One of the fastest growing forces that is driving the Repossession/Recovery Industry forward is Technology and this section is dedicated to news-related articles.
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Help is here to Find, Track, and Locate Evasive Debtors
Repo Remarketing announces the launch of its Skiptracing company, Find Track Locate, FTL Wednesday, May 1, 2012 (Citrus Heights, CA) ̶ When conventional means fail to locate and repossess a vehicle, the financial institution loses money. They have long needed a partner that they can trust to end their frustration. As a result, Repo Remarketing, a national leading repossession and remarketing... Continue »FTC Charges that Auto Loan Schemes Falsely Promised They Could Stop Consumers’ Cars from Being Repossessed
"Hope for Car Owners" and "Auto Debt Consulting" Took Fees, But Failed to Modify Loans 4/4/2012 The Federal Trade Commission filed charges and requested that a U.S. district court put a stop to the allegedly deceptive tactics of two California-based auto loan modification operations. The FTC asserted that the two separate operations charged hundreds of dollars in up-front fees, based on... Continue »Ford’s Fuel-Saving Innovations Spur More Jobs, New Facilities, Electrified Vehicles, More Customer Choice
Ford doubles size of vehicle development teams focused on fuel-saving technologies globally versus five years ago; dozens of additional engineers to be hired this year Ford is converting its Advanced Engineering Center – a 285,000-square-foot building – for its newly centralized team of engineers working on hybrid and electrification programs Company continues adding... Continue »Consolidated Asset Recovery Systems Launches Open-Source I-BEAM Portal
Proprietary technology to be offered free to lender and agent community for first time ever Raleigh, N.C. (March 20, 2012) – Consolidated Asset Recovery Systems, a Raleigh-based leader in repossession and remarketing services, today announced it will launch a new open-source, freeware version of its IBEAM™ Web portal to the agent and lender community. This new version of IBEAM,... Continue »American Recovery Service and SWBC Team Up
Credit Unions across the United States will benefit from ARS and SWBC Partnership El Dorado Hills, CA (PRWEB) March 14, 2012 American Recovery Service (ARS), the premier national repossession servicing firm, and SWBC, a recognized leader and trusted business partner in the financial services industry, have announced the completion of their technology integration which streamlines systems... Continue »MVCONNECT, LLC (MVTRAC), Digital Recognition Network, Inc. (DRN) and Vigilant Video (Vigilant) Announce a Transaction Related to a License of MVTRAC’s Historical Tracking Patent
Palatine, IL (March 5, 2012) – MVTRAC, a premier provider of cradle-to-grave location and recovery solutions and home of the neural ALPR system called The Intelligent Data Network™, is pleased to announce a transaction between MVTRAC, DRN and Vigilant, involving a license of MVTRAC’s ALPR historical tracking patent. The undisclosed terms of the transaction conclude all litigation... Continue »INTRODUCING….THE NEW ONLINE REPOSSESSION COMPANY DIRECTORY FOR QUALITY AND PROFESSIONAL REPOSSESSION COMPANIES
No, it’s not just another advertising/marketing outlet. We know that many Lenders within the Financial Institution sector read www.theamericanrepossessor.com and as part of our ‘push’ to support a professional and quality Repossession Industry, we are introducing the new Repossession Company Directory. We market www.theamericanrepossessor.com to thousands of repossession industry... Continue »ARS.mobileAgent – Smartphone Apps for the Automotive Repossession Agents
...we are proud to offer this product to our exclusive service provider network, free of charge - Steven Schelk, Chief Risk Officer of ARS The roadmap of comprehensive features rollouts include processing new assignments, hold and close requests, condition reports, pre-transport photographs and many other ideas that originated from the repossession agents participating in the pilot... Continue »RSIG Discusses How Allied and Lenders Are Embracing Recovery Management Solution
February 1, 2012 MANASSAS, Va. — Recovery Specialist Insurance Group recently highlighted how the industry has been embracing its National Agency Management Systems, a technology solution that's been welcomed by Allied Finance Adjusters, as well as lenders. RSIG contends that NAMS is the only technology solution that can provide direct communication with the repossession agency and... Continue »Malware Targets Bank Accounts ‘Gameover’ Delivered Via Phishing E-Mails
01/06/12 Cyber criminals have found yet another way to steal your hard-earned money: a recent phishing scheme involves spam e-mails—purportedly from the National Automated Clearing House Association (NACHA), the Federal Reserve Bank, or the Federal Deposit Insurance Corporation (FDIC)—that can infect recipients’ computers with malware and allow access to their bank accounts. The... Continue »Ford Credit Earns $1.8 Billion Net Income in 2011*
DEARBORN, Mich., January 27, 2012 – Ford Motor Credit Company reported net income of $1.8 billion in 2011, compared with $2 billion a year earlier. On a pre-tax basis, Ford Credit earned $2.4 billion in 2011, compared with $3.1 billion in the previous year. The decrease in pre-tax earnings is more than explained by fewer leases being terminated and the related vehicles sold at a ... Continue »Consolidated Asset Recovery Systems Announces International Partnership with iCompli
