This week, repossession services provider Del Mar Recovery Solutions announced that the company expanded its partnership with MBSi Corp. to encompass MBSi’s new suite of products.

For the past several years, Del Mar Recovery Solutions has utilized MBSi’s iRepo platform to manage repossession assignments for many of its auto finance company clients. Del Mar Recovery Solutions will be expanding the partnership with MBSi with the adoption of Recovery Connect (RC) and Compliance Made Easy (CME), MBSi’s next generation assignment and compliance management platforms.

Executives explained the adoption of these two platforms allows Del Mar Recovery Solutions to integrate assignment and compliance management for full transparency of its agent network and assignment portfolio.

In today’s increasingly regulated industry, Del Mar Recovery Solutions said that it’s aiming to ensure that its agents are compliant, trained and meet the highest quality standards. MBSi’s CME suite, comprised of Contract Comply, Vendor Comply and Training Comply, along with the RC platform, not only can provide line-of-sight into the compliance status of each agent, but also can tie compliance data to the assignment level to ensure that each assignment is being serviced by qualified agents.

The RC platform that includes RC Office and RC Mobile can provide real-time field insight and efficiency during a recovery. Jeff Rau, senior vice president business development at Del Mar Recovery Solutions, said this level of transparency is geared to give clients the confidence in knowing that Del Mar Recovery Solutions can provide full agent compliance details, on-demand reporting and assignment-level compliance tracking throughout the repossession process.

“Utilizing these products will help bring these vital components into one ecosystem. This enables our staff to spend less time manually moving data between systems, and spend more time building stronger working relationships with our clients and vendors,” Rau said.

MBSi founder and general manager John Rhodes insisted MBSi is the first service provider to integrate compliance data down to the assignment level to offer the most complete and integrated assignment and compliance management solution on the market.

“We are pleased to be expanding our relationship with Del Mar Recovery Solutions,” Rhodes said. “Through our centralized vendor vetting database with complete compliance information, we have simplified Del Mar’s vendor compliance management.

"In addition, MBSi’s exclusive relationship with Recovery Industry Services Company (www.riscus.com) and their industry standard CARS (Certified Asset Recovery Specialist) training program allows Del Mar Recovery Solutions to provide its agents with continual education on the ever-changing compliance requirements of the auto repossession industry,” Rhodes continued.

Rau added that Del Mar Recovery Solutions believes that the transition to MBSi’s next generation platforms will provide significant benefits to its clients and vendors.

“We appreciate that change requires commitment and dedication,” Rau said. “We have thoroughly vetted these solutions and are confident that the long-term advantages of increased efficiency and compliance for our vendors will far outweigh any challenges.

“We began rolling out Recovery Connect 60 days ago and encountered some initial skepticism from some of our vendors, but after experiencing significant time reduction in recovery processing, those same vendors can’t imagine doing recoveries any other way,” he went on to say.