Westlake Financial Services has launched  Westlake Portfolio Management (WPM), a new business offering third-party servicing solutions to dealers, finance companies, and investors of auto loan portfolios.

WPM will handle the customer service, collections, repossessions, remarketing, and titles administration on third-party auto loan portfolios. It will allow dealers, investors, and finance companies to increase effectiveness with the best team of service professionals in the industry.

With the launch of Westlake Portfolio Management’s new third-party servicing solutions, Westlake Advanced Lending & Portfolio Services (ALPS), a division of Westlake Financial Services, announced a servicing partnership with a private equity owned sub-prime auto portfolio. This shared portfolio has over 7,300 accounts and unpaid principal balance of $65 million.