Jormandy Becomes Certified Debt Buyer
Jormandy, LLC, announced today that it has earned the highly-regarded designation of Certified Receivables Business (CRB) after fulfilling the comprehensive national standards contained in Receivables Management Association International’s certification program. These standards have been recognized for exceeding state and federal laws and regulations through a series of stringent requirements that stress responsible consumer protection through increased transparency and operational controls.
“I would like to recognize Jormandy for earning the significant achievement of becoming a Certified Receivables Business,” said RMAI Board President Jim Mastriani. “This milestone demonstrates Jormandy’s commitment and desire to protect consumers by committing to standards that meet or exceed both state and federal requirements. RMAI’s Receivables Management Certification Program sets the gold standard of best practice in the receivables management industry.”
The CRB designation is granted to debt buying businesses who comply with rigorous standards addressing such items as account documentation, chain of title, consumer complaint and dispute resolution, statute of limitation compliance, vendor management, credit bureau reporting, resale, and other relevant operational procedures. Individual Certified Receivables Compliance Professional designation is required for each certified business’s chief compliance officer.
“We are very proud to announce that Jormandy has reached CRB status,” said Kaye Dreifuerst, president of Security Credit Services, which acquired Jormandy in January. “Receiving this certification is a testament to the hard work of everyone at the organization and to the priority we place on protecting creditors and consumers alike.”
Compliance with the CRB standards are monitored through independent third party audits as well as through a structured self-compliance audit process. For more information about RMAI’s
Receivables Management Certification Program, or to download an application, please visit RMAI’s website at www.rmaintl.org/certification.
About Jormandy LLC
Jormandy LLC, founded in 1998 and based in Norfolk, Va., purchases delinquent receivables and specializes in servicing past-due debts across the Commonweath of Virginia. Jormandy conducts business with only the most trusted and reputable sellers, holds a strong commitment to fair business practices and serving the needs of their customers. Jormandy is owned by nationally known and trusted investment firm, Security Credit Services (SCS). SCS is owned by a privately held investment firm, EquiPro Holdings, based in Oxford, Miss. www.jormandy.com.
About Receivables Management Association International (RMAI)
Receivables Management Association International (RMAI) is a nonprofit trade association representing more than 570 companies that purchase or support the purchase of performing and nonperforming receivables on the secondary market. The RMAI 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.
More information about RMAI is available at https://rmaintl.org/.