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) December 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.) 16355 Laguna Canyon Road, Irvine, California 92618 (Address of Principal Executive Offices) (Zip Code) (949) 753-6800 (Registrant's Telephone Number, Including Area Code) 2 Ada, Irvine, California, 92618 (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 20.30 Monthly Servicing Report for the November 1998 collection period for FASCO Auto Grantor 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, CPS Auto Receivables Trust 1998-3, and CPS Auto Receivables Trust 1998-4. 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: December 24, 1998 By: /s/ Jeffrey P. Fritz Name: Jeffrey P. Fritz Title: Chief Financial Officer INDEX TO EXHIBITS Exhibit Sequential No. Document Description Page No. 20.30 Monthly Servicing Report for the November 1998 collection period for FASCO Auto Grantor 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, CPS Auto Receivables Trust 1998-3 and CPS Auto Receivables Trust 1998-4.
MONTHLY CERTIFICATEHOLDER STATEMENT FASCO AUTO GRANTOR TRUST 1996-1 6.65% ASSET-BACKED CERTIFICATES Distribution Date 12/15/98 Collection Period 11/98 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 $1,625,185.62 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $154,071.95 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,471,113.67 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $19.24 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $1.82 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $17.42 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $89,621.10 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $12,194.06 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $77,427.04 (j) Scheduled Payments due in such Collection Period $1,376,165.12 (k) Scheduled Payments collected in such Collection Period $1,234,944.00 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 $29,265,743.46 (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 $27,717,202.73 (c) The Pool factor as of the close of business on the last day set forth above 0.9470869 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 $63,537.99 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $1,951.05 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.75 (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 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 $17,063.50 (b) Distributions (to) from Collection Account $4,625.56 for Payaheads (c) Interest earned on Payahead Balances $71.59 (d) Ending Payahead Account Balance $21,760.65 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 $26,331,342.61 Spread Account Balance $5,450,518.06 (b) The change in the spread account on the Distribution Date set forth above $63,050.30 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 $7,679.97 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $221,296.84 (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 149 Aggregate Gross Amount $1,287,000.00 (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 105 Aggregate Gross Amount $932,000.00 8 Performance Triggers. (a) Delinquency Ratio 7.21% (b) Average Delinquency Ratio 6.21% (c) Cumulative Default Ratio 18.08% (d) Cumulative Net Loss Ratio 13.44% (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: 1,843,759.27 LOCK BOX NSF ITEMS: (19,263.78) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: (4,625.56) COLLECTION ACCOUNT INTEREST 6,939.37 PAYAHEAD ACCOUNT INTEREST 71.59 TOTAL COLLECTION PROCEEDS: 1,826,880.89 FOR DISTRIBUTION DATE: 12/15/98 FOR DETERMINATION DATE: 12/8/98 FOR COLLECTION PERIOD: 11/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 29,265,743.46 Principal portion of payments collected (non-prepayments) 799,513.77 Prepayments in full allocable to principal 418,321.00 Collections allocable to principal 1,217,834.77 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 109,409.10 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,327,243.87 Realized Losses 221,296.84 Cram Down Losses 0.00 Ending Principal Balance 27,717,202.75 INTEREST Collections allocable to interest 435,430.23 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 64,206.79 --------------- Total Interest 499,637.02 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 27,802,456.29 Beginning of Period Class B Principal Balance 1,463,287.15 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 5,387,467.76 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 14,761.75 Aggregate Payahead Balance 21,689.06 Aggregate Payahead Balance for preceding Distribution Date 17,063.50 Interest Earned on Payahead Balances 71.59 Scheduled Payments due in Collection Period 1,376,165.12 Scheduled Payments collected in Collection Period 1,234,944.00 Aggregate Amount of Realized Losses for preceding Distribution Date 221,296.84 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 326.16 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 149 1,287,000.00 60+ days delinquent 105 932,000.00 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 2,219,000.00 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 196,045.68 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 5.58% Delinquency Ratio for third preceding Determination Date 5.84% Cumulative Defaults for preceding Determination Date 15,873,399.25 Cumulative Net Losses for preceding Determination Date 11,791,418.63 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) 1,653,265.00 Liquidation Proceeds 109,409.10 Recoveries 64,206.79 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 1,826,880.89 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 799,513.77 Prepayments in full allocable to principal 418,321.00 Principal Balance of Liquidated Receivables 330,705.94 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 1,548,540.71 Class A Principal Distributable Amount Principal Distributable Amount 1,548,540.71 Times Class A Percentage (95%) 95% --------------- 1,471,113.67 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,471,113.67 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 27,802,456.29 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 154,071.95 Class B Principal Distributable Amount Principal Distributable Amount 1,548,540.71 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 77,427.04 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 1,463,287.15 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 12,194.06 Class B Excess Interest Amount Total Distribution Amount 1,826,880.89 minus Class A Principal and Interest Distributable Amount 1,625,185.62 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 12,194.06 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 77,427.04 Class B Principal Carryover Shortfall 0.00 Trustee distributions 691.98 Standby Servicer distributions 1,951.05 Servicer distributions 63,537.99 Collateral Agent distributions 365.82 Reimbursement Obligations 7,679.97 --------------- 37,847.36 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 1,951.05 Servicing Fee (2.0%) 48,776.24 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 14,761.75 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 365.82 Trustee's out-of-pocket expenses 326.16 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 365.82 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 154,071.95 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 154,071.95 (viii)(A) Class B Coupon Interest - Unadjusted 12,194.06 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 12,194.06 (v)(B) Class A Principal Distributable Amount - Current Month 1,471,113.67 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 1,471,113.67 (vi) Certificate Insurer Premium 7,679.97 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 77,427.04 Class B Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class B Principal Shortfall 0.00 Adjusted Class B Principal Distributable Amount 77,427.04 (C) Excess Interest Amount for Deposit in Spread Account 37,847.36 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 27,802,456.29 Class A Principal Distributions 1,471,113.67 Class A End of Period Principal Balance 26,331,342.61 Class B Beginning of Period Principal Balance 1,463,287.15 Class B Principal Distributable Amount 77,427.04 Class B End of Period Principal Balance BEFORE Spread Account Distributions 1,385,860.11 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 1,385,860.11 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 1,826,880.89 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 220,618.79 (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) 1,606,262.10 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 1,606,262.10 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 12,194.06 (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) 1,594,068.04 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 1,594,068.04 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,471,113.67 (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) 122,954.37 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 122,954.37 (vi) Certificate Insurer Premium 7,679.97 (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) 115,274.39 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 115,274.39 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 77,427.04 (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) 37,847.36 Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 37,847.36 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 2,219,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 2,219,000.00 Aggregate Gross Principal Balance as of the close of 30,765,565.45 business on the last day of the Collection Period. DELINQUENCY RATIO 7.21% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 7.21% Delinquency Ratio for second preceding Determination Date 5.58% Delinquency Ratio for third preceding Determination Date 5.84% --------------- Average Delinquency Ratio 6.21% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 15,873,399.25 Current Period Defaulted Receivables 196,045.68 --------------- Total 16,069,444.93 Cumulative Defaulted Receivables 16,069,444.93 Original Pool Balance 88,900,750.37 Cumulative Default Ratio 18.08% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 330,705.94 Cram Down Losses 0.00 Net Liquidation Proceeds (173,615.89) --------------- Net Liquidation Losses 157,090.05 Cumulative Previous Net Losses 11,791,418.63 --------------- Cumulative Net Losses 11,948,508.68 Original Pool Balance 88,900,750.37 Cumulative Net Loss Ratio 13.44% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 54.67 Weighted Average Remaining Term 26.95 Weighted Average Annual Percentage Rate 20.31% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 2,771,720.27 15% of Outstanding Certificate Balance 4,157,580.41 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y-WAIVED --------------- Cap Amount 26,331,342.61 Spread Account Floor 3% of the Initial Certificate Balance 2,667,022.51 Outstanding Certificate Balance 27,717,202.73 Minimum Floor 100,000.00 --------------- Floor Amount 2,667,022.51 Required Spread Account Amount 26,331,342.61 Beginning of Period Spread Account Balance 5,387,467.76 Spread Account Deposit (Withdrawal) from Current Distributions 37,847.36 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 20,906,027.50 Earnings on Spread Account Balance 25,202.94 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 5,450,518.06 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1996-2 6.70% ASSET-BACKED CERTIFICATES Distribution Date 12/15/98 Collection Period 11/98 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 $1,718,797.37 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $194,031.44 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,524,765.93 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $19.64 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $2.22 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $17.42 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $162,445.11 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $21,939.08 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $140,506.03 (j) Scheduled Payments due in such Collection Period $1,543,174.22 (k) Scheduled Payments collected in such Collection Period $1,449,254.60 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 $36,580,947.74 (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 $35,416,442.32 (c) The Pool factor as of the close of business on the last day set forth above 0.9681663 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 $74,328.94 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,438.73 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.85 (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 $20,799.58 (b) Distributions (to) from Collection Account $796.75 for Payaheads (c) Interest earned on Payahead Balances $91.47 (d) Ending Payahead Account Balance $21,687.80 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 $33,227,134.39 Spread Account Balance $4,740,887.36 (b) The change in the spread account on the Distribution Date set forth above $22,688.81 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 $9,691.25 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $304,119.47 (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 149 Aggregate Gross Amount $1,505,000.00 (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 141 Aggregate Gross Amount $1,341,000.00 8 Performance Triggers. (a) Delinquency Ratio 7.71% (b) Average Delinquency Ratio 7.12% (c) Cumulative Default Ratio 17.27% (d) Cumulative Net Loss Ratio 12.68% (e) Is a Portfolio Performance Test violation continuing? Yes (f) Has an Insurance Agreement Event of Default occurred? Yes
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: 2,002,667.78 LOCK BOX NSF ITEMS: (40,490.51) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: (796.75) COLLECTION ACCOUNT INTEREST 7,436.07 PAYAHEAD ACCOUNT INTEREST 91.47 TOTAL COLLECTION PROCEEDS: 1,968,908.06 FOR DISTRIBUTION DATE: 12/15/98 FOR DETERMINATION DATE: 12/8/98 FOR COLLECTION PERIOD: 11/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 36,580,947.74 Principal portion of payments collected (non-prepayments) 863,391.63 Prepayments in full allocable to principal 317,886.00 Collections allocable to principal 1,181,277.63 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 119,619.67 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,300,897.30 Realized Losses 304,119.47 Cram Down Losses 0.00 Ending Principal Balance 34,975,930.97 INTEREST Collections allocable to interest 585,862.97 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 82,147.79 --------------- Total Interest 668,010.76 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 34,751,900.33 Beginning of Period Class B Principal Balance 2,329,813.96 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 4,718,198.55 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 13,360.69 Aggregate Payahead Balance 21,596.33 Aggregate Payahead Balance for preceding Distribution Date 20,799.58 Interest Earned on Payahead Balances 91.47 Scheduled Payments due in Collection Period 1,543,174.22 Scheduled Payments collected in Collection Period 1,449,254.60 Aggregate Amount of Realized Losses for preceding Distribution Date 304,119.47 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 285.88 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 149 1,505,000.00 60+ days delinquent 141 1,540,000.00 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 3,045,000.00 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 347,533.10 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 6.91% Delinquency Ratio for third preceding Determination Date 6.73% Cumulative Defaults for preceding Determination Date 15,563,039.84 Cumulative Net Losses for preceding Determination Date 11,455,816.29 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) 1,767,140.60 Liquidation Proceeds 119,619.67 Recoveries 82,147.79 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 1,968,908.06 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 863,391.63 Prepayments in full allocable to principal 319,886.00 Principal Balance of Liquidated Receivables 423,739.14 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 1,605,016.77 Class A Principal Distributable Amount Principal Distributable Amount 1,605,016.77 Times Class A Percentage (95%) 95% --------------- 1,524,765.93 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,524,765.93 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 34,751,900.33 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 194,031.44 Class B Principal Distributable Amount Principal Distributable Amount 1,605,016.77 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 80,250.84 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 2,329,813.96 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 