SFG Finance Rolls Out New Bulk Purchase and Flow Programs
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ARLINGTON, Texas — SFG Finance, a purchaser of auto paper
from buy-here, pay-here dealers, franchised dealers, finance companies, banks
and credit unions, announced two major changes to its business model for 2013.
First, officials explained this week that a new scoring
model for bulk purchases has been developed. This new platform can provide the
ability to price more aggressively and buy across all credit spectrums from BHPH
to super-prime.
SFG indicated this unique and proprietary platform has been
developed over the past two years implementing the latest technology and
scoring metrics.
The company highlighted the bulk purchase program is
designed to be highly efficient with a seven-day total turnaround from analysis
to closing and can target accounts with as little as 30 day seasoning.
Since its inception, SFG Finance has actively purchased and
closed portfolios from dealers and finance companies nationwide. Portfolio
sizes range from $500,000 to $150 million, servicing released.
Also, the company introduced a new flow program for finance
companies, banks and credit unions. This unique subprime credit program is
collateral based. The program can advance one of the industry's highest amounts
to originators.
Funding is made possible by SFG's parent bank, Southside
Bank, one of the nation's largest independent banks. Officials emphasized there
is an added advantage of no need to securitize, plus a more stable cost of
funds.
"SFG Finance offers complete transparency and up-front
pricing based on its superior analytics," officials said.
Furthermore, SFG Finance also just announced its new 2013
Progressive Broker Fee program. This program can pay increased commissions
based on annual volume.
"SFG is introducing the most exciting rollout of new
programs in its history," SFG president and chief executive officer Steve Burke.
"Between the new scoring model and flow program SFG will capture more market
share and will create greater revenue for our clients."
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