Westlake Portfolio Management Selected as Third-Party Servicer by Total Finance
LOS ANGELES--(BUSINESS WIRE)--May 21, 2019--
Westlake Portfolio Management (WPM) has been selected as third-party servicer by Total Finance on its $100 million automotive portfolio.
“Westlake Portfolio Management’s track record in servicing automotive loan portfolios was exactly what we were looking for,” stated a Total Finance official. “With their experience, technology, and operational support, they will be able to successfully handle all necessary operational tasks for our customers.”
Approximately 84% of the $100 million portfolio at the time of acquisition came from active, non-delinquent accounts. WPM is handling full operational support on the portfolio: customer service, collections, titles management, repossessions, and remarketing.
Todd Laruffa, VP of Westlake Portfolio Management, commented, “We boarded the portfolio within 30 days of being awarded the account. This quick transition is essential to the successful performance and quality customer service to Total Finance customers.”
“Our experience in servicing is essential towards providing servicing solutions for our partners in the automotive industry,” stated David Goff, VP of Marketing. “We provide superior servicing by using our latest technology to handle all servicing operations.”
Westlake Portfolio Management, a subsidiary of Westlake Technology Holdings, is a third-party servicing company with the infrastructure to support medium to large scale portfolios. Finance companies, dealerships and auto loan holders interested in learning more about WPM are invited to contact WPM directly at 1.877.854.5688 or online at www.wpmservicing.com.
About Westlake Technology Holdings: Westlake Technology Holdings is an auto and finance technology company headquartered in Los Angeles, CA with approximately $8.33 billion in assets under management. Westlake Financial Services originates indirect automotive retail installment contracts through a nationwide network of new and used automotive and powersports dealers. Westlake also offers loan portfolio purchasing, credit facilities and portfolio servicing through their ALPS division (Advanced Lending & Portfolio Services); www.WestlakeALPS.com. Westlake Portfolio Management provides servicing solutions to 3 rd parties; www.wpmservicing.com. Floor plan lines of credit are provided through their Westlake Flooring Services division; www.WestlakeFlooringServices.com, shared cash flow auto lending through Westlake’s wholly owned subsidiary, Western Funding, Inc. a Nevada Based auto lender, and indirect automotive leasing for credit unions through Credit Union Leasing of America (CULA), a subsidiary of Westlake, dealers leads and direct-to-consumer auto loans through Westlake Direct, and direct to consumer title loans are through Westlake’s wholly owned subsidiary Loan Center; www.loancenter.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190521005956/en/
CONTACT: David Goff, VP, Marketing
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT NETWORKS AUTOMOTIVE PROFESSIONAL SERVICES BANKING FINANCE OTHER AUTOMOTIVE RETAIL OTHER RETAIL
SOURCE: Westlake Portfolio Management
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PUB: 05/21/2019 04:49 PM/DISC: 05/21/2019 04:49 PM