21,939.08 Class B Excess Interest Amount Total Distribution Amount 1,968,908.06 minus Class A Principal and Interest Distributable Amount 1,718,797.37 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 21,939.08 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 80,250.84 Class B Principal Carryover Shortfall 500,766.57 Trustee distributions 743.14 Standby Servicer distributions 2,438.73 Servicer distributions 74,328.94 Collateral Agent distributions 463.52 Reimbursement Obligations 9,691.25 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 500,766.57 --------------- 500,766.57 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 2,438.73 Servicing Fee (2.0%) 60,968.25 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 13,360.69 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 457.26 Trustee's out-of-pocket expenses 285.88 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 463.52 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 194,031.44 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 194,031.44 (viii)(A) Class B Coupon Interest - Unadjusted 21,939.08 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 21,939.08 (v)(B) Class A Principal Distributable Amount - Current Month 1,524,765.93 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 1,524,765.93 (vi) Certificate Insurer Premium 9,691.25 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 80,250.84 Class B Principal Carryover Shortfall - Previous Month(s) 500,766.57 Current Month Class B Principal Shortfall (440,511.38) Adjusted Class B Principal Distributable Amount 0.00 (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 34,751,900.33 Class A Principal Distributions 1,524,765.93 Class A End of Period Principal Balance 33,227,134.39 Class B Beginning of Period Principal Balance 2,329,813.96 Class B Principal Distributable Amount 140,506.03 Class B End of Period Principal Balance BEFORE Spread Account Distributions 2,189,307.93 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 2,189,307.93 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 1,968,908.06 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 272,005.77 (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) 1,696,902.29 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 1,696,902.29 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 21,939.08 (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 Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 1,674,963.21 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 1,674,963.21 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,524,765.93 (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) 150,197.28 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 150,197.28 (vi) Certificate Insurer Premium 9,691.25 (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) 140,506.03 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 140,506.03 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 80,250.84 (iii)Prior month(s) carryover shortfalls 500,766.57 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (440,511.38) Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (440,511.38) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 3,045,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 3,045,000.00 Aggregate Gross Principal Balance as of the close of 39,499,631.24 business on the last day of the Collection Period. DELINQUENCY RATIO 7.71% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 7.71% Delinquency Ratio for second preceding Determination Date 6.91% Delinquency Ratio for third preceding Determination Date 6.73% --------------- Average Delinquency Ratio 7.12% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 15,563,039.84 Current Period Defaulted Receivables 347,533.10 --------------- Total 15,910,572.94 Cumulative Defaulted Receivables 15,910,572.94 Original Pool Balance 92,129,299.54 Cumulative Default Ratio 17.27% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 423,739.14 Cram Down Losses 0.00 Net Liquidation Proceeds (201,767.46) --------------- Net Liquidation Losses 221,971.68 Cumulative Previous Net Losses 11,455,816.29 --------------- Cumulative Net Losses 11,677,787.97 Original Pool Balance 92,129,299.54 Cumulative Net Loss Ratio 12.68% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 55.54 Weighted Average Remaining Term 30.64 Weighted Average Annual Percentage Rate 20.44% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 3,541,644.23 15% of Outstanding Certificate Balance 5,312,466.35 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y-WAIVED --------------- Cap Amount 33,227,134.39 Spread Account Floor 3% of the Initial Certificate Balance 2,763,878.99 Outstanding Certificate Balance 35,416,442.32 Minimum Floor 100,000.00 --------------- Floor Amount 2,763,878.99 Required Spread Account Amount 33,227,134.39 Beginning of Period Spread Account Balance 4,718,198.55 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 28,508,935.84 Earnings on Spread Account Balance 22,688.81 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 4,740,887.36 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1996-3 6.30% ASSET-BACKED CERTIFICATES Distribution Date 12/15/98 Collection Period 11/98 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 $2,041,936.37 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $219,163.48 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,822,772.89 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $23.15 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $2.48 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $20.66 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $71,435.09 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $23,261.70 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $48,173.39 (j) Scheduled Payments due in such Collection Period $1,700,062.03 (k) Scheduled Payments collected in such Collection Period $1,528,634.83 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 $43,942,551.69 (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 $42,624,629.63 (c) The Pool factor as of the close of business on the last day set forth above 0.9700081 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 $88,906.71 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,929.50 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.01 (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 $17,605.88 (b) Distributions (to) from Collection Account $3,255.03 for Payaheads (c) Interest earned on Payahead Balances $76.07 (d) Ending Payahead Account Balance $20,936.98 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 $11,976,795.36 Spread Account Balance $5,994,978.21 (b) The change in the spread account on the Distribution Date set forth above $28,802.90 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 $11,644.11 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $467,689.31 (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 154 Aggregate Gross Amount $1,725,000.00 (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 164 Aggregate Gross Amount $1,759,000.00 8 Performance Triggers. (a) Delinquency Ratio 7.27% (b) Average Delinquency Ratio 6.79% (c) Cumulative Default Ratio 15.41% (d) Cumulative Net Loss Ratio 12.01% (e) Is a Portfolio Performance Test violation continuing? Yes (f) Has an Insurance Agreement Event of Default occurred? Yes
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: 2,242,689.81 LOCK BOX NSF ITEMS: (29,348.34) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: (3,255.03) COLLECTION ACCOUNT INTEREST 8,156.24 PAYAHEAD ACCOUNT INTEREST 76.07 TOTAL COLLECTION PROCEEDS: 2,218,318.75 FOR DISTRIBUTION DATE: 12/15/98 FOR DETERMINATION DATE: 12/8/98 FOR COLLECTION PERIOD: 11/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 43,942,551.69 Principal portion of payments collected (non-prepayments) 837,750.54 Prepayments in full allocable to principal 430,601.00 Collections allocable to principal 1,268,351.54 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 182,667.45 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,451,018.99 Realized Losses 467,689.31 Cram Down Losses 0.00 Ending Principal Balance 42,023,843.39 INTEREST Collections allocable to interest 690,884.29 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 76,415.47 --------------- Total Interest 767,299.76 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 41,745,424.07 Beginning of Period Class B Principal Balance 2,750,151.83 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 5,966,175.31 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 15,669.12 Aggregate Payahead Balance 20,860.91 Aggregate Payahead Balance for preceding Distribution Date 17,605.88 Interest Earned on Payahead Balances 76.07 Scheduled Payments due in Collection Period 1,700,062.03 Scheduled Payments collected in Collection Period 1,528,634.83 Aggregate Amount of Realized Losses for preceding Distribution Date 467,689.31 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 361.51 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 154 1,725,000.00 60+ days delinquent 164 1,759,000.00 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 3,484,000.00 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 530,842.97 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 6.56% Delinquency Ratio for third preceding Determination Date 6.55% Cumulative Defaults for preceding Determination Date 13,774,544.82 Cumulative Net Losses for preceding Determination Date 10,764,284.41 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) 1,959,235.83 Liquidation Proceeds 182,667.45 Recoveries 76,415.47 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 2,218,318.75 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 837,750.54 Prepayments in full allocable to principal 430,601.00 Principal Balance of Liquidated Receivables 650,356.76 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 1,918,708.30 Class A Principal Distributable Amount Principal Distributable Amount 1,918,708.30 Times Class A Percentage (95%) 95% --------------- 1,822,772.89 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,822,772.89 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 41,745,424.07 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 219,163.48 Class B Principal Distributable Amount Principal Distributable Amount 1,918,708.30 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 95,935.42 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 2,750,151.83 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 23,261.70 Class B Excess Interest Amount Total Distribution Amount 2,218,318.75 minus Class A Principal and Interest Distributable Amount 2,041,936.37 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 23,261.70 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 95,935.42 Class B Principal Carryover Shortfall 553,024.23 Trustee distributions 910.79 Standby Servicer distributions 2,929.50 Servicer distributions 88,906.71 Collateral Agent distributions 556.19 Reimbursement Obligations 11,644.11 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 553,024.23 --------------- 553,024.23 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 2,929.50 Servicing Fee (2.0%) 73,237.59 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 15,669.12 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 549.28 Trustee's out-of-pocket expenses 361.51 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 556.19 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 219,163.48 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 219,163.48 (viii)(A) Class B Coupon Interest - Unadjusted 23,261.70 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 23,261.70 (v)(B) Class A Principal Distributable Amount - Current Month 1,822,772.89 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 1,822,772.89 (vi) Certificate Insurer Premium 11,644.11 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 95,935.42 Class B Principal Carryover Shortfall - Previous Month(s) 553,024.23 Current Month Class B Principal Shortfall (600,786.26) Adjusted Class B Principal Distributable Amount 48,173.39 (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 41,745,424.07 Class A Principal Distributions 1,822,772.89 Class A End of Period Principal Balance 39,922,651.19 Class B Beginning of Period Principal Balance 2,750,151.83 Class B Principal Distributable Amount 48,173.39 Class B End of Period Principal Balance BEFORE Spread Account Distributions 2,701,978.44 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 2,701,978.44 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,218,318.75 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 312,466.67 (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) 1,905,852.08 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 1,905,852.08 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 23,261.70 (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) 1,882,590.38 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 1,882,590.38 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,822,772.89 (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) 59,817.50 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 59,817.50 (vi) Certificate Insurer Premium 11,644.11 (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) 48,173.39 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 48,173.39 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 95,935.42 (iii)Prior month(s) carryover shortfalls 553,024.23 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (600,786.26) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (600,786.26) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 3,484,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 3,484,000.00 Aggregate Gross Principal Balance as of the close of 47,927,935.44 business on the last day of the Collection Period. DELINQUENCY RATIO 7.27% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 7.27% Delinquency Ratio for second preceding Determination Date 6.56% Delinquency Ratio for third preceding Determination Date 6.55% --------------- Average Delinquency Ratio 6.79% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 13,774,544.82 Current Period Defaulted Receivables 530,842.97 --------------- Total 14,305,387.79 Cumulative Defaulted Receivables 14,305,387.79 Original Pool Balance 92,857,811.12 Cumulative Default Ratio 15.41% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 650,356.76 Cram Down Losses 0.00 Net Liquidation Proceeds (259,082.92) --------------- Net Liquidation Losses 391,273.84 Cumulative Previous Net Losses 10,764,284.41 --------------- Cumulative Net Losses 11,155,558.25 Original Pool Balance 92,857,811.12 Cumulative Net Loss Ratio 12.01% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.03 Weighted Average Remaining Term 33.80 Weighted Average Annual Percentage Rate 20.47% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 4,242,462.96 15% of Outstanding Certificate Balance 6,393,694.44 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y-WAIVED --------------- Cap Amount 11,976,795.36 Spread Account Floor 3% of the Initial Certificate Balance 2,785,734.33 Outstanding Certificate Balance 42,624,629.63 Minimum Floor 100,000.00 --------------- Floor Amount 2,785,734.33 Required Spread Account Amount 11,976,795.36 Beginning of Period Spread Account Balance 5,966,175.31 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 6,010,620.05 Earnings on Spread Account Balance 28,802.90 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 5,994,978.21 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1997-1 6.55% ASSET-BACKED CERTIFICATES Distribution Date 12/15/98 Collection Period 11/98 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 $2,368,837.98 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $282,591.31 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,086,246.67 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $24.37 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $2.91 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $21.46 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $32,257.42 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $32,257.42 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $0.00 (j) Scheduled Payments due in such Collection Period $1,984,934.20 (k) Scheduled Payments collected in such Collection Period $1,784,144.51 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 $54,497,319.66 (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 $53,006,009.88 (c) The Pool factor as of the close of business on the last day set forth above 0.9726352 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 $107,760.63 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,633.15 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.11 (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 $23,743.08 (b) Distributions (to) from Collection Account $180.24 for Payaheads (c) Interest earned on Payahead Balances $284.95 (d) Ending Payahead Account Balance $24,208.27 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 $14,905,862.10 Spread Account Balance $7,027,176.04 (b) The change in the spread account on the Distribution Date set forth above $2,022.51 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 $14,491.81 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $615,110.95 (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 221 Aggregate Gross Amount $2,468,000.00 (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 183 Aggregate Gross Amount $2,122,000.00 8 Performance Triggers. (a) Delinquency Ratio 7.69% (b) Average Delinquency Ratio 7.14% (c) Cumulative Default Ratio 15.24% (d) Cumulative Net Loss Ratio 11.65% (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: 2,535,714.21 Lock Box NSF Items: (49,071.18) Transfers from (to) Payahead Account: (180.24) Collection Account Interest 9,988.58 Payahead Account Interest 284.95 Total Collection Proceeds: 2,496,736.32 For Distribution Date: 12/15/98 For Determination Date: 12/8/98 For Collection Period: 11/98 COLLATERAL ACTIVITY INFORMATION Principal Beginning Principal Balance 54,497,319.66 Principal portion of payments collected (non-prepayments) 963,540.99 Prepayments in full allocable to principal 422,623.00 Collections allocable to principal 1,386,163.99 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 194,774.19 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,580,938.18 Realized Losses 615,110.95 Cram Down Losses 0.00 Ending Principal Balance 52,301,270.53 INTEREST Collections allocable to interest 820,603.52 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 95,194.62 --------------- Total Interest 915,798.14 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 51,772,453.67 Beginning of Period Class B Principal Balance 3,319,802.88 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 7,025,153.53 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 16,931.76 Aggregate Payahead Balance 23,923.32 Aggregate Payahead Balance for preceding Distribution Date 23,743.08 Interest Earned on Payahead Balances 284.95 Scheduled Payments due in Collection Period 1,984,934.20 Scheduled Payments collected in Collection Period 1,784,144.51 Aggregate Amount of Realized Losses for preceding Distribution Date 615,110.95 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 425.78 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 221 2,468,000.00 60+ days delinquent 183 2,122,000.00 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. 4,590,000.00 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. 579,790.85 Delinquency Ratio for second preceding Determination Date 6.90% Delinquency Ratio for third preceding Determination Date 6.82% Cumulative Defaults for preceding Determination Date 15,016,107.60 Cumulative Net Losses for preceding Determination Date 11,396,921.27 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) 2,206,767.51 Liquidation Proceeds 194,774.19 Recoveries 95,194.62 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 2,496,736.32 DISTRIBUTABLE AMOUNT PRINCIPAL DISTRIBUTABLE AMOUNT Principal portion of payments collected (non-prepayments) 963,540.99 Prepayments in full allocable to principal 422,623.00 Principal Balance of Liquidated Receivables 809,885.14 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,196,049.13 CLASS A PRINCIPAL DISTRIBUTABLE AMOUNT Principal Distributable Amount 2,196,049.13 Times Class A Percentage (95%) 95% --------------- 2,086,246.67 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,086,246.67 CLASS A INTEREST DISTRIBUTABLE AMOUNT Beginning of Period Principal Balance of the Certificates 51,772,453.67 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 282,591.31 CLASS B PRINCIPAL DISTRIBUTABLE AMOUNT Principal Distributable Amount 2,196,049.13 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 109,802.46 CLASS B COUPON INTEREST AMOUNT Beginning of Period Principal Balance of the Certificates 3,319,802.88 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 32,257.42 CLASS B EXCESS INTEREST AMOUNT Total Distribution Amount 2,496,736.32 minus Class A Principal and Interest Distributable Amount 2,368,837.98 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 32,257.42 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 109,802.46 Class B Principal Carryover Shortfall 594,936.89 Trustee distributions 1,107.00 Standby Servicer distributions 3,633.15 Servicer distributions 107,760.63 Collateral Agent distributions 688.65 Reimbursement Obligations 14,491.81 --------------- 0.00 Carryover Shortfalls from Prior Periods Class B Principal Carryover Shortfall from previous period 594,936.89 --------------- 594,936.89 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 3,633.15 Servicing Fee (2.0%) 90,828.87 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 16,931.76 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 681.22 Trustee's out-of-pocket expenses 425.78 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 688.65 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 282,591.31 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 282,591.31 (viii)(A) Class B Coupon Interest - Unadjusted 32,257.42 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 32,257.42 (v)(B) Class A Principal Distributable Amount - Current Month 2,086,246.67 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall (17,548.51) Withdrawal from Spread Account to Cover Shortfall 17,548.51 Class A Principal Distribution Amount 2,086,246.67 (vi) Certificate Insurer Premium 14,491.81 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 109,802.46 Class B Principal Carryover Shortfall - Previous Month(s) 594,936.89 Current Month Class B Principal Shortfall (704,739.35) Adjusted Class B Principal Distributable Amount 0.00 (C) Excess Interest Amount for Deposit in Spread Account (32,040.32) 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 51,772,453.67 Class A Principal Distributions 2,086,246.67 Class A End of Period Principal Balance 49,686,207.00 Class B Beginning of Period Principal Balance 3,319,802.88 Class B Principal Distributable Amount 0.00 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 2,496,736.32 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 395,780.74 (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) 2,100,955.58 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 2,100,955.58 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 32,257.42 (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) 2,068,698.16 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,068,698.16 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,086,246.67 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 17,548.51 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 0.00 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 0.00 (vi) Certificate Insurer Premium 14,491.81 (v) Certificate Insurer Premium Supplement 0.00 Deficiency Amount (14,491.81) Withdrawal from Spread Account to Cover Deficiency 14,491.81 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 0.00 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 0.00 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 109,802.46 (iii)Prior month(s) carryover shortfalls 594,936.89 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (704,739.35) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (704,739.35) CALCULATIONS PERFORMANCE MEASURES CALCULATION OF DELINQUENCY RATIO (CURRENT PERIOD) DELINQUENCY AMOUNT Receivables more than 30 days delinquent 4,590,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 4,590,000.00 Aggregate Gross Principal Balance as of the close of 59,708,675.73 business on the last day of the Collection Period. DELINQUENCY RATIO 7.69% CALCULATION OF AVERAGE DELINQUENCY RATIO Delinquency Ratio for most recent Determination Date 7.69% Delinquency Ratio for second preceding Determination Date 6.90% Delinquency Ratio for third preceding Determination Date 6.82% --------------- AVERAGE DELINQUENCY RATIO 7.14% CALCULATION OF CUMULATIVE DEFAULT RATIO DEFAULT AMOUNT Principal Balance of Previously Defaulted Receivables 15,016,107.60 Current Period Defaulted Receivables 579,790.85 --------------- Total 15,595,898.45 Cumulative Defaulted Receivables 15,595,898.45 Original Pool Balance 102,327,009.71 CUMULATIVE DEFAULT RATIO 15.24% CALCULATION OF CUMULATIVE NET LOSS RATIO CALCULATION OF NET LIQUIDATION LOSSES Principal Balance plus accrued and unpaid interest of Liquidated Receivables 809,885.14 Cram Down Losses 0.00 Net Liquidation Proceeds (289,968.81) --------------- Net Liquidation Losses 519,916.33 Cumulative Previous Net Losses 11,396,921.27 --------------- Cumulative Net Losses 11,916,837.60 Original Pool Balance 102,327,009.71 CUMULATIVE NET LOSS RATIO 11.65% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.35 Weighted Average Remaining Term 36.62 Weighted Average Annual Percentage Rate 20.51% SPREAD ACCOUNT SPREAD ACCOUNT CAP 10% of Outstanding Certificate Balance 5,300,600.99 15% of Outstanding Certificate Balance 7,950,901.48 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y-WAIVED --------------- Cap Amount 14,905,862.10 SPREAD ACCOUNT FLOOR 3% of the Initial Certificate Balance 3,069,810.29 Outstanding Certificate Balance 53,006,009.88 Minimum Floor 100,000.00 --------------- FLOOR AMOUNT 3,069,810.29 Required Spread Account Amount 14,905,862.10 Beginning of Period Spread Account Balance 7,025,153.53 Spread Account Deposit (Withdrawal) from Current Distributions (32,040.32) Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 7,912,748.89 Earnings on Spread Account Balance 34,062.83 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 7,027,176.04 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1997-2 6.65% ASSET-BACKED CERTIFICATES Distribution Date 12/15/98 Collection Period 11/98 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 $2,947,250.19 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $378,846.53 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,568,403.66 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $25.99 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $3.34 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $22.65 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $111,091.64 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $40,580.99 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $70,510.65 (j) Scheduled Payments due in such Collection Period $2,494,208.72 (k) Scheduled Payments collected in such Collection Period $2,301,524.23 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 $71,961,351.06 (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 $69,981,116.62 (c) The Pool factor as of the close of business on the last day set forth above 0.9724820 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 $141,646.02 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $4,797.42 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.25 (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 $22,208.20 (b) Distributions (to) from Collection Account $5,370.44 for Payaheads (c) Interest earned on Payahead Balances $98.18 (d) Ending Payahead Account Balance $27,676.82 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 $10,497,167.49 Spread Account Balance $9,103,390.57 (b) The change in the spread account on the Distribution Date set forth above $43,991.38 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 $19,190.17 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $689,204.45 (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 237 Aggregate Gross Amount $2,773,000.00 (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 210 Aggregate Gross Amount $2,598,000.00 8 Performance Triggers. (a) Delinquency Ratio 6.85% (b) Average Delinquency Ratio 6.65% (c) Cumulative Default Ratio 12.58% (d) Cumulative Net Loss Ratio 9.47% (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: 3,248,150.77 LOCK BOX NSF ITEMS: (28,424.50) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: (5,370.44) COLLECTION ACCOUNT INTEREST 11,877.67 PAYAHEAD ACCOUNT INTEREST 98.18 TOTAL COLLECTION PROCEEDS: 3,226,331.68 FOR DISTRIBUTION DATE: 12/15/98 FOR DETERMINATION DATE: 12/8/98 FOR COLLECTION PERIOD: 11/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 71,961,351.06 Principal portion of payments collected (non-prepayments) 1,167,202.81 Prepayments in full allocable to principal 570,404.00 Collections allocable to principal 1,737,606.81 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 276,771.54 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 2,014,378.35 Realized Losses 689,204.45 Cram Down Losses 0.00 Ending Principal Balance 69,257,768.26 INTEREST Collections allocable to interest 1,134,321.42 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 77,631.91 --------------- Total Interest 1,211,953.33 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 68,363,283.52 Beginning of Period Class B Principal Balance 4,256,747.40 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 9,059,399.19 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 21,710.43 Aggregate Payahead Balance 27,578.64 Aggregate Payahead Balance for preceding Distribution Date 22,208.20 Interest Earned on Payahead Balances 98.18 Scheduled Payments due in Collection Period 2,494,208.72 Scheduled Payments collected in Collection Period 2,301,524.23 Aggregate Amount of Realized Losses for preceding Distribution Date 689,204.45 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 548.97 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 237 2,773,000.00 60+ days delinquent 210 2,598,000.00 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. 5,371,000.00 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. 847,199.81 Delinquency Ratio for second preceding Determination Date 6.26% Delinquency Ratio for third preceding Determination Date 6.83% Cumulative Defaults for preceding Determination Date 14,167,308.36 Cumulative Net Losses for preceding Determination Date 10,690,022.04 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) 2,871,928.23 Liquidation Proceeds 276,771.54 Recoveries 77,631.91 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 3,226,331.68 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,167,202.81 Prepayments in full allocable to principal 570,404.00 Principal Balance of Liquidated Receivables 965,975.99 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,703,582.80 Class A Principal Distributable Amount Principal Distributable Amount 2,703,582.80 Times Class A Percentage (95%) 95% --------------- 2,568,403.66 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,568,403.66 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 68,363,283.52 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 378,846.53 Class B Principal Distributable Amount Principal Distributable Amount 2,703,582.80 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 135,179.14 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 4,256,747.40 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 40,580.99 Class B Excess Interest Amount Total Distribution Amount 3,226,331.68 minus Class A Principal and Interest Distributable Amount 2,947,250.19 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 40,580.99 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 135,179.14 Class B Principal Carryover Shortfall 658,679.86 Trustee distributions 1,448.49 Standby Servicer distributions 4,797.42 Servicer distributions 141,646.02 Collateral Agent distributions 907.75 Reimbursement Obligations 19,190.17 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 658,679.86 --------------- 658,679.86 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 4,797.42 Servicing Fee (2.0%) 119,935.59 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 21,710.43 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 899.52 Trustee's out-of-pocket expenses 548.97 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 907.75 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 378,846.53 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 378,846.53 (viii)(A) Class B Coupon Interest - Unadjusted 40,580.99 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 40,580.99 (v)(B) Class A Principal Distributable Amount - Current Month 2,568,403.66 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 2,568,403.66 (vi) Certificate Insurer Premium 19,190.17 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 135,179.14 Class B Principal Carryover Shortfall - Previous Month(s) 658,679.86 Current Month Class B Principal Shortfall (723,348.35) Adjusted Class B Principal Distributable Amount 70,510.65 (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 1995-1, 1995-4, 1996-1, FASCO 1996-1, 1996-2, 1996-3 and 1997-1.
