NWP’s Multifamily Customers to Benefit from New Integration with FCO

Nov. 12, 2010 - PRLog -- NWP Services Corporation (NWP), a leading provider of financial transaction processing solutions for the multifamily housing industry, today introduced new integration with Fair Collections & Outsourcing, Inc. (FCO) enabling its resident rent and utility billing customers to improve strategic management of their outstanding collections accounts and recovery efforts.

“The new integration engineered between NWP’s billing system and FCO creates efficiencies for our customers and provides a faster and easier way to recover dollars from delinquent collections accounts,” said Debra Medina, product manager for NWP. “The process is very simple: property management staff log on to NWP’s website and quickly identify their delinquent resident accounts and electronically and instantly submit resident data to FCO to begin the collection process,” Medina added.

The feature is now available to all NWP resident billing customers. A service agreement with FCO is required and available online; service options include dynamic collections strategies, application of analytics and account scoring for proven workflow strategies and analysis of resident credit decisions for multifamily properties.

“FCO is excited to work with NWP in providing electronic collection solutions to maximize recovery for their customers,” stated Carol Bloom, FCO Executive Vice President. “This great value-added program is designed to help cure delinquent resident accounts and recover dollars lost on their post move-out skips, evictions and lease breaks. NWP customers will enjoy the same complete menu of online collection reports as do FCO’s multifamily clients nationwide. The teams at NWP and FCO found terrific synergy working together to make this happen,” added Bloom.

“In this challenging environment it is reassuring to know that FCO is now available to support customer’s delinquent accounts. The practicality is that collections efforts are efforts that our customers need to address,” said Michael Radice president and CEO of NWP. “FCO brings an industry leading professional collection team and applied technologies to focus on improving our customer’s recovery efforts through innovative strategies and advanced reporting tools. This interface enables rapid movement of the necessary collections information to FCO. It is well proven that faster action yields better collections results,” added Radice.

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NWP provides financial transaction processing services for the multifamily industry. NWP is a recognized leader in service quality for resident billing, resident payment processing and utility management services.