SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported) October 15, 1998 CONSUMER PORTFOLIO SERVICES, INC. (Exact Name of Registrant as Specified in its Charter) California (State or Other Jurisdiction of Incorporation) 333-09343 333-26355 333-25301 333-1548 333-49945 33-0459135 (Commission File Number) (I.R.S. Employer Identification No.) 2 Ada, Irvine, California 92618 (Address of Principal Executive Offices) (Zip Code) (949) 753-6800 (Registrant's Telephone Number, Including Area Code) Not Applicable (Former Name or Former Address, if Changed Since Last Report) Item 5. Other Events. None Item 7. Financial Statements and Exhibits. (c) Exhibits. Exhibit No. Document Description 20.28 Monthly Servicing Report for the September 1998 collection period for FASCO Auto Trust 1996-1, CPS Auto Grantor Trust 1996-2, CPS Auto Grantor Trust 1996-3, CPS Auto Grantor Trust 1997-1, CPS Auto Grantor Trust 1997-2, CPS Auto Receivables Trust 1997-3, CPS Auto Receivables Trust 1997-4, CPS Auto Receivables Trust 1997-5, CPS Grantor Trust 1998-1, CPS Auto Grantor Trust 1998-2 and CPS Auto Receivables Trust 1998-3. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CONSUMER PORTFOLIO SERVICES, INC. (Registrant) Dated: October 30, 1998 By: /s/ Jeffrey P. Fritz Name: Jeffrey P. Fritz Title: Chief Financial Officer INDEX TO EXHIBITS Exhibit Sequential No. Document Description Page No. 20.28 Monthly Servicing Report for the September 1998 collection period for FASCO Auto Trust 1996-1, CPS Auto Grantor Trust 1996-2, CPS Auto Grantor Trust 1996-3, CPS Auto Grantor Trust 1997-1, CPS Auto Grantor Trust 1997-2, CPS Auto Receivables Trust 1997-3, CPS Auto Receivables Trust 1997-4, CPS Auto Receivables Trust 1997-5, CPS Grantor Trust 1998-1, CPS Auto Grantor Trust 1998-2 and CPS Auto Receivables Trust 1998-3.
MONTHLY CERTIFICATEHOLDER STATEMENT FASCO AUTO GRANTOR TRUST 1996-1 6.65% ASSET-BACKED CERTIFICATES Distribution Date 10/15/98 Collection Period 9/98 Under the Pooling and Servicing Agreement dated as of June 28, 1996 (the "Agreement") by and among CPS Receivables Corp., Consumer Portfolio Services, Inc. as Servicer, and Norwest Bank Minnesota, National Association, as Trustee and as Collateral Agent, the Servicer is required to prepare certain information each month regarding current distributions to Certificateholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date and Collection Period listed above is set forth below. Certain of the information is presented on the basis of an original principal amount of $1,000 per Certificate, and certain other information is presented based upon the aggregate amounts for the Trust as a whole.
A. Information Regarding the Current Monthly Distribution: 1 Certificates. (a) The aggregate amount of the distribution to Class A Certificateholders on the Distribution Date set forth above $1,833,416.19 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $171,879.66 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,661,536.53 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $21.71 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $2.04 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $19.67 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $97,576.08 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $13,603.46 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $83,972.62 (j) Scheduled Payments due in such Collection Period $1,452,432.59 (k) Scheduled Payments collected in such Collection Period $1,379,792.11 B. Information Regarding the Performance of the Trust. 1 Pool Balance and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $32,648,292.83 (b) The aggregate balance of the Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c) above $30,902,783.66 (c) The Pool factor as of the close of business on the last day set forth above 0.9465360 2 Servicing Fee and Purchased Receivables. (a) The aggregate amount of the Servicing Fee (exclusive of the Standby Fee paid to the Standby Servicer) paid to the Servicer with respect to the Collection Period set forth above $73,052.47 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,176.55 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.86 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $0.03 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (c) above $0.00 4 Payahead Account. (a) The aggregate Payahead Balance on the prior Distribution Date $21,974.72 (b) Distributions (to) from Collection Account ($2,080.24) for Payaheads (c) Interest earned on Payahead Balances $88.98 (d) Ending Payahead Account Balance $19,983.46 5 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $29,354,341.66 Spread Account Balance $5,278,048.94 (b) The change in the spread account on the Distribution Date set forth above $23,449.35 6 Policy. (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $8,561.68 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $366,450.95 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 135 Aggregate Gross Amount $1,171,000.00 (d) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent 60 days or more Number 91 Aggregate Gross Amount $846,000.00 8 Performance Triggers. (a) Delinquency Ratio 5.84% (b) Average Delinquency Ratio 5.64% (c) Cumulative Default Ratio 17.59% (d) Cumulative Net Loss Ratio 13.07% (e) Is a Portfolio Performance Test violation continuing? Yes (f) Has an Insurance Agreement Event of Default occurred? Yes
FASCO AUTO GRANTOR TRUST 1996-1 STATEMENT TO CERTIFICATEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 2,039,405.00 LOCK BOX NSF ITEMS: (33,359.20) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 2,080.24 COLLECTION ACCOUNT INTEREST 7,596.65 PAYAHEAD ACCOUNT INTEREST 88.98 TOTAL COLLECTION PROCEEDS: 2,015,811.67 FOR DISTRIBUTION DATE: 10/15/98 FOR DETERMINATION DATE: 10/7/98 FOR COLLECTION PERIOD: 9/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 32,648,292.83 Principal portion of payments collected (non-prepayments) 823,083.15 Prepayments in full allocable to principal 433,065.00 Collections allocable to principal 1,256,148.15 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 126,386.72 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,382,534.87 Realized Losses 366,450.95 Cram Down Losses 0.00 Ending Principal Balance 30,899,307.01 INTEREST Collections allocable to interest 556,708.96 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 76,567.84 --------------- Total Interest 633,276.80 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 31,015,878.19 Beginning of Period Class B Principal Balance 1,632,414.62 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 5,254,599.59 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 18,638.65 Aggregate Payahead Balance 19,894.48 Aggregate Payahead Balance for preceding Distribution Date 21,974.72 Interest Earned on Payahead Balances 88.98 Scheduled Payments due in Collection Period 1,452,432.59 Scheduled Payments collected in Collection Period 1,379,792.11 Aggregate Amount of Realized Losses for preceding Distribution Date 366,450.95 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 212.50 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Certificate Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 135 1,171,000.00 60+ days delinquent 91 846,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 0 0.00 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close 2,017,000.00 of business on the last day of the related Collection Period. Principal Balance of all Receivables that became Purchased Receivables as of 0.00 the close of business on the last day of the related Collection Period and that were delinquent 30 days or more. Principal Balance of all Receivables that became Defaulted Receivables 240,064.79 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 5.51% Delinquency Ratio for third preceding Determination Date 5.56% Cumulative Defaults for preceding Determination Date 15,400,680.25 Cumulative Net Losses for preceding Determination Date 11,333,569.42 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y-WAIVED CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 1,812,857.11 Liquidation Proceeds 126,386.72 Recoveries 76,567.84 Purchase Amounts 0.00 Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 0.00 Investment earnings from Payahead Account 0.00 --------------- TOTAL DISTRIBUTION AMOUNT 2,015,811.67 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 823,083.15 Prepayments in full allocable to principal 433,065.00 Principal Balance of Liquidated Receivables 492,837.67 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 1,748,985.82 Class A Principal Distributable Amount Principal Distributable Amount 1,748,985.82 Times Class A Percentage (95%) 95% --------------- 1,661,536.53 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,661,536.53 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 31,015,878.19 Multiplied by Certificate Pass-Through Rate 6.65% Multiplied by 30/360, or for the first Distribution Date, by 27/360 0.0833333 --------------- Class A Interest Distributable Amount 171,879.66 Class B Principal Distributable Amount Principal Distributable Amount 1,748,985.82 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 87,449.29 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 1,632,414.62 Multiplied by Certificate Pass-Through Rate 10.00% Multiplied by 30/360, or for the first Distribution Date, by 27/360 0.0833333 --------------- Class B Coupon Interest Amount 13,603.46 Class B Excess Interest Amount Total Distribution Amount 2,015,811.67 minus Class A Principal and Interest Distributable Amount 1,833,416.19 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 13,603.46 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 87,449.29 Class B Principal Carryover Shortfall 0.00 Trustee distributions 620.60 Standby Servicer distributions 2,176.55 Servicer distributions 73,052.47 Collateral Agent distributions 408.10 Reimbursement Obligations 8,561.68 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A Interest Carryover Shortfall from previous period 0.00 Interest on Class A Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(C) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 2,176.55 Servicing Fee (2.0%) 54,413.82 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 18,638.65 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Trustee Fee 408.10 Trustee's out-of-pocket expenses 212.50 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 408.10 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v) (A) Class A Interest Distributable Amount - Current Month 171,879.66 Prior Month(s) Class A Carryover Shortfall 0.00 Class A Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A Interest Carryover Shortfall 0.00 Class A Interest Distributable Amount 171,879.66 (viii) (A)Class B Coupon Interest - Unadjusted 13,603.46 Class B Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class B Interest Shortfall 0.00 Adjusted Class B Interest Distributable Amount 13,603.46 (v) (B) Class A Principal Distributable Amount - Current Month 1,661,536.53 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount 1,661,536.53 (vi) Certificate Insurer Premium 8,561.68 Certificate Insurer Premium Supplement 0.00 Other Reimbursement Obligations to Certificate Insurer 0.00 (vii) Transition Expenses to successor Servicer 0.00 Class B Principal Distributable Amount - Current Month Unadjusted 87,449.29 Class B Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class B Principal Shortfall (3,476.67) Adjusted Class B Principal Distributable Amount 83,972.62 Excess Interest Amount for Deposit in Spread Account 0.00 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ----------------------------------------------------
CERTIFICATE BALANCE Class A Beginning of Period Principal Balance 31,015,878.19 Class A Principal Distributions 1,661,536.53 Class A End of Period Principal Balance 29,354,341.66 Class B Beginning of Period Principal Balance 1,632,414.62 Class B Principal Distributable Amount 83,972.62 Class B End of Period Principal Balance BEFORE Spread Account Distributions 1,548,442.00 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 1,548,442.00 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,015,811.67 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 248,137.38 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 1,767,674.29 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 1,767,674.29 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 13,603.46 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 1,754,070.83 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 1,754,070.83 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,661,536.53 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 92,534.30 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 92,534.30 (vi) Certificate Insurer Premium 8,561.68 (v) Certificate Insurer Premium Supplement 0.00 Deficiency Amount 0.00 Withdrawal from Spread Account to Cover Deficiency 0.00 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 83,972.62 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 83,972.62 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 87,449.29 (iii)Prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (3,476.67) Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (3,476.67) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 2,017,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 2,017,000.00 Aggregate Gross Principal Balance as of the close of 34,565,042.50 business on the last day of the Collection Period. DELINQUENCY RATIO 5.84% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 5.84% Delinquency Ratio for second preceding Determination Date 5.51% Delinquency Ratio for third preceding Determination Date 5.56% --------------- Average Delinquency Ratio 5.64% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 15,400,680.25 Current Period Defaulted Receivables 240,064.79 --------------- Total 15,640,745.04 Cumulative Defaulted Receivables 15,640,745.04 Original Pool Balance 88,900,750.37 Cumulative Default Ratio 17.59% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 492,837.67 Cram Down Losses 0.00 Net Liquidation Proceeds (202,954.56) --------------- Net Liquidation Losses 289,883.11 Cumulative Previous Net Losses 11,333,569.42 --------------- Cumulative Net Losses 11,623,452.53 Original Pool Balance 88,900,750.37 Cumulative Net Loss Ratio 13.07% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 54.67 Weighted Average Remaining Term 28.64 Weighted Average Annual Percentage Rate 20.33% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 3,090,278.37 15% of Outstanding Certificate Balance 4,635,417.55 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y-WAIVED --------------- Cap Amount 29,354,341.66 Spread Account Floor 3% of the Initial Certificate Balance 2,667,022.51 Outstanding Certificate Balance 30,902,783.66 Minimum Floor 100,000.00 --------------- Floor Amount 2,667,022.51 Required Spread Account Amount 29,354,341.66 Beginning of Period Spread Account Balance 5,254,599.59 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 24,099,742.07 Earnings on Spread Account Balance 23,449.35 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 5,278,048.94 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1996-2 6.70% ASSET-BACKED CERTIFICATES Distribution Date 10/15/98 Collection Period 9/98 Under the Pooling and Servicing Agreement dated as of September 19, 1996 (the "Agreement") by and among CPS Receivables Corp., Consumer Portfolio Services, Inc. as Servicer, and Norwest Bank Minnesota, National Association, as Trustee and as Collateral Agent, the Servicer is required to prepare certain information each month regarding current distributions to Certificateholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date and Collection Period listed above is set forth below. Certain of the information is presented on the basis of an original principal amount of $1,000 per Certificate, and certain other information is presented based upon the aggregate amounts for the Trust as a whole.
A. Information Regarding the Current Monthly Distribution: 1 Certificates. (a) The aggregate amount of the distribution to Class A Certificateholders on the Distribution Date set forth above $2,079,167.95 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $214,762.39 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,864,405.56 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $23.76 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $2.45 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $21.30 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $87,940.49 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $22,554.80 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $65,385.69 (j) Scheduled Payments due in such Collection Period $1,620,956.10 (k) Scheduled Payments collected in such Collection Period $1,538,700.45 B. Information Regarding the Performance of the Trust. 1 Pool Balance and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $40,489,374.45 (b) The aggregate balance of the Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c) above $38,930,314.10 (c) The Pool factor as of the close of business on the last day set forth above 0.9614946 2 Servicing Fee and Purchased Receivables. (a) The aggregate amount of the Servicing Fee (exclusive of the Standby Fee paid to the Standby Servicer) paid to the Servicer with respect to the Collection Period set forth above $82,954.35 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,699.29 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.95 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $0.03 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (c) above $0.00 4 Payahead Account. (a) The aggregate Payahead Balance on the prior Distribution Date $27,762.40 (b) Distributions (to) from Collection Account ($1,489.96) for Payaheads (c) Interest earned on Payahead Balances $113.10 (d) Ending Payahead Account Balance $26,385.54 5 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $36,600,500.14 Spread Account Balance $4,748,359.17 (b) The change in the spread account on the Distribution Date set forth above $21,334.09 6 Policy. (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $10,675.15 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $507,869.72 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 166 Aggregate Gross Amount $1,645,000.00 (d) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent 60 days or more Number 112 Aggregate Gross Amount $1,296,000.00 8 Performance Triggers. (a) Delinquency Ratio 6.73% (b) Average Delinquency Ratio 6.09% (c) Cumulative Default Ratio 16.57% (d) Cumulative Net Loss Ratio 12.10% (e) Is a Portfolio Performance Test violation continuing? Yes (f) Has an Insurance Agreement Event of Default occurred? No(a)
CPS AUTO GRANTOR TRUST 1996-2 STATEMENT TO CERTIFICATEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 2,282,333.68 LOCK BOX NSF ITEMS: (28,188.66) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 1,489.96 COLLECTION ACCOUNT INTEREST 8,993.85 PAYAHEAD ACCOUNT INTEREST 113.10 TOTAL COLLECTION PROCEEDS: 2,264,741.93 FOR DISTRIBUTION DATE: 10/15/98 FOR DETERMINATION DATE: 10/7/98 FOR COLLECTION PERIOD: 9/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 40,489,374.45 Principal portion of payments collected (non-prepayments) 781,920.69 Prepayments in full allocable to principal 455,620.00 Collections allocable to principal 1,237,540.69 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 217,121.76 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,454,662.45 Realized Losses 507,869.72 Cram Down Losses 0.00 Ending Principal Balance 38,526,842.28 INTEREST Collections allocable to interest 756,779.76 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 53,299.72 --------------- Total Interest 810,079.48 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 38,464,905.70 Beginning of Period Class B Principal Balance 2,395,199.65 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 4,727,025.08 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 15,472.06 Aggregate Payahead Balance 26,272.44 Aggregate Payahead Balance for preceding Distribution Date 27,762.40 Interest Earned on Payahead Balances 113.10 Scheduled Payments due in Collection Period 1,620,956.10 Scheduled Payments collected in Collection Period 1,538,700.45 Aggregate Amount of Realized Losses for preceding Distribution Date 507,869.72 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 287.83 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Certificate Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 166 1,645,000.00 60+ days delinquent 112 1,296,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 0 0.00 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close 2,941,000.00 of business on the last day of the related Collection Period. Principal Balance of all Receivables that became Purchased Receivables as of 0.00 the close of business on the last day of the related Collection Period and that were delinquent 30 days or more. Principal Balance of all Receivables that became Defaulted Receivables 322,570.64 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 5.96% Delinquency Ratio for third preceding Determination Date 5.57% Cumulative Defaults for preceding Determination Date 14,945,485.78 Cumulative Net Losses for preceding Determination Date 10,692,955.02 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 1,994,320.45 Liquidation Proceeds 217,121.76 Recoveries 53,299.72 Purchase Amounts 0.00 Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 0.00 Investment earnings from Payahead Account 0.00 --------------- TOTAL DISTRIBUTION AMOUNT 2,264,741.93 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 781,920.69 Prepayments in full allocable to principal 455,620.00 Principal Balance of Liquidated Receivables 724,991.48 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 1,962,532.17 Class A Principal Distributable Amount Principal Distributable Amount 1,962,532.17 Times Class A Percentage (95%) 95% --------------- 1,864,405.56 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,864,405.56 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 38,464,905.70 Multiplied by Certificate Pass-Through Rate 6.70% Multiplied by 30/360, or for the first Distribution Date, by 27/360 0.0833333 --------------- Class A Interest Distributable Amount 214,762.39 Class B Principal Distributable Amount Principal Distributable Amount 1,962,532.17 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 98,126.61 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 2,395,199.65 Multiplied by Certificate Pass-Through Rate 11.30% Multiplied by 30/360, or for the first Distribution Date, by 27/360 0.0833333 --------------- Class B Coupon Interest Amount 22,554.80 Class B Excess Interest Amount Total Distribution Amount 2,264,741.93 minus Class A Principal and Interest Distributable Amount 2,079,167.95 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 22,554.80 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 98,126.61 Class B Principal Carryover Shortfall 370,730.93 Trustee distributions 793.95 Standby Servicer distributions 2,699.29 Servicer distributions 82,954.35 Collateral Agent distributions 510.75 Reimbursement Obligations 10,675.15 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 370,730.93 --------------- 370,730.93 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A Interest Carryover Shortfall from previous period 0.00 Interest on Class A Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(C) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 2,699.29 Servicing Fee (2.0%) 67,482.29 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 15,472.06 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Trustee Fee 506.12 Trustee's out-of-pocket expenses 287.83 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 510.75 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v)(A) Class A Interest Distributable Amount - Current Month 214,762.39 Prior Month(s) Class A Carryover Shortfall 0.00 Class A Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A Interest Carryover Shortfall 0.00 Class A Interest Distributable Amount 214,762.39 (viii)(A) Class B Coupon Interest - Unadjusted 22,554.80 Class B Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class B Interest Shortfall 0.00 Adjusted Class B Interest Distributable Amount 22,554.80 (v) (B) Class A Principal Distributable Amount - Current Month 1,864,405.56 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount 1,864,405.56 (vi) Certificate Insurer Premium 10,675.15 Certificate Insurer Premium Supplement 0.00 Other Reimbursement Obligations to Certificate Insurer 0.00 (vii) Transition Expenses to successor Servicer 0.00 Class B Principal Distributable Amount - Current Month Unadjusted 98,126.61 Class B Principal Carryover Shortfall - Previous Month(s) 370,730.93 Current Month Class B Principal Shortfall (403,471.85) Adjusted Class B Principal Distributable Amount 65,385.69 Excess Interest Amount for Deposit in Spread Account 0.00 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ---------------------------------------------------- (a) Requisite levels for spread accounts reflect insurance defaults on pools 1995-4, 1996-1, FASCO 1996-1, and 1997-1.
