Tag Archives: Finance

Auto Finance Market Profits from Pricing and Profitability Management Suite from Nomis Solutions

Posted on by


San Bruno, CA (PRWEB) December 2, 2008

Nomis Solutions, a leader in best-in-class Pricing and Profitability Management for financial services companies, today announced the immediate availability of its suite of solutions and services specifically tailored for auto finance companies. The Nomis Pricing and Profitability Management SuiteTM for Auto Finance capitalizes on Nomis Solutions’ domain expertise within auto finance and includes pricing, offer and portfolio optimization capabilities. Through a combination of advanced analytics, innovative technology, and tailored business practices and processes, the Suite for Auto Finance improves financial and operational performance.

A number of the world’s leading auto finance and bank executives were granted an exclusive preview of the Nomis Solutions Pricing and Profitability Management Suite at the Global Pricing Optimization Forum in New York. John William Snow, chairman of Cerberus Capital Management and former Secretary of the Treasury, delivered the keynote address and said, “Mis-pricing leads to misallocation of resources and waste in the system. In the current situation, mis-pricing has lead to cataclysmic results. But, businesses that are going to make it and break through to the other side are going to have to use analytics to really understand their customers in a way that’s beyond what they are doing today. We are doing it at Cerberus because we know it’s critical to success.”

Burdened by a combination of decreasing auto sales, declining margins, increasing losses, and a scarcity and higher cost of capital, auto finance executives need to be proactive and look for new approaches to pricing and profitability management. With the ability to quantify consumer response to pricing, executives can align pricing goals and a pricing strategy with business objectives and financial performance targets. This approach also supports an intelligent debate on the inevitable tradeoffs such as profit, volume and risk goals, tier/term mix, credit score distribution, and loan-to-value (LTV). Once performance goals are set, prices can be optimized to achieve profit, volume and credit mix targets from the portfolio level down to the micro-segment level.

Auto loans are the second largest subsector of asset-backed securities (ABS). Auto finance companies that are reliant on the ABS market are finding capital scarce and investors are demanding to know more about the underlying assets. This combination has resulted in an extremely selective secondary market that is requiring loan portfolios that are “originated-to-order” – meaning investors want transparent loan portfolios that offer only certain types of financing products to certain types of borrowers. However, most executives don’t have visibility into the makeup of the portfolio they would build based on the prices they are planning to put into the market. With Nomis Solutions Pricing and Profitability Management Suite, auto finance executives are able to forecast what they can expect to acquire as a result of a pricing action before putting prices into the market. The ability to predict the impact of price on consumer response enables them to optimize their credit and term mix within the context of their risk and ABS conduit tolerances.

The Pricing and Profitability Management Suite for Auto Finance includes:


Nomis Offer Optimizer: The Nomis Offer Optimizer is built for credit analysts that engage in deal-by-deal negotiations and want to customize offers to meet the needs of the auto finance company, the Finance & Insurance Manager, and end-consumer. This solution centralizes all the key data inputs required to make an informed decision, such as the characteristics of the borrower, vehicle and dealer, dealer history and the proposed deal terms. It also provides simulation and optimization capabilities for deal structuring and pricing so that credit analysts understand the impact of various options on key performance indicators (KPIs) such as profits and deal conversion before responding to the dealer.
Nomis Navigator: Designed specifically for senior management responsible for one product, a line of business with multiple products, or multiple lines of business, the Nomis Navigator is an executive dashboard that provides enhanced visibility into critical banking metrics for auto finance companies. This includes capturing actual and forecasted performance over time and highlighting areas of exposure in new originations by providing cautionary guidance and profit opportunities in the existing portfolio. It can be configured to meet the needs of a bank executive that is interested in better tracking KPIs such as volume, profit, credit mix, by product, geography and customer segment. In addition, alerts can be set up to quickly identify, diagnose and respond to emerging problems.
Nomis Price Optimizer: Created for executives responsible for pricing loan and deposit products who want to capitalize on strategic pricing to drive financial performance from the portfolio down to the micro-segment level. The award-winning Nomis Price Optimizer is the backbone of the Pricing and Profitability Suite and delivers a clear understanding of consumer response and how price impacts performance. By leveraging this information, pricing teams can quickly pinpoint which segments are incorrectly priced and better tailor pricing decisions to meet performance targets. Nomis Price Optimizer also helps build a more attractive portfolio mix to meet the “originations to order” requirements of the securitizations market.

