Resolvion Insights

At Resolvion, we believe that an important part of our role is to provide our clients with insights into current issues and best practices. To that end, we write articles, sponsor research, survey best practices and host industry events. Visit this section of our site regularly for updates.

Repossession and Bankruptcy

Repossessions and Bankruptcy: What the Fulton decision means for turnover

  Written by: Rudy Cerone at McGlinchey Original Source: https://www.autofinancenews.net/allposts/auto-finance-excellence/compliance/repossessions-and-bankruptcy-what-the-fulton-decision-means-for-turnover/   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 and Bankruptcy

Repossessions and Bankruptcy: What the Fulton decision means for turnover

  Written by: Rudy Cerone at McGlinchey Original Source: https://www.autofinancenews.net/allposts/auto-finance-excellence/compliance/repossessions-and-bankruptcy-what-the-fulton-decision-means-for-turnover/   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…
repo compliance biden administration

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

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…
vendor scorecarding

Vendor 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…
remarketing repossessions

Remarketing Repossessions: Speed and Technology Makes a Difference

      Source: https://www.monitordaily.com/opinion-posts/remarketing-repossessions-speed-and-technology-makes-a-difference/   Fast, effective recovery and remarketing of equipment tied to defaulted loans can make a huge difference in the net recovery on those loans.  Fortunately, recent advances in recovery technology, valuation methodologies and remarketing through digital platforms are allowing lenders to recover and liquidate assets in record time and, in…
redemption takebacks

The Growing Concern Surrounding Redemption Takebacks

As American Recovery Association (ARA) Executive Director Les McCook summarized the situation of takebacks, “it’s a can of worms.” “For many years, if we picked up a car in Waco, Texas, they moved it to an auto auction in Dallas and people had to go to Dallas to get their car back. It was no…
repo alliance

The Repo Alliance: An Attempt to Standardize the Repo Industry

Exclusively written for Resolvion by Janina Burnell.   The repossession industry has been forced to act to protect itself in the current climate, intensified by the recent pandemic. The Repo Alliance is a fundraising body that brings together several groups looking to serve a common interest. It started out with the American Recovery Association (ARA) and has…