First Associates Loan Servicing Completes Compliance Audit With Zero Discrepancies

SAN DIEGO, Oct. 18, 2012 /PRNewswire/ -- First Associates Loan Servicing, one of the country's fastest growing consumer loan servicers, announced its recent completion of its Statements on Standards for Attestation Engagements (SSAE) 16 audit with no discrepancies.

The internationally recognized, third-party assurance review is the de facto standard in the financial industry for assuring that an organization maintains a high level of data integrity, security and highly secure work processes.

"The SSAE 16 examination is designed and monitored by the American Institute of Certified Public Accountants and conducted to discover flaws in both design and process, and we're pleased that ours were found to be 100 percent compliant and error free," said David Johnson, CEO of First Associates Loan Servicing. "It's a testament to our commitment to providing the highest level of client service through a state-of-the-art technology platform that meets or exceeds all governing standards."

About SSAE 16
SSAE No. 16, Reporting on Controls at a Service Organization (AICPA, Professional Standards, AT sec. 801) is an attestation standard that establishes the requirements and guidance for reporting on controls at a service organization relevant to user entities' internal control over financial reporting. The controls addressed in SSAE No. 16 are those that a service organization implements to prevent, or detect and correct, errors or omissions in the information it provides to user entities.

SSAE No. 16 superseded the SAS 70 audit standard in mid-2011. It is the adopted version of the International Standards for Assurance Engagements (ISAE) No. 3402, Assurance Reports on Controls at a Service Organization, for use in the United States.

About First Associates Loan Servicing
First Associates is one of the nation's premier consumer loan servicing firms comprised of a team of professionals with world class experience, first-rate knowledge and exceptional technology. First Associates provides best-in-class servicing for titled assets and unsecured loan portfolios with a staff that is committed to providing the highest level of service to borrowers while maximizing lender and investor returns. More information is available at www.1stassociates.com.

© 2012 by First Associates Loan Servicing, LLC. All rights reserved. 

Contact: David Oates
Stalwart Communications
(858) 750-5560
[email protected]

SOURCE First Associates Loan Servicing