True Accord

AUGUST 11, 2022

August 14 is National Financial Awareness Day , making it an appropriate time to shine a spotlight on initiatives that can help improve consumer financial awareness in the collections space. As reported by the Milken Institute , only about 57% of the American population is considered financially literate.

Acquisition 61

Acquisition Debt Recovery Education Student loans 61

Katabat

JANUARY 5, 2021

January 5, 2021, Wilmington, DE – Katabat, a leading global provider of debt management software solutions for lenders, fintechs, and collection agencies, announced today that it has acquired Simplicity Collection Software of Idaho Falls, Idaho. Terms of the transaction were not disclosed.

Collections 40

Collections Acquisition Collection Agencies Collections Agency 40

Katabat

JANUARY 5, 2021

January 5, 2021, Wilmington, DE – Katabat, a leading global provider of debt management software solutions for lenders, fintechs, and collection agencies, announced today that it has acquired Simplicity Collection Software of Idaho Falls, Idaho. Terms of the transaction were not disclosed.

Collections 40

Collections Acquisition Collection Agencies Collections Agency 40

Fico Collections

FEBRUARY 1, 2023

But among the critical learnings from the 2008 global financial crisis was the importance of flagging and helping at-risk and pre-delinquent borrowers as soon as possible to prevent financial disaster — especially when their deteriorating financial position was being influenced and undermined by a mix of external factors.

Lender 52

Lender Credit Bureau Collections Acquisition 52

Fico Collections

DECEMBER 8, 2022

As seen during the Great Recession, lenders again applied broad-based responses to manage the anticipated delinquency and loss impacts, this time making much heavier investment of payment accommodations such as forbearance and deferral programs across multiple consumer asset classes.

Lender 52

Lender Acquisition Financial services Loans 52

Jimerson Firm

OCTOBER 22, 2020

Sometimes, foreclosure of a commercial property is the only option available to lenders and servicers to limit losses as a result of defaults on hotel and restaurant mortgages. Parts 1-4 of this series discussed pre-foreclosure options available to lenders dealing with hotel/restaurant mortgage defaults. 702.015(4) , Fla.

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Foreclosure Lender Judgment Collateral 94

Fico Collections

MARCH 7, 2023

In banking and financial services within North America, our research shows that AI is an even higher priority now than 12 months ago for 52% of financial services organisations. Systems used in banking and financial services are firmly in scope and could be enforced as early as the second half of 2024.

Financial services 52

Financial services Banks Government Acquisition 52

Fico Collections

AUGUST 10, 2022

It is one of the biggest challenges lenders face over the next few years. Lenders could no longer base decisions simply on a customer’s history of repaying. Lenders have refined and improved their affordability models over the years in adherence to regulatory requirements. Affordability is top of mind.

Lender 52

Lender Banks Loans Acquisition 52

Katabat

AUGUST 5, 2020

The investment provides Katabat with significant resources to expand and enhance its industry-leading suite of debt collection products. Katabat is a recognized global leader in cloud-based debt collection managed service software products. Terms of the transaction were not disclosed.

Debt Management 52

Debt Management Collection Agencies Collections Agency Acquisition 52

Fico Collections

JULY 15, 2022

in 1989, it meant lenders of all sizes could leverage the technology of scoring and open up credit to consumers that they might not have lent to in the past. The lending and financial services industry can provide that social good, as long as it's done in a way that is both responsible and fair. Hundreds of lenders in the U.S.

Lender 52

Lender Education Acquisition Financial Institution 52

Fico Collections

MARCH 8, 2021

That’s why FICO has been focused on finding new ways to demonstrate responsible financial behavior so that lenders can confidently extend credit to more consumers. . Over the past several years, we’ve helped lenders develop on-ramps to mainstream credit using alternative data for those seeking financial inclusion.

Lender 52

Lender Credit Bureau Acquisition Financial services 52

Fico Collections

JANUARY 8, 2021

In this category, COVID-19 was a pressing topic but didn’t dominate the discussion as it did in the Debt Collection & Recovery category. FICO’s suite of interconnected Acquisition, Origination, and Growth capabilities for Telecommunications helps organizations do exactly that. Here are our top 5 posts from 2020. #1.

Acquisition 52

Acquisition Loans Financial Institution Lender 52

Collection Industry News

OCTOBER 21, 2022

Year-on-year profits for the third quarter dropped across all the main financial groups on Wall Street due to slower investment banking activity and more provisioning of safety funds to cover potential loan losses, despite the fact that rising interest rates also pushed up their revenue. Citigroup Citigroup had profits of $3.5

Banks 40

Banks Lender Acquisition Loans 40

Fico Collections

FEBRUARY 12, 2023

What can financial institutions learn from TikTok? Making enjoyable financial services content isn’t easy, but the medium matters a lot. The assumption here when it comes to customer development is that lenders need to understand how to create a more open ended pricing strategy that considers numerous relationship factors.

Banks 52

Banks Loans Startups Financial Institution 52

Fico Collections

DECEMBER 8, 2022

Building portfolio risk resilience into customer acquisition. During the highly uncertain time of the Great Recession, most lenders shifted management strategies by raising FICO® Score cut-offs significantly to achieve the same overall portfolio risk management profile for accepted applicants. FICO Admin. Thu, 12/19/2019 - 16:29.

Lender 52

Lender Acquisition Financial services Loans 52

Better Credit Blog

AUGUST 22, 2020

CCS Offices is a company that collects debts on behalf of original creditor. They do this by either purchasing the debt or collecting the payments and taking a portion for themselves. To do this, they must first open an account on your credit report that shows that they are authorized to collect on the debt.

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Debt collector Creditors Original Creditor Collection Agencies 53

Consumer Financial Services Law

MAY 10, 2017

The consumer alleged BoA was a debt collector under the FDCPA because his “loan was in default prior to the transfer from his original lender Countrywide to Bank of America.” The acquisition by merger was a key factor for the court which also relied upon prior Fifth Circuit precedent, Brown v. Bank of America, N.A., Morris , 243 Fed.

Debt collector 40

Debt collector Acquisition Financial Institution Foreclosure 40

Troutman Sanders

MAY 5, 2022

The Supervisory Highlights detail issues identified by CFPB examination teams across a wide number of segments of the consumer financial services industry. The CFPB reports that this seems to happen most often with creditors’ acquisitions of pre-existing credit card accounts from other creditors. Debt Collection.

Financial Institution 52

Financial Institution Repossession Debt collector Lender 52

Collection Industry News

MAY 9, 2022

The Supervisory Highlights detail issues identified by CFPB examination teams across a wide number of segments of the consumer financial services industry. The CFPB reports that this seems to happen most often with creditors’ acquisitions of pre-existing credit card accounts from other creditors. Debt Collection.

Financial Institution 40

Financial Institution Repossession Debt collector Student loans 40

Fico Collections

NOVEMBER 15, 2022

Right now, many banks and financial services firms are locked in a competitive arms race to deliver faster, smarter, suitably tailored experiences in a bid to set them apart from their peers. Successfully devising Next Best Actions / Next Best Offers is a win-win for lender and customer alike. FICO Admin. by Matt Cox.

Acquisition 52

Acquisition Banks Financial services Lender 52

Fico Collections

DECEMBER 15, 2021

Prior to COVID, digital transformation was gathering momentum in financial services and was then turbo-charged by the emergence of the pandemic. Many journeys (both acquisition and servicing) are now well-established in the digital channel and customers have adopted them at an accelerated rate out of necessity during lockdowns.

Financial Institution 52

Financial Institution Banks Lender Acquisition 52