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.
Resolvion Welcomes Mike Thomas as New Chief Executive Officer
FOR IMMEDIATE RELEASE Resolvion Welcomes Mike Thomas as New Chief Executive Officer Charlotte, NC, April 1, 2024 – Resolvion, a premier provider of repossession management solutions, is pleased to announce the appointment of Mike Thomas as its Chief Executive Officer. With a distinguished career in the financial services sector, Thomas brings to Resolvion…
Webinar: Optimizing Repossession Results Through Effective Vendor Score Carding
Nothing impacts repossession results more than setting up effective competition between your vendors using well-constructed vendor scorecards. The score card techniques used by major vendors have evolved significantly over the past few years, incorporating both recovery and compliance performance. This webinar recording will review several different approaches used by leading lenders and will provide insights…
Personal Property and Redemption Practices by Auto Lenders
Did you know that over 40% of lenders don’t allow repo agents to charge fees directly? We recently asked over several auto lending institutions to participate in a survey that covered the scope of allowable fees and institution practices. Over 50 institutions provided information on personal property and redemption. The results were very interesting! We want…
Pre-Charge Off Skip Trace – Is It Worth The Money?
Available industry data is clear, if a repossession agent has not recovered a vehicle within 30 days of working it properly, the recovery rate after that point is typically in the 6%-9% range. This reality provides a strong incentive to rotate the assignment to a different provider in order to improve the likelihood that a…
How Repo Agents Evaluate Lenders & Forwarders – A Look Into an Agent’s Metrics
Guest Author: Jeremy Cross President at International Recovery Systems Recently, I have had the opportunity to travel to various repossession related events, and in attendance were many lenders, agents and forwarders. Of the many conversations that took place, and there sure is a lot of them, one kept popping up- how do you evaluate…
Vendor Score Carding Strategies for Auto Lenders
We recently surveyed over 100 lenders to gauge different score carding strategies. The survey results were very informative and gave insight into different techniques used by auto finance lenders of all sizes. We were surprised that over 20% of lenders don’t allocate market share based on vendor score cards! Our survey consisted of questions regarding…
Personal Property & Redemption Fees: A HOT Topic in Auto Repossession
Over the past year, the handling of personal property and redemption fees has become one of the hottest compliance topics in the industry. It is on the radar screen of virtually every auto lender in the country, as well as the regulators. Most of this interest is sparked by CFPB concerns over disparate treatment of…