Sub Prime Lender Finds Liquidity
This month Navigator Acceptance completed two sale transactions, of consumer loans, in a market where getting a deal done is at best challenging. According to Navigator’s President Bobby Lazenby, Navigator will, from time to time, continue to pursue select sales of their high quality independent automobile installment contracts. Navigator’s loans are originated directly from the group’s (Navigator Dealer Group) eight dealerships located throughout the states of Georgia and Indiana. Navigator Dealer Group continues to be a dominant player with annual sales expected to hit $70mm for 2009. According to Lazenby “Navigator Acceptance owns and services in excess of $70mm in automobile backed installment contracts”.
Atlanta Georgia –
Or dealers can carry their own paper until it’s adequately seasoned for resale. They can make a local call based on their own underwriting standards. ZimpleMoney provides the low cost loan administration tools for dealers to manage their own portfolio. This methodology nets the dealer a sale, increased cash flow, and smaller discounts when they sell the portfolio. Sounds like a win-win to me!
Thanks John, we are peddling performing loans at present. Small loan pools from $1mm to $3mm.
BL