“Nomis Solutions’ continued focus on the Auto Finance market in the U.S. and Canada is changing the way in which traditional and non-traditional lending institutions compete and service their customers,” said Frank Rohde, chief marketing officer at Nomis Solutions. “Auto Finance has always been astute at creating pricing models that account for the depreciation of the asset, incorporating customer response data and market and attitudinal changes. Nomis Solutions’ Pricing and Profitability Management for Auto Finance provides an integrated platform allowing executives to make decisions to better manage and optimize lending practices for profit improvements.”

Today’s announcement of Pricing and Profitability Management Suite for Auto Finance is complemented by the release of the Pricing and Profitability Management Suite for Retail Banks. Both solutions were unveiled to more than 75 bank and finance executives at the Pricing and Profitability Executive Forum in New York, and at the Pricing & Profitability Executive Summit in Europe that was co-hosted by TowerGroup and Nomis Solutions.

About Nomis Solutions

Nomis Solutions enables best-in-class Pricing and Profitability Management for financial services companies. Through a combination of advanced analytics, innovative technology, and tailored business processes, the Pricing and Profitability ManagementTM Suite delivers quick time-to-benefit, and improves financial and operational performance throughout the customer acquisition and portfolio management processes.

The Pricing and Profitability ManagementTM Suite of business solutions includes the award-winning Nomis Price OptimizerTM, the Nomis Offer OptimizerTM, the Customer Portfolio OptimizerTM, and the Nomis NavigatorTM. These solutions are designed to meet the specific requirements of auto finance, home equity lending, personal lending, mortgage, and deposits executives. Select customers include Abbey, AmeriCredit, Bank of Montreal, Chrysler Financial, HBOS plc, and Royal Bank of Canada. Headquartered in San Bruno, CA, Nomis Solutions also has offices in London, United Kingdom. Visit http://www.nomissolutions.com or contact us at 650-588-9800.

Nomis Solutions, the Nomis Price Optimizer, Nomis Offer Optimizer, the Customer Portfolio Optimizer and the Nomis Pricing and Profitability Management Suite are trademarks or registered tr

Related Securitization Press Releases

Capmark Finance Inc. Originates $2.1 Million to Refinance Griffin Auto Park in Dallas CBD

Posted on by


Dallas, TX (Vocus) December 11, 2008

Capmark Finance, Inc. has originated a $ 2,100,000 loan to refinance Griffin Auto Park for a local ownership group. The six-story, 539-space parking garage is located in the southeast section of downtown Dallas known as the Government District. The loan has a 10-year term, 20-year amortization and a fixed interest rate below 7 percent.

One of only a few private parking garages in downtown Dallas, Griffin Auto Park has the added advantage of being located within walking distance of Dallas City Hall, the Dallas Convention Center, the Earle Cabell Federal Courthouse Building and a number of other downtown office buildings.

Vice President Ashley Harkness, a mortgage banker in Capmark’s Dallas office, originated the loan, which was funded by Aviva Investors North America. The borrower was Griffin Street Auto Park, Ltd.

“Capmark Finance helped the borrower refinance a maturing securitized loan by arranging the debt through one of our correspondent life insurance companies,” said Mr. Harkness. “It is noteworthy that we were able to secure financing with a favorable interest rate for a parking garage despite one of the most difficult credit environments in recent memory,” he continued.

Photo available upon request.

About Capmark

Financial Institutions Group Global Head Ruth Porat to Keynote Wharton School Finance Conference 2009

Posted on by

Philadelphia, PA (PRWEB) November 11, 2009

Ruth Porat, Global Head, Financial Institutions Group, Morgan Stanley will join the tenth annual Wharton Finance Conference as a Keynote Speaker. The conference, organized by students of the Wharton School of the University of Pennsylvania, will be held at the Park Hyatt at Bellevue in Philadelphia on Nov. 20, 2009. Throughout the current financial crisis, Ms. Porat has been responsible for the Firm’s coverage of financial institutions and governments globally.

