San Diego, CA – August 22, 2018 – First Associates announced the release of the 2018 Morningstar Credit Ratings ranking report certifying their overall excellence in loan servicing. For the second year in a row, Morningstar awarded First Associates a MOR ABS1 ranking of ‘stable’ which is the highest certification possible and deeply assesses risk management, call center performance, quality assurance, technology, security protocols, project management and disaster recovery protocols.
“We are extremely pleased to receive the top Morningstar ranking again in 2018,” said David Johnson, CEO. “First Associates is the only company in our class to receive this accolade and we are honored by Morningstar’s continued recognition of our efforts to provide the highest-quality service for our clients.
Morningstar affirmed the ranking based on a variety of factors, including the following:
- First Associates continues to expand its product offerings to meet the needs of its growing client base. It has added credit card servicing to its portfolio and has created a call center support service to help clients service loans and leases on client-managed servicing platforms. The call center services also include support for customer service, delinquency management, lead generation and technical support.
- The company’s enterprise risk management strategy includes consumer finance compliance protocols, internal audit, self-risk assessment protocols, quality assurance, call monitoring scoring and feedback, a robust vendor-management oversight program, and platform-wide artificial intelligence that analyzes all inbound and outbound voice communication.
- Call center metrics, portfolio volume growth, strong client diversity, and minimal client turnover demonstrate that First Associates has an effective servicing platform.
To read Morningstar’s full assessment, visit: First Associates Assigned Asset Backed Servicer Ranking
About First Associates Loan Servicing, LLC
First Associates offers in-depth industry expertise, cutting-edge technology and provides flexible, scalable and innovative solutions to meet the demands of any company. The company is the fastest growing servicer of loan and lease portfolios in the United States and is actively expanding across the globe. Their best-in-class solutions – Primary Loan Servicing, Capital Markets Support, Call Center Support – deliver accelerated performance, enhanced capability & economic advantage.
First Associates celebrated their 30-Year Anniversary in 2016 and were selected by their peers as the LendIt 2017 Top Service Provider. http://www.1stassociates.com.
First Associates Contact:
Senior Director, Marketing