First Associates Loan Servicing, LLC to Provide Loan Servicing for CrediautoUSA Financial Company LLC Automotive Loan Portfolio

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Loan servicing from First Associates enables Crediauto to rapidly scale its operations while achieving industry-leading security and compliance

First Associates

First Associates’ great leadership, highly-trained and experienced staff provides the high-touch levels of service that helps us build strong, long-term relationships with our clients.

First Associates Loan Servicing, a leading servicer in the automotive and powersports finance industries, has partnered with Crediauto Financial, a company that provides auto financing solutions to franchise and independent car dealers in California.

Based in San Diego, Crediauto specializes in providing auto loan financing to individuals with limited or non-existent credit history and those with less-than-perfect credit. Crediauto has particular expertise in understanding and serving the needs of the Hispanic auto purchase market. The company recently completed a capital facility which provides for up to $75 million to facilitate the acquisition by Crediauto of nonprime automobile financing contracts.

Crediauto’s unique underwriting model goes beyond credit scores by evaluating a number of factors to determine credit worthiness. The company helps auto dealerships across California grow sales and expand their customer base by providing them with a competitive choice to finance nonprime car buyers, including those who may have been excluded from traditional lending channels.

“We are very excited to partner with First Associates.” said Rafael Gomez, President and CEO of Crediauto Financial. “First Associates' great leadership and highly-trained and experienced staff provides the high-touch levels of service that helps us build strong, long-term relationships with our clients.”

“We look forward to partnering with Crediauto Financial,” said First Associates Loan Servicing CEO David Johnson. “Their innovative approach to credit decisioning expands much needed financing opportunities to traditionally underserved borrowers, providing them with the independence and flexibility that comes with car ownership.”

First Associates has more than 25 years of industry experience in the consumer finance industry and has partnerships with many leading automotive and powersports financing companies. In addition to loan and lease servicing, the company offers support services, such as backup servicing, contract validation, verification calls, and title management.

About Crediauto
Founded in 2012 and headquartered in San Diego, California, Crediauto has established one of Southern California's leading programs to finance vehicles sold by licensed automobile dealerships to individuals with no credit history or with less than perfect credit. The company has developed an extensive automobile dealerships network, as well as a state-of-the-art, customer friendly and service oriented originations platform. For more information, visit http://www.crediautofinancial.com.

About First Associates Loan Servicing, LLC
Based in San Diego, First Associates Loan Servicing is the fastest growing third-party loan and lease servicer in the United States. The company offers a wide range of solutions for a variety of asset classes including automotive, motorsports, business, consumer, solar, timeshare and student loans. First Associates has experienced management and staff, full SSAE 16 II audit, best-in-class IT infrastructure, as well as strong institutional relationships with commercial and investment banks, finance companies, investment funds and credit unions. First Associates Loan Servicing leads the consumer finance industry in providing customized technology and customer service solutions for its partners. For more information, please visit http://www.1stassociates.com.

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Larry Chiavaro
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