How the “riskiest of the risky” auto loan portfolios become a lot more attractive with collectability insights powered by vehicle location data. I recently spoke on a technology and operations panel at the Debt Buyer’s Association annual conference in Las Vegas. The debt buyers in the audience shared two major
Last month in Fort Worth, DRN gathered 20 executives from the top auto lenders across the country for the second annual DRN Lender Roundtable. And while lenders also enjoyed a night out at the rodeo watching the country’s top bull riders, the issues competitive issues facing the lenders are no
Diversify your portfolio with auto debt using vehicle location data for collectability. By Stephen Nethery Auto debt doesn’t rank high on most Debt Buyers scorecards. But what many don’t realize is that they may be missing out on collectable portfolios that can drive results and revenue. Why does auto debt
Could the secret to better returns on your auto loan portfolios be a “to-don’t” list? As the year comes to a close, we often write our list of resolutions for the New Year. We decided to change it up and give you a “what not to do” list instead. Here
Flat-Rate Vehicle Location Data Helps You Prevent CFPB Fines. The CFPB (Consumer Financial Protection Bureau) is cracking down on Disparate Treatment and Disparate Impact and here’s the rub: you can get into hot water even if the disparate treatment or impact is unintentional. In simplistic terms, the CFPB is saying
Why Traditional Collections for Non-Traditional Loans Doesn’t Work. Imagine a perfect collections world – a world where all loans, subprime and prime, were paid on time. Admittedly that’s a fantasy scenario, yet we are seeing collections departments that live in a similar fantasy world – a world where tradition equals
Value-Based Pricing Opens New Possibilities for Collections & Recovery FORT WORTH, TX 10/20/2015 – Digital Recognition Network (DRN) (www.drndata.com) announced the launch of their new Enterprise Solution, a value-based subscription model for all-you-can-eat access to vehicle location data. Auto lenders rely on DRN’s vehicle location data to recover more assets
Why your new Best Practice should be using vehicle location data to reduce charge-offs. Insanity is doing the same thing over and over again and expecting the same results. Yet, that’s exactly what we are seeing with many auto lenders who turn to us for help. They employ the same
Attention Auto Lenders: Use ROI to drive data investments and reduce charge-offs. In our last blog we talked about John’s loan and the power of new vehicle location data insights in collections. We learned how using LPR data early in the collections cycle provides valuable insights to help prevent charge-off
Change the outcome that will lead to lower charge-off losses and increase ROI on your portfolio. Let me introduce you to John. John lost his job and was no longer able to make payments on his loan. John did not notify you, the lender, therefore resulting in the situation below. Let me
How the “riskiest of the risky” auto loan portfolios become a lot more attractive with collectability insights powered by vehicle location data. I recently spoke on a technology and operations panel at the Debt Buyer’s Association annual conference in Las Vegas. The debt buyers in the audience shared two major
Last month in Fort Worth, DRN gathered 20 executives from the top auto lenders across the country for the second annual DRN Lender Roundtable. And while lenders also enjoyed a night out at the rodeo watching the country’s top bull riders, the issues competitive issues facing the lenders are no
Diversify your portfolio with auto debt using vehicle location data for collectability. By Stephen Nethery Auto debt doesn’t rank high on most Debt Buyers scorecards. But what many don’t realize is that they may be missing out on collectable portfolios that can drive results and revenue. Why does auto debt
Could the secret to better returns on your auto loan portfolios be a “to-don’t” list? As the year comes to a close, we often write our list of resolutions for the New Year. We decided to change it up and give you a “what not to do” list instead. Here
Flat-Rate Vehicle Location Data Helps You Prevent CFPB Fines. The CFPB (Consumer Financial Protection Bureau) is cracking down on Disparate Treatment and Disparate Impact and here’s the rub: you can get into hot water even if the disparate treatment or impact is unintentional. In simplistic terms, the CFPB is saying
Why Traditional Collections for Non-Traditional Loans Doesn’t Work. Imagine a perfect collections world – a world where all loans, subprime and prime, were paid on time. Admittedly that’s a fantasy scenario, yet we are seeing collections departments that live in a similar fantasy world – a world where tradition equals
Value-Based Pricing Opens New Possibilities for Collections & Recovery FORT WORTH, TX 10/20/2015 – Digital Recognition Network (DRN) (www.drndata.com) announced the launch of their new Enterprise Solution, a value-based subscription model for all-you-can-eat access to vehicle location data. Auto lenders rely on DRN’s vehicle location data to recover more assets
Why your new Best Practice should be using vehicle location data to reduce charge-offs. Insanity is doing the same thing over and over again and expecting the same results. Yet, that’s exactly what we are seeing with many auto lenders who turn to us for help. They employ the same
Attention Auto Lenders: Use ROI to drive data investments and reduce charge-offs. In our last blog we talked about John’s loan and the power of new vehicle location data insights in collections. We learned how using LPR data early in the collections cycle provides valuable insights to help prevent charge-off
Change the outcome that will lead to lower charge-off losses and increase ROI on your portfolio. Let me introduce you to John. John lost his job and was no longer able to make payments on his loan. John did not notify you, the lender, therefore resulting in the situation below. Let me