Attorneys Tom Hudson, Michael Benoit, Ralph Rohner and Hudson Cook Team Update Award Winning Book – CARLAW® F&I Desk Book

CounselorLibrary.com, LLC, the publisher of multiple products and resources for the consumer financial services and privacy industries, today announced that it has updated its popular CARLAW® F&I Legal Desk Book.  Winner of the Axiom Business Book Award, the book gives readers 363 things to know about auto, boat and RV dealer finance laws and regulations.  This is the brand-new 8th edition of this classic compliance resource.

CARLAW® F&I Legal Desk Book (8th edition) – The Answer Book for Finance and Insurance Professionals, presents a law-by-law, regulation-by-regulation guide through the legal maze that dealers face every day.  Authored by Thomas B. HudsonMichael A. Benoit, Ralph J. Rohner and the attorneys at Hudson Cook, LLP, this new edition reflects the latest updates to the federal laws and regulations affecting F&I practices.  Formatted in a straightforward “Q and A” design, CARLAW® F&I Legal Desk Book (8th edition) – The Answer Book for Finance and Insurance Professionals addresses many of the everyday compliance issues dealers face and includes links to the actual laws and regulations discussed in each chapter.

The 390 page “CARLAW® F&I Legal Desk Book (8th edition)” is designated as the Official Textbook for the Association of Finance and Insurance Professionals’ Certified F&I Professional Program, and is available for $49.95 (plus shipping and handling) at www.counselorlibrary.com/f-and-i-8th.

The Reynolds and Reynolds Company has featured earlier editions of the book, and is pleased to announce that, once again, it will be hosting a book signing of the 8th edition at its booth at the NADA 2019 Convention in San Francisco, January 24-27. Both Tom Hudson and Michael Benoit will be signing these books at the convention. Attendees of the book signing will receive a complimentary copy.

About CounselorLibrary.com, LLC

CounselorLibrary.com, LLC, an affiliate of the law firm of Hudson Cook, LLP, is the leading compliance resource for the consumer financial services and privacy industries, providing comprehensive coverage and analysis of federal and state laws, regulations, and litigation. CounselorLibrary.com, LLC, offers online compliance database and update services, including industry standards CARLAW®HouseLaw®PrivacyLaw®InstallmentLawTM and Spot Delivery®.

About Hudson Cook, LLP

 Since 1997, Hudson Cook, LLP has been advising clients on state and federal consumer and commercial financial services, banking and privacy compliance, regulation, enforcement and supervision. With more than 55 attorneys in 13 offices across the country, the firm provides local, national and international clients with practical, efficient and innovative solutions that advance their underlying business goals. Hudson Cook has been named for the ninth consecutive year to Auto Remarketing’s The Power 300 – The Most Powerful Companies in the Pre-Owned Business and has been nationally ranked in Financial Services Regulation Law for a seventh consecutive year by U.S. News & World Report and Best Lawyers.

For more information, visit www.counselorlibrary.com and www.hudco.com.

Ignite Consulting Partners Kelly Blankenship Nominated for Mentor Award of the Year for Advancement of Women in Compliance

The C5’s Women in Compliance recently announced their Women in Compliance Awards Shortlist nominees for the 2019 Women in Compliance. Kelly Blankenship, from Ignite Consulting Partners in Dallas, Texas is one of 10 global nominees for the Mentor Award of the Year for Advancement of Women in Compliance.

The Mentor Award of the Year for Advancement of Women in Compliance is open to individuals who help to influence, inspire, encourage and who have a positive impact on the personal and professional development of other women in compliance. The global nominees are individuals who have advised, supported and made real differences in other women’s careers from encouraging a woman to apply for a job, to providing women with the confidence and knowledge to make high level strategic decisions.

The annual Women in Compliance Awards are known as “the ultimate celebration of the achievements female compliance professionals makes daily in the world of compliance and business”. The Awards embody the very best of individuals who bring into focus the efforts of compliance according to organizer C5.  The black-tie event, featuring a champagne reception, formal dinner and celebrity entertainment, will be held on March 28th at the London Marriott Hotel Grosvenor Square, in London.

The nominees are judged by other industry influencers and senior professionals within the UK, European and Global compliance and regulatory sectors. The Women in Compliance Awards are the first industry awards to recognize and celebrate the achievements of women in the regulatory compliance industry.

Ms. Blankenship is extremely honored and humbled to be on the shortlist for the Women in Compliance Awards and is looking forward to attending the award ceremony in London. Blankenship says it is an awesome opportunity to represent the United States and Ignite Consulting Partners. She also looks forward to bringing compliance content and tracks to the June NAF conference along with the conference committee.