The Wharton Finance Conference, whose theme is “Looking Forward: Finance in a New Horizon.” will include panel discussions on such issues in Corporate Social Responsibility vs. Government Regulation, the Increased Competitiveness of Services Firms, International Opportunities, Infrastructure Finance, Financing Growth, Financial Innovation in the 21st Century: Sales & Trading Perspective, Careers in Finance: Recruiting in a Tough Economic Environment. Participants can look forward to a conglomeration of the best minds in business and meeting with intellectual and experienced experts.

Keynote speakers at the Wharton Finance Conference 2009 include:

— Ms. Ruth Porat Global Head, Financial Institutions Group, Morgan Stanley, Vice Chairman, Investment Banking Division

— Mr. Tony Ehinger, Managing Director of Credit Suisse,

Co-Head, Global Securities, Investment Banking Division

Other scheduled conference participants include:

— James R. Tanenbaum , Partner, Morrison & Foerster and Chair of the firms Global Capital Markets practice

— Andrew Ross Sorkin, Chief Mergers and Acquisitions Reporter and Columnist, The New York Times

— Rodolfo L. Molina, Managing Director, Head of Southern Latin America, UBS Investment Bank

— Rob Collins, Managing Director and Head of Infrastructure Banking for the Americas, Greenhill & Co.

— Vikram Pant, Managing Director, IDFC Project Equity

— Jonathan Turnbull, Head of Infrastructure Investment Banking, Citigroup

— Ed Rubin, Head of Cross Rate and Securitized Product Sales (Deutsche Bank)

— Devin O’Reilly, Principal, Bain Capital

The Wharton School of the University of Pennsylvania — founded in 1881 as the first collegiate business school — is recognized globally for intellectual leadership and ongoing innovation across every major discipline of business education. The most comprehensive source of business knowledge in the world, Wharton bridges research and practice through its broad engagement with the global business community. The school has more than 4,700 undergraduate, MBA, executive MBA, and doctoral students; more than 10,000 annual participants in executive education programs; and an alumni network of more than 85,000 graduates.

Further information on the conference can be found at: http://www.whartonfinanceconference.com

Members of the media are invited to attend, but pre-registration is required.

Wharton School of the University of Pennsylvania

Media inquiries:

Peter Winicov (Wharton Communications Office)

Telephone: 1-215-746-6471

or

General inquiries:

Haoying Sun (Finance Conference student team)

Telephone: 1-215-485-1831

###







Related Securitization Press Releases

G. Edward DeSeve, Special Advisor to President Obama on Economic Stimulus Package to Speak as Keynote at Wharton Finance Conference 2009

Posted on by


Philadelphia, PA (PRWEB) November 15, 2009

Mr. DeSeve currently serves as Special Advisor to President Obama for American Recovery and Reinvestment Act implementation. He reports directly to Vice President Joseph Biden as an Assistant and acts as a Senior Adviser to the Director of the Office of Management and Budget, Peter Orszag.

Mr. DeSeve has also held senior posts at all three levels of American government. At the federal level he was:

Marabella Commercial Finance, Inc. Originates Permanent Financing for a 1031 Net Leased Walgreen Pharmacy and Kohls Department Store in Second Quarter 2011

Posted on by


Carlsbad, CA (PRWEB) June 21, 2011

Marabella Commercial Finance, Inc. originates permanent financing for a 1031 Net Leased Walgreen Pharmacy and Kohls Department Store.

Marabella Commercial Finance, Inc. funded a $ 4.8 million loan for the Kohls corporate leased department store. The Buyer for this transaction was involved in a 1031 exchange transaction. The Borrower requested a long fixed rate loan term and amortization. Marabella Commercial Finance, Inc. arranged a Life Company loan with a 15 year fixed rate and 25 year amortization giving the borrower a more manageable balloon payment in the fifteenth year with excellent cash flow. The Borrower wanted a forward rate lock so Marabella Commercial Finance, Inc. structured an approximate 90 day forward rate lock and the rate was locked early in the process at 5.875%. This loan was Non-Recourse with Standard Carve-Outs. Marabella negotiated an annual non-cumulative partial prepayment of ten percent (10%) of the outstanding loan balance without a prepayment premium. This loan was applied for on around March 18, 2011 and funded on June 15, 2011.

