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) February 15, 1999 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) Item 5. Other Events. None Item 7. Financial Statements and Exhibits. (c) Exhibits. Exhibit No. Document Description 20.32 Monthly Servicing Report for the January 1999 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: February 22, 1999 By: /s/ Jeffrey P. Fritz Name: Jeffrey P. Fritz Title: Chief Financial Officer INDEX TO EXHIBITS Exhibit Sequential No. Document Description Page No. 20.32 Monthly Servicing Report for the January 1999 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 2/16/99 Collection Period 1/99 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 $1,394,083.57 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $138,281.35 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,255,802.22 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $16.51 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $1.64 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $14.87 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $77,039.16 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $10,944.31 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $66,094.85 (j) Scheduled Payments due in such Collection Period $1,311,783.96 (k) Scheduled Payments collected in such Collection Period $1,193,958.62 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 $26,266,343.14 (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 $24,944,446.04 (c) The Pool factor as of the close of business on the last day set forth above 0.9496733 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 $58,684.14 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $1,751.09 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.69 (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 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 $23,312.95 (b) Distributions (to) from Collection Account ($5,860.17) for Payaheads (c) Interest earned on Payahead Balances $86.51 (d) Ending Payahead Account Balance $17,539.29 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 $23,697,223.76 Spread Account Balance $5,676,399.73 (b) The change in the spread account on the Distribution Date set forth above $73,983.52 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 $6,911.69 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $235,878.10 (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 155 Aggregate Gross Amount $1,203,000.00 (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 113 Aggregate Gross Amount $968,000.00 8 Performance Triggers. (a) Delinquency Ratio 7.90% (b) Average Delinquency Ratio 7.46% (c) Cumulative Default Ratio 18.61% (d) Cumulative Net Loss Ratio 13.82% (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: 1,604,488.89 LOCK BOX NSF ITEMS: (33,255.04) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 5,860.17 COLLECTION ACCOUNT INTEREST 6,160.34 PAYAHEAD ACCOUNT INTEREST 86.51 TOTAL COLLECTION PROCEEDS: 1,583,340.87 FOR DISTRIBUTION DATE: 2/16/99 FOR DETERMINATION DATE: 2/8/99 FOR COLLECTION PERIOD: 1/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 26,266,343.14 Principal portion of payments collected (non-prepayments) 768,427.39 Prepayments in full allocable to principal 248,793.00 Collections allocable to principal 1,017,220.39 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 68,798.58 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,086,018.97 Realized Losses 235,878.10 Cram Down Losses 0.00 Ending Principal Balance 24,944,446.07 INTEREST Collections allocable to interest 425,531.23 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 71,790.67 --------------- Total Interest 497,321.90 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 24,953,025.98 Beginning of Period Class B Principal Balance 1,313,317.13 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 5,602,416.21 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 14,906.90 Aggregate Payahead Balance 17,452.78 Aggregate Payahead Balance for preceding Distribution Date 23,312.95 Interest Earned on Payahead Balances 86.51 Scheduled Payments due in Collection Period 1,311,783.96 Scheduled Payments collected in Collection Period 1,193,958.62 Aggregate Amount of Realized Losses for preceding Distribution Date 235,878.10 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 334.02 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 155 1,203,000.00 60+ days delinquent 113 968,000.00 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 2,171,000.00 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 239,775.53 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 7.26% Delinquency Ratio for third preceding Determination Date 7.21% Cumulative Defaults for preceding Determination Date 16,303,131.86 Cumulative Net Losses for preceding Determination Date 12,122,376.83 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) 1,442,751.62 Liquidation Proceeds 68,798.58 Recoveries 71,790.67 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 1,583,340.87 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 768,427.39 Prepayments in full allocable to principal 248,793.00 Principal Balance of Liquidated Receivables 304,676.68 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 1,321,897.07 Class A Principal Distributable Amount Principal Distributable Amount 1,321,897.07 Times Class A Percentage (95%) 95% --------------- 1,255,802.22 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,255,802.22 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 24,953,025.98 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 138,281.35 Class B Principal Distributable Amount Principal Distributable Amount 1,321,897.07 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 66,094.85 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 1,313,317.13 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 10,944.31 Class B Excess Interest Amount Total Distribution Amount 1,583,340.87 minus Class A Principal and Interest Distributable Amount 1,394,083.57 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 10,944.31 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 66,094.85 Class B Principal Carryover Shortfall 0.00 Trustee distributions 662.35 Standby Servicer distributions 1,751.09 Servicer distributions 58,684.14 Collateral Agent distributions 328.33 Reimbursement Obligations 6,911.69 --------------- 43,880.54 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 1,751.09 Servicing Fee (2.0%) 43,777.24 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 14,906.90 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 328.33 Trustee's out-of-pocket expenses 334.02 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 328.33 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 138,281.35 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 138,281.35 (viii)(A) Class B Coupon Interest - Unadjusted 10,944.31 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 10,944.31 (v)(B) Class A Principal Distributable Amount - Current Month 1,255,802.22 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 1,255,802.22 (vi) Certificate Insurer Premium 6,911.69 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 66,094.85 Class B Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class B Principal Shortfall 0.00 Adjusted Class B Principal Distributable Amount 66,094.85 (C) Excess Interest Amount for Deposit in Spread Account 43,880.54 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 24,953,025.98 Class A Principal Distributions 1,255,802.22 Class A End of Period Principal Balance 23,697,223.76 Class B Beginning of Period Principal Balance 1,313,317.13 Class B Principal Distributable Amount 66,094.85 Class B End of Period Principal Balance BEFORE Spread Account Distributions 1,247,222.28 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 1,247,222.28 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 1,583,340.87 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 199,707.26 (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) 1,383,633.61 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 1,383,633.61 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 10,944.31 (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) 1,372,689.30 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 1,372,689.30 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,255,802.22 (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) 116,887.08 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 116,887.08 (vi) Certificate Insurer Premium 6,911.69 (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) 109,975.39 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 109,975.39 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 66,094.85 (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) 43,880.54 Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 43,880.54 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 2,171,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 2,171,000.00 Aggregate Gross Principal Balance as of the close of 27,476,298.85 business on the last day of the Collection Period. DELINQUENCY RATIO 7.90% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 7.90% Delinquency Ratio for second preceding Determination Date 7.26% Delinquency Ratio for third preceding Determination Date 7.21% --------------- Average Delinquency Ratio 7.46% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 16,303,131.86 Current Period Defaulted Receivables 239,775.53 --------------- Total 16,542,907.39 Cumulative Defaulted Receivables 16,542,907.39 Original Pool Balance 88,900,750.37 Cumulative Default Ratio 18.61% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 304,676.68 Cram Down Losses 0.00 Net Liquidation Proceeds (140,589.25) --------------- Net Liquidation Losses 164,087.43 Cumulative Previous Net Losses 12,122,376.83 --------------- Cumulative Net Losses 12,286,464.26 Original Pool Balance 88,900,750.37 Cumulative Net Loss Ratio 13.82% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 54.67 Weighted Average Remaining Term 25.32 Weighted Average Annual Percentage Rate 20.30% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 2,494,444.60 15% of Outstanding Certificate Balance 3,741,666.91 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y-WAIVED --------------- Cap Amount 23,697,223.76 Spread Account Floor 3% of the Initial Certificate Balance 2,667,022.51 Outstanding Certificate Balance 24,944,446.04 Minimum Floor 100,000.00 --------------- Floor Amount 2,667,022.51 Required Spread Account Amount 23,697,223.76 Beginning of Period Spread Account Balance 5,602,416.21 Spread Account Deposit (Withdrawal) from Current Distributions 43,880.54 Transfer (to) from Cross-Collateralized Spread Accounts 3,655.15 Required addition to/(eligible withdrawal from) Spread Account 18,047,271.86 Earnings on Spread Account Balance 26,447.83 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 5,676,399.73 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1996-2 6.70% ASSET-BACKED CERTIFICATES Distribution Date 2/16/99 Collection Period 1/99 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 $1,623,339.09 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $177,100.04 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,446,239.05 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $18.55 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $2.02 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $16.52 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $154,422.59 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $19,247.30 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $135,175.29 (j) Scheduled Payments due in such Collection Period $1,473,115.97 (k) Scheduled Payments collected in such Collection Period $1,330,497.21 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 $33,388,852.01 (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 $32,181,955.88 (c) The Pool factor as of the close of business on the last day set forth above 0.9638533 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 $71,361.45 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,225.92 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.82 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $0.03 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (c) above $0.00 4 Payahead Account. (a) The aggregate Payahead Balance on the prior Distribution Date $27,558.62 (b) Distributions (to) from Collection Account ($8,534.87) for Payaheads (c) Interest earned on Payahead Balances $93.16 (d) Ending Payahead Account Balance $19,116.91 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 $30,273,170.33 Spread Account Balance $4,789,233.65 (b) The change in the spread account on the Distribution Date set forth above $28,220.26 6 Policy. (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $8,829.67 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $309,165.13 (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 180 Aggregate Gross Amount $1,627,000.00 (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 117 Aggregate Gross Amount $1,165,000.00 8 Performance Triggers. (a) Delinquency Ratio 7.84% (b) Average Delinquency Ratio 7.45% (c) Cumulative Default Ratio 18.00% (d) Cumulative Net Loss Ratio 13.29% (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: 1,871,448.53 LOCK BOX NSF ITEMS: (25,539.78) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 8,534.87 COLLECTION ACCOUNT INTEREST 6,765.24 PAYAHEAD ACCOUNT INTEREST 93.16 TOTAL COLLECTION PROCEEDS: 1,861,302.02 FOR DISTRIBUTION DATE: 2/16/99 FOR DETERMINATION DATE: 2/8/99 FOR COLLECTION PERIOD: 1/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 33,388,852.01 Principal portion of payments collected (non-prepayments) 740,621.17 Prepayments in full allocable to principal 358,197.00 Collections allocable to principal 1,098,818.17 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 114,373.59 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,213,191.76 Realized Losses 309,165.13 Cram Down Losses 0.00 Ending Principal Balance 31,866,495.12 INTEREST Collections allocable to interest 589,876.04 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 58,234.22 --------------- Total Interest 648,110.26 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 31,719,409.38 Beginning of Period Class B Principal Balance 2,043,960.84 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 4,761,013.39 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 15,713.36 Aggregate Payahead Balance 19,023.75 Aggregate Payahead Balance for preceding Distribution Date 27,558.62 Interest Earned on Payahead Balances 93.16 Scheduled Payments due in Collection Period 1,473,115.97 Scheduled Payments collected in Collection Period 1,330,497.21 Aggregate Amount of Realized Losses for preceding Distribution Date 309,165.13 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 283.90 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 180 1,627,000.00 60+ days delinquent 117 1,165,000.00 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 2,792,000.00 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 339,380.08 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 6.81% Delinquency Ratio for third preceding Determination Date 7.71% Cumulative Defaults for preceding Determination Date 16,243,419.41 Cumulative Net Losses for preceding Determination Date 11,991,249.96 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) 1,688,694.21 Liquidation Proceeds 114,373.59 Recoveries 58,234.22 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 1,861,302.02 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 740,621.17 Prepayments in full allocable to principal 358,197.00 Principal Balance of Liquidated Receivables 423,538.72 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 1,522,356.89 Class A Principal Distributable Amount Principal Distributable Amount 1,522,356.89 Times Class A Percentage (95%) 95% --------------- 1,446,239.05 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,446,239.05 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 31,719,409.38 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 177,100.04 Class B Principal Distributable Amount Principal Distributable Amount 1,522,356.89 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 76,117.84 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 2,043,960.84 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 19,247.30 Class B Excess Interest Amount Total Distribution Amount 1,861,302.02 minus Class A Principal and Interest Distributable Amount 1,623,339.09 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 19,247.30 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 76,117.84 Class B Principal Carryover Shortfall 374,518.23 Trustee distributions 701.26 Standby Servicer distributions 2,225.92 Servicer distributions 71,361.45 Collateral Agent distributions 422.04 Reimbursement Obligations 8,829.67 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 374,518.23 --------------- 374,518.23 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 2,225.92 Servicing Fee (2.0%) 55,648.09 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 15,713.36 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 417.36 Trustee's out-of-pocket expenses 283.90 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 422.04 