Westlake Portfolio Management serving Coastal Credit’s portfolio

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LOS ANGELES – (BUSINESS WIRE) – Westlake Portfolio Management (WPM) has been selected by Coastal Credit, LLC to be the third party provider of its $ 103 million active portfolio.

Coastal Credit’s portfolio consists of approximately 10,500 active accounts and over 13,000 debit accounts. WPM will assume all third-party service responsibilities on the portfolio, including customer service, collections, securities management, remarketing and treasury responsibilities. WPM completed the portfolio integration earlier than expected on April 2, 2020.

“WPM entered the portfolio 11 days ahead of schedule,” said Todd Laruffa, vice president of Westlake Portfolio Management. “The WPM team did an incredible job executing the portfolio transfer during the current pandemic situation we are all experiencing.”

Coastal Credit clients 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 protected] with questions regarding their loan transfer.

“WPM looks forward to providing Coastal Credit clients with the best possible service,” added Brian Renfro, senior vice president of maintenance. “We are ready to help our new clients with any questions they may have regarding their loan transfer. ”

Westlake Portfolio Management, a subsidiary of Westlake Technology Holdings, is a third-party services company with the infrastructure to support medium to large-scale portfolios. Auto finance companies, dealers and lenders interested in learning more about WPM are encouraged to contact WPM directly at 1.877.733.5190 or online at www.wpmservicing.com.

About Westlake Technology Holdings: Westlake Technology Holdings is an automotive and financial technology company headquartered in Los Angeles, California with approximately $ 10.58 billion in assets under management. Westlake Financial is the originator of indirect auto retail payment contracts through a nationwide network of new and used auto and powersports dealerships. Westlake also offers the purchase of loan portfolios, credit facilities and portfolio services 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 loans through Westlake’s wholly owned subsidiary, Western Funding, Inc., a Nevada-based auto lender, and indirect auto leasing for credit unions through Credit Union Leasing of America (CULA), is a subsidiary of Westlake, dealers direct and direct auto loans to consumers through Westlake Direct and direct loans to consumers through Westlake’s wholly owned subsidiary, Loan Center; www.loancenter.com.

www.WestlakeFinancial.com

David Goff, Vice-President, Marketing

[email protected]

Source: Westlake Portfolio Management

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