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) March 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 20.33 Monthly Servicing Report for the February 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: March 23, 1999 By: /s/ Jeffrey P. Fritz Name: Jeffrey P. Fritz Title: Chief Financial Officer INDEX TO EXHIBITS Exhibit Sequential No. Document Description Page No. 20.33 Monthly Servicing Report for the February 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 3/15/99 Collection Period 2/99 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 $1,505,001.82 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $131,322.12 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,373,679.70 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $17.82 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $1.55 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $16.27 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $82,692.45 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $10,393.52 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $72,298.93 (j) Scheduled Payments due in such Collection Period $1,277,575.18 (k) Scheduled Payments collected in such Collection Period $1,268,236.01 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 $24,944,446.07 (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 $23,498,467.41 (c) The Pool factor as of the close of business on the last day set forth above 0.9420320 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 $55,720.79 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $1,662.96 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.66 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $0.02 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (c) above $0.00 4 Payahead Account. (a) The aggregate Payahead Balance on the prior Distribution Date $17,452.78 (b) Distributions (to) from Collection Account ($3,293.42) for Payaheads (c) Interest earned on Payahead Balances $71.88 (d) Ending Payahead Account Balance $14,231.24 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 $22,323,544.06 Spread Account Balance $5,741,772.19 (b) The change in the spread account on the Distribution Date set forth above $65,372.46 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 $6,511.03 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $295,005.68 (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 125 Aggregate Gross Amount $913,000.00 (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 106 Aggregate Gross Amount $874,000.00 8 Performance Triggers. (a) Delinquency Ratio 6.94% (b) Average Delinquency Ratio 7.37% (c) Cumulative Default Ratio 18.86% (d) Cumulative Net Loss Ratio 14.10% (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: 1,689,075.03 LOCK BOX NSF ITEMS: (16,831.77) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 3,293.42 COLLECTION ACCOUNT INTEREST 5,489.88 PAYAHEAD ACCOUNT INTEREST 71.88 TOTAL COLLECTION PROCEEDS: 1,681,098.44 FOR DISTRIBUTION DATE: 3/15/99 FOR DETERMINATION DATE: 3/8/99 FOR COLLECTION PERIOD: 2/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 24,944,446.07 Principal portion of payments collected (non-prepayments) 786,637.09 Prepayments in full allocable to principal 281,523.00 Collections allocable to principal 1,068,160.09 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 82,812.86 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,150,972.95 Realized Losses 295,005.68 Cram Down Losses 0.00 Ending Principal Balance 23,498,467.44 INTEREST Collections allocable to interest 481,598.92 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 48,526.57 --------------- Total Interest 530,125.49 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 23,697,223.76 Beginning of Period Class B Principal Balance 1,247,222.28 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 5,676,399.73 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 14,146.71 Aggregate Payahead Balance 14,159.36 Aggregate Payahead Balance for preceding Distribution Date 17,452.78 Interest Earned on Payahead Balances 71.88 Scheduled Payments due in Collection Period 1,277,575.18 Scheduled Payments collected in Collection Period 1,268,236.01 Aggregate Amount of Realized Losses for preceding Distribution Date 295,005.68 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 337.11 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 125 913,000.00 60+ days delinquent 106 874,000.00 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 1,787,000.00 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 228,177.03 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 7.90% Delinquency Ratio for third preceding Determination Date 7.26% Cumulative Defaults for preceding Determination Date 16,542,907.39 Cumulative Net Losses for preceding Determination Date 12,286,464.26 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) 1,549,759.01 Liquidation Proceeds 82,812.86 Recoveries 48,526.57 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 1,681,098.44 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 786,637.09 Prepayments in full allocable to principal 281,523.00 Principal Balance of Liquidated Receivables 377,818.54 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 1,445,978.63 Class A Principal Distributable Amount Principal Distributable Amount 1,445,978.63 Times Class A Percentage (95%) 95% --------------- 1,373,679.70 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,373,679.70 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 23,697,223.76 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 131,322.12 Class B Principal Distributable Amount Principal Distributable Amount 1,455,978.63 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 72,298.93 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 1,247,222.28 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 10,393.52 Class B Excess Interest Amount Total Distribution Amount 1,681,098.44 minus Class A Principal and Interest Distributable Amount 1,505,001.82 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 10,393.52 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 72,298.93 Class B Principal Carryover Shortfall 0.00 Trustee distributions 648.92 Standby Servicer distributions 1,662.96 Servicer distributions 55,720.79 Collateral Agent distributions 311.81 Reimbursement Obligations 6,511.03 --------------- 28,548.66 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 1,662.96 Servicing Fee (2.0%) 41,574.08 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 14,146.71 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 311.81 Trustee's out-of-pocket expenses 337.11 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 311.81 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 131,322.12 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 131,322.12 (viii)(A) Class B Coupon Interest - Unadjusted 10,393.52 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 10,393.52 (v)(B) Class A Principal Distributable Amount - Current Month 1,373,679.70 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 1,373,679.70 (vi) Certificate Insurer Premium 6,511.03 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 72,298.93 Class B Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class B Principal Shortfall 0.00 Adjusted Class B Principal Distributable Amount 72,298.93 (C) Excess Interest Amount for Deposit in Spread Account 28,548.66 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 23,697,223.76 Class A Principal Distributions 1,373,679.70 Class A End of Period Principal Balance 22,323,544.06 Class B Beginning of Period Principal Balance 1,247,222.28 Class B Principal Distributable Amount 72,298.93 Class B End of Period Principal Balance BEFORE Spread Account Distributions 1,174,923.35 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 1,174,923.35 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 1,681,098.44 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 189,666.60 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 1,491,431.84 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 1,491,431.84 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 10,393.52 (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) 1,481,038.32 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 1,481,038.32 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,373,679.70 (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) 107,358.62 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 107,358.62 (vi) Certificate Insurer Premium 6,511.03 (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) 100,847.59 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 100,847.59 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 72,298.93 (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) 28,548.66 Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 28,548.66 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 1,787,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 1,787,000.00 Aggregate Gross Principal Balance as of the close of 25,753,079.60 business on the last day of the Collection Period. DELINQUENCY RATIO 6.94% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 6.94% Delinquency Ratio for second preceding Determination Date 7.90% Delinquency Ratio for third preceding Determination Date 7.26% --------------- Average Delinquency Ratio 7.37% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 16,542,907.39 Current Period Defaulted Receivables 228,177.03 --------------- Total 16,771,084.42 Cumulative Defaulted Receivables 16,771,084.42 Original Pool Balance 88,900,750.37 Cumulative Default Ratio 18.86% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 377,818.54 Cram Down Losses 0.00 Net Liquidation Proceeds (131,339.43) --------------- Net Liquidation Losses 246,479.11 Cumulative Previous Net Losses 12,286,464.26 --------------- Cumulative Net Losses 12,532,943.37 Original Pool Balance 88,900,750.37 Cumulative Net Loss Ratio 14.10% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 54.67 Weighted Average Remaining Term 24.46 Weighted Average Annual Percentage Rate 20.28% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 2,349,846.74 15% of Outstanding Certificate Balance 3,524,770.11 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y-WAIVED --------------- Cap Amount 22,323,544.06 Spread Account Floor 3% of the Initial Certificate Balance 2,667,022.52 Outstanding Certificate Balance 23,498,467.41 Minimum Floor 100,000.00 --------------- Floor Amount 2,667,022.51 Required Spread Account Amount 22,323,544.06 Beginning of Period Spread Account Balance 5,676,399.73 Spread Account Deposit (Withdrawal) from Current Distributions 28,548.66 Transfer (to) from Cross-Collateralized Spread Accounts 12,962.79 Required addition to/(eligible withdrawal from) Spread Account 16,605,632.89 Earnings on Spread Account Balance 23,861.01 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 5,741,772.19 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1996-2 6.70% ASSET-BACKED CERTIFICATES Distribution Date 3/15/99 Collection Period 2/99 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 $1,935,074.57 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $169,025.20 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,766,049.37 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $22.11 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $1.93 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $20.18 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $17,974.40 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $17,974.40 (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 $1,426,584.44 (k) Scheduled Payments collected in such Collection Period $1,346,121.54 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 $31,866,495.12 (b) The aggregate balance of the Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c) above $30,415,906.51 (c) The Pool factor as of the close of business on the last day set forth above 0.9544792 2 Servicing Fee and Purchased Receivables. (a) The aggregate amount of the Servicing Fee (exclusive of the Standby Fee paid to the Standby Servicer) paid to the Servicer with respect to the Collection Period set forth above $73,866.72 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,124.43 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.84 (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 $19,023.75 (b) Distributions (to) from Collection Account $920.09 for Payaheads (c) Interest earned on Payahead Balances $82.56 (d) Ending Payahead Account Balance $20,026.40 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 $28,507,120.96 Spread Account Balance $4,740,039.00 (b) The change in the spread account on the Distribution Date set forth above ($49,194.65) 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 $8,314.58 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $457,527.59 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 142 Aggregate Gross Amount $1,346,000.00 (d) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent 60 days or more Number 105 Aggregate Gross Amount $1,037,000.00 8 Performance Triggers. (a) Delinquency Ratio 7.13% (b) Average Delinquency Ratio 7.26% (c) Cumulative Default Ratio 18.30% (d) Cumulative Net Loss Ratio 13.70% (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: 1,974,699.39 LOCK BOX NSF ITEMS: (19,737.74) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: (920.09) COLLECTION ACCOUNT INTEREST 6,256.13 PAYAHEAD ACCOUNT INTEREST 82.56 TOTAL COLLECTION PROCEEDS: 1,950,380.25 FOR DISTRIBUTION DATE: 3/15/99 FOR DETERMINATION DATE: 3/8/99 FOR COLLECTION PERIOD: 2/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 31,866,495.12 Principal portion of payments collected (non-prepayments) 875,042.66 Prepayments in full allocable to principal 387,504.00 Collections allocable to principal 1,262,546.66 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 138,925.09 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,401,471.75 Realized Losses 457,527.59 Cram Down Losses 0.00 Ending Principal Balance 30,007,495.78 INTEREST Collections allocable to interest 471,078.88 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 77,829.62 --------------- Total Interest 548,908.50 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 30,273,170.33 Beginning of Period Class B Principal Balance 1,908,785.55 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 4,789,233.65 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 20,755.89 Aggregate Payahead Balance 19,943.84 Aggregate Payahead Balance for preceding Distribution Date 19,023.75 Interest Earned on Payahead Balances 82.56 Scheduled Payments due in Collection Period 1,426,584.44 Scheduled Payments collected in Collection Period 1,346,121.54 Aggregate Amount of Realized Losses for preceding Distribution Date 457,527.59 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 284.40 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 142 1,346,000.00 60+ days delinquent 105 1,037,000.00 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 2,383,000.00 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 275,198.65 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 7.84% Delinquency Ratio for third preceding Determination Date 6.81% Cumulative Defaults for preceding Determination Date 16,582,799.49 Cumulative Net Losses for preceding Determination Date 12,242,180.87 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) 1,733,625.54 Liquidation Proceeds 138,925.09 Recoveries 77,829.62 Purchase Amounts 0.00 Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 0.00 Investment earnings from Payahead Account 0.00 --------------- TOTAL DISTRIBUTION AMOUNT 1,950,380.25 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 875,042.66 Prepayments in full allocable to principal 387,504.00 Principal Balance of Liquidated Receivables 596,452.68 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 1,858,999.34 Class A Principal Distributable Amount Principal Distributable Amount 1,858,999.34 Times Class A Percentage (95%) 95% --------------- 1,766,049.37 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,766,049.37 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 30,273,170.33 Multiplied by Certificate Pass-Through Rate 6.70% Multiplied by 30/360, or for the first Distribution Date, by 27/360 0.0833333 --------------- Class A Interest Distributable Amount 169,025.20 Class B Principal Distributable Amount Principal Distributable Amount 1,858,999.34 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 92,949.97 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 1,908,785.55 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 17,974.40 Class B Excess Interest Amount Total Distribution Amount 1,950,380.25 minus Class A Principal and Interest Distributable Amount 1,935,074.57 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 17,974.40 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 92,949.97 Class B Principal Carryover Shortfall 315,460.78 Trustee distributions 682.73 Standby Servicer distributions 2,124.43 Servicer distributions 73,866.72 