September 2020 “State of the Repossession Industry Survey” – Forwarders

FORWARDERS

Ah, yes, once again we visit the commonly maligned repossession forwarding industry. The dominators of massive swaths of assignment volume nationwide. The source of the repossession industries largest number complaints.

The responses to which forwarding companies agencies work for took a wild swing. According to the responses, forwarder participation has gone down dramatically across the board. Data also suggests that an even larger number of agencies have stepped away from their relationships with some or all forwarding companies.

Regardless of responses that show lower participation of reliance on forwarding companies, the average claimed volume from repossession forwarding companies was actually flat with a weighted average 49.35%.

In May, on a scale 1 = Poor, 5=Excellent, Secure Collateral Management showed with the highest weighted average satisfaction level, scoring a 3.01 of all of the polled forwarding companies. Fast forward to August-September and we see their score dropped dramatically, illustrating some possible manipulation of the May data on the first poll. In September the highest scoring repossession forwarder was A-1 Nationwide, who rose from a 2.56 to a 3.01 score, yet only 9% claimed to accept their work.