CSC Chosen By Universal Auto Finance

CSC to Provide Back-Office Systems and Support for Subprime Auto Lending Program

Computer Sciences Corporation today announced that Universal Special Auto Finance (Universal), a capital management company based in Greenwood Village, Colo., has chosen CSC's banking services for a new nationwide, subprime automotive lending program. Under the five-year business process outsourcing (BPO) contract, CSC will provide lending software, accounting support, and collections and related back-office services.

The Universal program will provide a new, more stable way for banks and other investors to participate in the subprime auto loan market and offer auto dealerships a lending alternative for their credit-challenged clients. Under the agreement, CSC will support the program's customers by providing loan processing services and software.

"We knew that CSC's experience and flexibility would bring a strong foundation to this innovative auto lending program," said John Scordo, Universal's executive vice president. "This long-term strategic alliance with CSC will help us create an attractive opportunity for both non-securitized and securitized investments, and dealers will appreciate the program's fast, efficient credit decisions and consistent funding."

"CSC has been bringing stability to automotive lending services for more than 30 years," said John F. Kilgore, vice president and director of CSC's Banking Services. "Customizing CSC's banking BPO services, by individual client or project as we have for Universal's new start-up program, enables us to deliver the specific business results our clients seek."

One of the nation's largest third-party loan servicers, CSC began offering solutions for the lending lifecycle in 1972 and has been managing securitized and non-securitized loan portfolios since 1990. More than 200 financial institutions have relied on CSC to manage acquisitions, conversions and servicing for more than $10 billion in loans - CSC.