Consolidated Asset Recovery Systems Partners with Future Computer Systems, Inc …
(Raleigh, N.C.) Consolidated Asset Recovery Systems (CARS), a Raleigh-based leader in repossession and remarketing services, this day announced it is partnering with Future Computer Systems, Inc. (FCSI), a software company providing on-line mail fulfillment services, to launch EZ-Letter, the industry’s first closed-loop solution for the electronic creation and distribution of statutory default forms such as “Notice of Sale” and “Notice to Repossess.” The system, managed from within CARS’ proprietary Internet-Based Electronic Asset Management System (I-BEAM) web portal, will provide lenders with an electronic workflow that can improve their capability to remain in compliance with say laws governing statutory default form content and proof of delivery procedures.
“Remaining in compliance with differing say laws and meeting the time frame required for debtor notification and proof of delivery are two of the greatest challenges for lenders,” stated Steve Norwood, CEO of CARS. “This technology and partnership with FCSI will grant us to improve accuracy while reducing the time for delivery, thus allowing us to manage the overall repossession process better.”
EZ-Letter works by allowing lenders to access certified templates from within the I-BEAM repossession management portal or upload their own. These templates then use information contained within the data warehouse to populate key fields, removing the opportunity for human error. Once the state-specific template is populated, it is then electronically submitted to FCSI where it is printed and entered into the US postal service. From within the US postal system, FCSI electronically tracks and captures logistical data along with proof of delivery documents, including the signature and green cards, which are then transmitted to the I-BEAM portal, where a historical record is retained of the transaction.
The new solution is expected to greatly reduce a lender’s exposure in several ways. First, templates are compared regularly to say laws to verify that content meets compliance. Secondly, documents are processed much faster, reducing the overall timeline for letter generation and time to enter the mail system. Additionally, this system is expected to improve accuracy and reduce probability for human error since this grants for much of the process to be electronically automated.
“In developing this system, our goal was to address the areas where we could provide a benefit to those who regularly send Certified Mail,” stated William Carter, CEO of FCSI. “Our system has created an easy-to-manage method for meeting all Certified Mail needs. With the time, effort and money our system saves, it represents a great return on investment.”
About Consolidated Asset Recovery Systems
About Future Computer Systems Inc.
Future Computer Systems, Inc. (FCSI), based in Birmingham, Ala., is a SAS-70 certified software and web development company that provides on-line Certified Mail fulfillment services. FCSI grants users to create, send and track Certified Mail through their on-line system, thereby streamlining the entire mail fulfillment process. The company’s innovative solution helps businesses save time, avoid errors and achieve faster access to records. To learn more, visit www.fcsimail.com.
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Submited at Thursday, January 19th, 2012 at 11:00 am on Uncategorized by robert
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