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Way Fiscally Sound could be what the "WFS" stands for in WFS Financial. One of the nation's largest independent auto finance firms, WFS originates and buys fixed-rate auto loans through a network of some 8,000 car dealers nationwide. The contracts are securitized through sales of investment-grade securities, with WFS retaining the servicing. Some 80% of its portfolio consists of loans to borrowers with good credit. Only about one-third of its loans are for new cars; the remainder are for pre-owned. A subsidiary of Westcorp, WFS was formed in 1988 out of the auto loan department of Western Financial Bank, which provides it with credit for loan purchases.
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Address: |
23 Pasteur
Irvine, CA 92618-3816
| | Phone: | 949-727-1000 | | Fax: | 949-727-2313 |
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| Financial
Highlights | | Fiscal Year End: | December | | Revenue (2005): | 1218.50 M | | Revenue Growth (1 yr): | 15.50% | | Employees (2004): | 2,094 | | Employee Growth (1 yr): | 1.60% |
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Key People
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Chairman:
Ernest S. Rady
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President, CEO, and Director; President, Westcorp and Vice C:
Thomas A. Wolfe
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EVP and CIO; EVP and CIO, Western Financial Bank, and SVP an:
Dawn M. Martin
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