FOR IMMEDIATE RELEASE
I’ve been asked many questions about CU-Solutions. Those that know me know that I’ve never shied away from any question and I answer them all as honestly, accurately and as clearly as I can. I wanted to publish this article to answer any potential questions you might have on what exactly is CU-Solutions and what is the nature of our business.
CU-Solutions offers lenders expertise in compliant lending, collections, repossession and remarketing practices. We train collection personnel on effective collection tactics that follow CFPB guidelines. We take the burden out of vetting compliant repossession agencies and assure that the Lenders’ collateral will be remarketed for the highest possible returns.
Who Are We?
My name is Jerry Farese the CEO of CU-Solutions, also CEO of The Peak Service Corp. We are not a division of The Peak Service Corporation, however the management and business philosophies are very similar. Prior to the Wells Fargo acquisition of Wachovia Bank, The Peak handled all of Wachovia’s national forwarding needs for many years. We had a national recovery rate of 68% and Wachovia never spent a single day in court during the course of that relationship all while assigning well over 100K repossession assignments over the years.
Our success was not by luck or by coincidence; it was by choosing the right agents, most of which The Peak management knew for many years. We paid the agents a fair wage, treated them with respect and we were given priority service over most of their direct clients. By utilizing this metric, cars were secured and remarketed faster for the greater returns, all while Wachovia experienced incredibly low charge-offs. This same management and business philosophy is what CU-Solutions is striving to bring back to our industry.
Are We a Forwarder? If so, What makes us Different from all of the Other Forwarders?
Yes, we are, but not just another forwarder. We have a different model than any of the existing forwarders out there. We do not solicit any of the larger national auto lenders. We focus on smaller lending institutions that are in need of special attention and guidance. We won’t attempt to compete on price with the larger forwarding companies.
Our methodology of handling the repo / remarketing process results in fewer charge-offs and greater net returns on the resale of the recovered collateral, which is something is not acheived by trying to provide the lowest rates to an already rate-ravaged industry.
Our clients know exactly who is handling their portfolios in the field. They’ll have access to all of the agents’ site inspections, compliance documents, insurance policies, etc. If a client would prefer to assign accounts directly to the agents within our network (to save the cost of our administrative fee), we’ll gladly provide that recommendation free of charge. It’s the right thing to do for an industry that has been subjected to many wrongs for as long as most of us can remember.
What Can We Do For the Industry?
We’ll be a client’s one-stop shop and we have our own proprietary system which anyone can utilize at NO COST. Our system was actually one of the first web-based operating platforms for this industry. We’re here to be part of the solution to some of the woes in this industry, not to contribute to the problem.
If a client has the resources and manpower to work with the assigning of the account, monitoring the updates, receiving and processing the various repo-related documents that accompany repossession orders, etc., we will recommend certified and skilled agents within our network at ZERO COST. However, if a client would like to utilize us as their main point-of-contact for any of their repossession needs, we can gladly facilitate any / all services for a minimal cost.
We’re not pushing a contingent model because quite frankly, we are firm believers of the adage “you get what you pay for”. We provide quality services for fair and reasonable rates. We’re not the first company in our industry to claim to do things the right way for the appropriate fees, but I promise you we’re one of the few who intend to honor that commitment!
It would be my privilege to work with you as we both take steps towards a better way of doing things within this industry. Should you have any questions, I welcome the opportunity to share what we’re doing here at CU-Solutions.
We look forward to working with you,
Jerry Farese
CEO CU-Solutions
For more info visit http://www.cuedusummit.com/
CU Repossession and Remarketing Summit 2018
PO Box 2329
Cinnaminson, NJ 08077
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