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The ripple effect: Distressed repo industry threatens lender losses

Auto loan losses are poised to rise — but not because consumers are failing to make payments. The issue runs deeper, hinging on repossession agencies bogged down by increased competition and rising costs. Repossession companies, typically family-owned businesses passed down through generations, are succumbing to industry challenges. Florida, for one, has lost 23% of its […]

Repos to ‘Explode’ as Market Increases, Experts Say

As lenders increasingly enter the subprime space, the volume of repossessions is expected to spike from current lows, according to Patrick Altes, an asset recovery specialist at Time Finance Adjusters. “The assignment volume will explode in the next year or so,” Altes predicted during a recent webinar organized by RepoPulse. “Auto loan delinquencies are at the lowest […]