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Loss Mitigation Processor Jobs (NOW HIRING)

S and T Bank

Loss Mitigation Specialist

Indiana, PA · On-site

Coordinate all functions within Government (FNMA) loans including but not limited to loss mitigation process and procedures, foreclosure and bankruptcy; ensure all functions are performed in full ...

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

Lead, Loss Mitigation

$24.23 - $33.39/hr

The Loss Mitigation Lead conducts timely, accurate, and compliant reviews of files by investor ... the decision process is completed on time and in accordance with regulations and guidelines.

Guild

Loss Mitigation Supervisor, SPOC

$64K - $90K/yr

Interview candidates and facilitate onboarding process with new hires. * Assure Loss Mitigation SPOC Representatives manage call volumes in accordance with all applicable regulations and laws; verify ...

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.

LoanCare

Loss Mitigation Coordinator- Remote

$58K - $98K/yr

Overview The Loss Mitigation Coordinator leads reporting, analytics, and operational execution ... Establish and enforce reporting standards, best practices, and repeatable processes. * Ensure ...

Guild

Loss Mitigation Intake Coordinator

San Diego, CA · On-site

$19 - $26/hr

The role is primarily responsible for managing the initial intake process for customers seeking loss mitigation assistance. This role involves gathering and reviewing financial documents, supporting ...

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Loss Mitigation Processor information

See salary details

$28.5K

$50.9K

$94.5K

How much do loss mitigation processor jobs pay per year?

As of Jul 23, 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
Infographic showing various Loss Mitigation Processor job openings in the United States as of July 2026, with employment types broken down into 75% Full Time, 23% Part Time, 1% Temporary, and 1% Contract. Highlights an 97% Physical, 1% Hybrid, and 2% Remote job distribution, with an average salary of $50,903 per year, or $24.5 per hour.

Loss Mitigation Specialist

S and T Bank

Indiana, PA • On-site

Full-time

Posted 28 days ago

Job description

Function: Coordinate all functions within Government (FNMA) loans including but not limited to loss mitigation process and procedures, foreclosure and bankruptcy; ensure all functions are performed in full compliance with Investor Guidelines; assist in minimizing non-performing loan losses by managing distressed loans through different stages of the loss mitigation process, including identifying customer hardships, reviewing loss mitigation requests, and working with S&T and outside counsel.
Duties and Responsibilities:
  • Maintain, stay current on changes in industry regulations, and update procedure manual to ensure internal procedures comply with investor and regulatory requirements with all Fannie Mae (FNMA) loans.
  • Participates in activities and projects designed to improve business performance.
  • Requests and gathers supporting documentation required in order to create complete loan workout packages within required timeframes that comply with investor, insurer, state, federal and CFPB guidelines.
  • Follow up on outstanding issues to ensure decision process is completed in a timely manner and in accordance with regulations and guidelines.
  • Maintain regular communication with borrowers; explore, analyze, and respond to issues and concerns via phone, email and through written correspondence. With includes following up on outstanding issues to ensure decision process is completed in a timely manner and in accordance with regulations and guidelines.
  • Responsible for ensuring the optimum efficiency and effectiveness of the area by:
  • Ensuring all BVS and applicable external training are completed.
  • Provide back-up phone support to portfolio loans team during high volume periods to maintain service level.
  • Review delinquencies: discuss repayment plans and options with customers in detail, discuss repayment plans with investors. Obtain credit reports, appraisals, inspections, surveys, and title work. Identify situations where foreclosure is recommended; determine if investor guidelines and the terms of the security instruments have been complied with. Creates FNMA trial payment and forbearance plan agreements.
  • Manage the foreclosure process in conjunction with our approved Legal Counsel; ensure that foreclosures are processed in accordance with investor timelines. Resolve title issues to ensure a marketable title to the property if the property becomes an FNMA REO.
  • Monitor repayment plans and determine corrective action on repayment plans in default. Recognize and identify problems, sorting through complex issues and make timely reliable decisions and effectively communicating in a timely manner with supervisor.
  • Determine if customer qualifies for investor modification and determine which modification program would work best for the customer and upload documentation to investor to determine if customer qualifies. Also tracks receipt of FNMA signed loan modifications and explain loan modifications terms to borrowers.
  • Prepare FNMA agreements and loan modification documentation to be sent for signatures by the customer. Upon completion of trial period payments, prepare permanent modification agreement and send to be recorded. Also ensure all modification agreements are notarized.
  • Enter and upload documents to external FNMA system/website in order to obtain review and approval for loan modifications.
  • Continuing research of investors website for changes in websites, applications, modifications, short sale documentation, foreclosure documentation etc. Read any newsletters or information emailed by investor on a bi-weekly or monthly basis and implement the changes required.
  • Assists with internal and external audit requests.
  • Maintains a good working relationship with all bank employees. Demonstrates the ability to work independently. Works as a team player to contribute to the success of the department and in turn the organization.
  • Performs additional duties as required.
  • Be cognizant of UDAAP and any other regulations during contact with customers.

Education:
Requires high school degree plus two-year degree preferred.
Experience:
Requires five to ten years general business experience with two to five years of specialized experience, specifically prior collection experience preferred.
Physical Demands:
Operates a keypad device, or electronic and office equipment 87% of the day; 87% of the day. Sitting is required 87% of the day. Performs daily tasks with the use of manual dexterity skills for both typing and filing on frequent basis up to 60% of the business day. Must be able to focus visually at a close distance of 18"-20" for a period of up to 40% of the business day.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
Salary Range:
$15.00 - $30.53

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