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Loss Mitigation Underwriter Jobs (NOW HIRING)

Selene Holdings

Loss Mitigation Underwriter

Dallas, TX

$115K/yr

The Loss Mitigation Underwriter is a key contributor in the loan resolution process, responsible for evaluating complex borrower workout options-including repayment plans, loan modifications, short ...

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M&T Bank

Loss Mitigation Underwriter II

Getzville, NY · On-site

$22.61 - $37.67/hr

Understand investor waterfalls and required documents for loss mitigation. * Manage and monitor ... years' collections or underwriting experience. Ability to communicate effectively and ...

M&T Bank

Loss Mitigation Underwriter II

Getzville, NY · On-site

$22.61 - $37.67/hr

Understand investor waterfalls and required documents for loss mitigation. * Manage and monitor ... years' collections or underwriting experience. Ability to communicate effectively and ...

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Loss Mitigation Underwriter information

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$32.5K

$78.9K

$139.5K

How much do loss mitigation underwriter jobs pay per year?

As of Aug 6, 2026, the average yearly pay for loss mitigation underwriter in the United States is $78,878.00, according to ZipRecruiter salary data. Most workers in this role earn between $61,000.00 and $87,000.00 per year, depending on experience, location, and employer.

What are the typical daily responsibilities of a loss mitigation underwriter?

As a Loss Mitigation Underwriter, your daily tasks usually involve reviewing borrowers’ financial information, evaluating loan documents, and assessing eligibility for workout options such as loan modifications, short sales, or repayment plans. You will analyze risk, document findings, and prepare recommendations to help prevent foreclosures. Coordinating with loan officers, customer service teams, and sometimes directly with borrowers is a key part of the job, ensuring clear communication throughout the process. The role requires balancing efficient decision-making with thorough documentation to meet regulatory and company standards.

What are the key skills and qualifications needed to thrive as a loss mitigation underwriter?

To thrive as a Loss Mitigation Underwriter, you need a strong understanding of mortgage underwriting, risk assessment, and familiarity with foreclosure prevention strategies, often supported by experience in financial services or lending. Proficiency with loan origination systems, underwriting software, and knowledge of relevant regulations such as FHA, VA, and Fannie Mae guidelines is typically required. Strong analytical skills, attention to detail, and effective communication help you collaborate with borrowers and internal teams to develop successful solutions. These skills ensure accurate risk evaluations and help minimize financial losses for both lenders and borrowers.

How to become a loss mitigation underwriter?

To become a loss mitigation underwriter, candidates typically need a bachelor's degree in finance, business, or a related field, along with experience in mortgage or insurance underwriting. Strong analytical skills, knowledge of loan modification processes, and familiarity with underwriting software are important, and obtaining relevant certifications can enhance job prospects.

What is a loss mitigation underwriter?

A Loss Mitigation Underwriter is responsible for assessing borrowers' financial situations to determine viable solutions for delinquent or at-risk loans. They analyze financial documents, property values, and hardship circumstances to recommend modifications, repayment plans, short sales, or other loss mitigation strategies. Their goal is to minimize financial risk for lenders while helping borrowers avoid foreclosure. Strong analytical skills, knowledge of mortgage regulations, and experience in underwriting or risk assessment are crucial for success in this role.

Is underwriting a high stress job?

Loss mitigation underwriters often work in a high-pressure environment due to the need to assess risk accurately and meet strict deadlines. The role requires attention to detail, strong decision-making skills, and the ability to handle complex financial information, which can contribute to job stress levels.
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Loss Mitigation Underwriter jobs near you
Infographic showing various Loss Mitigation Underwriter job openings in the United States as of August 2026, with employment types broken down into 73% Full Time, 25% Part Time, 1% Temporary, and 1% Contract. Highlights an 96% Physical, 1% Hybrid, and 3% Remote job distribution, with an average salary of $78,878 per year, or $37.9 per hour.

Loss Mitigation Underwriter

Cornerstone Capital Bank

Englewood, CO • On-site

$50/hr

Full-time

Medical, Dental, Vision, Life, Retirement

Re-posted 26 days ago

Job description

***No agencies or 3rd party Recruiters please. Thank you! ***
Who we are:
Cornerstone Servicing, a division of Cornerstone Capital Bank, is a best-in-class mortgage servicer with a reputation for amazing service, customer satisfaction, employee retention and happiness! We employ people who are passionately committed to Cornerstone's Mission, Vision & Core Convictions.
We honor God by using our talents to make a positive difference in the lives of our Team Members, Clients, Shareholders, Communities, and the People who provide services to us.
Who we are looking for:
Cornerstone Servicing is looking to add a Loss Mitigation Underwriter to our growing team in either of our Houston or Denver locations. The Loss Mitigation Underwriter will be responsible for the underwriting of loss mitigation assistance packages to determine eligibility for assistance options.
  • Location: Houston, TX or Denver, CO
  • Compensation: $50-60k

Key Responsibilities:
  • Complete reviews of incoming assistance packages to confirm proper acknowledgment.
  • Order and evaluate any required third-party documentation including, but not limited to, credit reports, title reports, and valuations.
  • Review customer hardship and supporting documentation.
  • Calculate gross and net income and evaluate available liquid assets.
  • Review prior workout history for the life of the loan and during the current delinquency episode.
  • Confirm basic eligibility criteria to be used for investor waterfall programs including, but not limited to, delinquency, property occupancy, property condition, loan seasoning, and escrow account status.
  • Recommend assistance application decisions based on all investor waterfall financial, basic eligibility, and term calculation requirements.
  • Handle non-delegated investor and mortgage insurer submission requirements.
  • Confirm proper reporting of approved workouts to all required investor systems.
  • Ensure timely production and mailing of all decision letters and communications.

What you'll need to be successful:
  • High School Diploma/GED or equivalent work experience
  • 3 - 5 years of experience in Loss Mitigation underwriting preferred.
  • Experience with Black Knight Director 7 (MSP) and Loss Mitigation Solution (LMS) desired.
  • Knowledge of Fannie Mae, Freddie Mac, and Ginnie Mae documentation and underwriting requirements.
  • Understanding of the investor waterfall evaluation process and workout term calculation.
  • Experience working in Fannie Mae - SMDU, Freddie Mac - Resolve, VA - VALERI, and USDA - USDALinc systems preferred.
  • Strong organizational skills and attention to detail.
  • High level of Integrity/confidentiality while handling secure information in addition to having the ability to work through stressful situations professionally and handle frequent changes.
  • Minimum 2 years of experience using Microsoft Office Suite (Word, Excel, Outlook, etc.)

What we offer:
Because we recognize and reward hard work, we offer a competitive salary, Medical, Dental, Vision, , Accidental Death, Long-Term Disability, Short-Term Disability, FSA, HSA, 401K, Basic Life, Voluntary Life, and Paid Parental Leave benefits, as well as the opportunity for a performance based bonus based on position and department.
What to do next:
If Cornerstone sounds like the place for you (and if you have the qualifications, drive, and passion to match), we invite you to become a member of our winning team! And remember, once you're a part of our Cornerstone team, we'll continue to invest in you as a valuable asset to our company. As many of our team members can tell you, there's something special about working at Cornerstone.
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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