Consumer Portfolio Services reports developments tied to its specialty auto finance business, which purchases and services retail installment sales contracts from automobile dealers and provides indirect financing to borrowers with limited credit histories or past credit problems.
Company news commonly covers quarterly earnings, contract purchase volume, portfolio balances, delinquencies and net charge-offs, as well as asset-backed securitizations backed by automobile receivables. Updates also address warehouse credit facilities, residual-interest securitizations, forward flow arrangements, dealer relationships, and loan and collections systems used to originate and service auto contracts.
Consumer Portfolio Services, Inc. (Nasdaq: CPSS) will hold a conference call on July 22, 2020, at 1:00 p.m. ET to discuss its Q2 2020 operating results. Participants can call 877-312-5502 or 253-237-1131 (international) to join. A replay will be available from July 22 to July 29 by calling 855-859-2056 or 404-537-3406 (international). The call will also be broadcast live and accessible for 90 days via the company’s website at www.consumerportfolio.com.
Consumer Portfolio Services (Nasdaq: CPSS) announced the successful closing of its second term securitization in 2020, marking its 36th senior subordinate securitization since 2011. This transaction received a triple 'A' rating for the 19th consecutive time from multiple agencies. Qualified buyers purchased $202.3 million in asset-backed notes secured by $221.9 million in automobile receivables. The notes feature an average coupon of approximately 4.09% and initial credit enhancement, ensuring the transaction's stability and investor confidence.