CERTIFICATE BALANCE Class A Beginning of Period Principal Balance 38,464,905.70 Class A Principal Distributions 1,864,405.56 Class A End of Period Principal Balance 36,600,500.14 Class B Beginning of Period Principal Balance 2,395,199.65 Class B Principal Distributable Amount 65,385.69 Class B End of Period Principal Balance BEFORE Spread Account Distributions 2,329,813.96 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 2,329,813.96 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,264,741.93 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 301,720.73 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 1,963,021.20 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 1,963,021.20 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 22,554.80 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 1,940,466.40 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 1,940,466.40 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,864,405.56 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 76,060.84 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 76,060.84 (vi) Certificate Insurer Premium 10,675.15 (v) Certificate Insurer Premium Supplement 0.00 Deficiency Amount 0.00 Withdrawal from Spread Account to Cover Deficiency 0.00 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 65,385.69 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 65,385.69 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 98,126.61 (iii)Prior month(s) carryover shortfalls 370,730.93 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (403,471.85) Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (403,471.85) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 2,941,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 2,941,000.00 Aggregate Gross Principal Balance as of the close of 43,712,936.09 business on the last day of the Collection Period. DELINQUENCY RATIO 6.73% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 6.73% Delinquency Ratio for second preceding Determination Date 5.96% Delinquency Ratio for third preceding Determination Date 5.57% --------------- Average Delinquency Ratio 6.09% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 14,945,485.78 Current Period Defaulted Receivables 322,570.64 --------------- Total 15,268,056.42 Cumulative Defaulted Receivables 15,268,056.42 Original Pool Balance 92,129,299.54 Cumulative Default Ratio 16.57% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 724,991.48 Cram Down Losses 0.00 Net Liquidation Proceeds (270,421.48) --------------- Net Liquidation Losses 454,570.00 Cumulative Previous Net Losses 10,692,955.02 --------------- Cumulative Net Losses 11,147,525.02 Original Pool Balance 92,129,299.54 Cumulative Net Loss Ratio 12.10% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 55.54 Weighted Average Remaining Term 32.39 Weighted Average Annual Percentage Rate 20.45% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 3,893,031.41 15% of Outstanding Certificate Balance 5,839,547.11 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) --------------- Cap Amount 36,600,500.14 Spread Account Floor 3% of the Initial Certificate Balance 2,763,878.99 Outstanding Certificate Balance 38,930,314.10 Minimum Floor 100,000.00 --------------- Floor Amount 2,763,878.99 Required Spread Account Amount 36,600,500.14 Beginning of Period Spread Account Balance 4,727,025.08 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 31,873,475.06 Earnings on Spread Account Balance 21,334.09 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 4,748,359.17 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1996-3 6.30% ASSET-BACKED CERTIFICATES Distribution Date 10/15/98 Collection Period 9/98 Under the Pooling and Servicing Agreement dated as of December 19, 1996 (the "Agreement") by and among CPS Receivables Corp., Consumer Portfolio Services, Inc. as Servicer, and Norwest Bank Minnesota, National Association, as Trustee and as Collateral Agent, the Servicer is required to prepare certain information each month regarding current distributions to Certificateholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date and Collection Period listed above is set forth below. Certain of the information is presented on the basis of an original principal amount of $1,000 per Certificate, and certain other information is presented based upon the aggregate amounts for the Trust as a whole.
A. Information Regarding the Current Monthly Distribution: 1 Certificates. (a) The aggregate amount of the distribution to Class A Certificateholders on the Distribution Date set forth above $2,309,111.87 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $240,571.98 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,068,539.89 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $26.18 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $2.73 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $23.45 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $24,063.93 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $23,268.43 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $795.50 (j) Scheduled Payments due in such Collection Period $1,791,692.74 (k) Scheduled Payments collected in such Collection Period $1,565,532.05 B. Information Regarding the Performance of the Trust. 1 Pool Balance and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $48,234,983.94 (b) The aggregate balance of the Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c) above $46,504,846.65 (c) The Pool factor as of the close of business on the last day set forth above 0.9641311 2 Servicing Fee and Purchased Receivables. (a) The aggregate amount of the Servicing Fee (exclusive of the Standby Fee paid to the Standby Servicer) paid to the Servicer with respect to the Collection Period set forth above $96,696.58 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,215.67 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.10 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $0.04 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (c) above $0.00 4 Payahead Account. (a) The aggregate Payahead Balance on the prior Distribution Date $23,134.31 (b) Distributions (to) from Collection Account ($1,550.43) for Payaheads (c) Interest earned on Payahead Balances $96.66 (d) Ending Payahead Account Balance $21,680.54 5 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $13,126,408.45 Spread Account Balance $6,029,271.07 (b) The change in the spread account on the Distribution Date set forth above $26,978.96 6 Policy. (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $12,761.79 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $643,443.15 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 158 Aggregate Gross Amount $1,754,000.00 (d) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent 60 days or more Number 156 Aggregate Gross Amount $1,706,000.00 8 Performance Triggers. (a) Delinquency Ratio 6.55% (b) Average Delinquency Ratio 6.36% (c) Cumulative Default Ratio 14.44% (d) Cumulative Net Loss Ratio 11.09% (e) Is a Portfolio Performance Test violation continuing? Yes (f) Has an Insurance Agreement Event of Default occurred? No(a)
CPS AUTO GRANTOR TRUST 1996-3 STATEMENT TO CERTIFICATEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 2,483,207.95 LOCK BOX NSF ITEMS: (47,336.53) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 1,550.43 COLLECTION ACCOUNT INTEREST 9,906.90 PAYAHEAD ACCOUNT INTEREST 96.66 TOTAL COLLECTION PROCEEDS: 2,447,425.41 FOR DISTRIBUTION DATE: 10/15/98 FOR DETERMINATION DATE: 10/7/98 FOR COLLECTION PERIOD: 9/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 48,234,983.94 Principal portion of payments collected (non-prepayments) 727,570.87 Prepayments in full allocable to principal 492,652.00 Collections allocable to principal 1,220,222.87 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 313,744.39 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,533,967.26 Realized Losses 643,443.15 Cram Down Losses 0.00 Ending Principal Balance 46,057,573.53 INTEREST Collections allocable to interest 837,961.18 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 75,496.97 --------------- Total Interest 913,458.15 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 45,823,234.71 Beginning of Period Class B Principal Balance 2,750,947.33 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 6,002,292.11 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 16,304.94 Aggregate Payahead Balance 21,583.88 Aggregate Payahead Balance for preceding Distribution Date 23,134.31 Interest Earned on Payahead Balances 96.66 Scheduled Payments due in Collection Period 1,791,692.74 Scheduled Payments collected in Collection Period 1,565,532.05 Aggregate Amount of Realized Losses for preceding Distribution Date 643,443.15 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 365.45 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Certificate Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 158 1,754,000.00 60+ days delinquent 156 1,706,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 0 0.00 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close 3,460,000.00 of business on the last day of the related Collection Period. Principal Balance of all Receivables that became Purchased Receivables as of 0.00 the close of business on the last day of the related Collection Period and that were delinquent 30 days or more. Principal Balance of all Receivables that became Defaulted Receivables 402,633.40 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 6.08% Delinquency Ratio for third preceding Determination Date 6.44% Cumulative Defaults for preceding Determination Date 13,006,620.99 Cumulative Net Losses for preceding Determination Date 9,734,598.06 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 2,058,184.05 Liquidation Proceeds 313,744.39 Recoveries 75,496.97 Purchase Amounts 0.00 Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 0.00 Investment earnings from Payahead Account 0.00 --------------- TOTAL DISTRIBUTION AMOUNT 2,447,425.41 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 727,570.87 Prepayments in full allocable to principal 492,652.00 Principal Balance of Liquidated Receivables 957,187.54 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,177,410.41 Class A Principal Distributable Amount Principal Distributable Amount 2,177,410.41 Times Class A Percentage (95%) 95% --------------- 2,068,539.89 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,068,539.89 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 45,823,234.71 Multiplied by Certificate Pass-Through Rate 6.30% Multiplied by 30/360, or for the first Distribution Date, by 27/360 0.0833333 --------------- Class A Interest Distributable Amount 240,571.98 Class B Principal Distributable Amount Principal Distributable Amount 2,177,410.41 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 108,870.52 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 2,750,947.33 Multiplied by Certificate Pass-Through Rate 10.15% Multiplied by 30/360, or for the first Distribution Date, by 27/360 0.0833333 --------------- Class B Coupon Interest Amount 23,268.43 Class B Excess Interest Amount Total Distribution Amount 2,447,425.41 minus Class A Principal and Interest Distributable Amount 2,309,111.87 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 23,268.43 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 108,870.52 Class B Principal Carryover Shortfall 339,198.12 Trustee distributions 968.39 Standby Servicer distributions 3,215.67 Servicer distributions 96,696.58 Collateral Agent distributions 607.18 Reimbursement Obligations 12,761.79 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 339,198.12 --------------- 339,198.12 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A Interest Carryover Shortfall from previous period 0.00 Interest on Class A Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(C) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 3,215.67 Servicing Fee (2.0%) 80,391.64 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 16,304.94 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Trustee Fee 602.94 Trustee's out-of-pocket expenses 365.45 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 607.18 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v)(A) Class A Interest Distributable Amount - Current Month 240,571.98 Prior Month(s) Class A Carryover Shortfall 0.00 Class A Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A Interest Carryover Shortfall 0.00 Class A Interest Distributable Amount 240,571.98 (viii)(A) Class B Coupon Interest - Unadjusted 23,268.43 Class B Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class B Interest Shortfall 0.00 Adjusted Class B Interest Distributable Amount 23,268.43 (v)(B) Class A Principal Distributable Amount - Current Month 2,068,539.89 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount 2,068,539.89 (vi) Certificate Insurer Premium 12,761.79 Certificate Insurer Premium Supplement 0.00 Other Reimbursement Obligations to Certificate Insurer 0.00 (vii) Transition Expenses to successor Servicer 0.00 Class B Principal Distributable Amount - Current Month Unadjusted 108,870.52 Class B Principal Carryover Shortfall - Previous Month(s) 339,198.12 Current Month Class B Principal Shortfall (447,273.14) Adjusted Class B Principal Distributable Amount 795.50 Excess Interest Amount for Deposit in Spread Account 0.00 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ---------------------------------------------------- (a) Requisite levels for spread accounts reflect insurance defaults on pools 1995-4, 1996-1, FASCO 1996-1, and 1997-1.
CERTIFICATE BALANCE Class A Beginning of Period Principal Balance 45,823,234.71 Class A Principal Distributions 2,068,539.89 Class A End of Period Principal Balance 43,754,694.82 Class B Beginning of Period Principal Balance 2,750,947.33 Class B Principal Distributable Amount 795.50 Class B End of Period Principal Balance BEFORE Spread Account Distributions 2,750,151.83 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 2,750,151.83 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,447,425.41 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 342,059.80 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,105,365.61 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 2,105,365.61 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 23,268.43 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 2,082,097.18 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 2,082,097.18 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,068,539.89 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 13,557.29 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 13,557.29 (vi) Certificate Insurer Premium 12,761.79 (v) Certificate Insurer Premium Supplement 0.00 Deficiency Amount 0.00 Withdrawal from Spread Account to Cover Deficiency 0.00 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 795.50 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 795.50 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 108,870.52 (iii)Prior month(s) carryover shortfalls 339,198.12 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (447,273.14) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (447,273.14) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 3,460,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 3,460,000.00 Aggregate Gross Principal Balance as of the close of 52,850,419.34 business on the last day of the Collection Period. DELINQUENCY RATIO 6.55% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 6.55% Delinquency Ratio for second preceding Determination Date 6.08% Delinquency Ratio for third preceding Determination Date 6.44% --------------- Average Delinquency Ratio 6.36% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 13,006,620.99 Current Period Defaulted Receivables 402,633.40 --------------- Total 13,409,254.39 Cumulative Defaulted Receivables 13,409,254.39 Original Pool Balance 92,857,811.12 Cumulative Default Ratio 14.44% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 957,187.54 Cram Down Losses 0.00 Net Liquidation Proceeds (389,241.36) --------------- Net Liquidation Losses 567,946.18 Cumulative Previous Net Losses 9,734,598.06 --------------- Cumulative Net Losses 10,302,544.24 Original Pool Balance 92,857,811.12 Cumulative Net Loss Ratio 11.09% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.03 Weighted Average Remaining Term 35.56 Weighted Average Annual Percentage Rate 20.48% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 4,650,484.66 15% of Outstanding Certificate Balance 6,975,727.00 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) --------------- Cap Amount 13,126,408.45 Spread Account Floor 3% of the Initial Certificate Balance 2,785,734.33 Outstanding Certificate Balance 46,504,846.65 Minimum Floor 100,000.00 --------------- Floor Amount 2,785,734.33 Required Spread Account Amount 13,126,408.45 Beginning of Period Spread Account Balance 6,002,292.11 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 7,124,116.34 Earnings on Spread Account Balance 26,978.96 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 6,029,271.07 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1997-1 6.55% ASSET-BACKED CERTIFICATES Distribution Date 10/15/98 Collection Period 9/98 Under the Pooling and Servicing Agreement dated as of March 17, 1997 (the "Agreement") by and among CPS Receivables Corp., Consumer Portfolio Services, Inc. as Servicer, and Norwest Bank Minnesota, National Association, as Trustee and as Collateral Agent, the Servicer is required to prepare certain information each month regarding current distributions to Certificateholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date and Collection Period listed above is set forth below. Certain of the information is presented on the basis of an original principal amount of $1,000 per Certificate, and certain other information is presented based upon the aggregate amounts for the Trust as a whole.
