van Wagenen Financial Services Coordinates Programs to Boost Loan Processing Efficiency
MINNEAPOLIS — van Wagenen Financial Services recently
confirmed participation in the Symitar Vendor Integration Program.
Officials highlighted this development will directly benefit
lenders managing auto loans on the Symitar core processing system by increasing
the efficiency of auto loan payment adjustments.
The company insisted the integration coordinates insurance
placement and core system technologies to enable automated recalculation of
borrower payments on accounts requiring lender placed insurance policies.
"Any opportunity to increase efficiency is a benefit to our
lender clients," said Jeff Anderson, van Wagenen's vice president of sales for auto
Finance. "Automating the recalculation process eases the resource burden and
minimizes opportunity for error in adjustments."
Anderson and his team work with a broad range of auto
finance companies from buy-here, pay-here dealers all the way to the captive
finance companies.
Already van Wagenen is one of the largest trackers of auto
loan insurance. Anderson emphasized the automated recalculation capability can
add further value to any lender utilizing the Symitar core processing system.
When tracking reveals an insurance deficiency which remains
uncured and a lender-placed policy becomes necessary, the payment recalculation
step is tied conveniently into the processing system.
The Symitar Vendor Integration Program announcement comes on
the heels of several auto finance focused product introductions for van
Wagenen.
"The auto market is core to our business model. We are
moving swiftly to increase offerings and build a portfolio as an all around
provider for our clients," van Wagenen vice president and general manager Randall
Rempp said.
Continue the conversation with SubPrime Auto Finance News on LinkedIn and Twitter.
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