DALLAS--(BUSINESS WIRE)--DIMONT, the largest provider of insurance claims recovery and collateral loss mitigation services for more than 22 years, confirmed today it will provide claims recovery services for Westlake Financial’s auto loan inventory portfolio.
Headquartered in Southern California, Westlake Financial Services is the largest privately held finance company in the United States, specializing in the acquisition and servicing of prime to subprime retail installment contracts. Westlake originates indirect retail installment contracts through a network of more than 30,000 new and used car dealers nationwide.
DIMONT’s collateral loss mitigation solution will deliver substantial benefits to Westlake by increasing overall claim recoveries on their inventory portfolio.
“Westlake is excited to work closely with DIMONT on this new service offering and we are optimistic about the results it will bring to our organization,” said Ian Anderson, president, Westlake Financial.
“We believe our collateral loss mitigation solution is poised to achieve significant results for Westlake by maximizing recoveries and lowering overall costs,” said Denis Brosnan, president and CEO, DIMONT. “DIMONT’s 22+ years of a proven track record in the mortgage industry has well positioned us to achieve similar success in the automotive lending space.”
Founded in 1996, Dallas-based DIMONT is one of the largest providers of insurance claims and collateral loss mitigation services to the residential mortgage and auto lending industries in the United States. Additional information is available at www.dimont.com.
About Westlake Technology Holdings
Westlake Technology Holdings is an auto and finance technology company headquartered in Los Angeles, CA with approximately $6.5 billion in assets under management. Westlake Financial Services originates indirect automotive retail installment contracts through a nationwide network of new and used automotive and powersports dealers. Westlake also offers loan portfolio purchasing, credit facilities and portfolio servicing through their ALPS division (Advanced Lending & Portfolio Services); www.WestlakeALPS.com. Floor plan lines of credit are provided through Westlake Flooring Services; www.WestlakeFlooringServices.com, shared cash flow auto lending through Westlake’s wholly owned subsidiary, Western Funding Inc, a Nevada Based auto lender, and indirect automotive leasing for credit unions through Credit Union Leasing of America (CULA), is a subsidiary of Westlake, dealers leads and direct-to-consumer auto loans through Westlake Direct, and direct to consumer title loans are through Westlake’s wholly owned subsidiary Loan Center; www.loancenter.com