We are exceptionally proud to announce that Secure Collateral Management (SCM) has been honored with 1H 2025’s Excellence in Repossession Momentum Award by Wells Fargo Auto. This recognition is a powerful testament to our success in helping our lender partners significantly reduce charge-offs, prevent vehicle losses, and mitigate financial losses in their auto portfolios.
Driving Financial Performance, Not Just Recoveries
Auto lenders are facing a severe financial challenge driven by high default rates and surging recovery costs, compounded by regulatory pressures. The core financial pain points are staggering. According to our partner RDN, approximately 2.9 million repossessions are projected for 2025, which will place significant and financial strain across the country. Critically, according to the U.S. Automotive Industry Report, the portfolio quality is deteriorating, evidenced by 6.7% of subprime borrowers being 60+ days delinquent, representing a substantial, high-risk financial liability that points directly to greater future losses for lenders.
For SCM, this award specifically recognizes the momentum we have built in key operational areas that directly translate to financial benefit for our partners, including:
- Accelerated Recovery Times: Our specialized processes and LPR tech are designed to execute compliant recoveries faster, minimize depreciation and storage costs.
- Reduced Charge-Offs: By improving the speed and efficiency of recoveries, we help our partners secure more of their collateral before loans must be charged off.
- Unwavering Compliance: We maintain the highest standards of regulatory compliance, proactively reducing the legal and financial risk associated with repossession activities.
This commitment to performance must be why Wells Fargo Auto recognized SCM with this prestigious award.
A Valued Partnership in Loss Prevention
We extend our deepest gratitude to Wells Fargo Auto for this tremendous honor and for their exceptional partnership. Our collaboration with Wells Fargo has been a true example of how a provider and a lender can work together to innovate and deliver outstanding results. We deeply appreciate the trust they place in us to safeguard their assets and contribute directly to their loss mitigation strategy.
“We are deeply honored by this recognition from Wells Fargo. This award is a direct reflection of our team’s unwavering commitment to excellence, and it validates our dedication to consistently delivering the industry-leading services required to meet the high standards Wells Fargo sets for its partners.” – Joe Farley, Chief Sales Officer DRN | MVTRAC | SCM
Maintaining Momentum for Future Success
The Excellence in Repossession Momentum Award fuels our dedication to continuous improvement. We remain committed to investing in the people, processes, and technology required to set the industry benchmark for effective loss mitigation.
To learn more about how our award-winning strategy can help your organization reduce charge-offs and mitigate financial exposure, please contact our team.