Collateral Agent distributions 402.27 Reimbursement Obligations 8,314.58 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 315,460.78 --------------- 315,460.78 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 2,124.43 Servicing Fee (2.0%) 53,110.83 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 20,755.89 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) Trustee Fee 398.33 Trustee's out-of-pocket expenses 284.40 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 402.27 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 169,025.20 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 169,025.20 (viii)(A) Class B Coupon Interest - Unadjusted 17,974.40 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 17,974.40 (v)(B) Class A Principal Distributable Amount - Current Month 1,766,049.37 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall (79,744.87) Withdrawal from Spread Account to Cover Shortfall 79,744.87 Class A Principal Distribution Amount 1,766,049.37 (vi) Certificate Insurer Premium 8,314.58 Certificate Insurer Premium Supplement 0.00 Other Reimbursement Obligations to Certificate Insurer 0.00 (vii) Transition Expenses to successor Servicer 0.00 (B) Class B Principal Distributable Amount - Current Month Unadjusted 92,949.97 Class B Principal Carryover Shortfall - Previous Month(s) 315,460.78 Current Month Class B Principal Shortfall (408,410.75) Adjusted Class B Principal Distributable Amount 0.00 (C) Excess Interest Amount for Deposit in Spread Account (88,059.45) 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 30,273,170.33 Class A Principal Distributions 1,766,049.37 Class A End of Period Principal Balance 28,507,120.96 Class B Beginning of Period Principal Balance 1,908,785.55 Class B Principal Distributable Amount 0.00 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 1,950,380.25 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 246,101.35 (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) 1,704,278.90 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 1,704,278.90 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 17,974.40 (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) 1,686,304.50 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 1,686,304.50 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,766,049.37 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 79,744.87 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 0.00 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 0.00 (vi) Certificate Insurer Premium 8,314.58 (v) Certificate Insurer Premium Supplement 0.00 Deficiency Amount (8,314.58) Withdrawal from Spread Account to Cover Deficiency 8,314.58 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) 92,949.97 (iii)Prior month(s) carryover shortfalls 315,460.78 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (408,410.75) Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (408,410.75) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 2,383,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 2,383,000.00 Aggregate Gross Principal Balance as of the close of 33,426,734.68 business on the last day of the Collection Period. DELINQUENCY RATIO 7.13% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 7.13% Delinquency Ratio for second preceding Determination Date 7.84% Delinquency Ratio for third preceding Determination Date 6.81% --------------- Average Delinquency Ratio 7.26% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 16,582,799.49 Current Period Defaulted Receivables 275,198.65 --------------- Total 16,857,998.14 Cumulative Defaulted Receivables 16,857,998.14 Original Pool Balance 92,129,299.54 Cumulative Default Ratio 18.30% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 596,452.68 Cram Down Losses 0.00 Net Liquidation Proceeds (216,754.71) --------------- Net Liquidation Losses 379,697.97 Cumulative Previous Net Losses 12,242,180.87 --------------- Cumulative Net Losses 12,621,878.84 Original Pool Balance 92,129,299.54 Cumulative Net Loss Ratio 13.70% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 55.54 Weighted Average Remaining Term 28.02 Weighted Average Annual Percentage Rate 20.42% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 3,041,590.65 15% of Outstanding Certificate Balance 4,562,385.98 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y-WAIVED --------------- Cap Amount 28,507,120.96 Spread Account Floor 3% of the Initial Certificate Balance 2,763,878.99 Outstanding Certificate Balance 30,415,906.51 Minimum Floor 100,000.00 --------------- Floor Amount 2,763,878.99 Required Spread Account Amount 28,507,120.96 Beginning of Period Spread Account Balance 4,789,233.65 Spread Account Deposit (Withdrawal) from Current Distributions (88,059.45) Transfer (to) from Cross-Collateralized Spread Accounts 18,579.90 Required addition to/(eligible withdrawal from) Spread Account 23,787,366.86 Earnings on Spread Account Balance 20,284.90 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 4,740,039.00 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1996-3 6.30% ASSET-BACKED CERTIFICATES Distribution Date 3/15/99 Collection Period 2/99 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 $2,102,214.85 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $191,511.13 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,910,703.72 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $23.83 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $2.17 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $21.66 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $20,506.82 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $20,506.82 (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 $1,573,408.99 (k) Scheduled Payments collected in such Collection Period $1,466,565.66 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 $38,398,221.42 (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 $36,992,057.82 (c) The Pool factor as of the close of business on the last day set forth above 0.9633795 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 $83,684.75 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,559.88 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.95 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $0.03 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (c) above $0.00 4 Payahead Account. (a) The aggregate Payahead Balance on the prior Distribution Date $17,265.94 (b) Distributions (to) from Collection Account ($564.40) for Payaheads (c) Interest earned on Payahead Balances $75.56 (d) Ending Payahead Account Balance $16,777.10 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 $10,370,281.98 Spread Account Balance $5,951,683.22 (b) The change in the spread account on the Distribution Date set forth above ($98,882.53) 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 $10,082.22 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $566,418.34 (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 144 Aggregate Gross Amount $1,452,000.00 (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 131 Aggregate Gross Amount $1,381,000.00 8 Performance Triggers. (a) Delinquency Ratio 6.92% (b) Average Delinquency Ratio 7.42% (c) Cumulative Default Ratio 16.72% (d) Cumulative Net Loss Ratio 13.38% (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: 2,110,491.43 LOCK BOX NSF ITEMS: (25,850.54) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 564.40 COLLECTION ACCOUNT INTEREST 7,102.30 PAYAHEAD ACCOUNT INTEREST 75.56 TOTAL COLLECTION PROCEEDS: 2,092,383.15 FOR DISTRIBUTION DATE: 3/15/99 FOR DETERMINATION DATE: 3/8/99 FOR COLLECTION PERIOD: 2/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 38,398,221.42 Principal portion of payments collected (non-prepayments) 888,537.74 Prepayments in full allocable to principal 384,593.00 Collections allocable to principal 1,273,130.74 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 171,717.99 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,444,848.73 Realized Losses 566,418.34 Cram Down Losses 0.00 Ending Principal Balance 36,386,954.35 INTEREST Collections allocable to interest 578,027.92 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 69,506.50 --------------- Total Interest 647,534.42 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 36,478,310.32 Beginning of Period Class B Principal Balance 2,424,451.22 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 6,050,565.75 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 19,687.71 Aggregate Payahead Balance 16,701.54 Aggregate Payahead Balance for preceding Distribution Date 17,265.94 Interest Earned on Payahead Balances 75.56 Scheduled Payments due in Collection Period 1,573,408.99 Scheduled Payments collected in Collection Period 1,466,565.66 Aggregate Amount of Realized Losses for preceding Distribution Date 566,418.34 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 359.37 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 144 1,452,000.00 60+ days delinquent 131 1,381,000.00 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 2,833,000.00 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 363,459.25 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 7.81% Delinquency Ratio for third preceding Determination Date 7.52% Cumulative Defaults for preceding Determination Date 15,159,771.87 Cumulative Net Losses for preceding Determination Date 11,927,504.74 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) 1,851,158.66 Liquidation Proceeds 171,717.99 Recoveries 69,506.50 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 2,092,383.15 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 888,537.74 Prepayments in full allocable to principal 384,593.00 Principal Balance of Liquidated Receivables 738,136.33 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,011,267.07 Class A Principal Distributable Amount Principal Distributable Amount 2,011,267.07 Times Class A Percentage (95%) 95% --------------- 1,910,703.72 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,910,703.72 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 36,478,310.32 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 191,511.13 Class B Principal Distributable Amount Principal Distributable Amount 2,011,267.07 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 100,563.35 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 2,424,451.22 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 20,506.82 Class B Excess Interest Amount Total Distribution Amount 2,092,383.15 minus Class A Principal and Interest Distributable Amount 2,102,214.85 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 20,506.82 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 100,563.35 Class B Principal Carryover Shortfall 504,540.14 Trustee distributions 839.35 Standby Servicer distributions 2,559.88 Servicer distributions 83,684.75 Collateral Agent distributions 486.28 Reimbursement Obligations 10,082.22 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 504,540.14 --------------- 504,540.14 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 2,559.88 Servicing Fee (2.0%) 63,997.04 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 19,687.71 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 479.98 Trustee's out-of-pocket expenses 359.37 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 486.28 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 191,511.13 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 191,511.13 (viii)(A) Class B Coupon Interest - Unadjusted 20,506.82 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 20,506.82 (v)(B) Class A Principal Distributable Amount - Current Month 1,910,703.72 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall (117,908.78) Withdrawal from Spread Account to Cover Shortfall 117,908.78 Class A Principal Distribution Amount 1,910,703.72 (vi) Certificate Insurer Premium 10,082.22 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 100,563.35 Class B Principal Carryover Shortfall - Previous Month(s) 504,540.14 Current Month Class B Principal Shortfall (605,103.49) Adjusted Class B Principal Distributable Amount 0.00 (C) Excess Interest Amount for Deposit in Spread Account (127,991.00) 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 36,478,310.32 Class A Principal Distributions 1,910,703.72 Class A End of Period Principal Balance 34,567,606.60 Class B Beginning of Period Principal Balance 2,424,451.22 Class B Principal Distributable Amount 0.00 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 2,092,383.15 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 279,081.39 (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) 1,813,301.76 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 1,813,301.76 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 20,506.82 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 1,792,794.94 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 1,792,794.94 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,910,703.72 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 111,908.78 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 0.00 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 0.00 (vi) Certificate Insurer Premium 10,082.22 (v) Certificate Insurer Premium Supplement 0.00 Deficiency Amount (10,082.22) Withdrawal from Spread Account to Cover Deficiency 10,082.22 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) 100,563.35 (iii)Prior month(s) carryover shortfalls 504,540.14 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (605,103.49) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (605,103.49) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 2,833,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 2,833,000.00 Aggregate Gross Principal Balance as of the close of 40,961,217.92 business on the last day of the Collection Period. DELINQUENCY RATIO 6.92% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 6.92% Delinquency Ratio for second preceding Determination Date 7.81% Delinquency Ratio for third preceding Determination Date 7.52% --------------- Average Delinquency Ratio 7.42% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 15,159,771.87 Current Period Defaulted Receivables 363,459.25 --------------- Total 15,523,231.12 Cumulative Defaulted Receivables 15,523,231.12 Original Pool Balance 92,857,811.12 Cumulative Default Ratio 16.72% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 738,136.33 Cram Down Losses 0.00 Net Liquidation Proceeds (241,224.49) --------------- Net Liquidation Losses 496,911.84 Cumulative Previous Net Losses 11,927,504.74 --------------- Cumulative Net Losses 12,424,416.58 Original Pool Balance 92,857,811.12 Cumulative Net Loss Ratio 13.38% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.03 Weighted Average Remaining Term 31.16 Weighted Average Annual Percentage Rate 20.47% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 3,699,205.78 15% of Outstanding Certificate Balance 5,548,808.67 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y-WAIVED --------------- Cap Amount 10,370,281.98 Spread Account Floor 3% of the Initial Certificate Balance 2,785,734.33 Outstanding Certificate Balance 36,992,057.82 Minimum Floor 100,000.00 --------------- Floor Amount 2,785,734.33 Required Spread Account Amount 10,370,281.98 Beginning of Period Spread Account Balance 6,050,565.75 Spread Account Deposit (Withdrawal) from Current Distributions (127,991.00) Transfer (to) from Cross-Collateralized Spread Accounts 3,454.24 Required addition to/(eligible withdrawal from) Spread Account 4,444,252.99 Earnings on Spread Account Balance 25,654.23 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 5,951,683.22 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1997-1 6.55% ASSET-BACKED CERTIFICATES Distribution Date 3/16/99 Collection Period 2/99 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 $2,482,358.28 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $247,650.67 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,234,707.61 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $25.54 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $2.55 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $22.99 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $83,338.09 (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 $51,913.29 (j) Scheduled Payments due in such Collection Period $1,827,639.63 (k) Scheduled Payments collected in such Collection Period $1,743,435.36 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 $47,759,069.29 (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 $46,318,608.05 (c) The Pool factor as of the close of business on the last day set forth above 0.9698390 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 $103,130.88 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,183.94 (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 $18,861.20 (b) Distributions (to) from Collection Account $1,825.31 for Payaheads (c) Interest earned on Payahead Balances $254.08 (d) Ending Payahead Account Balance $20,940.59 5 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $12,940,922.46 Spread Account Balance $7,119,664.53 (b) The change in the spread account on the Distribution Date set forth above $34,615.72 6 Policy (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $12,581.45 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $638,238.36 (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 178 Aggregate Gross Amount $1,938,000.00 (d) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent 60 days or more Number 175 Aggregate Gross Amount $2,023,000.00 8 Performance Triggers. (a) Delinquency Ratio 7.73% (b) Average Delinquency Ratio 8.03% (c) Cumulative Default Ratio 16.76% (d) Cumulative Net Loss Ratio 13.16% (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: 2,705,495.41 Lock Box NSF Items: (26,706.04) Transfers from (to) Payahead Account: (1,825.31) Collection Account Interest 8,999.93 Payahead Account Interest 254.08 Total Collection Proceeds: 2,686,218.07 For Distribution Date: 3/15/99 For Determination Date: 3/8/99 For Collection Period: 2/99 COLLATERAL ACTIVITY INFORMATION Principal Beginning Principal Balance 47,759,069.29 Principal portion of payments collected (non-prepayments) 895,340.85 Prepayments in full allocable to principal 564,540.00 Collections allocable to principal 1,459,880.85 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 254,204.59 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,714,085.44 Realized Losses 638,238.36 Cram Down Losses 0.00 Ending Principal Balance 45,406,745.49 INTEREST Collections allocable to interest 848,094.51 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 124,038.12 --------------- Total Interest 972,132.63 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 45,371,115.82 Beginning of Period Class B Principal Balance 3,234,113.13 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 7,085,048.81 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 23,532.43 Aggregate Payahead Balance 20,686.51 Aggregate Payahead Balance for preceding Distribution Date 18,861.20 Interest Earned on Payahead Balances 254.08 Scheduled Payments due in Collection Period 1,827,639.63 Scheduled Payments collected in Collection Period 1,743,435.36 Aggregate Amount of Realized Losses for preceding Distribution Date 638,238.36 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 420.87 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 178 1,938,000.00 60+ days delinquent 175 2,023,000.00 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. 