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Green Tree Credit Solutions Increases Collection Rate by 25 Percent Using Latitude Software
By: Business Wire
Jan. 24, 2013 10:00 AM
Green Tree Credit Solutions and its affiliate company, Landmark Asset Receivables Management, have reported a significant improvement in collection recovery rates as a result of deploying the debt collection solution from Latitude Software, an Interactive Intelligence Group Inc. (Nasdaq: ININ) company.
“Latitude’s custom workflows and account analysis features have helped us increase our collection recovery rate by 25 percent,” said Green Tree’s vice president of ARM operations, Mark Foley.
Green Tree and Landmark achieved these results by using the debt collection product, Latitude Center, to determine whether or not an account should be pursued based on factors such as location, regulations and bankruptcy filings. This maximized the productivity of collectors, while uncovering additional revenue opportunities.
“Latitude Center has ensured that our collectors work on only the most productive accounts, while helping us identify opportunities in our portfolio that we didn’t even realize existed,” Foley said.
Green Tree initially chose the Latitude Center product for its open architecture and user-friendly interface, according to Foley. “Latitude Center’s open architecture was critical because it enabled us to create custom workflows tailored for specific products and clients,” he said. “And unlike our previous system that required collectors to memorize codes for recording call outcomes, dispositions and follow-up, Latitude Center provided drop-down menu options, which meant significant reductions in both training and call handle times.”
When Green Tree created its affiliate company, Landmark, it extended its Latitude Center deployment and sees it growing even more in the coming years.
“Latitude Center’s flexibility can help us move beyond our mortgage line of business into other collection areas such as credit cards and auto loans,” said Landmark’s senior managing director, Ken Frye.
In addition to Latitude Center, Green Tree and Landmark are using the Latitude Automation Suite, Latitude Exchange, and Latitude Web Access. These applications provide functionality for planning collection workflow processes and account treatment strategies; rapidly developing and executing data import and export jobs between disparate systems; and sharing real-time reporting and account information between the client and its customers via a secure Web portal.
“The Latitude product line’s flexibility, comprehensiveness and ease-of-use have made it easier for us to get to where we wanted to go as a company,” Foley said. “We’re now more in control of managing our portfolio, plus we can move into other lines of collection business, both of which give us a major competitive advantage.”
About Green Tree Credit Solutions
Green Tree has been servicing consumer mortgage loans for more than 30 years. It has experience servicing a wide range of asset types, such as residential mortgages, second liens, HELOCs, consumer installments and the nation's largest portfolio of manufactured housing loans. Green Tree combines innovative mortgage servicing solutions with superior client service to exceed the expectations of clients. The company has 3,000 employees across 29 locations and is headquartered in St. Paul, Minn. For more information, visit www.gtservicing.com.
About Latitude Software
Latitude Software, an Interactive Intelligence Group Inc. (Nasdaq: ININ) company, provides debt collection software and services. Latitude has hosted and on-premises solutions that are easy to use and offer comprehensive functionality for faster, more effective debt collection and portfolio recovery. The Latitude software suite is built using the latest Microsoft .NET development tools and Microsoft SQL server database technologies. Latitude was founded in 1997 and serves more than 200 companies nationwide. Latitude is headquartered in Jacksonville, Fla. and can be reached at 866.396.2599, email@example.com; on the Net at www.latitude-software.com.
About Interactive Intelligence
Interactive Intelligence Group Inc. (Nasdaq: ININ) is a global provider of contact center, unified communications, and business process automation software and services. The company’s unified IP business communications solutions, which can be deployed on-premises or via the cloud, are ideal for industries such as financial services, insurance, outsourcers, collections, and utilities. Interactive Intelligence was founded in 1994 and has more than 5,000 customers worldwide. The company is among Forbes Magazine’s 2011 Best Small Companies in America and Software Magazine’s 2012 Top 500 Global Software and Service Providers. It employs more than 1,400 people and is headquartered in Indianapolis, Indiana. The company has offices throughout North America, Latin America, Europe, Middle East, Africa and Asia Pacific. Interactive Intelligence can be reached at +1 317.872.3000 or firstname.lastname@example.org; on the Net: www.inin.com.
This release may contain certain forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially are described in the company's SEC filings.
Interactive Intelligence is the owner of the marks INTERACTIVE INTELLIGENCE, its associated LOGO and numerous other marks. All other trademarks mentioned in this document are the property of their respective owners.
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