Santander Decides Not to Use GPS

Dallas-based Santander Consumer USA Holdings Inc., one of the country’s biggest subprime auto lenders, has decided not to use GPS-tracking and ignition kill switch technology as regulators clamp down on the devices, an executive said.

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The Next Financial Crisis Might Be in Your Driveway

With late payments on the rise, a dealership upsell begins to look dangerous.

Lured by low interest rates, low gas prices, and a crop of seductive vehicles that are faster, smarter, and more efficient than ever before, American drivers are increasingly riding in style. Don’t be fooled by the curb appeal, though-those swanky machines are heavily leveraged.

The country’s auto debt hit a record in the fourth quarter of 2016, according to the Federal Reserve Bank of New York, when a rush of year-end car shopping pushed vehicle loans to a dubious peak of $1.16 trillion. The combination of new car smell and new credit woes stretches from Subarus in Maine to Teslas in San Francisco.

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Primeritus Financial Services Acquires Global Investigative Services

PRESS RELEASE

Nashville, TN – February 15, 2017 – Primeritus Financial Services, Inc. – the leading provider of recovery management, skip tracing, and remarketing services to the auto finance industry in the U.S. – today announced the acquisition of Global Investigative Services, LLC (GIS).   Based in Rockwall, TX, GIS was founded by Greg Hill and partner Danny Tolbert and provides vehicle skip tracing services, equipment recovery and investigative services to the finance community. 

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Why is Insurance for the Towing and Repossession Markets so Hard to Find?

Press Release

RSIG requires members and most national client contracts require repossessors to have $1,000,000 in commercial auto coverage for scheduled vehicles or “owned-autos” a/k/a your tow trucks, spotter vehicles and camera cars.  Repossessors have often tried to minimize insurance costs by just having a towing policy, which they believe covers repossession activities.  And for years towers have used their towing policy to try to get into doing repossessions, without having the same coverages and costs associated with their policies.

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An Education, Training, Trade & Networking Event for Repossession Industry Professionals

Hosted by: Recovery Specialist Insurance Group & Allied Finance Adjusters Conference Inc.

Press Release

Are you concerned with 3rd parties tracking your every move?  Have you attended an Internet Profiling Course by Michele Stuart of JAG Investigations in the past 2 years?  If not, you should plan on attending the Education, Training, Trade & Networking event of 2017, hosted by Recovery Specialist Insurance Group and Allied Finance Adjusters Conference Inc.

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Repo Man Shot During Alleged Garage Break In

Lake Havasu City , AZ – 10 February 2017 – Lake Havasu City Police are investigating a shooting in the 2400 block of North Rainbow Avenue that sent two men to the hospital Thursday with non-life threatening injuries. At 2:18 a.m. a female in the residence called police to report there were people attempting to break into the home and access a motorcycle. Detective Sgt. Chad Williams said police believe the men were there to repossess the motorcycle when the male homeowner entered the attached garage armed with a rifle and opened fire.

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Repo Man Struck on the Head with Shotgun

Antioch, CA – 6 February, 2017 – On January 29 at 3:48 pm, a repossession truck driver attempted to recover a 2011, Infiniti, G37, parked in front of a home in the 400 block of W. Tregallas Rd. Once the vehicle was up on the tow truck, a 25 year old man exited the residence armed with a shotgun.

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Loss Preventions Services, LLC Selects MBSi Corp. as Technology and Compliance Partner

Press Release 

Grandville, MIFebruary 2, 2017 – Loss Prevention Services, LLC, an industry leader in repossession and skip tracing services, announced today that it has chosen MBSi Corp. (MBSi) as its assignment and compliance management solution. Throughout this next year, LPS will transition their assignment management platform to Recovery Connect (RC), MBSi’s next generation assignment platform.  In addition to adopting Recovery Connect, LPS has also chosen to adopt MBSi’s Compliance Made Easy (“CME”) suite of compliance platforms, as well as MBSi’s full vendor compliance management services. This decision allows LPS to integrate assignment and compliance management into one system. LPS and their clients will be provided with unprecedented transparency and analytics to create the best results in the most compliant environment available today.

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