CERTIFICATE BALANCE Class A Beginning of Period Principal Balance 68,363,283.52 Class A Principal Distributions 2,568,403.66 Class A End of Period Principal Balance 65,794,879.86 Class B Beginning of Period Principal Balance 4,256,747.40 Class B Principal Distributable Amount 70,510.65 Class B End of Period Principal Balance BEFORE Spread Account Distributions 4,186,236.75 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 4,186,236.75 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 3,226,331.68 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 527,646.21 (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) 2,698,685.47 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 2,698,685.47 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 40,580.99 (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) 2,658,104.48 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,658,104.48 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,568,403.66 (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) 89,700.82 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 89,700.82 (vi) Certificate Insurer Premium 19,190.17 (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) 70,510.65 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 70,510.65 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 135,179.14 (iii) Prior month(s) carryover shortfalls 658,679.86 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (723,348.35) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (723,348.35) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 5,371,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 5,371,000.00 Aggregate Gross Principal Balance as of the close of 78,433,279.31 business on the last day of the Collection Period. DELINQUENCY RATIO 6.85% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 6.85% Delinquency Ratio for second preceding Determination Date 6.26% Delinquency Ratio for third preceding Determination Date 6.83% --------------- Average Delinquency Ratio 6.65% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 14,167,308.36 Current Period Defaulted Receivables 847,199.81 --------------- Total 15,014,508.17 Cumulative Defaulted Receivables 15,014,508.17 Original Pool Balance 119,362,032.46 Cumulative Default Ratio 12.58% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 965,975.99 Cram Down Losses 0.00 Net Liquidation Proceeds (354,403.45) --------------- Net Liquidation Losses 611,572.54 Cumulative Previous Net Losses 10,690,022.04 --------------- Cumulative Net Losses 11,301,594.58 Original Pool Balance 119,362,032.46 Cumulative Net Loss Ratio 9.47% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.35 Weighted Average Remaining Term 39.07 Weighted Average Annual Percentage Rate 20.45% SPREAD ACCOUNT Spread Account Cap 9% of Outstanding Certificate Balance 6,298,300.50 15% of Outstanding Certificate Balance 10,497,167.49 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) --------------- Cap Amount 10,497,167.49 Spread Account Floor 3% of the Initial Certificate Balance 3,580,860.93 Outstanding Certificate Balance 69,981,116.62 Minimum Floor 100,000.00 --------------- Floor Amount 3,580,860.93 Required Spread Account Amount 10,497,167.49 Beginning of Period Spread Account Balance 9,059,399.19 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 1,437,768.30 Earnings on Spread Account Balance 43,991.38 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 9,103,390.57 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 12/15/98 Collection Period 11/98 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 $3,632,096.84 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $135,001.72 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $3,497,095.12 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $44.93 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $1.67 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $43.26 (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 $166,906.82 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $23,031.51 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $143,875.31 (p) The aggregate amount of the distribution to Certificateholders on the Distribution Date set forth above $166,906.82 (q) The amount of the distribution set forth in paragraph A.1. (p) above in respect of interest $23,031.51 (r) The amount of the distribution set forth in in paragraph A.1. (p) above in respect of principal $143,875.31 (s) Scheduled Payments due in such Collection Period $3,306,260.81 (t) Scheduled Payments collected in such Collection Period $3,129,065.56 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 $100,405,320.65 (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 $89,631,068.14 (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 $87,179,844.16 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8682791 (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 $2,451,223.97 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0244133 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 $191,303.20 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $5,020.27 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $2.37 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 $0.06 (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 ($37,165.00) (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 ($37,165.00) 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 $28,968,707.69 Spread Account Balance $3,058,571.86 (b) The change in the spread account on the Distribution Date set forth above $14,472.74 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 $24,712.51 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,019,003.29 (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 363 Aggregate Gross Amount $4,389,000.00 (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 305 Aggregate Gross Amount $3,790,000.00 7 Performance Triggers (a) Delinquency Ratio 7.51% (b) Average Delinquency Ratio 6.91% (c) Cumulative Default Ratio 10.92% (d) Cumulative Net Loss Ratio 7.91% (e) Is a Portfolio Performance Test violation continuing? Yes (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? YES DEFICIENCY CLAIM AMOUNT (74,329.99) INPUTS GROSS COLLECTION PROCEEDS: 4,563,819.46 LOCK BOX NSF ITEMS: (63,107.72) TOTAL COLLECTION PROCEEDS: 4,500,711.74 FOR DISTRIBUTION DATE: 12/15/98 FOR DETERMINATION DATE: 12/8/98 FOR COLLECTION PERIOD: 11/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 100,405,320.65 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 100,405,320.65 Principal portion of payments collected (non-prepayments) 1,568,058.94 Prepayments in full allocable to principal 805,927.00 Collections allocable to principal 2,373,985.94 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 449,972.44 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 2,823,958.38 Realized Losses 1,019,003.29 Cram Down Losses 0.00 Ending Principal Balance 95,562,358.98 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 1,561,006.62 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 115,746.74 --------------- Total Interest 1,676,753.36 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 26,557,715.31 Beginning of Period Class A-2 Principal Balance 61,668,000.00 Beginning of Period Class B Principal Balance 2,595,099.28 Beginning of Period Certificate Balance 2,595,099.28 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 3,044,099.12 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 23,961.00 Scheduled Payments due in Collection Period 3,306,260.81 Scheduled Payments collected in Collection Period 3,129,065.56 Aggregate Amount of Realized Losses for preceding Distribution Date 1,019,003.29 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 184.33 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 363 4,389,000.00 60+ days delinquent 305 3,790,000.00 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. 8,179,000.00 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. 941,833.59 Delinquency Ratio for second preceding Determination Date 6.49% Delinquency Ratio for third preceding Determination Date 6.72% Cumulative Defaults for preceding Determination Date 15,441,427.02 Cumulative Net Losses for preceding Determination Date 10,964,457.04 Does a Trigger Event Exist? N Is a Portfolio Performance Test violation continuing? (Y/N) Y 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 6.5376% minus 2.5% 2.50% --------------- 4.0376% 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) 3,934,992.56 Liquidation Proceeds 449,972.44 Recoveries 115,746.74 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 586.78 Investment earnings from Prefunding Account 0.00 Investment earnings from Interest Reserve Account 275.77 Investment earnings from Collection Account 15,039.88 --------------- TOTAL DISTRIBUTION AMOUNT 4,516,614.17 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,568,058.94 Prepayments in full allocable to principal 805,927.00 Principal Balance of Liquidated Receivables 1,468,975.73 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 3,842,961.67 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 96,562,358.98 --------------- 86,906,123.08 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 66.0% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 3,842,961.67 Times Class A Noteholders' Percentage 91% --------------- 3,497,095.12 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 3,497,095.12 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 26,557,715.31 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 135,001.72 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 3,842,961.67 Times Class B Percentage 2.5% --------------- Class B Principal Distributable Amount 96,074.04 Certificate Principal Distributable Amount Principal Distributable Amount 3,842,961.67 Times Certificate Percentage 2.5% --------------- Certificate Principal Distributable Amount 96,074.04 Class B Noteholders' Interest Amount Beginning of Period Principal Balance of the Notes 2,595,099.28 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 23,031.51 Certificateholders' Interest Amount Beginning of Period Principal Balance of the Certificates 2,595,099.28 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 23,031.51 Class B Excess Interest Amount Total Distribution Amount 4,516,614.17 minus Class A Principal and Interest Distributable Amount 3,632,096.84 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 23,031.51 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 96,074.04 Class B Principal Carryover Shortfall 169,932.53 Trustee distributions 1,021.04 Standby Servicer distributions 5,020.27 Servicer distributions 191,303.20 Collateral Agent distributions 778.47 Reimbursement Obligations 24,712.51 --------------- 372,643.76 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B and Certificates Principal Carryover Shortfall from previous period 169,932.53 --------------- 169,932.53 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 5,020.37 Servicing Fee (2.0%) 167,342.20 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 23,961.00 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 836.71 Indenture Trustee's out-of-pocket expenses 184.33 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 778.47 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 135,001.72 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 135,001.72 (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 23,031.51 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 23,031.51 (B) Certificate Interest - Unadjusted 23,031.51 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 23,031.51 (vii) Class A Principal Distributable Amount - Current Month 3,497,095.12 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 3,497,095.12 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 24,712.51 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 96,074.04 Class B Principal Carryover Shortfall - Previous Month(s) 84,966.27 Current Month Class B Principal Shortfall (37,165.00) Adjusted Class B Principal Distributable Amount 143,875.31 Certificate Principal Distributable Amount - Current Month Unadjusted 96,074.04 Certificate Principal Carryover Shortfall - Previous Month(s) 84,966.27 Current Month Certificate Principal Shortfall (37,165.00) Adjusted Certificate Principal Distributable Amount 143,875.31 (xi) Until the Target Payment Date, remaining amount to Class A Noteholders 0.00 Amount to Class A-1 Noteholders 0.00 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 1995-1, 1995-4, 1996-1, FASCO 1996-1, 1996-2, 1996-3, and 1997-1.
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 26,557,715.31 Class A-1 Principal Distributions 3,497,095.12 Class A-1 End of Period Principal Amount (prior to turbo) 23,060,620.19 Additional Principal Distribution 0.00 Class A-1 End of Period Principal Amount 23,060,620.19 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 2,595,099.28 Class B Principal Distributable Amount 143,875.31 Class B End of Period Principal Amount BEFORE Spread Account Distributions 2,451,223.97 Allocations of Cash Releases to Cover B Shortfalls 0.00 Class B End of Period Principal Amount AFTER Spread Account Distributions 2,451,223.97 Certificate Beginning of Period Principal Amount 2,595,099.28 Certificate Principal Distributable Amount 143,875.31 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 2,451,223.97 Allocation of Cash Releases to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 2,451,223.97 CLASS A-1 DEFICIENCY - INTEREST (i) Total Distribution Amount Available 4,516,614.17 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(i) and (v)A 333,124.70 (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) 4,183,489.47 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(v) B 4,183,489.47 (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) 3,855,621.27 CLASS B NOTE DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) A 3,855,621.27 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(v) A 23,031.51 (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) 3,832,589.76 CLASS B CERTIFICATE DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) and (x) 3,832,589.76 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(vi) and (x) 23,031.51 (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) 3,809,558.25 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a)(vii) 3,809,558.25 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(vii) 3,497,095.12 (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) 312,463.13 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.8(a)(viii) 312,463.13 (vi) Note Insurer Premium 24,712.51 (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) 287,750.62 CLASS B NOTES & CERTIFICATES DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) and (x) 287,750.62 (ii) Amounts payable pursuant to Section 5.8(a)(vi) and (x) 192,148.08 (iii) Prior month(s) carryover shortfalls 169,932.53 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Amount Remaining for Further Distribution/ B Notes (Deficiency) (37,165.00) Amount Remaining for Further Distribution/ B Certificates (Deficiency) (37,165.00) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (74,329.99) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 8,179,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 8,179,000.00 Aggregate Gross Principal Balance as of the close of 108,889,003.68 business on the last day of the Collection Period. DELINQUENCY RATIO 7.51% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 7.51% Delinquency Ratio for second preceding Determination Date 6.49% Delinquency Ratio for third preceding Determination Date 6.72% ---------------- Average Delinquency Ratio 6.91% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 15,441,427.02 Current Period Defaulted Receivables 941,833.59 --------------- Total 16,383,260.61 Cumulative Defaulted Receivables 16,383,260.61 Original Pool Balance 150,000,000.00 Cumulative Default Ratio 10.92% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,468,975.73 Cram Down Losses 0.00 Net Liquidation Proceeds (565,719.18) --------------- Net Liquidation Losses 903,256.55 Cumulative Previous Net Losses 10,964,457.04 --------------- Cumulative Net Losses 11,867,713.59 Original Pool Balance 150,000,000.00 Cumulative Net Loss Ratio 7.91% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.00 Weighted Average Remaining Term 41.76 Weighted Average Annual Percentage Rate 20.39% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 96,562,358.98 minus the Securities Balance 89,631,068.14 --------------- 6,931,290.84 divided by the Aggregate Principal Balance 7.18% Floor OC Percent Aggregate Principal Balance 96,562,358.98 minus the Securities Balance 89,631,068.14 --------------- 6,931,290.84 divided by the initial Aggregate Principal Balance 150,000,000.00 --------------- 4.62% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 89,631,068.14 (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 1.82% if a Trigger Event, 15% minus the OC Percent 7.82% if a Portfolio Performance Event of Default, 30% minus the OC Percent 22.82% if an Insurance Agreement Event of Default, 30% 30.00% 30.00% times the Aggregate Principal Balance 96,562,358.98 --------------- 28,968,707.69 Requisite Amount 28,968,707.69 Does a Trigger Event exist? N Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) Required Spread Account Amount 28,968,707.69 Beginning of Period Spread Account Balance 3,044,099.12 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 25,924,608.57 Earnings on Spread Account Balance 14,472.74 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 3,058,571.86 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 12/15/98 Collection Period 11/98 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 $2,570,645.08 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $109,608.17 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,461,036.91 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $47.38 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $2.02 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $45.36 (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 $169,274.13 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $34,052.32 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $135,221.81 (p) Scheduled Payments due in such Collection Period $2,467,837.10 (q) Scheduled Payments collected in such Collection Period $2,259,977.24 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 $77,172,403.69 (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 $69,238,791.85 (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 $65,515,393.47 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8489485 (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 $3,723,398.38 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0482478 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 $148,333.16 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,858.62 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $2.73 (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 $22,340,390.26 Spread Account Balance $2,539,648.09 (b) The change in the spread account on the Distribution Date set forth above $198,201.63 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 $19,108.66 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $570,112.59 (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 246 Aggregate Gross Amount $3,003,000.00 (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 202 Aggregate Gross Amount $2,546,000.00 7 Performance Triggers. (a) Delinquency Ratio 6.62% (b) Average Delinquency Ratio 5.96% (c) Cumulative Default Ratio 8.41% (d) Cumulative Net Loss Ratio 5.64% (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: 3,368,998.04 LOCK BOX NSF ITEMS: (37,815.97) TOTAL COLLECTION PROCEEDS: 3,331,182.07 FOR DISTRIBUTION DATE: 12/15/98 FOR DETERMINATION DATE: 12/8/98 FOR COLLECTION PERIOD: 11/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 77,172,403.69 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 77,172,403.69 Principal portion of payments collected (non-prepayments) 1,130,319.47 Prepayments in full allocable to principal 707,858.00 Collections allocable to principal 1,838,177.47 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 296,146.10 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 2,134,323.57 Realized Losses 570,112.59 Cram Down Losses 0.00 Ending Principal Balance 74,467,967.53 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 $1,129,657.77 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 67,200.73 --------------- Total Interest $1,196,858.50 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 21,668,831.78 Beginning of Period Class A-2 Principal Balance 46,307,598.60 Beginning of Period Certificate Principal Balance 3,858,620.19 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 2,341,446.46 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 19,712.49 Scheduled Payments due in Collection Period 2,467,837.10 Scheduled Payments collected in Collection Period 2,259,977.24 Aggregate Amount of Realized Losses for preceding Distribution Date 570,112.59 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 141.71 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 246 3,003,000.00 60+ days delinquent 202 2,546,000.00 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. 5,549,000.00 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. 964,166.86 Delinquency Ratio for second preceding Determination Date 5.44% Delinquency Ratio for third preceding Determination Date 5.82% Cumulative Defaults for preceding Determination Date 7,941,992.10 Cumulative Net Losses for preceding Determination Date 5,470,894.59 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) 2,967,835.24 Liquidation Proceeds 296,146.10 Recoveries 67,200.73 Purchase Amounts 0.00 Note Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 12,162.45 --------------- TOTAL DISTRIBUTION AMOUNT 3,343,344.52 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,130,319.47 Prepayments in full allocable to principal 707,858.00 Principal Balance of Liquidated Receivables 866,258.69 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,704,436.16 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 74,467,967.53 --------------- 67,021,170.78 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 64.5% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 2,704,436.16 Times Class A Noteholders' Percentage 91% --------------- 2,461,036.91 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,461,036.91 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 21,668,831.78 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 109,608.17 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 2,704,436.16 Times Certificate Percentage 5.0% --------------- Class B Principal Distributable Amount 135,221.81 Certificateholders' Interest Amount Total Distribution Amount 3,343,344.52 minus Class A Principal and Interest Distributable Amount 2,813,759.97 Beginning of Period Principal Balance of the Certificates 3,858,620.19 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 34,052.32 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 34,052.32 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 135,221.81 Class B Principal Carryover Shortfall 0.00 Trustee distributions 784.81 Standby Servicer distributions 3,858.62 Servicer distributions 148,333.16 Collateral Agent distributions 598.63 Reimbursement Obligations 19,108.66 --------------- 187,626.55 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 3,858.62 Servicing Fee (2.0%) 128,620.67 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 19,712.49 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 643.10 Indenture Trustee's out-of-pocket expenses 141.71 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 598.63 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)(A) Class A-1 Interest Distributable Amount - Current Month 109,608.17 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 109,608.17 (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 34,052.32 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 34,052.32 (vii) Class A Principal Distributable Amount - Current Month 2,461,036.91 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 2,461,036.91 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 19,108.66 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 135,221.81 Certificate Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Certificate Principal Shortfall 0.00 Adjusted Certificate Principal Distributable Amount 135,221.81 (xi) Until the Target Payment Date, remaining amount to Class A Noteholders 0.00 Amount to Class A-1 Noteholders 0.00 Amount to Class A-2 Noteholders 0.00 (xiv) After the Target Pmt. Date, remaining amount into Spread Acct. 187,626.55 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 1995-1, 1995-4, 1996-1, FASCO 1996-1, 1996-2, 1996-3, and 1997-1.
