San Diego, CA (May 14, 2010) – National loan servicer First Associates, Inc. today welcomed nationally-known sales leader Laurence Chiavaro as Executive Vice President and Equity Partner in the company. Chiavaro will direct the development of First Associates’ business relationships, bringing the company’s comprehensive servicing capabilities to financial institutions, private equity groups, government agencies and other consumer finance entities.

“With his depth of experience, industry knowledge, and long-standing commitment to integrity, we’re proud to welcome Larry to our management team,” said Doug Henkel, CEO of First Associates, Inc. “Larry’s proven ability to create win-win solutions throughout his career makes him a natural fit for our organization, and we look forward to his great success.”

Chiavaro brings more than 20 years of consumer loan experience to his new role, most recently with CSC Financial Services Group. As Regional Vice President at CSC, Chiavaro increased new business loan servicing contracts 300% despite a challenging economic climate. Previously, Chiavaro served as Vice President at Systems and Services Technology, Inc. and at Novastar Mortgage, Inc. His work with Novastar resulted in a record increase in production and the development of a high performance national sales force.

Chiavaro has also served as Senior Vice President at Interstate Net Bank, and as a key Sales and Business Development leader at HSBC Auto Finance and GE Capital Corp. Consistently delivering breakthrough results, Chiavaro’s performance while at GE Capital earned him the right to present his successful in-house financing program to Jack Welch, former CEO of General Electric.

Chiavaro will maintain an east coast presence in New York and will support First Associates clients nationally. He can be reached at lchiavaro@1stassociates.com. For more information about First Associates’ products and services, go to www.1stassociates.com.

About First Associates

First Associates, Inc. is one of the nation’s premier consumer loan servicing firms. Headquartered in San Diego, CA, First Associates serves financial institutions, private equity groups, government agencies and other consumer finance entities. In addition to offering clients the value of experienced professionals and exceptional technology, First Associates is 100% dedicated to loan servicing and does not lend or outsource other functions. For more information about First Associates, visit their website at www.1stassociates.com.

KENNESAW, GA, Mar.29 - Altisource Portfolio Solutions, an end-to-end provider of products and services for the mortgage industry, announces that San Diego, California-based consumer loan servicing firm First Associates, Inc. has implemented Altisource’s REALRemit®, an automated e-commerce invoicing and borrower payment portal solution, to manage its accounts payable and borrower loan payments. By implementing this solution, First Associates has established the invoicing and payment foundation to support and accommodate its high growth as well as the multiple asset classes it handles.

“Managing customer and vendor invoicing and payments can be very time consuming and tedious,” said Doug Henkel, CEO of First Associates. “If a company doesn’t have a system that can accommodate expanding activity levels, the entire business operation’s growth can be compromised. Since we’re in a high growth mode servicing multiple asset classes, we needed a solution that was powerful enough to keep us ahead of the curve.”

“We gave Altisource our ideal list of what we wanted and they made it happen,” said Henkel. “There’s a big difference in how each of our asset classes is handled, and I’m used to having to educate technology vendors on the nuances of the business. That was not the case with Altisource, which saved us a huge amount of time and money in getting the system up and running.”

About REALRemit®

REALRemit® is a patented e-commerce vendor invoicing and payment system as well as a web-based borrower loan payment solution that helps organizations manage the complex tasks involved with the vendor bill presentment and payment cycle. REALRemit® integrates seamlessly with the client company’s bank, financial system and credit card processor as well as with any accounts payable system, loan transaction system or consumer-facing portal. The system also enables direct deposit and credit card settlements along with electronic payment notification.

SOURCE: Altisource Portfolio Solutions S.A.

CONTACT: Altisource Portfolio Solutions S.A.

Robert D. Stiles, Chief Financial Officer

+352 2469 7903

robert.stiles@altisource.lu

SAN DIEGO, Feb. 23 /PRNewswire/ – National loan servicer First Associates, Inc. today announced its successful completion of an SAS 70 Type II audit.

SAS 70, or the Statement on Auditing Standards No.70, is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA), used to report on the processing of transactions by service organizations. One of the many advantages of an SAS 70 audit is that it allows First Associates’ controls and operations to be independently verified by an unbiased third party, ensuring clients that all customer information is securely maintained and thoroughly protected. Through the successful completion of the SAS 70 Audit, First Associates also assists its publicly-held clients who are required to comply with the Sarbanes-Oxley Act of 2002, by providing transparency into First Associates’ internal control objectives.

“At First Associates, the security of our clients’ information has long been a top priority, reflected in every financial transaction we undertake,” says Doug Henkel, CEO of First Associates, Inc. “We have consistently received industry recognition for exceeding high performance standards and quality customer support, and we are proud to report that our internal control structure and security processes have also been independently recognized and verified, without exceptions.” The SAS 70 Type II Audit was completed by an independent accounting firm, to ensure that high operational standards are in place for both First Associates’ internal controls as well as its outsourced servicing functions.

