Atlanta, GA, April 06, 2020 – Resolvion, a leading skip tracing and repossession management company, today announced the availability of a new service designed to help lenders manage the flood of deferral/modification requests and, at the same time, better manage the emerging default risk caused by the COVID-19 crisis.
The COVID-19 Risk Manager program involves proactive outreach to a lender’s highest risk borrowers. Once contact has been established, Resolvion collects information that is vital for the lender to assess/manage the current risk. The questionnaire can be tailored to lender requirements but generally includes:
- Updated address and phone contact information
- Current status of business operations
- Location and condition of collateral
- Current use of the collateral
If desired by the lender, Resolvion can also advise the customer of options that the lender may make available as a result of COVID-19 disruption of the customer’s business.
In addition to the base service, Resolvion can also provide deep skip tracing, nationwide collateral verification services as well as coordinate any voluntary repossession activity that arises from the customer contact.
“One of the biggest challenges we see lenders facing in this crisis is navigating the need to support customers in need with the requirement to prudently manage portfolio risk. We think that the COVID-19 Risk Manager program provides a powerful set of tools to lenders to help meet the challenge”, says Michael Levison, CEO of Resolvion.
Resolvion was recently formed through the merger of ALS-Resolvion and Del Mar Recovery Solutions. Resolvion is one of the nation’s leading loss mitigation management firms with a team of 450 associates serving a growing base of over 200 clients, including 40 of the top 50 auto finance providers. The company services include recovery, skip tracing, license plate recognition, heavy equipment, impound and remarketing. Resolvion, along with its 750 recovery agents, handle close to a million cases annually using our leading technology platform and a comprehensive compliance program including monitoring and training. Our promise to our clients is simple — Better Results, Lower Risk. Resolvion is headquartered in Atlanta GA with additional operations Carlsbad CA, Charlotte NC, Las Vegas NV, and Shelton CT. For more information, visit: www.resolvion.com.