The collection of nonperforming accounts has taken on more importance as the economy turns. These collection efforts, however, are regulated by a patchwork of federal and state laws that can be difficult to follow. Unpaid accounts are a drag on earnings and a drain on personnel. Building a compliant collection process is costly and time-consuming and may be a distraction from the front-end loan generation machine. Selling these accounts may be a way to accelerate cash flow and decrease risk.
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Lenders with a heavy auto loan portfolio, particularly in the non-prime sector, might look toward selling riskier loans to avoid defaults or selling non-performing loans to ease servicing requirements and accelerate cash flow.
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The handful of banks that make up what can be known as "mega banks" lost more than 100 of their top employees over the last couple of years.
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