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Loss Mitigation Processor Jobs (NOW HIRING)

Camdennational

Loss Mitigation Specialist

Gardiner, ME · On-site

Responsible for following the account throughout the loss mitigation process from first contact through eventual claim (if appropriate). * If the borrower is uncooperative, or otherwise unable to ...

Guild

Loss Mitigation Supervisor

$52K - $76K/yr

He or she also ensures loss mitigation reviews and processes are conducted timely, accurately and in compliance with established investor, company, state and federal guidelines and regulations.

Zippy, Inc

Loss Mitigation Specialist

Strong working knowledge of loss mitigation solutions and default processes * Experience reviewing borrower financial documents (tax returns, pay stubs, bank statements) * Ability to manage a ...

First National Bank of Omaha

$37K - $59K/yr

As the Sr. Account Specialist develops in the role, there will be opportunities to expand expertise into Foreclosure, Bankruptcy, and Loss Mitigation processes. Must reside near the FNBO Tower in ...

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$28.5K

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$94.5K

How much do loss mitigation processor jobs pay per year?

As of Jun 7, 2026, the average yearly pay for loss mitigation processor in the United States is $50,903.00, according to ZipRecruiter salary data. Most workers in this role earn between $40,000.00 and $55,000.00 per year, depending on experience, location, and employer.

What are some common challenges faced by Loss Mitigation Processors, and how can they be managed effectively?

Loss Mitigation Processors often encounter challenging situations, such as handling high volumes of distressed loan files and navigating complex borrower circumstances. Meeting strict regulatory and lender deadlines can also be demanding. To manage these challenges effectively, strong organizational skills, attention to detail, and clear communication with borrowers and internal teams are essential. Collaborating closely with underwriters, loan officers, and legal departments helps ensure accurate documentation and timely resolution of cases.

What are Loss Mitigation Processors?

Loss Mitigation Processors are professionals who work with mortgage lenders and borrowers to help prevent foreclosure by evaluating and processing various alternatives, such as loan modifications, repayment plans, short sales, or deeds-in-lieu of foreclosure. Their main role is to review borrower applications, assess financial documents, and determine eligibility for loss mitigation programs. They also communicate with borrowers, collect necessary paperwork, and coordinate with underwriters or other departments to ensure timely resolution of delinquent loans. By helping borrowers find solutions to keep their homes or minimize losses for the lender, Loss Mitigation Processors play a crucial role in the mortgage servicing industry.

What is the difference between Loss Mitigation Processor vs Loan Processor?

AspectLoss Mitigation ProcessorLoan Processor
CredentialsTypically requires high school diploma or equivalent; some roles prefer mortgage or financial certificationsHigh school diploma or equivalent; mortgage or financial certifications are common
Work EnvironmentFinancial institutions, mortgage companies, call centersMortgage lenders, banks, financial institutions
Employer & Industry UsageFocuses on preventing foreclosure and managing distressed loansFocuses on processing new loan applications and approvals

While both roles work within the mortgage and financial industry, a Loss Mitigation Processor primarily handles distressed loans to prevent foreclosure, whereas a Loan Processor manages the approval process for new loans. The skills and certifications overlap, but their core responsibilities differ significantly.

What are the key skills and qualifications needed to thrive as a Loss Mitigation Processor, and why are they important?

To thrive as a Loss Mitigation Processor, you need a solid understanding of mortgage servicing, loan documentation, and regulatory guidelines, typically supported by experience in banking or finance. Proficiency with loan servicing software, Microsoft Office Suite, and knowledge of federal and investor loss mitigation programs is essential. Strong analytical skills, attention to detail, and effective communication are crucial soft skills for evaluating borrower situations and collaborating with various stakeholders. These skills ensure accurate processing, regulatory compliance, and successful outcomes for both borrowers and lenders.
More about Loss Mitigation Processor jobs
What job categories do people searching Loss Mitigation Processor jobs look for? The top searched job categories for Loss Mitigation Processor jobs are:
Loss Mitigation Processor jobs near you

Loss Mitigation Specialist

Camden National Bank

Gardiner, ME • On-site

Full-time

Medical, Dental, Vision, Retirement

Posted 7 days ago

Camden National Bank rating

6.6

Company rating: 6.6 out of 10

Based on 12 frontline employees who took The Breakroom Quiz

117th of 141 rated banks

Job description

Live here. Play here. Bank here. Work here.
If you're looking to build your career at a forward-thinking organization with deep community roots and a vision for growth, success, and giving back, you've come to the right place.
Get to know us:
  • We're your local community bank-and have been since 1875-that is committed to providing excellent customer service and giving back to our communities.
  • We foster a collaborative, inclusive work environment as part of a close-knit team where your voice is valued and heard.
  • Our highly engaged employees are rewarded for their performance and have ample opportunities for cross-training and advancement within the organization.
  • We've been named one of the best places to work in Maine, and offer robust benefits focused on your holistic well-being.

