Skip to content

Loss Mitigation Specialist

Lafayette Federal Credit Union

Location: Rockville, MD

Schedule: Full-time

Position Overview

Welcome to Lafayette Federal Credit Union Careers! Our organization is growing, and we are seeking top-notch individuals to provide support to our members. Our employees are a critical component in our endeavor to be the premier financial partner for every one of our members.

  • Do you have experience with the maintenance of severely delinquent accounts?
  • Do you have experience reviewing the members overall financial condition and compensating factors?

If so, then Lafayette Federal may have the perfect opportunity for you! We are currently seeking a Loss Mitigation Specialist to join our dynamic team!

About us:

Our Difference: What makes Lafayette Federal cutting-edge? Lafayette Federal Credit Union is not only a great place to bank, but also a great place to work! We have been recognized nationally by (1) Newsweek’s America’s Best Bank’s list, (2) we’ve received a 5-star rating from Bauer financial, and (3) we’ve also ranked #12 in S&P Global’ s Top Performing Credit Union’s in 2022 for the second year in a row!

Our Culture: Lafayette Federal is about inclusion, diversity, high performance, and new opportunities. Teamwork and our sense of community also make Lafayette Federal a great place to work. Each person is valued for his or her unique set of skills. We share a common devotion to the people we serve, participating in charity events throughout each year and giving back to the community.

Our Opportunities: Professional development, training, and certification is a priority for our employees. We want you to reach your career goals and provide support that leads to opportunities of advancement within the industry.

About the role:

 We are seeking a smart, organized, and resourceful professional to assist the Asset Recovery department with the overall maintenance of severely delinquent accounts to include reviewing and recommending loans for extension and/or workouts. In addition, this position is responsible for reviewing the members overall financial condition and compensating factors as well as serve as a back up to the Mortgage, Bankruptcy and Charge Off Specialists.

A day in the life of a Loss Mitigation Specialist will include:

  • Responsible for reviewing and preparing all files for the Loss Mitigation Committee. This process includes an in-depth analysis of the Member’s relationship with the credit union and the financial risk with all parties involved.
  • Responsible for monitoring all accounts under an approved modification or workout to ensure the borrower is complying with agreed upon action steps.
  • Review all third-party debt management cases.
  • Responsible for all follow up calls and memos with respect to financial needs cases.
  • Ensures quality control by reviewing such items as vendor invoices, recovery, SCRA and EOscar reports.
  • Serves as a back up to the Bankruptcy Specialist by maintaining bankrupt accounts.

Education & Experience

  • Three years to five years of similar or related experience. Have and maintain a working knowledge of FDCPA (Fair Debt Collections Practices Act).
  • Proficiency in Excel and Word required; knowledge of Corelation and FICS preferred.


Our ideal candidate will:

  • Provide all members with professional support, accurate information, and friendly service.
  • Ensure all data entry for loans are made with minimal, non-recurring errors.
  • Contribute to the successful achievement of Organizational and Departmental goals as set by management and/or the Vice President of Asset Recovery.
  • Adhere to Lafayette Federal’s Service Standards Policy.
  • Maintains confidentiality at all times.
  • Maintain a dependable record of attendance and timeliness.
  • Ensure that consumer and mortgage collection queues are followed.

Additional Comments

Top benefits or perks:


Joining Lafayette Federal comes with perks to support you in your personal and professional journey.

We provide employees with a generous benefits package including:

  • Employer paid (99.9%) health insurance premium for single and family coverage (HMO Plan)
  • Fully funded deductible (HMO Plan)
  • 401k employer matching contribution
  • Income protection with life insurance, short and long-term disability
  • Paid time off & holiday leave
  • Educational assistance
  • Commuter benefits program and more


The job posting highlights the most critical responsibilities and requirements of the job. It is not all-inclusive. There may be additional duties, responsibilities, and qualifications for this job.


*Lafayette Federal Credit Union is an Equal Opportunity and E-Verify Employer



How to Apply

Please apply using the following link:


Join Our Mailing List

Keep up with the latest industry info, advocacy updates, member spotlights and upcoming events.