Loss mitigation specialist vs negotiator

The differences between loss mitigation specialists and negotiators can be seen in a few details. Each job has different responsibilities and duties. Additionally, a negotiator has an average salary of $63,632, which is higher than the $43,251 average annual salary of a loss mitigation specialist.

The top three skills for a loss mitigation specialist include customer service, loan modifications and foreclosure process. The most important skills for a negotiator are financial statements, powerpoint, and nielsen.

Loss mitigation specialist vs negotiator overview

	Loss Mitigation Specialist	Negotiator
Yearly salary	$43,251	$63,632
Hourly rate	$20.79	$30.59
Growth rate	-8%	5%
Number of jobs	7,596	8,748
Job satisfaction	3.67	-
Most common degree	Bachelor's Degree, 51%	Bachelor's Degree, 64%
Average age	46	44
Years of experience	12	-

What does a loss mitigation specialist do?

A loss mitigation specialist is responsible for evaluating outstanding debts, assisting the mortgage owner on minimizing losses by reviewing potential risks before settling a mutual agreement for the debtor and the bank. Loss mitigation specialists analyze financial documents and account statements, determining the property value, and assess the debtor's credit ratings. They also negotiate on payment plans, ensuring that the debtor understands the terms and conditions to prevent further financial damage. A loss mitigation specialist must have excellent knowledge of the financial industry, including banking products and services.

What does a negotiator do?

A Negotiator is primarily in charge of communicating with clients and business partners to negotiate and establish sales, building positive relationships in the process. They typically perform market research and analysis to develop plans and sales pitches, coordinate with the company's legal team, arrange appointments with clients to discuss contract terms, and address issues and concerns, resolving them promptly and efficiently. Moreover, a negotiator maintains an active communication line with staff, regularly reporting to managers for a smooth and efficient workflow.

Loss mitigation specialist vs negotiator salary

Loss mitigation specialists and negotiators have different pay scales, as shown below.

	Loss Mitigation Specialist	Negotiator
Average salary	$43,251	$63,632
Salary range	Between $34,000 And $54,000	Between $35,000 And $114,000
Highest paying City	Virginia Beach, VA	Islip, NY
Highest paying state	Maryland	New York
Best paying company	Accenture	Bloomberg
Best paying industry	Professional	Media

Differences between loss mitigation specialist and negotiator education

There are a few differences between a loss mitigation specialist and a negotiator in terms of educational background:

	Loss Mitigation Specialist	Negotiator
Most common degree	Bachelor's Degree, 51%	Bachelor's Degree, 64%
Most common major	Business	Business
Most common college	-	-

Loss mitigation specialist vs negotiator demographics

Here are the differences between loss mitigation specialists' and negotiators' demographics:

	Loss Mitigation Specialist	Negotiator
Average age	46	44
Gender ratio	Male, 40.4% Female, 59.6%	Male, 47.4% Female, 52.6%
Race ratio	Black or African American, 13.9% Unknown, 3.9% Hispanic or Latino, 20.7% Asian, 3.4% White, 57.6% American Indian and Alaska Native, 0.5%	Black or African American, 6.4% Unknown, 4.6% Hispanic or Latino, 9.4% Asian, 8.8% White, 70.4% American Indian and Alaska Native, 0.4%
LGBT Percentage	8%	11%

Differences between loss mitigation specialist and negotiator duties and responsibilities

Loss mitigation specialist example responsibilities.

Manage internal team SharePoint and document repository.
Document accurate loss mitigation reviews and foreclosure details via MSP.
Submit Medicare claims through DDE.
Deal with Nielsen and Rentrak to monitor advertiser ad ratings
Check accounts for accuracy according to Medicare HMO guidelines.
Resolve customer disputes and prepare adjustments to A/R when necessary.

Negotiator example responsibilities.

Manage the sales per FHLMC guidelines to ensure the integrity of each sale.
Identify and select Medicaid manage care providers for contracting opportunities.
Manage expectations of DCMA / DCAA regulators and when necessary defend evaluated/negotiated positions.
Provide assistance with escrow questions pertaining to taxes and insurance.
Prepare and submit reports as required by the IDIQ contracts.
Initiate initial mortgage insurance claims on cases that are covered by PMI.

Loss mitigation specialist vs negotiator skills

Common loss mitigation specialist skills

Customer Service, 13%
Loan Modifications, 9%
Foreclosure Process, 8%
Inbound Calls, 5%
Loss Mitigation Options, 4%
Payment Arrangements, 3%

Common negotiator skills

Financial Statements, 11%
PowerPoint, 10%
Nielsen, 7%
Loan Modifications, 7%
Foreclosure, 6%
Strategic Sourcing, 4%

Loss Mitigation Specialist vs. similar jobs

Loss Mitigation Specialist related careers

Loss Mitigation Specialist related jobs

What similar roles do

Zippia Careers
Office and Administrative Industry
Loss Mitigation Specialist
Loss Mitigation Specialist vs Negotiator

Updated January 8, 2025

Browse office and administrative jobs