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Announcing...Nortridge Partners with PayNearMe
Did you know that 24 percent of U.S. families don't have a credit card or debit card and use cash or money orders to pay their bills? PayNearMe and Nortridge are excited to offer an alternative to the risky business of accepting cash or money orders in your office. PayNearMe Electronic Cash Payment lets customers safely and easily repay their loans in cash at 10,000 7-Eleven and ACE Cash Express locations, allowing your staff to avoid manual data entry and eliminating the risk of money order theft.
To sign up for PayNearMe,
contact Dan Desmond at (650) 649-8398 or
dan@paynearme.com.
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Upcoming Events
Plan to stop by our space at the exhibit hall
Auto Finance Summit
October 14-16, 2013
Las Vegas
Opportunity Finance
Network Conference
October 15-18, 2013
Philadelphia
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Subscribe to the Nortridge Blog
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Successful Collections = Profitability
Nortridge understands the importance of successful collections. In this issue, we share some ideas and insights we hope you find useful. NLS users who have other tips and advice they'd like to share can continue the conversation in the Nortridge Online Community. Simply visit the site and post your comments or questions.
Nortridge is pleased to solidify another partnership that will benefit all of our clients. In just a week or two, you'll be able to integrate PayNearMe payments directly into NLS. You can read more about this new partnership in this issue.
Thanks for tuning in. I'm always open to your feedback. Please feel free to contact me any time.
Thank you,
Greg Hindson
President, Nortridge Software
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5 Tips to Achieve More Effective Collections
Collecting baseball cards: Easy.
Collecting on delinquent loans or written-off debt: Difficult.
If only it were easy as collecting baseball cards.
Although the process of collecting on consumer or commercial debts may never be an easy one, there are certain things that loan servicers can do to make it smoother for everyone involved. So says Tim Bauer, President and CEO of St. Louis-based National Asset Recovery Services, Inc., a diversified Accounts Receivable Management (ARM) firm. According to Bauer, there are five best practices loan servicers and debt collectors can implement to help their firms collect better.
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Americans with an Account in Third Party Collections Hits All-Time High...Again
Excerpt from: insideARM.com
Despite a drop-off in severely delinquent credit, the percentage of Americans with at least one credit report trade line from third party debt collection agencies stayed near an all-time high in the second quarter of 2013, according to the Quarterly Report on Household Debt and Credit from the Federal Reserve Bank of New York.
The New York Fed (FRBNY) reported that 14.60 percent of Americans had a third party collection action on their credit reports in Q2 2013, down very slightly from 14.64 percent in the first quarter, the highest rate on record.
The average balance on third party debt collection accounts continued to fall in the quarter. In Q2 2013, the average was $1,409 per account, down from $1,433 in the first quarter and well below the all-time high of $1,550 set in the second quarter of 2012.
Read the full article...
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Did you Know...
NLS Has a New Borrower Portal Website Template
Nortridge Software recently launched a Borrower Portal website template. The template provides you with the HTML and CSS source code for a set of web pages, pre-designed to interface with your NLS database through Web Services, which has functionality such as borrower loan lookup, statement retrieval, and online payment processing, to name just a few of the key features.
If you missed the Webinar Wednesday where Aaron Abrams gives more information on the new portal, click here to watch to recorded version.
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Upcoming Topics
Nortridge clients will receive invitations to each Webinar Wednesday session. Be sure to register in advance.
Save these dates!
October 2: Tips & Tricks
Top 4 Uses of Custom Transaction Codes
October 16: Tips & Tricks
How to Use Campaign Builder to Create Collection Queues
October 30: New Feature
PayNearMe
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