Loss Mitigation Manager Jobs
Loss Mitigation Manager jobs are open across mortgage servicers, banks, credit unions, and consumer finance companies, at every level from lead analyst to director, with specializations in default servicing, loan modifications, and foreclosure prevention. See the openings below and apply to the ones that match your experience.
Find Loss Mitigation Manager JobsOverview
Showing 5 of 10+ Loss Mitigation Manager jobs
The Special Assets Department is a vital part of the Bank’s daily operations. As a Retail Loss Mitigation Specialist, you will engage with borrowers to work towards a resolution of debt repayment. Use a consultative approach to offer alternate courses of action and/or methods of recovery acceptable under terms of loan contracts. Perform assignments and special projects necessary to support the collection and recovery efforts on past-due accounts. Initiate contact with clients via telephone, letter, and other forms of communication as needed. You must take detail notes and enter system codes in the Collection System of all actions taken. Mentors and coaches other Borrower Assistant Representatives on best practices and techniques.
Essential Job Responsibilities__________________________________
1. Performs tasks necessary to support the collection and recovery efforts on past-due consumer loans, Direct Installment Loans, Indirect Installment, Charge Cards, Mortgages, HEL, and Personal Credit Lines accounts.
2. Uses Collection System to determine priority of assigned delinquent loans and works to maintain a satisfactory percentage of past-due accounts.
3. Locates and contacts delinquent borrowers to secure payments and bring accounts to current status; tactfully probes for information leading to the location of the client and collateral, if appropriate.
4. Initiates contact with clients via telephone, letter, and other forms of communication as needed and enters detailed notes and system codes in the Collection System of all actions taken.
5. Establishes and maintains records relating to delinquent loan accounts and updates files to indicate the date(s) payment(s) received.
6. Evaluates clients’ financial strength and capacity to repay outstanding debt.
7. Works with borrowers toward resolution, offers alternate courses of action and/or uses methods of recovery acceptable under terms of loan contracts.
8. Reviews bank records and transactions to resolve misapplied payments, researches to ensure payments are properly credited, evaluates regular and irregular payments to determine how to apply, i.e., principal, interest, escrow, and/or late fees.
9. Contributes to the bank’s growth and customer satisfaction by helping customers resolve problems with their banking transactions.
10. Inform clients of amount due, disposition of assets, and any further obligation.
11. Works with Department Manager prior to charge-off, making specific recommendations, in order to develop a plan to minimize loan loss, which could include reduced future payments.
12. Maintains a current knowledge of regulations affecting the recovery function, such as Fair Debt Collection Practices Act, as well as bank products and their benefits.
13. Mentors and coaches other Borrower Assistant Representatives on best practices and techniques.
14. Provides guidance and acts as a resource to other Collections team members.
Bona Fide Occupational Qualifications___________________________
1. High School diploma or equivalent required.
2. A minimum of five (5) years of collections experience is required.
3. Strong communication, interpersonal, computer, analytical, and mathematical skills required.
4. Must possess and maintain a current knowledge of resource recovery laws and regulations, such as Fair Debt Collection Practices Act.
5. Ability to wear hands-free telephone headset.
6. May be eligible for Telecommuting.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights (https://www.eeoc.gov/poster) notice from the Department of Labor.
The Special Assets Department is a vital part of the Bank’s daily operations. As a Retail Loss Mitigation Specialist, you will engage with borrowers to work towards a resolution of debt repayment. Use a consultative approach to offer alternate courses of action and/or methods of recovery acceptable under terms of loan contracts. Perform assignments and special projects necessary to support the collection and recovery efforts on past-due accounts. Initiate contact with clients via telephone, letter, and other forms of communication as needed. You must take detail notes and enter system codes in the Collection System of all actions taken. Mentors and coaches other Borrower Assistant Representatives on best practices and techniques.
Essential Job Responsibilities__________________________________
1. Performs tasks necessary to support the collection and recovery efforts on past-due consumer loans, Direct Installment Loans, Indirect Installment, Charge Cards, Mortgages, HEL, and Personal Credit Lines accounts.
2. Uses Collection System to determine priority of assigned delinquent loans and works to maintain a satisfactory percentage of past-due accounts.
3. Locates and contacts delinquent borrowers to secure payments and bring accounts to current status; tactfully probes for information leading to the location of the client and collateral, if appropriate.
4. Initiates contact with clients via telephone, letter, and other forms of communication as needed and enters detailed notes and system codes in the Collection System of all actions taken.
5. Establishes and maintains records relating to delinquent loan accounts and updates files to indicate the date(s) payment(s) received.
6. Evaluates clients’ financial strength and capacity to repay outstanding debt.
7. Works with borrowers toward resolution, offers alternate courses of action and/or uses methods of recovery acceptable under terms of loan contracts.
8. Reviews bank records and transactions to resolve misapplied payments, researches to ensure payments are properly credited, evaluates regular and irregular payments to determine how to apply, i.e., principal, interest, escrow, and/or late fees.
9. Contributes to the bank’s growth and customer satisfaction by helping customers resolve problems with their banking transactions.