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 21,668,831.78 Class A-1 Principal Distributions 2,461,036.91 Class A-1 End of Period Principal Amount (prior to turbo) 19,207,794.87 Additional Principal Distribution 0.00 Class A-1 End of Period Principal Amount 19,207,794.87 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 3,858,620.19 Certificate Principal Distributable Amount 135,221.81 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 3,723,398.38 Withdrawal from Spread Account to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 3,723,398.38 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 3,343,344.52 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 506,298.28 (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) 2,837,046.24 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 2,837,046.24 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 34,052.32 (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) 2,802,993.92 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,802,993.92 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,461,036.91 (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) 341,957.01 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 341,957.01 (vi) Note Insurer Premium 19,108.66 (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) 322,848.36 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 322,848.36 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 135,221.81 (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) 187,626.55 Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 187,626.55 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 5,549,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 5,549,000.00 Aggregate Gross Principal Balance as of the close of 83,769,823.81 business on the last day of the Collection Period. DELINQUENCY RATIO 6.62% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 6.62% Delinquency Ratio for second preceding Determination Date 5.44% Delinquency Ratio for third preceding Determination Date 5.82% --------------- Average Delinquency Ratio 5.96% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 7,941,992.10 Current Period Defaulted Receivables 964,166.86 --------------- Total 8,906,158.96 Cumulative Defaulted Receivables 8,906,158.96 Original Pool Balance 105,860,630.11 Cumulative Default Ratio 8.41% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 866,258.69 Cram Down Losses 0.00 Net Liquidation Proceeds (363,346.83) --------------- Net Liquidation Losses 502,911.86 Cumulative Previous Net Losses 5,470,894.59 --------------- Cumulative Net Losses 5,973,806.45 Original Pool Balance 105,860,630.11 Cumulative Net Loss Ratio 5.64% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.79 Weighted Average Remaining Term 43.80 Weighted Average Annual Percentage Rate 20.30% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 74,467,967.53 minus the Securities Balance 69,238,791.85 --------------- 5,229,175.68 divided by the Aggregate Principal Balance 7.02% Floor OC Percent Aggregate Principal Balance 74,467,967.53 minus the Securities Balance 69,238,791.85 --------------- 5,229,175.68 divided by the initial Aggregate Principal Balance 105,860,630.11 --------------- 4.94% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 69,238,791.85 (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 1.98% if a Trigger Event, 15% minus the OC Percent 7.98% if a Portfolio Performance Event of Default, 30% minus the OC Percent 22.98% if an Insurance Agreement Event of Default, 30% 30.00% 30.00% times the Aggregate Principal Balance 74,467,967.53 --------------- 22,340,390.26 Requisite Amount 22,340,390.26 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 22,340,390.26 Beginning of Period Spread Account Balance 2,341,446.46 Spread Account Deposit (Withdrawal) from Current Distributions 187,626.55 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 19,811,317.25 Earnings on Spread Account Balance 10,575.08 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 2,539,648.09 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 12/15/98 Collection Period 11/98 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 $2,407,121.54 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $155,631.44 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,251,490.10 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $43.18 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $2.79 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $40.39 (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 $156,029.02 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $32,320.77 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $123,708.25 (p) Scheduled Payments due in such Collection Period $2,304,689.15 (q) Scheduled Payments collected in such Collection Period $2,024,175.73 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 $73,606,093.53 (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 $66,309,601.65 (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 $62,757,013.57 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8526062 (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 $3,552,588.08 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0482649 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 $139,950.50 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,680.30 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $2.51 (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 $21,339,578.58 Spread Account Balance $2,600,110.06 (b) The change in the spread account on the Distribution Date set forth above $15,604.18 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 $20,396.03 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $705,504.48 (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 233 Aggregate Gross Amount $2,890,000.00 (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 206 Aggregate Gross Amount $2,649,000.00 7 Performance Triggers. (a) Delinquency Ratio 7.01% (b) Average Delinquency Ratio 6.39% (c) Cumulative Default Ratio 6.60% (d) Cumulative Net Loss Ratio 4.50% (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: 2,943,954.29 LOCK BOX NSF ITEMS: (35,091.60) TOTAL COLLECTION PROCEEDS: 2,908,862.69 FOR DISTRIBUTION DATE: 12/15/98 FOR DETERMINATION DATE: 12/8/98 FOR COLLECTION PERIOD: 11/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 73,606,093.53 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 73,606,093.53 Principal portion of payments collected (non-prepayments) 954,530.76 Prepayments in full allocable to principal 504,375.00 Collections allocable to principal 1,458,905.76 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 309,754.70 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,768,660.46 Realized Losses 705,504.48 Cram Down Losses 0.00 Ending Principal Balance 71,131,928.59 INTEREST Collections allocable to interest $1,069,644.97 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 70,557.26 --------------- Total Interest $1,140,202.23 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 29,833,503.66 Beginning of Period Class A-2 Principal Balance 35,175,000.00 Beginning of Period Certificate Principal Balance 3,676,296.33 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 2,584,505.88 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 17,273.68 Scheduled Payments due in Collection Period 2,304,689.15 Scheduled Payments collected in Collection Period 2,024,175.73 Aggregate Amount of Realized Losses for preceding Distribution Date 705,504.48 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 156.44 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 233 2,890,000.00 60+ days delinquent 206 2,649,000.00 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 5,539,000.00 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 795,558.61 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 6.03% Delinquency Ratio for third preceding Determination Date 6.12% Cumulative Defaults for preceding Determination Date 5,517,554.72 Cumulative Net Losses for preceding Determination Date 3,668,303.62 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) 2,528,550.73 Liquidation Proceeds 309,754.70 Recoveries 70,557.26 Purchase Amounts 0.00 Note Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 10,938.45 --------------- TOTAL DISTRIBUTION AMOUNT 2,919,801.14 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 954,530.76 Prepayments in full allocable to principal 504,375.00 Principal Balance of Liquidated Receivables 1,015,259.18 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,474,164.94 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 71,131,928.59 -------------- 64,018,735.73 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 51.2% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 2,474,164.94 Times Class A Noteholders' Percentage 91% --------------- 2,251,490.10 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,251,490.10 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 29,833,503.66 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 155,631.44 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 2,474,164.94 Times Certificate Percentage 5.0% --------------- Class B Principal Distributable Amount 123,708.25 Certificateholders' Interest Amount Total Distribution Amount 2,919,801.14 minus Class A Principal and Interest Distributable Amount 2,594,721.54 Beginning of Period Principal Balance of the Certificates 3,676,296.33 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 32,320.77 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 32,320.77 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 123,708.25 Class B Principal Carryover Shortfall 0.00 Trustee distributions 769.82 Standby Servicer distributions 3,680.30 Servicer distributions 139,950.50 Collateral Agent distributions 572.37 Reimbursement Obligations 20,396.03 --------------- 3,681.57 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 3,680.30 Servicing Fee (2.0%) 122,676.82 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 17,273.68 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 613.38 Indenture Trustee's out-of-pocket expenses 156.44 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 572.37 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 155,631.44 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 155,631.44 (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 32,320.77 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 32,320.77 (vii) Class A Principal Distributable Amount - Current Month 2,251,490.10 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 2,251,490.10 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 20,396.03 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 123,708.25 Certificate Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Certificate Principal Shortfall 0.00 Adjusted Certificate Principal Distributable Amount 123,708.25 (xi) Until the Target Payment Date, remaining amount to Class A Noteholders 0.00 Amount to Class A-1 Noteholders 0.00 Amount to Class A-2 Noteholders 0.00 (xiv) After the Target Pmt. Date, remaining amount into Spread Acct. 3,681.57 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 1995-1, 1995-4, 1996-1, FASCO 1996-1, 1996-2, 1996-3, and 1997-1.
