Rebuttal: Consolidated Asset Recovery Systems Response to Punishment over Reporting Breaches Editorial

 EDITORIAL REBUTTAL

Kevin,

Before I reply, I want to first thank you for the fine job you do. I find your site to be informative and insightful providing needed information on our industry and a platform for sharing opinions and observations.

Your article on Consolidated Asset recovery Systems is accurate but may leave some questions unanswered. I will address those later in this reply.

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Forwarder Threatens Agencies with Punishment over Reporting Breaches

EDITORIAL

In a memo distributed on October 20th, Consolidated Asset Recovery Systems has announced their need to enforce punitive actions against agents for failure to report repossessions within the established service level agreement (SLA) timeframes. These punishments include, compliance holds, suspensions and repossession fee forfeitures.

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Santander Extends CARS Certification Deadline

29 September 2017 – Through a memo circulated last week, it appears as though Santander has extended their deadline for CARS certification to November 1, 2017 from its prior deadline of October 1st. The memo states that a formal notice of this is pending from Santander themselves. Included in the memo is a request to identify agencies who have refused to comply the certification mandate for the purposes of identifying gaps in coverage.

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The $500 Repo Fee

Editorial

$500 repo fee. Sounds pretty radical, doesn’t it? Well, really, it’s not. I imagine every one of us has had a father or grandfather who tells us how candy bars used to cost a nickel and gas was a quarter a gallon. Well, they’re usually telling the truth. These changes are reactionary to operational costs of living and operations and fall under a proven thing called (dig this) inflation.

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Are You the Flavor of the Month?

IC_FOTMGuest Editorial

Are you being contacted by clients you have not heard from in years, or even clients you have never heard of?  There seems to be a scurry of inquiries about our services all around the nation lately.  Could this mean clients are becoming disenchanted with the forwarding model that took over not so long ago?  Have lenders finally figured out that with all the forwarding companies out there, regardless of which one they choose, they are still getting the same sub-standard cheap agents over and over again?

So let’s look at some of the different flavors:

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