CONSUMER PORTFOLIO SERVICES, INC.

Consumer Portfolio Services, Inc. operates as a specialized finance company focused on the automotive lending and servicing sector. The company originates, purchases, and services automobile receivables through its subsidiary Page Nine Funding LLC, which serves as the borrower under the credit facility described in this omnibus amendment dated April 30, 2025.

The company's core business involves acquiring and managing consumer automobile installment sale contracts and promissory notes secured by vehicles. CPS functions as both an originator and servicer of these receivables, working with a network of dealers and consumer lenders to source loans. The company maintains sophisticated underwriting policies across multiple program tiers including Preferred, Super Alpha, Alpha Plus, Alpha, Standard, Mercury/Delta, First Time Buyer, and Meta programs, each targeting different credit quality segments of the consumer automotive market.

The receivables portfolio is managed through a securitization structure utilizing a $200 million revolving credit facility. This facility, administered by Ares Agent Services, L.P., provides liquidity for the company's lending operations. The credit agreement incorporates detailed provisions for borrowing base calculations, performance triggers, and collateral management, reflecting the structured finance nature of the business model.

CPS employs sophisticated servicing infrastructure including electronic vault systems and collateral control agreements to manage the underlying vehicle contracts. The company works with custodians and backup servicers to ensure operational continuity and compliance with credit facility requirements. The receivables are tracked through detailed reporting mechanisms that monitor delinquency rates, charge-offs, and loss performance across vintage pools of originated loans.

The company's competitive positioning derives from its specialized expertise in automotive receivables origination and servicing, its established relationships with dealer networks and consumer lenders, and its ability to access capital markets through structured securitization vehicles. The business model generates revenue through servicing fees, interest income on receivables, and ancillary charges including late fees and other collections on the underlying consumer loans.