Westlake Portfolio Management Services Over $300M In New Portfolios In 2020 and Plans to Expand into Different Markets in the New Year
FOR IMMEDIATE RELEASE (February 23, 2021): Los Angeles, CA – Westlake Portfolio Management, a subsidiary of Westlake Technology Holdings (Westlake), sees incredible growth in 2020, servicing over $300M in new portfolios. This success is partly attributed to the collaboration between Westlake Portfolio Management and Agora Data. Agora Data supports Buy Here, Pay Here (BHPH) auto dealers with low-interest funding through the capital markets and Westlake Portfolio Management provides backend operations such as customer service, collections, titles administration, repossessions, and remarketing. The result of this collaboration is that Westlake Portfolio Management has become the primary servicer for Agora Capital and Agora Trade.
In addition to this collaboration, Westlake Portfolio Management became the primary servicer for the first ever crowd-sourced securitization, which closed in December 2020. Vice President of Westlake Portfolio Management, Todd Laruffa states, “2020 posed many challenges to a lot of us, however, our team showed extreme perseverance and drive. I’m so proud of the Westlake Portfolio Management team and I’m looking forward to what’s to come in 2021.”
Westlake Portfolio Management has goals in the new year to expand its business to different types of markets such as small business loans, private equity, credit unions, leasing, unsecured loans, and more.
Westlake Technology Holdings has over 30 years’ experience servicing sub-prime auto loans and the lowest delinquency in sub-prime auto. We are a Partner Servicer specializing in solutions for all companies beyond auto. For additional questions, contact Todd Laruffa at [email protected].
About Westlake Technology Holdings: Westlake Technology Holdings is an auto and finance technology company headquartered in Los Angeles, CA with approximately $14 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.