Best Practices and Pitfalls in Back-up Servicing Today

Larry Chiavaro
Executive Chairman
Paramount Servicing Group

Larry Chiavaro, Executive Chairman of Paramount Servicing Group, is a dynamic executive with over 35-years’ experience in identifying and developing growth in the consumer finance industry and one of the recognized experts in the loan servicing industry.

On August 1, 2024, Larry’s firm and ECN Capital Corp, made a strategic investment and purchased the majority of the stock in Paramount Capital Group, dba Paramount Servicing Group, and will join as Executive Chairman, where he will work with the senior management team operating the company and assisting the sales group to become the #1 servicer in the US.

In 2020, Larry created First Associates Advisors, a boutique advisory company assisting Asset Managers, Lenders, and Investment Banks on matters of whole loan sales, capital raising, credit facilities, strategic initiatives, and servicing matters, where he met ECN Capital.

Since early 2021, Larry has been a Senior Strategic Advisor to his premier client, ECN Capital Corp. and advises on various items ranging from overseeing third party servicing partners and backup servicing vendors, recruiting key executives, assisting in the whole loan and capital markets activities, advising senior management on key business issues, and sourcing potential acquisitions.

Before this role, Larry was Co-Founder and Executive Vice President of First Associates Loan Servicing later re-branded as Vervent in 2020, building the company into the largest 3rd party consumer loan servicer in the U.S. from 6 employees to over 900, and successfully selling to a private equity firm in July 2019, successfully exiting in late 2020.

Larry’s professional network runs deep with many C-Level relationships throughout many asset managers and investment leaders in North America and is a recognized speaker and moderator at many industry conferences and events.

Larry has also held leadership positions for Household/HSBC Auto Finance, NovaStar Mortgage and GE Capital, where Jack Welch, the legendary CEO of General Electric, recognized him for his record-setting production.