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 177,100.04 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 177,100.04 (viii)(A) Class B Coupon Interest - Unadjusted 19,247.30 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 19,247.30 (v)(B) Class A Principal Distributable Amount - Current Month 1,446,239.05 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 1,446,239.05 (vi) Certificate Insurer Premium 8,829.67 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 76,117.84 Class B Principal Carryover Shortfall - Previous Month(s) 374,518.23 Current Month Class B Principal Shortfall (315,460.78) Adjusted Class B Principal Distributable Amount 135,175.29 (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 31,719,409.38 Class A Principal Distributions 1,446,239.05 Class A End of Period Principal Balance 30,273,170.33 Class B Beginning of Period Principal Balance 2,043,960.84 Class B Principal Distributable Amount 135,175.29 Class B End of Period Principal Balance BEFORE Spread Account Distributions 1,908,785.55 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 1,908,785.55 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 1,861,302.02 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 251,810.71 (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 Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 1,609,491.31 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 1,609,491.31 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 19,247.30 (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) 1,590,244.01 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 1,590,244.01 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,446,239.05 (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) 144,004.96 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 144,004.96 (vi) Certificate Insurer Premium 8,829.67 (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) 135,175.29 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 135,175.29 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 76,117.84 (iii)Prior month(s) carryover shortfalls 374,518.23 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (315,460.78) Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (315,460.78) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 2,792,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 2,792,000.00 Aggregate Gross Principal Balance as of the close of 35,605,623.69 business on the last day of the Collection Period. DELINQUENCY RATIO 7.84% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 7.84% Delinquency Ratio for second preceding Determination Date 6.81% Delinquency Ratio for third preceding Determination Date 7.71% --------------- Average Delinquency Ratio 7.45% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 16,243,419.41 Current Period Defaulted Receivables 339,380.08 --------------- Total 16,582,799.49 Cumulative Defaulted Receivables 16,582,799.49 Original Pool Balance 92,129,299.54 Cumulative Default Ratio 18.00% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 423,538.72 Cram Down Losses 0.00 Net Liquidation Proceeds (172,607.81) --------------- Net Liquidation Losses 250,930.91 Cumulative Previous Net Losses 11,991,249.96 --------------- Cumulative Net Losses 12,242,180.87 Original Pool Balance 92,129,299.54 Cumulative Net Loss Ratio 13.29% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 55.54 Weighted Average Remaining Term 28.92 Weighted Average Annual Percentage Rate 20.43% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 3,218,195.59 15% of Outstanding Certificate Balance 4,827,293.38 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y-WAIVED --------------- Cap Amount 30,273,170.33 Spread Account Floor 3% of the Initial Certificate Balance 2,763,878.99 Outstanding Certificate Balance 32,181,955.88 Minimum Floor 100,000.00 --------------- Floor Amount 2,763,878.99 Required Spread Account Amount 30,273,170.33 Beginning of Period Spread Account Balance 4,761,013.39 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 5,168.89 Required addition to/(eligible withdrawal from) Spread Account 25,506,988.05 Earnings on Spread Account Balance 23,051.37 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 4,789,233.65 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1996-3 6.30% ASSET-BACKED CERTIFICATES Distribution Date 2/16/99 Collection Period 1/99 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 $1,968,526.26 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $200,791.74 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,767,734.52 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $22.32 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $2.28 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $20.04 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $97,962.47 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $21,156.47 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $76,806.00 (j) Scheduled Payments due in such Collection Period $1,621,646.04 (k) Scheduled Payments collected in such Collection Period $1,517,786.54 B. Information Regarding the Performance of the Trust. 1 Pool Balance and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $40,258,994.60 (b) The aggregate balance of the Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c) above $38,902,761.54 (c) The Pool factor as of the close of business on the last day set forth above 0.9663123 2 Servicing Fee and Purchased Receivables. (a) The aggregate amount of the Servicing Fee (exclusive of the Standby Fee paid to the Standby Servicer) paid to the Servicer with respect to the Collection Period set forth above $82,107.60 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,683.93 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.93 (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 $25,330.02 (b) Distributions (to) from Collection Account ($8,064.08) for Payaheads (c) Interest earned on Payahead Balances $87.89 (d) Ending Payahead Account Balance $17,353.83 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 $10,943,493.10 Spread Account Balance $6,050,565.75 (b) The change in the spread account on the Distribution Date set forth above $30,139.65 6 Policy. (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $10,639.51 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $492,147.41 (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 188 Aggregate Gross Amount $1,805,000.00 (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 144 Aggregate Gross Amount $1,586,000.00 8 Performance Triggers. (a) Delinquency Ratio 7.81% (b) Average Delinquency Ratio 7.53% (c) Cumulative Default Ratio 16.33% (d) Cumulative Net Loss Ratio 12.84% (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: 2,169,037.14 LOCK BOX NSF ITEMS: (21,804.26) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 8,064.08 COLLECTION ACCOUNT INTEREST 7,906.54 PAYAHEAD ACCOUNT INTEREST 87.89 TOTAL COLLECTION PROCEEDS: 2,163,291.39 FOR DISTRIBUTION DATE: 2/16/99 FOR DETERMINATION DATE: 2/8/99 FOR COLLECTION PERIOD: 1/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 40,258,994.60 Principal portion of payments collected (non-prepayments) 803,829.08 Prepayments in full allocable to principal 424,473.00 Collections allocable to principal 1,228,302.08 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 140,323.69 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,368,625.77 Realized Losses 492,147.41 Cram Down Losses 0.00 Ending Principal Balance 38,398,221.42 INTEREST Collections allocable to interest 713,957.46 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 80,708.16 --------------- Total Interest 794,665.62 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 38,246,044.84 Beginning of Period Class B Principal Balance 2,501,257.22 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 6,020,426.10 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 15,009.28 Aggregate Payahead Balance 17,265.94 Aggregate Payahead Balance for preceding Distribution Date 25,330.02 Interest Earned on Payahead Balances 87.89 Scheduled Payments due in Collection Period 1,621,646.04 Scheduled Payments collected in Collection Period 1,517,786.54 Aggregate Amount of Realized Losses for preceding Distribution Date 492,147.41 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 359.04 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 188 1,805,000.00 60+ days delinquent 144 1,586,000.00 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 3,391,000.00 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 458,061.29 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 7.52% Delinquency Ratio for third preceding Determination Date 7.27% Cumulative Defaults for preceding Determination Date 14,701,710.58 Cumulative Net Losses for preceding Determination Date 11,516,065.49 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) 1,942,259.54 Liquidation Proceeds 140,323.69 Recoveries 80,708.16 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 2,163,291.39 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 803,829.08 Prepayments in full allocable to principal 424,473.00 Principal Balance of Liquidated Receivables 632,471.10 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 1,860,773.18 Class A Principal Distributable Amount Principal Distributable Amount 1,860,773.18 Times Class A Percentage (95%) 95% --------------- 1,767,734.52 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,767,734.52 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 38,246,044.84 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 200,791.74 Class B Principal Distributable Amount Principal Distributable Amount 1,860,773.18 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 93,038.66 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 2,501,257.22 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 21,156.47 Class B Excess Interest Amount Total Distribution Amount 2,163,291.39 minus Class A Principal and Interest Distributable Amount 1,968,526.26 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 21,156.47 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 93,038.66 Class B Principal Carryover Shortfall 488,307.48 Trustee distributions 862.28 Standby Servicer distributions 2,683.93 Servicer distributions 82,107.60 Collateral Agent distributions 509.34 Reimbursement Obligations 10,639.51 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 488,307.48 --------------- 488,307.48 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 2,683.93 Servicing Fee (2.0%) 67,098.32 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 15,009.28 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 503.24 Trustee's out-of-pocket expenses 359.04 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 509.34 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 200,791.74 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 200,791.74 (viii)(A) Class B Coupon Interest - Unadjusted 21,156.47 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 21,156.47 (v)(B) Class A Principal Distributable Amount - Current Month 1,767,734.52 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 1,767,734.52 (vi) Certificate Insurer Premium 10,639.51 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 93,038.66 Class B Principal Carryover Shortfall - Previous Month(s) 488,307.48 Current Month Class B Principal Shortfall (504,540.14) Adjusted Class B Principal Distributable Amount 76,806.00 (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 38,246,044.84 Class A Principal Distributions 1,767,734.52 Class A End of Period Principal Balance 36,478,310.32 Class B Beginning of Period Principal Balance 2,501,257.22 Class B Principal Distributable Amount 76,806.00 Class B End of Period Principal Balance BEFORE Spread Account Distributions 2,424,451.22 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 2,424,451.22 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,163,291.39 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 286,954.89 (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) 1,876,336.50 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 1,876,336.50 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 21,156.47 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 1,855,180.03 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 1,855,180.03 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,767,734.52 (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) 87,445.51 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 87,445.51 (vi) Certificate Insurer Premium 10,639.51 (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) 76,806.00 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 76,806.00 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 93,038.66 (iii)Prior month(s) carryover shortfalls 488,307.48 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (504,540.14) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (504,540.14) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 3,391,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 3,391,000.00 Aggregate Gross Principal Balance as of the close of 43,397,813.34 business on the last day of the Collection Period. DELINQUENCY RATIO 7.81% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 7.81% Delinquency Ratio for second preceding Determination Date 7.52% Delinquency Ratio for third preceding Determination Date 7.27% --------------- Average Delinquency Ratio 7.53% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 14,701,710.58 Current Period Defaulted Receivables 458,061.29 --------------- Total 15,159,771.87 Cumulative Defaulted Receivables 15,159,771.87 Original Pool Balance 92,857,811.12 Cumulative Default Ratio 16.33% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 632,471.10 Cram Down Losses 0.00 Net Liquidation Proceeds (221,031.85) --------------- Net Liquidation Losses 411,439.25 Cumulative Previous Net Losses 11,516,065.49 --------------- Cumulative Net Losses 11,927,504.74 Original Pool Balance 92,857,811.12 Cumulative Net Loss Ratio 12.84% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.03 Weighted Average Remaining Term 32.05 Weighted Average Annual Percentage Rate 20.48% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 3,890,276.15 15% of Outstanding Certificate Balance 5,835,414.23 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y-WAIVED --------------- Cap Amount 10,943,493.10 Spread Account Floor 3% of the Initial Certificate Balance 2,785,734.33 Outstanding Certificate Balance 38,902,761.54 Minimum Floor 100,000.00 --------------- Floor Amount 2,785,734.33 Required Spread Account Amount 10,943,493.10 Beginning of Period Spread Account Balance 6,020,426.10 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 992.43 Required addition to/(eligible withdrawal from) Spread Account 4,922,074.57 Earnings on Spread Account Balance 29,147.22 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 6,050,565.75 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1997-1 6.55% ASSET-BACKED CERTIFICATES Distribution Date 2/16/99 Collection Period 1/99 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 $2,404,473.92 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $259,359.42 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,145,114.50 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $24.73 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $2.67 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $22.07 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $31,424.80 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $31,424.80 (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 $1,883,435.86 (k) Scheduled Payments collected in such Collection Period $1,718,351.80 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 $50,017,084.55 (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 $48,605,228.95 (c) The Pool factor as of the close of business on the last day set forth above 0.9717725 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 $102,642.78 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,334.47 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.06 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $0.03 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (c) above $0.00 4 Payahead Account. (a) The aggregate Payahead Balance on the prior Distribution Date $27,211.06 (b) Distributions (to) from Collection Account ($8,349.86) for Payaheads (c) Interest earned on Payahead Balances $291.02 (d) Ending Payahead Account Balance $19,152.22 5 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $13,611,334.75 Spread Account Balance $7,085,048.81 (b) The change in the spread account on the Distribution Date set forth above $27,902.52 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 $13,233.24 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $592,027.93 (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 245 Aggregate Gross Amount $2,632,000.00 (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 174 Aggregate Gross Amount $2,027,000.00 8 Performance Triggers. (a) Delinquency Ratio 8.61% (b) Average Delinquency Ratio 8.02% (c) Cumulative Default Ratio 16.31% (d) Cumulative Net Loss Ratio 12.66% (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: 2,566,477.02 Lock Box NSF Items: (35,733.50) Transfers from (to) Payahead Account: 8,349.86 Collection Account Interest 9,811.48 Payahead Account Interest 291.02 Total Collection Proceeds: 2,549,195.88 For Distribution Date: 2/16/99 For Determination Date: 2/8/99 For Collection Period: 1/99 COLLATERAL ACTIVITY INFORMATION Principal Beginning Principal Balance 50,017,084.55 Principal portion of payments collected (non-prepayments) 919,440.28 Prepayments in full allocable to principal 551,906.00 Collections allocable to principal 1,471,346.28 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 194,641.05 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,665,987.33 Realized Losses 592,027.93 Cram Down Losses 0.00 Ending Principal Balance 47,759,069.29 INTEREST Collections allocable to interest 798,911.52 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 84,297.03 --------------- Total Interest 883,208.55 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 47,516,230.32 Beginning of Period Class B Principal Balance 3,234,113.13 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 7,057,146.29 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 19,280.97 Aggregate Payahead Balance 18,861.20 Aggregate Payahead Balance for preceding Distribution Date 27,211.06 Interest Earned on Payahead Balances 291.02 Scheduled Payments due in Collection Period 1,883,435.86 Scheduled Payments collected in Collection Period 1,718,351.80 Aggregate Amount of Realized Losses for preceding Distribution Date 592,027.93 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 420.88 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 245 2,632,000.00 60+ days delinquent 174 2,027,000.00 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. 