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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 […]

Resolvion recruits Ally’s Russi following merger

On the heels of completing a merger last week, Resolvion has beefed up its ranks with a 30-year auto finance executive, said Chief Executive Michael Levison. Tim Russi, whose career has spanned institutions including Bank of America and GMAC, has been named to Resolvion’s board, the company announced yesterday. Prior to joining the repossession management […]