Asset recovery specialist vs loss mitigation specialist

The differences between asset recovery specialists and loss mitigation specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both an asset recovery specialist and a loss mitigation specialist. Additionally, an asset recovery specialist has an average salary of $57,707, which is higher than the $43,251 average annual salary of a loss mitigation specialist.

The top three skills for an asset recovery specialist include asset recovery, inbound calls and outbound calls. The most important skills for a loss mitigation specialist are customer service, loan modifications, and foreclosure process.

Asset recovery specialist vs loss mitigation specialist overview

	Asset Recovery Specialist	Loss Mitigation Specialist
Yearly salary	$57,707	$43,251
Hourly rate	$27.74	$20.79
Growth rate	-8%	-8%
Number of jobs	37,364	7,596
Job satisfaction	-	3.67
Most common degree	Bachelor's Degree, 46%	Bachelor's Degree, 51%
Average age	46	46
Years of experience	12	12

Asset recovery specialist vs loss mitigation specialist salary

Asset recovery specialists and loss mitigation specialists have different pay scales, as shown below.

	Asset Recovery Specialist	Loss Mitigation Specialist
Average salary	$57,707	$43,251
Salary range	Between $39,000 And $84,000	Between $34,000 And $54,000
Highest paying City	-	Virginia Beach, VA
Highest paying state	-	Maryland
Best paying company	-	Accenture
Best paying industry	-	Professional

Differences between asset recovery specialist and loss mitigation specialist education

There are a few differences between an asset recovery specialist and a loss mitigation specialist in terms of educational background:

	Asset Recovery Specialist	Loss Mitigation Specialist
Most common degree	Bachelor's Degree, 46%	Bachelor's Degree, 51%
Most common major	Business	Business
Most common college	-	-

Asset recovery specialist vs loss mitigation specialist demographics

Here are the differences between asset recovery specialists' and loss mitigation specialists' demographics:

	Asset Recovery Specialist	Loss Mitigation Specialist
Average age	46	46
Gender ratio	Male, 55.1% Female, 44.9%	Male, 40.4% Female, 59.6%
Race ratio	Black or African American, 11.6% Unknown, 4.1% Hispanic or Latino, 17.0% Asian, 3.7% White, 63.1% American Indian and Alaska Native, 0.5%	Black or African American, 13.9% Unknown, 3.9% Hispanic or Latino, 20.7% Asian, 3.4% White, 57.6% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between asset recovery specialist and loss mitigation specialist duties and responsibilities

Asset recovery specialist example responsibilities.

Manage university A/R processes and enforce tuition payment policy.
Handle sensitive information given according to FDCPA regulations and standards.
Create negotiation strategies that help increase revenue by reducing losses on third-party settlement transactions.
Submit additional information request by insurance companies such as medical records, primary/secondary insurance explanation of benefits (EOB).
Secure modification documents including HAMP and bank require documents.

Loss mitigation specialist example responsibilities.

Manage internal team SharePoint and document repository.
Document accurate loss mitigation reviews and foreclosure details via MSP.
Submit Medicare claims through DDE.
Deal with Nielsen and Rentrak to monitor advertiser ad ratings
Check accounts for accuracy according to Medicare HMO guidelines.
Resolve customer disputes and prepare adjustments to A/R when necessary.

Asset recovery specialist vs loss mitigation specialist skills

Common asset recovery specialist skills

Asset Recovery, 19%
Inbound Calls, 11%
Outbound Calls, 10%
Customer Service, 8%
Foreclosure, 7%
Delinquent Accounts, 5%

Common loss mitigation specialist skills

Customer Service, 13%
Loan Modifications, 9%
Foreclosure Process, 8%
Inbound Calls, 5%
Loss Mitigation Options, 4%
Payment Arrangements, 3%

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Asset Recovery Specialist
Asset Recovery Specialist vs Loss Mitigation Specialist

Updated January 8, 2025

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