4,659,000.00 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. 517,330.35 Delinquency Ratio for second preceding Determination Date 7.76% Delinquency Ratio for third preceding Determination Date 7.69% Cumulative Defaults for preceding Determination Date 16,173,858.36 Cumulative Net Losses for preceding Determination Date 12,445,076.68 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) 2,270,257.80 Liquidation Proceeds 194,641.05 Recoveries 84,297.03 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 2,549,195.88 DISTRIBUTABLE AMOUNT PRINCIPAL DISTRIBUTABLE AMOUNT Principal portion of payments collected (non-prepayments) 919,440.28 Prepayments in full allocable to principal 551,906.00 Principal Balance of Liquidated Receivables 786,668.98 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,258,015.26 CLASS A PRINCIPAL DISTRIBUTABLE AMOUNT Principal Distributable Amount 2,258,015.26 Times Class A Percentage (95%) 95% --------------- 2,145,114.50 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,145,114.50 CLASS A INTEREST DISTRIBUTABLE AMOUNT Beginning of Period Principal Balance of the Certificates 47,516,230.32 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 259,359.42 CLASS B PRINCIPAL DISTRIBUTABLE AMOUNT Principal Distributable Amount 2,258,015.26 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 112,900.76 CLASS B COUPON INTEREST AMOUNT Beginning of Period Principal Balance of the Certificates 3,234,113.13 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 31,424.80 CLASS B EXCESS INTEREST AMOUNT Total Distribution Amount 2,549,195.88 minus Class A Principal and Interest Distributable Amount 2,404,473.92 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 31,424.80 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 112,900.76 Class B Principal Carryover Shortfall 733,258.90 Trustee distributions 1,046.09 Standby Servicer distributions 3,334.47 Servicer distributions 102,642.78 Collateral Agent distributions 634.38 Reimbursement Obligations 13,233.24 --------------- 0.00 Carryover Shortfalls from Prior Periods Class B Principal Carryover Shortfall from previous period 733,258.90 --------------- 733,258.90 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 3,334.47 Servicing Fee (2.0%) 83,361.81 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 19,280.97 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 625.21 Trustee's out-of-pocket expenses 420.88 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 634.38 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v)(A) Class A Interest Distributable Amount - Current Month 259,359.42 Prior Month(s) Class A Carryover Shortfall 0.00 Class A Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A Interest Carryover Shortfall 0.00 Class A Interest Distributable Amount 259,359.42 (viii)(A) Class B Coupon Interest - Unadjusted 31,424.80 Class B Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class B Interest Shortfall 0.00 Adjusted Class B Interest Distributable Amount 31,424.80 (v)(B) Class A Principal Distributable Amount - Current Month 2,145,114.50 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 2,145,114.50 (vi) Certificate Insurer Premium 13,233.24 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 112,900.76 Class B Principal Carryover Shortfall - Previous Month(s) 733,258.90 Current Month Class B Principal Shortfall (846,159.66) Adjusted Class B Principal Distributable Amount 0.00 (C) Excess Interest Amount for Deposit in Spread Account (7,593.80) 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 47,516,230.32 Class A Principal Distributions 2,145,114.50 Class A End of Period Principal Balance 45,371,115.82 Class B Beginning of Period Principal Balance 3,234,113.13 Class B Principal Distributable Amount 0.00 Class B End of Period Principal Balance BEFORE Spread Account Distributions 3,234,113.13 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 3,234,113.13 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,549,195.88 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 367,017.14 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,182,178.74 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 2,182,178.74 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 31,424.80 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 2,150,753.94 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,150,753.94 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,145,114.50 (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) 5,639.44 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 5,639.44 (vi) Certificate Insurer Premium 13,233.24 (v) Certificate Insurer Premium Supplement 0.00 Deficiency Amount (7,593.80) Withdrawal from Spread Account to Cover Deficiency 7,593.80 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) 112,900.76 (iii)Prior month(s) carryover shortfalls 733,258.90 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (846,159.66) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (846,159.66) CALCULATIONS PERFORMANCE MEASURES CALCULATION OF DELINQUENCY RATIO (CURRENT PERIOD) DELINQUENCY AMOUNT Receivables more than 30 days delinquent 4,659,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 4,659,000.00 Aggregate Gross Principal Balance as of the close of 54,093,936.47 business on the last day of the Collection Period. DELINQUENCY RATIO 8.61% CALCULATION OF AVERAGE DELINQUENCY RATIO Delinquency Ratio for most recent Determination Date 8.61% Delinquency Ratio for second preceding Determination Date 7.76% Delinquency Ratio for third preceding Determination Date 7.69% --------------- AVERAGE DELINQUENCY RATIO 8.02% CALCULATION OF CUMULATIVE DEFAULT RATIO DEFAULT AMOUNT Principal Balance of Previously Defaulted Receivables 16,173,858.36 Current Period Defaulted Receivables 517,330.35 --------------- Total 16,691,188.71 Cumulative Defaulted Receivables 16,691,188.71 Original Pool Balance 102,327,009.71 CUMULATIVE DEFAULT RATIO 16.31% CALCULATION OF CUMULATIVE NET LOSS RATIO CALCULATION OF NET LIQUIDATION LOSSES Principal Balance plus accrued and unpaid interest of Liquidated Receivables 768,668.98 Cram Down Losses 0.00 Net Liquidation Proceeds (278,938.08) --------------- Net Liquidation Losses 507,730.90 Cumulative Previous Net Losses 12,445,076.68 --------------- Cumulative Net Losses 12,952,807.58 Original Pool Balance 102,327,009.71 CUMULATIVE NET LOSS RATIO 12.66% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.35 Weighted Average Remaining Term 34.85 Weighted Average Annual Percentage Rate 20.51% SPREAD ACCOUNT SPREAD ACCOUNT CAP 10% of Outstanding Certificate Balance 4,860,522.90 15% of Outstanding Certificate Balance 7,290,784.34 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y-WAIVED --------------- Cap Amount 13,611,334.75 SPREAD ACCOUNT FLOOR 3% of the Initial Certificate Balance 3,069,810.29 Outstanding Certificate Balance 48,605,228.95 Minimum Floor 100,000.00 --------------- FLOOR AMOUNT 3,069,810.29 Required Spread Account Amount 13,611,334.75 Beginning of Period Spread Account Balance 7,057,146.29 Spread Account Deposit (Withdrawal) from Current Distributions (7,593.80) Transfer (to) from Cross-Collateralized Spread Accounts 1,323.72 Required addition to/(eligible withdrawal from) Spread Account 6,560,458.54 Earnings on Spread Account Balance 34,172.60 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 7,085,048.81 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1997-2 6.65% ASSET-BACKED CERTIFICATES Distribution Date 2/16/99 Collection Period 1/99 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 $2,718,299.52 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $350,467.52 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,367,831.90 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $23.97 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $3.09 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $20.88 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $139,152.32 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $38,273.75 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $100,878.57 (j) Scheduled Payments due in such Collection Period $2,389,208.02 (k) Scheduled Payments collected in such Collection Period $2,219,305.56 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 $66,570,818.21 (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 $64,788,295.77 (c) The Pool factor as of the close of business on the last day set forth above 0.9732237 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 $132,250.23 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $4,438.05 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.17 (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 $31,458.93 (b) Distributions (to) from Collection Account ($13,874.85) for Payaheads (c) Interest earned on Payahead Balances $112.93 (d) Ending Payahead Account Balance $17,697.01 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 $9,718,244.36 Spread Account Balance $9,186,407.86 (b) The change in the spread account on the Distribution Date set forth above $44,377.84 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 $17,755.05 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $685,473.24 (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 303 Aggregate Gross Amount $3,437,000.00 (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 225 Aggregate Gross Amount $2,642,000.00 8 Performance Triggers. (a) Delinquency Ratio 8.43% (b) Average Delinquency Ratio 7.61% (c) Cumulative Default Ratio 13.78% (d) Cumulative Net Loss Ratio 10.44% (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: 3,039,445.51 LOCK BOX NSF ITEMS: (50,367.42) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 13,874.85 COLLECTION ACCOUNT INTEREST 11,047.40 PAYAHEAD ACCOUNT INTEREST 112.93 TOTAL COLLECTION PROCEEDS: 3,014,113.27 FOR DISTRIBUTION DATE: 2/16/99 FOR DETERMINATION DATE: 2/8/99 FOR COLLECTION PERIOD: 1/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 66,570,818.21 Principal portion of payments collected (non-prepayments) 1,116,133.91 Prepayments in full allocable to principal 419,840.00 Collections allocable to principal 1,535,973.91 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 271,007.48 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,806,981.39 Realized Losses 685,473.24 Cram Down Losses 0.00 Ending Principal Balance 64,078,363.58 INTEREST Collections allocable to interest 1,103,171.65 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 103,960.23 --------------- Total Interest 1,207,131.88 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 63,242,277.31 Beginning of Period Class B Principal Balance 4,014,728.93 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 9,142,030.02 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 21,298.87 Aggregate Payahead Balance 17,584.08 Aggregate Payahead Balance for preceding Distribution Date 31,458.93 Interest Earned on Payahead Balances 112.93 Scheduled Payments due in Collection Period 2,389,208.02 Scheduled Payments collected in Collection Period 2,219,305.56 Aggregate Amount of Realized Losses for preceding Distribution Date 685,473.24 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 545.25 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 303 3,437,000.00 60+ days delinquent 225 2,642,000.00 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. 6,079,000.00 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. 703,354.74 Delinquency Ratio for second preceding Determination Date 7.54% Delinquency Ratio for third preceding Determination Date 6.85% Cumulative Defaults for preceding Determination Date 15,745,679.75 Cumulative Net Losses for preceding Determination Date 11,885,739.59 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) 2,639,145.56 Liquidation Proceeds 271,007.48 Recoveries 103,960.23 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 3,014,113.27 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,116,133.91 Prepayments in full allocable to principal 419,840.00 Principal Balance of Liquidated Receivables 956,480.72 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,492,454.63 Class A Principal Distributable Amount Principal Distributable Amount 2,492,454.63 Times Class A Percentage (95%) 95% --------------- 2,367,831.90 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,367,831.90 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 63,242,277.31 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 350,467.62 Class B Principal Distributable Amount Principal Distributable Amount 2,492,454.63 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 124,622.73 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 4,014,728.93 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 38,273.75 Class B Excess Interest Amount Total Distribution Amount 3,014,113.27 minus Class A Principal and Interest Distributable Amount 2,718,299.52 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 38,273.75 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 124,622.73 Class B Principal Carryover Shortfall 686,188.03 Trustee distributions 1,377.39 Standby Servicer distributions 4,438.05 Servicer distributions 132,250.23 Collateral Agent distributions 840.71 Reimbursement Obligations 17,755.05 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 686,188.03 --------------- 686,188.03 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A Interest Carryover Shortfall from previous period 0.00 Interest on Class A Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(c) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 4,438.05 Servicing Fee (2.0%) 110,951.36 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 21,298.87 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 832.14 Trustee's out-of-pocket expenses 545.25 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 840.71 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 350,467.62 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 350,467.62 (viii)(A) Class B Coupon Interest - Unadjusted 38,273.75 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 38,273.75 (v)(B) Class A Principal Distributable Amount - Current Month 2,367,831.90 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 2,367,831.90 (vi) Certificate Insurer Premium 17,755.05 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 124,622.73 Class B Principal Carryover Shortfall - Previous Month(s) 686,188.03 Current Month Class B Principal Shortfall (709,932.19) Adjusted Class B Principal Distributable Amount 100,878.57 (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 63,242,277.31 Class A Principal Distributions 2,367,831.90 Class A End of Period Principal Balance 60,874,445.41 Class B Beginning of Period Principal Balance 4,014,728.93 Class B Principal Distributable Amount 100,878.57 Class B End of Period Principal Balance BEFORE Spread Account Distributions 3,913,850.36 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 3,913,850.36 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 3,014,113.27 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 489,374.00 (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) 2,524,739.27 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 2,524,739.27 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 38,273.75 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 2,486,465.52 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,486,465.52 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,367,831.90 (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) 118,633.62 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 118,633.62 (vi) Certificate Insurer Premium 17,755.05 (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) 100,878.57 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 100,878.57 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 