COLUMBUS, Ohio -

Allstate Credit Acceptance recently announced its plans to offer bids for near-prime and prime auto loan portfolios.

Officials indicated pools that will be considered for purchase must have a minimum balance of $30 million and can run up to $200 million.

“These pools can have very little seasoning with terms as high as 84 months and can be purchased on a servicing retained platform,” Allstate Credit Acceptance said. “The buyer prefers to create relationships with sellers that have interest in continued sales on a quarterly or semi-annually basis, but they will also consider a one-off whole loan sale as well.”

The company’s goal is to create seller partnerships with banks, credit unions and finance companies that are looking for alternative liquidity streams and allow sellers to help themselves grow their origination’s platform/footprint for their higher tier paper while being able to maintain relationships with their direct customers.

More details can be gathered by contacting Jeff Russell at (614) 905-2036, sending an email to allstatecredit@sbcglobal.net or visiting www.allstatecreditacceptance.com.