Chandler, Arizona (Nov. 11, 2019) – Since migrating to Equiant’s loan servicing platform, Great Eastern Resorts Corp. has transformed its loan servicing department. “A year ago, we couldn’t call every account within a month, now we can contact every account in a day if we need to,” says J. Michael Stover, developer loan servicing manager for the Charlottesville, Virginia-based resort operator and developer. “In addition, using Equiant’s eqDashboard, we can track results in real time, giving us a better handle on performance across all metrics.”
Great Eastern, the developer of Massanutten Resort, began by adopting Equiant’s PaaS (Platform as a Service) loan servicing modules in 2018. “We saw an immediate benefit in our ability to monitor accounts,” Stover says. “Also, the support we receive from the Equiant team means there’s always someone available to assist us with any questions we may have.”
As an example, Stover explains that Great Eastern offers certain new owners the option of refinancing their loan at zero percent interest with a one-year payment plan. “Before it was a struggle for our agents to make changes to accounts, but Equiant created a custom module that allows us to do it quickly and easily.” The refinancing program means many Great Eastern owners pay off their loans faster, so they are less likely to have a late payment affect their ability to vacation. “It’s always our goal to have our owners vacation with us every year, so they can enjoy family time and build lifelong memories,” he says.
“I’ve been pleasantly surprised by how enthusiastic our entire staff has been about the change,” Stover says. “It really makes their jobs easier, dialing the numbers for them and then automatically pulling up account information. It even pulls up owners’ account information when they call us, so our agents can be productive as soon as they answer the call.”
Training was simplified by Equiant’s eqLearning platform, and Stover reports that he frequently logs in for answers to technical questions. “It’s not something you’ll only use when you’re new to the system, there’s really a wealth of information there to help you understand all the capabilities that Equiant’s tools provide,” he adds.
“Our goal is always to delight clients by providing the resources they need in the way they prefer to receive them,” says Peter Moody, chief business development officer. “We continually invest in our staff, technology and systems so that we can deliver excellence while servicing a wide range of receivables at a compelling fee structure. Great Eastern’s success confirms that our tools can help developers get the results they’re looking for.”
Equiant is one of the United States’ leading structured finance servicers with a portfolio that exceeds $1.5 billion and includes more than 175,000 individual consumer loans. Its array of financial technology products and services includes loan receivables and maintenance fee servicing on a fully hosted web platform, PaaS receivables technology, point of sale merchant processing with PCI Level I compliance, document custody (including digital), integrated payments, integrated reporting, integrated communications and now integrated contact center tools for early stage recovery and delinquency control. To learn more about Equiant’s industry-leading security and receivables servicing, call Peter Moody at (480) 636-4888 or visit www.equiant.com.