Background Information & How it Works

Consumer credit ratings have been declining due to the economic down turn these last few years and the added risks associated with subprime ‘Special Financing’ have fallen directly onto the lender. This fact has led to a growing number of innovative lenders to turn to a Collateral Management Systems (CMS) to help them extend credit to a once overlooked group of borrowers. Today’s Collateral Management Systems (CMS) utilize GPS tracking 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 better control your portfolio. CMS rich data can also be directly integrated into your existing portfolio management system.

Real World Benefits

What if you could use CMS technology to enable “safe” lending, even to people with lower credit 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, banks 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, reduce collections cost and to minimize the risks associated with subprime lending.

Program

LoanPlus CMS also offers an express service program designed to take the hassle out of inventory management and installations for lenders, by having professional technicians install the GPS tracking devices for them either at the dealership or at the customers home. The technicians are trained, certified, and insured which allows lenders to maximize the full benefits of the CMS with complete operational 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.

LoanPlus CMS Express, the Industry’s Only Turnkey Solution

Ideal for small banks, credit unions and local lenders, LoanPlus CMS Express makes it more convenient for lenders to access the advantages of LoanPlus CMS by providing complete delivery services including installation, testing and certification of LoanPlus CMS GPS devices into vehicles financed through dealerships.

LoanPlus CMS Express service offers lenders a number of other industry-unique advantages designed to conserve costs and maximize resources. These include:

• No pre-purchase of devices
• Simplified inventory management and entry
• Increased productivity
• Reduced payroll-related costs
• Faster GPS installation and turnaround
• Improved GPS device performance

“With LoanPlus CMS Express service, lenders only pay for the GPS units they order, with no need to pre-order multiple units,” explains Chris Ellison, Director of LoanPlus CMS Express service. “Plus, we’ll keep track of the GPS devices we install at the dealership. This saves lenders a significant amount of time, and allows them to stay focused on closing more loans instead of managing inventory and worrying about shrink.”

Joe Gibbs Approved

Through a unique partnership with Spireon™, Joe Gibbs Racing (JGR) has driven the performance of its racing teams and its bottom line. Now JGR’s owner, former Super Bowl winning Coach Joe Gibbs, chose to partner with Spireon because of the company’s commitment to continual innovation and industry-leading technology.

Together, Spireon, and Joe Gibbs Racing have the winning formula and team to take you to New Levels of performance and profitability.

Call your LoanPlus sales representative to find out more about the LoanPlus CMS Express or visit the LoanPlus CMS website.