Transcript Covering your you-know-what: Legal & Operational Issues Panelists: Lynne Wicker – RTR Services Andy Alper – Frandzel, Robins, Bloom & Csato John Rosenlund, CLP --

Covering your you-know-what:
Legal & Operational Issues
Panelists:
Lynne Wicker – RTR Services
Andy Alper – Frandzel, Robins, Bloom & Csato
John Rosenlund, CLP -- PFSC
Session Topics
Transitioning from Broker to Lessor
 Why am I doing this?
 What are my risks in doing
this?
 What are the big picture items
Key Points to Consider:
 Does R&W risks outweigh rewards of
portfolio ownership?
 Are LOC costs conducive to type of
business?
 Is your infrastructure in place to meet
lender and management
requirements?
 If not, what is your strategy?

Outsource

Hire & Train
 Does your IT platform accommodate
internal and externally required data?
 Do you have Disaster Recovery Plans?
 Do you have BCP or Succession
Planning?
Legal
 CFA
 Rep’s & Warranties as a Broker vs.
Lessor
 Broker Agreements vs. Lines of
CreditSpecialty LOC
Operational
 Service Internally or Outsource?
 Hiring of Management & Staff
 Human Resources-PoliciesTraining
 Portfolio Management (billing,
collections)
 Underwriting (Policy &
Procedures, Fraud Prevention)
 Information Technology
 Adequate systems for:
Data processing
Reporting
Forecasting
Static Pool
Conclusion
1. Don’t be afraid---be Prepared
2. Have the answers before the
questions arise
3. Can you expand without
contracting?
4. Make sure you have CYA
legally, regulatory and
financially