According to a news release distributed on Tuesday, Westlake Portfolio Management (WPM) has been selected as the third-party servicer by Total Finance for its $100 million automotive portfolio.
The company highlighted approximately 84% of the $100 million portfolio at the time of acquisition came from active, non-delinquent accounts. WPM is handling full-operational support on the portfolio, including customer service, collections, titles management, repossessions and remarketing.
“Westlake Portfolio Management’s track record in servicing automotive loan portfolios was exactly what we were looking for,” Total Finance said. “With their experience, technology and operational support, they will be able to successfully handle all necessary operational tasks for our customers.”
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.
Todd Laruffa, vice president of Westlake Portfolio Management, recapped the experience the company had with Total Finance.
“We boarded the portfolio within 30 days of being awarded the account. This quick transition is essential to the successful performance and quality customer service to Total Finance customers,” Laruffa said.
Westlake vice president of marketing David Goff added, “Our experience in servicing is essential towards providing servicing solutions for our partners in the automotive industry. We provide superior servicing by using our latest technology to handle all servicing operations.”
Finance companies, dealerships and auto loan holders interested in learning more about WPM can the division directly at (877) 854-5688 or by going online to .