Repo Storage Capacity – Ultimately the Lenders Problem

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The repo industry is facing an increasingly challenging issue: limited storage capacity for repossessed cars. While this may seem like a problem for repossession agencies alone, it ultimately affects the lenders, who need the vehicles recovered. This article delves into the root causes of this issue, the economic impact on repossession agents, and how repossession…

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Improving Repossession Results Through Deeper Data Analysis

Data analytics has become a driving force in many industries in today’s economy. However, the application of “big data” analytics in the repossession industry has not kept pace. This is due to several challenges, including operational fragmentation, lack of centralization of relevant data, and low prioritization of the issue within many lending organizations. Overcoming these…

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Press Release – Resolvion Partners with AKUVO

Resolvion partners with AKUVO Platform Charlotte, NC , November 6, 2023 – Resolvion, an industry leader in national repossession management, skip tracing, remarketing, license plate recognition, heavy equipment and specialty recovery, announced today a partnership with AKUVO and its Collections & Portfolio Analytics platform, Aperture. As an integrated repossession service provider, the partnership will provide…

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Vendor Scorecarding Techniques to Improve Collateral Recovery Results

vendor scorecarding

From our position as a national repossession management firm in the industry, we have been exposed to virtually every type of vendor scorecard model in use. Some of these models focus solely on recovery performance, while there are some that focus deeply and more diligently on regulatory/SOW compliance. Regardless of the depth of the scorecard…

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Optimizing Repossession Results Utilizing AI and Big Data

optimizing repo results ai and big data

The characters in “The Wizard of Oz” ultimately learn that the items they had been seeking — courage, a heart, and a brain — were with them all along. They just needed to look inside themselves and realize the situations they had faced helped reveal those characteristics they thought they did not have. As Glinda…

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Personal Property Practices – A Summary of a Recent Lender Survey

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In the Fall of 2016, the Consumer Financial Protection Bureau issued their Supervisory Highlights which illuminated their opinions on the issue of charging borrowers for personal property inventory, removal and storage. Ever since, the lending and repossession world has been in a flux over how to manage the dirty, dangerous and unpleasant duty. To be…

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Recovery Challenges in a Post-Pandemic World

Recovery Challenges in Post Pandemic

Emerging from the fear and panic of COVID-19, we find ourselves staring down the red-hot barrel of a post pandemic world. Inflation, material supply shortages and stubborn unemployment issues are present everywhere. The American economy is under strain, but for many in those industries who were struggling long before the scourge of COVID-19, these issues…

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Repossessions and Bankruptcy: What the Fulton decision means for turnover

Repossession and Bankruptcy

  Written by: Rudy Cerone at McGlinchey Original Source:   The February Supreme Court decision in City of Chicago v. Fulton was widely celebrated in the lending community because the court found that a lender who repossesses a vehicle before a borrower files for bankruptcy is not in violation of the “exercise control” provision of the Bankruptcy…

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Repossession Compliance & the Biden Administration: What Can We Expect?

repo compliance biden administration

President Joe Biden’s nomination of Rohit Copra, as the new Director of the CFPB, may bring new challenges to lenders, forwarders and agents if he is confirmed. All will likely have to navigate through intensifying regulatory challenges, according to Hudson Cook partner Eric Johnson, who described the confluence of factors coming together to create a…

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