124,622.73 (iii) Prior month(s) carryover shortfalls 686,188.03 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (709,932.19) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (709,932.19) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 6,079,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 6,079,000.00 Aggregate Gross Principal Balance as of the close of 72,118,662.21 business on the last day of the Collection Period. DELINQUENCY RATIO 8.43% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 8.43% Delinquency Ratio for second preceding Determination Date 7.54% Delinquency Ratio for third preceding Determination Date 6.85% --------------- Average Delinquency Ratio 7.61% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 15,745,679.75 Current Period Defaulted Receivables 703,354.74 --------------- Total 16,449,034.49 Cumulative Defaulted Receivables 16,449,034.49 Original Pool Balance 119,362,032.46 Cumulative Default Ratio 13.78% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 956,480.72 Cram Down Losses 0.00 Net Liquidation Proceeds (374,967.71) --------------- Net Liquidation Losses 581,513.01 Cumulative Previous Net Losses 11,885,739.59 --------------- Cumulative Net Losses 12,467,252.60 Original Pool Balance 119,362,032.46 Cumulative Net Loss Ratio 10.44% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.35 Weighted Average Remaining Term 37.31 Weighted Average Annual Percentage Rate 20.44% SPREAD ACCOUNT Spread Account Cap 9% of Outstanding Certificate Balance 5,830,946.62 15% of Outstanding Certificate Balance 9,718,244.36 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) --------------- Cap Amount 9,718,244.36 Spread Account Floor 3% of the Initial Certificate Balance 3,580,860.93 Outstanding Certificate Balance 64,788,295.77 Minimum Floor 100,000.00 --------------- Floor Amount 3,580,860.93 Required Spread Account Amount 9,718,244.36 Beginning of Period Spread Account Balance 9,142,030.02 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 107.87 Required addition to/(eligible withdrawal from) Spread Account 576,106.47 Earnings on Spread Account Balance 44,269.97 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 9,186,407.86 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 2/16/99 Collection Period 1/99 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 $3,204,369.88 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $99,648.50 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $3,104,721.38 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $39.64 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $1.23 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $38.41 (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 $105,876.28 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $20,581.74 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $85,294.54 (p) The aggregate amount of the distribution to Certificateholders on the Distribution Date set forth above $105,876.28 (q) The amount of the distribution set forth in paragraph A.1. (p) above in respect of interest $20,581.74 (r) The amount of the distribution set forth in in paragraph A.1. (p) above in respect of principal $85,294.54 (s) Scheduled Payments due in such Collection Period $3,158,172.57 (t) Scheduled Payments collected in such Collection Period $2,787,653.99 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 $92,762,757.43 (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 $82,633,810.20 (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 $80,400,035.80 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8667275 (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 $2,233,774.40 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0240805 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 $183,160.49 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $4,638.14 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $2.27 (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 $0.00 (f) The amount of the Certificate Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (q) above $0.00 (g) The amount of the Certificate Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (r) above $0.00 4 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $26,805,292.71 Spread Account Balance $3,190,018.98 (b) The change in the spread account on the Distribution Date set forth above $74,073.48 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 $22,798.49 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $944,155.46 (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 380 Aggregate Gross Amount $4,421,000.00 (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 290 Aggregate Gross Amount $3,551,000.00 7 Performance Triggers (a) Delinquency Ratio 7.95% (b) Average Delinquency Ratio 7.64% (c) Cumulative Default Ratio 12.44% (d) Cumulative Net Loss Ratio 9.12% (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? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 4,050,274.52 LOCK BOX NSF ITEMS: (54,999.71) TOTAL COLLECTION PROCEEDS: 3,995,274.81 FOR DISTRIBUTION DATE: 2/16/99 FOR DETERMINATION DATE: 2/8/99 FOR COLLECTION PERIOD: 1/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 92,762,757.43 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 92,762,757.43 Principal portion of payments collected (non-prepayments) 1,363,721.57 Prepayments in full allocable to principal 702,881.00 Collections allocable to principal 2,066,602.57 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 401,023.71 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 2,467,626.28 Realized Losses 944,155.46 Cram Down Losses 0.00 Ending Principal Balance 89,350,975.69 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 1,423,932.42 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 103,716.11 --------------- Total Interest 1,527,648.53 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 19,602,982.78 Beginning of Period Class A-2 Principal Balance 61,668,000.00 Beginning of Period Class B Principal Balance 2,391,068.94 Beginning of Period Certificate Balance 2,391,068.94 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 3,115,945.50 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 28,555.89 Scheduled Payments due in Collection Period 3,158,172.57 Scheduled Payments collected in Collection Period 2,787,653.99 Aggregate Amount of Realized Losses for preceding Distribution Date 944,155.46 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 185.79 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 380 4,421,000.00 60+ days delinquent 290 3,551,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 0 0.00 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close of business on the last day of the related Collection Period. 7,972,000.00 Principal Balance of all Receivables that became Purchased Receivables as of the close of business on the last day of the related Collection Period and that were delinquent 30 days or more. 0.00 Principal Balance of all Receivables that became Defaulted Receivables during the related Collection Period. 1,244,696.82 Delinquency Ratio for second preceding Determination Date 7.46% Delinquency Ratio for third preceding Determination Date 7.51% Cumulative Defaults for preceding Determination Date 17,422,195.58 Cumulative Net Losses for preceding Determination Date 12,839,673.77 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 6.5466% minus 2.5% 2.50% --------------- 4.0466% 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) 3,490,534.99 Liquidation Proceeds 401,023.71 Recoveries 103,716.11 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 385.32 Investment earnings from Prefunding Account 0.00 Investment earnings from Interest Reserve Account 279.48 Investment earnings from Collection Account 14,754.20 --------------- TOTAL DISTRIBUTION AMOUNT 4,010,693.81 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,363,721.57 Prepayments in full allocable to principal 702,881.00 Principal Balance of Liquidated Receivables 1,345,179.17 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 3,411,781.74 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 89,350,975.69 --------------- 80,415,878.12 Class A Noteholders' Percentage After the Target Payment Date? Yes Will the Class A-2 Notes be reduced to 0? Yes 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 71.8% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 3,411.781.74 Times Class A Noteholders' Percentage 91% --------------- 3,104.721.38 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 3,104.721.38 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 19.602.982.78 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 99,648.50 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 3,411,781.74 Times Class B Percentage 2.5% --------------- Class B Principal Distributable Amount 85,294.54 Certificate Principal Distributable Amount Principal Distributable Amount 3,411,781.74 Times Certificate Percentage 2.5% --------------- Certificate Principal Distributable Amount 85,294.54 Class B Noteholders' Interest Amount Beginning of Period Principal Balance of the Notes 2,319,068.94 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 20,581.74 Certificateholders' Interest Amount Beginning of Period Principal Balance of the Certificates 2,319,068.94 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 20,581.74 Class B Excess Interest Amount Total Distribution Amount 4,010,693.81 minus Class A Principal and Interest Distributable Amount 3,204,369.88 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 20,581.74 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 85,294.54 Class B Principal Carryover Shortfall 0.00 Trustee distributions 958.81 Standby Servicer distributions 4,638.14 Servicer distributions 183,160.49 Collateral Agent distributions 715.91 Reimbursement Obligations 22,798.49 --------------- 488,175.80 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B and Certificates Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A-1 Interest Carryover Shortfall from previous period 0.00 Interest on Class A-1 Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A-1 Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A-2 Interest Carryover Shortfall from previous period Interest on Class A-2 Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A-2 Interest Shortfall Interest Earned 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(c) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 4,638.14 Servicing Fee (2.0%) 154,604.60 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 28,555.89 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 773.02 Indenture Trustee's out-of-pocket expenses 185.79 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 715.91 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 99,648.50 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 99,648.50 (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 20,581.74 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 20,581.74 (B) Certificate Interest - Unadjusted 20,581.74 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 20,581.74 (vii) Class A Principal Distributable Amount - Current Month 3,104,721.38 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 Principal Distribution Amount to Class A-1 3,104,721.38 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 22,798.49 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 85,294.54 Class B Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class B Principal Shortfall 0.00 Adjusted Class B Principal Distributable Amount 85,294.54 Certificate Principal Distributable Amount - Current Month Unadjusted 85,294.54 Certificate Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Certificate Principal Shortfall 0.00 Adjusted Certificate Principal Distributable Amount 85,294.54 (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. 54,431.32 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 19,602,982.78 Class A-1 Principal Distributions 3,104,721.38 Class A-1 End of Period Principal Amount (prior to turbo) 16,498,261.40 Additional Principal Distribution 0.00 Class A-1 End of Period Principal Amount 16,498,261.40 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 2,319,068.94 Class B Principal Distributable Amount 85,294.54 Class B End of Period Principal Amount BEFORE Spread Account Distributions 2,233,774.40 Allocations of Cash Releases to Cover B Shortfalls 0.00 Class B End of Period Principal Amount AFTER Spread Account Distributions 2,233,774.40 Certificate Beginning of Period Principal Amount 2,319,068.94 Certificate Principal Distributable Amount 85,294.54 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 2,233,774.40 Allocation of Cash Releases to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 2,233,774.40 CLASS A-1 DEFICIENCY - INTEREST (i) Total Distribution Amount Available 4,010,693.81 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(i) and (v)A 289,121.85 (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) 3,721,571.96 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(v) B 3,721,571.96 (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) 3,393,703.76 CLASS B NOTE DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) A 3,393,703.76 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(v) A 20,581.74 (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 Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 3,373,122.02 CLASS B CERTIFICATE DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) and (x) 3,373,122.02 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(vi) and (x) 20,581.74 (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 Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 3,352,540.28 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a)(vii) 3,352,540.28 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(vii) 3,104,721.38 (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) 247,818.90 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.8(a)(viii) 247,818.90 (vi) Note Insurer Premium 22,798.49 (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) 225,020.40 CLASS B NOTES & CERTIFICATES DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) and (x) 225,020.40 (ii) Amounts payable pursuant to Section 5.8(a)(vi) and (x) 170,589.08 (iii) Prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/ B Notes (Deficiency) 27,215.66 Amount Remaining for Further Distribution/ B Certificates (Deficiency) 27,215.66 Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 54,431.32 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 7,972,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 7,972,000.00 Aggregate Gross Principal Balance as of the close of 100,232,033.31 business on the last day of the Collection Period. DELINQUENCY RATIO 7.95% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 7.95% Delinquency Ratio for second preceding Determination Date 7.46% Delinquency Ratio for third preceding Determination Date 7.51% ---------------- Average Delinquency Ratio 7.64% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 17,422,195.58 Current Period Defaulted Receivables 1,244,696.82 --------------- Total 18,666,892.40 Cumulative Defaulted Receivables 18,666,892.40 Original Pool Balance 150,000,000.00 Cumulative Default Ratio 12.44% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,345,179.17 Cram Down Losses 0.00 Net Liquidation Proceeds (504,739.82) --------------- Net Liquidation Losses 840,439.35 Cumulative Previous Net Losses 12,839,673.77 --------------- Cumulative Net Losses 13,680,113.12 Original Pool Balance 150,000,000.00 Cumulative Net Loss Ratio 9.12% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.00 Weighted Average Remaining Term 39.96 Weighted Average Annual Percentage Rate 20.38% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 89,350,975.69 minus the Securities Balance 82,633,810.20 --------------- 6,717,165.49 divided by the Aggregate Principal Balance 7.52% Floor OC Percent Aggregate Principal Balance 89,350,975.69 minus the Securities Balance 82,633,810.20 --------------- 6,717,165.49 divided by the initial Aggregate Principal Balance 150,000,000.00 --------------- 4.48% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 82,633,810.20 (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 1.48% if a Trigger Event, 15% minus the OC Percent 7.48% if a Portfolio Performance Event of Default, 30% minus the OC Percent 22.48% if an Insurance Agreement Event of Default, 30% 30.00% 30.00% times the Aggregate Principal Balance 89,350,975.69 --------------- 26,805,292.71 Requisite Amount 26,805,292.71 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 26,805,292.71 Beginning of Period Spread Account Balance 3,115,945.50 Additional Deposit for Subsequent Receivables Transfer 0.00 Spread Account Deposit (Withdrawal) from Current Distributions 54,431.32 Transfer (to) from Cross-Collateralized Spread Accounts 4,789.87 Required addition to/(eligible withdrawal from) Spread Account 23,630,126.01 Earnings on Spread Account Balance 14,852.29 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 3,190,018.98 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 2/16/99 Collection Period 1/99 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 $2,334,041.67 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $84,655.65 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,249,386.02 