IRVINE, CA - NWP Services Corporation (NWP), the leading provider of financial transaction processing solutions for the multifamily housing industry, today announced the formation of a special service unit for Customer Income Management and Protection (CIMAP) comprised of an experienced response team that assists customers, financial institutions, trustees and owners of multifamily properties that have or are facing default and/or foreclosure situations with a rapid response service designed to gain immediate control and protection over property income management and cash flow.
"The impact of the current economic climate and credit crisis affecting customers and their lenders creates a need to have a resource they can turn to, to protect and manage property income streams in difficult situations," stated Michael Radice, president and CEO of NWP Services Corporation. "In most situations the ability to maintain property level control over these vital income programs is made more difficult with local property staff departures or new on-site staff arriving unfamiliar with these types of programs. The creation of this NWP service is in direct response to the needs of customers and financial institutions needing fast-track implementation to gain control over ancillary income programs and essential resident billing, rent collection, utility billing, utility cost recovery and collection and utility bill payment processing, activities that are the life-blood of a property's cash flow and income stream," added Radice.
Headquartered in Irvine, California, NWP Services Corporation (NWP) serves the multifamily housing industry as its leading financial transaction processing provider. NWP is known for its industry expertise delivering proven results and exceptional quality in resident billing, resident payment processing and utility management.
Resident billing by NWP helps property owners offset their utility expenses. The company's utility cost recovery team allocates utility charges to residents and prints and sends the bill; NWP's billing options now include convergent - or "rent-inclusive" - billing through its Resident OneBill service. Complementing its billing services, the company's electronic resident payment processing service, called Resident ePay, enables residents to pay their rent, utilities and other monthly charges online or at the rental office with funds transferred to the property's bank account electronically. Resident ePay gives residents convenience and choice and enables owners to access cash faster. In addition, with its UtilityPay Manager program, NWP processes and pays invoices sent to customers' properties by utility companies. UtilityPay Manager helps customers reduce time spent on administrative bill payment work and provides them with valuable utility data and additional cost management opportunities, including recovering expenses from residents when they fail to transfer utilities into their own name.
Source: NWP Services Corporation