Insights Articles

Managing Risk: Understanding Your Service Providers’ Insurance Coverages

Managing Risk: Understanding Your Providers' Insurance Coverages

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

repo assignment 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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4 Factors Affecting the Repossession Industry

4 factors affecting repossession infographic

There are 4 factors that cause current and future constraints in the repossession industry that impacts auto lenders, repossession management companies, and recovery agents. Over the next decade, these factors will continue to put pressure on the industry. Increasing State and Federal Regulation: The repossession industry has undergone tremendous change over the last ten years…

 
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Equipment Repossession: 4 Steps to Picking the Right Agent

equipment repossession

Initial Agent Vetting Anytime you have to repossess collateral, the lender assumes meaningful risk.  Courts have found repeatedly that lenders are responsible for the acts of their sub-contractors. This is why the initial agent vetting process is so important. As one of the top nationwide heavy equipment repossession management companies, we’ve vetted thousands of recovery…

 
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Personal Property Handling: The Issues and Costs

personal property handling

Note:  The article was written by ALS Resolvion with the input and data provided by the American Recovery Association.   Over the past year, there has been a great deal of discussion about the fees related to the removal and storage of personal property. The issue has resulted in significant changes by most lenders as…

 
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Using Data Analytics to Predict Auto Repossession Success

Using data analytics

Written by Steve Schroeder as part of the ALS Resolvion Insights Series Statement of the Problem Several factors converge to cause current and future constraints in the repossession industry that will impact lenders, forwarders (also known as repossession management companies) and agencies alike. These factors will continue to increase in relevance over the next five…

 
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Repossession Compliance: Mobile Platforms Put the Goal Line In Sight

Repossession Compliance Mobile Platforms

Anyone that has been involved with the repossession industry over the past several years knows that the world looks very different today than pre CFPB. Most of the focus during this period has been on 3rd and 4th party oversight. Given the CFPB’s official position on vendor management, it is no longer acceptable to rely…

 
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