Triad Financial Enters Third-party Servicing Business

Triad Financial Corporation today announced that it has entered the third-party servicing business. The company is currently signing up clients who need servicing for consumer vehicle loans.

Triad provides a full-service solution, as well as the following niche services:

• Title and records management
• Account administration 
• Customer service 
• Payment processing 
• Insurance claims processing 
• Collections 
• Bankruptcy management 
• Repossession management 
• Asset remarketing 
• Loss recovery
  

Triad partners with clients who want to take advantage of the former lender’s expertise, scale and nearly 20-year history of servicing success. Hence, the company’s new tag line: “Expert loan servicing. Proven results.” Clients also enjoy a flexible business model with variable expenses. In other words, they only pay for what they need.

“This move is a natural fit for Triad, considering our established infrastructure and multibillion-dollar portfolio of our own loans,” says Dan Leonard, president and CEO. “Loan servicing is our only business. We’re dedicating all our resources to superior portfolio management, and now other companies can benefit from it.”

Scott France, senior vice president of Portfolio Management, says Triad is promoting its services to credit unions, finance companies and investors. “These particular groups gain the most from having an industry-leading servicing department at their fingertips. By trusting Triad with their accounts, they save time and money,” he says. “Most importantly, our clients are free to focus on their specialty because we’re focused on ours – providing expert loan servicing and maximizing clients’ profits.”

Specifically, clients leverage Triad’s:

• Two-decade track record of servicing loans through every economic cycle, while still delivering solid performance
• Seasoned leaders, who each have (on average) 20 years experience in portfolio management, including higher-risk, non-prime accounts 
• Efficient, effective processes and economies of scale 
• State-of-the-art facility, technology and software 
• Volume-based pricing from a dependable network of repossession companies, auctions and attorneys across the country 
• Increased auction yield from the popular vehicle certification program, Trademark by Triad™
  

On Oct. 23 through Oct. 25, Triad will make its first trade show appearance as a third-party servicer at the California Credit Union Collectors Council annual conference at the Flamingo Las Vegas. For further information, visit www.TriadServicing.com.

About Triad Financial
With more than 800 employees and the financial strength of approximately $2.6 billion in managed receivables, Triad Financial Corporation’s business focus is on superior vehicle loan servicing through customer care, collections, asset remarketing and loss recovery.

Founded in 1989, Triad offers specialty expertise in non-prime accounts, and has serviced more than 1 million collateralized loans across the full credit spectrum over the past 10 years alone. Triad’s headquarters and main servicing center are in North Richland Hills, Texas. The company has a regional office in Huntington Beach, Calif.