Westlake Financial Services is expanding its servicing team in Dallas, part of a plan potentially to double in size, the company said yesterday.
As it expands in the center of the country, the Los Angeles-based, primarily subprime lender said it plans to hire 85 employees by mid-2016 for its Dallas Production Center, which opened in January.
“The Dallas location will employ experienced service personnel who will work in conjunction with the servicing team at our U.S. headquarters in Southern California,” said Amit Shah, senior vice president of servicing, in a Westlake press release. “Through our ongoing effort to provide the highest quality of service to our customers, we are expanding our team in Dallas to support sustainable growth and potentially double the size of our portfolio.”
Recruitment and training of new hires was scheduled to begin at the end of September, and employees were expected to begin servicing accounts by mid-October, according to the release. Westlake also expected to begin the hiring process for experienced collectors as of the end of September.
“Our continued success is due to our employees,” said Ian Anderson, group president of Westlake Financial Holdings. “The strong performers we’re going to hire in Dallas will support an important component of our next phase of growth, which is building the Westlake presence in the central U.S.” he said in a written statement.
Anderson also said the company would like to pursue more third-party servicing business, after acquiring a $178 million portion of Condor Capital’s portfolio. Westlake, along with Fortress Credit Corp., and Ares Management LLC, purchased the portfolio after Condor was shut down by the New York Department of Financial Services in December 2014.
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