Raleigh, N.C. (Jan. 4, 2012) – Consolidated Asset Recovery Systems (CARS), a Raleigh-based leader in repossession and remarketing services, has announced its first international partnership with iCompli, a U.K.-based compliance technology company. iCompli will leverage CARS’ unique Internet-Based Electronic Asset Management (IBEAM™) Web portal through its finance sector facing brand Auto... Continue »RecoveryNet Offers LPR Capability Through Subscription-Based Platform
December 19, 2011 | LAS VEGAS By Staff Writer Nick Zulovich Andy Robinson, PRA Location Services PRA Location Services contends it has found a way for repo agents to take advantage of license-plate recognition technology without operators needing to invest thousands of dollars in equipment and more. The Las Vegas-based subsidiary of Portfolio Recovery Associates ... Continue »FORWARDING CO-OPERATIVE – “ALL FOR ONE, AND ONE FOR ALL”
There seems to be a great deal of controversy within the Repossession Industry regarding an ‘old’ business concept that has been recently introduced – the FORWARDING CO-OPERATIVE, with emphasis on the world CO-OPERATIVE. There is a famous quotation that actually encapsulates the very meaning of what a Co-operative is – “ALL FOR ONE, AND ONE FOR ALL” by Alexander Dumas (1802-1870)... Continue »ARA Chosen as Vendor of Choice by CU Collections
Recovery Management Software Will Aid in Providing Efficiency to Credit Union Organization Dallas, TX – November 30, 2011, American Recovery Association, Inc. (ARA), the world’s largest association of recovery and remarketing professionals, is proud to announce CU Collections, a national credit union service organization, has chosen the association with its recovery... Continue »SmartAuction, Renovo Services Begin Selling Repossessed Vehicles
DETROIT (November 16, 2011) – Ally Financial’s SmartAuction vehicle auction web site and Renovo Services today announced that they have begun selling repossessed vehicles directly from secured storage facilities across the country. The Renovo company, ReposDirect.com, will utilize SmartAuction as a resource for lenders to sell vehicles quicker, more economically, and with less risk of... Continue »SmartAuction Launches Enhancements to Dealer eVantage
DETROIT (November 14, 2011) – Ally Financial’s SmartAuction vehicle auction web site launched enhancements to its popular Dealer eVantage inventory management tool today. Originally introduced in 2010, Dealer eVantage uses proprietary analytics to create personalized alerts that can help SmartAuction users buy and sell vehicles more effectively. Enhancements to the Dealer eVantage... Continue »License Plate Reader (LPR) Technology – Invasion of Privacy?
It looks like the Repossession Industry is about to go to battle regarding the License Plate Reader technology and the issue of 'invasion of privacy'. I read an article that was listed on WIVB News Channel 4, Buffalo, about this and my interpretation of that information is that the privacy experts think that we are encroaching on the general public’s right to privacy. This is because... Continue »RepoSystems Unveils LPR Camerca Systems for Recovery Agents and the General Public
Irving, Texas , November 1, 2011 – RepoSystems Inc., a leading provider of recovery industry management software and license-plate recognition (LPR) technology for the repossession and recovery industry, today announced the second generation of its License Plate Recognition ToolBox designed to improve vehicle recovery rates. The new turn key system now comes equipped with an LPR system... Continue »MERLIN INFORMATION SERVICES CELEBRATES 20 YEAR ANNIVERSARY
KALISPELL, MT – October 26, 2011 – Merlin Information Services, a leading provider of data solutions to the collection and investigative industries, announces its 20 year anniversary. Founded in 1991, Merlin will commemorate the milestone with an employee celebration at the corporate headquarters in Kalispell, Montana. "It doesn't seem that long ago that we sold our first... Continue »Recovery Database Network and MVCONNECT Form Remarketing Agreements
October 10, 2011 | REDWOOD CITY, Calif. By Auto Remarketing Staff (www.autoremarketing.com) To boost remarketing of repossessed vehicles, OPENLANE subsidiary Recovery Database Network and MVCONNECT recently reached limited version user agreements, meaning MVRecovery and MVIntel now are limited version users on RDN. The parties also entered into the following additional... Continue »OPENLANE Strengthens Management Team with Key Appointments
Carmel, IN - 10/6/11 KAR Auction Services, Inc. (NYSE:KAR) today announced three key appointments to the executive management team of OPENLANE. In the U.S., Jason Ferreri has been appointed senior vice president in charge of commercial sales and Tim Zierden has added responsibility for OPENLANE’s dealer sales within his capacity as senior vice president of dealer services for ADESA, Inc. In... Continue »KAR Announces Closing of OPENLANE Acquisition
Carmel, IN - 10/3/11 KAR Auction Services, Inc. (NYSE:KAR) announced today that it has successfully completed the acquisition of OPENLANE, Inc. OPENLANE is a North American online automotive auction company that provides a market for online buyers and sellers of wholesale vehicles. OPENLANE offers its comprehensive remarketing solutions to auto manufacturers, captive finance companies, lease and... Continue »CARS’ Newest Partnerships Open Online Bidding on Repossessed Vehicles Sooner
September 19, 2011 | RALEIGH, N.C. By Staff Writer Nick Zulovich, www.autoremarketing.com Steve Norwood, Consolidated Asset Recovery Systems Regulations force remarketing of repossessed vehicles to take a certain amount of time, but Consolidated Asset Recovery Systems believes its two newest partnerships can allow lenders to use that time as efficiently as... Continue »Must See
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