Ann NaimanYour credit union has been selected for free enrollment in DDI’s Total-Loss Payoff™️ tool – with no signup costs and no transaction fees!
So, why should your credit union be interested in our solution?
Vehicle loans often make up the majority of total loss claims. Over half of those loans have negative equity and require a letter of guarantee prior to settlement. In order for the credit union to be paid once a vehicle is totaled, insurance companies and lenders have to exchange phone calls, faxes and emails. It’s a tedious process for everyone involved. Using our Total-Loss Payoff solution, on average, it takes under 2 days to receive a letter of guarantee versus the industry standard of 10 plus days.
Through our relationship with IAA, we are hands down the industry leader in total-loss transactions. Our solution currently has more than 1,500 active lenders and includes 32 active tier 1 and tier 2 insurance providers. In 2020, we completed more than 48,000 transactions and we have paid off over $500MM in liens.
What can our Total-Loss Payoff tool do for your credit union?
• Eliminate the hassles associated with total-loss transactions.
• Saves days, sometimes weeks, of manual interaction time.
• Expedite the process for quicker settlements and payment receipt.
• Easy communication directly with the insurance carrier to guarantee resolution.
• One centralized, web-based application for easy access and tracking of the entire payoff process.
• Works with both paper titles and ELTs.
• Transfers via ACH and auto-generated letters of guarantee.
• Full access to DDI’s responsive and knowledgeable customer support team.
• Can lead to greater client retention with a smoother total loss process.
Please contact your LEVERAGE BDC for additional details:
Karen Frazee karen.frazee@myleverage.com 850.545.4825
Steve Pullara steven.pullara@myleverage.com 813.404.6877
Donnette Logan Donnette.Logan@myleverage.com 205.294.4227
Taylor Sheffield taylor.sheffield@myleverage.com 205.457.4261
