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.
Personal 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…
Personal 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…
Forwarders Role in Repossession, Recovery, and Remarketing
Original Source: Auto Remarketing Written by: Nick Zulovich at Cherokee Media Group Resolvion Executive Vice President Jose Mendiola didn’t mince words when asked by SubPrime Auto Finance News about what it’s been like for forwarding companies and other operations associated with recoveries since the pandemic began. “Repossessions being off almost 50% has put a…
Optimizing 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…
Recovery 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…
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…
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…