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $43.02 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $1.56 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $41.46 (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 $155,253.02 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $31,660.38 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $123,592.64 (p) Scheduled Payments due in such Collection Period $2,358,172.57 (q) Scheduled Payments collected in such Collection Period $2,044,267.53 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 $71,751,576.04 (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) above $64,258,077.36 (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 $60,794,091.19 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8472858 (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 $3,463,986.17 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0482775 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 $138,192.03 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,587.58 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $2.55 (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 $20,783,916.98 Spread Account Balance $2,887,108.64 (b) The change in the spread account on the Distribution Date set forth above $97,689.02 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 $17,731.61 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $761,062.13 (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 293 Aggregate Gross Amount $3,486,000.00 (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 207 Aggregate Gross Amount $2,465,000.00 7 Performance Triggers. (a) Delinquency Ratio 7.68% (b) Average Delinquency Ratio 7.04% (c) Cumulative Default Ratio 9.81% (d) Cumulative Net Loss Ratio 6.94% (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: 2,995,511.24 LOCK BOX NSF ITEMS: (32,086.27) TOTAL COLLECTION PROCEEDS: 2,963,424.97 FOR DISTRIBUTION DATE: 2/16/99 FOR DETERMINATION DATE: 2/8/99 FOR COLLECTION PERIOD: 1/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 71,751,576.04 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 71,751,576.04 Principal portion of payments collected (non-prepayments) 854,809.12 Prepayments in full allocable to principal 486,326.00 Collections allocable to principal 1,341,135.12 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 369,655.52 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,710,790.64 Realized Losses 761,062.13 Cram Down Losses 0.00 Ending Principal Balance 69,279,723.27 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 $1,189,458.41 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 63,175.92 --------------- Total Interest $1,252,634.33 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 16,735,878.61 Beginning of Period Class A-2 Principal Balance 46,307,598.60 Beginning of Period Certificate Principal Balance 3,587,578.81 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 2,789,419.62 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 18,606.07 Scheduled Payments due in Collection Period 2,358,172.57 Scheduled Payments collected in Collection Period 2,044,267.53 Aggregate Amount of Realized Losses for preceding Distribution Date 761,062.13 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 166.27 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 293 3,486,000.00 60+ days delinquent 207 2,465,000.00 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. 5,951,000.00 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. 973,069.54 Delinquency Ratio for second preceding Determination Date 6.81% Delinquency Ratio for third preceding Determination Date 6.62% Cumulative Defaults for preceding Determination Date 9,449,562.32 Cumulative Net Losses for preceding Determination Date 6,652,182.13 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) 2,530,593.53 Liquidation Proceeds 369,655.52 Recoveries 63,175.92 Purchase Amounts 0.00 Note Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 11,624.90 --------------- TOTAL DISTRIBUTION AMOUNT 2,975,049.87 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 854,809.12 Prepayments in full allocable to principal 486,326.00 Principal Balance of Liquidated Receivables 1,130,717.65 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,471,852.77 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 69,279,723.27 --------------- 62,351,750.94 Class A Noteholders' Percentage After the Target Payment Date? Yes Will the Class A-2 Notes be reduced to 0? Yes 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 69.5% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 2,471,852.77 Times Class A Noteholders' Percentage 91% --------------- 2,249,386.02 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,249,386.02 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 16,735,878.61 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 84,655.65 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 2,471,852.77 Times Certificate Percentage 5.0% --------------- Class B Principal Distributable Amount 123,592.64 Certificateholders' Interest Amount Total Distribution Amount 2,975,049.87 minus Class A Principal and Interest Distributable Amount 2,577,156.56 Beginning of Period Principal Balance of the Certificates 3,587,578.81 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 31,660.38 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 31,660.38 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 123,592.64 Class B Principal Carryover Shortfall 0.00 Trustee distributions 764.20 Standby Servicer distributions 3,587.58 Servicer distributions 138,192.03 Collateral Agent distributions 555.26 Reimbursement Obligations 17,731.61 --------------- 81,809.61 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 3,587.58 Servicing Fee (2.0%) 119,585.96 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 18,606.07 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 597.93 Indenture Trustee's out-of-pocket expenses 166.27 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 555.26 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 84,655.65 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 84,655.65 (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 31,660.38 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 31,660.38 (vii) Class A Principal Distributable Amount - Current Month 2,249,386.02 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 2,249,386.02 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 17,731.61 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 123,592.64 Certificate Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Certificate Principal Shortfall 0.00 Adjusted Certificate Principal Distributable Amount 123,592.64 (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. 81,809.61 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 16,735,878.61 Class A-1 Principal Distributions 2,249,386.02 Class A-1 End of Period Principal Amount (prior to turbo) 14,486,492.59 Additional Principal Distribution 0.00 Class A-1 End of Period Principal Amount 14,486,492.59 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 3,587,578.81 Certificate Principal Distributable Amount 123,592.64 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 3,463,986.17 Withdrawal from Spread Account to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 3,463,986.17 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,975,049.87 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 470,869.61 (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) 2,504,180.26 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 2,504,180.26 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 31,660.38 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 2,472,519.88 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,472,519.88 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,249,386.02 (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) 223,133.86 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 223,133.86 (vi) Note Insurer Premium 17,731.61 (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) 205,402.25 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 205,402.25 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 123,592.64 (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) 81,809.61 Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 81,809.61 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 5,951,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 5,951,000.00 Aggregate Gross Principal Balance as of the close of 77,462,511.48 business on the last day of the Collection Period. DELINQUENCY RATIO 7.68% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 7.68% Delinquency Ratio for second preceding Determination Date 6.81% Delinquency Ratio for third preceding Determination Date 6.62% --------------- Average Delinquency Ratio 7.04% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 9,449,562.32 Current Period Defaulted Receivables 937,069.54 --------------- Total 10,386,631.86 Cumulative Defaulted Receivables 10,386,631.86 Original Pool Balance 105,860,630.11 Cumulative Default Ratio 9.81% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,130,717.65 Cram Down Losses 0.00 Net Liquidation Proceeds (432,831.44) --------------- Net Liquidation Losses 697,886.21 Cumulative Previous Net Losses 6,652,182.13 --------------- Cumulative Net Losses 7,350,068.34 Original Pool Balance 105,860,630.11 Cumulative Net Loss Ratio 6.94% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.79 Weighted Average Remaining Term 42.01 Weighted Average Annual Percentage Rate 20.28% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 69,279,723.27 minus the Securities Balance 64,258,077.36 --------------- 5,021,645.91 divided by the Aggregate Principal Balance 7.25% Floor OC Percent Aggregate Principal Balance 69,279,723.27 minus the Securities Balance 64,258,077.36 --------------- 5,021,645.91 divided by the initial Aggregate Principal Balance 105,860,630.11 --------------- 4.74% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 64,258,077.36 (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 1.75% if a Trigger Event, 15% minus the OC Percent 7.75% if a Portfolio Performance Event of Default, 30% minus the OC Percent 22.75% if an Insurance Agreement Event of Default, 30% 30.00% 30.00% times the Aggregate Principal Balance 69,279,723.27 --------------- 20,783,916.98 Requisite Amount 20,783,916.98 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 20,783,916.98 Beginning of Period Spread Account Balance 2,789,419.62 Spread Account Deposit (Withdrawal) from Current Distributions 81,809.61 Transfer (to) from Cross-Collateralized Spread Accounts 3,630.00 Required addition to/(eligible withdrawal from) Spread Account 17,909,057.75 Earnings on Spread Account Balance 12,249.41 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 2,887,108.64 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 2/16/99 Collection Period 1/99 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 $2,268,555.77 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $131,506.97 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,137,048.80 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $40.69 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $2.36 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $38.33 (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 $97,364.53 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $30,086.87 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $67,277.66 (p) Scheduled Payments due in such Collection Period $2,203,729.97 (q) Scheduled Payments collected in such Collection Period $1,906,851.32 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 $68,524,226.37 (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 $61,601,881.05 (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 $58,246,955.75 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8500199 (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 $3,354,925.31 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0489597 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 $133,447.41 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,426.21 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $2.39 (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 ($50,142.60) 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 $19,852,746.33 Spread Account Balance $2,766,564.87 (b) The change in the spread account on the Distribution Date set forth above $16,051.75 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 $18,930.26 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $803,321.20 (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 269 Aggregate Gross Amount $3,381,000.00 (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 203 Aggregate Gross Amount $2,526,000.00 7 Performance Triggers. (a) Delinquency Ratio 8.07% (b) Average Delinquency Ratio 7.33% (c) Cumulative Default Ratio 7.98% (d) Cumulative Net Loss Ratio 5.94% (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: 2,735,618.59 LOCK BOX NSF ITEMS: (35,826.47) TOTAL COLLECTION PROCEEDS: 2,699,792.12 FOR DISTRIBUTION DATE: 2/16/99 FOR DETERMINATION DATE: 2/8/99 FOR COLLECTION PERIOD: 1/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 68,524,226.37 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 68,524,226.37 Principal portion of payments collected (non-prepayments) 800,439.88 Prepayments in full allocable to principal 448,620.00 Collections allocable to principal 1,249,059.88 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 296,024.20 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,545,084.08 Realized Losses 803,321.20 Cram Down Losses 0.00 Ending Principal Balance 66,175,821.09 INTEREST Collections allocable to interest $1,106,411.44 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 48,296.60 --------------- Total Interest $1,154,708.04 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 25,209,004.55 Beginning of Period Class A-2 Principal Balance 35,175,000.00 Beginning of Period Certificate Principal Balance 3,422,202.97 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 2,750,513.12 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 19,240.37 Scheduled Payments due in Collection Period 2,203,729.97 Scheduled Payments collected in Collection Period 1,906,851.32 Aggregate Amount of Realized Losses for preceding Distribution Date 803,321.20 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 163.96 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 269 3,381,000.00 60+ days delinquent 203 2,526,000.00 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 5,907,000.00 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 752,301.58 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 6.92% Delinquency Ratio for third preceding Determination Date 7.01% Cumulative Defaults for preceding Determination Date 6,886,990.59 Cumulative Net Losses for preceding Determination Date 4,929,141.68 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) 2,355,471.32 Liquidation Proceeds 296,024.20 Recoveries 48,296.60 Purchase Amounts 0.00 Note Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 10,798.79 --------------- TOTAL DISTRIBUTION AMOUNT 2,710,590.91 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 800,439.88 Prepayments in full allocable to principal 448,620.00 Principal Balance of Liquidated Receivables 1,099,345.40 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,348,405.28 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 66,175,821.09 -------------- 59,558,238.98 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 55.1% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 2,348,405.28 Times Class A Noteholders' Percentage 91% --------------- 2,137,048.80 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,137,048.80 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 25,209,004.55 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 131,506.97 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 2,348,405.28 Times Certificate Percentage 5.0% --------------- Class B Principal Distributable Amount 117,420.26 Certificateholders' Interest Amount Total Distribution Amount 2,710,590.91 minus Class A Principal and Interest Distributable Amount 2,456,155.77 Beginning of Period Principal Balance of the Certificates 3,422,202.97 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 30,086.87 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 30,086.87 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 117,420.26 Class B Principal Carryover Shortfall 0.00 Trustee distributions 735.00 Standby Servicer distributions 3,426.21 Servicer distributions 133,447.41 Collateral Agent distributions 531.72 Reimbursement Obligations 18,930.26 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A-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 3,426.21 Servicing Fee (2.0%) 114,207.04 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 19,240.37 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Indenture Trustee Fee 571.04 Indenture Trustee's out-of-pocket expenses 163.96 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 531.72 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 131,506.97 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 131,506.97 (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 30,086.87 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 30,086.87 (vii) Class A Principal Distributable Amount - Current Month 2,137,048.80 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 2,137,048.80 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 18,930.26 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 117,420.26 Certificate Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Certificate Principal Shortfall (50,142.60) Adjusted Certificate Principal Distributable Amount 67,277.66 (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. 0.00 Spread Account Withdrawal to cover deficiencies 0.00 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ---------------------------------------------------- (a) Requisite levels for spread accounts reflect insurance defaults on pools 1995-1, 1995-4, 1996-1, FASCO 1996-1, 1996-2, 1996-3, and 1997-1.
