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Former AmeriCredit Exec Launches Loan Portfolio Servicing Company

October 11, 2012

FORT WORTH, Texas — Loan Portfolio Servicing (LPS) has begun its full-scale launch as a national third-party servicer of subprime automotive loans. The company specializes in helping start-up finance companies and those with small- to mid-sized portfolios, according to LPS officials.

"When the last economic downturn hit, I knew it would just be a matter of time before the capital markets opened back up and players started to jump back in to the nonprime lending arena. So I formed LPS during the down market," said Scott France, president of LPS and Caprock Auto Remarketing, a sister company of LPS. "We wanted to be ready, tested and proven when the money started flowing again and startups began looking for an alternative to building their own brick-and-mortar servicing platform."

He added that as a third-party portfolio management company, the company will allow newer and smaller originators to take advantage of its large infrastructure and expertise without incurring the high overhead costs of developing their own platform.

Loan Portfolio Services has actively serviced loans since January 2011, and is currently managing approximately $50 million in auto portfolios. Since then, the company has been working to build its platform and prove out its business model ahead of today's full-scale launch.

"After almost two years of technology and process development and implementation, we are confident that our services will enable finance companies and their investors to maximize portfolio returns," France said.

The company welcomes clients who want to leverage LPS' economies of scale, as well as its decades of experience. France is an industry veteran with more than 25 years of loan servicing under his belt at Triad Financial, AmeriCredit and WorldOmni. The members of his team are also seasoned veterans of the industry, having worked with France throughout their careers.

Clients of LPS include startup auto finance companies, banks, credit unions, dealer groups and investors. Each client receives daily customized reporting as well as real-time access to portfolio performance data.

"We tailor our approach to each client, so it doesn't matter whether you have five loans a month or 500. Either way, you will receive responsive service and highly effective servicing," France said.

 

 

 

 

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