First Associates, Inc. Announces Successful SAS 70 Audit

SAN DIEGO, Feb. 23 /PRNewswire/ -- National loan servicer First Associates, Inc. today announced its successful completion of an SAS 70 Type II audit.

SAS 70, or the Statement on Auditing Standards No. 70, is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA), used to report on the processing of transactions by service organizations. One of the many advantages of an SAS 70 audit is that it allows First Associates' controls and operations to be independently verified by an unbiased third party, ensuring clients that all customer information is securely maintained and thoroughly protected. Through the successful completion of the SAS 70 Audit, First Associates also assists its publicly-held clients who are required to comply with the Sarbanes-Oxley Act of 2002, by providing transparency into First Associates' internal control objectives.

"At First Associates, the security of our clients' information has long been a top priority, reflected in every financial transaction we undertake," says Doug Henkel, CEO of First Associates, Inc. "We have consistently received industry recognition for exceeding high performance standards and quality customer support, and we are proud to report that our internal control structure and security processes have also been independently recognized and verified, without exceptions."  The SAS 70 Type II Audit was completed by an independent accounting firm, to ensure that high operational standards are in place for both First Associates' internal controls as well as its outsourced servicing functions.

For specific information regarding First Associates' SAS 70 report results, please contact Alexa Del Pilar at (858) 451-2444, extension 333.  For more information about First Associates products and services, go to www.1stassociates.com.

About First Associates

First Associates, Inc. is one of the nation's premier consumer loan servicing firms. Headquartered in San Diego, CA, First Associates serves financial institutions, private equity groups, government agencies and other consumer finance entities. In addition to offering clients the value of experienced professionals and exceptional technology, First Associates is 100% dedicated to loan servicing and does not lend or outsource other functions.  For more information about First Associates, visit their website at www.1stassociates.com.

SOURCE First Associates, Inc.