First Associates Loan Servicing, LLC completes SSAE16 Audit

First Associates Loan Servicing, LLC completes SSAE16 Audit

First Associates, a leading provider in the consumer loan/lease services market completed its annual SSAE16 II with unqualified report 

SAN DIEGO- November 5, 2013- First Associates is pleased to announce the successful completion of its annual SSAE16 II audit.  First Associates, a leading provider of loan and lease servicing and other support functions for originators and financial institutions, received an unqualified report - again.

 

SSAE 16 is a recognized third-party assurance audit for service providers. In 2011, it effectively replaced its predecessor, the Statement on Auditing Standards No. 70 (SAS 70 Type II), as the leading compliance initiative for service organizations. To ensure a comprehensive audit identified 12 areas of control, including enterprise-wide management systems, policies and procedures, network operations, data, change management, design and development, implementation, security, computer controls, and accounting and billing processes. In business since 1986, First Associates has consistently received unqualified reports.

First Associates received an unqualified report as a result of the audit. An “unqualified report” means the control measures are effective and resulted in no findings. “Receiving an unqualified report from a respected third-party auditor is an important part of our self-governance,” said David Johnson, CEO, First Associates, “Our goal is to make sure every client receives the strict regulation adherence, streamlined processes, and best practices they have come to expect from us. Auditing is just one of the ways we make sure we are delivering on our promises to clients. First Associates’ management understands the ever increasing importance of corporate governance, as well as the impact of the organization's services on our clients' system of internal controls. The successful completion of the 2012 SSAE16 II audit is only part of First Associates’ continued commitment to maintaining a high level of internal control.”

First Associates provides mission critical functionality to its clients in many areas including Backup Servicing across multiple consumer asset classes, Loan and Lease Origination and Servicing, Delinquency Management and other support services such as Regulatory Document Management and Verification Programs. 

About First Associates Loan Servicing

First Associates is the nation’s premier servicing firm comprised of a team of professionals with world class experience, first-rate knowledge and exceptional technology. First Associates provides best-in-class servicing for titled assets and unsecured loan and lease portfolios with a staff that is committed to providing the highest level of service to borrowers while maximizing lender and investor returns. More information is available at www.1stassociates.com.

First Associates Loan Servicing, LLC EVP, Larry Chiavaro to speak at Infocast Distributed Solar Summit

First Associates Loan Servicing, LLC EVP, Larry Chiavaro, to speak at Infocast Distributed Solar Summit

- Larry Chiavaro will speak about, “Solar Securitizations – is the Future Here?” at the Infocast Distributed Solar Summit on November 19^th, 2013-

SAN DIEGO- November 19, 2013- Larry Chiavaro, EVP of First Associates Loan Servicing, will speak at the Infocast Distributed Power Summit in San Diego on Tuesday, November 19^th. Chiavaro will discuss the role of Solar Loan and Lease Servicers and Backup Servicers in solar securitizations.

Chiavaro has insightful views on the key milestones for new asset classes built over years of experience in the consumer finance industry.  At First Associates, Chiavaro has been instrumental in creating the industry’s largest and most rapidly growing Solar Loan and Lease Servicer.  He has also been a key player in bringing new services to market designed to accelerate the growth of companies in the residential solar market.

“The time for the solar industry to tap into the securitization markets is here.  Access to the public capital market will be the next driver of growth in the residential solar market,” said Larry Chiavaro. “The ability to attract a broader investor base for long term debt will be the catalyst for rapid consumer solar adoption.  There have been many other lessors of operating assets that have tapped into the securitization market in the past.  Solar is a new asset class to the market but it has many precedents to draw from. Many of the new services First Associates has rolled out in the last twelve to twenty four months, such as enhanced UCC and PUC filing, and Initial Solar Diagnostic Services are in direct response to our solar clients plans for securitizations.  Our experience with securitized assets in other consumer asset classes allows us to quickly provide what investors, rating agencies, and other participants in these markets require for a successful transaction.”

“The Infocast Distributed Power Summit is the leading gathering place for the industry’s leaders,” said Gretchen Luchsinger, President of Infocast. “First Associates has been a key resource for the industry and a great example of success in the solar services marketplace.  We are pleased to have Mr. Chiavaro join us this year.”

