Servicer News Vol. 10 Winter 2015

posted by Joe Andries on Tuesday, January 13, 2015

ABOUT US

GreatAmerica Portfolio Services Group (GPSG) is a lease and loan outsourcing service provider specializing in third party and backup servicing. We focus on developing mutually beneficial relationships with banks, independent financial companies, captives, vendors, manufacturers, trustees and financial investors, ultimately helping them achieve greater success.

NOTES FROM THE FIELD

Third Party Servicing – Captive Leasing Companies

A common funding model for captives is to use multiple funding sources under a private label servicing arrangement.  While private labeling enhances brand awareness, there are no guarantees on multiple sources providing a consistent customer servicing experience.  Captives can control the customer experience and benefit from a single servicing/multi funding arrangement.  This can be achieved by  providing a single invoice to the customer, which the servicer can then segregate cash and send to the multiple funding sources.    Through a partnership with a servicing partner, the captive not only controls the customer service levels and enhances their brand equity, but they also have a single reporting structure which provides compiled and segregated performance on their entire portfolio.       

Third Party Servicing – Solar Industry Update

Our excitement and enthusiasm for the solar industry remains strong for 2015.  Our current solar clients’ growth is steady and we continue to pursue new opportunities. Our variable billing abilities, especially when working with PPAs, has continued to be a front runner and very appreciated by our clients and their clients. This also holds true for our loan and lease servicing products. Our bench depth in the solar market has been especially useful in launching our stand-alone public filings outsource offering that manages the UCC, Fixture, and CA PUC filings.  We continue to apply weekly and/or daily electronic on-boarding of new contracts to handle the volume flow.  Once on-boarded, our production tracking and billing, private label invoicing, cash management, account support, collections, tax compliance, and reporting have helped maintain and sustain business with our existing customer base. Our vision is to be the premier servicer in the solar industry.

Outsourced Servicing – Why is it attractive? 

We have seen many finance companies in need of a servicing solution so they can capitalize on new access to capital and growth initiatives or place better focus on new product offerings.  Of the many key advantages to outsourced servicing, the most appreciated is cost savings.  Access to instant expertise is a close second.  By offering a turnkey servicing solution implementation within 60-90 days, there is often minimal business disruption. A common theme among current clients is they could not have realized the immediate success without our partnered help.  Our culture is customer centric and driven by helping our clients achieve greater success.

EMPLOYEE SPOTLIGHT: Sarah Barnett
Sarah Barnett is from Cedar Rapids, Iowa and brings a wealth of experience to the role of Sales and Implementation Specialist. Most of her nearly six years at GreatAmerica was spent in the IT department, and it was a logical transition for her to be responsible for onboarding new customers, implement IT projects, and manage configuration of the ServicerZone. “You’re not just a number at GreatAmerica. . . they truly care about you,” Sarah says. “GreatAmerica goes above and beyond to make your work life enjoyable.” Sarah said she enjoys giving “that personal touch” with PSG clients. “You get to know who you’re working with, develop a partnership, and have the advantage of years of leasing expertise at your fingertips to help them.”
JOE'S CORNER

In conversations with our Clients, they shared that 2014 was very rewarding and successful - ultimately meaning it was also a very good year for the GreatAmerica Portfolio Services Group.  We know our success is dependent on the success of our Clients.  In reflection, I am excited to share some of our achievements from the previous year and look forward to 2015.  Our goal is to be the leader in providing third party outsourced servicing solutions. 

Achievements:

  • Expanded the ServicerZone front-end servicing platform to include credit processing
  • Expanded reporting capabilities for our customers
  • Implemented an enhanced loan servicing platform for the residential solar industry
  • Implemented a quarterly servicing review process for our Clients
  • Grew our third party serviced portfolio by 75%
  • Grew our backup servicing Clients by 100%
  • Welcomed 10 new GreatAmericans to our servicing team

2015 Focus Areas:

  • Continued growth and development of our Team
  • Technology enhancements geared towards customer needs
  • Providing value-add servicing solutions to captives, banks and solar opportunities
  • Enhance our services and products to improve our value proposition to our clients

The GreatAmerica Principles include building enduring relationships with our Clients while being committed to mutual success.  In 2014, we continually created awareness to our servicing team about the importance of a positive experience in every interaction with our Clients or their customers.  We will do the same in 2015.  Our customers, investors, and communities need to be proud of their association with us based on our reputation for hard work, integrity, excellence, and history of success.  Whether you are a customer, prospect, or a friend of GreatAmerica Portfolio Services, we wish you a prosperous 2015!  

Joe Andries
Vice-President & General Manager
GreatAmerica Portfolio Services
Tel. 877-762-3808 or 507-929-5117
Fax 877-762-3809

jandries@greatamerica.com
Benefits of a Servicing Partnership with GreatAmerica Portfolio Services Group
  • Alignment with an Industry Recognized Leader
  • Commitment to the Industry’s we serve 
  • Financial Strength
  • Proven Servicing Platform
  • Flexible Servicing Approach
  • Customer Focused Culture
  • Exceptionally Trained Employees
  • Leading Edge Technology

WOW! Award

Each month The WOW! Award is presented to employees and teams that have gone above and beyond to provide our customers the GreatAmerica Experience. These are just a few customer praises:

"I've sinceerely enjoyed working with your team and feel like we've made tons of progress together. We've resolved an uncountable number of homeowner issues together and while it hasn't always been easy dealing with the customers, it's always been a pleasure working with your team."

"I'd like to thank Jayna for very patiently and porfessionally helping me with understanding my solar panel agreement. I've trained administrators like Jayna for the past 25 years and would place her as the best.

CALENDAR


ABS Vegas 2015
Las Vegas, NV
February 8-11, 2015

ELFA Equipment Management Conference
Miami, FL
February 22-24,2014

Investors Conference on Equipment Finanace
New York, NY
March 12, 2015

NEFA Finance Summit
Long Beach, CA
March 18-20, 2015

Solar Power Finance & Investment Summit
San Diego, CA
March 25-26, 2015

ELFA National Funding Conference
Chicago, IL
April 21-23, 2015

Sunshine Backed Bond Conference
New Yourk, NY
April 30-May1, 2015

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GreatAmerica Portfolio Services | One GreatAmerica Plaza | 625 First Street SE | Cedar Rapids, IA 52401

About The Author

Joe Andries, Vice President and General Manager of GreatAmerica Portfolio Services Group LLC, is responsible for the sales, marketing, operational oversight and strategic planning for the Portfolio Services Group. Prior to joining GreatAmerica Portfolio Services Group in 2010, Joe was the SVP and ... read more

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