To see the list of all the nominees who made the shortlist please follow the link https://www.c5-online.com/women-compliance-awards-3/shortlist/

The C5 group of companies include C5 Group, L’Insitut Canadien, American Conference Institute and Canadian Institute

PassTime Announces LTE Category M GPS Device

LITTLETON, Colorado – March 27, 2018 – PassTime, a leading provider of GPS Solutions announced the all-new TRAX 6 device, the industry’s first LTE Category M GPS tracking device serving new and used car dealers, finance companies, fleet and powersports dealers.

The TRAX 6, certified on Verizon Wireless, features LTE Cat M (category M) technology which boasts extremely low power consumption from the device as well as network longevity in using some of the newest network technology available. These enhancements will complement the robust feature set already available on TRAX.

“I am excited to bring another cutting-edge product to the market.  PassTime continues to shatter expectations in terms of innovation with TRAX 6, the industry’s first LTE Cat M GPS device,” said PassTime President and COO, Chris Macheca.
PassTime, which has been in business for more than 25 years, provides GPS solutions for customers to connect their vehicles and protect their assets. The company prides itself on providing high-quality and reliable products along with unmatched 24/7 live customer care for its customers and consumers.

TRAX 6 is currently in production and will be commercially available soon.

For more information please contact PassTime at 877-727-7846 or info@passtimegps.com.

DIMONT Announces New Client Auto Trakk to its Growing List of Customers

Pennsylvania-based Auto Trakk selects DIMONT for insurance claims processing services

DALLAS, April 2, 2018 – DIMONT, the largest provider of insurance claims recovery and collateral loss mitigation services for more than 22 years, has announced a partnership with Pennsylvania-based Auto Trakk, a leading automotive leasing company specializing in leasing vehicles to individuals with moderate to severe credit issues. Auto Trakk currently supports a network of authorized dealers in Delaware, Florida, Indiana, Kentucky, Maryland, Michigan, New York, North Carolina, Ohio, Pennsylvania, South Carolina, and Virginia.

DIMONT will apply its expertise in claims adjustment to assist Auto Trakk in recovering significant proceeds on damaged repossessed vehicles.

“Auto Trakk is pleased to partner with DIMONT, a leading provider of technology-enabled collateral loss mitigation solutions for automotive lenders and lessors,” said Auto Trakk CEO Merril Davis. “DIMONT’s flexible, professional team of licensed public adjusters will assist Auto Trakk in realizing cost savings quickly and efficiently.”

“We look forward to working with Auto Trakk to maximize recoveries and reduce costs,” said Denis Brosnan, president and CEO, DIMONT. “Auto Trakk is a welcome addition to DIMONT’s growing list of auto clientele.”

J.D. Byrider Applies Equifax Ignite, Increases Auto Buyer Approvals by 10 Percent 

Solution helped the sub-prime dealer score 100 percent of their prospective customers

ATLANTA, March 20, 2018 – When J.D. Byrider, a  leading used car sales and finance enterprise, expanded geographically and organically, they began an engagement with Equifax Inc. (NYSE:  EFX), a global information solutions company, to better identify risk and streamline deal structures. J.D. Byrider used Equifax Ignite to develop a configurable origination risk model that uses traditional credit data, augmented with alternative data sources such as telecom and utility information, to create a more robust profile on buyers.

Ignite allows for a more accurate and wider-ranging risk assessment on buyers with varied profiles as well, which helps to reduce write offs and improve efficiencies. J.D. Byrider’s results with the solution included a 100 percent scoring of their applicant population, including those with no credit file or a thin credit file – reducing the number of applicants evaluated only by outdated credit models. Additionally, once lower risk applications were powered by more than a credit-only scoring model, J.D. Byrider was able to increase approvals by 10 percent with the same loss rate.
“My main priority was to enable the strongest and most innovative capabilities to mitigate risk and increase financial inclusivity for our buyers who happen to be sub-prime or deep sub-prime borrowers,” said Gary Harman, chief risk officer, J.D. Byrider. “Equifax Ignite has helped us better understand our customers and get more of them into the cars they need so they can proceed with their lives.”

Equifax Ignite helps businesses enhance customer acquisition, risk segmentation and decisioning, and improve customer relationships. The solution securely and comprehensively supports the full analytical lifecycle – from data access and transparency to visualization and deployment – using a single, connected suite of advanced analytical processes, technology and tools.

“Consumers are not one dimensional, and neither are their credit profiles,” said Peter Oburu, vice president, Automotive Analytics, Equifax. “J.D. Byrider understands this and they have taken steps to ensure every customer who walks through their doors is looked at holistically and not just from one data set, but multiple datasets that can help them in their car buying journey and help all dealers and lenders make better business decisions and with fewer risks.”

