MINNEAPOLIS -

van Wagenen Financial Services recently confirmed participation in the Symitar Vendor Integration Program.

Officials highlighted this development will directly benefit lenders managing auto loans on the Symitar core processing system by increasing the efficiency of auto loan payment adjustments.

The company insisted the integration coordinates insurance placement and core system technologies to enable automated recalculation of borrower payments on accounts requiring lender placed insurance policies.

"Any opportunity to increase efficiency is a benefit to our lender clients," said Jeff Anderson, van Wagenen's vice president of sales for auto Finance. "Automating the recalculation process eases the resource burden and minimizes opportunity for error in adjustments."

Anderson and his team work with a broad range of auto finance companies from buy-here, pay-here dealers all the way to the captive finance companies.

Already van Wagenen is one of the largest trackers of auto loan insurance. Anderson emphasized the automated recalculation capability can add further value to any lender utilizing the Symitar core processing system.

When tracking reveals an insurance deficiency which remains uncured and a lender-placed policy becomes necessary, the payment recalculation step is tied conveniently into the processing system.

The Symitar Vendor Integration Program announcement comes on the heels of several auto finance focused product introductions for van Wagenen.

"The auto market is core to our business model. We are moving swiftly to increase offerings and build a portfolio as an all around provider for our clients," van Wagenen vice president and general manager Randall Rempp said.