Concord Servicing has acquired Equiant, an industry-leading loan servicer in the vacation ownership market. Based in Chandler, Arizona, the company’s $1.5 billion loan portfolio includes more than 175,000 individual consumer loans. Equiant offers software solutions and servicing expertise for loan account receivables, billing, collateral document management, backup servicing, securitizations, debt recovery and disaster recovery.

As the loan servicing industry continues to consolidate, leaders at Concord and Equiant see this acquisition as the catalyst that will help them drive strategic growth – and serve their customers more efficiently and effectively.

“Equiant’s sophisticated self-service tools, in addition to the company’s robust credit card offering, complement Concord’s strength and expertise in collections and compliance,” said Shaun O’Neill, Concord Servicing Chief Revenue Officer. “As two leading loan servicers, we’re combining our individual strengths to achieve synergies in operations, enhance our products and services, and deliver industry-leading performance for our customers.”

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“We are excited to leverage Concord’s strong position and significant investments in their platform to help accelerate our diversification strategy,” said Peter Moody, Chief Business Development Officer at Equiant. “Benefitting from Concord’s competitive success in both shared and new industry verticals, we will accelerate our initiatives in vacation ownership, home improvement, capital markets, health care and the subscription business.”

The companies, effective immediately, will function under one leadership team led by Jason Alexander, Concord CEO. They will also look to fully consolidate US operations under one roof within the next 120 days and will continue to be headquartered in Scottsdale.

About Concord Servicing

Concord is a leading full-scope loan servicer in the home improvement, residential solar, vacation ownership and more, delivering compliant, flexible, and scalable portfolio servicing solutions to meet the demands of loan originators and capital providers – and their customers. For more than three decades, Concord has delivered award-winning financial technology and support for unparalleled performance, accuracy, and flexibility. Concord serves clients globally and operates facilities in the United States and Mexico. Website: http://www.concordservicing.com

About Equiant

Equiant is one of the United States’ leading structured finance servicers with a portfolio that exceeds $1.5 billion and includes more than 175,000 individual consumer loans. Its array of financial products and services includes loan receivables and maintenance fee servicing on a fully hosted web platform, PaaS receivables technology, point of sale merchant processing with PCI Level I compliance, document custody (including digital), back-up servicing plans, integrated payments, integrated reporting, integrated communications and now integrated contact center tools for early-stage recovery and delinquency control. For more information about Equiant’s industry-leading receivables servicing and financial technology, visit www.equiant.com.