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 29,833,503.66 Class A-1 Principal Distributions 2,251,490.10 Class A-1 End of Period Principal Amount (prior to turbo) 27,582,013.57 Additional Principal Distribution 0.00 Class A-1 End of Period Principal Amount 27,582,013.57 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 3,676,296.33 Certificate Principal Distributable Amount 123,708.25 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 3,552,588.08 Withdrawal from Spread Account to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 3,552,588.08 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,919,801.14 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 488,204.43 (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 Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,431,596.71 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 2,431,596.71 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 32,320.77 (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) 2,399,275.94 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 2,399,275.94 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 2,251,490.10 (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) 147,785.84 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 147,785.84 (vi) Note Insurer Premium 20,396.03 (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) 127,389.82 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 127,389.82 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 123,708.25 (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) 3,681.57 Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 5.539,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 5,539,000.00 Aggregate Gross Principal Balance as of the close of 78,980,046.42 business on the last day of the Collection Period. DELINQUENCY RATIO 7.01% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 7.01% Delinquency Ratio for second preceding Determination Date 6.03% Delinquency Ratio for third preceding Determination Date 6.12% ---------------- Average Delinquency Ratio 6.39% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 5,517,554.72 Current Period Defaulted Receivables 795,558.61 --------------- Total 6,313,113.33 Cumulative Defaulted Receivables 6,313,113.33 Original Pool Balance 95,706,307.00 Cumulative Default Ratio 6.60% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,015,259.18 Cram Down Losses 0.00 Net Liquidation Proceeds (380,311.96) --------------- Net Liquidation Losses 634,947.22 Cumulative Previous Net Losses 3,668,303.62 --------------- Cumulative Net Losses 4,303,250.84 Original Pool Balance 95,706,307.00 Cumulative Net Loss Ratio 4.50% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.00 Weighted Average Remaining Term 45.11 Weighted Average Annual Percentage Rate 20.22% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 71,131,928.59 minus the Securities Balance 66,309,601.65 --------------- 4,822,326.94 divided by the Aggregate Principal Balance 6.78% Floor OC Percent Aggregate Principal Balance 71,131,928.59 minus the Securities Balance 66,309,601.65 --------------- 4,822,326.94 divided by the initial Aggregate Principal Balance 95,706,307.00 --------------- 5.04% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 66,309,601.65 (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 2.2% if a Trigger Event, 15% minus the OC Percent 8.2% if a Portfolio Performance Event of Default, 30% minus the OC Percent 23.2% if an Insurance Agreement Event of Default, 30% 30% 30% times the Aggregate Principal Balance 71,131,928.59 --------------- 21,339,578.58 Requisite Amount 21,339,578.58 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 21,339,578.58 Beginning of Period Spread Account Balance 2,584,505.88 Spread Account Deposit (Withdrawal) from Current Distributions 3,681.57 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 18,751,391.13 Earnings on Spread Account Balance 11,922.61 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 2,600,110.06 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 12/15/98 Collection Period 11/98 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 $5,359,924.47 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $758,627.84 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $4,601,296.63 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $30.18 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $4.27 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $25.91 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $288,996.28 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $68,788.46 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $220,207.82 (j) Scheduled Payments due in such Collection Period $4,826,914.21 (k) Scheduled Payments collected in such Collection Period $4,148,709.74 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 $159,711,123.21 (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 $154,957,345.85 (c) The Pool factor as of the close of business on the last day set forth above 0.9702352 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 $300,829.33 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,327.32 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.69 (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 $17,197.00 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 $34,728.97 (b) Distributions (to) from Collection Account $814.03 for Payaheads (c) Interest earned on Payahead Balances $363.53 (d) Ending Payahead Account Balance $35,906.53 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 $46,487,203.76 Spread Account Balance $21,397,808.25 (b) The change in the spread account on the Distribution Date set forth above $101,256.15 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 $50,267.46 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,213,601.79 (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 439 Aggregate Gross Amount $5,634,000.00 (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 424 Aggregate Gross Amount $5,544,000.00 8 Performance Triggers. (a) Delinquency Ratio 6.49% (b) Average Delinquency Ratio 5.90% (c) Cumulative Default Ratio 3.99% (d) Cumulative Net Loss Ratio 2.32% (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: 6,061,512.18 LOCK BOX NSF ITEMS: (75,584.28) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: (814.03) COLLECTION ACCOUNT INTEREST 21,820.57 PAYAHEAD ACCOUNT INTEREST 363.53 TOTAL COLLECTION PROCEEDS: 6,007,297.97 FOR DISTRIBUTION DATE: 12/15/98 FOR DETERMINATION DATE: 12/8/98 FOR COLLECTION PERIOD: 11/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 159,711,123.21 Principal portion of payments collected (non-prepayments) 1,866,498.70 Prepayments in full allocable to principal 1,150,372.00 Collections allocable to principal 3,016,870.70 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 595,800.65 Purchase Amounts allocable to principal 17,197.00 --------------- Total Principal 3,629,868.35 Realized Losses 1,213,601.79 Cram Down Losses 0.00 Ending Principal Balance 154,867,653.07 INTEREST Collections allocable to interest 2,282,211.04 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 95,218.58 --------------- Total Interest 2,377,429.62 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 151,725,567.37 Beginning of Period Class B Principal Balance 8,053,282.93 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 21,296,552.10 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 34,644.12 Aggregate Payahead Balance 35,543.00 Aggregate Payahead Balance for preceding Distribution Date 34,728.97 Interest Earned on Payahead Balances 363.53 Scheduled Payments due in Collection Period 4,826,914.21 Scheduled Payments collected in Collection Period 4,148,709.74 Aggregate Amount of Realized Losses for preceding Distribution Date 1,213,601.79 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 1,290.69 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 439 5,634,000.00 60+ days delinquent 424 5,544,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 1 17,197.00 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close 11,178,000.00 of business on the last day of the related Collection Period. Principal Balance of all Receivables that became Purchased Receivables as of 17,197.00 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 1,380,359.62 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 5.48% Delinquency Ratio for third preceding Determination Date 5.73% Cumulative Defaults for preceding Determination Date 6,070,229.85 Cumulative Net Losses for preceding Determination Date 3,221,714.21 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) 5,299,081.74 Liquidation Proceeds 595,800.65 Recoveries 95,218.58 Purchase Amounts 17,197.00 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 6,007,297.97 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,866,498.70 Prepayments in full allocable to principal 1,150,372.00 Principal Balance of Liquidated Receivables 1,809,402.44 Purchase Amounts allocable to principal 17,197.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 4,843,470.14 Class A Principal Distributable Amount Principal Distributable Amount 4,843,470.14 Times Class A Percentage (95%) 95% --------------- 4,601,296.63 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 4,601,296.63 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 151,725,567.37 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 758,627.84 Class B Principal Distributable Amount Principal Distributable Amount 4,843,470.14 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 242,173.51 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 8,053,282.93 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 68,788.46 Class B Excess Interest Amount Total Distribution Amount 6,007,297.97 minus Class A Principal and Interest Distributable Amount 5,359,924.47 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 68,788.46 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 242,173.51 Class B Principal Carryover Shortfall 67,727.09 Trustee distributions 2,621.62 Standby Servicer distributions 3,327.32 Servicer distributions 300,829.33 Collateral Agent distributions 1,331.49 Reimbursement Obligations 50,267.46 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 67,727.09 --------------- 67,727.09 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 3,327.32 Servicing Fee (2.0%) 266,185.21 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 34,644.12 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 1,330.93 Trustee's out-of-pocket expenses 1,290.69 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 1,331.49 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 758,627.84 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 758,627.84 (viii)(A)Class B Coupon Interest - Unadjusted 68,788.46 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 68,788.46 (v)(B) Class A Principal Distributable Amount - Current Month 4,601,296.63 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 4,601,296.63 (vi) Certificate Insurer Premium 50,267.46 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 242,173.51 Class B Principal Carryover Shortfall - Previous Month(s) 67,727.09 Current Month Class B Principal Shortfall (89,692.78) Adjusted Class B Principal Distributable Amount 220,207.82 (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 1995-1, 1995-4, 1996-1, FASCO 1996-1, 1996-2, 1996-3, and 1997-1.
CERTIFICATE BALANCE Class A Beginning of Period Principal Balance 151,725,567.37 Class A Principal Distributions 4,601,296.63 Class A End of Period Principal Balance 147,124,270.74 Class B Beginning of Period Principal Balance 8,053,282.93 Class B Principal Distributable Amount 220,207.82 Class B End of Period Principal Balance BEFORE Spread Account Distributions 7,833,075.11 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 7,833,075.11 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 6,007,297.97 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 1,066,737.60 (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) 4,940,560.37 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 4,940,560.37 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 68,788.46 (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) 4,871,771.91 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 4,871,771.91 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 4,601,296.63 (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) 270,475.28 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 270,475.28 (vi) Certificate Insurer Premium 50,267.46 (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) 220,207.82 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 220,207.82 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 242,173.51 (iii) Prior month(s) carryover shortfalls 67,727.09 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (89,692.78) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (89,692.78) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 11,178,000.00 Purchased receivables more than 30 days delinquent 17,197.00 --------------- Total 11,195,197.00 Aggregate Gross Principal Balance as of the close of 172,397,830.20 business on the last day of the Collection Period. DELINQUENCY RATIO 6.49% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 6.49% Delinquency Ratio for second preceding Determination Date 5.48% Delinquency Ratio for third preceding Determination Date 5.78% --------------- Average Delinquency Ratio 5.90% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 6,070,229.85 Current Period Defaulted Receivables 1,380,359.62 --------------- Total 7,450,589.47 Cumulative Defaulted Receivables 7,450,589.47 Original Pool Balance 186,954,818.61 Cumulative Default Ratio 3.99% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,809,402.44 Cram Down Losses 0.00 Net Liquidation Proceeds (691,019.23) --------------- Net Liquidation Losses 1,118,383.21 Cumulative Previous Net Losses 3,221,714.21 --------------- Cumulative Net Losses 4,340,097.42 Original Pool Balance 186,954,818.61 Cumulative Net Loss Ratio 2.32% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.10 Weighted Average Remaining Term 47.83 Weighted Average Annual Percentage Rate 20.33% SPREAD ACCOUNT Spread Account Cap 13.5% of Outstanding Certificate Balance 20,919,241.69 18.5% of Outstanding Certificate Balance 28,667,108.98 Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) --------------- Cap Amount 46,487,203.76 Spread Account Floor 3% of the Initial Certificate Balance 5,608,644.56 Outstanding Certificate Balance 154,957,345.85 Minimum Floor 100,000.00 --------------- Floor Amount 5,608,644.56 Required Spread Account Amount 46,487,203.76 Beginning of Period Spread Account Balance 21,296,552.10 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 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 25,190,651.66 Earnings on Spread Account Balance 101,256.15 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 21,397,808.25 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 12/15/98 Collection Period 11/98 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 $5,387,771.65 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $926,177.41 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $4,461,594.24 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $26.87 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $4.62 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $22.25 (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) $317,585.19 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $82,764.44 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $234,820.75 (j) Scheduled Payments due in such Collection Period $5,643,630.14 (k) Scheduled Payments collected in such Collection Period $5,296,882.55 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 $187,406,754.84 (c) The Aggregate Pool factor as of the close of business on the last day set forth above 0.8880057 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 $356,939.97 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $4,002.15 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.78 (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 0 Aggregate Purchase Amount $0.00 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 $32,242.44 (b) Distributions (to) from Collection Account ($1,489.26) for Payaheads (c) Interest earned on Payahead Balances $287.98 (d) Ending Payahead Account Balance $31,041.16 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 $56,222,026.45 Spread Account Balance $20,516,583.04 (b) The change in the spread account on the Distribution Date set forth above $628,889.19 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 $60,829.11 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,050,271.37 (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 548 Aggregate Gross Amount $7,206,000.00 (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 453 Aggregate Gross Amount $6,170,000.00 8 Performance Triggers. (a) Delinquency Ratio 6.48% (b) Average Delinquency Ratio 5.78% (c) Cumulative Default Ratio 2.37% (d) Cumulative Net Loss Ratio 0.98% (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: 6,738,006.99 LOCK BOX NSF ITEMS: (94,318.80) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 1,489.26 COLLECTION ACCOUNT INTEREST 24,348.65 PAYAHEAD ACCOUNT INTEREST 287.98 TOTAL COLLECTION PROCEEDS: 6,669,814.08 FOR DISTRIBUTION DATE: 12/15/98 FOR DETERMINATION DATE: 12/8/98 FOR COLLECTION PERIOD: 11/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 192,103,170.39 Principal portion of payments collected (non-prepayments) 2,320,497.68 Prepayments in full allocable to principal 866,793.00 Collections allocable to principal 3,187,290.68 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 458,852.94 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 3,646,143.62 Realized Losses 1,050,271.37 Cram Down Losses 0.00 Ending Principal Balance 187,406,755.40 INTEREST Collections allocable to interest 2,976,384.87 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 47,285.59 --------------- Total Interest 3,023,670.46 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 182,498,011.84 Beginning of Period Class B Principal Balance 9,605,157.99 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 19,887,693.85 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 36,768.02 Aggregate Payahead Balance 30,753.18 Aggregate Payahead Balance for preceding Distribution Date 32,242.44 Interest Earned on Payahead Balances 287.98 Scheduled Payments due in Collection Period 5,643,630.14 Scheduled Payments collected in Collection Period 5,296,882.55 Aggregate Amount of Realized Losses for preceding Distribution Date 1,050,271.37 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 1,205.02 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 548 7,206,000.00 60+ days delinquent 453 6,170,000.00 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 13,376,000.00 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 1,604,990.38 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 5.35% Delinquency Ratio for third preceding Determination Date 5.51% Cumulative Defaults for preceding Determination Date 3,386,163.41 Cumulative Net Losses for preceding Determination Date 1,061,606.24 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) 6,163,675.55 Liquidation Proceeds 458,852.94 Recoveries 47,285.59 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 6,669,814.08 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 2,320,497.68 Prepayments in full allocable to principal 866,793.00 Principal Balance of Liquidated Receivables 1,509,124.31 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 4,696,414.99 Class A Principal Distributable Amount Principal Distributable Amount 4,696,414.99 Times Class A Percentage (95%) 95% --------------- 4,461,594.24 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 4,461,594.24 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 182,498,011.84 Multiplied by Certificate Pass-Through Rate 6.09% Multiplied by 30/360 0.0833333 --------------- Class A Interest Distributable Amount 926,177.41 Class B Principal Distributable Amount Principal Distributable Amount 4,696,414.99 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 234,820.75 Class B Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 9,605,157.99 Multiplied by Certificate Pass-Through Rate 10.34% Multiplied by 30/360 0.0833333 --------------- Class B Coupon Interest Amount 82,764.44 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 4,002.15 Servicing Fee (2.0%) 320,171.95 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 36,768.02 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 1,200.64 Trustee's out-of-pocket expenses 1,205.02 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 1,200.64 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 926,177.41 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 926,177.41 (vi) Class B Coupon Interest - Unadjusted 82,764.44 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 82,764.44 (vii) Class A Principal Distributable Amount - Current Month 4,461,594.24 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 4,461,594.24 (viii) Certificate Insurer Premium 60,829.11 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 234,820.75 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 234,820.75 (xi) Remaining amounts to Collateral Agent for deposit in Spread Account 539,079.71 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 1995-1, 1995-4, 1996-1, FASCO 1996-1, 1996-2, 1996-3, and 1997-1.
