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What is 2012 bringing?

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  • What is 2012 bringing?

    To lender's and agent's, what are some of the biggest challenges you anticipate facing within your industry in 2012?
    Kel

  • #2
    most of the groundwork has been done....most of the anguish is over....i predict a flat 2012 with the usual tax time slump....the ones of us who have survived will probably continue to thrive....the rumor mill will continue....towards the end of the year auto sales should pick up....we'll see some forwarders go away, agents go away, mergers in the lending circles, and hopefully the sky wont fall

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    • #3
      Originally posted by Bryan/Faith Financial View Post
      most of the groundwork has been done....most of the anguish is over....i predict a flat 2012 with the usual tax time slump....the ones of us who have survived will probably continue to thrive....the rumor mill will continue....towards the end of the year auto sales should pick up....we'll see some forwarders go away, agents go away, mergers in the lending circles, and hopefully the sky wont fall
      That is a pretty accurate statement I would say...

      Heavy Equipment has been on a fairly steady increase, the tax time slump does not usually have an impact on the heavy equipment for us but it does on most eveything else.

      The election should be very interesting, so I am looking forward to that too.

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      • #4
        Since yesterdays appointments by Obama, I have reservations on how much the Feds will put the brakes on the lenders. The appointment of CFPB head Richard Cordray without Congress approval and the fact he mirrors Osama Obamas ideas may have a hugh impact that could reach as far as the little repo guys with regulations. The NLB had three appointments of pro labor people that may well decrease competition and raise prices of goods we repossess that will make them unfordable to many thus cutting business to us.

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        • #5
          to me trying to get c.a.r.s to let me work for them but virginia doesnt want me

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          • #6
            Originally posted by jkingjr123 View Post
            to me trying to get c.a.r.s to let me work for them but virginia doesnt want me

            Why? Because she does not nee an agent in your area or because she just doesn't want you?

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            • #7
              Originally posted by jkingjr123 View Post
              to me trying to get c.a.r.s to let me work for them but virginia doesnt want me
              I am sure when we need an agent in your area that Virginia will give you a try
              Kel

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              • #8
                Originally posted by jclark View Post
                Since yesterdays appointments by Obama, I have reservations on how much the Feds will put the brakes on the lenders. The appointment of CFPB head Richard Cordray without Congress approval and the fact he mirrors Osama Obamas ideas may have a hugh impact that could reach as far as the little repo guys with regulations. The NLB had three appointments of pro labor people that may well decrease competition and raise prices of goods we repossess that will make them unfordable to many thus cutting business to us.


                yep.....watching that circus just like you....same reservations.....so here's my plan....in the past i've supplemented by doing mechanics leins(its still legal here in texas altho getting a title has become more of a pain)....but when they regulate us out, i'll call the local cable channel group and have em come out....then i'll buy me some commercials, put some really hot girls in cowboy boots and daisy dukes next to our wreckers....dream up some cheesy jingle and start a towing business....betcha i can start invoice'n within days.....i aint married to this, only comfortable....wont change unless forced, and wont look back once the change happens

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                • #9
                  Originally posted by Skippy View Post
                  Why? Because she does not nee an agent in your area or because she just doesn't want you?

                  yes they have what they need here

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                  • #10
                    good luck Johnny, I'm ahead of you on that list. I did work for them for TM, but can't get any assignments otherwise. They sent me one (probably by accident) for another lender. It was a reassign and I had it picked up within 6 hours. You would think that would get me at least 1 more order.... but no.
                    I don't know why. I know everyone on here raves about their work, I just can't get any of it, and now that TM is no longer on with CARS I guess I won't see any more.

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                    • #11
                      I would like to see 2012 bring an end to contingency fees. On the insurance policies that recovery agents have to carry, is there a clause that pertains to contingent work?
                      Kel

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                      • #12
                        No, not with RSIG policy. The problem with such an exclusion is the number of insurance companies dabbling in the market, since it is a soft market even if a few did exclude many would not so they would be one up on those who followed the exclusion. RSIG is the only insurance provider that is 100% repossession, others write life, property, and health insurance and do not rely on just the repossession industry so if we did not cover contingency many more would. This would have to be a regulation through legislation to stop coverage for all insurers

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                        • #13
                          Originally posted by jclark View Post
                          No, not with RSIG policy. The problem with such an exclusion is the number of insurance companies dabbling in the market, since it is a soft market even if a few did exclude many would not so they would be one up on those who followed the exclusion. RSIG is the only insurance provider that is 100% repossession, others write life, property, and health insurance and do not rely on just the repossession industry so if we did not cover contingency many more would. This would have to be a regulation through legislation to stop coverage for all insurers
                          Thanks for the info...there has been quite a debate on LinkedIn under the Repossession & Remarketing Forum for the Financial Industry group about the contingency issue I have been following which made me ask that question.
                          Kel

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                          • #14
                            Im not a lender or agent but work at Roquemore & Roquemore. From our perspective I anticipate the business as being static or increasing. Sub-prime lending has been trending upward. Its sub prime for a reason.

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                            • #15
                              2012

                              Bryan hit the nail on the head for 2012
                              hope everyone here has a great year

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