Expand
Your Indirect Auto Lending Business Without Adding Staff
Many
financial institutions do not have sufficient internal staff or the expertise
necessary to work with independent auto dealers to grow their book of indirect
loans. The Indirect Lending division at Wolters Kluwer
Financial Services offers lenders an experienced and knowledgeable team of auto
finance experts skilled in executing the indirect lending process as a part of our AppOne RMS
service.
AppOne
RMS services ensure that your institution receives clean funding packages that
meet your lending guidelines and stipulations by providing end-to-end
management of the independent dealer loan origination process through the AppOne®
technology platform and dealer network.
Reduce
Risk and Fraud
AppOne
RMS processes are designed to remove business and regulatory compliance risk
and fraud from your indirect auto lending operations by providing the following
risk mitigation services:
- Dealership
due diligence and underwriting – our RECON independent auto dealership
underwriting process mitigates the risk of dealership fraud. All dealers must
go through an extensive underwriting process using our proprietary risk scoring
system prior to being accepted as an AppOne dealer. We conduct a thorough set
of credit and background checks, require a personal guaranty from each dealer
and conduct site visits and annual reviews.
- Dealer
F&I services – we assist dealers with lender program training and rehashing
and structuring of deals to ensure lender’s guidelines and requirements are
stringently applied.
- Vigilant
Documentation services – our staff receives all funding packages from the
dealers, performs fraud checks and ensures clean funding packages are sent to
each lender. We perform all of the comprehensive screens and checks you expect
from your internal resources, including:
- Identity
verification
- OFAC
screening
- CARFAX
check
- Contract
review and validation
- Identity
authentication
- Tracking
and monitoring of any suspicious activity
- Verification
of lender stipulations – we perform all funding package audits and
verifications to ensure compliance with each lender’s requirements.
- Produce
fully compliant loan documents
- Conduct
Red Flags Audits – we ensure full compliance with identity theft protection
procedures and regulations.
Every
Indirect Loan Transaction Is Managed to Your Requirements
Our
team of indirect auto lending experts provides end-to-end dealer relationship
management, handling all of the details of loan transactions and ensuring every
condition and stipulation is rigorously met to your satisfaction. Our
experienced staff provides the following functions for AppOne RMS customers:
- Contract
funding escrow and disbursement – we fully manage the flow of funds between
lenders and dealerships.
- Lien
perfection – we research titles and release contract proceeds to dealers upon
lien verification.
- Reserves
and chargeback management – we process and manage loan exceptions and chargebacks
to ensure conformance with all policies and procedures.
Grow
Your Indirect Auto Lending Business Through an Expanded Dealer Network
In
addition, the AppOne marketplace enables auto lenders to expand their sales by
providing an expanded network of pre-certified independent auto dealers.
- Access
a pre-certified network of thousands of independent
auto dealers who are looking for additional funding sources and programs.
- Use
AppOne’s loan application filters to receive only those applications that meet
your institution’s lending guidelines.
- Lower
your operational costs of processing, underwriting, closing and funding
indirect loans by managing dealer relationships through a single channel.
- RouteOne
subscribers implement quickly, without development resources, in less than a
week.
If
you need additional expertise and staff to help you take advantage of the
indirect auto lending opportunity, contact a member of the AppOne RMS team.