Additional information regarding the Solar Securitization Conference can be found online at http://infocastinc.com/events/dsolarwest13?utm_source=dsolarwest13-PR&utm_medium=FirstAssociates&utm_campaign=MPS

About First Associates Loan Servicing

First Associates is the nation’s premier solar servicing firms comprised of a team of professionals with world class experience, first-rate knowledge and exceptional technology. First Associates provides best-in-class services for solar portfolios including origination and servicing for both lease and loan programs, UCC and PUC filing and management, delinquency management programs, initial diagnostic services and more. Our staff that committed to providing the highest level of service to customers while maximizing lender and investor returns. More information is available at www.1stassociates.com.

About Infocast

For over 25 years, Infocast has produced the highest quality events, tailored to the needs of the industries we serve. We intensively research the marketplace, pulling from an extensive network of experts to give you the information and connections to succeed. For more information, please visit us at www.infocastinc.com.

First Associates Loan Servicing EVP, Larry Chiavaro, to speak at Infocast Solar Securitization Conference

First Associates Loan Servicing EVP, Larry Chiavaro, to speak at Infocast Solar Securitization Conference

Larry Chiavaro will speak about, “The role of the Servicer and Back-up Servicer in Solar Securitizations” at the Infocast Solar Securitization Conference on September 23^rd, 2013

SAN DIEGO- September 17, 2013- Larry Chiavaro, SVP of First Associates Loan Servicing, will speak at the Infocast Solar Securitization Conference in New York on Monday, September 23^rd. Chiavaro will discuss the role of Solar Servicers and Backup Servicers in solar securitizations.

Chiavaro has insightful views on the key milestones for new asset classes built over years of experience in the consumer finance industry.  At First Associates, Chiavaro has been instrumental in creating the industry’s largest and most rapidly growing Solar Servicer.  He has also been a key player in crafting new services and products to accelerate the growth of companies in the solar financing industry.

“Solar securitization is a key driver of growth in the residential solar market,” said Larry Chiavaro. “The ability to attract a broader investor base for long term debt will be the catalyst for rapid consumer solar adoption.  There have been many other lessors of operating assets that have tapped into the securitization market in the past.  Solar is a new asset class to the market but it has many precedents to draw from. The industry is working together to create the common processes, rules and documents that will enable the creation of a strong solar securitization market and First Associates is pleased to be part of that effort.”

“The Infocast Solar Securitization Conference is the leading gathering place for the industry’s deal makers,” said Gretchen Luchsinger, President of Infocast. “We’re pleased to have Mr. Chiavaro join us this year.  He is very well connected in the industry and is always a great source of information and insight.”

Additional information regarding the Solar Securitization Conference can be found online at http://www.infocastinc.com/events/solar-securitization13.

About Infocast

For over 25 years, Infocast has produced the highest quality events, tailored to the needs of the industries we serve. We intensively research the marketplace, pulling from an extensive network of experts to give you the information and connections to succeed. For more information, please visit us at www.infocastinc.com.

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First Associates Loan Servicing to provide New York State Energy Research and Development Authority with Backup Servicing

First Associates Loan Servicing to provide New York State Energy Research and Development Authority with Backup Servicing

Backup Servicing Program will provide additional security for Loan Program

SAN DIEGO – August 15, 2013 – The New York State Energy Research and Development Authority (NYSERDA) has partnered with First Associates Loan Servicing, one of the country’s fastest growing consumer loan and lease servicers, to provide backup servicing for its innovative energy efficiency loan program.

Green Jobs – Green New York, a program established by the State of New York to significantly increase numbers of energy efficiency improvement projects and create clean-energy jobs, includes a revolving loan fund that provides unsecured low-interest loans. Under Governor Andrew M. Cuomo’s Power NY Act of 2011, NYSERDA added a second low-interest loan option, known as On-Bill Recovery Financing, which enables consumers to repay the loan on their utility bill. Both loan options help qualifying homeowners to make their homes more energy efficient with no cash up front. First Associates Loan Servicing is providing backup servicing for both loan options in the event that the master loan servicer fails to perform as required.

Loan servicing for this program includes sending monthly statements to borrowers for monthly payments due under NYSERDA’s Smart Energy (unsecured, direct bill) loans, collecting payments from borrowers and following up with borrowers who are delinquent on loan payments.  For the On-Bill Recovery loans, servicing entails coordinating with the utilities to communicate on-bill loan initiation and to commence collections, and receiving payments collected by the utilities from borrowers.

