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Loss Mitigation Specialist Salary
in New York-Manhattan, New York

$55,135 (USD)

Average Salary


Average Hourly


Average Bonus

Salary Recap

The average pay for a Loss Mitigation Specialist is $55,135 a year and $27 an hour in New York-Manhattan, New York, United States. The average salary range for a Loss Mitigation Specialist is between $39,207 and $68,205. This compensation analysis is based on salary survey data collected directly from employers and anonymous employees in New York-Manhattan, New York.

Average Salary Chart

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Job Summary

  • Helps banks and mortgage companies save loans, and helps homeowners who are at risk for foreclosure, typically through loan modification, which is a lowering of interest rates and principal payments combined with an increase in payment terms, utilizing knowledge and skills in customer service, collections, verbal and written communication, and negotiations.
  • Examines and monitors loans in foreclosure and bankruptcy, and calls on mortgage holders who have defaulted on mortgage loans to discuss repayment options, payment plans, and other solutions in order to prevent foreclosure or bankruptcy.
  • Adheres to guidelines and requirements of organization and Federal government programs, determines if required loss mitigation actions were completed and documented correctly, and evaluates foreclosed loans to ensure they were processed correctly according to the same requirements.
Loss Mitigation Specialist Job Prevalence in New York-Manhattan, New York, United States

Job family: Business Operations Specialists, All Other

Job family population: 1,001,420

Estimated population of Loss Mitigation Specialist jobs: 138,546

Rate of error: 0.5%

Salary Potential

Estimated salary in 2024:
5 Year Change:
16 %


Education data not available for this job


Skills data not available for this job

Loss Mitigation Specialist Job Listings for New York-Manhattan, New York

KYC Exam Management & Framework Specialist
Apr 29
New York, United States
Business Information Services
Work effectively in varied situations and function in changing circumstances with a minimum of confusion or loss of productivity. Ability to work in a fast pace environment Experience Needed Minimum ...
Accounts Receivable Specialist
Apr 17
Pearl River, NY, USA
Brosnan Risk Consultants, LTD
We are looking for a skilled Accounts Receivable Specialist to join our team. The ideal Accounts ... and loss prevention officers. Brosnan Risk Consultants is an equal opportunity employer. We ...
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