Confusing cause and effect is one of the most common logical fallacies. It's a principal component of most propaganda. It's also known as the correlation/causation error, Post Hoc Ergo Propter Hoc or the false cause fallacy.
Loss Mitigation. Loss mitigation is a process used by mortgage lenders to work with buyers who are delinquent on their home loans. Through the loss mitigation process, a lender may modify the terms of a home loan, allowing the homeowner to sell the property for less than is owed, or transfer the deed back to the lender. The goals of loss mitigation are to reduce the potential loss being incurred by a lender when the borrower is delinquent.
The term  mitigation seemly means to mitigate or control or manage a certain loss amount. So... although commonly known for only banks to hire, Loss Mitigation Specialists can be anyone assisting in the controling of loss for the asset in question. This is usually found working in the short sale investing arena.