The CUCollector 2012 State of the Industry Survey

In 2011 we published the first of our “State of the Industry” surveys for both the collections and repossession industries. The response was good and over the last year, new issues have arisen that we felt worthy of bringing up such as the CFPB and its role in diligence as well as the potential of creating a trade association.

Well, It’s that time again and we need your responses.

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Allied Finance Adjusters, NorthLegal Lead West Coast Seminar for Lenders

FOR IMMEDIATE RELEASE

RALEIGH, N.C. – Allied Finance Adjusters recently played host to an educational seminar titled “Repossessions: Before And After You Take Possession” to a large audience of lending institutions and AFA members.

The seminar, which was held Sept. 11, 2012 at the Long Beach Marriott in Long Beach, Calif., featured Eric M. North, Esq. of Moore, Brewer, Wolfe, Jones, Tyler, and North as well as NorthLegal Training and Publications.

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Renovo Services Completes Service Organization Control (SOC) 1 Type II Audit

Press Release

Chicago, IL – September 5, 2012 –  Renovo Services, LLC, the vehicle transition industry’s most fully integrated single-source solution to the financial services industry, announced today that it has successfully completed a SSAE 16 (Service Organization Control (SOC)) 1 Type II audit.  This audit was conducted by McGladrey LLP, (the fifth largest U.S. provider of assurance, tax and consulting services), and examines the effectiveness of internal controls supporting Renovo Services asset recovery and remarketing business. SSAE 16 is the new auditing standard developed in 2011 by the American Institute of Certified Public Accountants (AICPA) to replace SAS 70.

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Illinois Commerce Commission Approves RSIG’s CRA Course for State Certification

The Illinois Commerce Commission on August 17, 2012 notified RSIG the Certified Recovery Agent education course for Illinois was approved. The course has both Manager and Employee programs that has meet all requirements of the Illinois Commerce Commission for the required education needed to work in the repossession business in Illinois. In addition this course also meets the requirements for education under the Consumer Financial Protection Bureau requirements for third party vendors.

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Another Reason Never to use a Tow Company to Repossess a Car

Dallas, TX – July 26, 2012 – The difference between a repossession and a simple parking violation are clear, and as such should never be confused with each other. What happened in Dallas last week with a simple tow that ended a young man’s life is just another example of why such care should be taken in agent selection. If the tow driver couldn’t manage a simple parking violation tow, how would he handle a repossession?

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CA Repossessions Open Forum / Completing Forms

Coming Next Thursday, June 21, 2012

CALIFORNIA REPOSSESSIONS OPEN FORUM
and
PROPERLY COMPLETING NORTHLEGAL REPOSSESSION FORMS

10:00 a.m. PDT, 11:00 MDT, 12:00 CDT, 1:00 EDT (Duration: Approximately 90-120 minutes)

Knowing California’s complicated repossession rules and having good forms forms won’t help if you are unsure how to correctly apply the rules or complete the forms. 

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CFPB to Hold Lenders Responsible for Third Party Actions

Washington, DC – May 10, 2012 – Vendor due diligence and lender responsibility for the actions of third parties used by their contractors was highlighted In an announcement made last month by the Consumer Financial Protection Bureau (CFPB). This statement confirms the course of action that may be utilized by the CFPB to regulate the repossession industry as well as all lending service providers.

“April 13, 2012 – The Consumer Financial Protection Bureau (CFPB) today released a bulletin clarifying that financial institutions under Bureau supervision may be held responsible for the actions of the companies with which they contract. The Bureau will take a close look at service providers’ interactions with consumers. It will hold all appropriate companies accountable when legal violations occur. 

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NARS 2012 A Huge Success!

Las Colinas, TX – March 27, 2012 – If you weren’t at this years North American Repossessors Summit (NARS) held at the Omni Mandalay in Dallas, you missed without a doubt, the most important meeting regarding the future of the repossessions industry that’s been held to date. With over 500 Repossession company owners, employees and vendors, this was probably the largest meeting in the industries history. This massive attendance can be largely attributed to the tumultuous times the industry has been going through and this years NARS delivered with some lively and timely debate and conversations from industry leaders addressing many of the important issues facing the industry today.

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Renovo puts its Disaster Continuity Plan into Action

Press Release

Renovo Services, LLC the vehicle transition industry’s most fully-integrated single source solution to the financial services industry announces the successful implementation of its Business Continuity Plan.

“The recent storms in the southeastern United States provided a very real reminder of the importance of system and process redundancy in a large volume business such as repossession management,” said Wes Goebel, COO of Renovo.

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