoples Bank

Credit Administrator

Louisville, KY · 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 ...

7 17 Credit Union

Be Seen First

Consumer Loan Processor

Warren, OH · On-site

$18.78 - $24.73/hr

This includes, but is not limited to, helpdesks, miscellaneous lending reports processing or funding indirect loans, balancing internal draft accounts and GLs, completing loan modification agreements ...

Peoples Bank

Credit Administrator

Bowling Green, KY · 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 ...

aldridgepite

MOTIONS Processor

Dallas, TX

Purpose Preparation, Processing and Filing Motions, Orders, Notice of Hearing, Adequate Protection Orders, Response to Motions to Sell, Motions to Approve Loan Modification/Deferrals/Partial Claims ...

aldridgepite

MOTIONS Processor

Atlanta, GA · On-site

Purpose Preparation, Processing and Filing Motions, Orders, Notice of Hearing, Adequate Protection Orders, Response to Motions to Sell, Motions to Approve Loan Modification/Deferrals/Partial Claims ...

Peoples Bank

Credit Administrator

Beachwood, 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 ...

Peoples Bank

Credit Administrator

Marietta, 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 ...

7 17 Credit Union

Consumer Loan Processor

Streetsboro, OH · On-site

$18.78 - $24.73/hr

This includes, but is not limited to, helpdesks, miscellaneous lending reports processing or funding indirect loans, balancing internal draft accounts and GLs, completing loan modification agreements ...

next page

Showing results 1-20

All JobsLoan Modification Jobs

Loan Modification information

See salary details

$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, 88% Full Time, 7% 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.
Loss Mitigation Underwriter I

Loss Mitigation Underwriter I

M&T Bank

Getzville, NY

$20.55 - $34.25/hr

Full-time

Posted 5 days ago

M&T Bank rating

7.8

Company rating: 7.8 out of 10

Based on 184 frontline employees who took The Breakroom Quiz

76th of 149 rated banks

Job description

Overview:

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 documents for loss mitigation.
  • Communicate with customers, real estate agents and attorneys to negotiate short sale settlement offers and advise of loss mitigation decisions.
  • Manage and monitor account portfolio to ensure that all documentation and account decisions comply with banking policies, investor guidelines and applicable regulations.
  • Assess property value and variance between appraised properties and offers submitted by potential buyers.
  • Review tax returns, income statements, pay stubs, credit reports and general customer financial documents.
  • Determine the most suitable repayment option for customers and calculate loan modification terms.
  • Prepare workout summaries for management approval.
  • Communicate with Single Point of Contact, title vendors and Loss Mitigation Closing team to gather information and resolve account complications.
  • Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
  • Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
  • Promote an environment that supports belonging and reflects the M&T Bank brand.
  • Complete other related duties as assigned.
Scope of Responsibilities:

Works a portfolio of approximately 70 loans.

Education and Experience Required:

A combined 3 years' higher education and/or experience, including a minimum of 1 year collections or underwriting experience.

Ability to communicate effectively and professionally over the phone.

Excellent communication and customer service skills.

Proficiency with word processing and spreadsheet software.

Education and Experience Preferred:

Bachelor's degree.

Paralegal certification or experience.

Mortgage collections experience.

Knowledge of M&T systems.

M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $20.55 - $34.25 Hourly (USD). The successful candidate's particular combination of knowledge, skills, and experience will inform their specific compensation.LocationGetzville, New York, United States of America

What M&T Bank employees say

Pay

Benefits

Hours and flexibility

Workplace

Get the full story on Breakroom

Apply