Westlake Portfolio Management Selected to Service Car Capital’s $105 Million Active Portfolio
LOS ANGELES--(BUSINESS WIRE)--Jan 9, 2023--
Westlake Portfolio Management (“WPM”), a 3 rd party loan servicing company located in Los Angeles, California, has been selected by Car Capital, an auto loan company and a subsidiary of Car Capital Technologies based in Grapevine, Texas, as its primary servicer for Car Capital’s $105 million active portfolio.
“Through this partnership, we will be able to capitalize on Westlake’s scale, expertise, and efficiencies to help improve our loan performance, while still providing great customer service to all of our customers,” says Justin L. Tisler, Co-founder and CEO of Car Capital.
This partnership provides Car Capital with the opportunity to utilize Westlake’s technology, thus rendering its underwriting and operations more effective. Westlake Portfolio Management will assume all servicing related duties on both active and inactive loans, which includes treasury services, custodial duties, title management, repossession, recovery, and remarketing.
“We look forward to offering Westlake’s technology and industry experience to lower costs and optimize productivity for Car Capital,” says Todd Laruffa, Vice President of Westlake Portfolio Management. “We are confident that this alliance will be beneficial to WPM, Car Capital and their customers.”
Westlake Portfolio Management is a loan servicing company with the infrastructure to provide 3 rd party primary and backup servicing to medium- and large-scale portfolios. Finance companies, credit unions, dealerships, and auto loan holders interested in learning more about WPM are invited to contact WPM directly at 1.877.854.5688 or visit online at https://www.wpmservicing.com.
About Westlake Technology Holdings: Westlake Technology Holdings is an auto and finance technology company headquartered in Los Angeles, CA with approximately $15 billion in assets under management. Westlake Financial (“Westlake”) originates indirect automotive retail installment contracts through a nationwide network of new and used automotive and power sports dealers. Westlake also offers credit facilities and commercial real estate loans through Westlake Capital Finance (WCF); portfolio servicing through Westlake Portfolio Management (WPM); floor plan lines of credit are provided through its 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; indirect automotive leasing for credit unions through Westlake’s subsidiary, Credit Union Leasing of America (CULA); dealer leads and direct-to-consumer auto loans are offered through Westlake Direct; consumer installment loans are offered through Westlake’s wholly-owned subsidiary LoanCenter, www.loancenter.com; and commercial real estate lending is offered through Westlake Capital Finance.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230106005436/en/
CONTACT: David Goff
VP of Marketing, Westlake Financial
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES AUTOMOTIVE AUTOMOTIVE MANUFACTURING GENERAL AUTOMOTIVE MANUFACTURING FINANCE ASSET MANAGEMENT
SOURCE: Westlake Portfolio Management
Copyright Business Wire 2023.
PUB: 01/09/2023 05:48 PM/DISC: 01/09/2023 05:47 PM