In July of 2023, when Concord Servicing acquired Equiant, its major competitor in timeshare loan servicing, Concord President Shaun O’Neill predicted both company’s clients would benefit. “Before, there were advantages developers could get from Concord, such as our expertise in collections and compliance, and reasons why they liked Equiant, such as their self-service platform and payment technology,” he said. “Now, our clients will be able to access all the leading technology and industry expertise under one banner.”
With the acquisition complete, the synergies are even better than anticipated. “Our team has really come together, and I’m very excited to share the enhanced array of products and services Concord now provides to our vacation ownership clients,” says Ericka Schwarm, vice president of business development. “I encourage developers, management companies, and independent resorts attending the upcoming American Resort Development Association convention to meet with us and see how Concord can support their success.”
Although loan servicing solutions will always be Concord’s main focus, the firm also provides industry-leading backup servicing, document custody (both physical and electronic), loan validation and auditing, payment processing, and collections services. For those looking to service their own accounts in-house, Concord can assist with technology that creates operational efficiencies in loan servicing and customer service. “By partnering with Concord, developers can ensure they are following best practices for data security, regulatory compliance, and cash flow optimization, regardless of whose employees are handling the work,” Schwarm says.
Although Concord concentrates on the timeshare industry, it also serves multiple specialty loan markets, including the fast-growing solar and energy efficiency markets. “This also benefits our timeshare clients as Concord can leverage best practices from other verticals to enhance our offerings for all of our clients,” O’Neill adds.
To learn more about how Concord can accelerate your company’s growth, set up a meeting during the ARDA conference by contacting Ericka Schwarm at eschwarm@concordservicing.com.
About Concord Servicing: For more than three decades, Concord has delivered award-winning financial technology and loan servicing support with unparalleled performance. With more than 3 million active accounts and $16 billion in assets under Concord’s management, the company serves clients in the United States and Mexico with scale and innovation. As a leading full-scope loan servicer in the home improvement, residential solar, energy services, and vacation ownership industries, Concord delivers compliant and flexible portfolio servicing solutions that meet the demands of loan originators and capital providers – and their customers. For more information, visit http://www.concordservicing.com.
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