Post Tagged with: "Westlake Financial Services"

Westlake Expands E-Contracting Nationwide, Expects High Usage

Westlake Expands E-Contracting Nationwide, Expects High Usage

October 4, 2017 at 11:47 am 0 comments

Westlake Financial Services expanded its e-contracting solution to all 50 states this week and expects the digital process will come to make up a significant portion of its originations as more dealers sign on, the company said in a press release Tuesday. “E-contracted deals now make up about 20% ofRead More

AutoGravity is partnered with Daimler and Mercedes-Benz Financial Services to bring online car shopping to the phone. (Photo by William Hoffman)

AutoGravity Adds Real-Time Inventory Amid Financing Milestone

September 27, 2017 at 11:30 am 0 comments

On the heels of reaching a milestone $1 billion of requested financing on AutoGravity, the startup is introducing real-time inventory on new and used cars for partnered dealership groups, the company announced in a press release this morning.   Prior to the integration, consumers were only able to browse throughRead More

Westlake Finalizes 2 Partnerships to Mitigate Risk

Westlake Finalizes 2 Partnerships to Mitigate Risk

August 30, 2017 at 12:22 pm 1 comment

Westlake Financial Services announced two new partnerships in the past week that it claims will eliminate some risk in lending practices and help evaluate applicants with Fico credit scores below 600. On Tuesday, the company announced an expansion of its cooperation with the credit reporting agency Clarity Services to addRead More

Westlake Serves Up Largest-Ever Securitization

Westlake Serves Up Largest-Ever Securitization

August 23, 2017 at 12:33 pm 0 comments

Westlake Financial Services issued an $800 million asset-backed securitization on Monday backed by $860 million of automotive loans, marking the largest ABS in the company’s 39-year history. “This ABS trumps the most recent securitization completed back in March 2017, which was — at the time — our largest ABS everRead More

Westlake Reimburses Borrowers Charged Over 21% APR

Westlake Reimburses Borrowers Charged Over 21% APR

August 17, 2017 at 12:05 pm 1 comment

The Massachusetts Division of Banks has ordered several fines and penalties against a number of buy-here-pay-here auto lenders — including Westlake Financial Inc.’s subsidiary Western Funding Inc. — for failure to obtain proper licensing and illegal lending practices. Last week, the agency announced in a press release that Westlake enteredRead More

Westlake’s Customized Subprime Program Hooked CARite

Westlake’s Customized Subprime Program Hooked CARite

August 15, 2017 at 12:38 pm 0 comments

Westlake Financial Service’s partnership with the online and brick-and-mortar dealership group CARite began with a message on LinkedIn. “We were evaluating which lenders we do business with and where we saw some gaps in terms of who can approve what kinds of deals,” Mike Cavanaugh, chief operating officer for CARite,Read More

Westlake Emerges as Preferred Subprime Lender for CARite

Westlake Emerges as Preferred Subprime Lender for CARite

August 11, 2017 at 12:15 pm 2 comments

Westlake Financial Services is the new leading provider of subprime and near-prime retail contract loans at CARite dealerships through a strategic partnership announced in a joint press release Thursday. Westlake snagged the preferred subprime lender slot over two larger players in the space. Ally Financial Inc. and Capital One AutoRead More

Westlake Exec Returns to Manage Losses, Delinquencies

Westlake Exec Returns to Manage Losses, Delinquencies

July 27, 2017 at 11:15 am 0 comments

When Brian Renfro was brought on at Westlake Financial Services as the lender’s senior vice president of servicing, he was returning to a familiar space. He was expected to move fast and make changes to the way agents interact with delinquent account holders and to revamp the company’s dialer systems.Read More

Dealers Urge Lenders for Portfolio Data to Improve F&I

Dealers Urge Lenders for Portfolio Data to Improve F&I

July 7, 2017 at 9:00 am 0 comments

Dealers such as Adam Smith Texas Harley-Davidson are seeking monthly reports and portfolio performance data from lender partners to help improve the F&I process. “The additional training that is most helpful for us is when a lender gives us a better understanding of what types of loans they are looking forRead More

AutoGravity's Volkswagen Credit App (PRNewsfoto/AutoGravity)

VW Credit Joins AutoGravity Through Equity Investment

July 6, 2017 at 11:53 am 4 comments

VW Credit Inc. has made an equity investment into the online origination portal AutoGravity and is both joining the platform as a captive lender and utilizing the company’s technology to create its own branded online financing mobile app, according to a Wednesday press release. AutoGravity declined to disclose the sumRead More

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