For specific information regarding First Associates’ SAS 70 report results, please contact Alexa Del Pilar at (858) 451-2444, extension 333.

SAN DIEGO, Dec. 8 /PRNewswire/ -- The world of finance is changing in almost every sector, and nowhere is that change more obvious than in the loan servicing industry. To address the need for investors to choose their new servicer wisely, Doug Henkel, CEO of national loan servicer First Associates, Inc. recently shared some key servicer questions with the California Mortgage Bankers Association (CMBA).

"In the past, servicing was often considered a commodity--even an afterthought," explains Henkel. "Price was all-important, and investors wanted servicing done as cheaply as possible. Many critical phases were outsourced internationally, and operations were tightened. This worked well in an era of low delinquency and high employment, but we're facing a far different situation in the current economy."

According to Henkel in his article What to Look for In a Servicer, servicers must re-tool and change processes so that they match the needs of their investors' portfolios. Investors, for their part, must choose their servicer not solely on brand-equity and pricing, but on factors such as experience, technology, methodology and capacity. These attributes can often be discovered through the following six questions:

What's the Delinquency Rate of your current portfolio? Simply stated, you cannot expect your servicer to manage your portfolio effectively, if they don't stay on top of their other portfolios.

When was your last technology or software upgrade? After a cycle where price was king and cost efficiencies ruled the day, many servicers are not updating their platforms. Make sure yours has.

What's your Servicing Strategy... and what did it used to be? Going from "low-cost" to "high-touch" may sound like a smart move, but it represents a significant operational change.

Can you really do all you say you can, at those pricing levels? In order to be successful, today's servicer must engage in several time-consuming and non-outsource processes - processes that may not have been necessary several years ago.

How long have you been in business and how strong are your financial statements? After checking to see what experience your prospective servicer has, ask to see a copy of their financial statements.

Are you the right size for my needs? This takes careful reflection before you seek out a servicer. If you have a portfolio full of problems and work-out issues and you want special attention, you may want to consider a smaller servicer with a "clean plate."

To review the entire article at the CMBA website, go to www.cmba.com/new/newsletters/09/CMFN-Fall09.pdf.

LOS ANGELES & SAN DIEGO--(BUSINESS WIRE – September 9, 2009) -- DebtMarket (www.debtmarket.com), the first automated marketplace that connects buyers and sellers of loan portfolios, and First Associates, Inc.(www.1stassociates.com), one of the nation's premier consumer loan servicing firms, today announced a partnership that will provide schools, banks, credit unions and other financial institutions a new way to sell the loans they originate and offer faster transfer of loan servicing once a portfolio sale is completed.

Many experts regard a transparent secondary marketplace -- where financial institutions can turn to establish pricing and transact sales of hundreds of billions of troubled consumer loans -- as a critical step toward an economic recovery. Once these portfolios are sold, loan servicers are responsible for coordinating loan payment from the consumer to the new institutional owner of the loan. Integrating access to this new, technology-based secondary market for loans with servicing will facilitate a faster, more efficient and cost-effective portfolio transaction for clients of both companies.

The recently launched DebtMarket technology platform enables sellers of consumer loan portfolios to list loans representing any asset class, size of portfolio, credit quality and loan performance; establish and negotiate pricing using an auction-style marketplace; perform due diligence; and close and fund the sale. The partnership with First Associates will enable portfolio sellers and buyers to further streamline the transaction process by speeding the transfer of loan servicing, thus helping eliminate payment disruptions among consumers, who often are confused about where to send payment when a loan is sold.

The partnership provides consumer lenders already served by First Associates with free access to DebtMarket's standardized, efficient technology-enabled portfolio sales marketplace that enables them to establish market pricing for assets and provides an end-to-end transaction management platform. DebtMarket sellers pay a percentage fee only after a portfolio sale closes.

"First Associates offers the experience, outstanding technology, infrastructure and scalability to meet the servicing needs of the schools, banks, credit unions and other credit providers DebtMarket serves," said First Associates CEO Doug Henkel. "Partnering with DebtMarket brings a whole new dimension to the lenders we already serve at a time when liquidity and establishing market pricing for portfolios has been an issue for them."

"Our partnership with First Associates is another step in the direction of a more efficient and transparent process for pricing and selling consumer debt portfolios," said DebtMarket Co-founder and President Mike Sheridan. "In addition to providing a potential solution to our financial system's liquidity crisis, our intent is to partner with market leaders like First Associates to bring value-added services and relationships to our clients and leverage new marketing channels with select business partners."

About DebtMarket
DebtMarket (www.debtmarket.com) is the world's first automated marketplace that connects buyers and sellers of loan portfolios. The innovative DebtMarket technology platform delivers price transparency, process automation and direct buyer/seller communication in a secure online environment. The company has offices in Danville, Calif. and Los Angeles.