First Associates Implements Altisource’s E-commerce Invoicing

Kennesaw, Georgia-based ""Altisource Portfolio Solutions"":http://www.altisource.com announced Tuesday that First Associates, Inc. has implemented its REALRemit solution, an automated e-commerce invoicing and borrower payment portal, to manage accounts payable and borrower loan payments.

[IMAGE]

""First Associates"":http://www.1stassociates.com is a consumer loan servicing firm headquartered in San Diego, California that offers its services to financial institutions, private equity groups, government agencies, and other consumer finance entities.

""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

[COLUMN_BREAK]

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.""

Altisource says its REALRemit solution gives First Associates just that advantage, supporting the company's growth and various asset classes. REALRemit is a patented e-commerce vendor invoicing and payment system, as well as a Web-based borrower loan payment solution. Altisource explained that the technology helps organizations manage the complex tasks involved with the vendor bill presentment and payment cycle, and integrates seamlessly with the client's other systems.

""We gave Altisource our ideal list of what we wanted and they made it happen,"" Henkel said. ""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.""

In addition to its REALRemit e-commerce system, Altisource provides services related to real estate mortgage portfolio management, asset recovery management, and customer relationship management.