Consumer credit ratings have been declining and the added risks associated with subprime finance have fallen directly onto the lender. This fact has led to a growing number of innovative lenders turning to a Collateral Management System (CMS) to help them extend credit to a once overlooked group of borrowers. Today’s Collateral Management Systems (CMS) utilize GPS devices in the vehicle that transmit location and data via a cellular network to secure servers which can be accessed via encrypted websites, allowing you to monitor and control your portfolio. CMS data can also be directly integrated into your existing portfolio management system.

What if you could use CMS technology to enable “safe” lending, even to people with lower FICO scores? This technology could help you expand your lending portfolio and profitability. Plus, if you had technology that made your collateral – the automobiles themselves – more secure, you could price your loans more competitively.
That is why a growing number of finance companies, credit unions and sub-prime lending institutions are implementing CMS, a GPS vehicle tracking technology, to protect their collateral, increase loan originations and bulk purchases of commercial loans and to minimize the risks associated with subprime lending.

The key to efficient collection activity is a more strategic approach to collection – one that changes consumer behavior aided by new technologies. LoanPlus CMS guided by Spireon is an information platform that provides lenders the ultimate risk mitigation tool. LoanPlus not only makes it easy for lenders to locate their assets, but it's armed with electronic payment alerts to remind consumers of payment dates and automatic engine turn off features.

LoanPlus also offers an Express Program designed to take the hassle out of inventory management and installations for lenders, by having professional technicians install the devices for them. The technicians are trained, certified, & insured which allows lenders to maximize the full benefits of the CMS with complete operation verification of the GPS vehicle tracking devices.

• High Profile financial institutions implement the LoanPlus CMS technology to significantly increase their collections, which allows them to price their loans more competitively and expand their market share.
• Credit Unions find the benefit of the LoanPlus CMS in the overall effects it has on the consumer credit ratings, improving economy and lending market as a whole

To learn more about the features and advanced suite of tools that provides lenders with continuous asset monitoring, visit the LoanPlus website.