10. Inform clients of amount due, disposition of assets, and any further obligation.
11. Works with Department Manager prior to charge-off, making specific recommendations, in order to develop a plan to minimize loan loss, which could include reduced future payments.
12. Maintains a current knowledge of regulations affecting the recovery function, such as Fair Debt Collection Practices Act, as well as bank products and their benefits.
13. Mentors and coaches other Borrower Assistant Representatives on best practices and techniques.
14. Provides guidance and acts as a resource to other Collections team members.
Bona Fide Occupational Qualifications___________________________
1. High School diploma or equivalent required.
2. A minimum of five (5) years of collections experience is required.
3. Strong communication, interpersonal, computer, analytical, and mathematical skills required.
4. Must possess and maintain a current knowledge of resource recovery laws and regulations, such as Fair Debt Collection Practices Act.
5. Ability to wear hands-free telephone headset.
6. May be eligible for Telecommuting.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights (https://www.eeoc.gov/poster) notice from the Department of Labor.
See All 10 Loss Mitigation Manager Jobs
Find roles that match your experience and apply in just a few clicks.
Find Loss Mitigation Manager JobsLoss Mitigation Manager Job Market
Who's Hiring
What Employers Look For
The qualifications that appear most often in loss mitigation manager jobs.
- Three or more years of experience in mortgage default servicing or loss mitigation
- Working knowledge of GSE, FHA, VA, and USDA loss mitigation guidelines and investor requirements
- Experience managing or leading a team of loss mitigation specialists or analysts
- Familiarity with loan servicing platforms such as MSP, Black Knight, or comparable systems
- Understanding of CFPB mortgage servicing rules and applicable federal and state regulations
- Bachelor's degree in finance, business, or a related field or equivalent professional experience
Tips for Your Loss Mitigation Manager Job Search
Quantify default portfolio outcomes on your resume
Hiring managers want to see the size of the delinquent portfolios you managed and the results you drove, such as cure rates, modification approval rates, or foreclosure reduction. Generic descriptions of duties won't stand out the way hard outcomes do.
Highlight regulatory and investor guideline expertise
Loss mitigation postings almost always require familiarity with GSE guidelines, FHA or VA loss mitigation options, and CFPB servicing rules. Call those out explicitly in your resume's skills section and weave them into your work history bullets.
Apply early to roles that fit
Migrate Mate lists loss mitigation manager openings from across the United States in one place, so you can find roles that match your background and apply directly to each listing without sorting through unrelated results.
Target postings by servicer size and loan type
A role at a large mortgage servicer handling high-volume residential defaults requires a different pitch than one at a community bank managing commercial workouts. Tailor your resume to match the loan type and volume in each posting you apply to.
Prepare case studies for the interview panel
Expect interviewers to present a delinquency scenario and ask how you'd work through it. Walk through your decision logic for investor reporting, timeline compliance, and borrower outreach. Practicing this out loud before the interview sharpens your delivery significantly.
Negotiate using total compensation, not base only
Loss mitigation manager offers often include performance bonuses tied to portfolio cure metrics. When you receive an offer, ask for the full compensation structure so you can compare roles accurately and make a case for adjustments grounded in your results.
Loss Mitigation Manager Jobs: Frequently Asked Questions
Which companies are hiring the most loss mitigation managers?
Citizens, Selene Finance, and Royal Plus are hiring the most loss mitigation managers right now, with openings concentrated in Texas, Ohio, and Nevada, based on current listings on Migrate Mate as of November 2026. Volume tends to track with mortgage delinquency trends, so hiring activity can shift quickly across servicers.
How many loss mitigation manager jobs are remote?
About 50% of loss mitigation manager openings are fully remote or hybrid as of November 2026, with remote arrangements most common in roles focused on case review, borrower outreach, and policy compliance rather than those requiring direct team supervision in a servicing operations center.
How do you become a loss mitigation manager?
Most loss mitigation managers start in default servicing roles such as collections, foreclosure processing, or loan modification coordination, then move into senior specialist or team lead positions. Building fluency with GSE and government loan workout options, earning familiarity with servicing platforms, and demonstrating consistent portfolio performance are the clearest paths to a manager-level role.
Can you get hired as a loss mitigation manager with little experience?
Breaking in with limited experience is realistic if you have a background in related areas such as mortgage underwriting, collections, or customer-facing loan servicing. Emphasizing any exposure to default timelines, investor reporting, or regulatory compliance helps. Some employers also hire candidates with strong financial analysis backgrounds and train them on loss mitigation-specific processes internally.
What does the loss mitigation manager interview process look like?
Most processes include an initial screening call focused on your default servicing background, followed by a panel or hiring manager interview that presents delinquency scenarios to assess your decision-making on workout options and investor compliance. Some employers add a written exercise involving a mock portfolio review or policy interpretation, and final rounds often involve senior operations or risk leadership.
Where can I find and apply to loss mitigation manager jobs?
You can find and apply to loss mitigation manager jobs on Migrate Mate, which lists current openings from across the United States. Search the listings to find roles that match your background and apply directly to each one that fits your experience and target location.
See All 10 Loss Mitigation Manager Jobs
Find roles that match your experience and apply in just a few clicks.
Find Loss Mitigation Manager Jobs