After a two-year hiatus, Consumer Portfolio Services has returned to the asset-backed securities market with an $85.4 million transaction sold in a private offering. The deal marked CPS’s first securitization with a senior-subordinate structure in 17 years.
The receivables were originated in 2008. At the time, an institutional investor bought 95% of the notes, while CPS retained the remainder.
Standard & Poor’s rated the transaction.
CPS has $900 million of loans outstanding and does business in 45 states.
The Customer can view all the responses for all the lenders a dealer is associated with at the same time as the dealer views the results. It’s really up to the dealer to share with the Customer we cannot control that. However we believe it is in the best interest of the dealer to share this information.
Customers get a quick view of how the Lenders are viewing thier loan application. I believe it makes closing easier.
Bill