August 19 event offers lenders insights into best practices given new economic environment
Wolters Kluwer’s Lien Solutions business is hosting an informational webinar, “Auto Repossessions Avalanche is Coming: Are You Ready?” to share insights with lenders on managing their motor vehicle liens in preparation for higher loan defaults and car repossessions. This event will focus on how lenders can effectively mitigate these risks in the current economic environment and takes place from 1:00 to 1:45 p.m. CDT on Wednesday, August 19.
The impact of COVID-19 on the U.S. economy is momentous. As lenders assess the impact to their lending portfolios, it’s clear they must be ready for a higher-than-expected volume of loan defaults and car repossessions. This trend is expected to continue for many months, presenting substantial risks to lenders who have not prepared across all jurisdictions in which they have loan interests.
Webinar participants include McGlinchey Stafford Attorney Mark S. Edelman, who provides guidance to banks, finance companies, and online lenders on regulatory compliance matters in the arena of consumer financial services; Rick Vanko, senior product manager for iLien Motor Vehicle in Wolters Kluwer’s Lien Solutions business who supports a portfolio of automated lien and risk management products; and Marina Hardy, marketing associate director for Wolters Kluwer Lien Solutions’ iLien Motor Vehicle business, who will also serve as a moderator for this event.
The 45-minute event will look at economic drivers of repossessions, jurisdictional guidelines on repossession restrictions, challenges of processing titles with departments of motor vehicles, and general considerations for lenders faced with properly interpreting federal, state, and local laws and regulations for auto repossessions and repossession titling in an evolving environment.