Field Asset Services Announces Formation of Vendor Advisory Council

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Field Service Experts to Help Shape Vision and Strategic Direction of Vendor Relationship Best Practices for Industry Leading Property Preservation Provider

"FAS is continually looking for new ways to improve upon current processes and the VAC is a good example. This can only lead to higher quality and better working relationships." Larry Scott, Cypress REO Services

Field Asset Services (FAS), the nation’s leading provider of field services to the REO industry, today announced the formation of its Vendor Advisory Council (VAC) to build greater alignment between FAS and its vendor community. The VAC will provide the Company with instrumental guidance in the areas of responsiveness, predictability, quality, turn times, bid response rates and technology adoption.

“FAS’s vendor network serves as the “eyes and ears” in the field so it’s critical that we are able to openly communicate with them on a day-to-day basis,” said Dale McPherson, President and CEO of Field Asset Services. “Through the VAC, we’ll be able to improve our communication and provide our vendors with the right tools, incentives and training necessary to get their jobs done quickly and with the highest quality. We’re thrilled to have the Vendor Advisory Council in place and look forward to working with them in the future.”

To create its Vendor Advisory Council, FAS brought together a cross-section of vendors nationwide. These vendors have agreed to make a 1-year commitment to the Advisory Council by participating in quarterly meetings and action groups to research and oversee a specific topic area focused on improving process flow and relationship building. In addition to driving these new vendor-related initiatives, the Council will also be utilized as mentors for FAS’s vendor network to help strengthen the knowledge of FAS’s new and existing vendors.

FAS Advisory Council member Larry Scott of Cypress REO Services has been a FAS vendor for nearly a year. In that short time, he has grown his business from 5 employees and 3 vehicles to 29 employees and 16 vehicles servicing 600 lawns on a recurring basis and performing 100 initial cleans and trash-outs per month.

According to Scott, “I attribute the success of Cypress REO Services to our relentless focus on quality. This philosophy is in direct alignment with FAS’s mission to deliver the highest standards of quality to their customers. For this reason, I am honored to be part of FAS’s Vendor Advisory Council. FAS’s foresight to create the VAC is a perfect example of how they are continually looking for new ways to improve upon current processes. This philosophy can only lead to greater quality and better working relationships, and in the end, higher levels of customer service. I look forward to working closely with FAS and the other vendors to bring new and innovative methods to FAS’s working relationships with the vendors.”
Over the last 16 years, FAS has created a network of more than 13,000 seasoned contractors and vendors nationwide. Through the implementation of advanced workflow practices, technological processes and initial and on-going training programs, FAS handles every detail of the vendor relationship, enabling FAS’s customers to focus on managing their business, not their properties. For more information about FAS’s Vendor Relationship Management Practice, please visit http://www.fieldassets.com.

About Field Asset Services
Field Asset Services (FAS) is the premier Property Preservation, REO Maintenance and Repair Services company in the United States, servicing more than $10.8 billion in residential assets on behalf of its clients. FAS works with 26 mortgage and asset management clients nationwide, servicing more than 120,000 active properties on a recurring basis. For more information about FAS, please visit http://www.fieldassets.com.

About FirstService Corporation
FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U) is a global diversified leader in the rapidly growing real estate services sector, providing services in commercial real estate, residential property management and property services. Industry-leading service platforms include Colliers International, the third largest global player in commercial real estate services; FirstService Residential Management, the largest manager of residential communities in North America; and TFC, North America’s largest provider of property services through franchise and contractor networks.

FirstService generates over US$1.8 billion in annualized revenues and has more than 18,000 employees worldwide. More information about FirstService is available at http://www.firstservice.com.

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Suzanne Tormollen
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