A. Information Regarding the Current Monthly Distribution: 1 Certificates. (a) The aggregate amount of the distribution to Class A Certificateholders on the Distribution Date set forth above $2,632,642.53 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $308,792.56 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,323,849.97 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $27.08 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $3.18 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $23.91 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $126,351.07 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $33,162.90 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $93,188.17 (j) Scheduled Payments due in such Collection Period $2,089,088.69 (k) Scheduled Payments collected in such Collection Period $1,909,523.81 B. Information Regarding the Performance of the Trust. 1 Pool Balance and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $59,550,191.43 (b) The aggregate balance of the Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c) above $57,568,634.77 (c) The Pool factor as of the close of business on the last day set forth above 0.9667246 2 Servicing Fee and Purchased Receivables. (a) The aggregate amount of the Servicing Fee (exclusive of the Standby Fee paid to the Standby Servicer) paid to the Servicer with respect to the Collection Period set forth above $116,228.10 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,970.01 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.20 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $0.04 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (c) above $0.00 4 Payahead Account. (a) The aggregate Payahead Balance on the prior Distribution Date $29,702.99 (b) Distributions (to) from Collection Account ($5,249.15) for Payaheads (c) Interest earned on Payahead Balances $326.72 (d) Ending Payahead Account Balance $24,780.56 5 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $16,274,649.56 Spread Account Balance $7,130,511.78 (b) The change in the spread account on the Distribution Date set forth above $32,560.58 6 Policy (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $15,822.58 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $625,194.42 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 206 Aggregate Gross Amount $2,404,000.00 (d) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent 60 days or more Number 178 Aggregate Gross Amount $2,067,000.00 8 Performance Triggers. (a) Delinquency Ratio 6.82% (b) Average Delinquency Ratio 6.82% (c) Cumulative Default Ratio 14.04% (d) Cumulative Net Loss Ratio 10.52% (e) Is a Portfolio Performance Test violation continuing? Yes (f) Has an Insurance Agreement Event of Default occurred? Yes
CPS AUTO GRANTOR TRUST 1997-1 STATEMENT TO CERTIFICATEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS Gross Collection Proceeds: 2,929,215.93 Lock Box NSF Items: (48,907.87) Transfers from (to) Payahead Account: 5,249.15 Collection Account Interest 11,056.75 Payahead Account Interest 326.72 Total Collection Proceeds: 2,896,940.68 For Distribution Date: 10/15/98 For Determination Date: 10/7/98 For Collection Period: 9/98 COLLATERAL ACTIVITY INFORMATION Principal Beginning Principal Balance 59,550,191.43 Principal portion of payments collected (non-prepayments) 940,820.18 Prepayments in full allocable to principal 614,845.00 Collections allocable to principal 1,555,665.18 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 265,298.26 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,820,963.44 Realized Losses 625,194.42 Cram Down Losses 0.00 Ending Principal Balance 57,104,033.57 INTEREST Collections allocable to interest 968,703.63 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 107,273.61 --------------- Total Interest 1,075,977.24 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 56,572,681.85 Beginning of Period Class B Principal Balance 3,412,991.05 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 7,097,951.20 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 16,977.78 Aggregate Payahead Balance 24,453.84 Aggregate Payahead Balance for preceding Distribution Date 29,702.99 Interest Earned on Payahead Balances 326.72 Scheduled Payments due in Collection Period 2,089,088.69 Scheduled Payments collected in Collection Period 1,909,523.81 Aggregate Amount of Realized Losses for preceding Distribution Date 625,194.42 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 432.20 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Certificate Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 206 2,404,000.00 60+ days delinquent 178 2,067,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 0 0.00 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close of business on the last day of the related Collection Period. 4,471,000.00 Principal Balance of all Receivables that became Purchased Receivables as of the close of business on the last day of the related Collection Period and that were delinquent 30 days or more. 0.00 Principal Balance of all Receivables that became Defaulted Receivables during the related Collection Period. 586,967.14 Delinquency Ratio for second preceding Determination Date 6.63% Delinquency Ratio for third preceding Determination Date 7.02% Cumulative Defaults for preceding Determination Date 13,784,568.39 Cumulative Net Losses for preceding Determination Date 10,245,088.27 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y-WAIVED CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 2,524,368.81 Liquidation Proceeds 265,298.26 Recoveries 107,273.61 Purchase Amounts 0.00 Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 0.00 Investment earnings from Payahead Account 0.00 --------------- Total Distribution Amount 2,896,940.68 DISTRIBUTABLE AMOUNT PRINCIPAL DISTRIBUTABLE AMOUNT Principal portion of payments collected (non-prepayments) 940,820.18 Prepayments in full allocable to principal 614,845.00 Principal Balance of Liquidated Receivables 890,492.68 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,446,157.86 CLASS A PRINCIPAL DISTRIBUTABLE AMOUNT Principal Distributable Amount 2,446,157.86 Times Class A Percentage (95%) 95% --------------- 2,323,849.97 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,323,849.97 CLASS A INTEREST DISTRIBUTABLE AMOUNT Beginning of Period Principal Balance of the Certificates 56,572,681.85 Multiplied by Certificate Pass-Through Rate 6.55% Multiplied by 30/360, or for the first Distribution Date, by 29/360 0.0833333 --------------- Class A Interest Distributable Amount 308,792.56 CLASS B PRINCIPAL DISTRIBUTABLE AMOUNT Principal Distributable Amount 2,446,157.86 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 122,307.89 CLASS B COUPON INTEREST AMOUNT Beginning of Period Principal Balance of the Certificates 3,412,991.05 Multiplied by Certificate Pass-Through Rate 11.66% Multiplied by 30/360, or for the first Distribution Date, by 29/360 0.0833333 --------------- Class B Coupon Interest Amount 33,162.90 CLASS B EXCESS INTEREST AMOUNT Total Distribution Amount 2,896,940.68 minus Class A Principal and Interest Distributable Amount 2,632,642.53 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 33,162.90 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 122,307.89 Class B Principal Carryover Shortfall 435,481.47 Trustee distributions 1,176.58 Standby Servicer distributions 3,970.01 Servicer distributions 116,228.10 Collateral Agent distributions 749.82 Reimbursement Obligations 15,822.58 --------------- 0.00 Carryover Shortfalls from Prior Periods Class B Principal Carryover Shortfall from previous period 435,481.47 --------------- 435,481.47 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 ---------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 ---------------- 0.00 Class A Interest Carryover Shortfall from previous period 0.00 Interest on Class A Interest Carryover Shortfall 0.00 ---------------- 0.00 Interest Carryover on Class A Interest Shortfall 0.00 Interest Earned 0.00 ---------------- 0.00
CALCULATIONS DISTRIBUTIONS (Pursuant to Section 4.6(c) of the Pooling and Servicing Agreement): Use --- (i) Standby Fee 3,970.01 Servicing Fee (2.0%) 99,250.32 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 16,977.78 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Trustee Fee 744.38 Trustee's out-of-pocket expenses 432.20 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 749.82 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v) (A) Class A Interest Distributable Amount - Current Month 308,792.56 Prior Month(s) Class A Carryover Shortfall 0.00 Class A Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A Interest Carryover Shortfall 0.00 Class A Interest Distributable Amount 308,792.56 (viii)(A) Class B Coupon Interest - Unadjusted 33,162.90 Class B Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class B Interest Shortfall 0.00 Adjusted Class B Interest Distributable Amount 33,162.90 (v) (B) Class A Principal Distributable Amount - Current Month 2,323,849.97 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount 2,323,849.97 (vi) Certificate Insurer Premium 15,822.58 Certificate Insurer Premium Supplement 0.00 Other Reimbursement Obligations to Certificate Insurer 0.00 (vii) Transition Expenses to successor Servicer 0.00 (B) Class B Principal Distributable Amount - Current Month Unadjusted 122,307.89 Class B Principal Carryover Shortfall - Previous Month(s) 435,481.47 Current Month Class B Principal Shortfall (464,601.20) Adjusted Class B Principal Distributable Amount 93,188.17 (C) Excess Interest Amount for Deposit in Spread Account 0.00 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ----------------------------------------------------
CERTIFICATE BALANCE Class A Beginning of Period Principal Balance 56,572,681.85 Class A Principal Distributions 2,323,849.97 Class A End of Period Principal Balance 54,248,831.88 Class B Beginning of Period Principal Balance 3,412,991.05 Class B Principal Distributable Amount 93,188.17 Class B End of Period Principal Balance BEFORE Spread Account Distributions 3,319,802.88 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 3,319,802.88 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,896,940.68 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 430,917.07 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,466,023.61 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 2,466,023.61 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 33,162.90 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 2,432,860.71 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,432,860.71 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,323,849.97 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 109,010.74 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 109,010.74 (vi) Certificate Insurer Premium 15,822.58 (v) Certificate Insurer Premium Supplement 0.00 Deficiency Amount 0.00 Withdrawal from Spread Account to Cover Deficiency 0.00 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 93,188.17 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 93,188.17 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 122,307.89 (iii)Prior month(s) carryover shortfalls 435,481.47 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (464,601.20) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (464,601.20) CALCULATIONS PERFORMANCE MEASURES CALCULATION OF DELINQUENCY RATIO (CURRENT PERIOD) DELINQUENCY AMOUNT Receivables more than 30 days delinquent 4,471,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 4,471,000.00 Aggregate Gross Principal Balance as of the close of 65,567,438.02 business on the last day of the Collection Period. DELINQUENCY RATIO 6.82% CALCULATION OF AVERAGE DELINQUENCY RATIO Delinquency Ratio for most recent Determination Date 6.82% Delinquency Ratio for second preceding Determination Date 6.63% Delinquency Ratio for third preceding Determination Date 7.02% --------------- AVERAGE DELINQUENCY RATIO 6.82% CALCULATION OF CUMULATIVE DEFAULT RATIO DEFAULT AMOUNT Principal Balance of Previously Defaulted Receivables 13,784,568.39 Current Period Defaulted Receivables 586,967.14 --------------- Total 14,371,535.53 Cumulative Defaulted Receivables 14,371,535.53 Original Pool Balance 102,327,009.71 CUMULATIVE DEFAULT RATIO 14.04% CALCULATION OF CUMULATIVE NET LOSS RATIO CALCULATION OF NET LIQUIDATION LOSSES Principal Balance plus accrued and unpaid interest of Liquidated Receivables 890,492.68 Cram Down Losses 0.00 Net Liquidation Proceeds (372,571.87) --------------- Net Liquidation Losses 517,920.81 Cumulative Previous Net Losses 10,245,088.27 --------------- Cumulative Net Losses 10,763,009.08 Original Pool Balance 102,327,009.71 CUMULATIVE NET LOSS RATIO 10.52% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.35 Weighted Average Remaining Term 38.43 Weighted Average Annual Percentage Rate 20.53% SPREAD ACCOUNT SPREAD ACCOUNT CAP 10% of Outstanding Certificate Balance 5,756,863.48 15% of Outstanding Certificate Balance 8,635,295.21 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y-WAIVED --------------- Cap Amount 16,274,649.56 SPREAD ACCOUNT FLOOR 3% of the Initial Certificate Balance 3,069,810.29 Outstanding Certificate Balance 57,568,634.77 Minimum Floor 100,000.00 --------------- FLOOR AMOUNT 3,069,810.29 Required Spread Account Amount 16,274,649.56 Beginning of Period Spread Account Balance 7,097,951.20 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 9,176,698.36 Earnings on Spread Account Balance 32,560.58 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 7,130,511.78 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1997-2 6.65% ASSET-BACKED CERTIFICATES Distribution Date 10/15/98 Collection Period 9/98 Under the Pooling and Servicing Agreement dated as of May 30, 1997 (the "Agreement") by and among CPS Receivables Corp., Consumer Portfolio Services, Inc. as Servicer, and Norwest Bank Minnesota, National Association, as Trustee and as Collateral Agent, the Servicer is required to prepare certain information each month regarding current distributions to Certificateholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date and Collection Period listed above is set forth below. Certain of the information is presented on the basis of an original principal amount of $1,000 per Certificate, and certain other information is presented based upon the aggregate amounts for the Trust as a whole.
A. Information Regarding the Current Monthly Distribution: 1 Certificates. (a) The aggregate amount of the distribution to Class A Certificateholders on the Distribution Date set forth above $2,983,581.90 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $409,241.45 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,574,340.45 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $26.31 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $3.61 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $22.70 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $119,921.98 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $41,330.23 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $78,591.75 (j) Scheduled Payments due in such Collection Period $2,611,052.30 (k) Scheduled Payments collected in such Collection Period $2,265,351.25 B. Information Regarding the Performance of the Trust. 1 Pool Balance and Certificate Balances (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $77,734,822.53 (b) The aggregate balance of the Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c) above $75,530,488.37 (c) The Pool factor as of the close of business on the last day set forth above 0.9716429 2 Servicing Fee and Purchased Receivables. (a) The aggregate amount of the Servicing Fee (exclusive of the Standby Fee paid to the Standby Servicer) paid to the Servicer with respect to the Collection Period set forth above $150,661.15 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $5,182.32 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.33 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $0.05 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (c) above $0.00 4 Payahead Account. (a) The aggregate Payahead Balance on the prior Distribution Date $34,483.07 (b) Distributions (to) from Collection Account ($6,209.78) for Payaheads (c) Interest earned on Payahead Balances $140.30 (d) Ending Payahead Account Balance $28,413.59 5 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $11,329,573.26 Spread Account Balance $9,206,938.18 (b) The change in the spread account on the Distribution Date set forth above $41,197.16 6 Policy. (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $20,788.17 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $796,318.60 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 261 Aggregate Gross Amount $3,199,000.00 (d) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent 60 days or more Number 212 Aggregate Gross Amount $2,643,000.00 8 Performance Triggers. (a) Delinquency Ratio 6.83% (b) Average Delinquency Ratio 6.48% (c) Cumulative Default Ratio 11.31% (d) Cumulative Net Loss Ratio 8.23% (e) Is a Portfolio Performance Test violation continuing? Yes (f) Has an Insurance Agreement Event of Default occurred? No (a)
CPS AUTO GRANTOR TRUST 1997-2 STATEMENT TO CERTIFICATEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 3,311,337.53 LOCK BOX NSF ITEMS: (48,238.09) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 6,209.78 COLLECTION ACCOUNT INTEREST 13,193.13 PAYAHEAD ACCOUNT INTEREST 140.30 TOTAL COLLECTION PROCEEDS: 3,282,642.65 FOR DISTRIBUTION DATE: 10/15/98 FOR DETERMINATION DATE: 10/7/98 FOR COLLECTION PERIOD: 9/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 77,734,822.53 Principal portion of payments collected (non-prepayments) 999,249.36 Prepayments in full allocable to principal 537,830.00 Collections allocable to principal 1,537,079.36 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 376,434.09 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,913,513.45 Realized Losses 796,318.60 Cram Down Losses 0.00 Ending Principal Balance 75,024,990.48 INTEREST Collections allocable to interest 1,266,101.89 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 103,027.31 --------------- Total Interest 1,369,129.20 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 73,848,081.42 Beginning of Period Class B Principal Balance 4,335,339.15 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 9,165,741.02 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 21,103.11 Aggregate Payahead Balance 28,273.29 Aggregate Payahead Balance for preceding Distribution Date 34,483.07 Interest Earned on Payahead Balances 140.30 Scheduled Payments due in Collection Period 2,611,052.30 Scheduled Payments collected in Collection Period 2,265,351.25 Aggregate Amount of Realized Losses for preceding Distribution Date 796,318.60 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 558.15 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Certificate Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 261 3,199,000.00 60+ days delinquent 212 2,643,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 0 0.00 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close of business on the last day of the related Collection Period. 5,842,000.00 Principal Balance of all Receivables that became Purchased Receivables as of the close of business on the last day of the related Collection Period and that were delinquent 30 days or more. 0.00 Principal Balance of all Receivables that became Defaulted Receivables during the related Collection Period. 853,754.15 Delinquency Ratio for second preceding Determination Date 6.03% Delinquency Ratio for third preceding Determination Date 6.58% Cumulative Defaults for preceding Determination Date 12,641,569.62 Cumulative Net Losses for preceding Determination Date 9,124,516.27 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 2,803,181.25 Liquidation Proceeds 376,434.09 Recoveries 103,027.31 Purchase Amounts 0.00 Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 0.00 Investment earnings from Payahead Account 0.00 --------------- TOTAL DISTRIBUTION AMOUNT 3,282,642.65 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 999,249.36 Prepayments in full allocable to principal 537,830.00 Principal Balance of Liquidated Receivables 1,172,752.69 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,709,832.05 Class A Principal Distributable Amount Principal Distributable Amount 2,709,832.05 Times Class A Percentage (95%) 95% --------------- 2,574,340.45 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,574,340.45 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 73,848,081.42 Multiplied by Certificate Pass-Through Rate 6.65% Multiplied by 30/360, or for the first Distribution Date, by 16/360 0.0833333 --------------- Class A Interest Distributable Amount 409,241.45 Class B Principal Distributable Amount Principal Distributable Amount 2,709,832.05 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 135,491.60 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 4,335,339.15 Multiplied by Certificate Pass-Through Rate 11.44% Multiplied by 30/360, or for the first Distribution Date, by 16/360 0.0833333 --------------- Class B Coupon Interest Amount 41,330.23 Class B Excess Interest Amount Total Distribution Amount 3,282,642.65 minus Class A Principal and Interest Distributable Amount 2,983,581.90 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 41,330.23 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 135,491.60 Class B Principal Carryover Shortfall 448,598.03 Trustee distributions 1,529.84 Standby Servicer distributions 5,182.32 Servicer distributions 150,661.15 Collateral Agent distributions 977.29 Reimbursement Obligations 20,788.17 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 448,598.03 --------------- 448,598.03 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A Interest Carryover Shortfall from previous period 0.00 Interest on Class A Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(C) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 5,182.32 Servicing Fee (2.0%) 129,558.04 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 21,103.11 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Trustee Fee 971.69 Trustee's out-of-pocket expenses 558.15 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 977.29 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v) (A) Class A Interest Distributable Amount - Current Month 409,241.45 Prior Month(s) Class A Carryover Shortfall 0.00 Class A Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A Interest Carryover Shortfall 0.00 Class A Interest Distributable Amount 409,241.45 (viii)(A) Class B Coupon Interest - Unadjusted 41,330.23 Class B Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class B Interest Shortfall 0.00 Adjusted Class B Interest Distributable Amount 41,330.23 (v) (B) Class A Principal Distributable Amount - Current Month 2,574,340.45 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount 2,574,340.45 (vi) Certificate Insurer Premium 20,788.17 Certificate Insurer Premium Supplement 0.00 Other Reimbursement Obligations to Certificate Insurer 0.00 (vii) Transition Expenses to successor Servicer 0.00 (B) Class B Principal Distributable Amount - Current Month Unadjusted 135,491.60 Class B Principal Carryover Shortfall - Previous Month(s) 448,598.03 Current Month Class B Principal Shortfall (505,497.88) Adjusted Class B Principal Distributable Amount 78,591.75 (C) Excess Interest (Shortage) Amount for Deposit to (withdrawal from) Spread Account 0.00 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ---------------------------------------------------- (a) Requisite levels for spread accounts reflect insurance defaults on pools 1995-4, 1996-1, FASCO 1996-1, and 1997-1.
