First Investors Financial Services Inc., through its wholly-owned subsidiaries ("First Investors"), is an automobile finance company founded
in 1988 to serve the special finance needs of automobile dealers and consumers.
First Investors has created a unique business model that encompasses Indirect and Direct Lending as well as portfolio acquisitions and
third-party servicing. This multi-channel approach provides asset and revenue diversification as well as a deep understanding of the auto
financing needs of both dealers and customers.
The Company's Indirect Lending business primarily serves franchise automobile dealerships, offering a wide range of financing
programs who generally target consumers with credit scores of 510 and greater, including a strong emphasis on consumers who have gone
through a bankruptcy process. In addition, the Company places a strong emphasis on high levels of service to its dealer clients as well as
stability in its funding process.
First Investors' Direct Lending business, established in 1996, targets qualifying consumers with pre-approved offers of credit using a direct mail
platform. This business segment offers the opportunity for selected consumers to refinance their existing auto loan to realize potentially
significant rate savings compared to their existing loan. The Company identifies potential customers utilizing its empirical custom scorecards
and response models.
The portfolio acquisition segment, established in 1992, targets performing, non-performing and/or automobile charge-off portfolios. First Investors
primarily targets portfolios in the non-prime and subprime credit segments though it has experience in acquiring a broad credit mix of assets.
First Investors has completed eight portfolio acquisitions either solely or in partnership with financial buyers.
The third-party servicing business, launched by the Company in 1992, provides banks, credit unions, finance companies, portfolios buyers and
portfolio lenders with loan servicing and collections expertise for performing, non-performing and charge-off portfolios in credit niches ranging
from prime to deep subprime. First Investors has a demonstrated track record of achieving superior performance results and has closed eight
third-party servicing arrangements.
First Investors conducts its loan servicing and collection activities through its wholly-owned subsidiary, First Investors Servicing Corporation
("FISC"). FISC not only provides loan servicing and collections services to First Investors and its other subsidiaries, but also to unaffiliated
creditors. FISC is headquartered in Atlanta, Georgia and is authorized to service accounts in all 50 states and the District of Columbia.