// CONSTANT EVENTS
OUTPERFORM YOUR LOSS PROVISIONS
Increase Recoveries through Loan Restructuring
With $427 billion of loan loss charges predicted for 58 US banks over a three-year period, modeling loss projections in a pandemic is largely based on macroeconomic factors with no visibility to the duration or recovery.
So what can lenders do within their control? This on-demand webinar featuring Constant's President Carissa Robb, FICO and American Banker, addresses key strategies to reduce charge-offs, increase recoveries and drop net credit losses in order to drive loss savings.
AUTOMOTIVE INTELLIGENCE SUMMIT
Strategies to drop net credit losses as extensions and deferrals expire
As auto lenders wind down their payment holiday programs, they should prepare for more complex loss mitigation efforts to help borrowers retain their vehicles. Strategies covered in this workshop include automated recasting for fee, restructuring, and refinancing. When it's not possible to retain the vehicle, automated voluntary surrender tools can help preserve the asset value.
Strategies to implement now
Key takeaways from this on-demand webinar featuring Constant, Oracle and Auto Fin Journal include:
• Recasts for borrowers that can afford it for a nominal fee. Make it faster and cheaper than refinance to maintain current rates and protect margins.
• Auto loan restructuring now versus at bankruptcy through reaffirmation agreements or cramdowns.• Auto short sales/short pay-offs to reach an amicable exit versus investors becoming vehicle owners as qualifying buyers are dwindling.
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