HOUSTON--(BUSINESS WIRE)--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.
Lien Solutions, which is part of Wolters Kluwer’s Governance, Risk and Compliance division, provides award-winning solutions for lenders, including its flagship iLien offering, which gives lenders the ability to conduct public record searches, retrieve and view Uniform Commercial Code and corporate records, create filings, and manage their entire lending portfolio. Its iLien Motor Vehicle offering is an award-winning SaaS platform that transforms vehicle and equipment titling work. It helps lenders maintain loan perfection, monitor and manage vehicle liens efficiently, and release titles effortlessly.
iLien offers comprehensive analytics, reporting, monitoring and auto-continuation capabilities, improving lenders’ ability to holistically view lien portfolios, help them mitigate risk, and improve the quality and efficiency of their operations.
About Wolters Kluwer Governance, Risk & Compliance
Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.
Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2019 annual revenues of €4.6 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.
