LOS ANGELES–(BUSINESS WIRE)–Westlake Portfolio Management (WPM) was selected by Coastal Credit, LLC to be the third-party servicer of its $103 million active portfolio.
The Coastal Credit portfolio consists of approximately 10,500 active and over 13,000 charge off accounts. WPM will handle full 3rd party servicing responsibilities on the portfolio including customer service, collections, titles management, remarketing and treasury responsibilities. WPM completed the onboarding of the portfolio ahead of schedule on April 2, 2020.
“WPM onboarded the portfolio 11 days ahead of schedule,” stated Todd Laruffa, VP of Westlake Portfolio Management. “The WPM team did an amazing job executing the transfer of the portfolio during the current pandemic situation that we are all experiencing.”
Coastal Credit customers whose loans have been transferred to WPM can manage their account and make payments online at myaccount.wpmservicing.com. Customers can also call 877.733.5190 or email email@example.com with questions regarding the transfer of their loan.
“WPM is looking forward to providing Coastal Credit’s customers with the best service possible,” added Brian Renfro, SVP of Servicing. “We are prepared to assist our new customers with any questions they may have regarding the transfer of their loan.”
Westlake Portfolio Management, a subsidiary of Westlake Technology Holdings, is a third-party servicing company with the infrastructure to support medium to large scale portfolios. Finance companies, dealerships and auto lenders interested in learning more about WPM are invited to contact WPM directly at 1.877.733.5190 or online at www.wpmservicing.com.
About Westlake Technology Holdings: Westlake Technology Holdings is an auto and finance technology company headquartered in Los Angeles, CA with approximately $10.58 billion in assets under management. Westlake Financial originates indirect automotive retail installment contracts through a nationwide network of new and used automotive and powersports dealers. Westlake also offers loan portfolio purchasing, credit facilities and portfolio servicing through Westlake Portfolio Management; www.wpmservicing.com. Floor plan lines of credit are provided through their 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, and indirect automotive leasing for credit unions through Credit Union Leasing of America (CULA), is a subsidiary of Westlake, dealers leads and direct-to-consumer auto loans through Westlake Direct, and direct to consumer title loans are through Westlake’s wholly owned subsidiary Loan Center; www.loancenter.com.
David Goff, VP, Marketing