For the Walgreen Corporate leased pharmacy Christian S. Marabella of Marabella Commercial Finance, Inc. met with the Borrower at Marabellas satellite office in Beverly Hills, California and structured a Bank Portfolio Loan which will give the Borrower a lot of flexibility in the future if they need to work with the bank for any reason versus that of a securitized loan where the loan is sold to bond investors on Wall Street. The loan amount that was required per the 1031 Exchange came to $ 5,500,000 (Upleg). The rate on this loan was a very low 5.35% and again Marabella Commercial Finance, Inc. negotiated a 90 day forward rate lock on behalf of the clients. The amortization for this loan was 30 years and the loan was due and payable in the 10th year. The Borrowers also requested a Non-Recourse loan with standard carve-outs which was structured. A highlight of this loan was the very friendly prepayment penalty of only $ 2,500 during the first nine years of loan term again giving the Borrowers a lot of flexibility if they consider refinancing or selling the property to a new purchaser in the 10 year period. This loan was applied for on around March 15, 2011 and funded on June 15, 2011.

About Marabella Commercial Finance

Marabella Commercial Finance specializes in arranging financing for 1031 Exchange Net Lease Buyers, Commercial Investment Properties and Large Anchored Centers. Past Credit Tenant Net Lease Properties that Marabella Commercial Finance has originated loans for are; Walgreens, CVS, Kohls, Safe-Way Stores, Rite Aid, Jack in the Box, 7-Eleven, Family Dollar, CSK Automotive, and Large Anchored Centers with credit tenants. MCF is a member of the Mortgage Bankers Association and most recently participated in the International Council of Shopping Center’s 2011 annual convention in Las Vegas. Christian S. Marabella who is President of Marabella Commercial Finance, Inc. is also in charge of Media Relations for the Association of Commercial Real Estate Executives Inland Empire (Ontario, California).

Contact:

Christian S. Marabella – President

Marabella Commercial Finance

We Finance America’s 1031 Exchange Net Lease Properties

(760) 479-0800

Email: nnn(at)marabellafinance(dot)com

http://www.marabellafinance.com

###







Related Securitization Press Releases

Gracie Point Secures Funding for a $24 million Premium Finance Loan

Posted on by

New York, New York (PRWEB) November 17, 2011

With almost thirty key person life insurance policies at stake, the client required $ 24 million of premium financing for their corporate owned life insurance. Tapping into their extensive capital markets network, Gracie Point identified an appropriate capital source and worked with all stakeholders to structure and close the loan.

Bob Powell, CLU, President and Chief Executive Officer of Gracie Point explains, In a premium finance deal there are many moving parts between the client, the funding source, and the carrier. The client selected Gracie Point to help them refinance this block of loans because of our ability to raise capital as well as our expertise and experience with life insurance and premium financing.

Bruce Lohman, a Senior Managing Director at Houlihan Capital, LLC, states, Houlihan Capital partnered with Gracie Point to secure the capital for this loan. We have identified substantial additional capital sources and are working with Gracie Point to fund similar transactions. Houlihan Capital is a specialty investment banking firm advising Gracie Point in obtaining capital for its premium finance business.

Gracie Point offers clients sustainable loan solutions. We believe that traditional premium finance plays a valuable role in the life insurance market, states Powell. Our integrated approach enables us to offer our producers, carriers and borrowers a single coordination source. We have the resources and expertise to manage the financing from start to finish.

About Gracie Point

Gracie Point is an independent specialty finance company focused on the fully-collateralized, traditional life insurance premium finance market with expertise in loan origination, structuring, and funding. Gracie Point utilizes a sophisticated, capital markets-driven funding technology as well as traditional bank lending platforms to generate broad and diverse capital sources so that it can offer sustainable premium finance loan products.

About Houlihan Capital

Houlihan Capital is a leading strategic financial advisory and investment banking firm with expertise in capital raising, securitizations, private placements, structured credit and other areas. Houlihan Capital has offices in Chicago, New York and Los Angeles.

To learn more, go to http://www.graciepoint.com or contact Larry Ikard at 212-487-5102. For Houlihan, go to http://www.houlihan.com or contact Bruce Lohman at 312-961-3502.

###







More Securitization Press Releases

Southside Financial Group Changes Name to SFG Finance

Posted on by


Arlington, TX (PRWEB) January 16, 2012

Southside Financial Group (http://www.sfgfinance.com), an active purchaser of auto finance receivables, today announced the company is changing its name from Southside Financial Group to its most commonly used moniker, SFG Finance, effective immediately.