3,961,000.00 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. 458,016.55 Delinquency Ratio for second preceding Determination Date 8.61% Delinquency Ratio for third preceding Determination Date 7.76% Cumulative Defaults for preceding Determination Date 16,691,188.71 Cumulative Net Losses for preceding Determination Date 12,952,807.58 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) 2,307,975.36 Liquidation Proceeds 254,204.59 Recoveries 124,038.12 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 2,686,218.07 DISTRIBUTABLE AMOUNT PRINCIPAL DISTRIBUTABLE AMOUNT Principal portion of payments collected (non-prepayments) 895,340.85 Prepayments in full allocable to principal 564,540.00 Principal Balance of Liquidated Receivables 892,442.95 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,352,323.80 CLASS A PRINCIPAL DISTRIBUTABLE AMOUNT Principal Distributable Amount 2,352,323.80 Times Class A Percentage (95%) 95% --------------- 2,234,707.61 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,234,707.61 CLASS A INTEREST DISTRIBUTABLE AMOUNT Beginning of Period Principal Balance of the Certificates 45,371,115.82 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 247,650.67 CLASS B PRINCIPAL DISTRIBUTABLE AMOUNT Principal Distributable Amount 2,352,323.80 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 117,616.19 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 2,686,218.07 minus Class A Principal and Interest Distributable Amount 2,482,358.28 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 117,616.19 Class B Principal Carryover Shortfall 846,159.66 Trustee distributions 1,017.86 Standby Servicer distributions 3,183.94 Servicer distributions 103,130.88 Collateral Agent distributions 607.57 Reimbursement Obligations 12,581.45 --------------- 0.00 Carryover Shortfalls from Prior Periods Class B Principal Carryover Shortfall from previous period 846,159.66 --------------- 846,159.66 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 3,183.94 Servicing Fee (2.0%) 79,598.45 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 23,532.43 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Trustee Fee 596.99 Trustee's out-of-pocket expenses 420.87 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 607.57 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 247,650.67 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 247,650.67 (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 2,234,707.61 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 2,234,707.61 (vi) Certificate Insurer Premium 12,581.45 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 117,616.19 Class B Principal Carryover Shortfall - Previous Month(s) 846,159.66 Current Month Class B Principal Shortfall (911,862.56) Adjusted Class B Principal Distributable Amount 51,913.29 (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 45,371,115.82 Class A Principal Distributions 2,234,707.61 Class A End of Period Principal Balance 43,136,408.21 Class B Beginning of Period Principal Balance 3,234,113.13 Class B Principal Distributable Amount 51,913.29 Class B End of Period Principal Balance BEFORE Spread Account Distributions 3,182,199.84 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 3,182,199.84 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,686,218.07 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 355,590.92 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,330,627.15 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 2,330,627.15 (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) 2,299,202.35 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,299,202.35 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,234,707.61 (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) 64,494.74 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 64,494.74 (vi) Certificate Insurer Premium 12,581.45 (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) 51,913.29 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 51,913.29 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 117,616.19 (iii)Prior month(s) carryover shortfalls 846,159.66 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (911,862.56) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (911,862.56) CALCULATIONS PERFORMANCE MEASURES CALCULATION OF DELINQUENCY RATIO (CURRENT PERIOD) DELINQUENCY AMOUNT Receivables more than 30 days delinquent 3,961,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 3,961,000.00 Aggregate Gross Principal Balance as of the close of 51,242,592.10 business on the last day of the Collection Period. DELINQUENCY RATIO 7.73% CALCULATION OF AVERAGE DELINQUENCY RATIO Delinquency Ratio for most recent Determination Date 7.73% Delinquency Ratio for second preceding Determination Date 8.61% Delinquency Ratio for third preceding Determination Date 7.76% --------------- AVERAGE DELINQUENCY RATIO 8.03% CALCULATION OF CUMULATIVE DEFAULT RATIO DEFAULT AMOUNT Principal Balance of Previously Defaulted Receivables 16,691,188.71 Current Period Defaulted Receivables 458,016.55 --------------- Total 17,149,205.26 Cumulative Defaulted Receivables 17,149,205.26 Original Pool Balance 102,327,009.71 CUMULATIVE DEFAULT RATIO 16.76% CALCULATION OF CUMULATIVE NET LOSS RATIO CALCULATION OF NET LIQUIDATION LOSSES Principal Balance plus accrued and unpaid interest of Liquidated Receivables 892,442.95 Cram Down Losses 0.00 Net Liquidation Proceeds (378,242.71) --------------- Net Liquidation Losses 514,200.24 Cumulative Previous Net Losses 12,952,807.58 --------------- Cumulative Net Losses 13,467,007.82 Original Pool Balance 102,327,009.71 CUMULATIVE NET LOSS RATIO 13.16% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.35 Weighted Average Remaining Term 33.93 Weighted Average Annual Percentage Rate 20.50% SPREAD ACCOUNT SPREAD ACCOUNT CAP 10% of Outstanding Certificate Balance 4,631,860.81 15% of Outstanding Certificate Balance 6,947,791.21 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y-WAIVED --------------- Cap Amount 12,940,922.46 SPREAD ACCOUNT FLOOR 3% of the Initial Certificate Balance 3,069,810.29 Outstanding Certificate Balance 46,318,608.05 Minimum Floor 100,000.00 --------------- FLOOR AMOUNT 3,069,810.29 Required Spread Account Amount 12,940,922.46 Beginning of Period Spread Account Balance 7,085,048.81 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 4,550.76 Required addition to/(eligible withdrawal from) Spread Account 5,851,322.89 Earnings on Spread Account Balance 30,064.96 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 7,119,664.53 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1997-2 6.65% ASSET-BACKED CERTIFICATES Distribution Date 3/15/99 Collection Period 2/99 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 $2,700,063.62 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $337,345.88 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,362,717.74 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $23.81 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $2.97 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $20.84 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $419,737.10 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $37,312.04 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $382,425.06 (j) Scheduled Payments due in such Collection Period $2,346,593.88 (k) Scheduled Payments collected in such Collection Period $2,521,475.44 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 $64,078,363.58 (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 $62,043,152.97 (c) The Pool factor as of the close of business on the last day set forth above 0.9682387 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 $137,759.00 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $4,271.89 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.21 (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 $17,584.08 (b) Distributions (to) from Collection Account $1,462.84 for Payaheads (c) Interest earned on Payahead Balances $88.15 (d) Ending Payahead Account Balance $19,135.07 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 $9,306,472.95 Spread Account Balance $9,225,420.53 (b) The change in the spread account on the Distribution Date set forth above $39,012.67 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 $17,065.92 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $510,544.35 (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 232 Aggregate Gross Amount $2,539,000.00 (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 218 Aggregate Gross Amount $2,577,000.00 8 Performance Triggers. (a) Delinquency Ratio 7.41% (b) Average Delinquency Ratio 7.79% (c) Cumulative Default Ratio 14.31% (d) Cumulative Net Loss Ratio 10.76% (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: 3,304,673.50 LOCK BOX NSF ITEMS: (32,306.78) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: (1,462.84) COLLECTION ACCOUNT INTEREST 10,062.05 PAYAHEAD ACCOUNT INTEREST 88.15 TOTAL COLLECTION PROCEEDS: 3,281,054.08 FOR DISTRIBUTION DATE: 3/15/99 FOR DETERMINATION DATE: 3/8/99 FOR COLLECTION PERIOD: 2/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 64,078,363.58 Principal portion of payments collected (non-prepayments) 1,348,295.96 Prepayments in full allocable to principal 548,924.00 Collections allocable to principal 1,897,219.96 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 79,306.99 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,976,526.95 Realized Losses 510,544.35 Cram Down Losses 0.00 Ending Principal Balance 61,591,292.28 INTEREST Collections allocable to interest 1,173,179.48 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 131,347.65 --------------- Total Interest 1,304,527.13 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 60,874,445.41 Beginning of Period Class B Principal Balance 3,913,850.36 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 9,186,407.86 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 30,961.73 Aggregate Payahead Balance 19,046.92 Aggregate Payahead Balance for preceding Distribution Date 17,584.08 Interest Earned on Payahead Balances 88.15 Scheduled Payments due in Collection Period 2,346,593.88 Scheduled Payments collected in Collection Period 2,521,475.44 Aggregate Amount of Realized Losses for preceding Distribution Date 510,544.35 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 545.72 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 232 2,539,000.00 60+ days delinquent 218 2,577,000.00 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. 5,116,000.00 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. 634,245.01 Delinquency Ratio for second preceding Determination Date 8.43% Delinquency Ratio for third preceding Determination Date 7.54% Cumulative Defaults for preceding Determination Date 16,449,034.49 Cumulative Net Losses for preceding Determination Date 12,467,252.60 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) 3,070,399.44 Liquidation Proceeds 79,306.99 Recoveries 131,347.65 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 3,281,054.08 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,348,295.96 Prepayments in full allocable to principal 548,924.00 Principal Balance of Liquidated Receivables 589,851.34 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,487,071.30 Class A Principal Distributable Amount Principal Distributable Amount 2,487,071.30 Times Class A Percentage (95%) 95% --------------- 2,362,717.74 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,362,717.74 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 60,874,445.41 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 337,345.88 Class B Principal Distributable Amount Principal Distributable Amount 2,487,071.30 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 124,353.57 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 3,913,850.36 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 37,312.04 Class B Excess Interest Amount Total Distribution Amount 3,281,054.08 minus Class A Principal and Interest Distributable Amount 2,700,063.62 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 37,312.04 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 124,353.57 Class B Principal Carryover Shortfall 709,932.19 Trustee distributions 1,346.70 Standby Servicer distributions 4,271.89 Servicer distributions 137,759.00 Collateral Agent distributions 809.85 Reimbursement Obligations 17,065.92 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 709,932.19 --------------- 709,932.19 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 4,271.89 Servicing Fee (2.0%) 106,797.27 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 30,961.73 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 800.98 Trustee's out-of-pocket expenses 545.72 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 809.85 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 337,345.88 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 337,345.88 (viii)(A) Class B Coupon Interest - Unadjusted 37,312.04 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 37,312.04 (v)(B) Class A Principal Distributable Amount - Current Month 2,362,717.74 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 2,362,717.74 (vi) Certificate Insurer Premium 17,065.92 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 124,353.57 Class B Principal Carryover Shortfall - Previous Month(s) 709,932.19 Current Month Class B Principal Shortfall (451,860.69) Adjusted Class B Principal Distributable Amount 382,425.06 (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 1994-2, 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 60,874,445.41 Class A Principal Distributions 2,362,717.74 Class A End of Period Principal Balance 58,511,727.68 Class B Beginning of Period Principal Balance 3,913,850.36 Class B Principal Distributable Amount 382,425.06 Class B End of Period Principal Balance BEFORE Spread Account Distributions 3,531,425.30 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 3,531,425.30 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 3,281,054.08 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 481,533.32 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,799,520.76 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 2,799,520.76 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 37,312.04 (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) 2,762,208.72 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,762,208.72 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,362,717.74 (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) 399,490.99 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 