CERTIFICATE BALANCE Class A Beginning of Period Principal Balance 73,848,081.42 Class A Principal Distributions 2,574,340.45 Class A End of Period Principal Balance 71,273,740.97 Class B Beginning of Period Principal Balance 4,335,339.15 Class B Principal Distributable Amount 78,591.75 Class B End of Period Principal Balance BEFORE Spread Account Distributions 4,256,747.40 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 4,256,747.40 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 3,282,642.65 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 567,592.05 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,715,050.60 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 2,715,050.60 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 41,330.23 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 2,673,720.37 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,673,720.37 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,574,340.45 (iii) Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 99,379.92 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 99,379.92 (vi) Certificate Insurer Premium 20,788.17 (v) Certificate Insurer Premium Supplement 0.00 Deficiency Amount 0.00 Withdrawal from Spread Account to Cover Deficiency 0.00 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 78,591.75 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 78,591.75 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 135,491.60 (iii) Prior month(s) carryover shortfalls 448,598.03 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (505,497.88) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (505,497.88) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 5,842,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 5,842,000.00 Aggregate Gross Principal Balance as of the close of 85,487,237.88 business on the last day of the Collection Period. DELINQUENCY RATIO 6.83% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 6.83% Delinquency Ratio for second preceding Determination Date 6.03% Delinquency Ratio for third preceding Determination Date 6.58% --------------- Average Delinquency Ratio 6.48% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 12,641,569.62 Current Period Defaulted Receivables 853,754.15 --------------- Total 13,495,323.77 Cumulative Defaulted Receivables 13,495,323.77 Original Pool Balance 119,362,032.46 Cumulative Default Ratio 11.31% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,172,752.69 Cram Down Losses 0.00 Net Liquidation Proceeds (479,461.40) --------------- Net Liquidation Losses 693,291.29 Cumulative Previous Net Losses 9,124,516.27 --------------- Cumulative Net Losses 9,817,807.56 Original Pool Balance 119,362,032.46 Cumulative Net Loss Ratio 8.23% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.35 Weighted Average Remaining Term 40.93 Weighted Average Annual Percentage Rate 20.46% SPREAD ACCOUNT Spread Account Cap 9% of Outstanding Certificate Balance 6,797,743.95 15% of Outstanding Certificate Balance 11,329,573.26 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) N (a) --------------- Cap Amount 11,329,573.26 Spread Account Floor 3% of the Initial Certificate Balance 3,580,860.93 Outstanding Certificate Balance 75,530,488.37 Minimum Floor 100,000.00 --------------- Floor Amount 3,580,860.93 Required Spread Account Amount 11,329,573.26 Beginning of Period Spread Account Balance 9,165,741.02 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 2,163,832.24 Earnings on Spread Account Balance 41,197.16 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 9,206,938.18 MONTHLY NOTEHOLDER STATEMENT CPS AUTO RECEIVABLES TRUST 1997-3 6.10% ASSET-BACKED NOTES, CLASS A-1 6.38% ASSET-BACKED NOTES, CLASS A-2 10.65% ASSET-BACKED NOTES, CLASS B 10.65% ASSET-BACKED CERTIFICATES Distribution Date 10/15/98 Collection Period 9/98 Under the Sale and Servicing Agreement dated as of August 1, 1997 (the "Agreement") by and among CPS Receivables Corp., Consumer Portfolio Services, Inc. as Servicer, Bankers Trust as Owner Trustee, and Norwest Bank Minnesota, National Association, as Indenture Trustee and as Collateral Agent, the Servicer is required to prepare certain information each month regarding current distributions to Noteholders and Certificateholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date and Collection Period listed above is set forth below. Certain of the information is presented on the basis of an original principal amount of $1,000 per Note, and certain other information is presented based upon the aggregate amounts for the Trust as a whole.
A. Information Regarding the Current Monthly Distribution: 1 Notes. (a) The aggregate amount of the distribution to Class A-1 Noteholders on the Distribution Date set forth above $3,638,384.88 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $171,140.69 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $3,467,244.19 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $45.01 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $2.12 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $42.89 (g) The aggregate amount of the distribution to Class A-2 Noteholders on the Distribution Date set forth above $327,868.20 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $327,868.20 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $0.00 (j) The amount of the distribution set forth in paragraph A.1. (g) above, per $1,000 $5.31 (k) The amount of the distribution set forth in paragraph A.1. (h) above, per $1,000 $0.00 (l) The amount of the distribution set forth in paragraph A.1. (i) above, per $1,000 $0.00 (m) The aggregate amount of the distribution to Class B Noteholders on the Distribution Date set forth above $233,494.80 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $25,015.69 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $208,479.11 (p) The aggregate amount of the distribution to Certificateholders on the Distribution Date set forth above $233,494.80 (q) The amount of the distribution set forth in paragraph A.1. (p) above in respect of interest $25,015.69 (r) The amount of the distribution set forth in in paragraph A.1. (p) above in respect of principal $208,479.11 (s) Scheduled Payments due in such Collection Period $3,468,783.12 (t) Scheduled Payments collected in such Collection Period $3,238,315.50 B. Information Regarding the Performance of the Trust. 1 Pool, Note and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $108,422,613.07 (b) The aggregate principal amount of the Securities as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c),(i),(o),(r) above $97,088,156.46 (c) Aggregate principal amount of Notes as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c),(i),(o) above $94,477,966.81 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8713862 (e) Aggregate principal amount of Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(r) above $2,610,189.65 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0240742 2 Servicing Fee and Purchased Receivables. (a) The aggregate amount of the Servicing Fee (exclusive of the Standby Fee paid to the Standby Servicer) paid to the Servicer with respect to the Collection Period set forth above $205,476.49 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $5,421.13 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $2.54 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 $0.07 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Class A-1 Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Class A-2 Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (h) above $0.00 (c) The amount of the Class A Principal Carryover Shortfall after giving effect to the payments set forth in paragraph A.1.(c),(i) above $0.00 (d) The amount of the Class B Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (n) above $0.00 (e) The amount of the Class B Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (o) above $0.00 (f) The amount of the Certificate Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (q) above $0.00 (g) The amount of the Certificate Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (r) above $0.00 4 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $31,322,275.93 Spread Account Balance $3,029,756.82 (b) The change in the spread account on the Distribution Date set forth above $13,555.17 5 Policy. (a) The amount paid to the Noteholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Note Insurer on such Distribution Date $26,803.45 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,295,069.69 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 360 Aggregate Gross Amount $4,415,000.00 (d) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent 60 days or more Number 285 Aggregate Gross Amount $3,531,000.00 7 Performance Triggers (a) Delinquency Ratio 6.72% (b) Average Delinquency Ratio 6.50% (c) Cumulative Default Ratio 9.48% (d) Cumulative Net Loss Ratio 6.61% (e) Is a Portfolio Performance Test violation continuing? No (f) Has an Insurance Agreement Event of Default occurred? No(a)
CPS AUTO RECEIVABLES TRUST 1997-3 STATEMENT TO NOTEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 4,737,513.28 LOCK BOX NSF ITEMS: (82,277.16) TOTAL COLLECTION PROCEEDS: 4,655,236.12 FOR DISTRIBUTION DATE: 10/15/98 FOR DETERMINATION DATE: 10/7/98 FOR COLLECTION PERIOD: 9/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 108,422,613.07 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 108,422,613.07 Principal portion of payments collected (non-prepayments) 1,418,793.56 Prepayments in full allocable to principal 735,273.00 Collections allocable to principal 2,154,066.56 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 565,890.40 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 2,719,956.96 Realized Losses 1,295,069.69 Cram Down Losses 0.00 Ending Principal Balance 104,407,586.42 PREFUNDING Original Amount in Prefunding Account 27,084,817.00 Subsequent Loans Sold to the Trust 27,084,817.00 Balance of Prefunding Account 0.00 INTEREST Collections allocable to interest 1,819,521.94 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 115,757.22 --------------- Total Interest 1,935,279.16 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 33,667,021.35 Beginning of Period Class A-2 Principal Balance 61,668,000.00 Beginning of Period Class B Principal Balance 2,818,668.76 Beginning of Period Certificate Balance 2,818,668.76 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 3,016,201.65 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 24,772.13 Scheduled Payments due in Collection Period 3,468,783.12 Scheduled Payments collected in Collection Period 3,238,315.50 Aggregate Amount of Realized Losses for preceding Distribution Date 1,295,069.69 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 183.63 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Note Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 360 4,415,000.00 60+ days delinquent 285 3,531,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 0 0.00 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close of business on the last day of the related Collection Period. 7,946,000.00 Principal Balance of all Receivables that became Purchased Receivables as of the close of business on the last day of the related Collection Period and that were delinquent 30 days or more. 0.00 Principal Balance of all Receivables that became Defaulted Receivables during the related Collection Period. 1,214,422.51 Delinquency Ratio for second preceding Determination Date 6.43% Delinquency Ratio for third preceding Determination Date 6.36% Cumulative Defaults for preceding Determination Date 12,999,001.93 Cumulative Net Losses for preceding Determination Date 8,730,944.91 Does a Trigger Event Exist? N Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) CALCULATIONS REQUISITE RESERVE AMOUNT Weighted Average of the Interest Rates and Pass-Through Rates 6.5250% minus 2.5% 2.50% --------------- 4.0250% divided by 360 0.0112% times the prefunded amount 0.00 times the number of days outstanding in prefunding period (8/19 - 9/11) 23.00 --------------- Requisite Reserve Amount 0.00 Amount in Interest Reserve Account 0.00 Excess in Interest Reserve Account 0.00 TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 3,973,588.50 Liquidation Proceeds 565,890.40 Recoveries 115,757.22 Purchase Amounts 0.00 Note Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Excess released from Prefunding Account 0.00 Investment earnings from Note Distribution Account 633.46 Investment earnings from Prefunding Account 0.00 Investment earnings from Interest Reserve Account 297.71 Investment earnings from Collection Account 16,705.05 --------------- TOTAL DISTRIBUTION AMOUNT 4,672,872.34 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,418,793.56 Prepayments in full allocable to principal 735,273.00 Principal Balance of Liquidated Receivables 1,860,960.09 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 4,015,026.65 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 104,407,586.42 --------------- 93,966,827.78 Class A Noteholders' Percentage After the Target Payment Date? Yes Will the Class A-2 Notes be reduced to 0? No On or Prior to Target Payment Date 95.0% After Target Payment Date, before Payment Date when A-2 reduced to 0 91.0% On Payment Date when Class A-2 Notes will be reduced to 0 61.1% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 4,015,026.65 Times Class A Noteholders' Percentage 91% --------------- 3,653,674.25 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 3,653,674.25 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 33,667,021.35 Multiplied by the Note Rate 6.10% Multiplied by 30/360, or for the first Distribution Date, by 27/360 0.0833333 --------------- Class A Interest Distributable Amount 171,140.69 Class A-2 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 61,668,000.00 Multiplied by the Note Rate 6.38% Multiplied by 30/360, or for the first Distribution Date, by 27/360 0.0833333 --------------- Class A Interest Distributable Amount 327,868.20 Class B Noteholders Principal Distributable Amount Principal Distributable Amount 4,015,026.65 Times Class B Percentage 2.5% --------------- Class B Principal Distributable Amount 100,375.67 Certificate Principal Distributable Amount Principal Distributable Amount 4,015,026.65 Times Certificate Percentage 2.5% --------------- Certificate Principal Distributable Amount 100,375.67 Class B Noteholders' Interest Amount Beginning of Period Principal Balance of the Notes 2,818,668.76 Multiplied by Note Pass-Through Rate 10.65% Multiplied by 30/360, or for the first Distribution Date, by 27/360 0.0833333 --------------- Class B Coupon Interest Amount 25,015.69 Certificateholders' Interest Amount Beginning of Period Principal Balance of the Certificates 2,818,668.76 Multiplied by Pass-Through Rate 10.65% Multiplied by 30/360, or for the first Distribution Date, by 27/360 0.0833333 --------------- Certificateholders' Interest Amount 25,015.69 Class B Excess Interest Amount Total Distribution Amount 4,672,872.34 minus Class A Principal and Interest Distributable Amount 3,824,814.94 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 25,015.69 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 100,375.67 Class B Principal Carryover Shortfall 216,206.88 Trustee distributions 1,087.15 Standby Servicer distributions 5,421.13 Servicer distributions 205,476.49 Collateral Agent distributions 841.44 Reimbursement Obligations 26,803.45 --------------- 266,829.50 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B and Certificates Principal Carryover Shortfall from previous period 216,206.88 --------------- 216,206.88 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A-1 Interest Carryover Shortfall from previous period 0.00 Interest on Class A-1 Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A-1 Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A-2 Interest Carryover Shortfall from previous period Interest on Class A-2 Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A-2 Interest Shortfall Interest Earned 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(C) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 5,421.13 Servicing Fee (2.0%) 180,704.36 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 24,772.13 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Indenture Trustee Fee 903.52 Indenture Trustee's out-of-pocket expenses 183.63 Unpaid Indenture Trustee Fee from prior Collection Periods 0.00 Unpaid Indenture Trustee's out-of-pocket exp. - prior Collection Periods 0.00 Owner Trustee Fee 0.00 Owner Trustee's out-of-pocket expenses 0.00 Unpaid Owner Trustee Fee from prior Collection Periods 0.00 Unpaid Owner Trustee's out-of-pocket exp - prior Collection Periods 0.00 (iv) Collateral Agent Fee 841.44 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v) (A) Class A-1 Interest Distributable Amount - Current Month 171,140.69 Prior Month(s) Class A-1 Interest Carryover Shortfall 0.00 Class A-1 Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A-1 Interest Carryover Shortfall 0.00 Class A-1 Interest Distributable Amount 171,140.69 (B) Class A-2 Interest Distributable Amount - Current Month 327,868.20 Prior Month(s) Class A-2 Interest Carryover Shortfall 0.00 Class A-2 Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A-2 Interest Carryover Shortfall 0.00 Class A-2 Interest Distributable Amount 327,868.20 (vi) (A) Class B Note Interest - Unadjusted 25,015.69 Class B Note Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on B Interest Carryover from Prior Months 0.00 Current Month Class B Interest Shortfall 0.00 Adjusted Class B Note Interest Distributable Amount 25,015.69 (B) Certificate Interest - Unadjusted 25,015.69 Certificate Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on Certificate Interest Shortfall - Previous Month(s) 0.00 Interest on Certificate Interest Carryover from Prior Months 0.00 Current Month Certificate Interest Shortfall 0.00 Adjusted Certificate Interest Distributable Amount 25,015.69 (vii) Class A Principal Distributable Amount - Current Month 3,437,467.37 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount to Class A-1 3,437,467.37 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 26,803.45 Note Insurer Premium Supplement 0.00 Other Reimbursement Obligations to Note Insurer 0.00 (ix) Transition Expenses to successor Servicer 0.00 (x) Class B Principal Distributable Amount - Current Month Unadjusted 100,375.67 Class B Principal Carryover Shortfall - Previous Month(s) 108,103.44 Current Month Class B Principal Shortfall 0.00 Adjusted Class B Principal Distributable Amount 208,479.11 Certificate Principal Distributable Amount - Current Month Unadjusted 100,375.67 Certificate Principal Carryover Shortfall - Previous Month(s) 108,103.44 Current Month Certificate Principal Shortfall 0.00 Adjusted Certificate Principal Distributable Amount 208,479.11 (xi) Until the Target Payment Date, remaining amount to Class A Noteholders 29,776.82 Amount to Class A-1 Noteholders 29,776.82 Amount to Class A-2 Noteholders 0.00 (xii) After an Event of Default, Certificateholders' Int. Dist. Amount 0.00 (xiii) After an Event of Default, Certificateholders' Prin. Dist. Amount 0.00 (xiv) After the Target Pmt. Date, remaining amount into Spread Acct. 0.00 Spread Account withdrawal for deficiencies 0.00 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ---------------------------------------------------- (a) Requisite levels for spread accounts reflect insurance defaults on pools 1995-4, 1996-1, FASCO 1996-1, and 1997-1.
