Westlake Portfolio Management (WPM), loan servicer located in Los Angeles, California, and subsidiary of Westlake Technology Holdings, is now the servicer for U.S. Auto Sales’ portfolio as of May 22, 2023. U.S. Auto Sales’ portfolio has a principal balance of $741,473,258. This also includes servicing three securitizations with a balance of approximately $391 million.
WPM was named Servicer after the 39 U.S. Auto Sales dealer locations closed down in April. All loan servicing that was previously managed by U.S. Auto Sales is now managed by WPM including repossessions, remarketing, payment collection, and more. Additionally, WPM is also servicing charge-offs of over $195 million in previous charged-off loans.
“We are committed to making this transition as seamless as possible for all customers of U.S. Auto Sales,” says Todd Laruffa, Vice President of Westlake Portfolio Management. “Our team is fully equipped and specialized in managing this type of portfolio with minimum disruption to all parties. WPM executed this servicing transfer one week sooner than originally anticipated.”
Customers should receive both letters & emails announcing the servicing transition to WPM. Customers can register their account on myaccount.wpmservicing.com. With MyAccount, customers can make payments, set up their ACH information, view their statements, or chat with an agent. Customers can also call 1.877.854.1898 to speak to a live WPM customer service representative.
WPM offers secondary, backup, and white-label servicing with the infrastructure to support medium to large-scale portfolios. Finance companies, dealerships, and auto loan holders interested in learning more about WPM are invited to visit www.wpmservicing.com.
About Westlake Technology Holdings: Westlake Technology Holdings is an auto and finance technology company headquartered in Los Angeles, CA with approximately $15 billion in assets under management. Westlake Financial (“Westlake”) originates indirect automotive retail installment contracts through a nationwide network of new and used automotive and power sports dealers. Westlake also offers credit facilities and commercial real estate loans through Westlake Capital Finance (WCF); portfolio servicing through Westlake Portfolio Management (WPM); floor plan lines of credit are provided through its Westlake Flooring Services division, www.WestlakeFlooringServices.com; shared cash flow auto lending through Westlake’s wholly-owned subsidiary, Western Funding Inc., a Nevada based auto lender; indirect automotive leasing for credit unions through Westlake’s subsidiary, Credit Union Leasing of America (CULA); dealer leads and direct-to-consumer auto loans are offered through Westlake Direct; consumer installment loans are offered through Westlake’s wholly owned subsidiary LoanCenter, www.loancenter.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230606005835/en/
Contacts
David Goff, VP, Marketing
dgoff@westlakefinancial.com
