Westlake Reports Strong Growth in 2020

By Staff Writer February 12, 2021

Westlake Technology Holdings reports 14.7 percent growth in 2020, compared to 2019, with $12.14 billion in total managed assets. The company directly attributes this success to the dedication of its employees. Despite the challenges of the COVID pandemic, their employees quickly adapted to remote work and persevered through the year – allowing the company to experience growth over 2019.

 

Through 2020, Westlake Technology Holdings improved its servicing, expanded relationships with industry partners, and launched new products.

  • Westlake Financial continued its strong push in prime credit financing with a 6 percent increase in prime loan originations for 2020 over 2019.
  • Overall, 50 percent of Westlake Financials’ portfolio consists of 600+ FICO customers.
  • Western Funding reported a 21 percent YOY growth in deal volume and 37 percent growth in producing dealers for 2020.
  • Westlake Capital Finance (WCF) closed the year with 152 percent growth in credit line and commercial real estate loans.
  • Credit Union Leasing of America’s lease volume grew 43 percent in Q4 2020 compared to 2019.
  • Wilshire Consumer Credit (WCC) reported a 90 percent increase in unsecured loans in 2020 compared to 2019 and expanded into 35 new states.
  • Westlake Direct pre-qualified over 5,000 customers and routed to auto dealers and reported $100 million in total managed assets.
  • Westlake Portfolio Management (WPM) added $300 million in third-party servicing portfolios.
  • Westlake Flooring Company increased its portfolio size by 24.8 percent and a 42.4 percent reduction in delinquency over 2019.
Rate this item
(0 votes)
Last modified on Monday, 15 February 2021 12:55