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During 2000, the Company's Board of Directors authorized the Company to purchase up to $5 million of Company securities. In October 2002, the Board of Directors authorized the purchase of an additional $5 million of outstanding debt or equity securities. In October 2004, the Board of Directors authorized the purchase of an additional $5.0 million of outstanding debt or equity securities. As of December 31, 2007, the Company had purchased $5.0 million in principal amount of the debt securities, and $21.5 million of its common stock, representing 5,417,592 shares. Any such future purchases would depend on the facts available at the time. As a result, we cannot give any useful guidance about possible future purchases. However, the Company will continue to evaluate opportunities to purchase stock, and make such purchases as circumstances allow.

As part of its employee long-term incentive plan, first implemented in 1991, the Company awards stock options from time to time. The number of shares outstanding increases as these options are exercised.

CPS is followed by Kirk Ludtke of CRT Capital Group LLC. CPS management it also currently in discussions with additional brokerage research analyst to initiate and broaden coverage.  Please see Analyst Coverage.

In order to obtain market interest in the Company's common stock, CPS participates in discussions with the industry, general press and Wall Street participants, and attends industry conferences and seminars. Management of the Company continues to present at equity conferences and plans to continue such efforts. In addition, management is currently in discussions with additional brokerage research analysts to broaden coverage. The Company, however, is limited by strict Securities and Exchange Commission rules and regulations as to what we can say or do. The Company will continue to issue press releases and hold conference calls as circumstances dictate, and will make every effort to maximize shareholder value through the operation of the Company and our investor relations efforts.

As of June 30, 2012, CPS has two committed senior warehouse facilities with a total warehouse capacity of $200 million.

Certain portfolio performance information, including average annual net losses, delinquencies and static pool net losses, can be found in the Company Summary presentation on the Investors Communications page of the website. Quarterly and year end delinquency and net loss information is available in the Company's Quarterly Reports and Annual Report on Form 10-Q and Form 10-K, respectively, filed with the Securities and Exchange Commission.

We found that new bankruptcy filings in 2006 were less than half of historical levels as a percentage of the portfolio. We feel that the change in law has accelerated the timing of losses slightly. Customers that are not able to file are being charged off sooner. However, it is still too early to conclude what kind of lifetime net loss impact this will have. At this time, we feel it will not be significant.

CPS is primarily an indirect auto finance company and rarely lends money directly to consumers. Generally, we purchase automobile contracts from dealers under several different financing programs.

Consumer Portfolio Services, Inc. reviews questions as received, and posts information to the Q&A section of the Website when it believes such information will provide value to interested parties and is appropriate for posting pursuant to the requirements of the Securities and Exchange Commission. The Company reviews the information posted on the Q&A portion of the website regularly, as well as all questions received.

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