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Loss Mitigation Representative Jobs (NOW HIRING)

Centra

VP Loss Prevention Solutions

Columbus, IN

... mitigation. * Leads vendor relationships for 3rd party collections, recovery agents, legal representation, insurance, and technology solutions. * Oversees the liquidation of collateral on behalf of ...

Centra

VP Loss Prevention Solutions

Columbus, IN · On-site

... mitigation. * Leads vendor relationships for 3rd party collections, recovery agents, legal representation, insurance, and technology solutions. * Oversees the liquidation of collateral on behalf of ...

Freedom Mortgage

SPOC Servicing Supervisor

Columbia, MD · On-site +1

Provides direction to Loss Mitigation Specialists on department goals; drives call focus based on ... The requirements listed below are representative of the knowledge, skill, and/or ability required.

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How much do loss mitigation representative jobs pay per hour?

As of Aug 23, 2026, the average hourly pay for loss mitigation representative in the United States is $22.38, according to ZipRecruiter salary data. Most workers in this role earn between $18.27 and $25.72 per hour, depending on experience, location, and employer.

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

AspectLoss Mitigation RepresentativeLoan Processor
CredentialsTypically requires high school diploma or equivalent; some roles prefer mortgage or financial certificationsHigh school diploma or equivalent; may have mortgage or loan processing certifications
Work EnvironmentFinancial institutions, mortgage companies, call centersMortgage companies, banks, lending institutions
Employer & IndustryMortgage lenders, banks, financial servicesMortgage lenders, banks, credit unions
Primary FocusHelping homeowners avoid foreclosure through loan modifications and repayment plansReviewing and verifying loan documents to process mortgage applications

While both roles operate within the mortgage and financial industry, Loss Mitigation Representatives focus on assisting homeowners in avoiding foreclosure by negotiating loan modifications, whereas Loan Processors handle the review and processing of mortgage applications. Both positions require knowledge of mortgage procedures and customer service skills, but their primary responsibilities differ significantly.

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What states have the most Loss Mitigation Representative jobs?

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Loss Mitigation Representative jobs near you
Infographic showing various Loss Mitigation Representative job openings in the United States as of August 2026, with employment types broken down into 100% Full Time. Highlights an 100% In-person job distribution, with an average salary of $46,560 per year, or $22.4 per hour.

Collections Specialist (Mortgage Servicing - Loss Mitigation)

SERVION INC

New Brighton, MN • On-site

$22.89 - $29.87/hr

Full-time

Medical, Dental, Vision, Life, Retirement

Re-posted 22 days ago

Job description

Description

SUMMARY:


Resolution calls for past due mortgage payments. Administration of initial steps involved with Loss Mitigation programs. Primary contacts include members, staff, investors, vendors/partners, management staff and others involved in the loss mitigation process.

ESSENTIAL RESPONSIBILITIES & DUTIES:

Entry Level

  • Make outbound resolution calls as required using early delinquency reports.
  • Mail Loss Mitigation documentation and NOD/Breach Letters to members as required. 
  • Produce and mail late notices as directed.  
  • Keep abreast of government regulations and changes in industry standards as directed.
  • Comply with applicable consumer laws, regulations, company guidelines, etc. by maintaining a current knowledge of mortgage compliance or other policies, investor requirements, procedures, guidelines and current standards including FDCPA laws, CFPB, and all investor guidelines.
  • Actively participate in quarterly performance meetings; meet or exceed all performance metrics.
  • Maintain the confidentiality of all information processed.
  • Perform related duties as required.
  • Determine loss mitigation activity pre-qualifications

Senior - Level II

  • Responsible for the training of new and current Resolutions Specialists.
  • Report monthly delinquent loans to all investors
  • Interface with FNMA, FHLMC, GNMA, and investor credit unions about ongoing collection activity, including foreclosures, short sales, and deed in lieu of foreclosure and bankruptcy
  • Coordinate and process requests for modifications either on portfolio or GSE loans, ensuring that proper reporting is completed
  • Maintain accurate records of collection activities on all loan accounts
  • Report delinquency status to MI companies
  • Provide reports to management and investors as necessary

ESSENTIAL DUTIES, KNOWLEDGE, SKILLS, ABILITIES:

Required:

  • Thorough knowledge of first mortgage real estate lending practices, including federal regulatory requirements, state regulations, agency and Credit Union requirements.
  • Familiarity with AllRegs.
  • Ability to work the days and hours necessary to perform all assigned responsibilities and tasks. Must be available (especially during business hours or shifts) to communicate with subordinates, supervisors, customers, vendors, and any other person or organization with whom interaction is required to accomplish work and employer goals. 
  • Basic MS Office.
  • Proficiency in using and learning mortgage loan software.
  • Reporting, letter preparation, group presentation and other related communications skills.
  • Ability to attend meetings or perform other assignments at locations outside the office, if necessary.
  • Ability to define problems, collect data, establish facts and draw valid conclusions.

Preferred:

  • Experience with FNMA SMDU and FHLMC Workout Prospector
  • Experience with VALERI, FHA Connection, PACER, and HomeTracker

COMPENSATION: $22.49 - $29.87 per hour

The Servion Group has provided a salary range that represents its good faith estimate of what the company may pay for the position at the time of posting. The specific salary offered will be determined based on factors such as the qualifications of the selected candidate, departmental budget, internal salary equity considerations, and available market information.


General Description of Benefits:
All full-time employees are eligible for Medical Insurance, Telehealth Services, Dental Insurance, Vision Insurance, Life Insurance, Short-term Disability, Long-term Disability, Legal and Identity Theft Protection, Critical Illness Insurance, Hospital Insurance, Accident Insurance, Participation in 401k Plan with up to 5% company match, and Discretionary Bonus Possible but not guaranteed.

Requirements

PREFERRED QUALIFICATIONS:

  • Education: High School Diploma, GED or Equivalent.  
  • Experience: 1-2 years servicing residential loan collections; 3+ years servicing collections for Sr. Level. 
  • Licenses/Certifications: None


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