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CPSS vs FOA

Consumer Portfolio Services and Finance of America Companies Inc.

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Consumer Portfolio Services

Consumer Portfolio Services, Inc. operates as a specialty finance company in the United States. It is involved in the purchase and service of retail automobile contracts originated by franchised automobile dealers and select independent dealers in the sale of new and used automobiles, light trucks, and passenger vans. The company, through its automobile contract purchases, offers indirect financing to the customers of dealers with limited credit histories or past credit problems. It also serves as an alternative source of financing for dealers, facilitating sales to customers who are not able to obtain financing from commercial banks, credit unions, and the captive finance companies. In addition, the company acquires installment purchase contracts in merger and acquisition transactions; and purchases immaterial amounts of vehicle purchase money loans from non-affiliated lenders. It services its automobile contracts through its branches in California, Nevada, Virginia, Florida, and Illinois. The company was incorporated in 1991 and is based in Las Vegas, Nevada.

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Finance of America Companies Inc.

Finance of America Companies Inc. a financial service holding company, through its subsidiaries, provides home equity-based financing solutions for a modern retirement in the United States. It operates through two segments: Retirement Solutions and Portfolio Management. The company offers home equity conversion and non-agency reverse mortgage loans, product development, loan securitization, loan sales, risk management, servicing oversight, and asset management services. The company was founded in 2013 and is headquartered in Plano, Texas.

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