defi’s White-Labeled Debt Collections Management Service Can Help Minimize Losses
Managing collections in-house without the proper technology, experienced staff, or compliance resources is risky. You could be subject to regulatory review or sanctions, and you may not be recovering the maximum from delinquent accounts.
Instead of spending the time and money to improve your collections process, why not leverage the resources and experience of defi’s debt COLLECTIONS management service and call center?
defi has been helping financial institutions maximize collections for over 30 years with innovative technologies and proven methods refined in partnership with leading industry servicers.
Expertise Across All Portfolio Types
Whether you’re servicing prime, near-prime, or subprime loans, leases, or balloon notes, defi COLLECTIONS can efficiently manage your auto or consumer lending portfolio.
Proven Debt Collections Management Service
The experienced professionals in defi COLLECTIONS employ a proven, multi-tiered collections process and extensively use automation to maximize recovery.
Multi-tiered Collections Process
defi’s debt collections management service uses a multi-tiered process based on the stage of delinquency. Unique collection treatment plans applied at the account level maximize returns and protect your brand. Predictive outbound collection campaigns proactively prevent defaults. Bankruptcy, legal, and repossession management address late-stage accounts.
Focus on fraud detection, contact data verification, and borrower education.
A fraudulent loan requires quick action to minimize loss. Verification is key to successful collection management.
Borrowers fall behind on payments for many reasons and benefit from coaching by our agents regarding options to pay and stay current.
Recovery Specialist Training
to ensure compliance with regulations, including:
- Reg Z (Truth In Lending Act)
- Reg V (Fair Credit Reporting Act)
- Servicemembers Civil Relief Act
- Military Lending Act
- Reg F (Fair Debt Collections Practices Act)
- Reg B (Equal Credit Opportunity Act)
- Unfair Deceptive and Abusive Acts and Practices
- Reg P (Gramm Leach Bliley Act)
- Reg E (Electronic Funds Transfer Act)
- Telephone Consumer Protection Act
- Reg M (Consumer Leasing Act)
- State Debt Collection, UCC, UCCC
- CDIA’s Credit Reporting Resource Guide
Innovative Technology Boosts Efficiency
defi’s debt collections management service uses the defi SERVICING platform to track delinquent accounts by employing rules-driven workflows. Automation eliminates the variability and inefficiency of manual tasks and optimizes the collections process. The benefit—increased efficiency and reduced compliance risk.
Optional integration with a bankruptcy monitoring service provides electronic notifications for accounts filing for bankruptcy and updates regarding bankruptcy activities. This approach removes the risk of bankruptcy stay violations resulting from missed notifications or inaccurate data.
defi SERVICING facilitates the speedy and cost-effective liquidation of repossessed vehicles and other assets.
Compliance risk is further mitigated with a Compliance Management System (CMS) that addresses Consumer Financial Protection Bureau (CFPB) requirements. defi’s CMS comes with three lines of defense to help prevent violations of CFPB, FFIEC, and state regulations.
- Senior management guides the development of defi products and services to ensure compliance.
- Legal and compliance teams monitor risks, controls, and regulatory changes.
- The board of directors and an independent audit committee provide oversight of senior management, legal, and compliance decisions.
White-labeled End-to-end Collections Management
defi COLLECTIONS provides a white-labeled debt collections management service that operates under your brand and reflects your values. Recovery professionals using innovative technologies and proven methods cost-effectively maximize returns while mitigating risk. To learn more about defi’s debt collections management service contact our team today or download this brochure.