ARLINGTON, Texas — SFG Finance LLC announced a new scoring model for bulk purchases. The auto paper purchaser for finance companies, as well as buy-here, pay-here and franchised dealers also unveiled a new floor program for finance companies, banks and credit unions.
The auto paper purchaser’s new scoring model for bulk purchases provides the ability to price more aggressively and buy across all credit spectrums, from buy-here, pay-here to super prime, according to company officials. This platform, which officials said utilizes the latest technology and scoring metrics, was developed over the past two years.
The bulk purchase program with the Southside Bank subsidiary touts seven-day turnaround from analysis to closing, company officials said, 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 nationwide. Portfolio sizes range from $500,000 to $150 million, servicing released.
Additionally, the new flow program for finance companies, banks and credit unions is a collateral-based program geared toward subprime credit. The program advances one of the industry’s highest amounts to originators, the company claimed.
SFG Finance also announced its new 2013 Progressive Broker Fee program, which pays increased commissions based on annual volume.
“SFG is introducing the most exciting rollout of new programs in its history,” said Steve Burke, president and CEO of SFG Finance. “Between the new scoring model and flow program, SFG will capture more market share and will create greater revenue for our clients.”