Collections & Credit Risk articles from June 2007

Collections & Credit Risk archives from June 2007

Can We Talk...about Specifics?(Column)
June 1, 2007... Time for my annual reality check column. This is for all the vendors who serve the collection and credit risk space. We had a very frustrating time on one article this month. We wanted to look at how various agencies, banks and others are using...

Debt Buyers' Profits Stable to Improving, 2007 Outlook Healthy for Purchasing.(Portfolio Recovery Associates Inc., Asset Acceptance Capital Corp., West Corp.)
June 1, 2007... This may be a growth year for consumer-debt purchasers, judging from the first-quarter performance of a trio of publicly traded companies and their bullish remarks. Among those that reported first-quarter 2007 financial results prior to...

Debt Buyers' Revenue & Income.(Statistical table)(Brief article)
June 1, 2007... (in thousands except per share) 1Q 2007 1Q 2006 % change Asset Acceptance Capital Corp. Revenues $67,306 $67,380 -0.1% Net income $9,851 $12,590 -21.7% EPS ...

Healthcare Faces Laws, Regs, Scrutiny.
June 1, 2007... Talk of healthcare providers struggling with complex revenue cycles, tectonic shifts in the healthcare industry and the web of pending laws and regulations that could shadow billing and collections filled April's annual healthcare collections...

Knowing the Score on Productivity: Collection agencies are using scoring models to help determine how best to apply resources when crafting treatment strategies.
June 1, 2007... As collection agencies put a higher premium on boosting productivity and cutting costs, scoring models are becoming more important strategic as well as tactical tools used to meet those goals. Such models are being used to provide such key...

Meet Commercial Collections' Dynamic Duo: Diverse backgrounds and commitment to professionalism characterize the elected heads of two commercial trade groups. Here's what others can learn from them.
June 1, 2007... Leading the commercial collection industry's two largest trade associations is no small task, but Paul Eisenberg at the International Association of Commercial Collectors and Marc Hirschel at the Commercial Collection Agency Association relish...

Marc Hirschel.(Brief article)
June 1, 2007... "I learned I had a gift for negotiating, and reasoning with people from their point of view, and collections came naturally to me." Association Role: Chairman, Commercial Collection Agency Association Elected: July 2006 Day Job:...

Paul Eisenberg.
June 1, 2007... "Our goal is to continue to build membership, which is now at an all-time high of 430, while we continue to educate people and maintain our high standards." Association Role: President, International Association of Commercial Collectors...

Mortgage Tsunami: Mortgage lenders and collection agencies attuned to the market are using a variety of strategies to keep borrowers in their homes and losses to a minimum.
June 1, 2007... A collection agency owner thinking about expansion these days wouldn't find it unreasonable to think that collecting on delinquent mortgages could be a great source of new business. It's difficult to pick up the business pages of any...

Mortgage Tsunami Facts...
June 1, 2007... * The national mortgage delinquency rate climbed to 2.87% in the first quarter from 2.51% at the end of last year, according to a study by Equifax Inc. and Moody's Economy.com. * Mark Zandi, chief economist at Economy.com, predicts that...

...And How Collections are Being Done.(Brief article)
June 1, 2007... * Apply different collection treatments for different types of accounts. * Use auto dialers, agent calls, letter campaigns and skip tracing. * Put accounts through risk models and analyze borrower data. * Continue scoring the...

Lenders Look to Refi to Avoid Defaults.
June 1, 2007... Rather than simply give up on troubled borrowers, many lenders are modifying mortgage terms and types to help keep borrowers current in their payments. Countrywide Financial Corp., which reported a $400 million drop in revenues in its...

The Mid-Year Washington Outlook: Reviewing the FDCPA will be a major issue. Other topics for legislators and regulators will include 1099-Cs, autodialers and data privacy.(Fair Debt Collection Practices Act)
June 1, 2007... Flashback to 1977 - the Son of Sam is captured in New York, Rocky wins the Best Picture Oscar, Jimmy Carter becomes president and, elsewhere in Washington, D.C., Congress creates the Fair Debt Collection Practices Act (FDCPA). The debt...

The Collection Industry's Political Money Trail.
June 1, 2007... I. Top 2007 ACPAC Individual Contributors James Christensen president, J.C. Christensen & Associates $5,000 Mark Davitt president, ConServe $5,000 James Richards president, West Asset Management $5,000 Jay D. Rickman...

The FTC Congressional Wish List.(Federal Trade Commission)(Fair Debt Collection Practices Act)(Brief article)
June 1, 2007... The Federal Trade Commission in 2005 proposed to Congress that it adopt eight amendments to the Fair Debt Collection Practices Act. Legislators adopted two, and now the FTC is asking industry experts to comment on these six remaining proposed...

The Debt Buying Business: All Grown, or Is It?: Debt prices are sustainable when viewed in the broader context of a changing credit business.
June 1, 2007... At the end of 2005, we described in this column the heavy speculation that the entire industry was sitting on a bubble - portfolio prices were at all-time highs and climbing, private equity investors were setting jaw-dropping enterprise...

Stats: Credit Card Issuers' Chargeoffs.
June 1, 2007... (in 000s) % Issuer 1Q 2007 1Q 2006 change JPMorgan Chase $1,314,000 $1,016,000 29.3% American Express (1) ...