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 25,209,004.55 Class A-1 Principal Distributions 2,137,048.80 Class A-1 End of Period Principal Amount (prior to turbo) 23,071,955.75 Additional Principal Distribution 0.00 Class A-1 End of Period Principal Amount 23,071,955.75 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 3,422,202.97 Certificate Principal Distributable Amount 67,277.66 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 3,354,925.31 Withdrawal from Spread Account to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 3,354,925.31 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,710,590.91 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 457,247.31 (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) 2,253,343.60 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 2,253,343.60 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 30,086.87 (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) 2,223,256.73 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 2,223,256.73 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 2,137,048.80 (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) 86,207.93 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 86,207.93 (vi) Note Insurer Premium 18,930.26 (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) 67,277.66 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 67,277.66 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 117,420.26 (iii)Prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (50,142.60) 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 5,907,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 5,907,000.00 Aggregate Gross Principal Balance as of the close of 73,174,966.44 business on the last day of the Collection Period. DELINQUENCY RATIO 8.07% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 8.07% Delinquency Ratio for second preceding Determination Date 6.92% Delinquency Ratio for third preceding Determination Date 7.01% ---------------- Average Delinquency Ratio 7.33% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 6,886,990.59 Current Period Defaulted Receivables 752,301.58 --------------- Total 7,639,292.17 Cumulative Defaulted Receivables 7,639,292.17 Original Pool Balance 95,706,307.00 Cumulative Default Ratio 7.98% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,099,345.40 Cram Down Losses 0.00 Net Liquidation Proceeds (344,320.80) --------------- Net Liquidation Losses 755,024.60 Cumulative Previous Net Losses 4,929,141.68 --------------- Cumulative Net Losses 5,684,166.28 Original Pool Balance 95,706,307.00 Cumulative Net Loss Ratio 5.94% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.00 Weighted Average Remaining Term 43.31 Weighted Average Annual Percentage Rate 20.22% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 66,175,821.09 minus the Securities Balance 61,601,881.05 --------------- 4,472,940.04 divided by the Aggregate Principal Balance 6.91% Floor OC Percent Aggregate Principal Balance 66,175,821.09 minus the Securities Balance 61,601,881.05 --------------- 4,473,940.04 divided by the initial Aggregate Principal Balance 95,706,307.00 --------------- 4.78% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 61,601,881.05 (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 2.1% if a Trigger Event, 15% minus the OC Percent 8.1% if a Portfolio Performance Event of Default, 30% minus the OC Percent 23.1% if an Insurance Agreement Event of Default, 30% 30% 30% times the Aggregate Principal Balance 66,175,821.09 --------------- 19,852,746.33 Requisite Amount 19,852,746.33 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 19,852,746.33 Beginning of Period Spread Account Balance 2,750,513.12 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 3,465.58 Required addition to/(eligible withdrawal from) Spread Account 17,098,767.63 Earnings on Spread Account Balance 12,586.17 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 2,766,564.87 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 2/16/99 Collection Period 1/99 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 $5,034,027.84 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $712,006.82 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $4,322,021.02 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $28.34 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $4.01 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $24.33 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $291,492.94 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $64,018.15 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $227,474.79 (j) Scheduled Payments due in such Collection Period $4,648,638.25 (k) Scheduled Payments collected in such Collection Period $4,246,795.68 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 $149,896,171.29 (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 $145,346,675.48 (c) The Pool factor as of the close of business on the last day set forth above 0.9696490 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 $286,393.72 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,122.84 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.61 (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 $43,545.31 (b) Distributions (to) from Collection Account ($14,157.42) for Payaheads (c) Interest earned on Payahead Balances $368.17 (d) Ending Payahead Account Balance $29,756.06 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 $43,604,002.64 Spread Account Balance $21,951,814.64 (b) The change in the spread account on the Distribution Date set forth above $239,758.46 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 $47,177.11 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,203,051.21 (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 549 Aggregate Gross Amount $6,649,000.00 (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 397 Aggregate Gross Amount $5,191,000.00 8 Performance Triggers. (a) Delinquency Ratio 7.35% (b) Average Delinquency Ratio 6.85% (c) Cumulative Default Ratio 5.44% (d) Cumulative Net Loss Ratio 3.62% (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: 5,835,631.06 LOCK BOX NSF ITEMS: (74,088.53) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 14,157.42 COLLECTION ACCOUNT INTEREST 21,329.06 PAYAHEAD ACCOUNT INTEREST 368.17 TOTAL COLLECTION PROCEEDS: 5,797,397.18 FOR DISTRIBUTION DATE: 2/16/99 FOR DETERMINATION DATE: 2/8/99 FOR COLLECTION PERIOD: 1/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 149,896,171.29 Principal portion of payments collected (non-prepayments) 1,880,445.00 Prepayments in full allocable to principal 978,170.00 Collections allocable to principal 2,858,615.00 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 487,829.60 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 3,346,444.60 Realized Losses 1,203,051.21 Cram Down Losses 0.00 Ending Principal Balance 145,346,675.48 INTEREST Collections allocable to interest 2,366,350.68 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 84,601.90 --------------- Total Interest 2,450,952.58 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 142,401,363.05 Beginning of Period Class B Principal Balance 7,494,808.24 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 21,712,056.18 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 36,566.77 Aggregate Payahead Balance 29,387.89 Aggregate Payahead Balance for preceding Distribution Date 43,545.31 Interest Earned on Payahead Balances 368.17 Scheduled Payments due in Collection Period 4,648,638.25 Scheduled Payments collected in Collection Period 4,246,795.68 Aggregate Amount of Realized Losses for preceding Distribution Date 1,203,051.21 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 1,294.94 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 549 6,649,000.00 60+ days delinquent 397 5,191,000.00 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 11,840,000.00 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 1,522,121.65 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 6.70% Delinquency Ratio for third preceding Determination Date 6.49% Cumulative Defaults for preceding Determination Date 8,639,468.91 Cumulative Net Losses for preceding Determination Date 5,656,565.65 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) 5,224,965.68 Liquidation Proceeds 487,829.60 Recoveries 84,601.90 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 5,797,397.18 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,880,445.00 Prepayments in full allocable to principal 978,170.00 Principal Balance of Liquidated Receivables 1,690,880.81 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 4,549,495.81 Class A Principal Distributable Amount Principal Distributable Amount 4,549,495.81 Times Class A Percentage (95%) 95% --------------- 4,322,021.02 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 4,322,021.02 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 142,401,363.05 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 712,006.82 Class B Principal Distributable Amount Principal Distributable Amount 4,549,495.81 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 227,474.79 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 7,494,808.24 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 64,018.15 Class B Excess Interest Amount Total Distribution Amount 5,797,397.18 minus Class A Principal and Interest Distributable Amount 5,034,027.84 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 64,018.15 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 227,474.79 Class B Principal Carryover Shortfall 0.00 Trustee distributions 2,544.07 Standby Servicer distributions 3,122.84 Servicer distributions 286,393.72 Collateral Agent distributions 1,249.13 Reimbursement Obligations 47,177.11 --------------- 131,389.53 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A Interest Carryover Shortfall from previous period 0.00 Interest on Class A Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(c) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 3,122.84 Servicing Fee (2.0%) 249,826.95 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 36,566.77 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Trustee Fee 1,249.13 Trustee's out-of-pocket expenses 1.294.94 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 1,249.13 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 Interest Distributable Amount - Current Month 712,006.82 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 712,006.82 (viii)(A)Class B Coupon Interest - Unadjusted 64,018.15 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 64,018.15 (v)(B) Class A Principal Distributable Amount - Current Month 4,322,021.02 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 4,322,021.02 (vi) Certificate Insurer Premium 47,177.11 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 227,474.79 Class B Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class B Principal Shortfall 0.00 Adjusted Class B Principal Distributable Amount 227,474.79 (C)Excess Interest (Shortage) Amount for Deposit to (withdrawal from) Spread Account 131,389.53 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 142,401,363.05 Class A Principal Distributions 4,322,021.02 Class A End of Period Principal Balance 138,079,342.03 Class B Beginning of Period Principal Balance 7,494,808.24 Class B Principal Distributable Amount 227,474.79 Class B End of Period Principal Balance BEFORE Spread Account Distributions 7,267,333.45 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 7,267,333.45 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 5,797,397.18 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 1,005,316.58 (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) 4,792,080.60 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 4,792,080.60 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 64,018.15 (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) 4,728,062.45 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 4,728,062.45 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 4,322,021.02 (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) 406,041.43 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 406,041.43 (vi) Certificate Insurer Premium 47,177.11 (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) 358,864.32 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 358,864.32 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 227,474.79 (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) 131,389.53 Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 131,389.53 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 11,840,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 11,840,000.00 Aggregate Gross Principal Balance as of the close of 161,067,251.09 business on the last day of the Collection Period. DELINQUENCY RATIO 7.35% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 7.35% Delinquency Ratio for second preceding Determination Date 6.70% Delinquency Ratio for third preceding Determination Date 6.49% --------------- Average Delinquency Ratio 6.85% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 8,639,468.91 Current Period Defaulted Receivables 1,522,121.65 --------------- Total 10,161,590.56 Cumulative Defaulted Receivables 10,161,590.56 Original Pool Balance 186,954,818.61 Cumulative Default Ratio 5.44% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,690,880.81 Cram Down Losses 0.00 Net Liquidation Proceeds (572,431.50) --------------- Net Liquidation Losses 1,118,449.31 Cumulative Previous Net Losses 5,656,565.65 --------------- Cumulative Net Losses 6,775,014.96 Original Pool Balance 186,954,818.61 Cumulative Net Loss Ratio 3.62% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.10 Weighted Average Remaining Term 46.05 Weighted Average Annual Percentage Rate 20.32% SPREAD ACCOUNT Spread Account Cap 13.5% of Outstanding Certificate Balance 19,621,801.19 18.5% of Outstanding Certificate Balance 26,889,134.96 Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) --------------- Cap Amount 43,604,002.64 Spread Account Floor 3% of the Initial Certificate Balance 5,608,644.56 Outstanding Certificate Balance 145,346,675.48 Minimum Floor 100,000.00 --------------- Floor Amount 5,608,644.56 Required Spread Account Amount 43,604,002.64 Beginning of Period Spread Account Balance 21,712,056.18 Spread Account Deposit (Withdrawal) from Current Distributions 131,389.53 Transfer (to) from Cross-Collateralized Spread Accounts 4,391.70 Allocations of cash releases from previous pools 0.00 Required addition to/(eligible withdrawal from) Spread Account 21,756,165.23 Earnings on Spread Account Balance 103,977.23 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 21,951,814.64 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 2/16/99 Collection Period 1/99 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 $5,673,015.35 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $877,136.94 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $4,795,878.41 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $28.30 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $4.37 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $23.92 (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) $422,744.57 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $79,283.66 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $343,460.91 (j) Scheduled Payments due in such Collection Period $5,446,641.77 (k) Scheduled Payments collected in such Collection Period $4,949,327.53 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 $176,896,725.38 (c) The Aggregate Pool factor as of the close of business on the last day set forth above 0.8382051 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 $346,014.14 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,970.24 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.73 (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 $40,541.26 (b) Distributions (to) from Collection Account ($12,364.06) for Payaheads (c) Interest earned on Payahead Balances $290.78 (d) Ending Payahead Account Balance $28,467.98 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 $53,069,017.61 Spread Account Balance $20,701,012.64 (b) The change in the spread account on the Distribution Date set forth above $99,682.48 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 $57,413.32 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,590,525.85 (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 598 Aggregate Gross Amount $7,599,000.00 (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 