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 33,667,021.35 Class A-1 Principal Distributions 3,437,467.37 Class A-1 End of Period Principal Amount (prior to turbo) 30,229,553.98 Additional Principal Distribution 29,776.82 Class A-1 End of Period Principal Amount 30,199,777.16 Class A-2 Beginning of Period Principal Amount 61,668,000.00 Class A-2 Principal Distributions 0.00 Class A-2 End of Period Principal Amount (prior to turbo) 61,668,000.00 Additional Principal Distribution 0.00 Class A-2 End of Period Principal Amount 61,668,000.00 Class B Beginning of Period Principal Amount 2,818,668.76 Class B Principal Distributable Amount 208,479.11 Class B End of Period Principal Amount BEFORE Spread Account Distributions 2,610,189.65 Allocations of Cash Releases to Cover B Shortfalls 0.00 Class B End of Period Principal Amount AFTER Spread Account Distributions 2,610,189.65 Certificate Beginning of Period Principal Amount 2,818,668.76 Certificate Principal Distributable Amount 208,479.11 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 2,610,189.65 Allocation of Cash Releases to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 2,610,189.65 CLASS A-1 DEFICIENCY - INTEREST (i) Total Distribution Amount Available 4,672,872.34 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(i) and (v)A 383,966.90 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 4,288,905.44 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(v) B 4,288,905.44 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(v) B 327,868.20 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 3,961,037.24 CLASS B NOTE DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) A 3,961,037.24 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(v) A 25,015.69 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 3,936,021.55 CLASS B CERTIFICATE DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) and (x) 3,936,021.55 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(vi) and (x) 25,015.69 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 3,911,005.86 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a)(vii) 3,911,005.86 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(vii) 3,437,467.37 (iii) Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 473,538.49 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.8(a)(viii) 473,538.49 (vi) Note Insurer Premium 26,803.45 (v) Note Insurer Premium Supplement 0.00 Deficiency Amount 0.00 Withdrawal from Spread Account to Cover Deficiency 0.00 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 446,735.04 CLASS B NOTES & CERTIFICATES DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) and (x) 446,735.04 (ii) Amounts payable pursuant to Section 5.8(a)(vi) and (x) 200,751.34 (iii) Prior month(s) carryover shortfalls 216,206.88 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/ B Notes (Deficiency) 14,888.41 Amount Remaining for Further Distribution/ B Certificates (Deficiency) 14,888.41 Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 29,776.82 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 7,946,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 7,946,000.00 Aggregate Gross Principal Balance as of the close of 118,261,630.79 business on the last day of the Collection Period. DELINQUENCY RATIO 6.72% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 6.72% Delinquency Ratio for second preceding Determination Date 6.43% Delinquency Ratio for third preceding Determination Date 6.36% ---------------- Average Delinquency Ratio 6.50% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 12,999,001.93 Current Period Defaulted Receivables 1,214,422.51 --------------- Total 14,213,424.44 Cumulative Defaulted Receivables 14,213,424.44 Original Pool Balance 150,000,000.00 Cumulative Default Ratio 9.48% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,860,960.09 Cram Down Losses 0.00 Net Liquidation Proceeds (681,647.62) --------------- Net Liquidation Losses 1,179,312.47 Cumulative Previous Net Losses 8,730,944.91 --------------- Cumulative Net Losses 9,910,257.38 Original Pool Balance 150,000,000.00 Cumulative Net Loss Ratio 6.61% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.00 Weighted Average Remaining Term 43.61 Weighted Average Annual Percentage Rate 20.39% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 104,407,586.42 minus the Securities Balance 97,088,156.46 --------------- 7,319,429.96 divided by the Aggregate Principal Balance 7.01% Floor OC Percent Aggregate Principal Balance 104,407,586.42 minus the Securities Balance 97,088,156.46 --------------- 7,319,429.96 divided by the initial Aggregate Principal Balance 150,000,000.00 --------------- 4.88% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 97,088,156.46 (ii) the sum of (A) 2% of the sum of 2.00% (I) initial Aggregate Principal Balance 122,915,183.00 (II) balance of all Subsequent Receivables 27,084,817.00 --------------- 3,000,000.00 (B) the product of (I) excess of 1% over the Floor OC Percent 0.00% (II) initial Aggregate Principal Balance 150,000,000.00 --------------- 0.00 Floor Amount 3,000,000.00 Requisite Amount the greater of (1) the Floor Amount 3,000,000.00 (2) the product of: if no Trigger Event, 9% minus the OC Percent 1.99% if a Trigger Event, 15% minus the OC Percent 7.99% if a Portfolio Performance Event of Default, 30% minus the OC Percent 22.99% if an Insurance Agreement Event of Default, 30% 30.00% 30.00% times the Aggregate Principal Balance 104,407,586.42 --------------- 31,322,275.93 Requisite Amount 31,322,275.93 Does a Trigger Event exist? N Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) Required Spread Account Amount 31,322,275.93 Beginning of Period Spread Account Balance 3,016,201.65 Additional Deposit for Subsequent Receivables Transfer 0.00 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 28,306,074.28 Earnings on Spread Account Balance 13,555.17 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Notes Shortfalls 0.00 Amount of Withdrawal Allocated to B Certificates Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 3,029,756.82 MONTHLY NOTEHOLDER STATEMENT CPS AUTO RECEIVABLES TRUST 1997-4 6.07% ASSET-BACKED NOTES, CLASS A-1 6.30% ASSET-BACKED NOTES, CLASS A-2 10.59% ASSET-BACKED CERTIFICATES Distribution Date 10/15/98 Collection Period 9/98 Under the Sale and Servicing Agreement dated as of October 9, 1997 and amended as of October 17, 1997 (the "Agreement") by and among CPS Receivables Corp., Consumer Portfolio Services, Inc. as Servicer, Bankers Trust as Owner Trustee, and Norwest Bank Minnesota, National Association, as Indenture Trustee and as Collateral Agent, the Servicer is required to prepare certain information each month regarding current distributions to Noteholders and Certificateholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date and Collection Period listed above is set forth below. Certain of the information is presented on the basis of an original principal amount of $1,000 per Note, and certain other information is presented based upon the aggregate amounts for the Trust as a whole.
A. Information Regarding the Current Monthly Distribution: 1 Notes. (a) The aggregate amount of the distribution to Class A-1 Noteholders on the Distribution Date set forth above $2,645,376.61 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $135,392.21 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,509,984.40 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $48.75 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $2.50 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $46.26 (g) The aggregate amount of the distribution to Class A-2 Noteholders on the Distribution Date set forth above $243,114.89 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $243,114.89 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $0.00 (j) The amount of the distribution set forth in paragraph A.1. (g) above, per $1,000 $3.94 (k) The amount of the distribution set forth in paragraph A.1. (h) above, per $1,000 $0.00 (l) The amount of the distribution set forth in paragraph A.1. (i) above, per $1,000 $0.00 (m) The aggregate amount of the distribution to Certificateholders on the Distribution Date set forth above $167,621.75 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $36,464.37 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $131,157.38 (p) Scheduled Payments due in such Collection Period $2,573,526.58 (q) Scheduled Payments collected in such Collection Period $2,173,328.19 B. Information Regarding the Performance of the Trust. 1 Pool, Note and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $82,638,796.47 (b) The aggregate principal amount of the Securities as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c),(i),(o) above $74,564,566.03 (c) Aggregate principal amount of Notes as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c),(i) above $70,563,783.58 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8538820 (e) Aggregate principal amount of the Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(o) above $4,000,782.45 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0484129 2 Servicing Fee and Purchased Receivables. (a) The aggregate amount of the Servicing Fee (exclusive of the Standby Fee paid to the Standby Servicer) paid to the Servicer with respect to the Collection Period set forth above $156,055.90 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $4,131.94 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $2.88 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 $0.08 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Class A-1 Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Class A-2 Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (h) above $0.00 (c) The amount of the Class A Principal Carryover Shortfall after giving effect to the payments set forth in paragraph A.1.(c),(i) above $0.00 (d) The amount of the Class B Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (n) above $0.00 (e) The amount of the Class B Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (o) above $0.00 4 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $24,004,694.69 Spread Account Balance $2,216,279.86 (b) The change in the spread account on the Distribution Date set forth above $9,922.86 5 Policy. (a) The amount paid to the Noteholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Note Insurer on such Distribution Date $20,616.96 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $797,187.78 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 244 Aggregate Gross Amount $2,999,000.00 (d) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent 60 days or more Number 175 Aggregate Gross Amount $2,257,000.00 7 Performance Triggers. (a) Delinquency Ratio 5.82% (b) Average Delinquency Ratio 5.50% (c) Cumulative Default Ratio 6.80% (d) Cumulative Net Loss Ratio 4.59% (e) Is a Portfolio Performance Test violation continuing? No (f) Has an Insurance Agreement Event of Default occurred? No(a)
CPS AUTO RECEIVABLES TRUST 1997-4 STATEMENT TO NOTEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 3,273,897.41 LOCK BOX NSF ITEMS: (47,795.63) TOTAL COLLECTION PROCEEDS: 3,226,101.78 FOR DISTRIBUTION DATE: 10/15/98 FOR DETERMINATION DATE: 10/7/98 FOR COLLECTION PERIOD: 9/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 82,638,796.47 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 82,638,796.47 Principal portion of payments collected (non-prepayments) 861,962.50 Prepayments in full allocable to principal 512,839.00 Collections allocable to principal 1,374,801.50 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 451,158.23 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,825,959.73 Realized Losses 797,187.78 Cram Down Losses 0.00 Ending Principal Balance 80,015,648.96 PREFUNDING Original Amount in Prefunding Account 0.00 Subsequent Loans Sold to the Trust 0.00 Balance of Prefunding Account 0.00 INTEREST Collections allocable to interest $1,311,365.69 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 88,776.36 --------------- Total Interest $1,400,142.05 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 26,766,169.38 Beginning of Period Class A-2 Principal Balance 46,307,598.60 Beginning of Period Certificate Principal Balance 4,131,939.83 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 2,206,357.00 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 18,324.57 Scheduled Payments due in Collection Period 2,573,526.58 Scheduled Payments collected in Collection Period 2,173,328.19 Aggregate Amount of Realized Losses for preceding Distribution Date 797,187.78 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 134.10 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Note Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 244 2,999,000.00 60+ days delinquent 175 2,257,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 0 0.00 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close of business on the last day of the related Collection Period. 5,256,000.00 Principal Balance of all Receivables that became Purchased Receivables as of the close of business on the last day of the related Collection Period and that were delinquent 30 days or more. 0.00 Principal Balance of all Receivables that became Defaulted Receivables during the related Collection Period. 799,563.26 Delinquency Ratio for second preceding Determination Date 5.22% Delinquency Ratio for third preceding Determination Date 5.46% Cumulative Defaults for preceding Determination Date 6,395,413.54 Cumulative Net Losses for preceding Determination Date 4,148,128.00 Does a Trigger Event Exist? N Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 2,686,167.19 Liquidation Proceeds 451,158.23 Recoveries 88,776.36 Purchase Amounts 0.00 Note Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 12,282.41 --------------- TOTAL DISTRIBUTION AMOUNT 3,238,384.19 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 861,962.50 Prepayments in full allocable to principal 512,839.00 Principal Balance of Liquidated Receivables 1,248,346.01 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,623,147.51 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 80,015,648.96 --------------- 72,014,084.06 Class A Noteholders' Percentage After the Target Payment Date? Yes Will the Class A-2 Notes be reduced to 0? No On or Prior to Target Payment Date 95.0% After Target Payment Date, before Payment Date when A-2 reduced to 0 91.0% On Payment Date when Class A-2 Notes will be reduced to 0 60.0% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 2,623,147.51 Times Class A Noteholders' Percentage 91% --------------- 2,387,064.23 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,387,064.23 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 26,766,169.38 Multiplied by the Note Rate 6.07% Multiplied by 30/360, or for the first Distribution Date, by 29/360 0.0833333 --------------- Class A Interest Distributable Amount 135,392.21 Class A-2 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 46,307,598.60 Multiplied by the Note Rate 6.30% Multiplied by 30/360, or for the first Distribution Date, by 29/360 0.0833333 --------------- Class A Interest Distributable Amount 243,114.89 Certificateholders Principal Distributable Amount Principal Distributable Amount 2,623,147.51 Times Certificate Percentage 5.0% --------------- Class B Principal Distributable Amount 131,157.38 Certificateholders' Interest Amount Total Distribution Amount 3,238,384.19 minus Class A Principal and Interest Distributable Amount 2,765,571.33 Beginning of Period Principal Balance of the Certificates 4,131,939.83 Multiplied by Note Pass-Through Rate 10.59% Multiplied by 30/360, or for the first Distribution Date, by 29/360 0.0833333 --------------- Certificate Coupon Interest Amount 36,464.37 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 36,464.37 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 131,157.38 Class B Principal Carryover Shortfall 0.00 Trustee distributions 822.76 Standby Servicer distributions 4,131.94 Servicer distributions 156,055.90 Collateral Agent distributions 643.38 Reimbursement Obligations 20,616.96 --------------- 122,920.17 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A-1 Interest Carryover Shortfall from previous period 0.00 Interest on Class A-1 Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A-1 Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A-2 Interest Carryover Shortfall from previous period Interest on Class A-2 Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A-2 Interest Shortfall Interest Earned 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(C) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 4,131.94 Servicing Fee (2.0%) 137,731.33 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 18,324.57 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Indenture Trustee Fee 688.66 Indenture Trustee's out-of-pocket expenses 134.10 Unpaid Indenture Trustee Fee from prior Collection Periods 0.00 Unpaid Indenture Trustee's out-of-pocket exp. - prior Collection Periods 0.00 Owner Trustee Fee 0.00 Owner Trustee's out-of-pocket expenses 0.00 Unpaid Owner Trustee Fee from prior Collection Periods 0.00 Unpaid Owner Trustee's out-of-pocket exp - prior Collection Periods 0.00 (iv) Collateral Agent Fee 643.38 Collateral Agent Expenses Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v) (A) Class A-1 Interest Distributable Amount - Current Month 135,392.21 Prior Month(s) Class A-1 Interest Carryover Shortfall 0.00 Class A-1 Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A-1 Interest Carryover Shortfall 0.00 Class A-1 Interest Distributable Amount 135,392.21 (B) Class A-2 Interest Distributable Amount - Current Month 243,114.89 Prior Month(s) Class A-2 Interest Carryover Shortfall 0.00 Class A-2 Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A-2 Interest Carryover Shortfall 0.00 Class A-2 Interest Distributable Amount 243,114.89 (vi) (A) Certificate Note Interest - Unadjusted 36,464.37 Certificate Note Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on B Interest Carryover from Prior Months 0.00 Current Month Certificate Interest Shortfall 0.00 Adjusted Certificate Note Interest Distributable Amount 36,464.37 (vii) Class A Principal Distributable Amount - Current Month 2,387,064.23 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount to Class A-1 2,387,064.23 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 20,616.96 Note Insurer Premium Supplement 0.00 Other Reimbursement Obligations to Note Insurer 0.00 (ix) Transition Expenses to successor Servicer 0.00 (x) Certificate Principal Distributable Amount - Current Month Unadjusted 131,157.38 Certificate Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Certificate Principal Shortfall 0.00 Adjusted Certificate Principal Distributable Amount 131,157.38 (xi) Until the Target Payment Date, remaining amount to Class A Noteholders 122,920.17 Amount to Class A-1 Noteholders 122,920.17 Amount to Class A-2 Noteholders 0.00 (xiv) After the Target Pmt. Date, remaining amount into Spread Acct. 0.00 Spread Account Withdrawal to cover deficiencies 0.00 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ---------------------------------------------------- (a) Requisite levels for spread accounts reflect insurance defaults on pools 1995-4, 1996-1, FASCO 1996-1, and 1997-1.
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 26,766,169.38 Class A-1 Principal Distributions 2,387,064.23 Class A-1 End of Period Principal Amount (prior to turbo) 24,379,105.15 Additional Principal Distribution 122,920.17 Class A-1 End of Period Principal Amount 24,256,184.98 Class A-2 Beginning of Period Principal Amount 46,307,598.60 Class A-2 Principal Distributions 0.00 Class A-2 End of Period Principal Amount (prior to turbo) 46,307,598.60 Additional Principal Distribution 0.00 Class A-2 End of Period Principal Amount 46,307,598.60 Certificate Beginning of Period Principal Amount 4,131,939.83 Certificate Principal Distributable Amount 131,157.38 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 4,000,782.45 Withdrawal from Spread Account to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 4,000,782.45 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 3,238,384.19 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 540,161.08 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,698,223.11 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 2,698,223.11 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 36,464.37 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 2,661,758.74 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,661,758.74 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,387,064.23 (iii) Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 274,694.51 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 274,694.51 (vi) Note Insurer Premium 20,616.96 (v) Note Insurer Premium Supplement 0.00 Deficiency Amount 0.00 Withdrawal from Spread Account to Cover Deficiency 0.00 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 254,077.55 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 254,077.55 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 131,157.38 (iii) Prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Unadjusted Amount Remaining for Further Distribution/(Deficiency) 122,920.17 Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 122,920.17 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 5,256,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 5,256,000.00 Aggregate Gross Principal Balance as of the close of business on the last day of the Collection Period. 90,377,886.93 DELINQUENCY RATIO 5.82% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 5.82% Delinquency Ratio for second preceding Determination Date 5.22% Delinquency Ratio for third preceding Determination Date 5.46% --------------- Average Delinquency Ratio 5.50% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 6,395,413.54 Current Period Defaulted Receivables 799,563.26 --------------- Total 7,194,976.80 Cumulative Defaulted Receivables 7,194,976.80 Original Pool Balance 105,860,630.11 Cumulative Default Ratio 6.80% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,248,346.01 Cram Down Losses 0.00 Net Liquidation Proceeds (539,934.59) --------------- Net Liquidation Losses 708,411.42 Cumulative Previous Net Losses 4,148,128.00 --------------- Cumulative Net Losses 4,856,539.42 Original Pool Balance 105,860,630.11 Cumulative Net Loss Ratio 4.59% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.79 Weighted Average Remaining Term 45.63 Weighted Average Annual Percentage Rate 20.31% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 80,015,648.96 minus the Securities Balance 74,564,566.03 --------------- 5,451,082.93 divided by the Aggregate Principal Balance 6.81% Floor OC Percent Aggregate Principal Balance 80,015,648.96 minus the Securities Balance 74,564,566.03 --------------- 5,451,082.93 divided by the initial Aggregate Principal Balance 105,860,630.11 --------------- 5.15% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 74,564,566.03 (ii) the sum of (A) 2% of the sum of 2.00% (I) initial Aggregate Principal Balance 105,860,630.11 (II) balance of all Subsequent Receivables 0.00 --------------- 2,117,212.60 (B) the product of (I) excess of 1% over the Floor OC Percent 0.00% (II) initial Aggregate Principal Balance 105,860,630.11 --------------- 0.00 Floor Amount 2,117,212.60 Requisite Amount the greater of (1)the Floor Amount 2,117,212.60 (2)the product of: if no Trigger Event, 9% minus the OC Percent 2.19% if a Trigger Event, 15% minus the OC Percent 8.19% if a Portfolio Performance Event of Default, 30% minus the OC Percent 23.19% if an Insurance Agreement Event of Default, 30% 30.00% 30.00% times the Aggregate Principal Balance 80,015,648.96 --------------- 24,004,694.69 Requisite Amount 24,004,694.69 Does a Trigger Event exist? N Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) Required Spread Account Amount 24,004,694.69 Beginning of Period Spread Account Balance 2,206,357.00 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 21,798,337.69 Earnings on Spread Account Balance 9,922.86 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to Certificates' Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 2,216,279.86 MONTHLY NOTEHOLDER STATEMENT CPS AUTO RECEIVABLES TRUST 1997-5 6.26% ASSET-BACKED NOTES, CLASS A-1 6.40% ASSET-BACKED NOTES, CLASS A-2 10.55% ASSET-BACKED CERTIFICATES Distribution Date 10/15/98 Collection Period 9/98 Under the Sale and Servicing Agreement dated as of December 1, 1997, (the "Agreement") by and among CPS Receivables Corp., Consumer Portfolio Services, Inc. as Servicer, Bankers Trust as Owner Trustee, and Norwest Bank Minnesota, National Association, as Indenture Trustee and as Collateral Agent, the Servicer is required to prepare certain information each month regarding current distributions to Noteholders and Certificateholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date and Collection Period listed above is set forth below. Certain of the information is presented on the basis of an original principal amount of $1,000 per Note, and certain other information is presented based upon the aggregate amounts for the Trust as a whole.
