Insights Articles
Best Practices in Repossession Management: Insights from Leading Lenders
As one of the nation’s largest repossession management firms, we collaborate with many of the major auto lenders, giving us a comprehensive view of a wide range of repossession strategies. Among leading lenders, repossession strategies are refined continuously to optimize outcomes. In contrast, some lenders maintain less effective strategies, which is often evident in their…
Read MoreUnraveling the Confusion Around License Plate Recognition (LPR)
Over the past several years, the use of License Plate Recognition (LPR) technology has emerged as a driving force in the repossession industry. It has become an indispensable tool to lenders, forwarders and agents in the quest for improved recovery rates. At the same time, the LPR industry has gone through massive change. The…
Read MoreRepo Storage Capacity – Ultimately the Lenders Problem
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…
Read MoreImproving 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…
Read MorePress 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…
Read MoreBetter Data, Better Results: Using More Precise Data to Increase Repossession Efficiency
In modern business, AI and big data have become increasingly prevalent. And for the most part, this data has proven to be invaluable when it comes to decision-making and process improvements. This could not be more accurate in the world of automotive repossessions. As a repossession management company, Resolvion is able to use this data…
Read MoreVendor Scorecarding Techniques to Improve Collateral Recovery Results
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…
Read MoreOptimizing Repossession Results Utilizing 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…
Read MorePersonal Property Practices – A Summary of a Recent Lender Survey
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…
Read MoreRecovery Challenges in a Post-Pandemic World
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…
Read More