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Post-Pandemic Credit Union Trends

I talked recently with Joel Bowen, President of the California Credit Union Collectors Council (CCUCC). He shared his perspective on the state of credit unions as we continue to emerge from the pandemic. As we’ve heard from other lenders, delinquencies in general are down since the spring of 2020 when COVID-19’s effects were first felt in the U.S. In California, involuntary repossessions are very low as consumers are able to pay off debts because of stimulus checks, higher unemployment payments and rent or mortgage forbearance.  Another trend Joel discussed is that loans that were past-due before COVID-19 are an even

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The Value of LPR Staging with MVTRAC

To understand LPR staging, it’s best to look at repossession assignments as two different types (active and passive). An active assignment is a typical assignment a lender would give to a repossession vendor. The repossession vendor is actively looking for the vehicle based on location data provided by the lender.

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Part 3 of Auto Recall Blog: Making Contact with Vehicle Owners

Once a valid owner and address have been confirmed, the next challenge comes with making successful contact with the individual. Beyond traditional methods of mailed notices and even phone calls, innovative, multi-channel strategies are needed to reach owners and encourage them to take action. One industry expert said, “Having a

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The Challenges of Auto Recalls

Finding Vehicle Owners A number of factors present challenges when it comes to completing a repair on a recalled vehicle part. One of the greatest ones lies with the seemingly basic step of locating the vehicle. Why is this so difficult?  Address data decays at a rate of 2% a

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How Data and Innovation Are Solving Auto Recall Challenges

In October last year, we hosted our first-ever DRN Virtual Showcase, which brought together experts from across the auto recall industry to discuss how effective and creative use of data and communication can improve auto recall completion rates. Our panelists included:  Angel Preston – Formerly Director, Safety, Alliance for Automotive

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Employee Spotlight: Kristi Flores

Questions 1. What makes you proud to work at DRN? I love how much we support each other. We work together as a team and we are able to get many different perspectives on everything we do. It really contributes to our team’s successes and enables us to help our

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Powerful Stories of LPR Data in Insurance & Other Investigations

DRN’s first-ever Virtual Showcase brought together experts from across the auto industry to discuss perspectives, trends and best practices for using license plate recognition (LPR) data to solve various challenges and drive success. One section of the agenda focused on the auto insurance piece of the industry, specifically on how

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Lenders Use a People-Centric Approach Through Pandemic

At DRN’s Virtual Showcase in October 2020, we hosted leaders from across the auto lending industry to discuss how their organizations weathered the COVID-19 pandemic. Our team of experts included: Danielle Arlowe – SVP, American Financial Services Association (AFSA) Chuck Blommaert – VP Loan Servicing, Flagship Credit Acceptance Anthony Capizzano

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