Innovate To Service Subprime Portfolio Worth Millions
Innovate is an auto finance dealer based in the United States. They are a company who specializes in purchasing and servicing portfolios of vehicle loans from every state. They have currently went through some changes and are now going to be retained by an investment firm that works with many different countries.
They are being retained to source more than $50 million dollars worth of auto loan portfolios that are subprime. A representative of the company confirmed this information last week.
Innovate will still be sourcing, underwriting, performing due diligence, processing and servicing all of the portfolios which the unnamed investment firm will choose to acquire through their own means. According to Preston Miller, the CEO and Finance President of Innovate Auto Finance, the company is very excited about these changes.
Everyone is excited to offer a new full-service, turnkey solution which will leverage the company’s almost decade-long experience in successfully obtaining new subprime portfolios of auto loans.
Now the company is moving into its third generation in business. Their very predictive pricing models and credit scoring offers immense assets for assisting any investment firms who are wanting to gain exposure in the subprime auto finance sector.
The company was founded back in 2009. The company, Innovate Auto Finance, is known for purchasing different subprime auto loan portfolios. They typically will purchase these auto loan portfolios in bulk amounts from different finance sources and dealerships.
The company also offers a liquidity solution for both independent and franchised companies. They offer additional solutions to finance companies as well. Since they opened the business, they have purchased over $500 million in accounts receivables.
What This Change Means For Innovate
The multi-million dollar commitment from a multi-national assets management firm is going to bring about big changes to Innovate.
They will be able to offer a full-service investment program for subprime loan portfolios. This new partnership will help to leverage the extensive experience that Innovate has with acquiring the loan portfolios.
In addition to their acquisitions, their auto remarketing and servicing companies are going to help bring over ten years of great results to the table to ensure that all of the company’s clients will be able to maximize their profits out of this investment opportunity.
The two companies that Innovate run are called Caprock Auto Remarketing and Loan Portfolio Servicing.
About Innovate Auto Finance
Innovate Auto Finance is located centrally in North Texas. The company has been around for decades and is led by a proven team of management leaders with years of experience in the industry of automotive finance. They are fully committed to the success of their customers.
Trust, integrity and collaboration allows the company to foster and cultivate partnerships with their clients that will last many fruitful years. The company specializes in portfolios of auto loans of varying sizes.
Innovate is licensed in almost every state in the United States. They offer a seller-friendly process with flexible terms and have worked hard to earn a reputation they are proud of in the community.
Their customers with bad or good credit are ones who are happy enough to come back time and time again to do business with them. They have the commitment, capital and experience necessary to help their clients during all of their business cycles.