Since the founding of Southside Financial Group, the majority of our customers, vendors, and employees have informally referred to us as simply SFG Finance and frankly, we like it. Therefore, we have decided to formally change our name to reflect what the public has already thoughtfully given us. Effective immediately, Southside Financial Group has changed its name to SFG Finance, said SFG Finance COO Henry Gonzalez. The ownership and management of our company remain the same as does our commitment of excellence to everyone we do business with. We would like to thank everyone for the valued services that you have provided to us over the past several years and look forward to many more to come, Gonzalez added.

SFG Finance recently launched a new nationwide program to purchase existing near prime and subprime auto loan portfolios from franchised and independent auto dealers. The program includes near prime and subprime portfolios ranging from $ 500,000 to $ 40 million, service released; all portfolios are held on the balance sheet and serviced internally. The program is highly efficient with a 7-10 day total turnaround from analysis to closing, and will target accounts with 60-90 day pay history. Since the inception of this program SFG Finance has actively purchased and closed portfolios from dealers in 30 states.

Funding is made possible by SFGs parent bank, with the added advantage of no need to securitize plus a more stable cost of funds.SFG Finance offers complete transparency and up-front pricing based its superior analytics. A due diligence team will evaluate all loans to maximize return without interrupting the dealerships existing business, ensuring a seamless transition.

About SFG Finance:

SFG Finances tagline is: Turning Paper into Profit One Relationship at a Time. The company is an active purchaser of auto finance receivables and its executive management team has over 75 years of combined industry experience. It is a wholly owned affiliate of Southside Bank, one of the nations largest independent banks with $ 3.2 Billion in assets. SFG Finance buys sub-prime through near prime auto paper, servicing released, from banks, credit unions, auto dealers, and other financial institutions nationwide. The companys aggressive pricing and experience across all credit spectrums make it an industry leader. For more information visit: http://www.sfgfinance.com or call: 866-590-7734.

# # #







SFG Finance Announces 2012 Broker Incentive Contest

Posted on by

(PRWEB) January 23, 2012

SFG Finance (http://www.sfgfinance.com), an active purchaser of auto finance receivables, today announced the launch of its 2012 Broker Incentive Contest.

Phase One of the contest runs from January 1 to June 30, 2012. The first place prize will be awarded to the broker with the highest dollar amount funded between January 1 and June 30, 2012. The winner will receive a 7-day trip for two to Hawaii, or a Caribbean Cruise. The prize includes air fare, hotel or cruise package, and $ 1,000.00 in spending money.

Phase Two of the contest is for the Broker of Year, and runs from January 1, 2012, through the end of the year December 31, 2012. The Grand Prize will be awarded to the broker with the highest dollar amount funded for 2012. The winner will receive the choice of a 10-day trip for two to Hawaii or a cruise to Europe. The Grand Prize includes air fare, hotel or cruise package, and $ 2,000.00 in spending money.

Our brokers have been an integral part of our record growth in 2011. We look forward to even more expansion in 2012, and our brokers play a major role in helping us achieve that goal. For that reason, we want to thank our brokers for the valued services that they have provided to us over the past several years, and offer them this exciting contest said SFG Finance COO Henry Gonzalez.

SFG Finance recently launched a nationwide program to purchase existing near prime, subprime, and BHPH auto loan portfolios from franchised and independent auto dealers, as well as finance companies. Portfolio sizes range from $ 500,000 to $ 150 million, servicing released; all portfolios are held on balance sheet and serviced internally.

The program is highly efficient with a 7-10 day total turnaround from analysis to closing, and will target accounts with as little as 30 day seasoning. Since the inception SFG Finance has actively purchased and closed portfolios from dealers and finance companies in more than 30 states.

Funding is made possible by SFGs parent bank, with the added advantage of no need to securitize plus a more stable cost of funds. SFG Finance offers complete transparency and up-front pricing based its superior analytics. A due diligence team will evaluate all loans to maximize selling dealers return without interrupting the dealerships existing business, ensuring a seamless transition.

