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Westlake Portfolio Management to Service Its Largest Portfolio

October 11, 2019

LOS ANGELES--(BUSINESS WIRE)--Oct 11, 2019--

Westlake Portfolio Management (WPM) was selected as third-party servicer of Security National Automotive Acceptance Company’s (SNAAC) $221 million automotive portfolio.

SNAAC, an auto lender specializing in loans to servicemembers, is the largest portfolio WPM has acquired for servicing thus far, at 16,800 active loans. WPM will handle the servicing of the portfolio including customer service, collections, titles management and remarketing.

“SNAAC’s $221 million portfolio is the largest contract WPM has been awarded,” commented Todd Laruffa, VP of Westlake Portfolio Management. “WPM’s experience as an auto finance servicing company makes us the ideal fit for SNAAC.”

“WPM has tremendous respect for military personnel and the service they provide,” Brian Renfro, SVP of Servicing, added. “We are ready to provide assistance on their auto loans and invite our new customers to contact us if they have any questions.”

SNAAC customers whose loans have been transferred to WPM can visit www.wpmservicing.com to make payments or manage their account online. Customers can also call 877-854-5688 or email wpmcustomercare@wpmservicing.com with questions regarding the transfer of their loan.

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 $9.8 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), is 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.

www.WestlakeFinancial.com

View source version on businesswire.com:https://www.businesswire.com/news/home/20191011005345/en/

CONTACT: David Goff, VP, Marketing

Email:dgoff@WestlakeFinancial.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY RETAIL AUTOMOTIVE FINANCE BANKING PROFESSIONAL SERVICES OTHER RETAIL NETWORKS OTHER AUTOMOTIVE DATA MANAGEMENT

SOURCE: Westlake Portfolio Management

Copyright Business Wire 2019.

PUB: 10/11/2019 10:23 AM/DISC: 10/11/2019 10:23 AM

http://www.businesswire.com/news/home/20191011005345/en