Loss Mitigation Specialist

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Full Time Regular Providence, RI, US

Salary Range: $63,489.00 To $85,710.00 Annually

RIHousing – Loss Mitigation Specialist
Salary - $63,489.00 - $85,710.00

We are seeking a dynamic professional to join our Loan Servicing Department as a Loss Mitigation Specialist. This role is responsible for managing all aspects of the loan workout process, from initial loss‑mitigation referral through file resolution and claim submission. The specialist collaborates closely with mortgage counseling agencies, internal counselors, mortgage insurers, realtors, and appraisers to ensure each workout file is handled efficiently and in accordance with program requirements.

This is a hybrid position based in Providence, Rhode Island, where you will be an integral part of our Loan Servicing
team. The role is designed for face-to-face collaboration and direct involvement in our office environment.

• Identify potential loss‑mitigation candidates within the delinquent loan portfolio and through referrals from counseling agencies.
• Conduct detailed file reviews and financial analyses to determine whether borrowers meet hardship guidelines established by mortgage investors, mortgage insurers, and/or RIHousing.
• Apply strong knowledge of industry Home Retention Guidelines (FHA, Fannie Mae, Freddie Mac, USDA, VA) and Home Disposition options, including short sales and deeds in lieu of foreclosure.
• Evaluate and document the financial benefit of proposed workout solutions for borrowers, third‑party negotiators, RIHousing, mortgage investors, and mortgage insurers.
• Prepare and submit loan workout recommendations for approval to the Loss Mitigation Supervisor, Division Director, and/or mortgage insurer.
• Monitor daily pipeline management reports to track activity and status of all pending workouts, using spreadsheets, databases, and mortgage‑servicing software.
• Oversee approved workout files from initial review through completion, including reinstatement, closing, or property transfer, and file final mortgage‑insurance claims when required.
• Communicate regularly with borrowers, realtors, attorneys, and professional negotiators, demonstrating strong communication and negotiation skills.
• Perform research and special projects as assigned.
• Make collection calls and complete related administrative tasks as needed.

• A strong understanding of loss‑mitigation concepts and the ability to assess borrower hardship with accuracy and fairness.
• Confidence working with complex financial information and making sound, well‑supported recommendations.
• Familiarity with mortgage‑servicing systems, pipeline tracking tools, and general office software.
• Clear, professional communication skills and the ability to negotiate effectively with borrowers and third‑party partners.
• Strong organizational habits and the ability to manage multiple files, deadlines, and reporting requirements simultaneously.
• A collaborative, solutions‑oriented approach and the flexibility to support related functions such as collections, research, and special projects.

• Minimum three years of experience in loss mitigation, with working knowledge of PMI, FHA, VA, USDA, GNMA, Freddie Mac, and Fannie Mae guidelines, including pre‑foreclosure sales, loan modifications, deeds‑in‑lieu, and forbearance plans.
• Knowledge of mortgage‑servicing software (preferably Black Knight).
• Excellent written and verbal communication skills.
• Strong analytical, problem‑solving, and organizational skills.
• Associate’s degree in business administration or a related field.

• Mission-Driven Organization
• Dedicated Workforce
• Parking Stipend
• Paid Time Off
• Retirement Options
• Flexible Work Hours
• Education Reimbursement
• Onsite Fitness Classes
• Winner of “Best Places to Work” 2016, 2018, 2019, 2021 – 2025
• Greater Providence Chamber of Commerce Worksite Health Award 2013 – 2025
• PBN's Healthiest Employers of RI 2025

RIHousing
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