Invoicing and Payment Processing
Consumer payment billing by monthly invoice or periodic invoice (for Maintenance Fee and Other HOA Billings). Ability to process impound fees as part of consumer’s monthly payment.
Invoicing and Payment Processing
- Consumer payment billing by monthly invoice or periodic invoice
(for Student Loan, Maintenance Fee and HOA Billings).
- Ability to process impound fees as part of consumer’s monthly payment.
- Capability to process following loan types:
- Fixed rate simple interest loans
- Adjustable rate loans
- Balloon loans
- Consumer payments accepted by wide range of methods including:
- Online payment via credit or debit card
- Automated Clearing House (ACH) payments
- Lockbox receipt and processing
- Direct payment receipt with proper controls
- Post-dated checks
- Payments by phone
Customer Support
Customer service representatives to answer consumer balance, payment and payment history questions via phone or e-mail. Multi-lingual customer service staff fluent in English, Spanish, Portuguese, German and Farci.
Customer Service
- Customer service representatives to answer consumer balance, payment and payment history questions via phone or e-mail.
- Multi-lingual customer service staff fluent in English, Spanish, Portuguese and German.
- Consumer web portal in development where consumers can check their balance, payment histories and update address information.
Delinquent Account Collections
Utilize Account Resolutions Standards including: Online capabilities with national credit reporting agencies for data scrub and scoring. Perform effective skip tracing.
Delinquent Account Collections
- Utilize Account Resolutions Standards including:
- Online capabilities with national credit reporting agencies for data scrub and scoring
- Perform effective skip tracing
- Impact consumer’s credit history
- Predictive dialer used to maximize efficiency
- Multilingual collection staff
- Ability to generate custom letters and notifications
- Timely consumer contact and follow up to ensure highest levels of collectability
- Work with each portfolio owner to create an individualized collection strategy.
Portfolio Owner / Manager Services
Comprehensive monthly reporting package including: Trial Balance. New Sales/Collateral Addition. Cash Transactions. Non Cash Transaction
Portfolio Owner / Manager Services
- Comprehensive monthly reporting package including:
- Trial Balance
- New Sales/Collateral Addition
- Cash Transactions
- Non Cash Transaction
- Bank Balancing
- Aging/Delinquency
- Portfolio Analysis
- Monthly reporting package available in hard copy, PDF, or Excel
- Web portal to run standard reports and access consumer information
- Cash management options including:
- Ability to open individual accounts for all clients
- Option to open various accounts to segregate specific pools of loans and/or maintenance fees
- Monthly bank account reconciliations
- Weekly, semi-monthly or monthly funds transfers
- Ability to send privacy notices
- 1098 Reporting capability
- Custodial services available through a third party strategic partner
- Backup servicer abilities including:
- Trial Balance verification
- Ability to provide standard monthly reporting package
- Ability to plan for transition to successor servicer