399,490.99 (vi) Certificate Insurer Premium 17,065.92 (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) 382,425.06 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 382,425.06 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 124,353.57 (iii) Prior month(s) carryover shortfalls 709,932.19 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (451,860.69) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (451,860.69) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 5,116,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 5,116,000.00 Aggregate Gross Principal Balance as of the close of 69,007,462.51 business on the last day of the Collection Period. DELINQUENCY RATIO 7.41% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 7.41% Delinquency Ratio for second preceding Determination Date 8.43% Delinquency Ratio for third preceding Determination Date 7.54% --------------- Average Delinquency Ratio 7.79% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 16,449,034.49 Current Period Defaulted Receivables 634,245.01 --------------- Total 17,083,279.50 Cumulative Defaulted Receivables 17,083,279.50 Original Pool Balance 119,362,032.46 Cumulative Default Ratio 14.31% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 589,851.34 Cram Down Losses 0.00 Net Liquidation Proceeds (210,654.64) --------------- Net Liquidation Losses 379,196.70 Cumulative Previous Net Losses 12,467,252.60 --------------- Cumulative Net Losses 12,846,449.30 Original Pool Balance 119,362,032.46 Cumulative Net Loss Ratio 10.76% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.35 Weighted Average Remaining Term 36.40 Weighted Average Annual Percentage Rate 20.43% SPREAD ACCOUNT Spread Account Cap 9% of Outstanding Certificate Balance 5,583,883.77 15% of Outstanding Certificate Balance 9,306,472.95 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) --------------- Cap Amount 9,306,472.95 Spread Account Floor 3% of the Initial Certificate Balance 3,580,860.93 Outstanding Certificate Balance 62,043,152.97 Minimum Floor 100,000.00 --------------- Floor Amount 3,580,860.93 Required Spread Account Amount 9,306,472.95 Beginning of Period Spread Account Balance 9,186,407.86 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 63.36 Required addition to/(eligible withdrawal from) Spread Account 120,001.73 Earnings on Spread Account Balance 38,949.31 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 9,225,420.53 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 3/15/99 Collection Period 2/99 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 $3,220,704.26 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $83,866.16 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $3,136,838.10 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $39.84 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $1.04 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $38.81 (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 $106,001.62 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $19,824.75 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $86,176.87 (p) The aggregate amount of the distribution to Certificateholders on the Distribution Date set forth above $106,001.62 (q) The amount of the distribution set forth in paragraph A.1. (p) above in respect of interest $19,824.75 (r) The amount of the distribution set forth in in paragraph A.1. (p) above in respect of principal $86,176.87 (s) Scheduled Payments due in such Collection Period $3,095,754.72 (t) Scheduled Payments collected in such Collection Period $3,290,089.25 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 $89,350,975.69 (b) The aggregate principal amount of the Securities as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c),(i),(o),(r) above $79,324,618.36 (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),(o) above $77,177,020.83 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8637513 (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 $2,147,597.53 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0240355 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 $185,990.15 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $4,467.55 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $2.30 (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 $25,771,170.26 Spread Account Balance $3,754,663.92 (b) The change in the spread account on the Distribution Date set forth above $564,644.94 5 Policy. (a) The amount paid to the Noteholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Note Insurer on such Distribution Date $21,883.58 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $663,180.95 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 324 Aggregate Gross Amount $3,768,000.00 (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 284 Aggregate Gross Amount $3,378,000.00 7 Performance Triggers (a) Delinquency Ratio 7.45% (b) Average Delinquency Ratio 7.62% (c) Cumulative Default Ratio 12.93% (d) Cumulative Net Loss Ratio 9.47% (e) Is a Portfolio Performance Test violation continuing? Yes (f) Has an Insurance Agreement Event of Default occurred? No(a)
CPS AUTO RECEIVABLES TRUST 1997-3 STATEMENT TO NOTEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 4,555,002.34 LOCK BOX NSF ITEMS: (58,014.55) TOTAL COLLECTION PROCEEDS: 4,496,987.79 FOR DISTRIBUTION DATE: 3/15/99 FOR DETERMINATION DATE: 3/8/99 FOR COLLECTION PERIOD: 2/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 89,350,975.69 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 89,350,975.69 Principal portion of payments collected (non-prepayments) 1,720,848.80 Prepayments in full allocable to principal 942,383.00 Collections allocable to principal 2,663,231.80 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 120,662.08 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 2,783,893.88 Realized Losses 663,180.95 Cram Down Losses 0.00 Ending Principal Balance 85,903,900.86 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 1,569,240.45 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 143,853.46 --------------- Total Interest 1,713,093.91 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 16,498,261.40 Beginning of Period Class A-2 Principal Balance 61,668,000.00 Beginning of Period Class B Principal Balance 2,233,774.40 Beginning of Period Certificate Balance 2,233,774.40 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 3,190,018.98 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 37,071.86 Scheduled Payments due in Collection Period 3,095,754.72 Scheduled Payments collected in Collection Period 3,290,089.25 Aggregate Amount of Realized Losses for preceding Distribution Date 663,180.95 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 2,689.36 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 324 3,768,000.00 60+ days delinquent 284 3,378,000.00 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. 7,146,000.00 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. 724,556.35 Delinquency Ratio for second preceding Determination Date 7.95% Delinquency Ratio for third preceding Determination Date 7.46% Cumulative Defaults for preceding Determination Date 18,666,892.40 Cumulative Net Losses for preceding Determination Date 13,680,113.12 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 6.5550% minus 2.5% 2.50% --------------- 4.0550% divided by 360 0.0113% 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) 4,232,472.25 Liquidation Proceeds 120,662.08 Recoveries 143,853.46 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 0.05 Investment earnings from Prefunding Account 0.00 Investment earnings from Interest Reserve Account 250.62 Investment earnings from Collection Account 13,965.81 --------------- TOTAL DISTRIBUTION AMOUNT 4,511,204.27 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,720,848.80 Prepayments in full allocable to principal 942,383.00 Principal Balance of Liquidated Receivables 783,843.03 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 3,447,074.83 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 85,903,900.86 --------------- 77,313,510.77 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 74.6% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 3,447,074.83 Times Class A Noteholders' Percentage 91% --------------- 3,136,838.10 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 3,136,838.10 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 16,498,261.40 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 83,866.16 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 3,447,074.83 Times Class B Percentage 2.5% --------------- Class B Principal Distributable Amount 86,176.87 Certificate Principal Distributable Amount Principal Distributable Amount 3,447,074.83 Times Certificate Percentage 2.5% --------------- Certificate Principal Distributable Amount 86,176.87 Class B Noteholders' Interest Amount Beginning of Period Principal Balance of the Notes 2,233,774.40 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 19,824.75 Certificateholders' Interest Amount Beginning of Period Principal Balance of the Certificates 2,233,774.40 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 19,824.75 Class B Excess Interest Amount Total Distribution Amount 4,511,204.27 minus Class A Principal and Interest Distributable Amount 3,220,704.26 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 19,824.75 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 86,176.87 Class B Principal Carryover Shortfall 0.00 Trustee distributions 3,433.95 Standby Servicer distributions 4,467.55 Servicer distributions 185,990.15 Collateral Agent distributions 688.62 Reimbursement Obligations 21,883.58 --------------- 968,034.54 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 4,467.55 Servicing Fee (2.0%) 148,918.29 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 37,071.86 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 744.59 Indenture Trustee's out-of-pocket expenses 2,689.36 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 688.62 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 83,866.16 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 83,866.16 (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 19,824.75 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 19,824.75 (B) Certificate Interest - Unadjusted 19,824.75 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 19,824.75 (vii) Class A Principal Distributable Amount - Current Month 3,136,838.10 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount to Class A-1 3,136,838.10 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 21,883.58 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 86,176.87 Class B Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class B Principal Shortfall 0.00 Adjusted Class B Principal Distributable Amount 86,176.87 Certificate Principal Distributable Amount - Current Month Unadjusted 86,176.87 Certificate Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Certificate Principal Shortfall 0.00 Adjusted Certificate Principal Distributable Amount 86,176.87 (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. 534,164.72 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 1994-2, 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 16,498,261.40 Class A-1 Principal Distributions 3,136,838.10 Class A-1 End of Period Principal Amount (prior to turbo) 13,361,423.30 Additional Principal Distribution 0.00 Class A-1 End of Period Principal Amount 13,361,423.30 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 2,233,774.40 Class B Principal Distributable Amount 86,176.87 Class B End of Period Principal Amount BEFORE Spread Account Distributions 2,147,597.53 Allocations of Cash Releases to Cover B Shortfalls 0.00 Class B End of Period Principal Amount AFTER Spread Account Distributions 2,147,597.53 Certificate Beginning of Period Principal Amount 2,233,774.40 Certificate Principal Distributable Amount 86,176.87 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 2,147,597.53 Allocation of Cash Releases to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 2,147,597.53 CLASS A-1 DEFICIENCY - INTEREST (i) Total Distribution Amount Available 4,511,204.27 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(i) and (v)A 278,446.43 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 4,232,757.84 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(v) B 4,232,757.84 (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) 3,904,889.64 CLASS B NOTE DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) A 3,904,889.64 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(v) A 19,824.75 (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) 3,885,064.89 CLASS B CERTIFICATE DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) and (x) 3,885,064.89 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(vi) and (x) 19,824.75 (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) 3,865,240.14 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a)(vii) 3,865,240.14 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(vii) 3,136,838.10 (iii) Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 728,402.04 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.8(a)(viii) 728,402.04 (vi) Note Insurer Premium 21,883.58 (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) 706,518.46 CLASS B NOTES & CERTIFICATES DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) and (x) 706,518.46 (ii) Amounts payable pursuant to Section 5.8(a)(vi) and (x) 172,353.74 (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) 267,082.36 Amount Remaining for Further Distribution/ B Certificates (Deficiency) 267,082.36 Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 534,164.72 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 7,146,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 7,146,000.00 Aggregate Gross Principal Balance as of the close of 95,930,444.04 business on the last day of the Collection Period. DELINQUENCY RATIO 7.45% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 7.45% Delinquency Ratio for second preceding Determination Date 7.95% Delinquency Ratio for third preceding Determination Date 7.46% ---------------- Average Delinquency Ratio 7.62% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 18,666,892.40 Current Period Defaulted Receivables 724,556.35 --------------- Total 19,391,448.75 Cumulative Defaulted Receivables 19,391,448.75 Original Pool Balance 150,000,000.00 Cumulative Default Ratio 12.93% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 783,843.03 Cram Down Losses 0.00 Net Liquidation Proceeds (264,515.54) --------------- Net Liquidation Losses 519,327.49 Cumulative Previous Net Losses 13,680,113.12 --------------- Cumulative Net Losses 14,199,440.61 Original Pool Balance 150,000,000.00 Cumulative Net Loss Ratio 9.47% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.00 Weighted Average Remaining Term 39.03 Weighted Average Annual Percentage Rate 20.37% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 85,903,900.86 minus the Securities Balance 79,324,618.36 --------------- 6,579,282.50 divided by the Aggregate Principal Balance 7.66% Floor OC Percent Aggregate Principal Balance 85,903,900.86 minus the Securities Balance 79,324,618.36 --------------- 6,579,282.50 divided by the initial Aggregate Principal Balance 150,000,000.00 --------------- 4.39% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 79,324,618.36 (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 1.34% if a Trigger Event, 15% minus the OC Percent 7.34% if a Portfolio Performance Event of Default, 30% minus the OC Percent 22.34% if an Insurance Agreement Event of Default, 30% 30.00% 30.00% times the Aggregate Principal Balance 85,903,900.86 --------------- 25,771,170.26 Requisite Amount 25,771,170.26 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 25,771,170.26 Beginning of Period Spread Account Balance 3,190,018.98 Additional Deposit for Subsequent Receivables Transfer 0.00 Spread Account Deposit (Withdrawal) from Current Distributions 534,164.72 Transfer (to) from Cross-Collateralized Spread Accounts 17,211.39 Required addition to/(eligible withdrawal from) Spread Account 22,029,775.17 Earnings on Spread Account Balance 13,268.93 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 3,754,663.92 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 3/15/99 Collection Period 2/99 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 $2,409,245.53 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $73,277.51 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,335,968.02 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $44.40 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $1.35 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $43.05 (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 $158,919.57 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $30,569.68 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $128,349.89 (p) Scheduled Payments due in such Collection Period $2,311,430.37 (q) Scheduled Payments collected in such Collection Period $2,188,149.65 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 $69,279,723.27 (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 $61,793,759.45 (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 $58,458,123.17 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8437985 (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 $3,335,636.28 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0481474 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 $142,005.70 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,463.99 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $2.62 (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 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 $20,013,817.64 Spread Account Balance $2,944,800.96 (b) The change in the spread account on the Distribution Date set forth above $57,692.32 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 $17,050.29 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $699,939.55 (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 204 Aggregate Gross Amount $2,423,000.00 (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 223 Aggregate Gross Amount $2,713,000.00 7 Performance Triggers. (a) Delinquency Ratio 6.90% (b) Average Delinquency Ratio 7.13% (c) Cumulative Default Ratio 10.37% (d) Cumulative Net Loss Ratio 7.52% (e) Is a Portfolio Performance Test violation continuing? No (f) Has an Insurance Agreement Event of Default occurred? No(a)
