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Westlake Financial’s ABS volume to top $3b by yearend 

MIAMI — Westlake Financial Services is on track to issue $3.4 billion in asset-backed securitizations by the end of the fourth quarter, a 13.3% increase year over year, company Treasury Director Franka Bicolli told Auto Finance News.  “Usually we issue the third securitization in August,” Bicolli said. “This year we have increases with different warehouse […]

Westlake taps CarFinance to grow refi business

Westlake Financial Services has inked a deal to start purchasing auto refinance loans originated through CarFinance, the companies announced this week. The goal of the partnership is to “complement” Westlake’s direct lending platform, LoanCenter, with auto loan refinancing, Ralph Ontiveros, vice president of Westlake services and lending solutions, said in a press release. The Los Angeles-based […]

Westlake Financial enters Canadian market

Westlake Financial Services will start originating loans in Canada in the first quarter of 2020 via a newly inked deal with Axis Auto Finance, Ian Anderson, group president of Westlake, told Auto Finance News. Axis will originate and service the loans for a fee, and Westlake will retain the loans on its balance sheet, Anderson […]

Westlake eyes third ABS following $1.2B issuance

On the heels of closing a $1.2 billion asset-backed securitization — its largest-ever — Westlake Financial Services is already planning for another “large” ABS before yearend, Chief Financial Officer Paul Kerwin said in a statement on Thursday. The Los Angeles-based company’s securitization, backed by subprime auto receivables, also marked Westlake’s fifth straight issuance topping $1 […]

Westlake zeroes in on under-used tech

With autonomous vehicles, machine learning, and Tesla CEO Elon Musk attempting to merge people’s brains with AI (yes, that is a real thing), some lenders are still struggling to get dealers on board with basic tech tools. For Westlake Financial Services’s Mark Vazquez, senior vice president of marketing, the most under-utilized tool in auto finance […]

CPS, GMF, Huntington and Westlake execs join Auto Finance Summit speaker faculty

Senior executives from four of the nation’s largest financiers will participate in an executive dialogue to track the trajectory of the industry and strategies for overcoming looming challenges. The panel will feature Consumer Portfolio Services President and Chief Executive Charles Bradley, GM Financial Chief Operating Officer Kyle Birch, President of Huntington Auto Finance Rich Porrello, […]
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