SFG Finance Taps 30-Year Veteran to Be Business Development Manager
July 27, 2012
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ARLINGTON, Texas — SFG Finance, a paper purchaser from buy-here,
pay-here dealers franchised stores, finance companies, banks and credit unions,
this week named a former Trac Lending and Autobytel executive as its new business
Taking on the role is Stuart Levin, who will be charged with expanding SFG's base of sellers in the portfolio acquisition arena as well as developing flow relationships nationwide.
SFG Finance mentioned Levin brings more than 30 years of auto finance experience to the company with a "proven record" of developing relationships across the auto landscape and driving results.
Prior to SFG Finance, Levin worked for 14 years at Trac Lending most recently as president, with overall responsibility for establishing subprime auto finance operations.
Prior to that post, Levin served as chief operating officer at Driveitaway.com where he developed and oversaw an upstream remarketing program for fleet lease vehicles.
Also Levin previously worked at Autobytel as director of advanced finance products where he developed an operations plan for the fulfillment center of a national lender. He also served as the director of Autobytel's Used Car Program, and was responsible for strategic planning for the Pre-owned Cyber store.
"Stuart will provide us a broad base of knowledge in the industry and we are very excited that he is part of our team," stated Robert Chickowski, SFG Finance's senior vice president and manager of portfolio acquisitions.
"He is a well known and highly regarded marketing expert in the underserved automotive lending market," Chickowski added.
SFG Finance reiterated that it purchases existing near prime, subprime and BHPH auto loan portfolios from franchised and independent dealers as well as finance companies. Portfolio sizes range from $500,000 to $150 million and all portfolios are held on balance sheet and serviced internally.
Executives highlighted their program is geared to be highly efficient with a seven to 10 day total turnaround from analysis to closing. The program targets accounts with as little as 30-day seasoning.
Since the inception SFG Finance has actively purchased and closed portfolios from dealers and finance companies nationwide.
Funding is made possible by SFG's parent bank with the added advantage of no need to securitize plus a more stable cost of funds.
"SFG Finance offers complete transparency and up-front pricing based its superior analytics," executives highlighted. "A due diligence team will evaluate all loans to maximize the selling dealer or finance companies return without interrupting their existing business, ensuring a seamless transition."
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