Cary, this is response to your memo to me dated May 10, 2017 asking me to look into whether Tidewater Finance Company is class worthy. Indeed, it appears that they are. Tidewater is a privately held consumer finance company, owned by the very wealthy family company L.M. Sandler & Sons, out of Virginia Beach, VA. Tidewater provides not only automobile financing but financing of all manner of goods and services by way of subprime loans to individuals with lower than average credit scores (between 550-700 fico). Apparently, Tidewaters pulls their receivables into trusts. I have found press releases noting that one of its portfolios – 2016-A includes $118 Million in auto loans. Several notes collateralized by a pull of retail installment receivables
