Oakland, CA – July 25, 2014 – An angry man upset that his car was being repossessed opened fire on the repossession agent in Oakland Friday, prompting a long standoff with police before he surrendered.
Dodd-Frank is now 4 years old and there are two questions that need to be asked by the professional repossession company. Where are we going, and what’s next? These are simple questions, yet the answers can be as complex as a quantum physics equation. When Dodd-Frank established the CFPB, a new lexicon of regulatory language began for the financial services industry. As for us out in the streets as a collateral recovery specialist, our new lexicon moved from being licensed, insured and bonded, to being “compliant”. Well, these years later and thousands of hours of later, where are we going? and what’s next?
South Gate, CA – July 29, 2014 – The search continues for his killers of a murdered Repo Man on Monday as the Los Angeles County coroner’s office identified the victim who was fatally shot in South Gate after repossessing a Dodge Caliber.
Recovery Industry Services Company (RISC) is proud to continually enhance and support our RISC Compliant Agent Network (RISC CAN) members. With so much misinformation being dispersed we wanted to take this opportunity to explain why we feel the need for such a network. First and foremost, RISC CAN membership is open to any professional collateral recovery agency owner who can meet the stringent requirements of our network.
South Gate, CA – July 27, 2014 – An unnamed 50 year old Los Angeles Repo Man was chased down and murdered by multiple assailants at an intersection near a 7-11 in south central Los Angeles shortly after 4 a.m. Sunday morning.
Another Step in Mitigating Risk
July 23, 2014 (Somerville, NJ) – Northern Star Management announced its selection of Vendor Transparency Solutions (VTS), as an on-line compliance monitoring platform to be utilized as an additional tool in mitigating risk. Northern Star is an underwriting management company and wholesale producer working with a select network of brokers and agents to offer viable insurance solutions. Northern Star’s Collateral Recovery Program is designed for the “collateral specialist” who works with major lenders.
Spartanburg, SC – July 21, 2014 – After being bitten by a borrower during a repossession attempt, Scotty Fowler, the owner of Mission Towing & Recovery pulled out his camera phone just in time to catch the wild woman smashing the windows out of her vehicle.
The AFA / RSIG Convention in Chicago last month was a huge success with over 500 attendees. With the swearing in of our newest members we are now over 310 strong. These independent recovery agencies serve clients nationwide. All 310 Members have actual physical locations. AFA does not allow ghost or phantom offices! Allied Finance Adjusters is the largest Not-For-Profit National Trade Association to the Repossession Industry since 1936!
July 21, 2014 – Brentwood, CA – FINV, the premier provider of National Collateral Recovery and People Location Services has hired Jamie Munoz to the Locate Department.
Jamie’s brings her vast experience in Skip Tracing, Loss Mitigation and Collections to help their Locate Department get lenders back in touch with borrowers.
1:30PM or 2:00PM Central Standard Time
In this class we will cover the three types of tracing: Micro-Tracing, Macro-Tracing and Skip-Tracing! You need to know where you’re going and why before you move forward in your process. It can spell the difference between Profit and Loss. This webinar is designed to show your staff what search to use for the type of tracing required for the account, before you ever go out in the field or issue the assignment! No matter your budget or fee structure, I have a plan of action to help you become more efficient and profitable.
Be the first to see our two new features The “Phon360” and the “Contact Plus Report”