The primary responsibilities include contacting severely delinquent borrowers on serviced and bank-owned loans to determine causes of delinquency. The essential functions are noted below; however, at Camden National responsibilities may evolve over time given organization, technological and/or staffing changes. At any point other duties may be assigned.
Essential Duties and Responsibilities include the following.
  • Collect financial information and review for possible loss mitigation options to cure the borrower's delinquency,
  • In the event of an incurable default, working with borrowers to liquidate their homes in an expeditious and cost-effective manner.
  • Responsible for following the account throughout the loss mitigation process from first contact through eventual claim (if appropriate).
  • If the borrower is uncooperative, or otherwise unable to qualify for a loss mitigation alternative, the Specialist will present the file to the team leader and/or the Holder of the mortgage for approval to refer the matter to an attorney for foreclosure.
  • Potential to be involved in the court-mandated mediation program is a distinct possibility.
  • Will also be involved in the oversight of property management to including review of property inspection reports, appropriate action to preserve and protect properties following the published guidelines of the Holder and/or any mortgage insurance company that may be involved in the loan.
  • Will shadow and cross-train with the team leader in an ongoing effort to expand their knowledge and utility to the Bank.
  • The position may also include the calling of delinquent Borrowers for payments on loans running from 15 - 90 days past due, depending on department staffing.

Supervisory Responsibilities
This job has no supervisory responsibilities.
Qualifications To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience
Two year college degree or equivalent experience. Three to five years of collections, underwriting or home ownership counseling experience is preferred. Three to five years of collections, underwriting, or home ownership counseling experience is preferred. A basic knowledge of practical home ownership is encouraged.
Language Skills
Ability to read and comprehend simple instructions, short correspondence, and memos. Ability to write simple correspondence. Ability to effectively present information in one-on-one and small group situations to customers, clients, and other employees of the organization.
Mathematical Skills
Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent and to draw and interpret bar graphs.
Reasoning Ability
Ability to apply common sense understanding to carry out detailed but uninvolved written or oral instructions. Ability to deal with problems involving a few concrete variables in standardized situations.
Computer Skills
To perform this job successfully, an individual should have knowledge of Internet software; Excel Spreadsheet software and Word Processing software.
Physical Demands The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this Job, the employee is regularly required to sit. The employee is frequently required to talk or hear. The employee is occasionally required to stand; walk and use hands to finger, handle, or feel. The employee must occasionally lift and/or move up to 25 pounds.
Work Environment The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The noise level in the work environment is usually moderate.
Our comprehensive total rewards package offers something for everyone!
  • Robust medical, dental, and vision insurance packages
  • Generous time off, including paid federal holidays and paid day off for your birthday
  • 401(k) retirement savings plan
  • Tuition reimbursement, professional development, and career growth opportunities
  • Employee assistance program
  • Comprehensive wellness program

Pursue a career at Camden National Bank and apply today. We can't wait to hear from you!
We are guided and inspired by our Core Values:
  • Honest and Integrity above all else
  • Trust built on fairness
  • Service that creates remarkable experiences
  • Responsibility to use our resources for the greater good
  • Excellence through hard work and lifelong learning
  • Diversity realized through inclusion and respect

Equal Opportunity Employer
Employment with Camden National is on an at-will basis, meaning employment is not guaranteed for any specific period of time, and any employment relationship established may be terminated by either party at any time, for any reason, with or without notice. Completion of an employment application is not a contract, express or implied, guaranteeing employment. Camden National Bank is an Equal Opportunity Employer and does not discriminate on the grounds of race, color, religion, sex, sexual orientation, including gender identity and gender expression, national origin, citizenship status, age, disability, genetic information or veteran status.
Learn more about why employees love working at Camden National Bank!

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