PARAMOUNT LOAN SERVICING
Compliant Loan Servicing Solutions
Collect on Loans While Remaining Compliant
Finding the right loan servicing business partner is challenging for many companies because of the nuanced technical and legal requirements.
On the one hand, collecting on loans is essential to bottom-line health. If a servicing business cannot provide high collection rates, the company they represent will miss out on revenue.
On the other hand, remaining compliant in the heavily regulated finance industry is just as important. Overstepping boundaries and taking compliance risks can land companies in legal hot water.
Thankfully, Paramount’s loan servicing solutions provide high collection rates while reducing your compliance risk to make collections more reliable and safer than ever.
Loan Servicing Solutions
In-Depth Portfolio Analysis
Visualize and understand your current loan portfolio to better assess where problems originate and what to address.
Dedicated Project Success Manager
Communicate and build a relationship with your dedicated project manager, who will create a customized loan servicing system.
Agile Technology
Utilize state-of-the-art technology to create tailored and automated workflows.
Reduce Compliance Risk
In the heavily regulated finance industry, remaining compliant is easier said than done. With more than 25 years in the industry, Paramount can minimize the chance of a compliance violation.
Raise Collection Rates
Paramount has a proven track record of creating customized loan servicing solutions that consistently return high collection rates.
Improve Peace of Mind
With Paramount’s industry-leading technology stack, you and your staff can always access advanced portfolio analytics to keep tabs on your loan servicing.
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Features
Extensive Credit Experience
Benefit from a team with more than 25 years of experience handling the needs of borrowers across the credit spectrum. From super-prime to subprime to no credit, Paramount is well versed in addressing the needs of all borrowers.
Omni-Channel Communication
Provide borrowers with the flexibility to communicate the way they want, whether that means SMS, email, phone, or chat.
Dedicated Project Success Manager
Take advantage of your project success manager, who will always be there to answer questions or address concerns with your loan servicing.
White-Label Solutions
Utilize full private-label servicing with branded communications and a dedicated account team. All customer communications will sound like they are coming directly from you.
Broad Asset Class Served
Harness Paramount’s comprehensive asset class expertise to service the loans you need. Our expertise spans secured and unsecured consumer loans and finance contracts, alternative lenders, fintech companies, home improvement, elective medical, recreational and specialized vehicles, power sports, point-of-sale, and many more industries.
Automated Loan Boarding
Seamlessly transfer your portfolio of loans from your servicing system to ours. We can automatically load files via our restful API for sophisticated clients and flat files for ease of use for less tech-experienced organizations.
High Collection Rates
Staffed with only the best collection agents, we have perfected our system over 25 years by using it on our loan portfolios and those of our clients. We are well versed in high-touch communications, with a customer service department to handle early-stage collections and a collections department to manage more delinquent accounts. We will find a way for struggling borrowers to get back on track, increasing your collection rates.
Regulatory Compliance and Reporting
Avoid compliance violations in the heavily regulated finance industry to stay out of court.
Analytics
View real-time data about your portfolio via direct integration into your analytics systems.
Investor Accounting and Reporting
Receive customized reporting packages that fit the needs of your investors and limited partners, whether you need bank compliance certificates or customized reports for investors and limited partners.
Backup Servicing
Access a complete range of backup servicing from full parallel services to standby. If needed, our team can take over to provide you with the asset management protection you need.
FAQs
Does Paramount offer private/white-label servicing?
Paramount offers full private-label servicing. All customer communications are branded, phones are answered in your name, and we can provide a dedicated team to your account.
What range of credit can Paramount service?
Paramount services accounts across the entire credit spectrum from super-prime to deep subprime and no credit.
How long has Paramount been in business?
More than 25 years.
What sets Paramount apart from other servicers?
We developed our collection systems and protocols based on servicing our own portfolio. With that in mind, we collect every account like it is our own money at risk.
Can Paramount customize its solutions to our specific needs?
Our technology and experienced staff enable customized solutions for your specific needs.
What industries does Paramount serve?
Paramount serves a wide range of asset classes, including but not limited to secured and unsecured consumer loans and finance contracts, alternative lenders, fintech companies, home improvement, elective medical, recreational and specialized vehicles, power sports, point-of-sale, and many other industries.
Can Paramount provide bank and investor reporting?
From bank compliance certificates and portfolio reporting to customized reports for your investors and limited partners, we can design reporting packages that fit your needs.
What are Paramount’s compliance standards and practices?
Compliance is a part of the day-to-day responsibilities of Paramount Capital Group management, employees, service providers, and business partners. We have integrated a sound compliance management system (CMS) into our framework to effectively manage compliance with federal, state, and local regulatory requirements across the entire servicing life cycle of an account.