First Associates Loan Servicing, the nation's fastest growing loan servicer, announced today that the company has been assigned a MOR RV1 Residential Vendor Ranking as a Consumer Finance Servicer from
First Associates Loan Servicing is the leading loan servicer in the online lending industry with more than 30 years of experience. The company services a wide assortment of debt obligations including unsecured consumer loans, purchase finance loans and leases, auto loans, powersports loans, student loans, solar energy loans, elective medical procedure financing, and small business loans. The company was recently named Top Service Provider at the prestigious LendIt Industry Awards in
The Morningstar ranking included a number of findings, including:
First Associatespervasive enterprise risk management culture that consists of consumer finance compliance protocols, internal audit, self-risk assessment protocols, quality assurance, call monitoring scoring and feedback, and a robust vendor management oversight program. An extensive training and compliance curriculum promotes both a new hire and continuous learning environment. Comprehensive policies and procedures serve to ensure that employees perform their responsibilities in accordance with industry best practices.
- The company engages a third-party auditing firm to produce a SOC audit report on an annual basis. The most recent report completed in 2016 revealed no significant findings.
- The effectiveness of
First Associatesservicing platform is evidenced by above-average call center metrics, portfolio volume growth, strong client diversity and minimal client turnover.
First Associatesbenefits from a solid technology environment that includes a third-party consumer finance servicing system, a well-defined project management process, effective network security protocols, and a disaster recovery and business continuity plan that leverages the company's cloud-based infrastructure and multiple office locations for geographic data redundancy and processing.
“We are extremely pleased with Morningstar's assessment of
Read the full story at http://www.prweb.com/releases/2017/04/prweb14232850.htm