Work with an experienced industry leader. First Associates can support automotive programs with complete turnkey origination/service solutions or provide support for specific functions such as verification calls or remarketing.
First Associates is well respected in the automotive industry as a trusted resource that can provide:
- Loan servicingLease servicing
- Verification calls
We look forward to accelerating your auto program. Contact us today.
Real Clients; Real Results
Challenge: Reduce defaults in a subprime auto loan pool for a financial investor that was seeing them trend higher—and frustrated that its previous servicer had no plan for turning things around
Strategy: First Associates initiated an intense, high-touch servicing approach that included a program of intensive skip tracing and outreach to reestablish relationships with a majority of borrowers and bring them back to a current status. We also used our preferred status with remarketing vendors to yield significantly more from the defaulted loans.
Result: Borrower outreach through multiple channels played a key role in reducing defaults by 65% and increasing recoveries by 25%.