“Under Governor Cuomo, New York State is actively working to help homeowners and businesses reduce their energy costs,” said Francis J. Murray Jr., President and CEO, NYSERDA. “Through programs and funding created by the Green Jobs – Green New York Act and the Power NY Act, the State is delivering significant value to residents, including decreased energy use and carbon emissions.

In working with the capital markets and rating agencies, First Associates played a critical role in bringing our financing successfully to market.”   

“NYSERDA is actively growing the pool of capital available for energy efficiency loans through an innovative and timely structure,” said David Johnson, CEO of First Associates Loan Servicing. “We’ve partnered with many state programs on energy efficiency and solar programs.  We believe this segment of the financing ecosystem is key to making lower energy costs for consumers an achievable reality.”

About First Associates Loan Servicing

First Associates is one of the nation's premier consumer servicing firms and comprised of a team of professionals with a world-class experience, first-rate knowledge and exceptional technology. First Associates provides best-in-class servicing for titled assets and unsecured loan portfolios with a staff that is committed to providing the highest level of service to borrowers while maximizing lender and investor returns. More information is available at www.1stassociates.com.

About NYSERDA

NYSERDA, a public benefit corporation, offers objective information and analysis, innovative programs, technical expertise, and funding to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce their reliance on fossil fuels.  NYSERDA professionals work to protect our environment and create clean-energy jobs. NYSERDA has been developing partnerships to advance innovative energy solutions in New York since 1975. For more information, visit http://nyserda.ny.gov or follow us on Twitter, Facebook, YouTube, Instagram.

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© 2013 by First Associates Loan Servicing, LLC. All rights reserved. 

First Associates Loan Servicing EVP, Larry Chiavaro, to speak at Solar Asset Symposium

First Associates Loan Servicing EVP, Larry Chiavaro, to speak at Solar Asset Symposium

Larry Chiavaro will speak about, “Information Standards and Data Collection for Asset Class Creation” at the Solar Asset Symposium on July 8^th

SAN DIEGO- June 26, 2013- Larry Chiavaro, EVP of First Associates Loan Servicing, will speak at the Solar Asset Symposium: Emerging Trends, Tools and Standards San Francisco, California on Monday, July 8^th. Chiavaro will discuss the important role that information standards and data collection play in the emergence of new asset classes and how Solar Servicers play a key role in the emerging alternative energy infrastructure.

Chiavaro has insightful views on the key milestones for new asset classes built over years of experience in the consumer finance industry.  At First Associates, Chiavaro has been instrumental in creating the industry’s largest and most rapidly growing Solar Servicer.  He has also been a key player in crafting new services and products to accelerate the growth of companies in the solar financing industry.  

“Access to capital is a key component of growth in the residential market,” said Larry Chiavaro. “The ability to attract a broader investor base for long term debt will be the catalyst for rapid consumer solar adoption.  There have been many other lessors of operating assets that have tapped into the capital market in the past.  Solar is a new asset class to the market but it has many precedents to draw from. The industry is working together to create the common processes, rules and documents that will enable the creation of a strong solar securitization market and First Associates is pleased to be part of that effort.”

The SolarTech led session will host conversations from key players driving trends, tools and standard around the solar asset life cycle. From origination, screening, rating, underwriting, finance, acquisition, O & M and asset management.   The impact on cost of capital of new to solar funding vehicles such as crowd funding, REITs, MLB’s and bond funds will be explored.  The Solar Asset  Symposium will  explore new platforms and methods  for project scoring, screening, performance estimates, credit worthiness of the offtaker   and on actual system performance data as necessary to enable insurance actuaries and rating agencies to accurately evaluate risk, improve liquidity, and create low cost financial products for developers and investors. Industry experts from national laboratories, leading originators, financiers, underwriters and standards bodies will engage with participants to discuss the cost of capital, emerging standards, the role of policy and the risk premium for solar PV in various markets including residential, commercial, and utility scale.

 “The Solar Asset Symposium will be held at Intersolar, North America's premier exhibition and conference for the rapidly growing global solar industry,” said Marianne Walpert, Executive Director of SolarTech, a non-profit industry consortium with a mission to remove process related cost barriers to acceleration of U.S. solar markets. “We are excited to have Mr. Chiavaro speak this year.  His views are always both timely and interesting.”