About SFG Finance:

SFG Finances tagline is: Turning Paper into Profit One Relationship at a Time. The company is an active purchaser of auto finance receivables and its executive management team has over 75 years of combined industry experience. It is a wholly owned affiliate of Southside Bank, one of the nations largest independent banks with $ 3.2 Billion in assets. SFG Finance buys sub-prime through near prime auto paper, servicing released, from banks, credit unions, auto dealers, and other financial institutions nationwide. The companys aggressive pricing and experience across all credit spectrums make it an industry leader. For more information visit: http://www.sfgfinance.com or call: 866-590-7734.

###







SFG Finance Launches Loyalty Program, Forms Alliance with Subprime Analytics

Posted on by


Arlington, TX (PRWEB) January 30, 2012

SFG Finance, LLC, (http://www.sfgfinance.com), a purchaser of auto paper from Buy Here Pay Here (BHPH) dealers, new car franchise dealers, finance companies, banks and credit unions, today announced the launch of its new loyalty program and the formation of a new alliance with Subprime Analytics, an analytical services leader focusing exclusively on the needs of the large and growing Buy Here, Pay Here industry.

SFG Finance is launching a new loyalty program to help dealers thrive in todays competitive environment by partnering up with premier companies in the industry that are the best at what they do. We feel this program provides a real value-add and are delighted to launch it by forming an alliance with such an industry powerhouse as Subprime Analytics, said SFG Finance C.O.O. Henry Gonzalez.

As part of the new alliance with Subprime Analytics, thousands of dealers will have access to the SFG Finance National Subprime Loan portfolio Program. The program purchases performing vehicle loans, providing needed capital and allowing dealers to achieve greater liquidity in their business ventures. Additionally, sellers of portfolios will gain access to the analytics of the largest BHPH database in the industry, which allows dealers to identify potential underwriting mistakes and be more profitable. A unique benefit of the loyalty program, the first of its kind in the industry, is that SFG will offset the cost of Subprime Analytics services to dealers that sell a minimum of one million dollars to SFG in 2012.

“We are tremendously excited about this new partnership with SFG,” said Ken Shilson, President of Subprime Analytics. “The ability to provide access to a company that specializes in buying BHPH portfolios will be another valuable addition to the array of solutions Subprime Analytics offers its customers,” Shilson continued.

SFG Finance C.O.O. Henry Gonzalez added, “This alliance creates a win-win for both companies, SFG can continue to provide aggressive pricing in the acquisition of portfolios and Subprime Analytics can continue to help BHPH dealers grow their business. Gonzalez went on to say SFG is in the relationship business and we feel by working with Ken and his team we have opened the door to many relationships in the future.

SFG Finance purchases existing near prime, subprime, and BHPH auto loan portfolios from franchised and independent auto dealers, as well as finance companies. Portfolio sizes range from $ 500,000 to $ 150 million, servicing released; all portfolios are held on balance sheet and serviced internally.

The program is highly efficient with a 7-10 day total turnaround from analysis to closing, and will target accounts with as little as 30 day seasoning. Since the inception SFG Finance has actively purchased and closed portfolios from dealers and finance companies in more than 30 states.

Funding is made possible by SFGs parent bank, with the added advantage of no need to securitize plus a more stable cost of funds. SFG Finance offers complete transparency and up-front pricing based on its superior analytics. A due diligence team will evaluate all loans to maximize the selling dealers return without interrupting the dealerships existing business, ensuring a seamless transition.

Dealers can find out more about the program by visiting SFG Finance at booth #3129 at the upcoming NADA & ATD Convention and Expo in Las Vegas, Nevada on February 3-6, 2012. SFG Finance will also be exhibiting at the NABD Dealer Academy May 14th-16th as well as the NABD National Conference May 16th-18th, both to be held at the Venetian Palazzo in Las Vegas, Nevada.

About Subprime Analytics:

Subprime Analytics (http://www.subanalytics.com) provides computerized analysis of subprime portfolios for auto dealers and capital providers nationwide. Its affiliate Profit Max offers web based credit scoring solutions to the subprime industry. For more information visit http://www.subanalytics.com or call 832-767-4759

About SFG Finance

SFG Finances tagline is: Turning Paper into Profit One Relationship at a Time. The company is an active purchaser of auto finance receivables and its executive management team has over 75 years of combined industry experience. It is a wholly owned affiliate of Southside Bank, one of the nations largest independent banks with $ 3.2 Billion in assets. SFG Finance buys BHPH, sub-prime through near prime auto paper, servicing released, from banks, credit unions, auto dealers, and other financial institutions nationwide. The companys aggressive pricing and experience across all credit spectrums make it an industry leader. For more information visit: http://www.sfgfinance.com or call: 866-590-7734.

