How Consumer Portfolio Services Make Lending Easier
Consumer Portfolio Services (CPS) offers a variety of services for financial institutions and retail lenders that is designed to make the loan process easier, faster, and more efficient. CPS specializes in providing debt consolidation loans, lease-to-own, and other consumer finance solutions. From providing end-to-end credit origination and underwriting support to offering competitive terms and rates for borrowers, CPS can help retailers and lenders access potential customers in an otherwise difficult funding market.
What Does CPS Offer?
CPS offers a range of services catered towards helping financial institutions, auto dealerships, retail lenders, and alternative financing sources find solutions with less time and effort. CPS provides credit origination, underwriting, customer service, collections, and portfolio management services.
For lenders and retailers, they provide access to their network of potential borrowers including those with poor or limited credit histories. This provides a greater opportunity to convert leads into sales as well as to extend credit offers to customers who may not have otherwise been eligible for a loan or other financing option.
How Does CPS Make Lending Easier?
CPS makes lending easier by streamlining the entire credit application and underwriting process. In addition to helping lenders better qualify leads, CPS also helps to expedite the loan application and approval process. Their automated decisioning systems can quickly determine if a borrower is eligible for a loan or not, thus reducing the need for manual review and speeding up the process significantly.
CPS also offers a variety of other services designed to make lending easier, such as collections and portfolio management. They can help lenders manage delinquencies and collections activity, ensuring that overdue payments are tracked and collected efficiently. Additionally, their portfolio management services give lenders the ability to track performance and measure the success of their loan programs.
What Are The Benefits Of Working With CPS?
The main benefit of working with CPS is that they offer a comprehensive suite of services designed to make lending easier and more efficient. This means that lenders and retailers can focus on what matters most – originating loans and closing deals – without having to worry about the time consuming administrative processes associated with loan origination and underwriting.
CPS also offers competitive terms and rates that are tailored to individual lenders’ needs. This ensures that lenders are able to maximize profitability while extending credit offers to customers that may not have otherwise been eligible.
Conclusion
Consumer Portfolio Services can help lenders and retailers access more potential customers by streamlining the loan and underwriting process. By eliminating the need for manual review and offering competitive terms and rates, CPS can help lenders reduce costs, increase profitability, and close more deals.
Consumer Portfolio Services, Inc. is a publicly traded company that specializes in portfolios primarily composed of subprime and non-prime consumer loans. CPS is a direct consumer lender that helps people obtain loans for purchasing cars and various other consumer goods. CPS offers several services to help lenders and other financial institutions manage their consumer portfolios, including loan servicing, securitization, and portfolio acquisition. They also provide restructuring and debt collection services as well as consulting, analytics, and data solutions. CPS works with individual customers, manufacturers, and dealers to provide an innovative selection of financing options for various consumer items. Additionally, they offer government financing programs to eligible customers. Through their well-developed platform, CPS serves to make credit more widely available to consumers across the nation. Their partnerships with leading automotive, home-improvement, and RV dealers bring consumers the best financing services regardless of credit type.