HARRISON, N.Y. -- Garnet Capital is proud to announce that, in addition to its many existing certifications, it has earned the Certified Receivables Vendor (CRV) designation for Broker Services from the Receivables Management Association International (RMAI).
RMAI’s Receivables Management Certification Program (RMCP) offers certifications for debt buying companies, collection agencies, collection law firms, and the vendors that provide services to them. RMCP’s certifications are intentionally designed to cover the full life-cycle of an account receivable to ensure uniform rigorous consumer protection standards follow a consumer account from origination through final disposition.
“Earning the Certified Receivables Vendor designation is a significant achievement,” said RMAI Board President Marian Sangalang. “Garnet has demonstrated its commitment to adhering to rigorous consumer protection and professional standards that not only meet but often exceed state and federal regulatory requirements. Certified businesses such as Garnet set the global standard for the receivables management industry.”
“Garnet is pleased to have earned this important certification,” said Louis DiPalma, Managing Partner at Garnet Capital. “This continues Garnet’s commitment to be the industry leader in secure, compliant and well-documented debt sales."
The CRV broker designation is granted to businesses that comply with rigorous standards concerning compliance, background checks, insurance, data security, vendor management, broker agreements, transactional due diligence, and establishing buyer and seller prerequisites. The expansion of the RMCP to include brokers allows RMAI to provide a “single compliance footprint” to the receivables management industry by touching on every stage of the debt lifecycle.
For more information about RMAI’s Certified Receivables Vendor Program, or to download an application, please visit RMAI’s website at www.rmaintl.org/certification.
Garnet Capital Advisors, LLC is a fifteen-year-old New York-based financial-services firm specializing in managing loan-portfolio sales for banks, credit unions, finance companies, and other credit grantors. Garnet has vast experience in the loan-sales industry and has managed the sale of over $100 billion of financial assets in 1000+ client transactions. Garnet Capital provides career-length expertise and intensive, cradle-to-grave advisory services across the full range of asset types and performance categories.
Receivables Management Association International (RMAI) is a nonprofit trade association that represents more than 500 companies that purchase or support the purchase of performing and nonperforming receivables on the secondary market. The Receivables Management Certification Program and Code of Ethics set the global standard within the receivables industry due to its rigorous uniform industry standards of best practice which focuses on the protection of the consumer.