ThunderRoad Financial completed its fourth whole loan sale to date, this time of 5,000 accounts, Powersports Finance has learned.
This is the powersports lender’s second-largest transaction to date, at $55 million, after its $60 million asset-backed securitization in April 2016, President and Chief Executive Donal Hummer Jr. said.
The backer of the purchase is a California-based alternative investment manager that’s valued at $13 billion and focuses special situation investing.
ThunderRoad Financial has strategically delayed the issuance of its second securitization, which was initially planned for the first half of this year. Instead, the lender is focusing on other avenues of capital growth, such as whole loan sales, which is a market that is heating up and is “less fickle” than securitizations, Hummer told Powersports Finance in August.
