Credit adjuster vs loss mitigation specialist

The differences between credit adjusters 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 a credit adjuster and a loss mitigation specialist. Additionally, a loss mitigation specialist has an average salary of $43,251, which is higher than the $40,686 average annual salary of a credit adjuster.

The top three skills for a credit adjuster include credit card, auto loans and delinquent accounts. The most important skills for a loss mitigation specialist are customer service, loan modifications, and foreclosure process.

Credit adjuster vs loss mitigation specialist overview

	Credit Adjuster	Loss Mitigation Specialist
Yearly salary	$40,686	$43,251
Hourly rate	$19.56	$20.79
Growth rate	-8%	-8%
Number of jobs	13,826	7,596
Job satisfaction	-	3.67
Most common degree	Bachelor's Degree, 45%	Bachelor's Degree, 51%
Average age	46	46
Years of experience	12	12

Credit adjuster vs loss mitigation specialist salary

Credit adjusters and loss mitigation specialists have different pay scales, as shown below.

	Credit Adjuster	Loss Mitigation Specialist
Average salary	$40,686	$43,251
Salary range	Between $28,000 And $57,000	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 credit adjuster and loss mitigation specialist education

There are a few differences between a credit adjuster and a loss mitigation specialist in terms of educational background:

	Credit Adjuster	Loss Mitigation Specialist
Most common degree	Bachelor's Degree, 45%	Bachelor's Degree, 51%
Most common major	Business	Business
Most common college	-	-

Credit adjuster vs loss mitigation specialist demographics

Here are the differences between credit adjusters' and loss mitigation specialists' demographics:

	Credit Adjuster	Loss Mitigation Specialist
Average age	46	46
Gender ratio	Male, 33.8% Female, 66.2%	Male, 40.4% Female, 59.6%
Race ratio	Black or African American, 11.1% Unknown, 4.0% Hispanic or Latino, 18.8% Asian, 3.6% White, 62.0% 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 credit adjuster and loss mitigation specialist duties and responsibilities

Credit adjuster example responsibilities.

Plan and conduct sensitive HUMINT collection operations with an emphasis on managing and debriefing confidential sources.
Perform collections activities on delinquent loan accounts to include repossessions, foreclosures, bankruptcy proceedings, and disposition of repossess assets.
Prepare SBA require purchase/demand packets and wrap-up reports ensuring awareness of government compliance processes and expectations.

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.

Credit adjuster vs loss mitigation specialist skills

Common credit adjuster skills

Credit Card, 16%
Auto Loans, 15%
Delinquent Accounts, 15%
Outbound Calls, 11%
Customer Accounts, 10%
Mortgage Loans, 10%

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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Office and Administrative Industry
Credit Adjuster
Credit Adjuster vs Loss Mitigation Specialist

Updated January 8, 2025

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