CPS AUTO RECEIVABLES TRUST 1997-4 STATEMENT TO NOTEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 3,030,876.59 LOCK BOX NSF ITEMS: (33,099.13) TOTAL COLLECTION PROCEEDS: 2,997,777.46 FOR DISTRIBUTION DATE: 3/15/99 FOR DETERMINATION DATE: 3/8/99 FOR COLLECTION PERIOD: 2/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 69,279,723.27 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 69,279,723.27 Principal portion of payments collected (non-prepayments) 1,145,404.31 Prepayments in full allocable to principal 420,475.00 Collections allocable to principal 1,565,879.31 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 301,178.96 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,867,058.27 Realized Losses 699,939.55 Cram Down Losses 0.00 Ending Principal Balance 66,712,725.45 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 $1,042,745.34 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 87,973.85 --------------- Total Interest $1,130,719.19 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 14,486,492.59 Beginning of Period Class A-2 Principal Balance 46,307,598.60 Beginning of Period Certificate Principal Balance 3,463,986.17 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 2,887,108.64 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 26,539.49 Scheduled Payments due in Collection Period 2,311,430.37 Scheduled Payments collected in Collection Period 2,188,149.65 Aggregate Amount of Realized Losses for preceding Distribution Date 699,939.55 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 171.30 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 204 2,423,000.00 60+ days delinquent 223 2,713,000.00 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. 5,136,000.00 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. 588,128.98 Delinquency Ratio for second preceding Determination Date 7.68% Delinquency Ratio for third preceding Determination Date 6.81% Cumulative Defaults for preceding Determination Date 10,386,631.86 Cumulative Net Losses for preceding Determination Date 7,350,068.34 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) 2,608,624.65 Liquidation Proceeds 301,178.96 Recoveries 87,973.85 Purchase Amounts 0.00 Note Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 9,784.26 --------------- TOTAL DISTRIBUTION AMOUNT 3,007,561.72 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,145,404.31 Prepayments in full allocable to principal 420,475.00 Principal Balance of Liquidated Receivables 1,001,118.51 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,566,997.82 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 66,712,725.45 --------------- 60,041,452.91 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 72.1% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 2,566,997.82 Times Class A Noteholders' Percentage 91% --------------- 2,335,968.02 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,335,968.02 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 14,486,492.59 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 73,277.51 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 2,566,997.82 Times Certificate Percentage 5.0% --------------- Class B Principal Distributable Amount 128,349.89 Certificateholders' Interest Amount Total Distribution Amount 3,007,561.72 minus Class A Principal and Interest Distributable Amount 2,652,360.42 Beginning of Period Principal Balance of the Certificates 3,463,986.17 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 30,569.68 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 30,569.68 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 128,349.89 Class B Principal Carryover Shortfall 0.00 Trustee distributions 748.63 Standby Servicer distributions 3,463.99 Servicer distributions 142,005.70 Collateral Agent distributions 535.48 Reimbursement Obligations 17,050.29 --------------- 32,477.65 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 3,463.99 Servicing Fee (2.0%) 115,466.21 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 26,539.49 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Indenture Trustee Fee 577.33 Indenture Trustee's out-of-pocket expenses 171.30 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 535.48 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 73,277.51 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 73,277.51 (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 30,569.68 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 30,569.68 (vii) Class A Principal Distributable Amount - Current Month 2,335,968.02 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 2,335,968.02 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 17,050.29 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 128,349.89 Certificate Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Certificate Principal Shortfall 0.00 Adjusted Certificate Principal Distributable Amount 128,349.89 (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. 32,477.65 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 1994-2, 1995-1, 1995-4, 1996-1, FASCO 1996-1, 1996-2, 1996-3, and 1997-1.
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 14,486,492.59 Class A-1 Principal Distributions 2,335,968.02 Class A-1 End of Period Principal Amount (prior to turbo) 12,150,524.57 Additional Principal Distribution 0.00 Class A-1 End of Period Principal Amount 12,150,524.57 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 3,463,986.17 Certificate Principal Distributable Amount 128,349.89 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 3,335,636.28 Withdrawal from Spread Account to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 3,335,636.28 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 3,007,561.72 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 463,146.20 (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 Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,544,415.52 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 2,544,415.52 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 30,569.68 (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) 2,513,845.84 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,513,845.84 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,335,968.02 (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) 177,877.82 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 177,877.82 (vi) Note Insurer Premium 17,050.29 (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) 160,827.54 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 160,827.54 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 128,349.89 (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) 32,477.65 Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 32,477.65 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 5,136,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 5,136,000.00 Aggregate Gross Principal Balance as of the close of 74,423,971.69 business on the last day of the Collection Period. DELINQUENCY RATIO 6.90% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 6.90% Delinquency Ratio for second preceding Determination Date 7.68% Delinquency Ratio for third preceding Determination Date 6.81% --------------- Average Delinquency Ratio 7.13% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 10,386,631.86 Current Period Defaulted Receivables 588,128.98 --------------- Total 10,974,760.84 Cumulative Defaulted Receivables 10,974,760.84 Original Pool Balance 105,860,630.11 Cumulative Default Ratio 10.37% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,001,118.51 Cram Down Losses 0.00 Net Liquidation Proceeds (389,152.81) --------------- Net Liquidation Losses 611,965.70 Cumulative Previous Net Losses 7,350,068.34 --------------- Cumulative Net Losses 7,962,034.04 Original Pool Balance 105,860,630.11 Cumulative Net Loss Ratio 7.52% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.79 Weighted Average Remaining Term 41.08 Weighted Average Annual Percentage Rate 20.27% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 66,712,725.45 minus the Securities Balance 61,793,759.45 --------------- 4,918,966.00 divided by the Aggregate Principal Balance 7.37% Floor OC Percent Aggregate Principal Balance 66,712,725.45 minus the Securities Balance 61,793,759.45 --------------- 4,918,966.00 divided by the initial Aggregate Principal Balance 105,860,630.11 --------------- 4.65% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 61,793,759.45 (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 1.63% if a Trigger Event, 15% minus the OC Percent 7.63% if a Portfolio Performance Event of Default, 30% minus the OC Percent 22.63% if an Insurance Agreement Event of Default, 30% 30.00% 30.00% times the Aggregate Principal Balance 66,712,725.45 --------------- 20,013,817.64 Requisite Amount 20,013,817.64 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 20,013,817.64 Beginning of Period Spread Account Balance 2,887,108.64 Spread Account Deposit (Withdrawal) from Current Distributions 32,477.65 Transfer (to) from Cross-Collateralized Spread Accounts 13,343.69 Required addition to/(eligible withdrawal from) Spread Account 17,080,887.66 Earnings on Spread Account Balance 11,870.98 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 2,944,800.96 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 3/15/99 Collection Period 2/99 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 $2,563,947.31 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $120,358.70 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,443,588.61 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $45.99 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $2.16 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $43.83 (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 $117,223.59 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $29,495.39 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $87,728.20 (p) Scheduled Payments due in such Collection Period $2,151,390.98 (q) Scheduled Payments collected in such Collection Period $2,080,744.86 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 $66,175,821.09 (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 $59,070,564.24 (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 $55,803,367.14 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8432592 (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 $3,267,197.11 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0493715 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 $133,637.22 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,308.79 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $2.40 (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 ($96,677.51) 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 $19,047,167.66 Spread Account Balance $2,790,989.66 (b) The change in the spread account on the Distribution Date set forth above $24,424.79 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 $18,136.09 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $824,999.17 (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 202 Aggregate Gross Amount $2,517,000.00 (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 201 Aggregate Gross Amount $2,525,000.00 7 Performance Triggers. (a) Delinquency Ratio 7.19% (b) Average Delinquency Ratio 7.40% (c) Cumulative Default Ratio 8.66% (d) Cumulative Net Loss Ratio 6.66% (e) Is a Portfolio Performance Test violation continuing? No (f) Has an Insurance Agreement Event of Default occurred? No(a)
CPS AUTO RECEIVABLES TRUST 1997-5 STATEMENT TO NOTEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 3,056,101.23 LOCK BOX NSF ITEMS: (38,023.38) TOTAL COLLECTION PROCEEDS: 3,018,077.85 FOR DISTRIBUTION DATE: 3/15/99 FOR DETERMINATION DATE: 3/8/99 FOR COLLECTION PERIOD: 2/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 66,175,821.09 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 66,175,821.09 Principal portion of payments collected (non-prepayments) 1,055,028.53 Prepayments in full allocable to principal 534,975.00 Collections allocable to principal 1,590,003.53 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 270,259.51 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,860,263.04 Realized Losses 824,999.17 Cram Down Losses 0.00 Ending Principal Balance 63,490,558.88 INTEREST Collections allocable to interest $1,025,716.33 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 132,098.58 --------------- Total Interest $1,157,814.81 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 23,071,955.75 Beginning of Period Class A-2 Principal Balance 35,175,000.00 Beginning of Period Certificate Principal Balance 3,354,925.31 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 2,766,564.87 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 23,344.18 Scheduled Payments due in Collection Period 2,151,390.98 Scheduled Payments collected in Collection Period 2,080,744.86 Aggregate Amount of Realized Losses for preceding Distribution Date 824,999.17 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 2,664.16 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to 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 202 2,517,000.00 60+ days delinquent 201 2,525,000.00 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 5,042,000.00 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 652,861.78 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 8.07% Delinquency Ratio for third preceding Determination Date 6.92% Cumulative Defaults for preceding Determination Date 7,639,292.17 Cumulative Net Losses for preceding Determination Date 5,684,166.28 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) 2,615,719.86 Liquidation Proceeds 270,259.51 Recoveries 132,098.48 Purchase Amounts 0.00 Note Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 9,504.14 --------------- TOTAL DISTRIBUTION AMOUNT 3,027,581.99 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,055,028.53 Prepayments in full allocable to principal 534,975.00 Principal Balance of Liquidated Receivables 1,095,258.68 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,685,262.21 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 63,490,558.88 -------------- 57,141,502.99 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 57.1% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 2,685,262.21 Times Class A Noteholders' Percentage 91% --------------- 2,443,588.61 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,443,588.61 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 23,071,955.75 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 120,358.70 Class A-2 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 35,175,000.00 Multiplied by the Note Rate 6.40% Multiplied by 30/360, or for the first Distribution Date, by 4/360 0.0833333 --------------- Class A Interest Distributable Amount 187,600.00 Certificateholders Principal Distributable Amount Principal Distributable Amount 2,685,262.21 Times Certificate Percentage 5.0% --------------- Class B Principal Distributable Amount 134,263.11 Certificateholders' Interest Amount Total Distribution Amount 3,027,581.99 minus Class A Principal and Interest Distributable Amount 2,751,547.31 Beginning of Period Principal Balance of the Certificates 3,354,925.31 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 29,495.39 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 29,495.39 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 134,263.11 Class B Principal Carryover Shortfall 50,142.60 Trustee distributions 3,215.63 Standby Servicer distributions 3,308.79 Servicer distributions 133,637.22 Collateral Agent distributions 513.35 Reimbursement Obligations 18,136.09 