In auto finance loss mitigation, outcomes are decided by visibility and speed. Lenders are under constant pressure to locate collateral sooner, verify its condition faster, and recover it before storage fees and depreciation erode value. Yet impound discovery has traditionally been slow, manual, and paper-driven, creating delays that drive avoidable losses and operational drag.
That is precisely what DRN and Loanbridge are changing through a new strategic partnership. By integrating Loanbridge’s nationwide impound and resale intelligence into DRN’s Monitoring, Verification, and Recovery (MVR) solution, beginning with Impound Monitoring, lenders gain broader coverage and earlier, near-time alerts on at-risk vehicles. Combined with DRN’s automated workflows and MVTRAC and SCM recovery execution, the partnership delivers a single end-to-end path from detection to verified decisioning to coordinated recovery. The result is a more proactive, data-driven loss mitigation approach that reduces friction for lending teams and protects asset value earlier in the default cycle.
Addressing Lenders' Biggest Pain Points
The most pressing challenge lenders face, according to Joe Farley, is the manual process of handling impound alerts (01:59). This traditional, mail-based system causes delays, incurs additional costs, and makes the recovery process inefficient. Each day a vehicle sits in impound increases storage fees, depreciation risk, and the probability of a suboptimal recovery path.
Alex Wilham emphasized that the goal is to help lenders “stay ahead of the information curve” by moving away from the slow, paper-driven industry (02:50).
Connected Intelligence: The Game Changer
The power of this new collaboration lies in providing real-time or near-time alerts directly to the decision-makers.
- Real-Time Data: DRN monitoring combined with Loanbridge impound and resale data flags at-risk VINs earlier in the cycle.
- Automation and AI: Loanbridge’s AI agent contacts lots directly to confirm condition, fees, and status without manual follow-up.
- MVR Solution (Monitor, Verify, Recover): With Loanbridge integrated into Monitor, the MVR chain now starts with broader and faster impound visibility.
- Monitor: Getting the real-time digital alerts.
- Verify: Using a third-party appraiser to give a real valuation and 50-point inspection of the asset, preventing the recovery of high-damage, low-value vehicles (05:47).
- Recover: Finalizing the recovery seamlessly.
This single-source solution (06:13) allows lenders to be proactive and even customer-centric, reaching out to a customer early in the cycle before impound fees spiral out of control (10:11).
Preparing for the Future
For lenders looking to save costs, maximize efficiencies, and recover abandoned assets, the integrated MVR solution is a “plug and play” answer (13:49). It provides necessary data and takes the heavy lifting off the lender’s team, whether for early collections or deep skip accounts.
This partnership is committed to continuous innovation, leveraging AI to move beyond mere reaction and toward proactive identification and prediction of potential losses (20:02).
Watch the full podcast to hear Joe Farley and Alex Wilhelm unpack how DRN and Loanbridge are reducing recovery friction, accelerating impound resolution, and raising the bar for data-driven loss mitigation. To explore what the integrated MVR approach could look like for your portfolio, connect with our team or download the MVR sell sheet.