476 Aggregate Gross Amount $6,267,000.00 8 Performance Triggers. (a) Delinquency Ratio 7.14% (b) Average Delinquency Ratio 6.71% (c) Cumulative Default Ratio 3.77% (d) Cumulative Net Loss Ratio 2.51% (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 13,581.07 INPUTS GROSS COLLECTION PROCEEDS: 6,575,934.99 LOCK BOX NSF ITEMS: (106,150.36) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 12,364.06 COLLECTION ACCOUNT INTEREST 24,041.68 PAYAHEAD ACCOUNT INTEREST 290.78 TOTAL COLLECTION PROCEEDS: 6,506,481.15 FOR DISTRIBUTION DATE: 2/16/99 FOR DETERMINATION DATE: 2/8/99 FOR COLLECTION PERIOD: 1/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 181,931,437.93 Principal portion of payments collected (non-prepayments) 2,025,442.11 Prepayments in full allocable to principal 793,526.00 Collections allocable to principal 2,818,968.11 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 638,799.10 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 3,457,767.21 Realized Losses 1,590,525.85 Cram Down Losses 0.00 Ending Principal Balance 176,883,144.87 INTEREST Collections allocable to interest 2,923,885.42 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 124,828.52 --------------- Total Interest 3,048,713.94 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 172,834,866.00 Beginning of Period Class B Principal Balance 9,201,198.70 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 20,601,330.16 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 42,795.08 Aggregate Payahead Balance 28,177.20 Aggregate Payahead Balance for preceding Distribution Date 40,541.26 Interest Earned on Payahead Balances 290.78 Scheduled Payments due in Collection Period 5,446,641.77 Scheduled Payments collected in Collection Period 4,949,327.53 Aggregate Amount of Realized Losses for preceding Distribution Date 1,590,525.85 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 1,228.73 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 598 7,599,000.00 60+ days delinquent 476 6,267,000.00 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 13,866,000.00 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 1,612,514.56 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 6.52% Delinquency Ratio for third preceding Determination Date 6.48% Cumulative Defaults for preceding Determination Date 6,349,116.63 Cumulative Net Losses for preceding Determination Date 3,827,123.29 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) 5,742,853.53 Liquidation Proceeds 638,799.10 Recoveries 124,828.52 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 6,506,481.15 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 2,025,442.11 Prepayments in full allocable to principal 793,526.00 Principal Balance of Liquidated Receivables 2,229,324.95 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 5,048,293.06 Class A Principal Distributable Amount Principal Distributable Amount 5,048,293.06 Times Class A Percentage (95%) 95% --------------- 4,795,878.41 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 4,795,878.41 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 172,834,866.00 Multiplied by Certificate Pass-Through Rate 6.09% Multiplied by 30/360 0.0833333 --------------- Class A Interest Distributable Amount 877,136.94 Class B Principal Distributable Amount Principal Distributable Amount 5,048,293.06 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 252,414.65 Class B Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 9,201,198.70 Multiplied by Certificate Pass-Through Rate 10.34% Multiplied by 30/360 0.0833333 --------------- Class B Coupon Interest Amount 79,283.66 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 104,627.33 --------------- 104,627.33 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 3,790.24 Servicing Fee (2.0%) 303,219.06 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 42,795.08 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 1,137.07 Trustee's out-of-pocket expenses 1,228.73 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 1,137.73 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 877,136.94 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 877,136.94 (vi) Class B Coupon Interest - Unadjusted 79,283.66 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 79,283.66 (vii) Class A Principal Distributable Amount - Current Month 4,795,878.41 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount 4,795,878.41 (viii) Certificate Insurer Premium 57,413.32 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 252,414.65 Class B Principal Carryover Shortfall - Previous Month(s) 104,627.33 Current Month Class B Principal Carryover Shortfall (13,581.07) Adjusted Class B Principal Distributable Amount 343,460.91 (xi) Remaining amounts to Collateral Agent for deposit in Spread Account 0.00 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ---------------------------------------------------- (a) Requisite levels for spread accounts reflect insurance defaults on pools 1995-1, 1995-4, 1996-1, FASCO 1996-1, 1996-2, 1996-3, and 1997-1.
CERTIFICATE BALANCE Class A Beginning of Period Principal Balance 172,834,866.00 Class A Principal Distributions 4,795,878.41 Class A End of Period Principal Balance 168,038,987.59 Class B Beginning of Period Principal Balance 9,201,198.70 Class B Principal Distributable Amount 343,460.91 Class B End of Period Principal Balance BEFORE Spread Account Distributions 8,857,737.79 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 8,857,737.79 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 6,506,481.15 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 1,230,444.85 (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) 5,276,036.30 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 5,276,036.30 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 79,283.66 (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) 5,196,752.64 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 5,196,752.64 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 4,795,878.41 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 400,874.23 OTHER DEFICIENCIES - INSURANCE (i) Amounts available to make payments for insurance 400,874.23 Certificate Insurer Premium 57,413.32 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) 343,460.91 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 343,460.91 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 252,414.65 (iii)Prior month(s) carryover shortfalls 104,627.33 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (13,581.07) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (13,581.07) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 13,866,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 13,866,000.00 Aggregate Gross Principal Balance as of the close of 194,086,134.03 business on the last day of the Collection Period. Delinquency Ratio 7.14% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 7.14% Delinquency Ratio for second preceding Determination Date 6.52% Delinquency Ratio for third preceding Determination Date 6.48% --------------- Average Delinquency Ratio 6.71% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 6,349,116.63 Current Period Defaulted Receivables 1,612,514.56 --------------- Total 7,961,631.19 Cumulative Defaulted Receivables 7,961,631.19 Original Pool Balance 211,042,290.56 Cumulative Default Ratio 3.77% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 2,229,324.95 Cram Down Losses 0.00 Net Liquidation Proceeds (763,627.62) --------------- Net Liquidation Losses 1,465,697.33 Cumulative Previous Net Losses 3,827,123.29 --------------- Cumulative Net Losses 5,292,820.62 Original Pool Balance 211,042,290.56 Cumulative Net Loss Ratio 2.51% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.46 Weighted Average Remaining Term 48.52 Weighted Average Annual Percentage Rate 20.39% SPREAD ACCOUNT Spread Account Cap 13.5% of Outstanding Certificate Balance 23,881,057.93 19.5% of Outstanding Certificate Balance 34,494,861.45 Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) --------------- Cap Amount 53,069,017.61 Spread Account Floor 3% of the Initial Certificate Balance 6,331,268.70 Outstanding Certificate Balance 176,896,725.38 Minimum Floor 100,000.00 --------------- Floor Amount 6,331,268.70 Required Spread Account Amount 53,069,017.61 Beginning of Period Spread Account Balance 20,601,330.16 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 32,467,687.45 Earnings on Spread Account Balance 99,682.48 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 20,701,012.64 Reserve Fund Initial Class B Certificate Balance 10,552,114.40 Aggregate Pool Factor 0.8382051 Class B Principal % 5.01% 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 885,773.78 or Cap Amount 1,055,211.40 Reserve Fund Floor Outstanding Class B Certificate Balance 8,857,737.79 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 4,075.22 Amount of Reserve Fund deposit (withdrawal) (4,075.22) 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 2/16/99 Collection Period 1/99 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 $2,263,224.37 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $11,284.72 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,251,939.65 (d) The amount of the distribution set forth in paragraph A.1. (a) above $62.87 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $0.31 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $62.55 (g) The aggregate amount of the distribution to Class A-2 Noteholders on the Distribution Date set forth above $4,209,269.91 (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 $3,760,386.58 (j) The amount of the distribution set forth in paragraph A.1. (g) above, per $1,000 $45.75 (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 $216,928,105.13 (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 $195,771,613.42 (c) The Note Pool Factor as of the close of business on the last day set forth above 0.9024723 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 $408,271.36 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $4,519.34 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $11.34 (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 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-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 $211,574,310.11 Spread Account Balance $19,729,588.87 (b) The change in the spread account on the Distribution Date set forth above $95,091.09 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 $108,242.70 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,571,120.99 (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 614 Aggregate Gross Amount $8,170,000.00 (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 262 Aggregate Gross Amount $3,368,000.00 7 Performance Triggers (a) Delinquency Ratio 4.98% (b) Average Delinquency Ratio 4.67% (c) Cumulative Default Ratio 2.20% (d) Cumulative Net Loss Ratio 2.26% (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: 7,622,448.60 LOCK BOX NSF ITEMS: (109,410.92) TOTAL COLLECTION PROCEEDS: 7,513,037.68 FOR DISTRIBUTION DATE: 2/16/99 FOR DETERMINATION DATE: 2/8/99 FOR COLLECTION PERIOD: 1/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 216,928,105.13 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 216,928,105.13 Principal portion of payments collected (non-prepayments) 2,474,997.22 Prepayments in full allocable to principal 872,888.00 Collections allocable to principal 3,347,885.22 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 434,788.81 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 3,782,674.03 Realized Losses 1,571,120.99 Cram Down Losses 0.00 Ending Principal Balance 211,574,310.11 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 3,621,987.72 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 108,375.93 --------------- Total Interest 3,730,363.65 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 2,251,939.65 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 19,634,497.78 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 46,724.52 Scheduled Payments due in Collection Period 6,345,901.41 Scheduled Payments collected in Collection Period 6,096,984.94 Aggregate Amount of Realized Losses for preceding Distribution Date 1,571,120.99 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 1,171.04 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 614 8,170,000.00 60 - 89 days delinquent 262 3,368,000.00 90 - 119 days delinquent 118 1,597,000.00 120+ days delinquent 1 11,000.00 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 11,538,000.00 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 1,753,779.70 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 4.30% Delinquency Ratio for third preceding Determination Date 4.74% Cumulative Defaults for preceding Determination Date 3,523,503.62 Cumulative Net Losses for preceding Determination Date 3,941,978.82 Does a Trigger Event Exist? N Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 6,969,872.94 Liquidation Proceeds 434,788.81 Recoveries 108,375.93 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 6,157.28 Investment earnings from Prefunding Account 0.00 Investment earnings from Interest Reserve Account N/A Investment earnings from Collection Account 21,178.67 --------------- TOTAL DISTRIBUTION AMOUNT 7,540,373.63 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 2,474,997.22 Prepayments in full allocable to principal 872,888.00 Principal Balance of Liquidated Receivables 2,005,909.80 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 5,353,795.02 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 211,574,310.11 --------------- 190,416,879.10 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 93.0% On Payment Date when Class A-2 Notes will be reduced to 0 45.6% --------------- 98.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 5,353,795.02 Times Class A Noteholders' Percentage 93.0% --------------- 4,979,029.37 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 4,979,029.37 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 2,251,939.65 Multiplied by the Note Rate 5.6375% Multiplied by actual/360, or for the first Distribution Date, by 18/360 0.0888889 --------------- Class A Interest Distributable Amount 11,284.72 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 7,540,373.63 minus Class A Principal and Interest Distributable Amount 5,982,255.38 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Trustee and Collateral Agent distributions 3,787.99 Standby Servicer distributions 4,519.34 Servicer distributions 408,271.36 Insurance and Reimbursement Obligations 108,242.70 --------------- 1,033,296.86 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 4,519.34 Servicing Fee (2.0%) 361,546.84 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 46,724.52 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 1,355.80 Indenture Trustee's out-of-pocket expenses 1,171.04 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 1,261.15 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 11,284.72 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 11,284.72 (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 4,979,029.37 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Total Adjusted Distributable Amount 4,979,029.37 Class A Principal Distribution Amount to Class A-1 2,251,939.65 Class A Principal Distribution Amount to Class A-2 2,727,089.72 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 108,242.70 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 1,033,296.86 Amount to Class A-1 Noteholders 0.00 Amount to Class A-2 Noteholders 1,033,296.86 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 2,251,939.65 Class A-1 Principal Distributions 2,251,939.65 Class A-1 End of Period Principal Amount (prior to turbo) 0.00 Additional Principal Distribution 0.00 Class A-1 End of Period Principal Amount 0.00 Class A-2 Beginning of Period Principal Amount 92,000,000.00 Class A-2 Principal Distributions 2,727,089.72 Class A-2 End of Period Principal Amount (prior to turbo) 89,272,910.28 Additional Principal Distribution 1,033,296.86 Class A-2 End of Period Principal Amount 88,239,613.42 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 7,540,373.63 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (i) and (v)A 427,863.41 (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) 7,112,510.22 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (v) B 7,112,510.22 (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) 6,663,626.89 CLASS A-3 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (vi) A 6,663,626.89 (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) 6,538,731.06 CLASS A-4 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (vi) and (x) 6,538,731.06 (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) 6,120,568.93 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a) (vii) 6,120,568.93 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (vii) 4,979,029.37 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 1,141,539.56 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.8(a) (viii) 1,141,539.56 (vi) Note Insurer Premium 108,242.70 (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) 1,033,296.86 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 11,538,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 11,538,000.00 Aggregate Gross Principal Balance as