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.
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.
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.