The following is a guest post by Alex Price.
Greetings from the great state of Alabama Roll Tide Roll!
I tend to operate under the totem of the Bear, and as anyone with half a brain can tell you: Don’t poke the Bear. Well this Bear has come out of hibernation (my previously announced sabbatical) for this one-time blog post on a subject I felt compelled to share with all of you as we consider the annual gathering for the North American Repossessor Summit of 2014 in Dallas TX.
At the 2013 NARS convention I ran into a very old friend, Paul Kulas, with whom I had not spoken or seen in years. What started as a chance encounter developed into a 4-hour conversation in the lobby of the hotel, allowing our old friendship to click once again as though we had been speaking to each other every day. He was a scheduled presenter for NARS 2013, and he delivered one of the most engaging talks of the event. I truly hope they bring him back and give him more time to talk!
National Finance Adjusters (NFA), a structured business cooperative owned by the top industry leading recovery and remarketing professionals in the nation, today announced it has hired John Houston to join its growing team as the Director of Business Development. In his new role, Houston will be responsible for creating advertising and marketing strategies, executing sales presentations and producing a skip tracing program to help NFA expand its business products and services to new and existing clients.
Houston has more than 10 years of experience in the recovery and repossession industry. In his previous role, he was the Director of Business Development at Portfolio Recovery Association (PRA), where he focused on creating new business as well as implement programs, training and consultation services. His intimate knowledge of the auto loan and skip tracing industry allowed him to establish strong relationships with large lenders and significantly reduce their charge offs and overall financial losses. Houston will bring his expertise to NFA to help the company grow and to develop new lender leads. (more…)
We’re a month away from ARA’s 49th Annual Convention. Join us September 19-21, 2013 in Phoenix, Arizona for a weekend filled with relevant speakers, important industry-related discussions, networking and, of course, dinner and dancing. On Friday, we will be discussing the future of ARA and the recovery industry. This is one weekend you don’t want to miss.
Please help us prepare for another successful convention by registering your attendance HERE.
SECURE YOUR HOTEL ROOM AT OUR GROUP RATE
The convention will be held at the Embassy Suites Hotel Phoenix Scottsdale, and is the absolute perfect place to play a round of golf. The Stone Creek Golf Club is conveniently located at the hotel, giving you plenty of time to unwind after the convention. The group rate of $119 per night has been extended through Wednesday, August 28, 2013. Book your reservations today.
Dallas, TX (July 25, 2013) – The North American Repossessors Summit (NARS), an industry event hosted by the American Recovery Association, Inc. (ARA), Allied Finance Adjusters (AFA) and Time Finance Adjusters (TFA), is proud to announce the call for speakers is now open for its sixth annual event, to be held March 20-22, 2014.NARS’s 2014 theme, Reclaim Your Industry, is focused on attendees unifying to Stand Together to Revive Industry Standards.The NARS 2014 Planning Committee is seeking speakers who can share their knowledge and experiences based on this theme with topics that will help attendees professionally and personally.
“This is a huge opportunity for industry professionals to join together and participate in such a monumental event,” said Patrick Altes, CEO of TFA. “We are pleased to be co-hosting NARS, and we anticipate this will be the best event thus far.”
The summit is focused on open and collaborative discussions to address and improve the industry. More than 600 attendees are expected to attend NARS 2014.
“Now more than ever, we need to unite and take back our industry,” said Mary Jane Hogan, ARA’s President. “This is a goal that we can accomplish and NARS is the perfect outlet to help us get moving in the right direction.”
Interested speakers should email their proposal email@example.com. Those proposals should include the speaker’s full name, company, email address, phone number, bio, headshot, previous speaking experience and proposed topic with a short, yet comprehensive description.
This past April, nearly 500 people in the recovery and remarketing industries, including collateral recovery professionals, clients and vendors from across the U.S. came together in Dallas to participate in NARS. Compliance was the hot topic and the featured speakers discussed the impacts of new compliance laws and focused on how to continue to be successful in this industry.
NARS 2014 planning committee members include industry leaders from ARA, AFA and TFA and California Association of Licensed Repossessors (CALR), Illinois Recovery Association (IRA), Florida Alliance of Certified Asset Recovery Specialists (FLACARS), Rocky Mountain State Association (RMSA), Collateral Recovery Industry Resource (CRIR) and Masterfiles.
About North American Repossessors SummitThe North American Repossessors Summit (NARS) is an annual 3-day conference for professionals in the recovery and remarketing industry from across the country to come together to address key issues impacting their industry and businesses. NARS provides an open and collaborative environment for all recovery industry professionals to address challenges and complexities in the industry and lay out the foundation for the future. The summit welcomes recovery specialists belonging to every type of professional organization and association across the country. For more information, visit www.reposumit.com.