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 50,142.60 --------------- 50,142.60 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 3,308.79 Servicing Fee (2.0%) 110,293.04 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 23,344.18 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 551.47 Indenture Trustee's out-of-pocket expenses 2,664.16 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 513.35 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 120,358.70 Prior Month(s) Class A-1 Interest Carryover Shortfall 0.00 Class A-1 Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A-1 Interest Carryover Shortfall 0.00 Class A-1 Interest Distributable Amount 120,358.70 (B) Class A-2 Interest Distributable Amount - Current Month 187,600.00 Prior Month(s) Class A-2 Interest Carryover Shortfall 0.00 Class A-2 Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A-2 Interest Carryover Shortfall 0.00 Class A-2 Interest Distributable Amount 187,600.00 (vi)(A)Certificate Note Interest - Unadjusted 29,495.39 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 29,495.39 (vii) Class A Principal Distributable Amount - Current Month 2,443,588.61 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 2,443,588.61 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 18,136.09 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 134,263.11 Certificate Principal Carryover Shortfall - Previous Month(s) 50,142.60 Current Month Certificate Principal Shortfall (96,677.51) Adjusted Certificate Principal Distributable Amount 87,728.20 (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 1994-2, 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 23,071,955.75 Class A-1 Principal Distributions 2,443,588.61 Class A-1 End of Period Principal Amount (prior to turbo) 20,628,367.14 Additional Principal Distribution 0.00 Class A-1 End of Period Principal Amount 20,628,367.14 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 3,354,925.31 Certificate Principal Distributable Amount 87,728.20 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 3,267,197.11 Withdrawal from Spread Account to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 3,267,197.11 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 3,027,581.99 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 448,633.69 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,578,948.30 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 2,578,948.30 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 29,495.39 (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) 2,549,452.91 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 2,549,452.91 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 2,443,588.61 (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) 105,864.30 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 105,864.30 (vi) Note Insurer Premium 18,136.09 (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) 87,728.20 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 87,728.20 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 134,263.11 (iii)Prior month(s) carryover shortfalls 50,142.60 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (96,677.51) 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 5,042,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 5,042,000.00 Aggregate Gross Principal Balance as of the close of 70,082,911.50 business on the last day of the Collection Period. DELINQUENCY RATIO 7.19% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 7.19% Delinquency Ratio for second preceding Determination Date 8.07% Delinquency Ratio for third preceding Determination Date 6.92% ---------------- Average Delinquency Ratio 7.40% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 7,639,292.17 Current Period Defaulted Receivables 652,861.78 --------------- Total 8,292,153.95 Cumulative Defaulted Receivables 8,292,153.95 Original Pool Balance 95,706,307.00 Cumulative Default Ratio 8.66% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,095,258.68 Cram Down Losses 0.00 Net Liquidation Proceeds (402,357.99) --------------- Net Liquidation Losses 692,900.69 Cumulative Previous Net Losses 5,684,166.28 --------------- Cumulative Net Losses 6,377,066.97 Original Pool Balance 95,706,307.00 Cumulative Net Loss Ratio 6.66% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.00 Weighted Average Remaining Term 42.35 Weighted Average Annual Percentage Rate 20.22% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 63,490,558.88 minus the Securities Balance 59,070,564.24 --------------- 4,419,994.64 divided by the Aggregate Principal Balance 6.96% Floor OC Percent Aggregate Principal Balance 63,490,558.88 minus the Securities Balance 59,070,564.24 --------------- 4,419,994.64 divided by the initial Aggregate Principal Balance 95,706,307.00 --------------- 4.62% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 59,070,564.24 (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 2.0% if a Trigger Event, 15% minus the OC Percent 8.0% if a Portfolio Performance Event of Default, 30% minus the OC Percent 23.0% if an Insurance Agreement Event of Default, 30% 30% 30% times the Aggregate Principal Balance 63,490,558.88 --------------- 19,047,167.66 Requisite Amount 19,047,167.66 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 19,047,167.66 Beginning of Period Spread Account Balance 2,766,564.87 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 12,708.25 Required addition to/(eligible withdrawal from) Spread Account 16,267,894.54 Earnings on Spread Account Balance 11,716.54 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 2,790,989.66 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 3/15/99 Collection Period 2/99 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 $6,090,774.73 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $690,396.71 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $5,400,378.02 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $34.29 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $3.89 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $30.41 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $258,792.53 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $62,075.14 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $196,717.39 (j) Scheduled Payments due in such Collection Period $4,536,865.80 (k) Scheduled Payments collected in such Collection Period $4,513,904.56 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 $145,346,675.48 (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 $139,749,580.07 (c) The Pool factor as of the close of business on the last day set forth above 0.9614914 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 $292,036.87 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,028.06 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.64 (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 $29,387.89 (b) Distributions (to) from Collection Account ($2,753.10) for Payaheads (c) Interest earned on Payahead Balances $323.85 (d) Ending Payahead Account Balance $26,958.64 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 $41,924,874.02 Spread Account Balance $22,059,819.84 (b) The change in the spread account on the Distribution Date set forth above $108,005.20 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 $45,331.98 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,565,563.33 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 382 Aggregate Gross Amount $4,741,000.00 (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 403 Aggregate Gross Amount $5,048,000.00 8 Performance Triggers. (a) Delinquency Ratio 6.34% (b) Average Delinquency Ratio 6.80% (c) Cumulative Default Ratio 6.13% (d) Cumulative Net Loss Ratio 4.38% (e) Is a Portfolio Performance Test violation continuing? No (f) Has an Insurance Agreement Event of Default occurred? Yes
CPS AUTO GRANTOR TRUST 1998-1 STATEMENT TO CERTIFICATEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 6,734,451.25 LOCK BOX NSF ITEMS: (63,409.80) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 2,753.10 COLLECTION ACCOUNT INTEREST 19,572.39 PAYAHEAD ACCOUNT INTEREST 323.85 TOTAL COLLECTION PROCEEDS: 6,693,690.79 FOR DISTRIBUTION DATE: 3/15/99 FOR DETERMINATION DATE: 3/8/99 FOR COLLECTION PERIOD: 2/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 145,346,675.48 Principal portion of payments collected (non-prepayments) 2,090,725.08 Prepayments in full allocable to principal 1,357,802.00 Collections allocable to principal 3,448,527.08 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 670,518.03 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 4,119,045.11 Realized Losses 1,565,563.33 Cram Down Losses 0.00 Ending Principal Balance 139,662,067.04 INTEREST Collections allocable to interest 2,423,179.48 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 151,466.20 --------------- Total Interest 2,574,645.68 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 138,079,342.03 Beginning of Period Class B Principal Balance 7,267,333.45 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 21,951,814.64 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 49,792.41 Aggregate Payahead Balance 26,634.79 Aggregate Payahead Balance for preceding Distribution Date 29,387.89 Interest Earned on Payahead Balances 323.85 Scheduled Payments due in Collection Period 4,536,865.80 Scheduled Payments collected in Collection Period 4,513,904.56 Aggregate Amount of Realized Losses for preceding Distribution Date 1,565,563.33 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 1,304.18 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 382 4,741,000.00 60+ days delinquent 403 5,048,000.00 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 9,789,000.00 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 1,302,899.63 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 7.35% Delinquency Ratio for third preceding Determination Date 6.70% Cumulative Defaults for preceding Determination Date 10,161,590.56 Cumulative Net Losses for preceding Determination Date 6,775,014.96 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) 5,871,706.56 Liquidation Proceeds 670,518.03 Recoveries 151,466.20 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 6,693,690.79 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 2,090,725.08 Prepayments in full allocable to principal 1,357,802.00 Principal Balance of Liquidated Receivables 2,236,081.36 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 5,684,608.44 Class A Principal Distributable Amount Principal Distributable Amount 5,684,608.44 Times Class A Percentage (95%) 95% --------------- 5,400,378.02 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 5,400,378.02 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 138,079,342.03 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 690,396.71 Class B Principal Distributable Amount Principal Distributable Amount 5,684,608.44 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 284,230.42 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 7,267,333.45 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 62,075.14 Class B Excess Interest Amount Total Distribution Amount 6,693,690.79 minus Class A Principal and Interest Distributable Amount 6,090,774.73 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 62,075.14 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 284,230.42 Class B Principal Carryover Shortfall 0.00 Trustee distributions 2,515.40 Standby Servicer distributions 3,028.06 Servicer distributions 292,036.87 Collateral Agent distributions 1,211.22 Reimbursement Obligations 45,331.98 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A Interest Carryover Shortfall from previous period 0.00 Interest on Class A Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(c) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 3,028.06 Servicing Fee (2.0%) 242,244.46 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 49,792.41 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 1,211.22 Trustee's out-of-pocket expenses 1,304.18 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 1,211.22 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 690,396.71 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 690,396.71 (viii)(A)Class B Coupon Interest - Unadjusted 62,075.14 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 62,075.14 (v)(B) Class A Principal Distributable Amount - Current Month 5,400,378.02 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 5,400,378.02 (vi) Certificate Insurer Premium 45,331.98 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 284,230.42 Class B Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class B Principal Shortfall (87,513.03) Adjusted Class B Principal Distributable Amount 196,717.39 (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 1994-2, 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 138,079,342.03 Class A Principal Distributions 5,400,378.02 Class A End of Period Principal Balance 132,678,964.01 Class B Beginning of Period Principal Balance 7,267,333.45 Class B Principal Distributable Amount 196,717.39 Class B End of Period Principal Balance BEFORE Spread Account Distributions 7,070,616.06 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 7,070,616.06 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 6,693,690.79 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 989,188.26 (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) 5,704,502.53 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 5,704,502.53 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 62,075.14 (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 Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 5,642,427.39 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 5,642,427.39 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 5,400,378.02 (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) 242,049.37 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 242,049.37 (vi) Certificate Insurer Premium 45,331.98 (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) 196,717.39 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 196,717.39 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 284,230.42 (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) (87,513.03) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (87,513.03) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 9,789,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 9,789,000.00 Aggregate Gross Principal Balance as of the close of 154,498,334.09 business on the last day of the Collection Period. DELINQUENCY RATIO 6.34% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 6.34% Delinquency Ratio for second preceding Determination Date 7.35% Delinquency Ratio for third preceding Determination Date 6.70% --------------- Average Delinquency Ratio 6.80% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 10,161,590.56 Current Period Defaulted Receivables 1,302,899.63 --------------- Total 11,464,490.19 Cumulative Defaulted Receivables 11,464,490.19 Original Pool Balance 186,954,818.61 Cumulative Default Ratio 6.13% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 2,236,081.36 Cram Down Losses 0.00 Net Liquidation Proceeds (821,984.23) --------------- Net Liquidation Losses 1,414,097.13 Cumulative Previous Net Losses 6,775,014.96 --------------- Cumulative Net Losses 8,189,112.09 Original Pool Balance 186,954,818.61 Cumulative Net Loss Ratio 4.38% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.10 Weighted Average Remaining Term 45.11 Weighted Average Annual Percentage Rate 20.31% SPREAD ACCOUNT Spread Account Cap 13.5% of Outstanding Certificate Balance 18,866,193.31 18.5% of Outstanding Certificate Balance 25,853,672.31 Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) --------------- Cap Amount 41,924,874.02 Spread Account Floor 3% of the Initial Certificate Balance 5,608,644.56 Outstanding Certificate Balance 139,749,580.07 Minimum Floor 100,000.00 --------------- Floor Amount 5,608,644.56 Required Spread Account Amount 41,924,874.02 Beginning of Period Spread Account Balance 21,951,814.64 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 15,529.49 Allocations of cash releases from previous pools 0.00 Required addition to/(eligible withdrawal from) Spread Account 19,957,529.89 Earnings on Spread Account Balance 92,475.71 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 22,059,819.84 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 3/15/99 Collection Period 2/99 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 $6,401,175.62 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $852,797.86 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $5,548,377.76 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $31.93 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $4.25 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $27.67 (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) $381,925.12 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $76,324.17 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $305,600.95 (j) Scheduled Payments due in such Collection Period $5,339,959.24 (k) Scheduled Payments collected in such Collection Period $5,170,628.44 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 $171,042,746.67 (c) The Aggregate Pool factor as of the close of business on the last day set forth above 0.8104667 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 $355,222.04 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,685.07 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.77 (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 $28,177.20 (b) Distributions (to) from Collection Account ($734.53) for Payaheads (c) Interest earned on Payahead Balances $261.01 (d) Ending Payahead Account Balance $27,703.68 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 $51,312,824.00 Spread Account Balance $20,903,266.99 (b) The change in the spread account on the Distribution Date set forth above $202,254.35 6 Policy. (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $55,517.63 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,546,594.66 (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 467 Aggregate Gross Amount $5,881,000.00 (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 441 Aggregate Gross Amount $5,706,000.00 8 Performance Triggers. (a) Delinquency Ratio 6.18% (b) Average Delinquency Ratio 6.61% (c) Cumulative Default Ratio 4.56% (d) Cumulative Net Loss Ratio 3.16% (e) Is a Portfolio Performance Test violation continuing? No (f) Has an Insurance Agreement Event of Default occurred? No(a)
