The last thing a lender wants to deal with is the hassle and aggravation of a repossession and the long tedious process of handling the remarketing of the collateral once it has been secured. At Lenders Risk, we have developed strategic partnerships with Primeritus and their affiliates Roquemore & Roquemore, Auto Financial Group, and Repo Remarketing to provide our clients with this outsourced service, taking the headache away from your loan servicing/collection departments and seamlessly tracking the process for you from start to finish.
The beauty of this program is that Lenders Risk can manage and track the program online using our LSI web platform. From the assignment of the repo agent to the research and reporting they do on the collateral, to the auction condition report and suggested sale prices, our platform is designed to keep you informed and provide you with a central location to view all the pertinent information for each case.
Our partners will assign your case to your preferred repo agent or to one of their own fully insured and licensed agents, who will take the time to research any information on the collateral and report back to Lenders Risk.
Once the collateral has been secured, Lenders Risk will monitor and manage the transportation to auction process.
The national remarketer (Auto Financial Group or Repo Remarketing) is immediately notified of the location of the collateral, where they work to establish which auction would be the best fit to receive the best sale value. The auction condition report as well as the floor price, suggested floor price, damage and repair fees, sale date and all other supporting documents are tracked and uploaded into our system.
The online platform becomes the best resource for each of your repo and remarketing assignments. Lenders Risk acts as your central hub to track, report and provide you with any and all information you need to make the process seamless and stress-free for our customers. Our goal is to provide you a much-needed service, reducing your potential loss and internal costs, increasing your rate of recovered collateral and providing you with timely results in a cohesive, seamless way.
For more information on our Repossession and Remarketing Program, please call us at 1.888.600.4436.