Getting Back to the Point – The Heart of the Santander CARS Mandate Editorial

EDITORIAL REBUTTAL

Our initial editorial titled “Santander Demands CARS Certification – The Contingent Fee Contradiction” we addressed the issue of Santander/Chrysler demanding that all of their approximate 700 agencies be CARS Certified. Despite our extreme efforts to distance any blame on RISC, CARS or Joe Taylor, Stamatis Ferrolis or Mark Lacek, all of their editorial responses focused solely upon their defense. It seems like either they all miss the point or perhaps they agree with us and just can’t say it?

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Just the Facts Ma’am – Editorial Response from Joe Taylor

EDITORIAL REBUTTAL

Before I get started on this article I would be remiss if I did not first recognize those brave and compassionate recovery agents who have gone to Houston to help in the aftermath of hurricane Harvey. I thank you for your efforts and pray for your safe return to your own home soon.  I also continue to send prayers to those agents affected by Hurricane Harvey.  Now, to my reasons for writing this article.

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Why Santander Chose CARS – Editorial Response from Mark Lacek

EDITORIAL REBUTTAL

I read the recent editorial about Santander/Chrysler and I felt the need to respond from my point of view. One of the questions in the article was why Santander/Chrysler chose the C.A.R.S. National Certification Program for ensuring that the recovery agents they hire are professionally trained. I am going to try to answer that question only.

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Rebuttal to Santander CARS Certification Editorial

EDITORIAL REBUTTAL

I read your editorial regarding Santander/Chrysler and I would like to take this opportunity to respond to parts of it.  I have known Joe Taylor and Stamatis Ferarolis for more years than I can remember and I totally agree with what your editorial said about them so we will leave that where it is.

The two things I want to respond to is contingency and certification and I mean real professional certification.

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Santander Demands CARS Certification – The Contingent Fee Contradiction

Editorial

We’ve been getting a lot of laughs lately, as well as some copies of cancellation letters being sent to lenders and forwarders over their ludicrous demands. If you work for Santander/Chrysler you should have already received their latest demand for CARS Certification. While we strongly support the CARS program created by the respected industry veterans, Joe Taylor and Stamatis Ferrolis and RISC, we find the Santander/Chryslers demands almost laughable considering they demand their agents partake in the obviously dangerous practice of contingent assignments.

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Holly Balogh Named President of RISC

Tampa, FL – June 27, 2017 – RISC is pleased to announce that Holly Balogh has been hired as the President and COO of RISC, the leading compliance and training company for the Recovery Industry.  Stamatis Ferarolis will remain as owner and CEO.   “RISC continues to be at the forefront of the recovery industry for compliance and training. With the growth we have seen from our recent partnership with MBSi, we needed to bring additional leadership with deep industry experience to ensure we are positioned well to support the growth that we are seeing,” said Stamatis Ferarolis. “We are thrilled to have Holly join RISC as President and bring her wealth of recovery and compliance experience to our customers.” Holly joins RISC with over 5 years of industry experience most recently working as the Chief Operating Officer at RDN, a business unit of KAR Auction Services, Inc. 

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RISC to Acquire Recovery Compliance Solutions (RCS)

TAMPA, Fla., May 26, 2017 – Recovery Industry Services Company (RISC), the industry-leading provider of Collateral Recovery Training, Certification, and Compliance Solutions, today announced that it has signed a definitive agreement to acquire Recovery Compliance Solutions (RCS) in order to enhance its Vendor Vetting services as part of RISC’s overall compliance-related offering.

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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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Are Creditors Liable for the Acts of Recovery Agents?

jdg_jdy_LGuest Editorial

Even today many creditors will argue that they are not responsible for the acts of the collateral recovery specialists they hire to recover their defaulted collateral. Their argument, which the courts disagree with, is that the collateral recovery specialist is an “independent contractor” and therefore must assume the liability associated with the self-help repossession process.

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Driving To Live

trck_drv_nghtCollateral Recovery Agent Tow Truck Training….Why?

Editorial

Certainly, there are many potential risks associated with the physical act of self-help repossession activity and we read about some of the unfortunate, sometimes deadly results. Statistics clearly show that professional training and certification are the most effective methods for minimizing and controlling those risks.

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