Working as a Loss Mitigation Specialist

There is more than meets the eye when it comes to being a loss mitigation specialist. For example, did you know that they make an average of $18.42 an hour? That's $38,318 a year!

Between 2018 and 2028, the career is expected to grow -8% and produce -19,400 job opportunities across the U.S.

What Does a Loss Mitigation Specialist Do

There are certain skills that many loss mitigation specialists have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed math skills, communication skills and listening skills.

When it comes to the most important skills required to be a loss mitigation specialist, we found that a lot of resumes listed 9.7% of loss mitigation specialists included foreclosure, while 8.4% of resumes included loan modifications, and 7.5% of resumes included loss mitigation. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.

When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the loss mitigation specialist job title. But what industry to start with? Most loss mitigation specialists actually find jobs in the finance and health care industries.

How To Become a Loss Mitigation Specialist

If you're interested in becoming a loss mitigation specialist, one of the first things to consider is how much education you need. We've determined that 37.0% of loss mitigation specialists have a bachelor's degree. In terms of higher education levels, we found that 9.4% of loss mitigation specialists have master's degrees. Even though some loss mitigation specialists have a college degree, it's possible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a loss mitigation specialist. When we researched the most common majors for a loss mitigation specialist, we found that they most commonly earn bachelor's degree degrees or high school diploma degrees. Other degrees that we often see on loss mitigation specialist resumes include associate degree degrees or master's degree degrees.

You may find that experience in other jobs will help you become a loss mitigation specialist. In fact, many loss mitigation specialist jobs require experience in a role such as customer service representative. Meanwhile, many loss mitigation specialists also have previous career experience in roles such as collector or loan officer.

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Average Salary$38,318
Job Growth Rate-8%

Loss Mitigation Specialist Jobs

Loss Mitigation Specialist Career Paths

Top Careers Before Loss Mitigation Specialist
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Tell us your goals and we'll match you with the rights job to get there.

Average Salary for a Loss Mitigation Specialist

Loss Mitigation Specialists in America make an average salary of $38,318 per year or $18 per hour. The top 10 percent makes over $47,000 per year, while the bottom 10 percent under $30,000 per year.
Average Salary
$38,318

Recently Added Salaries

Job TitleCompanyCompanyStart DateSalary
Loss Mitigation Specialist
Loss Mitigation Specialist
Robert Half
Robert Half
07/22/2020
07/22/2020
$28,69607/22/2020
$28,696
Loss Mitigation Specialist
Loss Mitigation Specialist
Randstad
Randstad
06/16/2020
06/16/2020
$41,74006/16/2020
$41,740
Loss Mitigation Specialist 412
Loss Mitigation Specialist 412
Adecco Staffing
Adecco Staffing
06/15/2020
06/15/2020
$31,30506/15/2020
$31,305
Loss Mitigation Specialist
Loss Mitigation Specialist
Randstad
Randstad
06/09/2020
06/09/2020
$38,48006/09/2020
$38,480
Loss Mitigation Specialist
Loss Mitigation Specialist
Robert Half
Robert Half
05/14/2020
05/14/2020
$30,26205/14/2020
$30,262

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Loss Mitigation Specialist Demographics

Gender

Female

58.5 %

Male

37.2 %

Unknown

4.3 %
Ethnicity

White

58.3 %

Hispanic or Latino

18.9 %

Black or African American

12.9 %
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Foreign Languages Spoken

Spanish

86.6 %

French

3.2 %

Portuguese

1.9 %
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Loss Mitigation Specialist Education

Schools

Strayer University

10.3 %

University of North Texas

9.0 %

University of Texas at Arlington

6.5 %

Central Piedmont Community College

6.2 %
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Majors

Business

38.2 %

Accounting

6.9 %

Finance

6.0 %

Criminal Justice

5.2 %
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Degrees

Bachelors

37.0 %

High School Diploma

23.4 %

Associate

17.9 %

Masters

9.4 %
Show More

Entry Level Jobs For Becoming A Loss Mitigation Specialist

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Full Time
Part Time
Internship
Temporary

Top Skills For a Loss Mitigation Specialist

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 9.7% of loss mitigation specialists listed foreclosure on their resume, but soft skills such as math skills and communication skills are important as well.

Loss Mitigation Specialist Resumes

Designing and figuring out what to include on your resume can be tough, not to mention time-consuming. That's why we put together a guide that is designed to help you craft the perfect resume for becoming a loss mitigation specialist. If you're needing extra inspiration, take a look through our selection of templates that are specific to your job.

At Zippia, we went through countless loss mitigation specialist resumes and compiled some information about how best to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

Learn How To Write a Loss Mitigation Specialist Resume

At Zippia, we went through countless loss mitigation specialist resumes and compiled some information about how best to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

View Detailed Information

How Do Loss Mitigation Specialist Rate Their Jobs?

Zippia Official Logo

5.0

LostJuly 2019

5.0

Zippia Official LogoLostJuly 2019

What do you like the most about working as Loss Mitigation Specialist?

I enjoy over 31 years helping people to save there homes and pay there debt. I give options and remind them monthly when the payment is due. I have contact to help them and help the company I work for. Dealt with foreclose 31 years and help many customers. And the company in work for. Made customer comfortable to continue to pay there debt many miss informed. This job mad me feel good to help them and the company make it through. Being a lost mitigation specialist is difficult to reach out to the people I made it happen. Know my company sold out and I'm out of working at home. Please help me!! Show More

What do you NOT like?

I have nothing I did not like I enjoy my job and sad that I can't continue to collect. The company sold out. Show More

What do you like the most about working as Loss Mitigation Specialist?

I enjoy reach out to the customer and helping them keep there home. Offer options that were not offer before. Letting them know that I am willing to work with them and have open communication that the debt need to be made. Show More

What do you NOT like?

There is. Nothing I dont like! Show More

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Top Loss Mitigation Specialist Employers

1. Citi
4.9
Avg. Salary: 
$73,912
Loss Mitigation Specialists Hired: 
633+
2. JPMorgan Chase
4.9
Avg. Salary: 
$75,304
Loss Mitigation Specialists Hired: 
442+
3. Bank of America
4.8
Avg. Salary: 
$56,114
Loss Mitigation Specialists Hired: 
239+
4. Wells Fargo
4.8
Avg. Salary: 
$42,050
Loss Mitigation Specialists Hired: 
238+
5. U.S. Bank
4.8
Avg. Salary: 
$43,726
Loss Mitigation Specialists Hired: 
128+
6. Ally Financial
4.9
Avg. Salary: 
$58,559
Loss Mitigation Specialists Hired: 
105+

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Recently Added Loss Mitigation Specialist Jobs

Updated October 2, 2020