Webinar: Auto Loan Delinquencies: Reducing Defaults & Maximizing Recoveries
August 7, 2023 3:00 pm - 4:30 pm
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
WEBINAR DETAILS
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.
TAKE-AWAY TOOLKIT
- 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
Presenter: David A. Reed, Reed & Jolly, PLLC
Attorney, author, consultant, and nationally recognized trainer, David Reed is a partner in the law firm of Reed & Jolly, PLLC. He provides guidance to financial institutions on establishment and revision of policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters, and corporate governance. His engaging speaking style has made him a nationwide lecturer on regulatory compliance, consumer lending, bankruptcy, and collections.
A former trial attorney and vice president and general counsel of a large regional financial institution, David is also a Certified Fraud Examiner. He is particularly known as an expert in the areas of operations, bankruptcy, and collections. He has trained state and federal examination staff on numerous issues, including BSA, ID theft red flags, SAFE Act, third-party contract management, and bankruptcy.