Financial
Allied Finance Adjusters Challenges Agents to Clean Up Industry
Monday, Apr. 5, 2010, 12:59 PM
Auto Remarketing
SAN ANGELO, Texas — In preparation for its 74th annual training conference and seminar this week in San Diego, the president of the Allied Finance Adjusters Conference reiterated points that have been echoed by recovery agents from throughout the country. George Badeen issued a message to the conference's membership and anyone involved with repossessing vehicles about […] [Read More]
Does LPR Compromise Consumer Privacy?
Monday, Mar. 29, 2010, 01:00 PM
Nick Zulovich
PALATINE, Ill. — Recent published reports included comments from consumer groups about how license plate recognition technology used by recovery agencies could be compromising privacy. However, a pair of LPR technology providers and a well-respected industry legal adviser all refuted these claims. One provider, MVTRAC, used its two decades of recovery and remarketing experience to create […] [Read More]
Is Repossession Reality TV?
Monday, Mar. 29, 2010, 12:59 PM
Patrick Altes
DAYTONA BEACH, Fla. — To the professionals in the repossession industry — and yes there are hundreds of them in this business — there's nothing funny or entertaining about Operacion Repo, so-called "reality TV." Although it slips by pretty quickly in the credits, it has a disclaimer up front that the scenes are staged, coyly referring to them […] [Read More]
ARA Highlights Success of Recent Summit
Monday, Mar. 29, 2010, 12:58 PM
Auto Remarketing
DALLAS — The American Recovery Association deemed its recent North American Repossessors Summit a triumph as hundreds of recovery agencies and industry service providers gathered for a two-day event of constructive dialogue. The sold-out summit on March 13 and 14 drew more than 300 attendees who participated in various panel discussions and listened to speakers from […] [Read More]
Whitacre: GM on Course to Repay Loans by June
Monday, Mar. 29, 2010, 03:59 AM
Auto Remarketing
DETROIT — Ed Whitacre, chairman and chief executive officer of General Motors, said late last week that his company plans to make its second quarterly loan payment to the U.S. Treasury and Export Development Canada on Wednesday, ahead of schedule. More specifically, Whitacre said, "In keeping with our commitments to the U.S. and Canadian and Ontario taxpayers, […] [Read More]
National Creditors Connection Adds Two Account Managers
Thursday, Mar. 25, 2010, 01:55 AM
Auto Remarketing
LAKE FOREST, Calif. — National Creditors Connection, a field contact, loss mitigation, on-site inspection and debt recovery services company, recently hired two new account managers. Coming on board are Dan Lozier of Arizona and Shawn Bondy of North Carolina. NCCI officials explained that both Lozier and Bondy will be tasked with developing new business from mortgage […] [Read More]
CAG Analytics Releases Third Round of Results
Tuesday, Mar. 23, 2010, 01:55 AM
Auto Remarketing
CARY, N.C. — Cherokee Automotive Group Analytics released the last results of its initial three-part study today. Of the participants surveyed, 57 percent are in the remarketing industry, while 33 percent are in both the remarketing and repossession industries. About 10 percent are just in the repo industry. When asked what is the most critical part […] [Read More]
Is Repossession the Only Option?
Monday, Mar. 22, 2010, 02:00 PM
Steve Norwood
RALEIGH, N.C. — Given a choice, every lender would prefer to keep the debtor in the vehicle. Once an asset goes out for repossession, the outcome is usually a loss that must be charged off. Even in today's booming used-car market and with the higher asset valuations lenders are experiencing at auction, the likelihood that a lender will […] [Read More]
Westlake Launches New Division to Acquire Portfolios from BHPH Dealers, Lenders
Monday, Mar. 22, 2010, 01:59 PM
Auto Remarketing
LOS ANGELES — Westlake Financial Services announced late last week that it has created a new division to will specialize in portfolio acquisition services. The new division, called Westlake Advanced Lending & Portfolio Services, was created to expand the company's product offerings and provide a new source of liquidity for the automotive financial market, according to […] [Read More]
Is There a Need for More Legislative Representation in the Recovery Industry?
Monday, Mar. 15, 2010, 01:00 PM
Art Christensen
UNION, N.J. — One of the most important questions facing the recovery industry today is whether there is a need for more government intervention. Most recovery agents believe state regulation is a double-edged sword. Many dislike and disagree with government intervention, but no one can deny the fact the recovery industry is at a crossroads that […] [Read More]