Although we’ve sent numerous announcements with details of the program, I am still getting a lot of questions from members. I want to reiterate several points and to share a couple of new ones with you today.
First, the program will end August 13th. It will not be extended. After the deadline, you will still be able to become a NFA CO-OP member, if you meet the required criteria. However, it will be for the full amount, which is currently $5,000.
Second, under the current plan if you have invested any amount of money into the ARMS program, this amount will be deducted from the $2,500 you must pay to join the new NFA. ARA will match the $2,500 amount, giving you a net investment amount of $5,000. This will enable all owners, both new and old, to be in the CO-OP for the same $5,000 figure. Every CO-OP member has an equal say in how the CO-OP is managed, which includes the election of officers, as well as having input about what the bylaws say that the CO-OP operates under.
Third, I have been asked about clients and potential clients. NFA is handling accounts for several clients, including Wells Fargo Dealer Services. NFA is currently completing an RFP for a major client. Obviously, if NFA had every ARA member on board today the chances would be even better to win the business. I have had conversations with several clients that like what ARA is doing with our compliance education and training program, as well as the monitoring program we are working on. This will help our members gain direct business and it will really strengthen the opportunity for the new NFA and our members to receive quality work from clients that will not abandon the forwarding model.
Starting this week, NFA will offer its Co-Op members a full refund to those who request it, should the viability of NFA fall into question before or at the inaugural meeting of all NFA members to be held Saturday September 21st in Phoenix at the Embassy Suites following ARA’s 49th Annual Convention. The meeting will be held right after the annual ARA awards breakfast, in the same room. In the meeting, a decision will be made as to how NFA moves forward. It will be the first time for everyone to come together and make a commitment to each other that we have chosen a strategy of co-petition to begin the process of healing and of reviving our industry.
The latest discussion has been about the long-term viability of the facilitation model. I think it is excellent, but only if we, as an industry, get behind it and begin to pull together in one direction. One of the words Paul Kulas used at NARS and again recently on a LinkedIn blog is “co-petition.” I think of it in the NASCAR vernacular. As a team owner, I want my driver/car to win. But as a Ford, Chevrolet or Toyota partner, my second choice is for my brand to win should I not. Teams that compete every day share information amongst each other because they all get better. As an industry, all brands cooperate on many aspects of the sport because it makes the sport better. As the sport improves so does fan loyalty and money, which in the end benefits all of the teams.
I know this model works in our industry. Russ Dewitt and I did it for many years as fellow ARA members in the same city. When a client would comparison shop price, if I could not land them on the spot then I gave the client Russ’ phone number with the idea that I would rather him get the business and keep it in the ARA family than have it go to a non-association member. Also, I was positive Russ wasn’t going to cut his price just to take business from me because he knew I wasn’t cutting mine to take his.
Please take time to call and ask about what it takes to be involved. You can call me at 972-755-4755 (office) or 512-826-8525 (cell), or email me at firstname.lastname@example.org. You may also contact Darren Frame at 623-516-1018 or Darren@NFACoop.com.
We’re only two months away from ARA’s 49th
Annual Convention. Please help us prepare for another successful convention by registering your attendance HERE.
Join us September 19-21, 2013 in Phoenix, Arizona for a weekend you don’t want to miss. Located in one of nation’s premier golfing destinations, the Embassy Suites Hotel Phoenix Scottsdale is a perfect place to play a round of golf. The challenging Stone Creek Golf Club is conveniently located at the hotel, giving you plenty of time to unwind after the convention. We’ve secured a group rate of $119 per night, so book your reservations today. The group rate expires Saturday, August 17, 2013.
This will be a very great year for ARA and we have some very exciting events lined up for you to enjoy. On Thursday, we will have speakers and clients joining us for important discussions. Friday, we will cover ARA business and hold elections, as well as our dinner and dance celebration that evening. On Saturday, we’ll close the convention with our awards breakfast.
See you in Phoenix!
NARS 2014 planning has begun, and we’d love your input to help plan it! If you haven’t already done so, please take a moment to provide us with vital feedback to help improve your experience at this year’s NARS.
Please fill out this brief survey by July 12, 2013.
We appreciate your feedback and look forward to NARS 2014! Thank you for your participation.
In an attempt to clarify some misunderstandings, and add factual information to the discussion, ARA is addressing the new requirements placed on the lending industry (the banks) by the CFPB that are also affecting us as third party service providers.
