Backup servicer Vervent assumes successor servicing role following Tricolor collapse.

In response to the Tricolor Holdings Chapter 7 bankruptcy filing, Vervent Inc. has been authorized to step in as a successor servicer. Previously designated as backup servicer, Vervent has been given authority to assume servicing for the majority of Tricolor Holdings approximate 100,000 subprime auto loans, ensuring continued support for impacted borrowers.

Before the Tricolor Holdings collapse, Vervent was designated as backup servicer, a role designed to protect consumers in the event of servicer or loan originator failure. Vervent was not involved in Tricolor Holdings originating practices or servicing operations prior to the collapse. On September 19, a bankruptcy trustee court ruling authorized Vervent to assume servicing duties to ensure continuity of service and borrower support.

Vervent is working closely with Wilmington Trust (Indenture Trustee) and JPMorgan Chase Bank (Administrator) to facilitate the court-supervised transfer of servicing. The company has already begun the process of onboarding borrower data, converting accounts into its servicing systems, and preparing its customer service teams to handle increased volume.

“Our top priority is making sure borrowers are treated in a fair and transparent manner,” said David Johnson, CEO of Vervent. “We know how disruptive it can be when access to vehicle information and loan servicing is suddenly lost. Our team is working quickly and carefully to restore normal operations and provide clear communication throughout the transition.”

As successor servicer, Vervent’s responsibilities include:

• Managing loan payments and account servicing
• Securing and transferring funds
• Handling vehicle inventory such as titles and keys
• Assisting customers with loan payoffs, payment plans and insurance claims
• Working with regulatory agencies to ensure compliance with all laws, rules, and regulations

Loan terms and payment obligations remain unchanged. Borrowers will receive updates as the bankruptcy process continues.

Support for Impacted Tricolor Borrowers

Borrowers are still responsible for making payments. Please continue to manage your account and make payments as you normally would.

Tricolor Customer Service: 1-888-44TRICO (1-888-448-7426)

Email: Tricolor@acct-admin.com

Prefer to Manage Your Account Online? All payment portals are active. You can continue making payments and manage your account online.

The Importance of Reliable Backup Servicing Safeguards

Now more than ever, Capital Markets Services such as Backup Servicing, secure eVaults, Collateral and Liquidation Agent capabilities play a critical role in structured finance. These safeguards offer investors assurance that portfolios can be converted and serviced with minimal to no disruption, and it provides issuers and trustees with a reliable partner committed to support borrowers and maintain portfolio performance.

“This situation highlights why having an experienced and capable backup servicer is so critical,” added Johnson. “This critical safeguard is built into financial systems to protect consumers when things go wrong. Our job now is to step in, stabilize the situation, and make sure borrowers are taken care of.”

Vervent has activated emergency protocols to address urgent borrower needs. With over 35 years of experience, the company has successfully managed multiple high-pressure servicing transfers, including converting distressed auto portfolios in compressed time frames and handling high volumes of consumer communications — all while maintaining service quality.

About Vervent:

As a fintech leader in the industry, Vervent sets the global standard for outperformance by delivering superior expertise, future-built technology, and meaningful services. We support our partners with primary strategic services including Primary Loan & Lease Servicing, Backup Servicing/Capital Markets Services, eVault Solutions, Managed Services, and Credit Card Servicing. Vervent empowers companies to accelerate business, drive compliance, and maximize service.

Contact us today to find out how we can help boost your performance at Vervent.com or Solutions@Vervent.com.

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