Auto Loan Delinquencies: Reducing Defaults & Maximizing Recoveries
StreamedAug 7, 2023Duration90 minutes
See Registration Options
- Unlimited & shareable access starting two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
Nationwide statistics reveal automobile loan delinquencies are at the highest level since 2010, especially among borrowers with lower credit scores.
But credit scores are not the only factor behind this negative trend. The fact that vehicles are retaining their value better than ever is keeping losses down… for now.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Appreciate the current auto loan environment
- Inventory your automobile collections process
- Deploy data analytics for early delinquency detection and intervention
- Improve the prioritization of auto loan collection efforts
- Harness existing data points to target at-risk borrowers
- Recalibrate your methods for determining the proper recovery option
- Accurately assess redemption value and resale potential
Continuing inflation, rising interest rates, higher average car prices, and dwindling savings are combining to alter the basic landscape of auto collections. To reduce losses and limit the number of units requiring remarketing, your institution needs to leverage the right mixture of traditional collections techniques and different approaches which are responsive to today’s marketplace.
There is a real opportunity to assist borrowers in avoiding damage to their credit history, while at the same time improving your institution’s asset quality. How do you manage those potentially competing goals in today’s stormy market? Join veteran collections attorney, David Reed, as he provides critical insight into effective tactics and strategies to improve your collections efforts. From harnessing the data already at your fingertips to developing new collections workflows, this timely session will have something for every car lender.
WHO SHOULD ATTEND?
The information in this session is designed for executives, volunteers, CFOs, lending managers, collections managers, collections staff, and anyone interested in maximizing collections efforts.
- Automobile collections inventory
- Sample collections checklist
- Collections staff training tools – scenarios and decision points
- Data analytics score card
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.
"David Reed was easy to understand. He "dumbed down" the information to help us grasp the point easily. His positive mindset of collections as a rescue verses a hunt really helps us have a positive mindset for Collections. I love that he encouraged us to reach out to the other departments to come see that we are member service too. David was great! Highly recommended for future webinars!"
- Sarah, Greenville Federal Credit Union
David A. Reed
Reed & Jolly, PLLC
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