###







SFG Finance Names PassTime USA its Preferred Vendor

Posted on by

Arlington, TX (PRWEB) February 03, 2012

SFG Finance LLC (http://www.sfgfinance.com), a purchaser of auto paper from BHPH dealers, new car franchise dealers, finance companies, banks and credit unions, today named PassTime USA (http://www.passtimeusa.com), the industry leader in high-tech GPS tracking and Automated Collection Technology solutions as its preferred vendor for its loan purchasing programs.

SFG Finance recently launched a new loyalty program to help dealers thrive in todays competitive environment by utilizing top companies in the industry that are the best at what they do. The program provides a real value-add and we are delighted to have an industry leader such as PassTime USA be associated with our program, said SFG Finance COO Henry Gonzalez.

SFG Finances National Subprime Loan Portfolio Program purchases performing vehicle loans, providing needed capital and allowing dealers to achieve greater liquidity in their business ventures. Additionally, sellers of portfolios will be provided a credit toward the purchase of PassTime devices. We feel by helping a dealer purchase an item they need, and are already using, we add value to their bottom line, Gonzalez stated.

PassTime USA offers GPS tracking and its own Automated Collection Technology (ACT) solutions to its customers in the BHPH and subprime finance industry. Its wide range of products and services, superior 24/7 live customer support, and industry expertise provide customers with a complete package for protecting their assets and managing their portfolios.

“We are very excited about being selected as SFGs preferred vendor for their new program,” said Jake Frank, co-founder of PassTime. “The ability to provide access to a company that specializes in buying BHPH portfolios is another valuable addition to the array of solutions we provide our customers.

SFG Finances recently launched program purchases existing near prime, subprime, and BHPH auto loan portfolios from franchised and independent auto dealers, as well as finance companies. Portfolio sizes range from $ 500,000 to $ 150 million, are held on the balance sheet and serviced internally.

The program is highly efficient with a seven to ten day total turnaround from analysis to closing, and will target accounts with as little as 30 day seasoning. Since its inception SFG Finance has actively purchased and closed portfolios from dealers and finance companies in more than 30 states.

Funding for the program is made possible by SFGs parent bank, with the additional advantage of a more stable cost of funds and without the need to securitize. SFG Finance offers complete transparency and up-front pricing based upon its superior analytics. A due diligence team will evaluate all loans in order to maximize the selling dealers return without interrupting the dealerships existing business, ensuring a seamless transition.

About SFG Finance:

SFG Finances tagline is: Turning Paper into Profit One Relationship at a Time. The company is an active purchaser of auto finance receivables and its executive management team has over 75 years of combined industry experience. It is a wholly owned affiliate of Southside Bank, one of the nations largest independent banks with $ 3.2 Billion in assets. SFG Finance buys sub-prime through near prime auto paper, servicing released, from banks, credit unions, auto dealers, and other financial institutions nationwide. The companys aggressive pricing and experience across all credit spectrums make it an industry leader. For more information visit: http://www.sfgfinance.com or call: 866-590-7734.

Media Contact:

William Donnelly

817-635-5127

About PassTime

Headquartered in Littleton, Colorado, PassTime was founded in 1992; the PassTime Suite of Products is designed to improve customer payment performance and reduce default and repossession risks. In 1997, PassTime created its first Automated Collections Technology product. Over the next several years, a Suite of Products evolved that offer GPS tracking, wireless, and Automated Collection Technology products and services designed to meet the needs of a highly diverse industry of car dealers and special finance companies. PassTime solutions facilitate higher rates of return on financing based upon improved customer payment performance. PassTime prides itself on a 24/7 Customer Care Support Center for partners, lenders, dealerships, and end-user customers. Over the past decade, PassTime has sustained industry leadership with its innovative products and services. For more information about PassTime, please visit http://www.passtimeusa.com or call 877-PASSTIME. Contact Jeff Karg, director of corporate communications at jkarg(at)passtimeusa(dot)com.

###