Standard Operations
Only 2% (one agency) claimed not to be in operation at the time of this survey. This is down from 5% during our last survey (12 agencies.) While percentages in repossession volume varied somewhat, involuntary repossession volume appears to have made a recovery now that most of the loan extensions, forbearances, moratoriums and shelter in place requirements have been lifted.
Staff levels appear to have been relatively unaffected according to results.
The participation in Federal assistance programs amongst the respondents was considerable.
Respondents demonstrated some skepticism (I know, skeptics in the repo industry, who would have figured?) in the return to normal assignment volume with a very large number believing that state and federal legislation will interrupt a return to normalcy.
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