Flagship Credit Appoints John R. Schwab as Chief Financial Officer

Flagship Credit Appoints John R. Schwab as Chief Financial Officer

November 06 2015 | Chadds Ford, PA

CHADDS FORD, PA November 6, 2015 – Flagship Credit Acceptance LLC (“Flagship” or “the Company”), a leading non-prime independent automotive financing and servicing company is pleased to announce the appointment of financial industry veteran John R. Schwab as Chief Financial Officer for the organization.

Mr. Schwab brings extensive financial leadership experience in treasury and capital markets to Flagship. He joins the company from The J.G. Wentworth Company where he served as Executive Vice President and Chief Financial Officer.

"We are excited to work with John on Flagship's continued growth," said Michael Ritter, founder and Chief Executive Officer of Flagship Credit. "With extensive corporate finance, capital markets and treasury experience, he will further strengthen our finance organization. We expect that John will continue to build upon the success he established in his former roles," said Ritter.

"I am very excited to join the Flagship team," said John Schwab. "Flagship has defined itself as a leading independent automotive finance company and I look forward to contributing to the next phase of growth."

Mr. Schwab was the Executive Vice President and Chief Financial Officer of The J.G. Wentworth Company™ (NYSE: JGW), a position he has held since 2013 where he was instrumental in the process of becoming a publicly traded company. Prior to joining in April 2013, he served in various capacities since 2004 for Expert Global Solutions, Inc. (formerly NCO Group, Inc., a publicly traded company through 2006) including Executive Vice President and Chief Financial Officer. Prior to his employment at Expert Global Solutions, Inc., Mr. Schwab was the Chief Financial Officer of RMH Teleservices, a publicly traded teleservices company and Inrange Technologies Corp. Mr. Schwab spent eleven years at Arthur Andersen, most recently as a Senior Manager, and was a certified public accountant. Mr. Schwab graduated from LaSalle University with a BS in Business Administration - Accounting.

About Flagship Credit Acceptance

Flagship Credit Acceptance LLC ("Flagship"), headquartered in Chadds Ford, Pennsylvania with offices in Irving, Texas, Phoenix, Arizona, Irvine, California and Indianapolis, Indiana, helps credit-challenged auto shoppers secure financing through partnerships with primarily franchised auto dealers and through its direct lending site, CarFinance.com. Flagship Credit has successfully grown its portfolio to $2.9 billion in managed receivables. The Company currently purchases indirect auto contracts from a nationwide network of over 9,400 dealers and originates direct to consumers in 46 states.

Fair Lending Policy

Flagship Credit Acceptance, LLC ("Flagship") is committed to maintaining a culture of fair credit throughout the organization. In this regard, Flagship has developed a Fair Credit Program ("Program") that complies with all applicable fair credit laws and regulations ("FC Laws") and reflects industry best practices. Flagship is committed to comply with the letter and spirit of FC Laws. The goal of the Program is to carry out Flagship's commitment and be recognized internally and externally (e.g., by management, associates, customers, service providers, and the public) as dedicated to fair credit principles and demanding of compliance. The Program applies to all aspects of Flagship's operations (including reviewing, purchasing and servicing retail installment sale contracts whether for itself or others) and all services offered by Flagship, and across all of Flagship's credit operations, including marketing, underwriting, origination, processing, servicing, collection, loss mitigation, and payoff activities, and to all personnel who work for or on behalf of Flagship, whether as associates, officers, members of the Board of Directors, agents, representatives or service providers.

Should you have any questions about the details of any of Flagship's policies, please contact us at 1.800.900.5150 M-F, between 9:00 a.m. and 5:00 p.m. EST.

×

Our Lending Philosophy

A borrower is more than just a credit score. At Flagship, we focus on the story behind the customer …and look beyond the number.

Life happens. Whether low credit scores are a result of past circumstances, one-time events or just bad luck, Flagship offers multi-tiered pricing structures to finance borrowers across the credit spectrum.

At Flagship we believe a borrower’s credit past shouldn’t dictate their future.

Many borrowers need a second chance. We recognize the vast majority of persons with credit challenges are working hard to re-establish their credit rating. Each of our Credit Analysts are trained in "common sense" lending, a philosophy of reviewing all the circumstances and determining the appropriate deal structure for the specific borrower situation. Flagship maintains a very high standard regarding  Fair Lending compliance, ensuring our customers are always treated professionally and consistently.

×