CERTIFICATE BALANCE Class A Beginning of Period Principal Balance 182,498,011.84 Class A Principal Distributions 4,461,594.24 Class A End of Period Principal Balance 178,036,417.60 Class B Beginning of Period Principal Balance 9,605,157.99 Class B Principal Distributable Amount 234,820.75 Class B End of Period Principal Balance BEFORE Spread Account Distributions 9,370,337.24 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 9,370,337.24 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 6,669,814.08 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 1,290,725.83 (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) 5,379,088.25 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 5,379,088.25 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 82,764.44 (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) 5,296,323.81 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 5,296,323.81 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 4,461,594.24 (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) 834,729.57 OTHER DEFICIENCIES - INSURANCE (i) Amounts available to make payments for insurance 834,729.57 Certificate Insurer Premium 60,829.11 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) 773,900.46 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 773,900.46 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 234,820.75 (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) 539,079.71 Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 539,079.71 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 13,376,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 13,376,000.00 Aggregate Gross Principal Balance as of the close of 206,377,108.67 business on the last day of the Collection Period. Delinquency Ratio 6.48% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 6.48% Delinquency Ratio for second preceding Determination Date 5.35% Delinquency Ratio for third preceding Determination Date 5.51% --------------- Average Delinquency Ratio 5.78% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 3,386,163.41 Current Period Defaulted Receivables 1,604,990.38 --------------- Total 4,991,153.79 Cumulative Defaulted Receivables 4,991,153.79 Original Pool Balance 211,042,290.56 Cumulative Default Ratio 2.37% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,509,124.31 Cram Down Losses 0.00 Net Liquidation Proceeds (506,138.53) --------------- Net Liquidation Losses 1,002,985.78 Cumulative Previous Net Losses 1,061,606.24 --------------- Cumulative Net Losses 2,064,592.02 Original Pool Balance 211,042,290.56 Cumulative Net Loss Ratio 0.98% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.46 Weighted Average Remaining Term 50.33 Weighted Average Annual Percentage Rate 20.40% SPREAD ACCOUNT Spread Account Cap 13.5% of Outstanding Certificate Balance 25,299,911.90 19.5% of Outstanding Certificate Balance 36,544,317.19 Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) --------------- Cap Amount 56,222,026.45 Spread Account Floor 3% of the Initial Certificate Balance 6,331,268.70 Outstanding Certificate Balance 187,406,754.84 Minimum Floor 100,000.00 --------------- Floor Amount 6,331,268.70 Required Spread Account Amount 56,222,026.45 Beginning of Period Spread Account Balance 19,887,693.85 Spread Account Deposit (Withdrawal) from Current Distributions 539,079.71 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 35,795,252.89 Earnings on Spread Account Balance 89,809.48 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 20,516,583.04 Reserve Fund Initial Class B Certificate Balance 10,552,114.40 Aggregate Pool Factor 0.8880057 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 937,033.72 or Cap Amount 1,055,211.40 Reserve Fund Floor Outstanding Class B Certificate Balance 9,370,337.24 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 4,051.82 Amount of Reserve Fund deposit (withdrawal) (4,051.82) 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 12/15/98 Collection Period 11/98 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 $5,936,532.14 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $64,711.17 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $5,871,820.97 (d) The amount of the distribution set forth in paragraph A.1. (a) above $164.90 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $1.80 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $163.11 (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 $5.07 (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 $227,221,054.36 (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 $207,909,600.07 (c) The Note Pool Factor as of the close of business on the last day set forth above 0.9150103 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 $416,728.39 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $4,733.77 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $11.58 (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 2 Aggregate Purchase Amount $23,894.82 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 $77,718,241.06 Spread Account Balance $19,551,503.91 (b) The change in the spread account on the Distribution Date set forth above $92,515.66 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 $114,904.60 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,410,017.10 (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 514 Aggregate Gross Amount $6,876,000.00 (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 339 Aggregate Gross Amount $4,650,000.00 7 Performance Triggers (a) Delinquency Ratio 4.74% (b) Average Delinquency Ratio 4.14% (c) Cumulative Default Ratio 0.89% (d) Cumulative Net Loss Ratio 0.80% (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: 7,532,489.83 LOCK BOX NSF ITEMS: (90,347.56) TOTAL COLLECTION PROCEEDS: 7,442,142.27 FOR DISTRIBUTION DATE: 12/15/98 FOR DETERMINATION DATE: 12/8/98 FOR COLLECTION PERIOD: 11/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 227,221,054.36 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 227,221,054.36 Principal portion of payments collected (non-prepayments) 2,440,446.34 Prepayments in full allocable to principal 912,034.00 Collections allocable to principal 3,352,480.34 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 382,544.79 Purchase Amounts allocable to principal 23,894.82 --------------- Total Principal 3,758,919.95 Realized Losses 1,410,017.10 Cram Down Losses 0.00 Ending Principal Balance 222,052,117.31 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 3,648,832.06 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 34,390.26 --------------- Total Interest 3,683,222.32 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 14,249,421.04 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 19,458,988.25 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 38,026.63 Scheduled Payments due in Collection Period 6,511,735.03 Scheduled Payments collected in Collection Period 6,089,278.40 Aggregate Amount of Realized Losses for preceding Distribution Date 1,410,017.10 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 1,179.23 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 514 6,876,000.00 60+ days delinquent 339 4,650,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 2 23,894.82 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close 11,526,000.00 of business on the last day of the related Collection Period. Principal Balance of all Receivables that became Purchased Receivables as of 23,894.82 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 1,145,939.77 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 4.16% Delinquency Ratio for third preceding Determination Date 3.52% Cumulative Defaults for preceding Determination Date 989,409.77 Cumulative Net Losses for preceding Determination Date 542,462.41 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) 7,001,312.40 Liquidation Proceeds 382,544.79 Recoveries 34,390.26 Purchase Amounts 23,894.82 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 5,466.70 Investment earnings from Prefunding Account 0.00 Investment earnings from Interest Reserve Account 0.00 Investment earnings from Collection Account 21,166.71 --------------- TOTAL DISTRIBUTION AMOUNT 7,468,775.68 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 2,440,446.34 Prepayments in full allocable to principal 912,034.00 Principal Balance of Liquidated Receivables 1,792,561.89 Purchase Amounts allocable to principal 23,894.82 Cram Down Losses 0.00 --------------- Principal Distributable Amount 5,168,937.05 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 222,052,117.31 --------------- 199,846,905.58 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 94.1% On Payment Date when Class A-2 Notes will be reduced to 0 43.0% --------------- 98.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 5,168,937.05 Times Class A Noteholders' Percentage 94.1% --------------- 4,863,969.76 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 4,863,969.76 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 14,249,421.04 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 64,711.17 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 7,468,775.68 minus Class A Principal and Interest Distributable Amount 5,920,622.22 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Trustee and Collateral Agent distributions 3,935.49 Standby Servicer distributions 4,733.77 Servicer distributions 416,728.39 Insurance and Reimbursement Obligations 114,904.60 --------------- 1,007,851.21 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 4,733.77 Servicing Fee (2.0%) 378,701.76 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 38,026.63 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 1,420.13 Indenture Trustee's out-of-pocket expenses 1,179.23 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 1,336.13 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 64,711.17 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 64,711.17 (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 4,863,969.76 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 4,863,969.76 Class A Principal Distribution Amount to Class A-1 4,863,969.76 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 114,904.60 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 1,007,851.21 Amount to Class A-1 Noteholders 1,007,851.21 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 1995-1, 1995-4, 1996-1, FASCO 1996-1, 1996-2, 1996-3, and 1997-1.
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 14,249,421.04 Class A-1 Principal Distributions 4,863,969.76 Class A-1 End of Period Principal Amount (prior to turbo) 9,385,451.27 Additional Principal Distribution 1,007,851.21 Class A-1 End of Period Principal Amount 8,377,600.07 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 7,468,775.68 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (i) and (v)A 490,108.82 (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) 6,978,666.86 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (v) B 6,978,666.86 (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) 6,529,783.53 CLASS A-3 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (vi) A 6,529,783.53 (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) 6,404,887.70 CLASS A-4 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (vi) and (x) 6,404,887.70 (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) 5,986,725.57 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a) (vii) 5,986,725.57 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (vii) 4,863,969.76 (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) 1,122,755.81 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.8(a) (viii) 1,122,755.81 (vi) Note Insurer Premium 114,904.60 (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) 1,007,851.21 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 11,526,000.00 Purchased receivables more than 30 days delinquent 23,894.82 --------------- Total 11,549,894.82 Aggregate Gross Principal Balance as of the close of 243,904,845.41 business on the last day of the Collection Period. DELINQUENCY RATIO 4.74% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 4.74% Delinquency Ratio for second preceding Determination Date 4.12% Delinquency Ratio for third preceding Determination Date 3.52% ---------------- Average Delinquency Ratio 4.14% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 989,409.77 Current Period Defaulted Receivables 1,145,939.77 --------------- Total 2,135,349.54 Cumulative Defaulted Receivables 2,135,349.54 Original Pool Balance 240,339,160.19 Cumulative Default Ratio 0.89% 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 1,792,561.89 Cram Down Losses 0.00 Net Liquidation Proceeds (416,935.05) --------------- Net Losses 1,375,626.84 Cumulative Previous Net Losses 542,462.41 --------------- Cumulative Net Losses 1,918,089.25 Original Pool Balance 240,339,160.19 Cumulative Net Loss Ratio 0.80% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.60 Weighted Average Remaining Term 52.35 Weighted Average Annual Percentage Rate 20.44% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 222,052,117.31 minus the Securities Balance 207,909,600.07 --------------- 14,142,517.24 divided by the Aggregate Principal Balance 6.37% Floor OC Percent Aggregate Principal Balance 222,052,117.31 minus the Securities Balance 207,909,660.07 --------------- 14,142,517.24 divided by the initial Aggregate Principal Balance 240,339,160.19 --------------- 5.88% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 207,909,600.07 (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 222,052,117.31 --------------- 77,718,241.06 Requisite Amount 77,718,241.06 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 77,718,241.06 Beginning of Period Spread Account Balance 19,458,988.25 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 58,259,252.81 Earnings on Spread Account Balance 92,515.66 Amount of Spread Account deposit (withdrawal) 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 19,551,503.91 MONTHLY NOTEHOLDER STATEMENT CPS AUTO RECEIVABLES TRUST 1998-4 5.473% ASSET-BACKED NOTES, CLASS A-1 5.790% ASSET-BACKED NOTES, CLASS A-2 5.740% ASSET-BACKED NOTES, CLASS A-3 5.690% ASSET-BACKED NOTES, CLASS A-4 5.890% ASSET-BACKED NOTES, CLASS A-5 Distribution Date 12/15/98 Collection Period 11/98 Under the Sale and Servicing Agreement dated as of December 1, 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 $3,225,604.31 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $54,349.93 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $3,171,254.38 (d) The amount of total the distribution set forth in paragraph A.1. (a) above, per $1,000 $99.25 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $1.67 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $97.58 (g) The aggregate amount of the distribution to Class A-2 Noteholders on the Distribution Date set forth above $137,110.42 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $137,110.42 (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 $1.77 (k) The amount of the distribution set forth in paragraph A.1. (h) above, per $1,000 $1.77 (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 $142,722.71 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $142,722.71 (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 $1.75 (q) The amount of the distribution set forth in paragraph A.1. (n) above, per $1,000 $1.75 (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 $1,829,477.93 (t) The amount of the distribution set forth in paragraph A.1. (s) above in respect of interest $173,861.11 (u) The amount of the distribution set forth in in paragraph A.1. (s) above in respect of principal $1,655,616.82 (v) The amount of the distribution set forth in paragraph A.1. (s) above, per $1,000 $18.29 (w) The amount of the distribution set forth in paragraph A.1. (t) above, per $1,000 $1.74 (x) The amount of the distribution set forth in paragraph A.1. (u) above, per $1,000 $16.56 (y) The aggregate amount of the distribution to Class A-5 Noteholders on the Distribution Date set forth above $33,519.83 (z) The amount of the distribution set forth in paragraph A.1. (y) above in respect of interest $33,519.83 (aa) The amount of the distribution set forth in in paragraph A.1. (y) above in respect of principal $0.00 (bb) The amount of the distribution set forth in paragraph A.1. (y) above, per $1,000 $1.80 (cc) The amount of the distribution set forth in paragraph A.1. (z) above, per $1,000 1.80 (dd) The amount of the distribution set forth in paragraph A.1. (aa) 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 $275,647,271.04 (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),(aa) above $305,173,128.80 (c) The Note Pool Factor as of the close of business on the last day set forth above 1.1071146 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 $200,016.69 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,105.64 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $6.15 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 $0.00 (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 4 Aggregate Purchase Amount $44,258.87 3 Payment Shortfalls. (a) The amount of the Class A-1 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-2 Interest Carryover 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 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 after giving effect to the payments set forth in paragraph A.1. (t) above $0.00 (e) The amount of the Class A-5 Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (z) above $0.00 (f) 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),(aa) 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 $94,603,669.93 Spread Account Balance $10,404,215.21 (b) The change in the spread account on the Distribution Date set forth above $2,134,797.08 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 $371,237.87 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $0.00 (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 346 Aggregate Gross Amount $4,660,000.00 (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 43 Aggregate Gross Amount $551,000.00 7 Performance Triggers. (a) Delinquency Ratio 1.79% (b) Average Delinquency Ratio 1.79% (c) Cumulative Default Ratio 0.01% (d) Cumulative Net Loss Ratio 0.00% (e) Is a Portfolio Performance Test violation continuing? No (f) Has an Insurance Agreement Event of Default occurred? No(a)
