Westlake Portfolio Management (WPM), a premier primary and backup servicer specializing in auto and specialty consumer assets, announced the successful transfer and onboarding of a $235 million FinBe portfolio, which closed on August 1, 2026.
WPM completed the servicing transition in approximately 45 days from start to finish, maintaining continuity for customers and investors throughout the transfer.
“Our focus was to provide a seamless customer experience while maintaining consistent servicing performance for all stakeholders,” said Todd Laruffa, VP, Westlake Portfolio Management. “Our team’s ability to complete this transition within a condensed timeframe demonstrates the strength of WPM’s servicing platform and onboarding capabilities.”
“Todd and the WPM team have been true professionals across the board and have validated my decision to move our portfolio to WPM for servicing,” said Scot Seagrave, CEO of FinBe. “Their team has been great to work with, and the communication has been above and beyond. I expect the collections and customer service experience for our customers will not miss a beat.”
Since the transfer, WPM has received positive customer feedback and exceeded expectations for customers establishing recurring payments within the first 30 days.
Key highlights include:
- $235 million total portfolio transferred, including $90 million active and $145 million charged off
- 2 active loan pools included in the transfer; $76 million ABS pool and ≈ $14 million unencumbered loan pool
- 45-day transition period from start to finish
- Positive customer feedback following the transfer
- Recurring payment setup exceeded expectations within the first 30 days
- Continued focus on servicing continuity and portfolio performance
The transition was structured so that ABS bondholders are not expected to experience disruption to their investment or portfolio performance as a result of the servicing transfer.
WPM provides servicing solutions across customer service, collections, payment processing, repossession management, remarketing, and compliance oversight for a variety of consumer asset classes. Its technology and operational infrastructure are designed to support efficient portfolio transitions and ongoing performance across diverse portfolios.
For more information about Westlake Portfolio Management and its servicing solutions, visit www.wpmservicing.com.
About Westlake Technology Holdings: Westlake Technology Holdings is an auto and finance technology company headquartered in Los Angeles, CA with over $27 billion in assets under management. Westlake Financial (“Westlake”) originates indirect automotive retail installment contracts through a nationwide network of new and used automotive and a wide variety of asset types. Westlake also offers credit facilities and commercial real estate loans through Westlake Capital Finance (WCF); portfolio servicing through Westlake Portfolio Management (WPM); floor plan lines of credit are provided through its Westlake Flooring Services division, www.WestlakeFlooringServices.com; shared cash flow auto lending through Westlake’s wholly-owned subsidiary, Western Funding Inc., a Nevada based auto lender; indirect automotive leasing for credit unions through Westlake’s subsidiary, Credit Union Leasing of America (CULA); dealer leads and direct-to-consumer auto loans are offered through Westlake Direct; consumer installment loans are offered through Westlake’s wholly-owned subsidiary LoanCenter, www.loancenter.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260929089734/en/
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