Navigator President: Company Has Made Significant Strides
December 17, 2009
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ATLANTA — In addition to saying the company is making strides since it has come out of bankruptcy, Navigator Acceptance president Bobby Lazenby announced the company is putting up for sale a $3.2 million portfolio, consisting of 470 seasoned, subprime auto loans.
According to officials, this portfolio consists of loans that are no more than seven days delinquent and with 14 to 40 months remaining on terms.
"Despite the polarized conditions of the financial markets, Navigator has successfully completed sales in each of the past two quarters," said Lazenby. "This speaks directly to the quality of underlying assets supported by the appropriate yield."
He went on to point out, "While we have made considerable strides in the right direction over the past 18 months, the company's focus remains on improving credit quality, while serving the unbanked consumers in Georgia and Indiana.
Interested investors should contact Yun Jung Choi at (404) 492-9340, or e-mail ychoi@navigatoracc.com.
Navigator Holdings owns and operates eight independent dealerships, Navigator Dealer Group and a captive finance company, which is Navigator Acceptance.
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