Westlake Portfolio Management to Service its Largest Portfolio
FOR IMMEDIATE RELEASE (October 11, 2019): Los Angeles, CA
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 [email protected] 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 (“Westlake”) 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 its ALPS division (Advanced Lending & Portfolio Services), www.WestlakeALPS.com; 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 title loans are offered through Westlake’s wholly owned subsidiary Loan Center, www.loancenter.com; and commercial real estate lending is offered through Westlake Capital Finance.