Recovery Database Network Names Channel Management Director
FORT WORTH, Texas — Recovery Database Network recently announced that it has hired industry veteran with more than two decades of loss mitigation experience to serve as channel management director. Taking on the position is Kathleen Toal.
RDN is a specialized provider of software and data solutions focused on mitigating losses in the auto finance industry.
"Our Web-based solutions are interactive and can easily integrate with widely used legacy collection systems in order to improve processes, efficiency and productivity in all aspects of the asset recovery, titling and disposition process" explained Todd Hodnett, chief executive officer and co-founder of RDN.
"As more and more financial institutions have begun to integrate our software solutions into their operation, the time has come for us to expand our management team to further support our growing base of financial institutions," he continued. "With Kathy's years of experience in this industry, she will be a great addition to our team."
As channel management director, Toal will be responsible for supporting the servicing needs and expanding the service offerings for all of RDN's existing base of financial institutions.
She brings with her an extensive loss mitigation background beginning with retail collection management in 1982. She moved to banking in 1985 with PNC, a Northeastern regional bank, as vice president and manager of its consumer loan collection operation. She served there for 10 years and her role included asset recovery and disposition.
Toal also worked with EDS as a client services manager, supporting the auto loan servicing needs of upward of 24 large and community banks. Following EDS, Toal worked for GMAC, managing loss mitigation operations for its home equity portfolio, as well as the loan servicing for a half dozen banks and investment portfolios.
Most recently, Toal was vice president with Wells Fargo Auto Finance, as a manager in the division's loss mitigation collateral recovery and servicing operations.
"My 25 years of loss mitigation experience servicing nearly 30 different bank, financial and investment company portfolios uniquely qualifies me to support the needs of the financial institutions that RDN supports," Toal said.
"As consumers continue to feel the impact of rising interest rates on their family cash flow, financial institutions will see higher default rates than they have experienced in recent years. In order to remain profitable and provide valuable services to their shareholders and customers, financial institutions will need to keep a tight control on their losses and expenses," she added.
"RDN's software solutions add value in a way that positively impacts the loss exposure and expenses associated with automobile lending by adding efficiency and reducing the expenses associated with collateral recovery, titling and disposition. I am looking forward to working with Todd and his partner Jeff Koistenen on this new and exciting challenge," she concluded.
For more information, call (817) 204-0298 Ext. 2, e-mail email@example.com or visit the RDN Web site at www.recoverydatabase.net.