CPS AUTO RECEIVABLES TRUST 1998-4 STATEMENT TO NOTEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 8,117,724.99 LOCK BOX NSF ITEMS: (33,290.40) TOTAL COLLECTION PROCEEDS: 8,084,434.59 FOR DISTRIBUTION DATE: 12/15/98 FOR DETERMINATION DATE: 12/8/98 FOR COLLECTION PERIOD: 11/98 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 275,647,271.04 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 275,647,271.04 Principal portion of payments collected (non-prepayments) 3,913,371.33 Prepayments in full allocable to principal 869,241.00 Collections allocable to principal 4,782,612.33 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 0.00 Purchase Amounts allocable to principal 44,258.87 --------------- Total Principal 4,826,871.20 Realized Losses 0.00 Cram Down Losses 0.00 Ending Principal Balance 270,820,399.84 PREFUNDING Original Amount in Prefunding Account 34,352,728.96 Subsequent Loans Sold to the Trust 0.00 Balance of Prefunding Account 34,352,728.96 INTEREST Collections allocable to interest 3,257,563.39 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 0.00 --------------- Total Interest 3,257,563.39 NOTE INFORMATION Beginning of Period Class A-1 Principal Balance 32,500,000.00 Beginning of Period Class A-2 Principal Balance 77,500,000.00 Beginning of Period Class A-3 Principal Balance 81,375,000.00 Beginning of Period Class A-4 Principal Balance 100,000,000.00 Beginning of Period Class A-5 Principal Balance 18,625,000.00 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 8,269,418.13 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 31,565.58 Scheduled Payments due in Collection Period 7,704,648.62 Scheduled Payments collected in Collection Period 7,170,934.72 Aggregate Amount of Realized Losses for preceding Distribution Date 0.00 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 0.00 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 346 4,660,000.00 60+ days delinquent 43 551,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 4 44,258.87 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. 5,211,000.00 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. 44,258.87 Principal Balance of all Receivables that became Defaulted Receivables during the related Collection Period. 13,825.25 Delinquency Ratio for second preceding Determination Date 0.00% Delinquency Ratio for third preceding Determination Date 0.00% Cumulative Defaults for preceding Determination Date 0.00 Cumulative Net Losses for preceding Determination Date 0.00 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 INTEREST RESERVE ACCOUNT Weighted Average of the Interest Rates and Pass-Through Rates 5.7174% Minus 2.5% (the assumed yield) 2.50% --------------- 3.2174% Divided by 360 0.0089% Times the prefunded amount 34,352,728.96 Times the number of days outstanding in prefunding period (12/4 - 2/15) 73.00 --------------- Requisite Reserve Amount 224,122.50 Amount in Interest Reserve Account 224,122.50 --------------- Excess in Interest Reserve Account 0.00 TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 8,040,175.72 Liquidation Proceeds 0.00 Recoveries 0.00 Purchase Amounts 44,258.87 Note Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Excess released from Interest Reserve Account 0.00 Investment earnings from Note Distribution Account 0.00 Investment earnings from Prefunding Account 0.00 Investment earnings from Interest Reserve Account 0.00 Investment earnings from Collection Account 0.00 --------------- TOTAL DISTRIBUTION AMOUNT 8,084,434.59 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 3,913,371.33 Prepayments in full allocable to principal 869,241.00 Principal Balance of Liquidated Receivables 0.00 Purchase Amounts allocable to principal 44,258.87 Cram Down Losses 0.00 --------------- Principal Distributable Amount 4,826,871.20 Sequential Pay Noteholders' Percentage (A-1, A-2 & A-3) Have the Class A-4 Notes been reduced to 0? No Sequential Noteholders Percentage 65.7% If Class A-4 Notes have been reduced to 0 100.0% Sequential Pay Noteholders' Principal Distributable Amount Principal Distributable Amount 4,826,871.20 Sequential Pay Noteholders Percentage 65.7% --------------- Sequential Pay Noteholders' Principal Distributable Amount 3,171,254.38 Class A-4 Noteholders's Percentage Have the Sequential Pay Notes been reduced to 0? No Class A-4 Noteholder's Percentage 34.3% If Sequential Pay Notes have been reduced to 0 100.0% Class A-4 Noteholders' Principal Distributable Amount Principal Distributable Amount 4,826,871.20 Class A-4 Noteholders Percentage 34.3% --------------- Class A-4 Noteholders' Principal Distributable Amount 1,655,616.82 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 32,500,000.00 Multiplied by the Note Rate 5.4730% Multiplied by actual/360, or for the first Distribution Date, by 11/360 0.0305556 --------------- Class A Interest Distributable Amount 54,349.93 Class A-2 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 77,500,000.00 Multiplied by the Note Rate 5.7900% Multiplied by actual/360, or for the first Distribution Date, by 11/360 0.0305556 --------------- Class A Interest Distributable Amount 137,110.42 Class A-3 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 81,375,000.00 Multiplied by the Note Rate 5.7400% Multiplied by actual/360, or for the first Distribution Date, by 11/360 0.0305556 --------------- Class A Interest Distributable Amount 142,722.71 Class A-4 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 100,000,000.00 Multiplied by the Note Rate 5.6900% Multiplied by actual/360, or for the first Distribution Date, by 11/360 0.0305556 --------------- Class A Interest Distributable Amount 173,861.11 Class A-5 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 18,625,000.00 Multiplied by the Note Rate 5.8900% Multiplied by actual/360, or for the first Distribution Date, by 11/360 0.0305556 --------------- Class A Interest Distributable Amount 33,519.83 Excess Interest Amount Total Distribution Amount 8,084,434.59 minus Class A Principal and Interest Distributable Amount 5,368,435.20 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Trustee and Collateral Agent distributions 1,342.11 Standby Servicer distributions 2,105.64 Servicer distributions 200,016.69 Insurance and Reimbursement Obligations 371,237.87 --------------- 2,141,297.08 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Sequential Pay Noteholders' Principal Carryover Shortfall 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-5 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 Class A-5 Interest Carryover Shortfall from previous period 0.00 --------------- 0.00
Calculations Distributions (Pursuant to Section 5.7(a) of the Sale and Servicing Agreement): Use --- (i) Standby Servicer Fee 2,105.64 Backup Servicer Fee 6,500.00 Servicing Fee (2.0%) 168,451.11 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 31,565.58 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 631.69 Indenture Trustee's out-of-pocket expenses 0.00 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 710.42 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 54,349.93 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 54,349.93 (B) Class A-2 Interest Distributable Amount - Current Month 137,110.42 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 137,110.42 (C) Class A-3 Interest Distributable Amount - Current Month 142,722.71 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 142,722.71 (D) Class A-4 Interest Distributable Amount - Current Month 173,861.11 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 173,861.11 (E) Class A-5 Interest Distributable Amount - Current Month 33,519.83 Class A-5 Note Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on Interest Shortfall - Previous Month(s) 0.00 Current Month Class A-5 Interest Shortfall 0.00 Adjusted Class A-5 Interest Distributable Amount 33,519.83 (vi) Sequential Pay Noteholders' Principal Distributable Amount 3,171,254.38 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 3,171,254.38 Class A Principal Distribution Amount to Class A-1 3,171,254.38 Class A Principal Distribution Amount to Class A-2 0.00 Class A Principal Distribution Amount to Class A-3 0.00 (vii) Class A-4 Principal Distributable Amount 1,655,616.82 Class A Principal Distribution Amount to Class A-5 0.00 (viii) Note Insurer Premium 127,155.47 Short-Term Reinsurance 63,249.07 Long-Term Reinsurance 180,833.33 Note Insurer Premium Supplement 0.00 Other Reimbursement Obligations to Note Insurer 0.00 (ix) Transition Expenses to successor Servicer 0.00 Spread Account Deposit (withdrawal) 2,134,797.08
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 32,500,000.00 Class A-1 Principal Distributions 3,171,254.38 Class A-1 End of Period Principal Amount 29,328,745.62 Class A-2 Beginning of Period Principal Amount 77,500,000.00 Class A-2 Principal Distributions 0.00 Class A-2 End of Period Principal Amount 77,500,000.00 Class A-3 Beginning of Period Principal Amount 81,375,000.00 Class A-3 Principal Distributable Amount 0.00 Class A-3 End of Period Principal Amount 81,375,000.00 Class A-4 Beginning of Period Principal Amount 100,000,000.00 Class A-4 Principal Distributable Amount 1,655,616.82 Class A-4 End of Period Principal Amount 98,344,383.18 Class A-5 Beginning of Period Principal Amount 18,625,000.00 Class A-5 Principal Distributable Amount 0.00 Class A-5 End of Period Principal Amount 18,625,000.00 Aggregate Ending Securities Balance 305,173,128.80 CLASS A-1 DEFICIENCY - INTEREST (i) Total Distribution Amount Available 8,084,434.59 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(i) thru (v)A 264,314.37 (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 Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 7,820,120.22 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)B 7,820,120.22 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)B 137,110.42 (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) 7,683,009.80 CLASS A-3 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)C 7,683,009.80 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)C 142,722.71 (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) 7,540,287.09 CLASS A-4 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)D 7,540,287.09 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)D 173,861.11 (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) 7,366,425.98 CLASS A-5 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)E 7,366,425.98 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)E 33,519.83 (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) 7,332,906.15 SEQUENTIAL PAY NOTES DEFICIENCY - PRINCIPAL (A-1, A-2 & A-3) (i) Amounts available to make payments pursuant to Section 5.7(a)(vi) 7,332,906.15 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(vi) 3,171,254.38 (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) 4,161,651.77 CLASS A-4 DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.7(a)(vii) 4,161,651.77 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(vii) 1,655,616.82 (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) 2,506,034.95 CLASS A-5 DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.7(a)(vii) 2,506,034.95 (ii) Current distribution amounts payable pursuant to Section 5.7(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) 2,506,034.95 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.7(a)(viii) 2,506,034.95 (vi) Note Insurer Premium 371,237.87 (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) 2,134,797.08 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 5,211,000.00 Purchased receivables more than 30 days delinquent 44,258.87 --------------- Total 5,255,258.87 Aggregate Gross Principal Balance as of the close of business on the last day of the Collection Period. 293,892,231.46 DELINQUENCY RATIO 1.79% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 1.79% Delinquency Ratio for second preceding Determination Date 0.00% Delinquency Ratio for third preceding Determination Date 0.00% --------------- Average Delinquency Ratio 1.79% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 0.00 Current Period Defaulted Receivables 13,825.25 --------------- Total 13,825.25 Cumulative Defaulted Receivables 13,825.25 Original Pool Balance 275,647,271.04 Cumulative Default Ratio 0.01% 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 0.00 Cram Down Losses 0.00 Net Liquidation Proceeds 0.00 --------------- Net Losses 0.00 Cumulative Previous Net Losses 0.00 --------------- Cumulative Net Losses 0.00 Original Pool Balance 275,647,271.04 Cumulative Net Loss Ratio 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: --------------------------------- Name: James L. Stock --------------------------------- Title: Vice President --------------------------------- (a) Requisite levels for spread accounts reflect insurance defaults on pools 1995-1, 1995-4, 1996-1, FASCO 1996-1, 1996-2, 1996-3, and 1997-1
ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.84 Weighted Average Remaining Term 54.72 Weighted Average Annual Percentage Rate 20.27% SPREAD ACCOUNT Spread Account Cap Current Spread Account % 2.7% 21.0% of Outstanding Notes Balance if no Trigger Event 64,086,357.05 26.0% of Outstanding Notes Balance if a Trigger Event Exists 79,345,013.49 31.0% of Outstanding Notes Balance if an Insurance Event of Default 94,603,669.93 Is a Trigger Event continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) Requisite Amount 94,603,669.93 Spread Account Floor 2.5% of the Initial Certificate Balance 9,300,000.00 Outstanding Certificate Balance 305,173,128.80 Minimum Floor 100,000.00 --------------- Floor Amount 9,300,000.00 Required Spread Account Amount 94,603,669.93 Beginning of Period Spread Account Balance 8,269,418.13 Additional Deposit for Subsequent Receivables Transfer 0.00 Spread Account Deposit (Withdrawal) from Current Distributions 2,134,797.08 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 84,199,454.72 Earnings on Spread Account Balance 0.00 Amount of Spread Account deposit (withdrawal) 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 10,404,215.21