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.
DRN’s Virtual Showcase in October 2020 brought together leaders from across the vehicle financing industry to discuss various issues and trends affecting their businesses, including both short- and long-term impacts of the COVID-19 pandemic. We focused time on credit unions with several representatives of that industry and other finance experts.
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
At Used Car Week 2020, I talked with Zach Hallowell from Manheim Digital Solutions about both the challenges and opportunities we observed and experienced across the auto lending and repo industries during COVID-19. One key factor we discussed was how much the pandemic has changed buyer behavior. Zach talked about
The buy here pay here (BHPH) market has traditionally relied on GPS to find vehicles with defaulted loans. Unfortunately, it’s become relatively easy for borrowers to tamper with or disengage GPS systems, making them only somewhat effective in tracking down vehicles. This is where license plate recognition (LPR) technology comes
Partnership History: Premier Members Credit Union, based in Boulder, Colorado, began its partnership with DRN in 2017 after hearing success stories from other lenders. DRN’s Location Alerts tool quickly became an important piece in PMCU’s vehicle repossession process and one they relied on heavily as they expanded into other states.
License plate recognition (LPR) technology has been an important tool for the auto finance industry for decades, helping lending, collection, repossession, and insurance professionals track down vehicles and owners. DRN pioneered the unique combination of LPR data paired with powerful analytics to build full vehicle stories to help solve lending,
More than 300 enterprise lenders nationwide are using DRN’s Historical Data to lower their charge-offs and increase their recovery rates. If you’re looking to do the same, why not give it a try? DRN collects more than 220 million vehicle license plate scans every month, covering two-thirds of the U.S.
All DRN clients receive training on the DRNsights suite when they begin using our platform. This includes both how-to’s for Address Scoring, Location Reports, Location Alerts and Loss Alerts, but also demos of and education about what these products can do for their business. We also offer ongoing training as
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
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.
DRN’s Virtual Showcase in October 2020 brought together leaders from across the vehicle financing industry to discuss various issues and trends affecting their businesses, including both short- and long-term impacts of the COVID-19 pandemic. We focused time on credit unions with several representatives of that industry and other finance experts.
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
At Used Car Week 2020, I talked with Zach Hallowell from Manheim Digital Solutions about both the challenges and opportunities we observed and experienced across the auto lending and repo industries during COVID-19. One key factor we discussed was how much the pandemic has changed buyer behavior. Zach talked about
The buy here pay here (BHPH) market has traditionally relied on GPS to find vehicles with defaulted loans. Unfortunately, it’s become relatively easy for borrowers to tamper with or disengage GPS systems, making them only somewhat effective in tracking down vehicles. This is where license plate recognition (LPR) technology comes
Partnership History: Premier Members Credit Union, based in Boulder, Colorado, began its partnership with DRN in 2017 after hearing success stories from other lenders. DRN’s Location Alerts tool quickly became an important piece in PMCU’s vehicle repossession process and one they relied on heavily as they expanded into other states.
License plate recognition (LPR) technology has been an important tool for the auto finance industry for decades, helping lending, collection, repossession, and insurance professionals track down vehicles and owners. DRN pioneered the unique combination of LPR data paired with powerful analytics to build full vehicle stories to help solve lending,
More than 300 enterprise lenders nationwide are using DRN’s Historical Data to lower their charge-offs and increase their recovery rates. If you’re looking to do the same, why not give it a try? DRN collects more than 220 million vehicle license plate scans every month, covering two-thirds of the U.S.
All DRN clients receive training on the DRNsights suite when they begin using our platform. This includes both how-to’s for Address Scoring, Location Reports, Location Alerts and Loss Alerts, but also demos of and education about what these products can do for their business. We also offer ongoing training as
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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