As of April 01, 2025, the average annual salary for a Mortgage Collection Manager in Elgin, IL is $89,330. Salary.com reports that pay typically ranges from $80,803 to $102,339, with most professionals earning between $73,040 and $114,184.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $102,339 | $8,528 | $1,968 | $49 |
| Average | $89,330 | $7,444 | $1,718 | $43 |
| 25th Percentile | $80,803 | $6,734 | $1,554 | $39 |
An entry-level Mortgage Collection Manager with under 1 year experience makes about $86,148. With less than 2 years of experience, a mid-level Mortgage Collection Manager makes around $86,530. After 2-4 years, the Mortgage Collection Manager pay rises to about $87,421. Those senior Mortgage Collection Manager with 5-8 years of experience earn roughly $88,439, and those Mortgage Collection Manager having 8 years or more experience are expected to earn about $89,718 on average.
| Levels | Salary |
|---|---|
| Entry Level Mortgage Collection Manager | $86,148 |
| Intermediate Level Mortgage Collection Manager | $86,530 |
| Senior Level Mortgage Collection Manager | $87,421 |
| Specialist Level Mortgage Collection Manager | $88,439 |
| Expert Level Mortgage Collection Manager | $89,718 |
| Entry Level | 2% |
| Mid Level | 2% |
| Senior Level | 1% |
| Top Level | 1% |
| Experienced | 2% |
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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.
Customer Support: Customer support is a range of customer services to assist customers in making cost effective and correct use of a product. It includes assistance in planning, installation, training, troubleshooting, maintenance, upgrading, and disposal of a product. Regarding technology products such as mobile phones, televisions, computers, software products or other electronic or mechanical goods, it is termed technical support. Customer support is considered as one of the main data channels for customer satisfaction research and a way to increase customer retention.
Loss Mitigation: Loss mitigation is used to describe a third party helping a homeowner, a division within a bank that mitigates the loss of the bank, or a firm that handles the process of negotiation between a homeowner and the homeowner's lender. Loss mitigation works to negotiate mortgage terms for the homeowner that will prevent foreclosure. These new terms are typically obtained through loan modification, short sale negotiation, short refinance negotiation, deed in lieu of foreclosure, cash-for-keys negotiation, a partial claim loan, repayment plan, forbearance, or other loan work-out. All of the options serve the same purpose, to stabilize the risk of loss the lender (investor) is in danger of realizing../
| Skill | Salary | Demand |
|---|---|---|
|
Vendor Relationships
|
$115,235 |
29%
|
|
Loss Mitigation
|
$90,223 |
1%
|
|
Loss Mitigation
|
$90,223 |
1%
|
|
Loss Mitigation
|
$90,223 |
1%
|
|
Loss Mitigation
|
$90,223 |
1%
|
