The second-ever Re3 Conference has new elements this year, including several simultaneous breakout sessions aimed at drilling down into a specific repossession, recovery or remarketing topic. One cluster of those sessions includes: —John Lewis, of Intellaegis, with a presentation titled, “Compliance and Your Responsibilities and Liabilities in Collections, Skip Tracing, Data and Technology.”            […] [Read More]

The MVTRAC Recovery Industry Advisory Board formally announced the implementation of new strategic policies regarding MVTRAC’s business model and associated operations. Members explained the new initiatives were the result of an extensive development and review process, then unanimously voted and later ratified into action at MVTRAC’s annual advisory board meeting. The changes to MVTRAC’s model […] [Read More]

A regulatory filing with the Securities and Exchange Commission confirmed that DriveTime Automotive Group its shareholders and certain affiliates entered into definitive agreements with Santander Consumer USA. Officials from the group that mainly caters to subprime buyers explained that DT Acceptance Corp. and its subsidiary, DT Credit Co., will sell its finance receivable portfolio, which […] [Read More]

Iowa attorney general Tom Miller recently announced one of the state’s independent dealers has agreed to stop what was alleged to be illegal repossessions of vehicles. In an agreement with the consumer protection division, called an assurance of discontinuance, Miller alleged that Goldy’s Auto of Ottumwa, Iowa, illegally attempted to have customers waive their rights […] [Read More]

Recovery Industry Services Co. recently learned the Illinois edition of the Certified Asset Recovery Specialist certification program has been approved by the Illinois Commerce Commission, the agency responsible for enforcement of the new Illinois Collateral Recovery Act. RISC highlighted that Illinois is the third state to endorse the CARS program as “home study,” with Florida […] [Read More]

Comerica Bank's Auto Affordability Index showed the purchase and financing of an average-priced new vehicle took a little less of median family income during the second quarter. Analysts placed the Q2 level at 22.9 weeks, as Comerica indicated that consumers on average spent roughly the same amount on new models in the second quarter as […] [Read More]

Renovo Services recently announced that it has successfully completed a SSAE 16 (Service Organization Control) 1 Type II audit, which examines the effectiveness of internal controls supporting Renovo Services' asset recovery and remarketing business. Company officials declared SSAE 16 is the new auditing standard developed a year ago by the American Institute of Certified Public […] [Read More]

One of the many highlights of the second-ever Re3 Conference not only is designed to recap how this year is playing out in the repossession, recovery and remarketing industries, but also to project how 2013 might unfold. Set to be a part of a session titled, “Remarkable Remarketing & Repossessions: The Industry’s Finest Share Their […] [Read More]

In the latest step of the Hertz-Dollar Thrifty deal announced last month, Hertz Global Holdings said Monday that it has initiated a cash tender offer to buy all outstanding shares of Dollar Thrifty Automotive Group’s common stock. The two companies entered a definitive merger agreement on Aug. 26, as reported previously in Auto Remarketing.   [Read More]

Dealer Services Corp., of Indiana promoted its regional director to a new position on Monday. As the company’s new vice president of operations, Alan Lang will be responsible for leading the company’s market portfolio strategies and field operational structure.  “DSC is committed to providing unparalleled support to our field representatives and the markets they serve,” […] [Read More]