Challenge Financial Services announced today the acquisition of the $21 million auto loan portfolio of MAS Financial Services.
“We are proud to have the opportunity to serve the customer base of MAS Financial, an Auto Lender we know and respect, and who is recognized throughout the industry for common sense lending practices, and friendly customer service,” said Challenge President, Jeff Mortis.
In business since 2000, MAS Financial Owner, Sager Moritzky said, “After more than two decades of success in Auto Finance and running Auto Dealerships before that, it was time to enjoy time with my family that has supported me through the years. I am glad that I could find a buyer in Challenge Financial that I trust and who was able to take on many of my hard-working staff.”
For MAS Customers
For transitioning MAS customers, your accounts will be unaffected. Your balance, payment amount, and due date remain the same.
Challenge is now available to take your payments, provide account service, and will continue to report payment history to credit bureaus to help build your good credit.
Please send all future payments to Challenge Financial at www.cfsnow.com.
About Challenge Financial
Challenge is a family owned, Indirect Auto Finance Company offering Near Prime and Subprime Lending to Independent and Franchise Dealerships throughout the Western United States, as well as Loan Servicing to Banks, Finance Companies, and Dealer Groups.
About MAS Financial
MAS Financial, headquartered in Santa Ana, CA, has been an Indirect Auto Lender serving Dealerships in California and Arizona. With this portfolio sale, MAS Financial will wind down Originations and Servicing operations.