How much does a Loan Workout Officer I make in the United States? The average Loan Workout Officer I salary in the United States is $72,415 as of October 01, 2024, but the range typically falls between $64,624 and $85,519. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target. 

Loan Workout Officer I Salaries by Percentile
Percentile Salary Location Last Updated
10th Percentile Loan Workout Officer I Salary $57,531 US October 01, 2024
25th Percentile Loan Workout Officer I Salary $64,624 US October 01, 2024
50th Percentile Loan Workout Officer I Salary $72,415 US October 01, 2024
75th Percentile Loan Workout Officer I Salary $85,519 US October 01, 2024
90th Percentile Loan Workout Officer I Salary $97,449 US October 01, 2024
25% $64,624 10% $57,531 90% $97,449 75% $85,519 $72,415 50%(Median) Didn’t find job title? Click
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MORTGAGE LOAN OFFICER

Spectra Credit Union - Alexandria, VA

Loan Officer

Caliver Beach Mortgage, LLC - Richmond, VA

Mortgage Loan Officer

Coldwell Banker Premier - Virginia Beach, VA

Mortgage Loan Officer

Coldwell Banker Premier - Front Royal, VA

What skills does a Loan Workout Officer I need?

Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.

1.

Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.

2.

Economics: Economics is a social science that focuses on the production, distribution, and consumption of goods and services, and analyzes the choices that individuals, businesses, governments, and nations make to allocate resources.

3.

Law Enforcement: Law enforcement is any system by which some members of society act in an organized manner to enforce the law by discovering, deterring, rehabilitating, or punishing people who violate the rules and norms governing that society. Although the term encompasses entities such as courts and prisons, it is most frequently applied to those who directly engage in patrols or surveillance to dissuade and discover criminal activity, and those who investigate crimes and apprehend offenders, a task typically carried out by the police or another law enforcement organization. Furthermore, although law enforcement may be most concerned with the prevention and punishment of crimes, organizations exist to discourage a wide variety of non-criminal violations of rules and norms, effected through the imposition of less severe consequences.

Analysis 6.93%
Economics 2.97%
Law Enforcement 1.98%
Others 88.12%
What skills can make your compensation higher?
Mastering certain skills can make the compensation of a Loan Workout Officer I higher. Salary.com's Real-time Job Posting Salary Data provides you the latest highly compensated skills to help you get a higher pay. For example, if you master Accounting, you can get a 11% salary raise. If you are good at Commercial Loans, your salary will increase by 11%.
Skill Salary Demand
Accounting
$80,381
11%
Commercial Loans
$80,381
11%
Commercial Loans
$80,381
11%
Commercial Loans
$80,381
11%
Commercial Loans
$80,381
11%
Last Updated on October 01, 2024
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Job Description for Loan Workout Officer I

Loan Workout Officer I restructures loans; works with lending personnel and borrowers to better secure collateral and/or assets of the borrower. Works with small- and mid-size loans of little to medium complexity. Being a Loan Workout Officer I typically requires a bachelor's degree. Typically reports to a manager or head of a unit/department. The Loan Workout Officer I works on projects/matters of limited complexity in a support role. Work is closely managed. To be a Loan Workout Officer I typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)... View full job description

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Job Openings for Loan Workout Officer I
  • About the team. Zillow Home Loans is on the front lines of radically redefining how consumers buy, sell, and finance homes. We seek to transform the consum...
    - 3 Days Ago
  • About the team. Zillow Home Loans is on the front lines of radically redefining how consumers buy, sell, and finance homes. We seek to transform the consum...
    - 3 Days Ago
  • About the team. Zillow Home Loans is on the front lines of radically redefining how consumers buy, sell, and finance homes. We seek to transform the consum...
    - 3 Days Ago
  • About the team. Zillow Home Loans is on the front lines of radically redefining how consumers buy, sell, and finance homes. We seek to transform the consum...
    - 3 Days Ago
  • Description. Cardinal is a not-for-profit financial cooperative owned by its members. This means that as a credit union member, you are never a customer, b...
    - 6 Days Ago

Career Path for Loan Workout Officer I

A career path is a sequence of jobs that leads to your short- and long-term career goals. Some follow a linear career path within one field, while others change fields periodically to achieve career or personal goals.

For Loan Workout Officer I, the first career path typically starts with a Commercial Loan Workout Officer II position, and then progresses to Commercial Loan Workout Officer IV.

Additionally, the second career path typically starts with a Loan Workout Officer II position, and then progresses to Banking & Commercial Loan Workout Manager.

Those that have already made the climb...
Karri R. Callahan, Chief Financial Officer
RE/MAX Holdings, Inc. operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. It operates through Real Estate, Mortgage, and Marketing Funds segments. The company offers real estate brokerage franchising services under the RE/MAX brand; mortgage brokera... More
Fiscal Year Ended in 2023
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Loan Workout Officer I salary varies from city to city. Compared with national average salary of Loan Workout Officer I, the highest Loan Workout Officer I salary is in San Francisco, CA, where the Loan Workout Officer I salary is 25.0% above. The lowest Loan Workout Officer I salary is in Miami, FL, where the Loan Workout Officer I salary is 3.5% lower than national average salary.

City, State Compared to national average
City, State San Francisco, CA Compared to national average
+ 25.0%
City, State Washington, DC Compared to national average
+ 11.3%
City, State Miami, FL Compared to national average
-3.5%
City, State Chicago, IL Compared to national average
+ 4.9%
City, State Boston, MA Compared to national average
+ 12.1%
City, State New York, NY Compared to national average
+ 16.8%
City, State Dallas, TX Compared to national average
-1.3%

Take just three simple steps below to generate your own personalized salary report

Step 1 of 3

Understand the total compensation opportunity for a Loan Workout Officer I, base salary plus other pay elements

Average Base Salary

Core compensation

 
 
 
64624
85519
72415

Average Total Cash Compensation

Includes base and annual incentives

 
 
 
66796
94231
76803
These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Loan Workout Officer I in the United States. The base salary for Loan Workout Officer I ranges from $64,624 to $85,519 with the average base salary of $72,415. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $66,796 to $94,231 with the average total cash compensation of $76,803.
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64624
85519

 

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Skills associated with Loan Workout Officer I: Debt Restructuring, Loan Software, Banking Software, Loss Mitigation ...More

Salary estimation for Loan Workout Officer I at companies like : Westvale School - 2300 West, Valencia College Orlando, Financial Natural Resources Ltd

Loan Workout Officer I Salary in United States
Loan Workout Officer I Salary Graph, Regional Distribution and Summary