A. Information Regarding the Current Monthly Distribution: 1 Notes. (a) The aggregate amount of the distribution to Class A-1 Noteholders on the Distribution Date set forth above $2,517,798.20 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $180,301.70 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,337,496.50 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $45.16 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $3.23 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $41.93 (g) The aggregate amount of the distribution to Class A-2 Noteholders on the Distribution Date set forth above $187,600.00 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $187,600.00 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $0.00 (j) The amount of the distribution set forth in paragraph A.1. (g) above, per $1,000 $3.04 (k) The amount of the distribution set forth in paragraph A.1. (h) above, per $1,000 $0.00 (l) The amount of the distribution set forth in paragraph A.1. (i) above, per $1,000 $0.00 (m) The aggregate amount of the distribution to Certificateholders on the Distribution Date set forth above $161,640.59 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $34,593.03 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $127,047.56 (p) Scheduled Payments due in such Collection Period $2,407,542.17 (q) Scheduled Payments collected in such Collection Period $2,164,088.19 B. Information Regarding the Performance of the Trust. 1 Pool, Note and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $78,775,205.94 (b) The aggregate principal amount of the Securities as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c),(i),(o) above $71,207,834.68 (c) Aggregate principal amount of Notes as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c),(i) above $67,400,130.29 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8556008 (e) Aggregate principal amount of the Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(o) above $3,807,704.39 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0483363 2 Servicing Fee and Purchased Receivables. (a) The aggregate amount of the Servicing Fee (exclusive of the Standby Fee paid to the Standby Servicer) paid to the Servicer with respect to the Collection Period set forth above $150,136.42 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,938.76 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $2.69 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 $0.07 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Class A-1 Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Class A-2 Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (h) above $0.00 (c) The amount of the Class A Principal Carryover Shortfall after giving effect to the payments set forth in paragraph A.1.(c),(i) above $0.00 (d) The amount of the Class B Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (n) above $0.00 (e) The amount of the Class B Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (o) above $0.00 4 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $22,870,276.40 Spread Account Balance $2,497,099.05 (b) The change in the spread account on the Distribution Date set forth above $171,537.69 5 Policy. (a) The amount paid to the Noteholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Note Insurer on such Distribution Date $21,913.24 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $832,413.97 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 198 Aggregate Gross Amount $2,546,000.00 (d) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent 60 days or more Number 204 Aggregate Gross Amount $2,651,000.00 7 Performance Triggers. (a) Delinquency Ratio 6.12% (b) Average Delinquency Ratio 5.93% (c) Cumulative Default Ratio 5.00% (d) Cumulative Net Loss Ratio 3.17% (e) Is a Portfolio Performance Test violation continuing? No (f) Has an Insurance Agreement Event of Default occurred? No(a)
CPS AUTO RECEIVABLES TRUST 1997-5 STATEMENT TO NOTEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 3,072,957.82 LOCK BOX NSF ITEMS: (40,459.91) TOTAL COLLECTION PROCEEDS: 3,032,497.91 FOR DISTRIBUTION DATE: 10/15/98 FOR DETERMINATION DATE: 10/7/98 FOR COLLECTION PERIOD: 9/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 78,775,205.94 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 78,775,205.94 Principal portion of payments collected (non-prepayments) 918,989.61 Prepayments in full allocable to principal 339,926.00 Collections allocable to principal 1,258,915.61 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 449,621.70 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,708,537.31 Realized Losses 832,413.97 Cram Down Losses 0.00 Ending Principal Balance 76,234,254.66 INTEREST Collections allocable to interest $1,245,098.58 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 78,862.02 --------------- Total Interest $1,323,960.60 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 34,562,626.79 Beginning of Period Class A-2 Principal Balance 35,175,000.00 Beginning of Period Certificate Principal Balance 3,934,751.95 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 2,325,561.36 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 18,844.41 Scheduled Payments due in Collection Period 2,407,542.17 Scheduled Payments collected in Collection Period 2,164,088.19 Aggregate Amount of Realized Losses for preceding Distribution Date 832,413.97 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 151.19 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Note Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 198 2,546,000.00 60+ days delinquent 204 2,651,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 0 0.00 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close 5,197,000.00 of business on the last day of the related Collection Period. Principal Balance of all Receivables that became Purchased Receivables as of 0.00 the close of business on the last day of the related Collection Period and that were delinquent 30 days or more. Principal Balance of all Receivables that became Defaulted Receivables 750,588.62 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 5.88% Delinquency Ratio for third preceding Determination Date 5.78% Cumulative Defaults for preceding Determination Date 4,032,271.74 Cumulative Net Losses for preceding Determination Date 2,277,734.30 Does a Trigger Event Exist? N Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 2,504,014.19 Liquidation Proceeds 449,621.70 Recoveries 78,862.02 Purchase Amounts 0.00 Note Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 11,950.89 --------------- TOTAL DISTRIBUTION AMOUNT 3,044,448.80 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 918,989.61 Prepayments in full allocable to principal 339,926.00 Principal Balance of Liquidated Receivables 1,282,035.67 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,540,951.28 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 76,234,254.66 -------------- 68,610,829.19 Class A Noteholders' Percentage After the Target Payment Date? Yes Will the Class A-2 Notes be reduced to 0? No On or Prior to Target Payment Date 95.0% After Target Payment Date, before Payment Date when A-2 reduced to 0 91.0% On Payment Date when Class A-2 Notes will be reduced to 0 47.7% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 2,540,951.28 Times Class A Noteholders' Percentage 91% --------------- 2,312,265.66 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,312,265.66 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 34,562,626.79 Multiplied by the Note Rate 6.26% Multiplied by 30/360, or for the first Distribution Date, by 4/360 0.0833333 --------------- Class A Interest Distributable Amount 180,301.70 Class A-2 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 35,175,000.00 Multiplied by the Note Rate 6.40% Multiplied by 30/360, or for the first Distribution Date, by 4/360 0.0833333 --------------- Class A Interest Distributable Amount 187,600.00 Certificateholders Principal Distributable Amount Principal Distributable Amount 2,540,951.28 Times Certificate Percentage 5.0% --------------- Class B Principal Distributable Amount 127,047.56 Certificateholders' Interest Amount Total Distribution Amount 3,044,448.80 minus Class A Principal and Interest Distributable Amount 2,680,167.36 Beginning of Period Principal Balance of the Certificates 3,934,751.95 Multiplied by Note Pass-Through Rate 10.55% Multiplied by 30/360, or for the first Distribution Date, by 4/360 0.0833333 --------------- Certificate Coupon Interest Amount 34,593.03 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 34,593.03 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 127,047.56 Class B Principal Carryover Shortfall 0.00 Trustee distributions 807.65 Standby Servicer distributions 3,938.76 Servicer distributions 150,136.42 Collateral Agent distributions 613.94 Reimbursement Obligations 21,913.24 --------------- 25,230.83 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A-1 Interest Carryover Shortfall from previous period 0.00 Interest on Class A-1 Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A-1 Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A-2 Interest Carryover Shortfall from previous period Interest on Class A-2 Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A-2 Interest Shortfall Interest Earned 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(C) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 3,938.76 Servicing Fee (2.0%) 131,292.01 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 18,844.41 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Indenture Trustee Fee 656.46 Indenture Trustee's out-of-pocket expenses 151.19 Unpaid Indenture Trustee Fee from prior Collection Periods 0.00 Unpaid Indenture Trustee's out-of-pocket exp. - prior Collection Periods 0.00 Owner Trustee Fee 0.00 Owner Trustee's out-of-pocket expenses 0.00 Unpaid Owner Trustee Fee from prior Collection Periods 0.00 Unpaid Owner Trustee's out-of-pocket exp - prior Collection Periods 0.00 (iv) Collateral Agent Fee 613.94 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v)(A) Class A-1 Interest Distributable Amount - Current Month 180,301.70 Prior Month(s) Class A-1 Interest Carryover Shortfall 0.00 Class A-1 Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A-1 Interest Carryover Shortfall 0.00 Class A-1 Interest Distributable Amount 180,301.70 (B) Class A-2 Interest Distributable Amount - Current Month 187,600.00 Prior Month(s) Class A-2 Interest Carryover Shortfall 0.00 Class A-2 Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A-2 Interest Carryover Shortfall 0.00 Class A-2 Interest Distributable Amount 187,600.00 (vi)(A)Certificate Note Interest - Unadjusted 34,593.03 Certificate Note Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on B Interest Carryover from Prior Months 0.00 Current Month Certificate Interest Shortfall 0.00 Adjusted Certificate Note Interest Distributable Amount 34,593.03 (vii) Class A Principal Distributable Amount - Current Month 2,312,265.66 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount to Class A-1 2,312,265.66 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 21,913.24 Note Insurer Premium Supplement 0.00 Other Reimbursement Obligations to Note Insurer 0.00 (ix) Transition Expenses to successor Servicer 0.00 (x) Certificate Principal Distributable Amount - Current Month Unadjusted 127,047.56 Certificate Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Certificate Principal Shortfall 0.00 Adjusted Certificate Principal Distributable Amount 127,047.56 (xi) Until the Target Payment Date, remaining amount to Class A Noteholders 25,230.83 Amount to Class A-1 Noteholders 25,230.83 Amount to Class A-2 Noteholders 0.00 (xiv) After the Target Pmt. Date, remaining amount into Spread Acct. 0.00 Spread Account Withdrawal to cover deficiencies 0.00 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ---------------------------------------------------- (a) Requisite levels for spread accounts reflect insurance defaults on pools 1995-4, 1996-1, FASCO 1996-1, and 1997-1.
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 34,562,626.79 Class A-1 Principal Distributions 2,312,265.66 Class A-1 End of Period Principal Amount (prior to turbo) 32,250,361.13 Additional Principal Distribution 25,230.83 Class A-1 End of Period Principal Amount 32,225,130.29 Class A-2 Beginning of Period Principal Amount 35,175,000.00 Class A-2 Principal Distributions 0.00 Class A-2 End of Period Principal Amount (prior to turbo) 35,175,000.00 Additional Principal Distribution 0.00 Class A-2 End of Period Principal Amount 35,175,000.00 Certificate Beginning of Period Principal Amount 3,934,751.95 Certificate Principal Distributable Amount 127,047.56 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 3,807,704.39 Withdrawal from Spread Account to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 3,807,704.39 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 3,044,448.80 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 523,398.47 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,521,050.33 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 2,521,050.33 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 34,593.03 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 2,486,457.30 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 2,486,457.30 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 2,312,265.66 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 174,191.64 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 174,191.64 (vi) Note Insurer Premium 21,913.24 (v) Note Insurer Premium Supplement 0.00 Deficiency Amount 0.00 Withdrawal from Spread Account to Cover Deficiency 0.00 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 152,278.39 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 152,278.39 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 127,047.56 (iii)Prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Unadjusted Amount Remaining for Further Distribution/(Deficiency) 25,230.83 Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 25,230.83 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 5,197,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 5,197,000.00 Aggregate Gross Principal Balance as of the close of 84,964,473.70 business on the last day of the Collection Period. DELINQUENCY RATIO 6.12% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 6.12% Delinquency Ratio for second preceding Determination Date 5.88% Delinquency Ratio for third preceding Determination Date 5.78% ---------------- Average Delinquency Ratio 5.93% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 4,032,271.74 Current Period Defaulted Receivables 750,588.62 --------------- Total 4,782,860.36 Cumulative Defaulted Receivables 4,782,860.36 Original Pool Balance 95,706,307.00 Cumulative Default Ratio 5.00% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,282,035.67 Cram Down Losses 0.00 Net Liquidation Proceeds (528,483.72) --------------- Net Liquidation Losses 753,551.95 Cumulative Previous Net Losses 2,277,734.30 --------------- Cumulative Net Losses 3,031,286.25 Original Pool Balance 95,706,307.00 Cumulative Net Loss Ratio 3.17% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.00 Weighted Average Remaining Term 46.91 Weighted Average Annual Percentage Rate 20.22% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 76,234,254.66 minus the Securities Balance 71,207,834.68 --------------- 5,026,419.98 divided by the Aggregate Principal Balance 6.59% Floor OC Percent Aggregate Principal Balance 76,234,254.66 minus the Securities Balance 71,207,834.68 --------------- 5,026,419.98 divided by the initial Aggregate Principal Balance 95,706,307.00 --------------- 5.25% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 71,207,834.68 (ii) the sum of (A) 2% of the sum of 2.00% (I) initial Aggregate Principal Balance 95,706,307.00 (II) balance of all Subsequent Receivables 0.00 --------------- 1,914,126.14 (B) the product of (I) excess of 1% over the Floor OC Percent 0.00% (II) initial Aggregate Principal Balance 95,706,307.00 --------------- 0.00 Floor Amount 1,914,126.14 Requisite Amount the greater of (1) the Floor Amount 1,914,126.14 (2) the product of: if no Trigger Event, 9% minus the OC Percent 2.4% if a Trigger Event, 15% minus the OC Percent 8.4% if a Portfolio Performance Event of Default, 30% minus the OC Percent 23.4% if an Insurance Agreement Event of Default, 30% 30% 30% times the Aggregate Principal Balance 76,234,254.66 --------------- 22,870,276.40 Requisite Amount 22,870,276.40 Does a Trigger Event exist? N Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) Required Spread Account Amount 22,870,276.40 Beginning of Period Spread Account Balance 2,325,561.36 Reversal of August 1998 Cash Releases 160,362.87 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 20,384,352.17 Earnings on Spread Account Balance 11,174.82 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 2,497,099.05 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1998-1 6.00% ASSET-BACKED CERTIFICATES, CLASS A 10.25% ASSET-BACKED CERTIFICATES, CLASS B Distribution Date 10/15/98 Collection Period 9/98 Under the Pooling and Servicing Agreement dated as of March 16, 1998 (the "Agreement") by and among CPS Receivables Corp., Consumer Portfolio Services, Inc. as Servicer, and Norwest Bank Minnesota, National Association, as Trustee and as Collateral Agent, the Servicer is required to prepare certain information each month regarding current distributions to Certificateholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date and Collection Period listed above is set forth below. Certain of the information is presented on the basis of an original principal amount of $1,000 per Certificate, and certain other information is presented based upon the aggregate amounts for the Trust as a whole.
A. Information Regarding the Current Monthly Distribution: 1 Certificates. (a) The aggregate amount of the distribution to Class A Certificateholders on the Distribution Date set forth above $5,117,838.47 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $804,739.06 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $4,313,099.41 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $28.82 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $4.53 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $24.28 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $299,361.15 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $72,355.92 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $227,005.23 (j) Scheduled Payments due in such Collection Period $5,020,061.48 (k) Scheduled Payments collected in such Collection Period $4,563,151.14 B. Information Regarding the Performance of the Trust. 1 Pool Balance and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $169,418,749.66 (b) The aggregate balance of the Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c) above $164,878,645.02 (c) The Pool factor as of the close of business on the last day set forth above 0.9732019 2 Servicing Fee and Purchased Receivables. (a) The aggregate amount of the Servicing Fee (exclusive of the Standby Fee paid to the Standby Servicer) paid to the Servicer with respect to the Collection Period set forth above $312,832.30 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,529.56 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.76 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $0.02 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 1 Aggregate Purchase Amount $12,014.70 3 Payment Shortfalls. (a) The amount of the Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (c) above $0.00 4 Payahead Account. (a) The aggregate Payahead Balance on the prior Distribution Date $43,579.40 (b) Distributions (to) from Collection Account ($2,461.84) for Payaheads (c) Interest earned on Payahead Balances $433.00 (d) Ending Payahead Account Balance $41,550.56 5 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $49,463,593.51 Spread Account Balance $21,198,103.24 (b) The change in the spread account on the Distribution Date set forth above $487,932.60 6 Policy. (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $53,516.86 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,161,143.77 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 415 Aggregate Gross Amount $5,340,000.00 (d) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent 60 days or more Number 395 Aggregate Gross Amount $5,202,000.00 8 Performance Triggers. (a) Delinquency Ratio 5.73% (b) Average Delinquency Ratio 5.33% (c) Cumulative Default Ratio 2.46% (d) Cumulative Net Loss Ratio 1.01% (e) Is a Portfolio Performance Test violation continuing? No (f) Has an Insurance Agreement Event of Default occurred? Yes
CPS AUTO GRANTOR TRUST 1998-1 STATEMENT TO CERTIFICATEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 6,272,278.95 LOCK BOX NSF ITEMS: (101,008.93) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 2,461.84 COLLECTION ACCOUNT INTEREST 22,891.34 PAYAHEAD ACCOUNT INTEREST 433.00 TOTAL COLLECTION PROCEEDS: 6,197,056.20 FOR DISTRIBUTION DATE: 10/15/98 FOR DETERMINATION DATE: 10/7/98 FOR COLLECTION PERIOD: 9/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 169,418,749.66 Principal portion of payments collected (non-prepayments) 1,761,945.39 Prepayments in full allocable to principal 819,290.00 Collections allocable to principal 2,581,235.39 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 785,710.78 Purchase Amounts allocable to principal 12,014.70 --------------- Total Principal 3,378,960.87 Realized Losses 1,161,143.77 Cram Down Losses 0.00 Ending Principal Balance 164,878,645.02 INTEREST Collections allocable to interest 2,801,205.75 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 16,889.58 --------------- Total Interest 2,818,095.33 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 160,947,812.50 Beginning of Period Class B Principal Balance 8,470,937.16 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 20,710,170.64 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 30,467.72 Aggregate Payahead Balance 41,117.56 Aggregate Payahead Balance for preceding Distribution Date 43,579.40 Interest Earned on Payahead Balances 433.00 Scheduled Payments due in Collection Period 5,020,061.48 Scheduled Payments collected in Collection Period 4,563,151.14 Aggregate Amount of Realized Losses for preceding Distribution Date 1,161,143.77 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 5,960.46 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Certificate Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 415 5,340,000.00 60+ days delinquent 395 5,202,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 1 12,014.70 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close 10,542,000.00 of business on the last day of the related Collection Period. Principal Balance of all Receivables that became Purchased Receivables as of 12,014.70 the close of business on the last day of the related Collection Period and that were delinquent 30 days or more. Principal Balance of all Receivables that became Defaulted Receivables 1,225,309.47 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 5.35% Delinquency Ratio for third preceding Determination Date 4.92% Cumulative Defaults for preceding Determination Date 3,380,778.56 Cumulative Net Losses for preceding Determination Date 737,705.22 Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 5,382,441.14 Liquidation Proceeds 785,710.78 Recoveries 16,889.58 Purchase Amounts 12,014.70 Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 0.00 Investment earnings from Payahead Account 0.00 --------------- TOTAL DISTRIBUTION AMOUNT 6,197,056.20 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,761,945.39 Prepayments in full allocable to principal 819,290.00 Principal Balance of Liquidated Receivables 1,946,854.55 Purchase Amounts allocable to principal 12,014.70 Cram Down Losses 0.00 --------------- Principal Distributable Amount 4,540,104.64 Class A Principal Distributable Amount Principal Distributable Amount 4,540,104.64 Times Class A Percentage (95%) 95% --------------- 4,313,099.41 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 4,313,099.41 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 160,947,812.50 Multiplied by Certificate Pass-Through Rate 6.00% Multiplied by 30/360, or for the first Distribution Date, by 30/360 0.0833333 --------------- Class A Interest Distributable Amount 804,739.06 Class B Principal Distributable Amount Principal Distributable Amount 4,540,104.64 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 227,005.23 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 8,470,937.16 Multiplied by Certificate Pass-Through Rate 10.25% Multiplied by 30/360, or for the first Distribution Date, by 30/360 0.0833333 --------------- Class B Coupon Interest Amount 72,355.92 Class B Excess Interest Amount Total Distribution Amount 6,197,056.20 minus Class A Principal and Interest Distributable Amount 5,117,838.47 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 72,355.92 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 227,005.23 Class B Principal Carryover Shortfall 0.00 Trustee distributions 7,372.28 Standby Servicer distributions 3,529.56 Servicer distributions 312,832.30 Collateral Agent distributions 1,411.82 Reimbursement Obligations 53,516.86 --------------- 401,193.76 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A Interest Carryover Shortfall from previous period 0.00 Interest on Class A Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(C) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 3,529.56 Servicing Fee (2.0%) 282,364.58 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 30,467.72 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Trustee Fee 1,411.82 Trustee's out-of-pocket expenses 5,960.46 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 1,411.82 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v)(A) Class A Interest Distributable Amount - Current Month 804,739.06 Prior Month(s) Class A Carryover Shortfall 0.00 Class A Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A Interest Carryover Shortfall 0.00 Class A Interest Distributable Amount 804,739.06 (viii)(A)Class B Coupon Interest - Unadjusted 72,355.92 Class B Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class B Interest Shortfall 0.00 Adjusted Class B Interest Distributable Amount 72,355.92 (v)(B) Class A Principal Distributable Amount - Current Month 4,313,099.41 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount 4,313,099.41 (vi) Certificate Insurer Premium 53,516.86 Certificate Insurer Premium Supplement 0.00 Other Reimbursement Obligations to Certificate Insurer 0.00 (vii) Transition Expenses to successor Servicer 0.00 Class B Principal Distributable Amount - Current Month Unadjusted 227,005.23 Class B Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class B Principal Shortfall 0.00 Adjusted Class B Principal Distributable Amount 227,005.23 Excess Interest (Shortage) Amount for Deposit to (withdrawal from) Spread Account 401,193.76 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ---------------------------------------------------- (a) Requisite levels for spread accounts reflect insurance defaults on pools 1995-4, 1996-1, FASCO 1996-1, and 1997-1.