Lenders have been forced to make these changes because of what the law requires of them. This is not some arbitrary set of requirements that some vendor department thought up and placed on us. To be compliant, the lenders that hire us must adhere to the rules placed on them by the CFPB and the federal government. The CFPB has issued a bulletin numbered 2012-03 that is available to you to read so you, as a businessman, can understand compliance from the CFPB’s own directive. I am aware that each lender will develop its own risk-mitigation standards, but they will be based on this published directive.
Hostile blog posts and over-emotional comments about the banks are just showing how out of touch some people are with what is happening in their own industry. In many cases, I find that it looks like these attacks are on the “messenger” and not the authorities at the upper levels of the lender that made the decision. I am sure that almost all of these edicts are being handled at the senior compliance officer level and not at the recovery vendor manager level. I do not see where it is helpful to our industry’s image to attack those that are, many times over, trying to help us. Frankly, it makes us look unprofessional – which is the opposite of what we pride ourselves in being.
ARA strongly suggests that all agencies get a copy of CFPB third party servicing rules, and read them to see where/how they apply to you. If you have a lot of extra reading time, take a look at the CFPB act (Dodd-Frank) to get a taste of what our clients are up against. Hopefully, you, as an agency owner, will see why we have to become verifiably compliant. It’s not the lenders, as stated earlier.
Those who choose to say no to compliance verification services will only make it better for those of us who are willing to comply. The banking community has no say in this; it’s the Federal Government that’s dictating these laws. This is something we, as recovery professionals, need to get on top of – not fight or push against it. We should own it, embrace it, and we will prosper from it. Those who choose not to comply give their client no alternative but to find an agent that has become verified compliant.
I am proud that ARA has recognized the need for compliance training and verification and is working quickly to provide a solution from which our members will benefit. The track we are on now will only lead to more splintering within our industry and an increased financial burden on agency owners.
ARA Past President
Dear ARA Member-
Since the announcement of the ARA and NFA merger and the combining interests of the ARMS program and Reliance CO-OP, we’ve been asked many questions from the membership. The purpose of this post is to clarify some important points.
In a CO-OP, each member is an equal owner with an equal say in the direction of the business. The ARA Board negotiated a deal so that every ARA member has a 90-day window to have their initial $2500 investment in the new NFA matched with a similar $2500 investment from the old NFA treasury. This allows everyone to be an equal investor in the CO-OP with a similar investment of $5000. In order to take advantage of this matching program, you must sign up by August 13. (more…)
As we are putting the final design touches on our new website, I thought it was important to share this our members. Chris was a vendor at NARS and asked about getting on our member resource page as a preferred vendor. Since we are working to repair the resource page, I am publishing this for your review.
No matter who is doing your website, it is more important than ever to get it up to speed technologically. I am told that once our new site is finished that, when combined with our members’ personal sites, we will be able to take advantage of the search engines’ process and elevate the relevance and standing of all of our sites.
Here is the breakdown: Search engine ranking is pulled from various factors. One of the largest of these factors is link building. The more fresh, popular, and relevant a website is, the more valuable it is to link to and, therefore, the higher your website appears on organic searches. In other words, with the launch of the new repo.org, by linking to your website from ours, the higher your ranking will be. And, if you work to keep your website in top shape, not only will your search engine popularity grow higher, but ARA will also reap the same link-building benefit.
Please see Chris’s note below, and have a great day.
American Recovery Association
Hello ARA Members,
Do you want to improve your online presence? A strong web presence in today’s digital realm is more important than ever before. Does your website reflect the professionalism your company is known for? Does it offer a client friendly layout?
We, at Repo Solutions, support and admire the goals of the ARA in its pursuit of professionalism and seek to extend our services to all ARA members to assist you with your professional digital presence. We are currently offering ARA members sharply discounted rates. Whether you need just a logo, or complete website creation, we have the skill and ability to deliver what you need. With 15 years of combined repossession industry experience, we can assure you that we provide a truly functional solution for your repo business.
We offer the following services:
· Website Design
· Website Redesign
· Website Maintenance
· Website Hosting
· Email Hosting (POP/IMAP & Exchange available)
· Domain Name Registration
· Search Engine Optimization
· Website Security
· Brand Identity (Graphic Design, Logos, Letterheads, Business Cards, and more)
· Dynamic Forms, both Online and in Print
· And much more!
Call us today and let us help you find the solution your business deserves!
Chris Lewis – Web & Graphic Designer | Repo Solutions
Real Solutions, Real Results | http://www.reposolutions.net
Toll Free: 877-994-7376 | Phone: 724-252-7376