First Associates Loan Servicing CEO, David Johnson, to speak at CU Direct Lending Conference

First Associates Loan Servicing CEO, David Johnson, to speak at CU Direct Lending Conference

David Johnson will speak about, “The Evolution of Loan Servicing” at the CU Direct Lending Conference on May 21^st

SAN DIEGO- May 14, 2013- David Johnson, CEO of First Associates Loan Servicing, will speak at the CU Direct Lending in Las Vegas on Tuesday, May 21^st. Johnson will discuss the evolution of the loan servicing industry.

As CEO of First Associates Loan Servicing, Johnson has spearheaded the development of new and innovative approaches in the industry that have dramatically improved the value of serviced portfolios while rapidly increasing customer satisfaction rates. As a result, the company has become the nation’s fastest growing servicer of loans and leases with a multi-billion dollar portfolio under management.

“This is an exciting time in the servicing industry,” said David Johnson. “Over the last several years, changes in the economy, technology and the regulatory environment have created waves of change throughout the consumer finance industry.  The minimum requirements for loan and lease servicing have risen dramatically and the opportunities to deliver superior levels of service to borrowers and lessees have risen in lockstep.  Companies that have harnessed these trends have taken the lead in the industry and are delivering what their clients need and demand in today’s environment.”

“The CU Direct Lending Conference is recognized as the leading gathering place for Credit Unions to discover the latest industry perspectives on the lending marketplace” said Brent Hollingsworth, National Director of Strategic Alliances. “We’re very pleased to have Mr. Johnson join us this year.  First Associates has been a key player in reinventing the servicing space and his perspective is always thought provoking.”

About First Associates Loan Servicing

First Associates is one of the nation's premier consumer servicing firms and comprised of a team of professionals with a world-class experience, first-rate knowledge and exceptional technology. First Associates provides best-in-class servicing for titled assets and unsecured loan portfolios with a staff that is committed to providing the highest level of service to borrowers while maximizing lender and investor returns. More information is available at www.1stassociates.com.

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© 2013 by First Associates Loan Servicing, LLC. All rights reserved

Sunnova Energy Corporation Engages First Associates for Backup Servicing

Sunnova Energy Corporation Engages First Associates for Backup Servicing

Program provides additional security for Sunnova portfolio

SAN DIEGO – April 30, 2013 – Sunnova Energy Corporation has engaged First Associates Loan Servicing, one of the country’s fastest growing consumer loan and lease servicers, to provide backup servicing for its rapidly expanding solar lease asset portfolio.  Sunnova is a residential solar lease provider that places emphasis on keeping costs low and providing the best services in the industry to partner installers and customers.

“We have three areas of focus at Sunnova: stability, service, and simplicity,” said John Berger, CEO of Sunnova.  “Partnering with First Associates, an organization with a solid reputation in the solar financial community, adds an additional layer of stability and service for the Sunnova asset portfolio, our investors, our installer partners, and most importantly for our customers.”

“Sunnova is growing rapidly due to its focus on acquiring good assets, keeping costs low, and keeping it simple,” said David Johnson, CEO of First Associates Loan Servicing. “We’re excited to join with Sunnova to accelerate and be a part of that growth.”

About Sunnova:

Sunnova is focused on making solar a simple and affordable option for homeowners.  The company’s management team has financed solar for more than 3,000 homes and 22 MW of residential solar throughout the United States. Sunnova currently provides solar leasing solutions in Arizona, California, Colorado, Delaware, Hawaii, Massachusetts, Maryland, New Jersey, New Mexico, New York, and Texas with plans to add additional states in the near future.  For more information about Sunnova, please visit www.sunnova.com.

About First Associates Loan Servicing

First Associates is one of the nation's premier consumer servicing firms and comprised of a team of professionals with a world-class experience, first-rate knowledge and exceptional technology. First Associates provides best-in-class servicing for titled assets and unsecured loan portfolios with a staff that is committed to providing the highest level of service to borrowers while maximizing lender and investor returns. More information is available at www.1stassociates.com.

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© 2013 by First Associates Loan Servicing, LLC. All rights reserved.