Fort Worth, Texas – Loan Portfolio Servicing (LPS) started its full-scale launch as a national third-party servicer of subprime automotive loans. LPS specializes in helping start-up finance companies and those with small- to mid-sized portfolios.

"When the last economic downturn hit, I knew it would just be a matter of time before the capital markets opened back up and players started to jump back in to the nonprime lending arena. So I formed LPS during the down market," said Scott France, president of LPS and Caprock Auto Remarketing (LPS' sister company). "We wanted to be ready, tested and proven when the money started flowing again and startups began looking for an alternative to building their own brick-and-mortar servicing platform."

LPS has serviced loans since January 2011 and is currently managing approximately $50 million in auto portfolios. The company used the time since start-up to build its platform and prove out its business model. "After almost two years of technology and process development and implementation, we are confident that our services will enable finance companies and their investors to maximize portfolio returns. Now the time has come to introduce LPS to more clients," France said.