51.5 F
Laguna Hills
Thursday, Mar 28, 2024
-Advertisement-

CashCall Branches Into Automobile Loans

Anaheim-based consumer-finance lender CashCall Inc. formed an automobile loan division to serve car dealers and consumers “across varying credit levels.”

The company, which has grown as a specialty lender in residential mortgages, said it started accepting car-loan applications from dealerships in California, with plans to expand nationally. CashCall will “provide loans for … individuals who would not otherwise be able to purchase an automobile,” said Louis Ochoa, vice president of loan servicing.

CashCall was founded in 2003 by mortgage-lending industry veteran J. Paul Reddam. The company funded about $10 billion in home loans last year, more than double the total it handled the year prior.

The company is carving out new business as the home refinance market shrinks in the face of rising interest rates.

CashCall has about 1,700 employees, with about 1,400 in Orange County. It has recently announced it may lay off as many as 769 workers in OC in coming weeks.

—Jane Yu

Want more from the best local business newspaper in the country?

Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-
-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-