CPS AUTO GRANTOR TRUST 1998-2 STATEMENT TO CERTIFICATEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 7,364,248.01 LOCK BOX NSF ITEMS: (72,678.14) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 734.53 COLLECTION ACCOUNT INTEREST 22,894.57 PAYAHEAD ACCOUNT INTEREST 261.01 TOTAL COLLECTION PROCEEDS: 7,315,459.98 FOR DISTRIBUTION DATE: 3/15/99 FOR DETERMINATION DATE: 3/8/99 FOR COLLECTION PERIOD: 2/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 176,883,144.87 Principal portion of payments collected (non-prepayments) 2,313,976.15 Prepayments in full allocable to principal 1,269,621.00 Collections allocable to principal 3,583,597.15 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 710,205.83 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 4,293,802.98 Realized Losses 1,546,594.66 Cram Down Losses 0.00 Ending Principal Balance 171,042,747.23 INTEREST Collections allocable to interest 2,856,652.29 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 165,004.71 --------------- Total Interest 3,021,657.00 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 168,038,987.59 Beginning of Period Class B Principal Balance 8,857,737.79 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 20,701,012.64 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 60,416.80 Aggregate Payahead Balance 27,442.67 Aggregate Payahead Balance for preceding Distribution Date 28,177.20 Interest Earned on Payahead Balances 261.01 Scheduled Payments due in Collection Period 5,339,959.24 Scheduled Payments collected in Collection Period 5,170,628.44 Aggregate Amount of Realized Losses for preceding Distribution Date 1,546,594.66 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 1,229.86 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 467 5,881,000.00 60+ days delinquent 441 5,706,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 0 0.00 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close 11,587,000.00 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 1,660,782.80 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 7.14% Delinquency Ratio for third preceding Determination Date 6.52% Cumulative Defaults for preceding Determination Date 7,961,631.19 Cumulative Net Losses for preceding Determination Date 5,292,820.62 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) 6,440,249.44 Liquidation Proceeds 710,205.83 Recoveries 165,004.71 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 7,315,459.98 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 2,313,976.15 Prepayments in full allocable to principal 1,269,621.00 Principal Balance of Liquidated Receivables 2,256,800.49 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 5,840,397.64 Class A Principal Distributable Amount Principal Distributable Amount 5,840,397.64 Times Class A Percentage (95%) 95% --------------- 5,548,377.76 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 5,548,377.76 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 168,038,987.59 Multiplied by Certificate Pass-Through Rate 6.09% Multiplied by 30/360 0.0833333 --------------- Class A Interest Distributable Amount 852,797.86 Class B Principal Distributable Amount Principal Distributable Amount 5,840,397.64 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 292,019.88 Class B Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 8,857,737.79 Multiplied by Certificate Pass-Through Rate 10.34% Multiplied by 30/360 0.0833333 --------------- Class B Coupon Interest Amount 76,324.17 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 13,581.07 --------------- 13,581.07 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 3,685.07 Servicing Fee (2.0%) 294,805.24 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 60,416.80 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 1,105.52 Trustee's out-of-pocket expenses 1,229.86 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 1,105.60 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 852,797.86 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 852,797.86 (vi) Class B Coupon Interest - Unadjusted 76,324.17 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 76,324.17 (vii) Class A Principal Distributable Amount - Current Month 5,548,377.76 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount 5,548,377.76 (viii) Certificate Insurer Premium 55,517.63 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 292,019.88 Class B Principal Carryover Shortfall - Previous Month(s) 13,581.07 Current Month Class B Principal Carryover Shortfall 0.00 Adjusted Class B Principal Distributable Amount 305,600.95 (xi) Remaining amounts to Collateral Agent for deposit in Spread Account 114,493.52 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 1994-2, 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 168,038,987.59 Class A Principal Distributions 5,548,377.76 Class A End of Period Principal Balance 162,490,609.83 Class B Beginning of Period Principal Balance 8,857,737.79 Class B Principal Distributable Amount 305,600.95 Class B End of Period Principal Balance BEFORE Spread Account Distributions 8,552,136.84 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 8,552,136.84 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 7,315,459.98 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 1,215,145.95 (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) 6,100,314.03 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 6,100,314.03 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 76,324.17 (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) 6,023,989.86 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 6,023,989.86 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 5,548,377.76 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 475,612.10 OTHER DEFICIENCIES - INSURANCE (i) Amounts available to make payments for insurance 475,612.10 Certificate Insurer Premium 55,517.63 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) 420,094.48 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 420,094.48 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 292,019.88 (iii)Prior month(s) carryover shortfalls 13,581.07 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Unadjusted Amount Remaining for Further Distribution/(Deficiency) 114,493.52 Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 114,493.52 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 11,587,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 11,587,000.00 Aggregate Gross Principal Balance as of the close of 187,357,029.21 business on the last day of the Collection Period. Delinquency Ratio 6.18% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 6.18% Delinquency Ratio for second preceding Determination Date 7.14% Delinquency Ratio for third preceding Determination Date 6.52% --------------- Average Delinquency Ratio 6.61% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 7,961,631.19 Current Period Defaulted Receivables 1,660,782.80 --------------- Total 9,622,413.99 Cumulative Defaulted Receivables 9,622,413.99 Original Pool Balance 211,042,290.56 Cumulative Default Ratio 4.56% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 2,256,800.49 Cram Down Losses 0.00 Net Liquidation Proceeds (875,210.54) --------------- Net Liquidation Losses 1,381,589.95 Cumulative Previous Net Losses 5,292,820.62 --------------- Cumulative Net Losses 6,674,410.57 Original Pool Balance 211,042,290.56 Cumulative Net Loss Ratio 3.16% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.46 Weighted Average Remaining Term 47.56 Weighted Average Annual Percentage Rate 20.39% SPREAD ACCOUNT Spread Account Cap 13.5% of Outstanding Certificate Balance 23,090,770.80 19.5% of Outstanding Certificate Balance 33,353,335.60 Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) --------------- Cap Amount 51,312,824.00 Spread Account Floor 3% of the Initial Certificate Balance 6,331,268.70 Outstanding Certificate Balance 171,042,746.67 Minimum Floor 100,000.00 --------------- Floor Amount 6,331,268.70 Required Spread Account Amount 51,312,824.00 Beginning of Period Spread Account Balance 20,701,012.64 Spread Account Deposit (Withdrawal) from Current Distributions 114,493.52 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 30,497,317.84 Earnings on Spread Account Balance 87,760.83 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 20,903,266.99 Reserve Fund Initial Class B Certificate Balance 10,552,114.40 Aggregate Pool Factor 0.8104667 Class B Principal % 5.00% Have both tests for Reserve Fund reduction been satisfied? (Y/N) N Requisite Amount If both tests for reduction have NOT been met, then 10% of Original Class B Outstanding Certificate Balance 1,055,211.40 otherwise 10% of Class B Outstanding Certificate Balance 885,213.68 or Cap Amount 1,055,211.40 Reserve Fund Floor Outstanding Class B Certificate Balance 8,552,136.84 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 3,640.14 Amount of Reserve Fund deposit (withdrawal) (3,640.14) 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 3/15/99 Collection Period 2/99 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 $0.00 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $0.00 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $0.00 (d) The amount of the distribution set forth in paragraph A.1. (a) above $0.00 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $0.00 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $0.00 (g) The aggregate amount of the distribution to Class A-2 Noteholders on the Distribution Date set forth above $7,418,784.47 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $430,535.78 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $6,988,248.69 (j) The amount of the distribution set forth in paragraph A.1. (g) above, per $1,000 $80.64 (k) The amount of the distribution set forth in paragraph A.1. (h) above, per $1,000 $4.68 (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 $211,574,310.11 (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 $188,783,364.73 (c) The Note Pool Factor as of the close of business on the last day set forth above 0.8922792 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 $412,766.81 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $4,407.80 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $11.47 (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 $205,280,731.16 Spread Account Balance $19,813,231.33 (b) The change in the spread account on the Distribution Date set forth above $83,642.46 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 $104,472.53 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,444,127.31 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 485 Aggregate Gross Amount $6,306,000.00 (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 243 Aggregate Gross Amount $3,303,000.00 7 Performance Triggers (a) Delinquency Ratio 4.29% (b) Average Delinquency Ratio 4.52% (c) Cumulative Default Ratio 2.88% (d) Cumulative Net Loss Ratio 2.91% (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: 8,557,961.78 LOCK BOX NSF ITEMS: (91,217.57) TOTAL COLLECTION PROCEEDS: 8,466,744.21 FOR DISTRIBUTION DATE: 3/15/99 FOR DETERMINATION DATE: 3/8/99 FOR COLLECTION PERIOD: 2/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 211,574,310.11 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 211,574,310.11 Principal portion of payments collected (non-prepayments) 2,661,663.29 Prepayments in full allocable to principal 1,385,347.00 Collections allocable to principal 4,047,010.29 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 802,441.35 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 4,849,451.64 Realized Losses 1,444,127.31 Cram Down Losses 0.00 Ending Principal Balance 205,280,731.16 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 3,385,324.03 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 231,968.54 --------------- Total Interest 3,617,292.57 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 0.00 Beginning of Period Class A-2 Principal Balance 88,239,613.42 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 19,729,588.87 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 60,142.96 Scheduled Payments due in Collection Period 6,239,417.21 Scheduled Payments collected in Collection Period 6,046,987.32 Aggregate Amount of Realized Losses for preceding Distribution Date 1,444,127.31 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 6,672.13 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 485 6,306,000.00 60 - 89 days delinquent 243 3,303,000.00 90 - 119 days delinquent 103 1,326,000.00 120+ days delinquent 39 485,000.00 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 9,609,000.00 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 1,650,169.31 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 4.98% Delinquency Ratio for third preceding Determination Date 4.30% Cumulative Defaults for preceding Determination Date 5,277,283.32 Cumulative Net Losses for preceding Determination Date 5,441,723.88 Does a Trigger Event Exist? N Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 7,432,334.32 Liquidation Proceeds 802,441.35 Recoveries 231,968.54 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 0.75 Investment earnings from Prefunding Account 0.00 Investment earnings from Interest Reserve Account N/A Investment earnings from Collection Account 25,962.65 --------------- TOTAL DISTRIBUTION AMOUNT 8,492,707.61 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 2,661,663.29 Prepayments in full allocable to principal 1,385,347.00 Principal Balance of Liquidated Receivables 2,246,568.66 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 6,293,578.95 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 205,280,731.16 --------------- 184,752,658.04 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 92.5% On Payment Date when Class A-2 Notes will be reduced to 0 45.1% --------------- 98.