First Associates to Provide Servicing for Nonprime Lender Crediauto

First Associates Loan Servicing LLC, a San Diego, Calif.-based third-party loan and lease servicer, has partnered with Crediauto USA Financial LLC, Larry Chiavaro, First Associate’s executive vice president Larry Chiavaro said last week.

Creditauto, also based in San Diego, provides auto loans to individuals with “limited or non-existent credit history and those with less-than-perfect credit,” according to a press release. The indirect auto lender, founded in 2012, recently completed a capital facility which provides for up to $75 million to facilitate the acquisition of nonprime automobile financing contracts.

Through the new partnership, First Associates will be handling loan servicing, contract validation, verification calls, and title management for Crediauto, Chiavaro told AFN. The company also provides servicing for both auto leases and powersport vehicle financing, but this partnership covers servicing for auto loans specifically, he clarified.