Hunter Warfield Collection Rate Up 17% in 2006

Hunter Warfield, Inc. (HWI), a firm specializing in collections in the multi-housing industry, announced today that fine-tuning the collections process along with the implementation of instant payment software triggered a 214% increase in immediate debtor payments.

The 2006 year-end tallies also indicate a 17% overall liquidation increase from the previous year. This client revenue growth emerges as a direct result of Hunter Warfield’s continuing efforts to increase the overall collections process by investing in its people, advanced technology and a clear corporate focus. In particular, the bulk of success can be accredited to the development of new software technology that interfaces with Hunter Warfield’s collection process. The new instant payment interface enables instantaneous approval and acceptance of debtor payment. Shortening the cycle on debt collection directly impacts Hunter Warfield’s clients because it provides a more cost-effective means to promptly recover their assets. Since the interface has been operational, the number of returned checks from bad debtors has been cut in one-half.

"To be the best we have to collect more than anyone else. All our efforts are focused on this," said Stephen Sobota, Founder and Chief Executive Officer of Hunter Warfield and multi-housing collections veteran. "It’s a marriage of people, experience and technology."

The instant payment interface is not the only solution being employed to maximize results. Clients are also reaping the benefits of integrating collections into property management software. Premier Hunter Warfield client, Camden Property Trust, one of the largest multifamily real estate investment trusts (REITs) in the nation, has efficiently integrated Hunter Warfield’s collections process with its property management software to improve liquidation and increase production.

"Submission of accounts is now a process of our software based resident move out procedure," said Beth Baney, Property Services Manager of Camden Property Trust, which owns interests in and operates 186 properties, encompassing 63,843 apartment homes spanning from Washington, D.C. to California. "Hunter Warfield’s advanced technology practices and better employee education and training has definitely facilitated in the way they collect more of our money, and it has been shown in higher liquidations."

Camden Property Trust’s delinquent accounts are set-up to transmit electronically to Hunter Warfield with a click of a mouse. After move out, Camden property managers from coast to coast can simply click a box to denote a need for collections. The software automatically completes a nightly compiling of residents flagged for collections and queues the necessary collection information for download by Hunter Warfield. The seamless software integration provides the client a simpler way to recover delinquent rent.

"By providing Hunter Warfield with our accounts as soon as they are delinquent, they can start working them to immediately increase our chances of collecting more money faster," said Baney. "Since this is now an automated electronic transfer of information rather than a paper one, this is dramatically improving production time at site level for our teams."

With improved financial accuracy and accountability, Hunter Warfield is able to immediately process client accounts. This, in combination with the instant payment process, translates into better collection results and increased account liquidation. With client loyalty in mind, Sobota summarized that "by investing in the latest technology, it enables us to further our clients’ success."