Success is not an accident.
Our success is based on years of hands-on experience and proven processes. No project is too big or small for us to successfully execute a wide range of financial services for you.
Hired for full portfolio management of a $100 million subprime portfolio after regulators shut down the originator and a court-appointed receiver arranged a sale to fund. CSF acted on the fund’s behalf with a third-party servicer to manage the collection strategy and exercise discretion for the fund’s benefit.
Provided full portfolio management services, including sourcing of performing subprime portfolios in excess of $600 million, portfolio and counterparty due diligence, pricing, servicing transfer oversight, and ongoing management of the third-party servicer.
Initially engaged by a private equity firm that owned a subprime finance company to provide several cash flow scenarios enabling the PE firm to evaluate options: (1) selling the assets, (2) liquidating the portfolio with Center Street Finance oversight, or (3) moving the portfolio to a third-party servicer with CSF oversight. CSF was then retained to take over and manage the finance company to enable a non-recourse sale of its assets.
Initially hired to broker the sale of a $12 million subprime portfolio. The determination was made not to sell and to move the portfolio to another servicer. Center Street Finance managed the entire transition to the new servicer and performed full portfolio management with daily interaction with the third-party servicer. CSF’s responsibility for full portfolio management included working with the hedge fund’s accounting firm to ensure the servicer’s certificate was accurate, along with full reconciliations.
Hired to provide a full range of analytical support and reporting for the bank’s specialty lending division. Center Street Finance assumed responsibility for all reporting and tracking of the bank’s internal management and external reporting needs. CSF’s role quickly expanded to provide compliance support as our initial review identified areas for compliance-related corrective action. The bank was able to self-report to regulators with remedial action already addressed, thus avoiding adverse regulatory action.
Hired by the independent finance company owner to perform an in-depth analysis of the cash flows, operations, and compliance issues. Upon completion, CSF recommended a sale of the company. CSF found a purchaser and facilitated the sale.
Engaged to broker subprime portfolios totaling over $500 million. Engagements ranged from simply acting as the broker and sending a data file to performing analytics and due diligence. Unlike other brokers in subprime auto, Center Street Finance creates robust portfolio analysis and stratification, enabling sellers and buyers to have transparency.
Successfully managed the sale process of a $25 million pool on behalf of the private investment fund, negotiated purchase and sale documentation, and facilitated servicer transfer.
Performed analysis on a $65 million BHPH and subprime auto portfolio (servicing retained transaction.) Advised on the purchase and sale agreement, managed the due diligence process, and made recommendations to move the servicing. Created an interface with the servicer, allowing Center Street Finance to receive daily “raw data imports” into SQL: recommended collection strategies and specific call campaigns to improve performance. Perform monthly surveillance with daily interaction with the servicer and client.
Successfully closed the purchase of a $16 million subprime auto portfolio, provided guidance on performance, and transferred servicing. Delinquent accounts were sold to another finance company.
Successfully sourced and closed a $110 million subprime portfolio, performed cash flow analysis, loan file due diligence, and transitioned to a third-party servicer.
Performed analysis for several subprime loan portfolios and multiple lines of credit for car dealerships, including compliance and regulatory due diligence on those dealerships.
General Consulting – Expertise
Provided portfolio analysis and delivered “market value” opinion in connection with the client’s foreclosure process.
Hired as asset representations reviewer for public auto loan securitization issuance by large national auto loan Asset-Backed Security (ABS) issuer under Reg. AB II.
Provided testimony for a federal bankruptcy case in Georgia.
Provided analytics for an independent finance company to support its litigation on two portfolios not performing within expectations.
Current Work With Third-Party Servicers
Currently working with numerous third-party servicers and have in place processing agreements with such servicers. Center Street Finance has developed interfaces with servicers enabling daily data dumps, which in turn gives us the ability to produce a robust analysis of portfolio work with all majoring servicing systems.