Executives say the new program, which is designed for car buyers with a 750 FICO or better, is part of the finance source's push to become a one-stop shop for every dealership.
Equifax’s TradeSight allows finance sources to analyze originations, current and future dealer partners, and performance of finance contracts booked through dealer partners. The platform works by combining Equifax’s consumer credit information with dealer and vehicle data from third-party data sources.
Through a partnership with eOriginal, Westlake Financial has digitally transformed its dealership management system into an econtrating solution for its network of more than 20,000 new- and used-car dealers.
The once head of Chase Custom Finance is back. Today, Westlake Financial Services announced it has contracted Bill Jensen to focus on developing its strategic accounts division.
With the new connection, dealers signed up with the auto finance source and for RouteOne’s econtracting solution can receive electronic validation and distribution, as well as a signing process that works on signature pads, tablets and nearly any touchscreen-enabled device.
This week, Westlake Financial Service began its recruitment process as part of its plans to expand the servicing team in its Dallas production center, which opened its doors this past January.
The bureau ordered the subprime auto finance source and its subsidiary to pay a $4.25 million civil penalty for illegal debt-collection tactics and $44.1 million in consumer redress.
Westlake Financial Services was recognized by Equifax as the national auto lender whose subprime customers have seen the highest credit score increase over the term of their loan.
ACI Up Bill Payment Solutions will allow Westlake customers to pay their loans with a debit card or ACH, which can accept payments online, through a mobile device, or via phone or text.
Westlake Financial Services closed its fifth term asset-backed securitization in late May, with officials saying the company expects to ramp up its issuances as it continues to make inroads in the franchise dealer market.
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