westlake financial | Auto Finance News | Auto Finance News

Fraud Origination Risk to Hit $7B by Year-end

The risk of fraud for auto lenders has increased 5% year over year, according to new data shared with Auto Finance News by PointPredictive’s chief fraud strategist Frank McKenna. By year-end 2019, fraud origination risk is expected to reach $7 billion. Fraud in the auto lending industry is evident. In fact, discussions between lenders at […]
  • Nicole Casperson
  • June 13, 2019
  • Risk

Pass-Through Applications Trigger Volume Surge at Westlake Financial

Application volume at Westlake Financial Services shot up 50% in March — to 690,000 applications — thanks to pass-through agreements that have “ramped up” in the past 18 months, said Senior Vice President of Sales and Marketing Mark Vazquez. Westlake inked its third pass-through arrangement, with a subprime lender, last month. For the quarter, Westlake […]

Westlake Financial Aims for Another Year of Growth in 2019

Westlake Financial is shooting for 20% growth in 2019 on the heels of expansion of its direct lending platform and several other units, the lender announced last week. Westlake's portfolio shot up 35% last year, to a record $8.33 billion, with 40.5% of originations in the prime and near-prime credit tiers. Westlake Financial attributed some […]

Franchise Dealer Originations Inch Higher in Westlake’s Latest Securitization

The ratio of franchise dealer originations in Westlake Financial Services's securitizations is on an upward trajectory, according to a recent DBRS presale report.  In Westlake's most recent securitization, an $800 million transaction slated to close Feb. 20, franchise dealer originations account for 38% of the pool. By comparison, franchise originations hovered at 30% in the […]