LAS VEGAS--(BUSINESS WIRE)--Western Funding, Inc. (WFI) is proud to announce the release of a new automated underwriting system that provides increased efficiency and accuracy, resulting in approximately 50% faster funding time to dealerships.
Western Funding, Inc. began development of the new automated underwriting system in January 2016. After months of testing and quality assurance, the system was activated in May 2016 and now supports automated queues and workflows to improve deal verification, processing and management. These new efficiencies have resulted in faster funding to dealerships.
“We’ve listened to our dealers and recognize that the timeliness of cash flow is one of the most important factors when selecting a lender. We are dedicated to providing our dealer base quick funding to help them grow too,” commented Guerin Senter, President of Western Funding, Inc. “Already, we have seen an improvement of about 50% shorter funding times. With quicker funding, dealers can fund more deals in a shorter time-period and earn more profits by participating in Western Funding’s Triple Pay program.”
Western Funding, Inc. has experienced significant growth over the past two years with a current portfolio in excess of $100 million dollars. WFI’s Triple Pay program provides dealers the opportunity to build a portfolio of accounts and share in the profits of each deal. The program gives the dealers three (3) opportunities to receive payment on the same contract. Dealerships maximize their profits by earning up to 50% of the interest collected and the entire principal as the customer makes payments.
“Westlake Financial Holdings, along with Nowcom, is investing a lot of energy in the processes and the technology of Western Funding, Inc. to ensure the best customer service and loan performance with continued improvement of operation efficiencies. We are very supportive of Western Funding’s future,” concluded Ian Anderson, Group President of Westlake Financial Holdings and its subsidiaries.
Automotive dealerships interested in building a Triple Pay portfolio with Western Funding, Inc. are encouraged to call WFI directly at 702.322.9951.
About Western Funding Incorporated: Western Funding is a specialized consumer finance company and subsidiary of Westlake Financial Services, providing automobile financing to borrowers with limited access to traditional credit. A pioneer in the subprime auto finance sector, Western Funding is an icon in the auto finance industry. Headquartered in Las Vegas, NV, Western Funding acquires and services installment loan contracts originated by their national network of automobile dealers, as well as offering portfolio purchasing.