Black Book Valuations Chosen for Roush Performance Products

Accurate valuations help ROUSH dealers secure financing deals and offer fair values for resale
LAWRENCEVILLE, GA (March 26, 2018) – Black Book, a division of Hearst Business Media that provides industry-leading used vehicle valuation and residual value forecast solutions, has announced it has signed an agreement to provide vehicle valuation data for ROUSH Performance Products, a company offering an extensive line of aftermarket performance parts, vehicles and crate engines.

ROUSH Performance blends Jack Roush’s legendary racing successes with the formidable OEM engineering and manufacturing skills of ROUSH Industries and its over 4000 employees. ROUSH Performance is the first specialty-vehicle company to combine race-proven technologies with advanced automotive engineering.

ROUSH dealers can now leverage Black Book’s legacy of accurate vehicle valuations, available on the Black Book Digital mobile application or online. With Black Book’s valuations, ROUSH dealers can instill trust in their customers that their transaction comes with an accurate, fair value. Dealers can also fully finance the purchase of a new ROUSH vehicle, offering credible value to lenders and making it easier for buyers to gain financing. Lastly, Black Book enhances satisfaction levels for ROUSH vehicle owners helping them achieve fair value for their vehicles when they’re ready for resale.

“We’ve always taken pride in the supreme quality of vehicles our dealers offer their customers, and with Black Book we take extreme pride in the quality of our deals,” said Jack Roush Jr., Advanced Business Strategy at ROUSH. “Our customers want to know they’re getting the best vehicle on the road today, and they also want to know it comes with the most accurate valuation in the industry.”

“We’re excited to offer our trusted vehicle valuation data and services to an industry icon in ROUSH, known for high performance vehicles,” said Jared Kalfus, executive vice president, Revenue, for Black Book. “The ROUSH name is synonymous with trust and quality, and we’re proud to know that Black Book’s values will help enhance their customer relationships even further, solidifying that trust between the dealer and customer.”

Kevyn Rails joins Innovate Auto Finance as Vice President of Portfolio Acquisitions

Rails brings 24 years of auto finance experience and will oversee the company’s acquisitions activities coast to coast

FORT WORTH, Texas – April 5, 2018 – Innovate Auto Finance, a purchaser and servicer of automobile loan portfolios and provider of line-of-credit financing, has hired Kevyn Rails as vice president of Portfolio Acquisitions. In this role, Rails will source profitable sub-prime auto loan portfolios for Innovate’s own book of business, as well as for the multinational asset management firm that retained Innovate earlier this year to source and service up to $50 million of portfolios for their company.

“We are excited to welcome Kevyn to our growing organization. He brings more than two decades of diverse experience in auto finance, including roles in both sales and credit,” said Scott France, chief operations officer for Innovate Auto Finance. “Kevyn’s unique lending background will serve him well as he assesses auto loan portfolios across the country.”
Rails added, “I am thrilled to join Innovate Auto Finance, a company that is truly on the forefront of change in this industry. It’s not every day you come across an organization that isn’t afraid to try something new. Innovate definitely lives up to its name, and that pioneering spirit is one of the many reasons I chose to come on board.”

In his new position, Rails will oversee both the portfolio acquisitions and funding teams. Rails will join other Innovate executives at several upcoming conferences, including LendIt

Fintech USA 2018, April 9-11, and AFSA Independents Conference & Expo, April 24-26. To set up a meeting with an Innovate executive at one of these events, email businquiries@innovateauto.com.

Two Hudson Cook Attorneys to Speak at Broker Fair 2018

Catherine Brennan and Katherine Fisher of Hudson Cook will speak at Broker Fair 2018, presented by deBanked. This inaugural conference, on May 14, 2018, in Brooklyn, NY, will be the largest gathering of merchant cash advance and business loan brokers in the country, with an expected audience of 350-400 attendees.

Hudson Cook is a proud sponsor of this one-day conference, which will bring together brokers, lenders, funders and service providers to present industry-focused and uniquely curated talks, to foster learning and inspiration, and provoke conversations relevant to the industry.

Both Brennan and Fisher will speak during a session entitled “Keeping It Legal,” which will focus on funder and lender legal hot topics and compliance issues.

Brennan and Fisher are partners in the firm’s Hanover, MD, office. Brennan assists national and state banks, investment banks, consumer and commercial finance companies, mortgage bankers, installment lenders, and other licensed lenders in the development and maintenance of nationwide consumer and commercial lending programs. Fisher’s practice focuses on consumer financial services and small business financing. She represents banks, finance companies, private equity and investment bank investors, merchant cash advance companies, and small business lenders that are establishing new programs and products, and conducts due diligence and compliance reviews of consumer lending and business financing portfolios.

For more information about the conference, visit www.brokerfair.org.