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 6,293,578.95 Times Class A Noteholders' Percentage 92.5% --------------- 5,821,560.53 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 5,821,560.53 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 0.00 Multiplied by the Note Rate 5.6375% Multiplied by actual/360, or for the first Distribution Date, by 18/360 0.0777778 --------------- Class A Interest Distributable Amount 0.00 Class A-2 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 88,239,613.42 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 430,535.78 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 8,492,707.61 minus Class A Principal and Interest Distributable Amount 6,795,154.27 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Trustee and Collateral Agent distributions 9,218.04 Standby Servicer distributions 4,407.80 Servicer distributions 412,766.81 Insurance and Reimbursement Obligations 104,472.53 --------------- 1,166,688.16 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 4,407.80 Servicing Fee (2.0%) 352,623.85 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 60,142.96 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 1,322.34 Indenture Trustee's out-of-pocket expenses 6,672.13 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 1,223.57 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 0.00 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 0.00 (B) Class A-2 Interest Distributable Amount - Current Month 430,535.78 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 430,535.78 (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 5,821,560.53 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Total Adjusted Distributable Amount 5,821,560.53 Class A Principal Distribution Amount to Class A-1 0.00 Class A Principal Distribution Amount to Class A-2 5,821,560.53 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 104,472.53 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 1,166,688.16 Amount to Class A-1 Noteholders 0.00 Amount to Class A-2 Noteholders 1,166,688.16 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 1994-2, 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 0.00 Class A-1 Principal Distributions 0.00 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 88,239,613.42 Class A-2 Principal Distributions 5,821,560.53 Class A-2 End of Period Principal Amount (prior to turbo) 82,418,052.89 Additional Principal Distribution 1,166,688.16 Class A-2 End of Period Principal Amount 81,251,364.73 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 8,492,707.61 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (i) and (v)A 426,392.65 (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) 8,066,314.96 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (v) B 8,066,314.96 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (v) B 430,535.78 (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) 7,635,779.18 CLASS A-3 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (vi) A 7,635,779.18 (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) 7,510,883.35 CLASS A-4 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (vi) and (x) 7,510,883.35 (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) 7,092,721.22 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a) (vii) 7,092,721.22 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (vii) 5,821,560.53 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 1,271,160.69 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.8(a) (viii) 1,271,160.69 (vi) Note Insurer Premium 104,472.53 (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) 1,166,688.16 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 9,609,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 9,609,000.00 Aggregate Gross Principal Balance as of the close of 224,178,879.81 business on the last day of the Collection Period. DELINQUENCY RATIO 4.29% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 4.29% Delinquency Ratio for second preceding Determination Date 4.98% Delinquency Ratio for third preceding Determination Date 4.30% ---------------- Average Delinquency Ratio 4.52% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 5,277,283.32 Current Period Defaulted Receivables 1,650,169.31 --------------- Total 6,927,452.63 Cumulative Defaulted Receivables 6,927,452.63 Original Pool Balance 240,339,160.19 Cumulative Default Ratio 2.88% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of 120+ Delinquent Losses: Principal Balance of Delinquent Accts > 120 days 485,000.00 Principal Balance of Delinquent Accts > 90 < 120 days 1,326,000.00 Estimated Loss % 50% --------------- Estimated Loss $'s 1,148,000.00 Calculation of Net Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 2,246,568.66 Cram Down Losses 0.00 Net Liquidation Proceeds (1,034,409.89) --------------- Net Losses 2,360,158.77 Cumulative Previous Net Losses 5,441,723.88 Less: Previous Month's Delinquency Loss Estimate (809,500.00) --------------- Cumulative Net Losses 6,992,382.65 Original Pool Balance 240,339,160.19 Cumulative Net Loss Ratio 2.91% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.60 Weighted Average Remaining Term 49.62 Weighted Average Annual Percentage Rate 20.43% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 205,280,731.16 minus the Securities Balance 188,783,364.73 --------------- 16,497,366.43 divided by the Aggregate Principal Balance 8.04% Floor OC Percent Aggregate Principal Balance 205,280,731.16 minus the Securities Balance 188,783,364.73 --------------- 16,497,366.43 divided by the initial Aggregate Principal Balance 240,339,160.19 --------------- 6.86% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 188,783,364.73 (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 205,280,731.16 --------------- 205,280,731.16 Requisite Amount 205,280,731.16 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 205,280,731.16 Beginning of Period Spread Account Balance 19,729,588.87 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 185,551,142.29 Earnings on Spread Account Balance 83,642.46 Amount of Spread Account deposit (withdrawal) 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 19,813,231.33 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 3/15/99 Collection Period 2/99 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 $3,876,476.57 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $101,628.22 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $3,774,848.35 (d) The amount of total the distribution set forth in paragraph A.1. (a) above, per $1,000 $119.28 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $3.13 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $116.15 (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 $2,423,549.41 (t) The amount of the distribution set forth in paragraph A.1. (s) above in respect of interest $459,814.27 (u) The amount of the distribution set forth in in paragraph A.1. (s) above in respect of principal $1,970,735.14 (v) The amount of the distribution set forth in paragraph A.1. (s) above, per $1,000 $24.24 (w) The amount of the distribution set forth in paragraph A.1. (t) above, per $1,000 $4.53 (x) The amount of the distribution set forth in paragraph A.1. (u) above, per $1,000 $19.71 (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 $296,871,305.62 (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 $291,125,722.13 (c) The Note Pool Factor as of the close of business on the last day set forth above 0.9806462 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 $567,727.46 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $6,184.82 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $17.47 (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 1 Aggregate Purchase Amount $20,191.00 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 $90,248,973.86 Spread Account Balance $17,965,772.18 (b) The change in the spread account on the Distribution Date set forth above $2,422,805.11 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 $343,337.87 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $397,215.37 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 509 Aggregate Gross Amount $6,772,000.00 (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 258 Aggregate Gross Amount $3,443,000.00 7 Performance Triggers. (a) Delinquency Ratio 3.26% (b) Average Delinquency Ratio 3.13% (c) Cumulative Default Ratio 0.99% (d) Cumulative Net Loss Ratio 0.62% (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: 10,538,910.38 LOCK BOX NSF ITEMS: (122,491.70) TOTAL COLLECTION PROCEEDS: 10,416,418.68 FOR DISTRIBUTION DATE: 3/15/99 FOR DETERMINATION DATE: 3/8/99 FOR COLLECTION PERIOD: 2/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 296,871,305.62 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 296,871,305.62 Principal portion of payments collected (non-prepayments) 3,649,408.47 Prepayments in full allocable to principal 1,418,230.00 Collections allocable to principal 5,067,638.47 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 260,538.65 Purchase Amounts allocable to principal 20,191.00 --------------- Total Principal 5,348,368.12 Realized Losses 397,215.37 Cram Down Losses 0.00 Ending Principal Balance 291,125,722.13 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 5,068,033.27 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 17.29 --------------- Total Interest 5,068,050.56 NOTE INFORMATION Beginning of Period Class A-1 Principal Balance 23,874,447.79 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 95,496,857.83 Beginning of Period Class A-5 Principal Balance 18,625,000.00 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 15,542,967.07 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 72,941.95 Scheduled Payments due in Collection Period 8,526,731.16 Scheduled Payments collected in Collection Period 8,717,441.74 Aggregate Amount of Realized Losses for preceding Distribution Date 397,215.37 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 861.51 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to 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 509 6,772,000.00 60 - 89 days delinquent 258 3,443,000.00 90 - 119 days delinquent 115 1,494,000.00 120+ days delinquent 36 509,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 1 20,191.00 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. 10,215,000.00 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. 20,191.00 Principal Balance of all Receivables that became Defaulted Receivables during the related Collection Period. 1,569,646.09 Delinquency Ratio for second preceding Determination Date 3.48% Delinquency Ratio for third preceding Determination Date 2.64% Cumulative Defaults for preceding Determination Date 1,509,318.01 Cumulative Net Losses for preceding Determination Date 830,420.16 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) 10,135,671.74 Liquidation Proceeds 260,538.65 Recoveries 17.29 Purchase Amounts 20,191.00 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 179.62 Investment earnings from Interest Reserve Account 1.17 Investment earnings from Collection Account 36,642.14 --------------- TOTAL DISTRIBUTION AMOUNT 10,453,241.61 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 3,649,408.47 Prepayments in full allocable to principal 1,418,230.00 Principal Balance of Liquidated Receivables 657,754.02 Purchase Amounts allocable to principal 20,191.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 5,745,583.49 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 5,745,583.49 Sequential Pay Noteholders Percentage 65.7% --------------- Sequential Pay Noteholders' Principal Distributable Amount 3,774,848.35 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 5,745,583.49 Class A-4 Noteholders Percentage 34.3% --------------- Class A-4 Noteholders' Principal Distributable Amount 1,970,735.14 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 23,874,447.79 Multiplied by the Note Rate 5.4730% Multiplied by actual/360, or for the first Distribution Date, by 11/360 0.0777778 --------------- Class A Interest Distributable Amount 101,628.22 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 95,496,857.83 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 452,814.27 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 10,453,241.61 minus Class A Principal and Interest Distributable Amount 7,154,624.94 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Trustee and Collateral Agent distributions 4,572.41 Standby Servicer distributions 6,184.82 Servicer distributions 567,727.46 Insurance and Reimbursement Obligations 343,337.87 --------------- 2,376,794.11 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 6,184.82 Backup Servicer Fee 6,500.00 Servicing Fee (2.0%) 494,785.51 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 72,941.95 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 1,855.45 Indenture Trustee's out-of-pocket expenses 861.51 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 1,855.45 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 101,628.22 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 101,628.22 (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 452,814.27 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 452,814.27 (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 3,774,848.35 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Total Adjusted Distributable Amount 3,774,848.35 Class A Principal Distribution Amount to Class A-1 3,774,848.35 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 1,970,735.14 Class A Principal Distribution Amount to Class A-5 0.00 (viii) Note Insurer Premium 121,302.38 Short-Term Reinsurance 41,202.16 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) 2,370,294.11
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 23,874,447.79 Class A-1 Principal Distributions 3,774,848.35 Class A-1 End of Period Principal Amount 20,099,599.44 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 95,496,857.83 Class A-4 Principal Distributable Amount 1,970,735.14 Class A-4 End of Period Principal Amount 93,526,122.69 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 291,125,722.13 CLASS A-1 DEFICIENCY - INTEREST (i) Total Distribution Amount Available 10,453,241.61 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(i) thru (v)A 686,612.91 (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) 9,766,628.70 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)B 9,766,628.70 (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) 9,392,691.20 CLASS A-3 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)C 9,392,691.20 (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) 9,003,447.45 CLASS A-4 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)D 9,003,447.45 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)D 452,814.27 (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) 8,550,633.18 CLASS A-5 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)E 8,550,633.18 (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) 8,459,215.47 SEQUENTIAL PAY NOTES DEFICIENCY - PRINCIPAL (A-1, A-2 & A-3) (i) Amounts available to make payments pursuant to Section 5.7(a)(vi) 8,459,215.47 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(vi) 3,774,848.35 (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) 4,684,367.12 CLASS A-4 DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.7(a)(vii) 4,684,367.12 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(vii) 1,970,735.14 (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) 2,713,631.98 CLASS A-5 DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.7(a)(vii) 2,713,631.98 (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) 2,713,631.98 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.7(a)(viii) 2,713,631.98 (vi) Note Insurer Premium 343,337.87 (v) Note Insurer Premium Supplement 0.00 Deficiency Amount 0.00 Withdrawal from Spread Account to Cover Deficiency 0.00 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,370,294.11 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 10,215,000.00 Purchased receivables more than 30 days delinquent 20,191.00 --------------- Total 10,235,191.00 Aggregate Gross Principal Balance as of the close of business on the last day of the Collection Period. 314,276,304.59 DELINQUENCY RATIO 3.26% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 3.26% Delinquency Ratio for second preceding Determination Date 3.48% Delinquency Ratio for third preceding Determination Date 2.64% --------------- Average Delinquency Ratio 3.13% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 1,509,318.01 Current Period Defaulted Receivables 1,569,646.09 --------------- Total 3,078,964.10 Cumulative Defaulted Receivables 3,078,964.10 Original Pool Balance 275,647,271.04 Add: Subsequent Receivables 34,352,728.96 --------------- Total Original Balance 310,000,000.00 Cumulative Default Ratio 0.99% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of 120+ Delinquent Losses: Principal Balance of Delinquent Accts > 120 days 509,000.00 Principal Balance of Delinquent Accts >90 <120 days 1,494,000.00 Estimated Loss % 50% ---------------- Estimated Loss $'s 1,256,000.00 Calculation of Net Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 657,754.02 Cram Down Losses 0.00 Net Liquidation Proceeds (260,555.94) --------------- Net Losses 1,653,198.08 Cumulative Previous Net Losses 830,420.16 Less: Previous Month's Delinquency Loss Estimate (573,000.00) --------------- Cumulative Net Losses 1,910,618.24 Original Pool Balance 310,000,000.00 Cumulative Net Loss Ratio 0.62% 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 1994-2, 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 52.27 Weighted Average Annual Percentage Rate 20.25% SPREAD ACCOUNT Spread Account Cap Current Spread Account % 5.3% 21.0% of Outstanding Notes Balance if no Trigger Event 61,136,401.65 26.0% of Outstanding Notes Balance if a Trigger Event Exists 75,692,687.75 31.0% of Outstanding Notes Balance if an Insurance Event of Default 90,248,973.86 Is a Trigger Event continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) N(a) Requisite Amount 90,248,973.86 Spread Account Floor 2.5% of the Initial Certificate Balance 7,750,000.00 Outstanding Certificate Balance 291,125,722.13 Minimum Floor 100,000.00 --------------- Floor Amount 7,750,000.00 Required Spread Account Amount 90,248,973.86 Beginning of Period Spread Account Balance 15,542,967.07 Additional Deposit for Subsequent Receivables Transfer 0.00 Spread Account Deposit (Withdrawal) from Current Distributions 2,370,294.11 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 72,335,712.68 Earnings on Spread Account Balance 52,511.00 Amount of Spread Account deposit (withdrawal) 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 17,965,772.18