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Improving Financial Results From Impound Recovery

improving financial results with impound recovery

Effective management of impound repossessions is challenging.  Impound yard operators are notorious for being difficult and, in many cases, unscrupulous operators.  The entire process consists of several unconnected parts and requires specialized expertise to handle effectively. If not handled properly, the process can be extremely expensive, or even worse, can result in the loss of your…

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LPR Management – The Key to Faster Auto Repossessions

lpr management of vehicles

If you ask a handful of repossession managers about their top goals, it would be recovering more cars, lowering the average days to repossession, speeding up vehicle auction sales, and reducing overall costs. Outside of remaining compliance, most repossession and loss mitigation managers are focused on these metrics. There are many ways to accomplish these…

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LPR Staging – Faster Recoveries, Higher Yields and Lower Costs

lpr staging

Over the past several years, the use of LPR technology has had a huge impact on auto recovery rates.  As the use of LPR has grown, lenders, forwarders and agents have gotten progressively better in using the data to improve performance and efficiency.   However, there is still one strategy for optimizing the use of…

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22 Repo Industry Statistics, Trends & Analysis

Repo Industry Statistics

Article from: https://brandongaille.com/22-repo-industry-statistics-trends-analysis/   The repo industry is involved in the business of repossession. When consumers default on a loan, such as a car loan, then a lien on that item can be activated. The consumer can be ordered to turn the product over because of the lien. Most owners refuse to do so. That’s…

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Managing Risk: Understanding Your Service Providers’ Insurance Coverages

insurance managing risk

There are few actions that a lender takes that has more potential for legal claims than a vehicle or collateral 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 the service provider indemnifies your institution in…

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Repo Assignment Management Strategy – A Summary of Best Practices

As one of the largest repossession management firms in the country, we work with most of the largest auto lenders in the country.  Doing so has given us deep insight into the strategies deployed by different lenders.   With many leading lenders, this strategy has been highly refined over the years and is constantly being tweaked…

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7 Insurance Requirements for Heavy Equipment Repossession

7 Insurance Requirements for Heavy Equipment Repossession

Proper insurance coverage is critical when it comes to repossessing heavy equipment collateral such as trailers, dozers, trucks, and related vehicles in construction, farming, and transportation. As one of the leading nationwide equipment repossession companies, the suggested coverage and amounts are more than sufficient to cover any situation. In the case that a heavy equipment…

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Vendor Scorecarding Techniques to Improve Collateral Recovery Results

vendor scorecard techniques

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…

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