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The Value of Certainty

If you are responsible for overseeing non-performing loans in the loan servicing portfolio, then you are most likely seeking to have certainty in your daily processes. How is this coming with the rising delinquencies we're seeing in the automotive and credit card sectors?


The NBS (National Bankruptcy Services) platform offers Consumer Bankruptcy Services tailored to assist Consumer Lenders in navigating the complexities of bankruptcy efficiently and compliantly.


NBS provides a comprehensive bankruptcy platform covering all 94 jurisdictions, aiming to ensure compliance, reduce risk, and lower costs for Consumer/Mortgage loan servicers.


The services include managing vendors, scalability, technology utilization, and legal navigation. NBS emphasizes delivering service with certainty, turning Mortgage Lenders into leading organizations in servicing bankruptcies. Key aspects include jurisdictional coverage, data integration, stakeholder engagement, backlog resolution, and a path to certainty through detailed planning and execution.


The services aim to improve delinquency rates, reduce expenses, enhance reaffirmation rates, decrease auction hold times, and ensure high-performing ratios for clients. The focus is on reducing servicing costs, loss severity, ensuring compliance, mitigating risks, and increasing payment frequency for their stakeholders and clients.





Here are ten key pains and outcomes that NBS (National Bankruptcy Services) aims to help solve for Consumer Lenders:


1. Compliance Challenges: NBS helps Consumer Lenders navigate the evolving bankruptcy environment, ensuring compliance with regulations across all 94 jurisdictions.

   

2. Vendor Management: NBS assists in managing multiple vendors efficiently, streamlining processes, and reducing complexity for Consumer Lenders.

   

3. Scalability Issues: NBS provides solutions for scaling up or down quickly based on business needs, ensuring flexibility and efficiency in managing bankruptcy cases.

   

4. Technology Utilization: NBS offers technology-driven solutions to enhance performance, automate processes, and improve operational efficiency for Consumer Lenders.

   

5. Legal Navigation: NBS helps navigate the complexities of bankruptcy law, reducing the risk of non-compliance and legal challenges for Consumer Lenders.


6. Expense Reduction: NBS aims to lower servicing costs for Consumer Lenders, helping them optimize expenses and improve financial performance.


7. Risk Mitigation: NBS assists in identifying and mitigating risks associated with bankruptcy cases, safeguarding Consumer Lenders against potential financial losses.


8. Improving Payment Frequency: NBS works towards increasing payment frequency for Consumer Lenders, ensuring a steady cash flow and financial stability.


9. Enhancing Reaffirmation Rate: NBS focuses on improving the reaffirmation rate, which can lead to stronger borrower relationships and reduced risk for Consumer Lenders.


10. Decreasing Auction Hold Times: NBS aims to reduce auction hold times, facilitating quicker resolution of bankruptcy cases and minimizing delays in asset recovery for

Consumer Lenders.


Does this story resonate?


Once upon a time, in the bustling headquarters of a major bank's auto division, CEO Sarah and Head of Servicing Alex were faced with a daunting challenge. Their team was struggling to efficiently navigate the complexities of bankruptcy cases, leading to compliance issues, high servicing costs, and prolonged auction hold times. Determined to transform their operations, they turned to NBS (National Bankruptcy Services) for assistance.


With NBS by their side, Sarah and Alex embarked on a transformative journey. By leveraging NBS's comprehensive bankruptcy platform covering all 94 jurisdictions, they were able to streamline processes, enhance compliance, and reduce risk. The CEO and Head of Servicing worked closely with NBS to implement innovative technology solutions, automate workflows, and optimize vendor management practices.


As a result of their collaboration with NBS, the bank's auto division witnessed remarkable outcomes. Servicing costs were significantly reduced, reaffirmation rates soared, and auction hold times were drastically decreased. Sarah and Alex were thrilled to see an increase in payment frequency, improved borrower relationships, and a substantial boost in financial performance.


Their success story spread like wildfire within the industry, with the bank's auto division being hailed as a pioneer in servicing bankruptcies with certainty. Sarah and Alex were celebrated as the heroes behind this remarkable transformation, showcasing how strategic partnerships and innovative solutions can drive unprecedented results in the world of consumer lending.


Thanks to their vision, leadership, and partnership with NBS, the bank's auto division not only overcame their challenges but emerged as a shining example of excellence in the realm of bankruptcy servicing. Their journey with NBS had not only transformed their operations but had also set a new standard for the entire industry to follow.


In partnership with NBS, CEO Sarah and Head of Servicing Alex of the bank's auto division achieved extraordinary results that reshaped their bankruptcy servicing operations. Here are the key stats and outcomes they accomplished:


1. Reduced Servicing Costs: By leveraging NBS's solutions, the bank saw a remarkable 25% reduction in expenses related to bankruptcy servicing, resulting in substantial cost savings.


2. Improved Reaffirmation Rate: The reaffirmation rate experienced a significant 20% improvement, reflecting strengthened borrower relationships and enhanced recovery outcomes for the bank.


3. Decreased Auction Hold Times: Auction hold times were reduced by an impressive 50%, leading to quicker resolution of bankruptcy cases and expedited asset recovery processes.


4. Increased Payment Frequency: Through streamlined processes and efficient management, the bank achieved a substantial increase in payment frequency, ensuring a more consistent cash flow.


5. Enhanced Compliance: Working with NBS, the bank achieved a 100% compliance rate across all 94 jurisdictions, mitigating risks and ensuring adherence to regulatory requirements.


6. Optimized Vendor Management: Vendor consolidation efforts resulted in a 75% reduction in vendor count, simplifying operations and improving efficiency within the servicing division.


7. Boosted Financial Performance: The bank's auto division experienced a 30% improvement in financial performance, attributed to the cost savings, increased revenue streams, and operational efficiencies enabled by NBS.


These impressive stats and outcomes not only solidified the bank's position as a leader in the industry but also highlighted the strategic vision and collaborative efforts of CEO Sarah and Head of Servicing Alex as the driving forces behind the successful transformation of their bankruptcy servicing operations.


Together, they set a new standard for excellence and innovation in the realm of consumer lending, showcasing the power of strategic partnerships and forward-thinking leadership in achieving unprecedented results.




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