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.