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…
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: 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…
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…
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…
Resolvion Launches Recovery Plus, A Seamless Repossession, Inspection, Valuation and Remarketing Service
Charlotte, NC, January 04, 2021 – Resolvion, one of the nation’s leading equipment repossession management firms, has expanded its services to provide customers with a comprehensive solution to equipment recovery and liquidation needs. This “end-to-end” program, called Recovery Plus includes Resolvion’s core repossession services as well as detailed inspections, equipment valuation, and remarketing. Certain services will…
Are Your Repossession Agents Properly Insured?
Source: Monitor Daily There are few actions that a lender takes that have more potential for legal or damage claims than a vehicle or equipment repossession. Ensuring that your service providers have the right types and amounts of insurance coverage is critical to managing the risk. While your contracts may be clear that…