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Mortgage Loss Mitigation Jobs (NOW HIRING)

cathaybank

Mortgage Loss Mitigation Team Lead

El Monte, CA · On-site

$33.65 - $43.27/hr

Provide technical and procedural support and direction to Mortgage Loss Mitigation team members. ESSENTIAL FUNCTIONS * Manage late-stage delinquent loan inbound, outbound, and follow-up calls with ...

cathaybank

Mortgage Loss Mitigation Team Lead

El Monte, CA · On-site

$33.65 - $43.27/hr

Provide technical and procedural support and direction to Mortgage Loss Mitigation team members. ESSENTIAL FUNCTIONS * Manage late-stage delinquent loan inbound, outbound, and follow-up calls with ...

Cathay Bank

Mortgage Loss Mitigation Team Lead

El Monte, CA · On-site

$33.65 - $43.27/hr

Provide technical and procedural support and direction to Mortgage Loss Mitigation team members. ESSENTIAL FUNCTIONS * Manage late-stage delinquent loan inbound, outbound, and follow-up calls with ...

Cathay Bank

Mortgage Loss Mitigation Team Lead

El Monte, CA · On-site

$33.65 - $43.27/hr

Provide technical and procedural support and direction to Mortgage Loss Mitigation team members. ESSENTIAL FUNCTIONS * Manage late-stage delinquent loan inbound, outbound, and follow-up calls with ...

Guild

Lead, Loss Mitigation

$24.23 - $33.39/hr

Guild Mortgage Company , closing loans and opening doors since 1960. As a mortgage banking firm we ... The Loss Mitigation Lead conducts timely, accurate, and compliant reviews of files by investor ...

Newrez

Supervisor - Loss Mitigation

Tempe, AZ · On-site

Every day, we work to exceed the expectations of our residential mortgage borrowers and business ... Primary Function Supervises a team of Loss Mitigation Specialists to minimize losses on delinquent ...

Selene Holdings

Loss Mitigation Specialist

Dallas, TX · On-site

Founded in 2007 to address needs in the mortgage industry, Selene strives to provide amazing client ... The Loss Mitigation Specialist has proven mastery of the requirements of the Loss Mitigation ...

M&T Bank

Loss Mitigation Processor (SPOC)

Getzville, NY · On-site

$22.61 - $37.67/hr

Take inbound and make outbound calls to assigned portfolio of mortgage loan borrowers that are delinquent in their loan payments and who are investigating loss mitigation options or are in ...

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How much do mortgage loss mitigation jobs pay per hour?

As of Aug 30, 2026, the average hourly pay for mortgage loss mitigation in the United States is $23.76, according to ZipRecruiter salary data. Most workers in this role earn between $18.99 and $27.40 per hour, depending on experience, location, and employer.

What is a mortgage loss mitigation?

A Mortgage Loss Mitigation job involves working with homeowners who are struggling to make their mortgage payments. Professionals in this role assess borrowers' financial situations and explore options like loan modifications, repayment plans, or short sales to help prevent foreclosure. They collaborate with lenders, investors, and government programs to find sustainable solutions. Strong financial analysis, negotiation, and customer service skills are essential for success in this field.

What are some common challenges faced in mortgage loss mitigation roles?

Professionals in Mortgage Loss Mitigation often encounter the challenge of balancing the lender’s financial interests with borrowers’ needs to avoid foreclosure. This requires careful analysis of each unique case, staying updated on evolving regulations, and sometimes managing high volumes of distressed accounts. You’ll frequently collaborate with borrowers, underwriters, legal teams, and other departments to find sustainable resolutions. The job can be fast-paced and emotionally demanding, but it offers the opportunity to make a tangible difference for both families and financial institutions.

What are the key skills and qualifications needed to thrive in mortgage loss mitigation?

To thrive in Mortgage Loss Mitigation, you need a solid understanding of mortgage servicing, default management, and relevant financial regulations, often supported by a degree in finance, business, or a related field. Familiarity with loan servicing software, document management systems, and federal programs such as HAMP or FHA loss mitigation options is typically required. Excellent negotiation, problem-solving, and interpersonal communication skills help professionals excel when working with borrowers and cross-functional teams. These competencies are vital to effectively develop solutions that reduce losses for lenders while keeping borrowers in their homes.

