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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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Effective Impound Management Strategies

Effective Impound Management

An impounded vehicle is a ticking time bomb. From the moment the vehicle is towed into an impound yard until the moment it is recovered, the clock is ticking. And with every passing second, more money is being lost and more headaches are being created. The fractured nature of the impound industry, from tax notifications…

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Part I of recovery commentary: Skip-tracing strategy and measuring value

Author: Joel Kennedy, NAF Association Source: SubPrime Auto Finance News   Editor’s note: This commentary is the first in a series compiled by Joel Kennedy, who is the current president of the National Automotive Finance Association and Chief Operating Officer at TruDecision, looking at the intricacies of repossessions and recovery. The industry that locates borrowers and…

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From the editor: A crisis facing repossession agents

a crisis for repo agents

Article from: SubPrime Written by: Nick Zulovich   DALLAS – While the overall automotive industry might be relatively healthy, no doubt there are dealerships struggling with aged inventory, auctions stressed to keep commercial consignors satisfied and finance companies wringing their hands over compressed margins and wavering portfolio performances. But if you would please indulge me…

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Improving Financial Results From Impound Recovery

impound recovery

Effective management of impound repossessions is challenging.  Impound yard operators are notorious for being difficult and, in many cases, unscrupulous operators.  The entire process consists of several unconnected parts and requires specialized expertise to handle effectively. If not handled properly, the process can be extremely expensive, or even worse, can result in the loss of your…

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LPR Management – The Key to Faster Auto Repossessions

lpr management

If you ask a handful of repossession managers about their top goals, it would be recovering more cars, lowering the average days to repossession, speeding up vehicle auction sales, and reducing overall costs. Outside of remaining compliance, most repossession and loss mitigation managers are focused on these metrics. There are many ways to accomplish these…

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LPR Staging – Faster Recoveries, Higher Yields and Lower Costs

Over the past several years, the use of LPR technology has had a huge impact on auto recovery rates.  As the use of LPR has grown, lenders, forwarders and agents have gotten progressively better in using the data to improve performance and efficiency.   However, there is still one strategy for optimizing the use of…

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22 Repo Industry Statistics, Trends & Analysis

Repo Industry Statistics

Article from: https://brandongaille.com/22-repo-industry-statistics-trends-analysis/   The repo industry is involved in the business of repossession. When consumers default on a loan, such as a car loan, then a lien on that item can be activated. The consumer can be ordered to turn the product over because of the lien. Most owners refuse to do so. That’s…

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Managing Risk: Understanding Your Service Providers’ Insurance Coverages

repossession insurance

There are few actions that a lender takes that has more potential for legal claims than a vehicle or collateral repossession. Ensuring that your service providers have the right types and amounts of insurance coverage is critical to managing the risk.  While your contracts may be clear that the service provider indemnifies your institution in…

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