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Loss Mitigation Processor Jobs (NOW HIRING)

Alliant

Lead Residential Loss Mitigation Analyst

Chicago, IL · On-site

$76K - $119K/yr

Act as the subject matter expert (SME) for loss mitigation, default, REO, and property preservation ... Identify process gaps and recommend operational risk mitigation strategies. * Ensure documentation ...

TTCU

Mortgage Loss Mitigation Representative

Tulsa, OK · On-site

This role requires a strong understanding of mortgage servicing, investor guidelines, loss mitigation options, and foreclosure processes. The position serves as the primary coordinator for mortgage ...

TTCU

Mortgage Loss Mitigation Representative

Tulsa, OK · On-site

This role requires a strong understanding of mortgage servicing, investor guidelines, loss mitigation options, and foreclosure processes. The position serves as the primary coordinator for mortgage ...

BOK Financial

Loss Mitigation Coordinator

Irving, TX · On-site

The Loss Mitigation Coordinator is responsible for reviewing paperwork to determine if it is ... Timely and accurate performance is critical to successful and timely processing to avoid ...

Qcells

Director of Loss Mitigation

San Francisco, CA · On-site +1

$150K - $180K/yr

The Director of Loss Mitigation is responsible for leading and executing strategies that protect ... The Director will develop scalable processes, manage third-party vendors, and coordinate cross ...

Qcells

Director of Loss Mitigation

San Francisco, CA · On-site

$150K - $180K/yr

The Director of Loss Mitigation is responsible for leading and executing strategies that protect ... The Director will develop scalable processes, manage third-party vendors, and coordinate cross ...

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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
Lead Residential Loss Mitigation Analyst

Lead Residential Loss Mitigation Analyst

Alliant

Chicago, IL • On-site

$76K - $119K/yr

Full-time

Medical, Dental, Vision, Retirement

Posted 21 days ago

Job description

In this hybrid role base at our Chicago Headquarters you will manage and approve borrower assistance reviews, default operations, and REO-related activities. Oversee and provide guidance to our sub-servicer regarding the full default lifecycle from early intervention through loss mitigation, property preservation, REO disposition, and charge-off documentation. Ensure regulatory compliance, risk mitigation, and asset recovery through proactive portfolio management, stakeholder coordination, and data-driven decision-making.
Essential Responsibilities
  • Act as the subject matter expert (SME) for loss mitigation, default, REO, and property preservation activities and oversee review and decisioning of borrower assistance applications with sub-servicer.
  • Ensure compliance with ACU, NACU, Fannie Mae, Freddie Mac, FHA, VA, USDA, Investor, and CFPB servicing requirements, while meeting federal/state regulations and investor/insurer guidelines.
  • Complete equity analysis to determine the most financially appropriate resolution, including liquidation vs. retention options and work with sub-servicer and any third parties regarding REO property preservation, safety compliance, and remediation activities after foreclosure.
  • Prepare charge-off or loss documentation packages, including financial justification and final file write-up to be presented for approval.
  • Coordinate with sub-servicer to ensure timely securing, maintenance, and repairs. Provide updates to management or additional department to manage expectations across the enterprise. Ensure accurate write-ups for charge-off, loss recognition, and final disposition reporting. Validate property valuations (BPOs, appraisals), cost estimates, and liquidation timelines.
  • Partner with team such as quality assurance, risk, audit, and compliance on reviews and corrective actions.
  • Develop, update, and maintain policies, procedures, job aids, and process documentation for loss mitigation, default operations, and REO workflows. Identify process gaps and recommend operational risk mitigation strategies.
  • Ensure documentation reflects regulatory changes, investor updates, and best-practice controls.
  • Provide SME support for regulatory exams, audits, and internal risk assessments.
  • Track KPIs such as application aging, cycle times, mod conversion, REO timelines, property preservation expenses, and portfolio trends.
  • Prepare reports and present performance insights to leadership.
  • Support business initiatives, system enhancements, and operational optimization efforts.

Adhere to and ensure compliance of all business transactions with policy and process of the Bank Secrecy Act. Ensures compliance with all applicable state and federal laws, company procedures and policies. Maintains integrity and ethics in all actions and conversations with or regarding credit union members and their accounts; complies with Privacy Act directives.
The responsibilities listed do not contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this position. Duties, responsibilities and activities may change at any time with or without notice.
Education
Minimum - High School or equivalent
Years of Experience
Minimum - 5 Years of Loss mitigation, default servicing, REO property preservation or related
Compensation & Benefits:
Typical hiring range: $76,600.00 to $119,100.00 Annually. Actual compensation will be determined using factors such as experience, skills & knowledge.
Benefits: Alliant provides a benefits package including health care, vision, dental, and 401k with employer match including:
  • Annual performance bonus
  • Work from home up to 3 days a week
  • Paid parental leave
  • Employee discount programs
  • Time off including paid personal and sick days
  • 11 paid holidays
  • Education reimbursement

*Note that eligibility and cost of benefits can vary depending on the number of regularly scheduled hours, and job status such as regular full-time, regular part-time, or temporary employment.
Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.

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