ARLINGTON, Texas — Earlier this week, SFG Finance, a purchaser of auto paper from buy-here, pay-here dealers, franchised stores, finance companies, banks and credit unions, revealed its new senior vice president and manager of portfolio acquisitions.

Tapped for the role is Robert Chickowski, who as a member of senior management will be responsible for the supervision of due diligence and portfolio acquisition.

SFG Finance highlighted that Chickowski brings more than 40 years of experience in the consumer and commercial finance industry, particularly in the areas of due diligence and portfolio acquisition.

Prior to arriving at SFG Finance, Chickowski served as senior vice president/due diligence manager with Regional Acceptance Corp. During his six years with the company, he and his team purchased more than $1 billion in receivables.

Chickowski also spent several years at FSB Financial where he managed several departments, including loan servicing and asset remarketing, assisted on due diligence, and his team purchased more than $150 million in receivables.

"We are very fortunate to have Bob as part of our management team," stated SFG Finance chief operating officer Henry Gonzalez.

"He is uniquely qualified to help us leverage our leadership position in the marketplace and expand our market share," Gonzalez added.

In addition to SFG's long history of purchasing both subprime and near-prime auto loans, SFG Finance recently launched a program to purchase existing BHPH auto loan portfolios from franchised and independent dealers, as well as their related finance companies. Portfolio sizes range from $500,000 to $150 million are held on the balance sheet and serviced internally.

"The program is highly efficient with a seven- to 10-day total turnaround from analysis to closing, and will target accounts with as little as 30-day seasoning," executives insisted. "Since its inception SFG Finance has actively purchased and closed portfolios from dealers and finance companies nationwide."

The company noted that funding for the program is made possible by SFG's parent bank with the additional advantage of a more stable cost of funds and without the need to securitize.

SFG Finance reiterated that it offer complete transparency and up-front pricing based upon its superior analytics.

"A due diligence team will evaluate all loans in order to maximize the selling dealers' return without interrupting the dealership's existing business, ensuring a seamless transition," executive concluded.