Consumer Portfolio Services (CPS) announced its $100 million two-year warehouse credit line with UBS Real Estate Securities.
"This transaction brings our total warehouse capacity to $200 million," said Charles Bradley, Jr., president and CEO.
With the firm's expected return to the term ABS market in the next few months, it is "well positioned to meet our contract funding needs," Bradley added.
The loans underlying the facility will be backed by automobile receivables that CPS currently holds or will buy from dealers. The facility revolves during the first year and amortizes in the second year.