Servicers of auto finance portfolios are frequently required to notify customers who are in some stage of delinquency, default or repossession.
With WALZ as your partner, helping you manage your most important communications, you can be sure that your borrower notices are meeting regulatory requirements such as those imposed by the state and federal government, including the Consumer Financial Protection Bureau [CFPB].
Across the nation, states have tightened their consumer-lending rules in response to the new landscape ushered in with the CFPB. “Business as usual” may now land you on the wrong side of the regulators. To protect yourself, let us handle the hard work of minimizing your legal exposure and keeping you compliant with applicable state and federal regulations, while saving you money on every mailroom transaction.
In the 10-plus years we’ve been sending out vehicle default notices, across millions of transactions, not one has been contested in court. The risks are undeniable: In California and Maryland, for example, banks and finance companies have recently been sued after mailing improper notices.
Today regulations require much more than just throwing something in the mail. Far from the ordinary vendor, WALZ provides you a compliance-centric approach and, as your partner, is invested in your success and protection.
It's what we do for you.
Through our technology and compliance services, we help you reach delinquent borrowers by processing your critical documents while giving you control over how you track and manage them, after they're mailed.
We fulfill millions of notices a month from our twin facilities in Phoenix and Southern California, providing you with our proprietary tracking and returns management tools to help ease the workload.
Among the documents we commonly help consumer loan servicers process are the Right-to-Cure [RTC], Notice of Intent to Sell [NOI], Statement of Sale [SOS] Deficiency Notice and Adverse Action Notice. We format and transmit your notices precisely and according to the regulations established by the federal and state government.
Throughout our fulfillment facilities, we guarantee the highest level of quality control and client care.
WALZ consistently achieves near-perfect auditable SLA compliance on over 20 million pieces of critical mail annually.
As a consumer loan servicer, the ability to prove that a borrower has been properly notified during the delinquency, repossession and sale processes is pivotal to effecting a favorable result. We give you the tools that provide you the proof you need.
With TrackRight, our secure web portal, all departments needing access are able to utilize images and data pertaining to letter contents, proof of USPS® mail entry and all intermediary transit events including final delivery and return resolution.
We maintain SSAE16 SOC-1 and SOC-3 annual certifications and adheres to Sarbanes-Oxley standards. We employ additional third-party verification through Verizon's CyberTrust Security Management Program, which performs quarterly inspection of all network components, external and internal applications, system vulnerability checks, e-mail penetration, war dialing, and wireless network integrity.