Many lenders had to cut staff due to COVID-19 when business shutdowns and government moratoriums on debt collections drove collection volumes down. As lockdowns and other restrictions have lifted and collections and recovery activity has rebounded, lenders who reduced headcount in 2020 are facing the flip-side of that challenge: they
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
I joined several other members of the Auto Intel Council at the Auto Intel Summit in May. The Council is a private organization that includes the leading intelligence companies in the automotive space. We talked about the latest developments in auto fintech as well as digital retail and remarketing innovations.
Last month I helped wrap up the Weltman, Weinberg & Reis webinar series on auto loan recovery. Weltman is a Cleveland, Ohio-based collections law firm. The first webinar focused on the early stages of auto recovery. You can read my recap and link to the blog replay here. In the
I recently joined Scott Weltman, Amy Holbrook and Stefanie Collier from Weltman, Weinberg & Reis, a Cleveland, Ohio-based collections law firm, for a two-part webinar series on auto loan recovery. The first session focused on the early stages of auto recovery. Scott asked me to discuss when and how DRN
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
Many lenders had to cut staff due to COVID-19 when business shutdowns and government moratoriums on debt collections drove collection volumes down. As lockdowns and other restrictions have lifted and collections and recovery activity has rebounded, lenders who reduced headcount in 2020 are facing the flip-side of that challenge: they
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
I joined several other members of the Auto Intel Council at the Auto Intel Summit in May. The Council is a private organization that includes the leading intelligence companies in the automotive space. We talked about the latest developments in auto fintech as well as digital retail and remarketing innovations.
Last month I helped wrap up the Weltman, Weinberg & Reis webinar series on auto loan recovery. Weltman is a Cleveland, Ohio-based collections law firm. The first webinar focused on the early stages of auto recovery. You can read my recap and link to the blog replay here. In the
I recently joined Scott Weltman, Amy Holbrook and Stefanie Collier from Weltman, Weinberg & Reis, a Cleveland, Ohio-based collections law firm, for a two-part webinar series on auto loan recovery. The first session focused on the early stages of auto recovery. Scott asked me to discuss when and how DRN
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