In a recent episode of the AFSA Extra Episode Podcast, Dan Bucherer, Senior Director of Member Services & Engagement at the American Financial Services Association (AFSA), spoke with Adam Fader, Senior Manager of Business Development at MVTRAC, and Sam Van Scoyoc, Vice President of Business Development for Secure Collateral Management (SCM). The two companies together form AFSA Business Partner DRN MVTRAC SCM.
The discussion focused on the financial impact that delays in vehicle recovery have on lenders. According to the speakers, lenders lose millions of dollars each year due to delayed recoveries, impound fees, and depreciation. Many lenders continue to use traditional mail notifications, which contribute to these delays and result in significant costs—sometimes several thousand dollars per vehicle.
The conversation also covered how to manage the challenges within the auto repossession sector and strategies for lenders to better plan for and handle such delays. During the podcast, Sam Van Scoyoc mentioned an upcoming data stream designed to improve their company's offerings. Since recording the episode, DRN MVTRAC SCM has announced an integration with Loanbridge data. More information about this development is available on the DRN Blog.
Listeners can access this episode at afsaonline.org/podcast or through other podcast platforms.
"Toward the end of our conversation, Sam Van Scoyoc mentions a new data stream that will enhance the company’s offering. Since recording, DRN MVTRAC SCM announced an integration with Loanbridge data. You can read more about that at the DRN Blog."
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