CERTIFICATE BALANCE Class A Beginning of Period Principal Balance 160,947,812.50 Class A Principal Distributions 4,313,099.41 Class A End of Period Principal Balance 156,634,713.09 Class B Beginning of Period Principal Balance 8,470,937.16 Class B Principal Distributable Amount 227,005.23 Class B End of Period Principal Balance BEFORE Spread Account Distributions 8,243,931.93 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 8,243,931.93 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 6,197,056.20 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 1,129,885.02 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 5,067,171.18 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 5,067,171.18 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 72,355.92 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 4,994,815.26 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 4,994,815.26 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 4,313,099.41 (iii) Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 681,715.85 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 681,715.85 (vi) Certificate Insurer Premium 53,516.86 (v) Certificate Insurer Premium Supplement 0.00 Deficiency Amount 0.00 Withdrawal from Spread Account to Cover Deficiency 0.00 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 628,198.99 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 628,198.99 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 227,005.23 (iii) Prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Unadjusted Amount Remaining for Further Distribution/(Deficiency) 401,193.76 Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 401,193.76 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 10,542,000.00 Purchased receivables more than 30 days delinquent 12,014.70 --------------- Total 10,554,014.70 Aggregate Gross Principal Balance as of the close of 184,346,290.82 business on the last day of the Collection Period. DELINQUENCY RATIO 5.73% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 5.73% Delinquency Ratio for second preceding Determination Date 5.35% Delinquency Ratio for third preceding Determination Date 4.92% --------------- Average Delinquency Ratio 5.33% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 3,380,778.56 Current Period Defaulted Receivables 1,225,309.47 --------------- Total 4,606,088.03 Cumulative Defaulted Receivables 4,606,088.03 Original Pool Balance 186,954,818.61 Cumulative Default Ratio 2.46% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,946,854.55 Cram Down Losses 0.00 Net Liquidation Proceeds (802,600.36) --------------- Net Liquidation Losses 1,144,254.19 Cumulative Previous Net Losses 737,705.22 --------------- Cumulative Net Losses 1,881,959.41 Original Pool Balance 186,954,818.61 Cumulative Net Loss Ratio 1.01% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.10 Weighted Average Remaining Term 49.66 Weighted Average Annual Percentage Rate 20.34% SPREAD ACCOUNT Spread Account Cap 13.5% of Outstanding Certificate Balance 22,258,617.08 18.5% of Outstanding Certificate Balance 30,502,549.33 Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) --------------- Cap Amount 49,463,593.51 Spread Account Floor 3% of the Initial Certificate Balance 5,608,644.56 Outstanding Certificate Balance 164,878,645.02 Minimum Floor 100,000.00 --------------- Floor Amount 5,608,644.56 Required Spread Account Amount 49,463,593.51 Beginning of Period Spread Account Balance 20,710,170.64 Spread Account Deposit (Withdrawal) from Current Distributions 401,193.76 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Allocations of cash releases from previous pools 0.00 Required addition to/(eligible withdrawal from) Spread Account 28,352,229.11 Earnings on Spread Account Balance 86,738.84 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 21,198,103.24 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1998-2 6.09% CLASS A ASSET-BACKED CERTIFICATES 10.34% CLASS B ASSET-BACKED CERTIFICATES Distribution Date 10/15/98 Collection Period 9/98 Under the Pooling and Servicing Agreement dated as of April 8, 1998 (the "Agreement") by and among CPS Receivables Corp., Consumer Portfolio Services, Inc. as Servicer, and Norwest Bank Minnesota, National Association, as Trustee and as Collateral Agent, the Servicer is required to prepare certain information each month regarding current distributions to Certificateholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date and Collection Period listed above is set forth below. Certain of the information is presented on the basis of an original principal amount of $1,000 per Certificate, and certain other information is presented based upon the aggregate amounts for the Trust as a whole.
A. Information Regarding the Current Monthly Distribution: 1 Certificates. (a) The aggregate amount of the distribution to Class A Certificateholders on the Distribution Date set forth above $4,180,717.24 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $963,968.42 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $3,216,748.82 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $20.85 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $4.81 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $16.04 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above (given to the Collateral Agent for deposit into the Spread Account) $255,444.07 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $86,141.50 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $169,302.57 (j) Scheduled Payments due in such Collection Period $5,781,287.54 (k) Scheduled Payments collected in such Collection Period $5,290,439.06 B. Information Regarding the Performance of the Trust. 1 Certificate Balances. (a) The original aggregate Principal Balance of the Certificates as of the closing date $211,042,290.00 (b) The aggregate principal balance of the Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A 1 (c) above $196,555,544.72 (c) The Aggregate Pool factor as of the close of business on the last day set forth above 0.9313562 2 Servicing Fee and Purchased Receivables. (a) The aggregate amount of the Servicing Fee (exclusive of the Standby Fee paid to the Standby Servicer) paid to the Servicer with respect to the Collection Period set forth above $366,133.66 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $4,165.45 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.83 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $0.02 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 8 Aggregate Purchase Amount $98,724.04 3 Payment Shortfalls. (a) The amount of the Class A Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Class A Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (c) above $0.00 (c) The amount of the Class B Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (h) above $0.00 (d) The amount of the Class B Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (i) above $0.00 4 Payahead Account. (a) The aggregate Payahead Balance on the prior Distribution Date $42,325.61 (b) Distributions (to) from Collection Account ($5,898.76) for Payaheads (c) Interest earned on Payahead Balances $333.92 (d) Ending Payahead Account Balance $36,760.77 5 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $58,966,663.42 Spread Account Balance $18,828,290.09 (b) The change in the spread account on the Distribution Date set forth above $1,647,489.19 6 Policy. (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $63,798.65 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $296,747.33 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 491 Aggregate Gross Amount $6,628,000.00 (d) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent 60 days or more Number 390 Aggregate Gross Amount $5,244,000.00 8 Performance Triggers. (a) Delinquency Ratio 5.51% (b) Average Delinquency Ratio 4.54% (c) Cumulative Default Ratio 0.83% (d) Cumulative Net Loss Ratio 0.16% (e) Is a Portfolio Performance Test violation continuing? No (f) Has an Insurance Agreement Event of Default occurred? No(a)
CPS AUTO GRANTOR TRUST 1998-2 STATEMENT TO CERTIFICATEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 6,531,094.72 LOCK BOX NSF ITEMS: (104,790.78) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 5,898.76 COLLECTION ACCOUNT INTEREST 23,801.26 PAYAHEAD ACCOUNT INTEREST 333.92 TOTAL COLLECTION PROCEEDS: 6,456,337.88 FOR DISTRIBUTION DATE: 10/15/98 FOR DETERMINATION DATE: 10/7/98 FOR COLLECTION PERIOD: 9/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 199,941,596.67 Principal portion of payments collected (non-prepayments) 1,928,172.09 Prepayments in full allocable to principal 757,407.00 Collections allocable to principal 2,685,579.09 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 305,000.93 Purchase Amounts allocable to principal 98,724.04 --------------- Total Principal 3,089,304.06 Realized Losses 296,747.33 Cram Down Losses 0.00 Ending Principal Balance 196,555,545.28 INTEREST Collections allocable to interest 3,362,266.97 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 4,766.85 --------------- Total Interest 3,367,033.82 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 189,944,516.81 Beginning of Period Class B Principal Balance 9,997,079.30 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 17,180,800.90 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 32,897.67 Aggregate Payahead Balance 36,426.85 Aggregate Payahead Balance for preceding Distribution Date 42,325.61 Interest Earned on Payahead Balances 333.92 Scheduled Payments due in Collection Period 5,781,287.54 Scheduled Payments collected in Collection Period 5,290,439.06 Aggregate Amount of Realized Losses for preceding Distribution Date 296,747.33 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 4,045.74 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Certificate Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 491 6,628,000.00 60+ days delinquent 390 5,244,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 8 98,724.04 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close 11,872,000.00 of business on the last day of the related Collection Period. Principal Balance of all Receivables that became Purchased Receivables as of 98,724.04 the close of business on the last day of the related Collection Period and that were delinquent 30 days or more. Principal Balance of all Receivables that became Defaulted Receivables 1,039,389.04 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 4.57% Delinquency Ratio for third preceding Determination Date 3.55% Cumulative Defaults for preceding Determination Date 704,419.23 Cumulative Net Losses for preceding Determination Date 44,719.31 Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 6,047,846.06 Liquidation Proceeds 305,000.93 Recoveries 4,766.85 Purchase Amounts 98,724.04 Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 0.00 Investment earnings from Payahead Account 0.00 --------------- TOTAL DISTRIBUTION AMOUNT 6,456,337.88 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,928,172.09 Prepayments in full allocable to principal 757,407.00 Principal Balance of Liquidated Receivables 601,748.26 Purchase Amounts allocable to principal 98,724.04 Cram Down Losses 0.00 --------------- Principal Distributable Amount 3,386,051.39 Class A Principal Distributable Amount Principal Distributable Amount 3,386,051.39 Times Class A Percentage (95%) 95% --------------- 3,216,748.82 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 3,216,748.82 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 189,944,516.81 Multiplied by Certificate Pass-Through Rate 6.09% Multiplied by 30/360 0.0833333 --------------- Class A Interest Distributable Amount 963,968.42 Class B Principal Distributable Amount Principal Distributable Amount 3,386,051.39 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 169,302.57 Class B Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 9,997,079.30 Multiplied by Certificate Pass-Through Rate 10.34% Multiplied by 30/360 0.0833333 --------------- Class B Coupon Interest Amount 86,141.50 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A Interest Carryover Shortfall from previous period 0.00 Interest on Class A Interest Carryover Shortfall 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(C) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 4,165.45 Servicing Fee (2.0%) 333,235.99 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 32,897.67 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Trustee Fee 1,249.63 Trustee's out-of-pocket expenses 4,045.74 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 1,249.63 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v) Class A Interest Distributable Amount - Unadjusted 963,968.42 Prior Month(s) Class A Carryover Shortfall 0.00 Class A Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A Interest Carryover Shortfall 0.00 Class A Interest Distributable Amount 963,968.42 (vi) Class B Coupon Interest - Unadjusted 86,141.50 Class B Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class B Interest Shortfall 0.00 Adjusted Class B Interest Distributable Amount 86,141.50 (vii) Class A Principal Distributable Amount - Current Month 3,216,748.82 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount 3,216,748.82 (viii) Certificate Insurer Premium 63,798.65 Certificate Insurer Premium Supplement 0.00 Other Reimbursement Obligations to Certificate Insurer 0.00 (ix) Transition Expenses to successor Servicer 0.00 (x) Class B Principal Distributable Amount - Unadjusted 169,302.57 Class B Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class B Principal Carryover Shortfall 0.00 Adjusted Class B Principal Distributable Amount 169,302.57 (xi) Remaining amounts to Collateral Agent for deposit in Spread Account 1,579,533.81 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ---------------------------------------------------- (a) Requisite levels for spread accounts reflect insurance defaults on pools 1995-4, 1996-1, FASCO 1996-1, and 1997-1.
CERTIFICATE BALANCE Class A Beginning of Period Principal Balance 189,944,516.81 Class A Principal Distributions 3,216,748.82 Class A End of Period Principal Balance 186,727,767.99 Class B Beginning of Period Principal Balance 9,997,079.30 Class B Principal Distributable Amount 169,302.57 Class B End of Period Principal Balance BEFORE Spread Account Distributions 9,827,776.73 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 9,827,776.73 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 6,456,337.88 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 1,340,812.53 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 5,115,525.35 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 5,115,525.35 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 86,141.50 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 5,029,383.85 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 5,029,383.85 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 3,216,748.82 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 1,812,635.03 OTHER DEFICIENCIES - INSURANCE (i) Amounts available to make payments for insurance 1,812,635.03 Certificate Insurer Premium 63,798.65 Certificate Insurer Premium Supplement 0.00 Deficiency Amount 0.00 Withdrawal from Spread Account to Cover Deficiency 0.00 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 1,748,836.38 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 1,748,836.38 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 169,302.57 (iii)Prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Unadjusted Amount Remaining for Further Distribution/(Deficiency) 1,579,533.81 Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 1,579,533.81 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 11,872,000.00 Purchased receivables more than 30 days delinquent 98,724.04 --------------- Total 11,970,724.04 Aggregate Gross Principal Balance as of the close of 217,254,354.62 business on the last day of the Collection Period. Delinquency Ratio 5.51% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 5.51% Delinquency Ratio for second preceding Determination Date 4.57% Delinquency Ratio for third preceding Determination Date 3.55% --------------- Average Delinquency Ratio 4.54% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 704,419.23 Current Period Defaulted Receivables 1,039,389.04 --------------- Total 1,743,808.27 Cumulative Defaulted Receivables 1,743,808.27 Original Pool Balance 211,042,290.56 Cumulative Default Ratio 0.83% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 601,748.26 Cram Down Losses 0.00 Net Liquidation Proceeds (309,767.78) --------------- Net Liquidation Losses 291,980.48 Cumulative Previous Net Losses 44,719.31 --------------- Cumulative Net Losses 336,699.79 Original Pool Balance 211,042,290.56 Cumulative Net Loss Ratio 0.16% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.46 Weighted Average Remaining Term 52.13 Weighted Average Annual Percentage Rate 20.40% SPREAD ACCOUNT Spread Account Cap 13.5% of Outstanding Certificate Balance 26,534,998.54 19.5% of Outstanding Certificate Balance 38,328,331.22 Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) --------------- Cap Amount 58,966,663.42 Spread Account Floor 3% of the Initial Certificate Balance 6,331,268.70 Outstanding Certificate Balance 196,555,544.72 Minimum Floor 100,000.00 --------------- Floor Amount 6,331,268.70 Required Spread Account Amount 58,966,663.42 Beginning of Period Spread Account Balance 17,180,800.90 Spread Account Deposit (Withdrawal) from Current Distributions 1,579,533.81 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 40,206,328.71 Earnings on Spread Account Balance 67,955.38 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 18,828,290.09 Reserve Fund Initial Class B Certificate Balance 10,552,114.40 Aggregate Pool Factor 0.9313562 Class B Principal % 5.00% Have both tests for Reserve Fund reduction been satisfied? (Y/N) N Requisite Amount If both tests for reduction have NOT been met, then 10% of Original Class B Outstanding Certificate Balance 1,055,211.40 otherwise 10% of Class B Outstanding Certificate Balance 982,777.67 or Cap Amount 1,055,211.40 Reserve Fund Floor Outstanding Class B Certificate Balance 9,827,776.73 Minimum Floor 300,000.00 --------------- Floor Amount 300,000.00 Required Reserve Fund Amount 1,055,211.40 Beginning of Period Reserve Fund Balance 1,055,211.40 Reserve Fund Deposit (Withdrawal) from Current Distributions 0.00 Required addition to/(eligible withdrawal from) Reserve Fund 0.00 Earnings on Reserve Fund Balance 4,410.35 Amount of Reserve Fund deposit (withdrawal) (4,410.35) Ending Reserve Fund Balance 1,055,211.40 MONTHLY NOTEHOLDER STATEMENT CPS AUTO RECEIVABLES TRUST 1998-3 5.6375% ASSET-BACKED NOTES, CLASS A-1 5.8550% ASSET-BACKED NOTES, CLASS A-2 5.9950% ASSET-BACKED NOTES, CLASS A-3 6.0800% ASSET-BACKED NOTES, CLASS A-4 Distribution Date 10/15/98 Collection Period 9/98 Under the Sale and Servicing Agreement dated as of July 8, 1998 (the "Agreement") by and among CPS Receivables Corp., Consumer Portfolio Services, Inc. as Servicer, Bankers Trust as Owner Trustee, and Norwest Bank Minnesota, National Association, as Indenture Trustee and as Collateral Agent, the Servicer is required to prepare certain information each month regarding current distributions to Noteholders and Certificateholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date and Collection Period listed above is set forth below. Certain of the information is presented on the basis of an original principal amount of $1,000 per Note, and certain other information is presented based upon the aggregate amounts for the Trust as a whole.
