Loss Mitigation Specialist

Servicing Default | Plano, Texas


Position at loanDepot

loanDepot, America's lender, matches borrowers through technology and high-touch customer care with the credit they need to fuel their lives.  We take the responsibility of being the second largest non-bank lender seriously.  loanDepot’s long term commitment begins at origination continuing with long term support through our in house servicing teams. Our loanDepot servicing division puts our customers first, promotes teamwork & provides our employees with the fuel needed to succeed in their careers. Come join us!

loanDepot — We are America’s Lender.

Position Summary:  

Responsible for managing a portfolio of current to severely delinquent accounts where a borrower has requested loss mitigation assistance. Analyzes and understands credit bureau reports, tax returns, financial statements, pay stubs, bank statements, and other supporting documentation to verify borrower(s) financial situation and determines the best foreclosure alternative. In addition, identifies the best foreclosure alternative solution by following FHA, VA, USDA, FNMA, FHLMC waterfall guidelines and arranging Repayments plans, Loan Modifications, Pre-Foreclosure Sales, and Mortgage Release. Demonstrates full understanding of all FHA, VA, USDA, FNMA, FHLMC loss mitigation retention and disposition guidelines in order to effectively mitigate loss for investor and company. Demonstrates a strong understanding of all FHA, VA, USDA, FNMA, FHLMC income & expense calculation guidelines and requirements. 


  • Underwrites loans for loss mitigation in accordance to FHA, VA, USDA, FNMA, FHLMC guidelines and decisions all loss mitigation waterfall options for borrower(s) seeking workout assistance.  
  • Recommends loss mitigation actions on requests for proposed foreclosure alternatives within timeframes established by investor.  
  • Independently maintains a portfolio size of 100+ loans by meeting all investor, departmental and company guidelines.  
  • Works directly with Borrower Advocate team on loss mitigation follow up’s, approval or denials.  
  • Demonstrates thorough understanding of credit risk and ability to review financial documents.  
  • Utilizes ability to read and interpret title searches and rectify outstanding judgements, liens, etc.  
  • Maintains quality control and production standards defined by loanDepot.  
  • Performs other duties and projects as assigned.   


  • Loss Mitigation Underwriting experience required.
  • High School Degree or equivalent required and a minimum of three (3) + years’ experience working in a similar field required 
  • Bachelor’s Degree preferred, or minimum of three (3) + years’ experience working in a similar field preferred.  

Why work for #teamloanDepot:

  • Aggressive earning potential and 401K with robust company match           
  • Inclusive, diverse and collaborative culture where people from all backgrounds can thrive
  • Work with other passionate, purposeful and customer-centric people
  • Extensive internal growth and professional development opportunities including tuition reimbursement
  • Comprehensive benefits package including Medical/Dental/Vision
  • Wellness program to support both mental and physical health
  • Generous paid time off for both exempt and non-exempt positions

We are an equal opportunity employer and value diversity in our company. We do not discriminate based on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.