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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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Blog

Everything is bigger in Texas, even Risk Scoring

One of our most innovative clients is a large, Dallas-Fort Worth, Texas-based subprime lender that began using DRNsights in 2019 as part of their collections and repossession processes. They achieved a significant uptick in overall recovery rates because the DRNsights vehicle location data was being taken into consideration at the

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Lender Roundtable Offers Insights on Lenders’ Use of LPR Data

In October, DRN hosted a golf tournament for lenders at Whistling Straits in Kohler, Wisconsin. The event brought auto lenders together to network, share best practices and learn more about DRN. This year’s event included a roundtable where lenders discussed challenges they’re currently facing as the economy – and our

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How Repwest Succeeds Using LPR Data for U-Haul

As North America’s premier commercial license plate recognition (LPR) data provider, we offer the richest data set and analytics available. For insurers, our extensive database of 18 billion license plate scans – which include addresses and date/timestamp – can play a major role in fraud cases from vehicle location to

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The Evolution of Risk Scoring

The Sooner, the Better: How Risk Scoring Became a Powerful Pre-Repo Tool DRN data has long been used in collections and repossessions to find more vehicles faster. We believed this data could be just as powerful for lenders as they scored loans and considered when to assign a vehicle for

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Pre-Repo Risk Scoring is a Win-Win for Lenders & Borrowers

One of DRN’s first enterprise clients was a large automotive captive finance company. They were long-time users of  DRNsights’ vehicle location data in their repossession processes but wanted to brainstorm how they might use it pre-repo to make better repo decisions. We partnered with this client  to pull DRN data

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Protecting Your Property and Your Business with LPR

DRN participated in the Loss Prevention Research Council IMPACT Conference earlier this month. This virtual event brought together retailers and providers of security and anti-theft solutions. As a relatively new player in the loss prevention space, it was a great opportunity for us to learn about how our license plate

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Supporting Repossession During COVID-19

Everyone has felt the impact of the COVID-19 pandemic, and DRN is no different. We had to shift gears quickly to adjust to changes in the industry, including: Fewer cars on the road due to stay-at-home orders and business/school closures (meaning fewer vehicle scans); Lenders deferring payments and repossessions by

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DRN Discusses Location Data Trends Ahead of Virtual AIS

DRN’s Jeremiah Wheeler, EVP and General Manager, joined a recent discussion on the Auto Remarketing Podcast. Jeremiah provided perspective on how the COVID-19 pandemic has affected location data gathering and how DRN had to quickly shift its strategy and processes to maintain the volume of data needed to meet ongoing

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How DRN Can Power Your Post-Pandemic Reopen Strategy

As our nation begins to move slowly toward recovery from the COVID-19 shutdown, businesses are shifting their focus from the financial and other implications of temporary closures. The new focus is on developing “Reopen Strategies” that will allow our industry to slowly push toward normalcy. DRNsights data can play a

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