A. Information Regarding the Current Monthly Distribution: 1 Notes. (a) The aggregate amount of the distribution to Class A-1 Noteholders on the Distribution Date set forth above $5,842,317.60 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $121,243.98 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $5,721,073.62 (d) The amount of the distribution set forth in paragraph A.1. (a) above $162.29 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $3.37 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $158.92 (g) The aggregate amount of the distribution to Class A-2 Noteholders on the Distribution Date set forth above $448,883.33 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $448,883.33 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $0.00 (j) The amount of the distribution set forth in paragraph A.1. (g) above, per $1,000 $4.88 (k) The amount of the distribution set forth in paragraph A.1. (h) above, per $1,000 $4.88 (l) The amount of the distribution set forth in paragraph A.1. (i) above, per $1,000 $0.00 (m) The aggregate amount of the distribution to Class A-3 Noteholders on the Distribution Date set forth above $124,895.83 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $124,895.83 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $0.00 (p) The amount of the distribution set forth in paragraph A.1. (m) above, per $1,000 $5.00 (q) The amount of the distribution set forth in paragraph A.1. (n) above, per $1,000 $5.00 (r) The amount of the distribution set forth in paragraph A.1. (o) above, per $1,000 $0.00 (s) The aggregate amount of the distribution to Class A-4 Noteholders on the Distribution Date set forth above $418,162.13 (t) The amount of the distribution set forth in paragraph A.1. (s) above in respect of interest $418,162.13 (u) The amount of the distribution set forth in in paragraph A.1. (s) above in respect of principal $0.00 (v) The amount of the distribution set forth in paragraph A.1. (s) above, per $1,000 $0.00 (w) The amount of the distribution set forth in paragraph A.1. (t) above, per $1,000 $5.07 (x) The amount of the distribution set forth in paragraph A.1. (u) above, per $1,000 $0.00 B. Information Regarding the Performance of the Trust. 1 Pool and Notes Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $234,623,252.86 (b) The aggregate principal amount of the Securities as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c),(i),(o),(u) above $219,618,957.44 (c) The Note Pool Factor as of the close of business on the last day set forth above 0.9360494 2 Servicing Fee and Purchased Receivables. (a) The aggregate amount of the Servicing Fee (exclusive of the Standby Fee paid to the Standby Servicer) paid to the Servicer with respect to the Collection Period set forth above $421,794.12 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $4,887.98 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $11.72 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 $0.02 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 32 Aggregate Purchase Amount $420,595.27 3 Payment Shortfalls. (a) The amount of the Class A-1 Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Class A-2 Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (h) above $0.00 (c) The amount of the Class A-3 Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (n) above $0.00 (d) The amount of the Class A-4 Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (t) above $0.00 (e) The amount of the Class A Principal Carryover Shortfall after giving effect to the payments set forth in paragraph A.1.(c),(i),(o),(u) above $0.00 4 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $80,954,665.23 Spread Account Balance $19,367,306.90 (b) The change in the spread account on the Distribution Date set forth above $86,558.36 5 Policy (a) The amount paid to the Noteholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Note Insurer on such Distribution Date $122,145.27 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $27,074.42 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 410 Aggregate Gross Amount $5,495,000.00 (d) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent 60 days or more Number 224 Aggregate Gross Amount $3,042,000.00 7 Performance Triggers (a) Delinquency Ratio 3.52% (b) Average Delinquency Ratio 2.30% (c) Cumulative Default Ratio 0.05% (d) Cumulative Net Loss Ratio 0.01% (e) Is a Portfolio Performance Test violation continuing? No (f) Has an Insurance Agreement Event of Default occurred? No(a)
CPS AUTO RECEIVABLES TRUST 1998-3 STATEMENT TO NOTEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 7,495,793.24 LOCK BOX NSF ITEMS: (130,918.06) TOTAL COLLECTION PROCEEDS: 7,364,875.18 FOR DISTRIBUTION DATE: 10/15/98 FOR DETERMINATION DATE: 10/7/98 FOR COLLECTION PERIOD: 9/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 234,623,252.86 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 234,623,252.86 Principal portion of payments collected (non-prepayments) 2,128,151.67 Prepayments in full allocable to principal 719,105.00 Collections allocable to principal 2,847,256.67 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 29,283.00 Purchase Amounts allocable to principal 420,595.27 --------------- Total Principal 3,297,134.94 Realized Losses 27,074.42 Cram Down Losses 0.00 Ending Principal Balance 231,299,043.50 PREFUNDING Original Amount in Prefunding Account N/A Subsequent Loans Sold to the Trust N/A Balance of Prefunding Account N/A INTEREST Collections allocable to interest 4,066,997.78 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 742.46 --------------- Total Interest 4,067,740.24 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 25,808,031.06 Beginning of Period Class A-2 Principal Balance 92,000,000.00 Beginning of Period Class A-3 Principal Balance 25,000,000.00 Beginning of Period Class A-4 Principal Balance 82,532,000.00 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 19,280,748.54 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 30,755.37 Scheduled Payments collected in Collection Period 6,195,149.45 Aggregate Amount of Realized Losses for preceding Distribution Date 27,074.42 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 3,674.28 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Note Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 410 5,495,000.00 60+ days delinquent 224 3,042,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 32 420,595.27 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close 8,537,000.00 of business on the last day of the related Collection Period. Principal Balance of all Receivables that became Purchased Receivables as of 420,595.27 the close of business on the last day of the related Collection Period and that were delinquent 30 days or more. Principal Balance of all Receivables that became Defaulted Receivables 118,733.95 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 2.29% Delinquency Ratio for third preceding Determination Date 1.10% Cumulative Defaults for preceding Determination Date 0.00 Cumulative Net Losses for preceding Determination Date 1,321.40 Does a Trigger Event Exist? N Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 6,914,254.45 Liquidation Proceeds 29,283.00 Recoveries 742.46 Purchase Amounts 420,595.27 Note Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Excess released from Prefunding Account 0.00 Investment earnings from Note Distribution Account 1,277.96 Investment earnings from Prefunding Account 0.00 Investment earnings from Interest Reserve Account 0.00 Investment earnings from Collection Account 23,482.18 --------------- TOTAL DISTRIBUTION AMOUNT 7,389,635.32 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 2,128,151.67 Prepayments in full allocable to principal 719,105.00 Principal Balance of Liquidated Receivables 56,357.42 Purchase Amounts allocable to principal 420,595.27 Cram Down Losses 0.00 --------------- Principal Distributable Amount 3,324,209.36 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 231,299,043.50 --------------- 208,169,139.15 Class A Noteholders' Percentage After the Target Payment Date? No Will the Class A-2 Notes be reduced to 0? No On or Prior to Target Payment Date 98.0% After Target Payment Date, before Payment Date when A-2 reduced to 0 90.0% On Payment Date when Class A-2 Notes will be reduced to 0 40.8% --------------- 98.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 3,324,209.36 Times Class A Noteholders' Percentage 98% --------------- 3,257,725.17 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 3,257,725.17 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 25,808,031.06 Multiplied by the Note Rate 5.6375% Multiplied by actual/360, or for the first Distribution Date, by 18/360 0.0833333 --------------- Class A Interest Distributable Amount 121,243.98 Class A-2 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 92,000,000.00 Multiplied by the Note Rate 5.8550% Multiplied by 30/360, or for the first Distribution Date, by 17/360 0.0833333 --------------- Class A Interest Distributable Amount 448,883.33 Class A-3 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 25,000,000.00 Multiplied by the Note Rate 5.9950% Multiplied by 30/360, or for the first Distribution Date, by 17/360 0.0833333 --------------- Class A Interest Distributable Amount 124,895.83 Class A-4 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 82,532,000.00 Multiplied by the Note Rate 6.0800% Multiplied by 30/360, or for the first Distribution Date, by 17/360 0.0833333 --------------- Class A Interest Distributable Amount 418,162.13 Excess Interest Amount Total Distribution Amount 7,389,635.32 minus Class A Principal and Interest Distributable Amount 4,370,910.44 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Trustee and Collateral Agent distributions 6,549.06 Standby Servicer distributions 4,887.98 Servicer distributions 421,794.12 Insurance and Reimbursement Obligations 122,145.27 --------------- 2,463,348.45 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class A-1 Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A-2 Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A-3 Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A-4 Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A-1 Interest Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A-2 Interest Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A-3 Interest Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A-4 Interest Carryover Shortfall from previous period 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(C) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 4,887.98 Servicing Fee (2.0%) 391,038.75 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 30,755.37 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Indenture Trustee Fee 1,466.40 Indenture Trustee's out-of-pocket expenses 3,674.28 Unpaid Indenture Trustee Fee from prior Collection Periods 0.00 Unpaid Indenture Trustee's out-of-pocket exp. - prior Collection Periods 0.00 Owner Trustee Fee 0.00 Owner Trustee's out-of-pocket expenses 0.00 Unpaid Owner Trustee Fee from prior Collection Periods 0.00 Unpaid Owner Trustee's out-of-pocket exp - prior Collection Periods 0.00 (iv) Collateral Agent Fee 1,408.38 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v)(A) Class A-1 Interest Distributable Amount - Current Month 121,243.98 Prior Month(s) Class A-1 Interest Carryover Shortfall 0.00 Class A-1 Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A-1 Interest Carryover Shortfall 0.00 Class A-1 Interest Distributable Amount 121,243.98 (B) Class A-2 Interest Distributable Amount - Current Month 448,883.33 Prior Month(s) Class A-2 Interest Carryover Shortfall 0.00 Class A-2 Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A-2 Interest Carryover Shortfall 0.00 Class A-2 Interest Distributable Amount 448,883.33 (vi)(A)Class A-3 Note Interest - Unadjusted 124,895.83 Class A-3 Note Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on Interest Shortfall - Previous Month(s) 0.00 Current Month Class A-3 Interest Shortfall 0.00 Adjusted Class A-3 Interest Distributable Amount 124,895.83 (B)Class A-4 Note Interest - Unadjusted 418,162.13 Class A-4 Note Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on Interest Shortfall - Previous Month(s) 0.00 Current Month Class A-4 Interest Shortfall 0.00 Adjusted Class A-4 Interest Distributable Amount 418,162.13 (vii) Class A Principal Distributable Amount - Current Month 3,257,725.17 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Total Adjusted Distributable Amount 3,257,725.17 Class A Principal Distribution Amount to Class A-1 3,257,725.17 Class A Principal Distribution Amount to Class A-2 0.00 Class A Principal Distribution Amount to Class A-3 0.00 Class A Principal Distribution Amount to Class A-4 0.00 (viii) Note Insurer Premium 122,145.27 Note Insurer Premium Supplement 0.00 Other Reimbursement Obligations to Note Insurer 0.00 (ix) Transition Expenses to successor Servicer 0.00 (xi) Until the Target Payment Date, remaining amount to Class A Noteholders 2,463,348.45 Amount to Class A-1 Noteholders 2,463,348.45 Amount to Class A-2 Noteholders 0.00 Amount to Class A-3 Noteholders 0.00 Amount to Class A-4 Noteholders 0.00 (xii) After an Event of Default, Certificateholders' Int. Dist. Amount 0.00 (xiii) After an Event of Default, Certificateholders' Prin. Dist. Amount 0.00 (xiv) After the Target Pmt. Date, remaining amount into Spread Acct. 0.00 Spread Account withdrawal for deficiencies 0.00 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ---------------------------------------------------- (a) Requisite levels for spread accounts reflect insurance defaults on pools 1995-4, 1996-1, FASCO 1996-1, and 1997-1.
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 25,808,031.06 Class A-1 Principal Distributions 3,257,725.17 Class A-1 End of Period Principal Amount (prior to turbo) 22,550,305.89 Additional Principal Distribution 2,463,348.45 Class A-1 End of Period Principal Amount 20,086,957.44 Class A-2 Beginning of Period Principal Amount 92,000,000.00 Class A-2 Principal Distributions 0.00 Class A-2 End of Period Principal Amount (prior to turbo) 92,000,000.00 Additional Principal Distribution 0.00 Class A-2 End of Period Principal Amount 92,000,000.00 Class A-3 Beginning of Period Principal Amount 25,000,000.00 Class A-3 Principal Distributable Amount 0.00 Class A-3 End of Period Principal Amount (prior to turbo) 25,000,000.00 Additional Principal Distribution 0.00 Class A-3 End of Period Principal Amount 25,000,000.00 Class A-4 Beginning of Period Principal Amount 82,532,000.00 Class A-4 Principal Distributable Amount 0.00 Class A-4 End of Period Principal Amount (prior to turbo) 82,532,000.00 Additional Principal Distribution 0.00 Class A-4 End of Period Principal Amount 82,532,000.00 CLASS A-1 DEFICIENCY - INTEREST (i) Total Distribution Amount Available 7,389,635.32 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (i) and (v)A 554,475.14 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 6,835,160.18 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (v) B 6,835,160.18 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (v) B 448,883.33 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 6,386,276.85 CLASS A-3 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (vi) A 6,386,276.85 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (v) A 124,895.83 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 6,261,381.02 CLASS A-4 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (vi) and (x) 6,261,381.02 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (vi) and (x) 418,162.13 (iii)Prior month(s) carryover shortfalls 0.00 (iv)Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 5,843,218.89 CLASS A-1 DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a) (vii) 5,843,218.89 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (vii) 3,257,725.17 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,585,493.72 CLASS A-2 DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a) (vii) 2,585,493.72 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (vii) 122,145.27 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,463,348.45 CLASS A-3 DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a) (vii) 2,463,348.45 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (vii) 0.00 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,463,348.45 CLASS A-4 DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a) (vii) 2,463,348.45 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (vii) 0.00 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,463,348.45 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.8(a) (viii) 2,585,493.72 (vi) Note Insurer Premium 122,145.27 (v) Note Insurer Premium Supplement 0.00 Deficiency Amount 0.00 Withdrawal from Spread Account to Cover Deficiency 0.00 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,463,348.45 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 8,537,000.00 Purchased receivables more than 30 days delinquent 420,595.27 --------------- Total 8,957,595.27 Aggregate Gross Principal Balance as of the close of 254,820,747.93 business on the last day of the Collection Period. DELINQUENCY RATIO 3.52% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 3.52% Delinquency Ratio for second preceding Determination Date 2.29% Delinquency Ratio for third preceding Determination Date 1.10% ---------------- Average Delinquency Ratio 2.30% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 0.00 Current Period Defaulted Receivables 118,733.95 --------------- Total 118,733.95 Cumulative Defaulted Receivables 118,733.95 Original Pool Balance 240,339,160.19 Cumulative Default Ratio 0.05% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of 120+ Delinquent Losses: Principal Balance of Delinquent Accts > 120 days 0.00 Estimated Loss % 50% --------------- Estimated Loss $'s 0.00 Calculation of Net Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 56,357.42 Cram Down Losses 0.00 Net Liquidation Proceeds (30,025.46) --------------- Net Losses 26,331.96 Cumulative Previous Net Losses 1,321.40 --------------- Cumulative Net Losses 27,653.36 Original Pool Balance 240,339,160.19 Cumulative Net Loss Ratio 0.01% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.60 Weighted Average Remaining Term 54.15 Weighted Average Annual Percentage Rate 20.45% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 231,299,043.50 minus the Securities Balance 219,618,957.44 --------------- 11,680,086.06 divided by the Aggregate Principal Balance 5.05% Floor OC Percent Aggregate Principal Balance 231,299,043.50 minus the Securities Balance 219,618,957.44 --------------- 11,680,086.06 divided by the initial Aggregate Principal Balance 240,339,160.19 --------------- 4.86% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 219,618,957.44 (ii) the sum of (A) 2.5% of the sum of 2.50% (I) initial Aggregate Principal Balance 240,339,160.19 (II) balance of all Subsequent Receivables 0.00 --------------- 6,008,479.00 (B) the product of (I) excess of 1% over the Floor OC Percent 0.00% (II) initial Aggregate Principal Balance 240,339,160.19 --------------- 0.00 Floor Amount 6,008,479.00 Requisite Amount the greater of (1) the Floor Amount 6,008,479.00 (2) the product of: if no Trigger Event, 11% 11.00% if a Trigger Event, 20% 20.00% if a Portfolio Performance Event of Default, 30% 30.00% if an Insurance Agreement Event of Default, unlimited 35.00% 35.00% times the Aggregate Principal Balance 231,299,043.50 --------------- 80,954,665.23 Requisite Amount 80,954,665.23 Does a Trigger Event exist? N Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) Required Spread Account Amount 80,954,665.23 Beginning of Period Spread Account Balance 19,280,748.54 Additional Deposit for Subsequent Receivables Transfer 0.00 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 61,673,916.69 Earnings on Spread Account Balance 86,558.36 Amount of Spread Account deposit (withdrawal) 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 19,367,306.90