Auto Remarketing & Repossession

PAR - Partners in Asset Recovery

Partners in Asset Recovery

Auto recovery management and remarketing can be a daunting task and can drain valuable internal resources for a credit union. In order to support credit union growth and success in auto lending and recovery, LEVERAGE has collaborated with PAR North America, a leading nationwide provider of vehicle transition services. PAR excels in recovery management, skip tracing, compliance, remarketing and title services freeing credit unions to do what you do best – serving your membership.

To learn more about how these products may benefit your credit union, please feel free to contact us at consult@myleverage.com

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Platinum Compliance

  • Provides lender 24/7 access to compliance management system
  • A comprehensive database of state-level recovery vendor requirements
  • All PAR and vendor due diligence including insurance certificates, relevant licensing, operational and enterprise policies, and even employee-level compliance data
  • Active vendor management for all recovery vendors including site inspections, certification/training, compliance tracking and daily monitoring of all performance activity

Skip Tracing

  • Waterfall skip tracing process
  • Top investigative data and resources
  • Team equipped with cutting-edge technology, including DRN and masterQueue

Remarketing

  • Nationwide auction network
  • Repo 360 Advantage™
  • Menu pricing at all PAR contracted auctions
  • Preferred lane placement
  • Value-added reconditionings
  • Online and live auction sales
  • NAAA Gold/Silver Certification

Recovery Management

  • Coverage across all 50 states
  • Fast & efficient assignment placement
  • 24/7 tracking capabilities
  • Dedicated client relations and process teams
  • Network of 650+ independent recovery vendors
  • Direct and real time integrations with all major recovery management tools

Title Services

  • Repossession titles and affidavits
  • Refinance titles
  • Lease to loan conversions
  • Title corrections and duplicates
  • Transfer of equity
  • 24/7 client access to monitor title processing
  • Member of National Title Solutions Forum

Q: What differentiates PAR from other asset recovery solutions?

A: PAR has a distinct advantage over its competition due to our corporate family connections under the KAR Global umbrella. PAR offers end-to-end solutions to meet your objectives: recover assets, manage cycle times, maximize returns, and reduce risk.

Q: How can PAR help my credit union with compliance requirements in asset recovery?

A: Through the Platinum Compliance® portal, credit union staff have direct access to due diligence and supporting compliance documentation for all recovery vendors, a comprehensive database of state-level requirements impacting recovery vendors, and all PAR and vendor due diligence including insurance certificates, relevant licensing, operational and enterprise policies, and even PAR employee-level compliance data.

Q: How can using PAR streamline my internal process?

A: The Platinum Compliance® self-service portal consolidates all due diligence and compliance documentation into one system—streamlining onerous internal processes for collecting and storing this information. The new system provides the added functionality of comparing compliance documents, reducing administrative work and making customer audits faster and more efficient.

The self-service portal provides credit unions with the flexibility needed to access due diligence and compliance documentation anytime and anywhere—without the assistance of a PAR representative.

Q: What benefits can PAR offer my credit union in asset recovery?

A: PAR equips credit unions with state-of-the-art technology that allows for fast, efficient placement of assignments and utilizes a secure, proprietary VIPR/eVIPR system that is fully integrated with the industry’s largest third-party technology platforms including iRepo/RC and RDN. This ensures that credit unions receive fast, real-time updates, hold/close notifications, repossession reports, condition reports and other associated documents. Accounts are also assigned out with an LPR provider simultaneous with conventional recovery efforts, providing for maximum recovery opportunity.