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Mortgage Loss Mitigation jobs near you
Infographic showing various Mortgage Loss Mitigation job openings in the United States as of August 2026, with employment types broken down into 75% Full Time, 23% Part Time, 1% Temporary, and 1% Contract. Highlights an 94% Physical, 1% Hybrid, and 5% Remote job distribution, with an average salary of $49,422 per year, or $23.8 per hour.

Mortgage Loss Mitigation Team Lead

El Monte, CA • On-site

cathaybank
See more jobs at cathaybankexternal

$33.65 - $43.27/hr

Full-time

Re-posted 19 days ago

Job description

GENERAL SUMMARY

Responsible for daily foreclosure, bankruptcy and litigation activity, which includes working with bank attorneys, borrowers, and third parties.  Collection of residential mortgages, and Home Equity Lines of Credit minimizing potential losses on delinquent loans. In compliance with Fair Debt Collections Practices Act  (FDCPA) and other regulations, initiate outbound loss mitigation efforts to resolve delinquency or assist the borrower with options available to bring the account current.  Analyze customers' situations and collateral risks to present alternative solutions such as forbearance plans, repayment plans, payment deferrals, pre-foreclosure/short sales, and deed in lieu. Submission, tracking and reconciling of late-stage delinquent loans, including recommendation for foreclosure when appropriate. Provide technical and procedural support and direction to Mortgage Loss Mitigation team members.

ESSENTIAL FUNCTIONS

  • Manage late-stage delinquent loan inbound, outbound, and follow-up calls with borrowers to ensure quick and effective solutions are provided to each borrower.
  • Counsel and guide customers to achieve workout alternates based on their circumstances.
  • Comply with the FDCPA and other local and federal regulations.
  • Adhere to Cathay Bank’s policies and procedures.
  • Review Borrower Response Packages for assistance to determine if they are complete and perform pre-underwritten review of documents provided.
  • Contact delinquent borrowers to review approved loss mitigation options as well as preparation of letters for approval, missing documents, and notice of action taken.
  • Collaborate with the manager on recommended pre-foreclosure reviews as well as participate in monthly management meetings.
  • Prepare foreclosure files for set-up on the core collection system.
  • Provide attorney with accurate foreclosure figures, including reinstatement figures which will be provided to external parties by the attorney. In addition, provide the attorney with accurately executed documents as requested.
  • Responsible for bankruptcy filing reviews, preparing transmittals to attorneys, and servicing or further legal actions.
  • Assist with training new hires, as needed.
  • Assist in processing successor in interest, short sales, seed in lieu, or any other legal issues. 
  • Prepare monthly reporting, including delinquency, foreclosure, bankruptcy and other activities.
  • Assist in preparation of risk rating and accrual recommendations.
  • Provide assistance and guidance to Mortgage Loss Mitigation Team members.
  • Meet department standards as they relate to daily productivity metrics.
  • Performs additional projects and duties as assigned by management.


QUALIFICATIONS

  • Education: High school diploma or equivalent.  
  • 3-year experience in mortgage loss mitigation, foreclosure, and bankruptcy processing. 
  • Understanding of debt collections in any stage of delinquency.
  • Familiarity with financial statements, tax returns, credit reports, home appraisals, title searches and other documents used to evaluate a pre-foreclosure remedy.
  • Strong analytical, problem solving and mathematical skills.
  • Proficient in Microsoft Word, Outlook, Access and Excel with a minimum level of Intermediate.
  • Skills/Ability: Strong organizing and problem-solving skills; good written and verbal communication skills; must be able to adapt well in a fast-paced and constantly changing business environment; PC proficiency; demonstrated ability to work in a team-oriented environment and provide good customer service. Bilingual English/Chinese is a plus. 

OTHER DETAILS


$33.65 – $43.27 / hour 
Pay determined based on job-related knowledge, skills, experience, and location.
This position may be eligible for a discretionary bonus.

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