PLANO, Texas — Exeter Finance Corp.’s Dealer portal is a “big initiative that will be released in phases,” chief executive Jason Grubb told AFN last month.
The first phase of Exeter’s dealer portal will be available within 60 days, Grubb followed up in early June. Phase two will be unveiled by yearend, he added.
“Everything [dealers are] asking us to do for them slows the lending process,” Grubb said. “Instead of us having to manually help them, we can provide a self-service application that cuts us out of the work.”
Every dealer deserves the right to a representative before contributing to a loan issuance, he added, but if any significant queries could be automated without creating a negative experience for all parties involved, then it’s worth a shot.
This development comes on the heels of multiple upgrades from the subprime lender, including the firm’s future testing of Shaw System Associate’s latest servicing system — a proprietary software Exeter has used in the past — which will take place in the third quarter. The upgraded system will help Exeter reach its goal of obtaining a larger marketshare by “streamlining control and compliance within the loan servicing system,” Grubb said.
Exeter Finance previously implemented its new origination platform in January 2015, enacting a small evolutionary step by shortening the time between loan query and the origination process.
