Westlake and Primeritus Announce Partnership
LOS ANGELES -- (BUSINESS WIRE) -- Westlake Financial Services, a full spectrum auto finance company, and Primeritus Financial Services announced their collaborative partnership today. Primeritus provides recovery management and skip tracing services to the automotive industry. Primeritus will assist Westlake with skip-to-locate services for Westlake’s post charge-off collateral accounts.
“Primeritus has a solid reputation in the industry by helping companies improve their collection services,” says Ian Anderson, President of Westlake Financial Services. “Westlake is proud to bring on a partner that will help us improve our portfolio by lowering losses and increasing our recovery.”
“Westlake and Primeritus share a common vision; to deliver best-in-class service, technology and results for our clients,” says Joe Mappes, Executive Vice President of Primeritus Financial Services. “By utilizing Primeritus SkipMasters, Westlake Financial will reduce their charge-off ratio, increase overall compliance measurements and mitigate losses across their entire portfolio. We are proud Westlake Financial has named Primeritus as their ‘go-to’ partner in this facet of their collections cycle.”
About Primeritus Financial Services: Primeritus Financial Services is a national provider of repossession management, remarketing, title services and skip tracing services to the auto finance industry in the U.S. and Puerto Rico. Primeritus was created to lead the industry into a new era of repossession servicing. Primeritus has partnered with a robust network of professional recovery agents to add value for clients who are seeking to outsource the non-core business functions of their collateral recovery processes, or to supplement their existing recovery efforts. For more information on Primeritus Financial Services, please visit www.primeritus.com.
About Westlake Financial Services: Westlake Financial Services is an internet based, privately held finance company that specializes in the acquisition and servicing of sub-prime to prime automotive retail installment contracts. Headquartered in Southern California, Westlake originates indirect retail installment contracts through a network of over 15,000 new and used car dealers throughout the United States. Westlake also offers portfolio purchasing through their ALPS division (Advanced Lending & Portfolio Services). Direct to consumer title loans and unsecured loans are done through Westlake’s wholly owned subsidiary, Wilshire Consumer Credit. Westlake dealers can also apply for flooring credit through Westlake Flooring Services. All collections and servicing are performed in-house from its central facility located in the Mid-Wilshire area of Los Angeles.