of the close of 231,464,624.92 business on the last day of the Collection Period. DELINQUENCY RATIO 4.98% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 4.98% Delinquency Ratio for second preceding Determination Date 4.30% Delinquency Ratio for third preceding Determination Date 4.74% ---------------- Average Delinquency Ratio 4.67% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 3,523,503.62 Current Period Defaulted Receivables 1,753,779.70 --------------- Total 5,277,283.32 Cumulative Defaulted Receivables 5,277,283.32 Original Pool Balance 240,339,160.19 Cumulative Default Ratio 2.20% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of 120+ Delinquent Losses: Principal Balance of Delinquent Accts > 120 days 11,000.00 Principal Balance of Delinquent Accts > 90 < 120 days 1,597,000.00 Estimated Loss % 50% --------------- Estimated Loss $'s 809,500.00 Calculation of Net Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 2,005,909.80 Cram Down Losses 0.00 Net Liquidation Proceeds (543,164.74) --------------- Net Losses 2,272,245.06 Cumulative Previous Net Losses 3,941,978.82 Less: Previous Month's Delinquency Loss Estimate (772,500.00) --------------- Cumulative Net Losses 5,441,723.88 Original Pool Balance 240,339,160.19 Cumulative Net Loss Ratio 2.26% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.60 Weighted Average Remaining Term 50.57 Weighted Average Annual Percentage Rate 20.44% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 211,574,310.11 minus the Securities Balance 195,771,613.42 --------------- 15,802,696.69 divided by the Aggregate Principal Balance 7.47% Floor OC Percent Aggregate Principal Balance 211,574,310.11 minus the Securities Balance 195,771,613.42 --------------- 15,802,696.69 divided by the initial Aggregate Principal Balance 240,339,160.19 --------------- 6.58% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 195,771,613.42 (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% 19.50% if a Portfolio Performance Event of Default, 30% 35.00% if an Insurance Agreement Event of Default, unlimited 100.00% 100.00% times the Aggregate Principal Balance 211,574,310.11 --------------- 211,574,310.11 Requisite Amount 211,574,310.11 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 211,574,310.11 Beginning of Period Spread Account Balance 19,634,497.78 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 191,939,812.33 Earnings on Spread Account Balance 95,091.09 Amount of Spread Account deposit (withdrawal) 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 19,729,588.87 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 2/16/99 Collection Period 1/99 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 $2,960,015.67 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $129,914.66 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,830,101.01 (d) The amount of total the distribution set forth in paragraph A.1. (a) above, per $1,000 $91.08 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $4.00 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $87.08 (g) The aggregate amount of the distribution to Class A-2 Noteholders on the Distribution Date set forth above $373,937.50 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $373,937.50 (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 $4.83 (k) The amount of the distribution set forth in paragraph A.1. (h) above, per $1,000 $4.83 (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 $389,243.75 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $389,243.75 (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 $4.78 (q) The amount of the distribution set forth in paragraph A.1. (n) above, per $1,000 $4.78 (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 $1,937,331.01 (t) The amount of the distribution set forth in paragraph A.1. (s) above in respect of interest $459,820.13 (u) The amount of the distribution set forth in in paragraph A.1. (s) above in respect of principal $1,477,510.88 (v) The amount of the distribution set forth in paragraph A.1. (s) above, per $1,000 $19.37 (w) The amount of the distribution set forth in paragraph A.1. (t) above, per $1,000 $4.60 (x) The amount of the distribution set forth in paragraph A.1. (u) above, per $1,000 $14.78 (y) The aggregate amount of the distribution to Class A-5 Noteholders on the Distribution Date set forth above $91,417.71 (z) The amount of the distribution set forth in paragraph A.1. (y) above in respect of interest $91,417.71 (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 $4.91 (cc) The amount of the distribution set forth in paragraph A.1. (z) above, per $1,000 4.91 (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 $301,178,917.51 (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 $296,871,305.62 (c) The Note Pool Factor as of the close of business on the last day set forth above 0.9856975 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 $555,429.53 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $6,274.56 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $17.09 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 $0.01 (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 3 Aggregate Purchase Amount $38,224.19 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 $92,030,104.74 Spread Account Balance $15,542,967.07 (b) The change in the spread account on the Distribution Date set forth above $2,269,808.37 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 $352,986.42 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $242,887.84 (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 612 Aggregate Gross Amount $8,071,000.00 (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 228 Aggregate Gross Amount $3,047,000.00 7 Performance Triggers. (a) Delinquency Ratio 3.48% (b) Average Delinquency Ratio 2.64% (c) Cumulative Default Ratio 0.44% (d) Cumulative Net Loss Ratio 0.24% (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: 9,019,341.44 LOCK BOX NSF ITEMS: (152,989.46) TOTAL COLLECTION PROCEEDS: 8,866,351.98 FOR DISTRIBUTION DATE: 2/16/99 FOR DETERMINATION DATE: 2/8/99 FOR COLLECTION PERIOD: 1/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 301,178,917.51 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 301,178,917.51 Principal portion of payments collected (non-prepayments) 3,070,300.05 Prepayments in full allocable to principal 895,902.00 Collections allocable to principal 3,966,202.05 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 60,297.81 Purchase Amounts allocable to principal 38,224.19 --------------- Total Principal 4,064,724.05 Realized Losses 242,887.84 Cram Down Losses 0.00 Ending Principal Balance 296,871,305.62 PREFUNDING Original Amount in Prefunding Account 34,352,728.96 Subsequent Loans Sold to the Trust 34,352,728.96 --------------- Balance of Prefunding Account 0.00 INTEREST Collections allocable to interest 4,800,364.24 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 1,263.69 --------------- Total Interest 4,801,627.93 NOTE INFORMATION Beginning of Period Class A-1 Principal Balance 26,704,548.80 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 96,974,368.71 Beginning of Period Class A-5 Principal Balance 18,625,000.00 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 13,273,158.70 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 53,464.67 Scheduled Payments due in Collection Period 8,590,466.98 Scheduled Payments collected in Collection Period 7,870,664.29 Aggregate Amount of Realized Losses for preceding Distribution Date 242,887.84 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 6,264.80 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 612 8,071,000.00 60 - 89 days delinquent 228 3,047,000.00 90 - 119 days delinquent 87 1,146,000.00 120+ days delinquent 0 0.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 3 38,224.19 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. 11,118,000.00 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. 38,224.19 Principal Balance of all Receivables that became Defaulted Receivables during the related Collection Period. 1,301,407.93 Delinquency Ratio for second preceding Determination Date 2.64% Delinquency Ratio for third preceding Determination Date 1.79% Cumulative Defaults for preceding Determination Date 207,910.08 Cumulative Net Losses for preceding Determination Date 180,796.01 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 0.00 Times the number of days outstanding in prefunding period (12/4 - 2/15) 73.00 --------------- 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) 8,766,566.29 Liquidation Proceeds 60,297.81 Recoveries 1,263.69 Purchase Amounts 38,224.19 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 160.84 Investment earnings from Interest Reserve Account 1.05 Investment earnings from Collection Account 35,380.05 --------------- TOTAL DISTRIBUTION AMOUNT 8,901,893.92 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 3,070,300.05 Prepayments in full allocable to principal 895,902.00 Principal Balance of Liquidated Receivables 303,185.65 Purchase Amounts allocable to principal 38,224.19 Cram Down Losses 0.00 --------------- Principal Distributable Amount 4,307,611.89 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 4,307,611.89 Sequential Pay Noteholders Percentage 65.7% --------------- Sequential Pay Noteholders' Principal Distributable Amount 2,830,101.01 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 4,307,611.89 Class A-4 Noteholders Percentage 34.3% --------------- Class A-4 Noteholders' Principal Distributable Amount 1,477,510.88 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 26,704,548.80 Multiplied by the Note Rate 5.4730% Multiplied by actual/360, or for the first Distribution Date, by 11/360 0.0888889 --------------- Class A Interest Distributable Amount 129,914.66 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 0.0833333 --------------- Class A Interest Distributable Amount 373,937.50 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 0.0833333 --------------- Class A Interest Distributable Amount 389,243.75 Class A-4 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 96,974,368.71 Multiplied by the Note Rate 5.6900% Multiplied by actual/360, or for the first Distribution Date, by 11/360 0.0833333 --------------- Class A Interest Distributable Amount 459,820.13 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 0.0833333 --------------- Class A Interest Distributable Amount 91,417.71 Excess Interest Amount Total Distribution Amount 8,901,893.92 minus Class A Principal and Interest Distributable Amount 5,571,945.64 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Trustee and Collateral Agent distributions 10,029.54 Standby Servicer distributions 6,274.56 Servicer distributions 555,429.53 Insurance and Reimbursement Obligations 352,986.42 --------------- 2,225,228.23 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 6,274.56 Backup Servicer Fee 6,500.00 Servicing Fee (2.0%) 501,964.86 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 53,464.67 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Indenture Trustee Fee 1,882.37 Indenture Trustee's out-of-pocket expenses 6,264.80 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 1,882.37 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 129,914.66 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 129,914.66 (B) Class A-2 Interest Distributable Amount - Current Month 373,937.50 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 373,937.50 (C) Class A-3 Interest Distributable Amount - Current Month 389,243.75 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 389,243.75 (D) Class A-4 Interest Distributable Amount - Current Month 459,820.13 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 459,820.13 (E) Class A-5 Interest Distributable Amount - Current Month 91,417.71 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 91,417.71 (vi) Sequential Pay Noteholders' Principal Distributable Amount 2,830,101.01 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 2,830,101.01 Class A Principal Distribution Amount to Class A-1 2,830,101.01 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 1,477,510.88 Class A Principal Distribution Amount to Class A-5 0.00 (viii) Note Insurer Premium 123,696.38 Short-Term Reinsurance 48,456.71 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) 2,218,728.23
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 26,704,548.80 Class A-1 Principal Distributions 2,830,101.01 Class A-1 End of Period Principal Amount 23,874,447.79 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 96,974,368.71 Class A-4 Principal Distributable Amount 1,477,510.88 Class A-4 End of Period Principal Amount 95,496,857.83 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 296,871,305.62 CLASS A-1 DEFICIENCY - INTEREST (i) Total Distribution Amount Available 8,901,893.92 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(i) thru (v)A 708,148.29 (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) 8,193,745.63 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)B 8,193,745.63 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)B 373,937.50 (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) 7,819,808.13 CLASS A-3 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)C 7,819,808.13 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)C 389,243.75 (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) 7,430,564.38 CLASS A-4 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)D 7,430,564.38 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)D 459,820.13 (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) 6,970,744.25 CLASS A-5 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)E 6,970,744.25 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)E 91,417.71 (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) 6,879,326.54 SEQUENTIAL PAY NOTES DEFICIENCY - PRINCIPAL (A-1, A-2 & A-3) (i) Amounts available to make payments pursuant to Section 5.7(a)(vi) 6,879,326.54 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(vi) 2,830,101.01 (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) 4,049,225.53 CLASS A-4 DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.7(a)(vii) 4,049,225.53 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(vii) 1,477,510.88 (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) 2,571,714.65 CLASS A-5 DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.7(a)(vii) 2,571,714.65 (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) 2,571,714.65 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.7(a)(viii) 2,571,714.65 (vi) Note Insurer Premium 352,986.42 (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) 2,218,728.23 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 11,118,000.00 Purchased receivables more than 30 days delinquent 38,224.19 --------------- Total 11,156,224.19 Aggregate Gross Principal Balance as of the close of business on the last day of the Collection Period. 320,926,523.03 DELINQUENCY RATIO 3.48% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 3.48% Delinquency Ratio for second preceding Determination Date 2.64% Delinquency Ratio for third preceding Determination Date 1.79% --------------- Average Delinquency Ratio 2.64% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 207,910.08 Current Period Defaulted Receivables 1,301,407.93 --------------- Total 1,509,318.01 Cumulative Defaulted Receivables 1,509,318.01 Original Pool Balance 310,000,000.00 Add: Subsequent Receivables 34,352,728.96 --------------- Total Original Balance 344,352,728.96 Cumulative Default Ratio 0.44% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of 120+ Delinquent Losses: Principal Balance of Delinquent Accts > 120 days 0.00 Principal Balance of Delinquent Accts >90 <120 days 1,146,000.00 Estimated Loss % 50% ---------------- Estimated Loss $'s 573,000.00 Calculation of Net Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 303,185.65 Cram Down Losses 0.00 Net Liquidation Proceeds (61,561.50) --------------- Net Losses 814,624.15 Cumulative Previous Net Losses 180,796.01 Less: Previous Month's Delinquency Loss Estimate (165,000.00) --------------- Cumulative Net Losses 830,420.16 Original Pool Balance 344,352,728.96 Cumulative Net Loss Ratio 0.24% 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 53.18 Weighted Average Annual Percentage Rate 20.25% SPREAD ACCOUNT Spread Account Cap Current Spread Account % 4.5% 21.0% of Outstanding Notes Balance if no Trigger Event 63,342,974.18 26.0% of Outstanding Notes Balance if a Trigger Event Exists 77,186,539.46 31.0% of Outstanding Notes Balance if an Insurance Event of Default 92,030,104.74 Is a Trigger Event continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) Requisite Amount 92,030,104.74 Spread Account Floor 2.5% of the Initial Certificate Balance 7,750,000.00 Outstanding Certificate Balance 296,871,305.62 Minimum Floor 100,000.00 --------------- Floor Amount 7,750,000.00 Required Spread Account Amount 92,030,104.74 Beginning of Period Spread Account Balance 13,273,158.70 Additional Deposit for Subsequent Receivables Transfer 0.00 Spread Account Deposit (Withdrawal) from Current Distributions 2,218,728.23 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 76,538,217.81 Earnings on Spread Account Balance 51,080.14 Amount of Spread Account deposit (withdrawal) 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 15,542,967.07