DebtMarket and First Associates Offer Lenders New Liquidity Options
DebtMarket, a portfolio sales marketplace, and First Associates Inc., a consumer loan servicing firm, have partnered up to provide a new way to sell loan originations and improve loan servicing.
LOS ANGELES and SAN DIEGO — DebtMarket, a portfolio sales marketplace, and First Associates Inc., a consumer loan servicing firm, have partnered up to provide a new way to sell loan originations and improve loan servicing.
“Our partnership with First Associates is another step in the direction of a more efficient and transparent process for pricing and selling consumer debt portfolios,” said DebtMarket Co-founder and President Mike Sheridan.
The partnership benefits Debtmarket’s portfolio sellers and buyers by speeding the transfer of loan servicing, which helps eliminate payment disruptions among consumers, who often are confused about where to send payment when a loan is sold.
Additionally, the partnership provides First Associates consumer lenders with free access to DebtMarket where they can establish market pricing for assets and have an end-to-end transaction management platform. DebtMarket sellers pay a percentage fee only after a portfolio sale closes.
“First Associates offers the experience, outstanding technology, infrastructure and scalability to meet the servicing needs of the schools, banks, credit unions and other credit providers DebtMarket serves,” said First Associates CEO Doug Henkel. “Partnering with DebtMarket brings a whole new dimension to the lenders we already serve at a time when liquidity and establishing market pricing for portfolios has been an issue for them.”
More Auto Finance
Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Auto Credit Plentiful
June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →
Tariffs Could Raise Insurance Premiums
As U.S. import tariffs affect repair costs, consumers might find it more affordable to replace a damaged vehicle, according to recent Insurify tariff analysis.
Read More →
Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
Read More →
New Cars a Tad More Affordable
May averages show that combined circumstances gave auto consumers slightly better buying power for the month, though average prices were up year-over-year.
Read More →
First-Quarter Sees Long Auto Loan Growth
Experian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.
Read More →
Mastering Credit Friction
In this video, Josh Krach explains how to turn credit friction into an advantage.
Read More →