Jobs Find List

Categories


Location

A Loss Mitigation Specialist's Job Description

Banks loan money to borrowers for a variety of reasons. Rather than loaning out of the kindness of their hearts, these banks loan so that they can make a profit off interest payments. Loss mitigation specialists work in banks and serve to help banks avoid financial loss as a result of delinquent accounts. Delinquent accounts are accounts in which the borrower does not seem likely to pay off debt. Banks often take proactive measures to avoid potential loss as a result of a borrower's inability to pay.

Function

Sometimes loss is inevitable for a bank. When it doesn't seem likely a borrower will pay off a debt, loss mitigation specialists try to reduce the amount of money that the bank loses, according to Mortgage News Daily. Whenever there is a delinquent account, the loss mitigation specialist performs all account adjustments and contacts clients about delinquencies. The loss mitigation specialist is responsible for collecting information related to past collections that the client has had, according to Volt.com. Some loss mitigation specialists help clients set up credit lines, mortgages and credit cards.

Conditions

Most of the loss mitigation specialist's time is spent within an office, which is usually a clean and comfortable setting. These specialists generally work 40 hours a week, according to the Bureau of Labor Statistics. When interest rates are low, however, loss mitigation specialists might have more work to do because there is usually an increase in loans.

Qualifications

The minimum educational requirement for the loss mitigation specialist is a high school diploma. All loss mitigation specialists must complete a background check. The loss mitigation specialist must be willing to take initiative in order to set a positive example for others. This specialist must also be able to notice when an account deviates from the norm. The loss mitigation specialist must be aware of all bank policies and all financial regulations related to loss mitigation and must stay up to date on changes regarding these regulations. Volt.com states the loss mitigation specialist must have experience working with computer software such as word processors and spreadsheets.

if (typeof index_headertag_lightspeed === "undefined") { setTimeout( function() { googletag.cmd.push(function() { googletag.display('640x120_ATF'); }); }, 500); };

Outlook

The need for loan officers such as loss mitigation specialists is expected to grow by 10 percent between 2008 and 2018, according to the Bureau of Labor Statistics. This growth is driven by economic expansion.

Earnings

The median salary for loan officers such as loss mitigation specialists was $54,700 in 2008, according to the Bureau of Labor Statistics. The highest 10 percent earned more than $106,360, while the lowest 10 percent earned less than $30,850.



Tips to Find a Job from Millions of Job Listings Online

The Best Jobs for Moms Returning to Work

Many women choose to stay home and raise their children when they start their family. Often these women, especially if they hold a college degree, feel that returning to the workforce later will be an easy transition. When the time comes, however, they discover that both their interests and the work ...

Write a Winning Proposal for Sales Consultant Job

Writing a winning proposal for a sales consultant's job should come naturally to you. After all, you're applying for a position that requires selling ability, and this is your chance to show what you can do. The person receiving your letter wants to be sold and will be expecting you to touch on all ...

Write a Cover Letter for a Secretarial Job

All successful businesses need skilled and trained administrative assistants. Their abilities to complete important day-to-day tasks ensure the effectiveness of a business. When looking for a secretarial job, a good resume outlining your skills and a cover letter that gets you noticed are vital. If ...

Apprentice Electrician Job Description

An apprentice electrician is someone who assists electricians with the idea of becoming an electrician himself. Apprentices help with installation, repairs and maintenance of electrical systems of businesses and residences. He performs duties such as wiring outlets, connecting circuits and breakers, ...

Interview Tips for a Dispatcher Job

A dispatcher is at the heart of an organization's traffic flow and distribution operation. The job might be with a company or government. The dispatcher coordinates driver activity whether the organization provides a service or a product and must maintain the flow of the service or product. For comp ...

Refinance a Mortgage Without a Job

Banks are not always willing to provide refinancing to people without a stable source of income, due to lending responsibility requirements. It's possible to circumvent income requirements by showing that you have significant assets that you can use to pay a refinanced mortgage. If you have access t ...

Types of Investing Jobs

The desired outcome of investing is to achieve a profit, or gain back more capital than you originally put in to a property, share or financial scheme. Careers in the field of investing are largely oriented around investment banks, which are banks that buy large quantities of newly issued shares or ...

Job Description of a Health Inspector

A health inspector is responsible for ensuring that working environments are safe and secure for the workers, environment, property and general public. The health inspector gets this assurance by testing the air quality, inspecting machinery or equipment and helping businesses design safe working sp ...

A Technical Analyst's Job Description

If you are looking for a job as a technical analyst--according to the traditional definition of the title before the advent of the Internet and computers--then you are looking for a job in the financial sector, and you will most likely need to have experience in finance, accounting, and business. A ...

Animal Curator Job Description

While general curators at a zoo or aquarium manage the animals and associated staff, animal curators are responsible for a group of animals in the collection, such as fish, birds or mammals. They may manage the scheduling of animal keepers, record work orders in their department, handle safety issue ...

Operations Associate Job Description

Operations associates handle clerical and office duties for a company's top executive, whether chief executive officer (CEO), chief operations officer (COO) or company president. In other words, operations associates work for people who make the majority of important decisions for their ...

Fun and Rewarding Jobs for Women

Women now have many lucrative fields open to them that their grandmothers could only dream about. "From a condition of almost pauperism they were placed above want. They could earn money and spend it as they pleased." This describes the experience of women in the Lowell textile mills in M ...

High Paying Careers in Agriculture

Agriculture is a multibillion dollar industry that employed 1.8 million people in 2008, according to the U.S. Department of Agriculture. Agricultural industries include the wholesale and retail trade of agricultural goods, and production and processing. Many well-paid jobs provide services that sup ...

List of Careers in Design

Designers can work in a variety of industries, such as fashion, publishing or construction. Although different types of designers use different mediums, each must consider the needs of their clients or customers to create a product which is both attractive and functional.Interior Design Interior de ...

Stop an Unemployment Claim

If you find a job before your unemployment claim goes through, you may want to stop the claim to prevent the benefit year from starting. If you are already receiving unemployment and have found work, you are required to stop your unemployment claim once you begin working. Regardless of the reason wh ...