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) May 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 20.35 Monthly Servicing Report for the April 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: May 31, 1999 By: /s/ Jeffrey P. Fritz Name: Jeffrey P. Fritz Title: Chief Financial Officer INDEX TO EXHIBITS Exhibit Sequential No. Document Description Page No. 20.35 Monthly Servicing Report for the April 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 5/17/99 Collection Period 4/99 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 $1,567,074.39 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $114,159.46 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,452,914.93 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $18.55 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $1.35 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $17.20 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $64,399.37 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $9,035.18 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $55,364.19 (j) Scheduled Payments due in such Collection Period $1,168,775.64 (k) Scheduled Payments collected in such Collection Period $1,123,705.90 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 $21,684,424.18 (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 $20,176,145.03 (c) The Pool factor as of the close of business on the last day set forth above 0.9304441 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 $52,604.05 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $1,445.63 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.62 (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 $21,678.78 (b) Distributions (to) from Collection Account ($1,957.61) for Payaheads (c) Interest earned on Payahead Balances $65.70 (d) Ending Payahead Account Balance $19,786.87 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 $19,147,288.03 Spread Account Balance $5,923,455.08 (b) The change in the spread account on the Distribution Date set forth above $48,317.85 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 $21,540.70 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $222,244.23 (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 57 Aggregate Gross Amount $321,000.00 (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 66 Aggregate Gross Amount $527,000.00 8 Performance Triggers. (a) Delinquency Ratio 3.87% (b) Average Delinquency Ratio 5.29% (c) Cumulative Default Ratio 19.31% (d) Cumulative Net Loss Ratio 14.46% (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: 1,717,811.37 LOCK BOX NSF ITEMS: (17,969.14) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 1,957.61 COLLECTION ACCOUNT INTEREST 6,171.13 PAYAHEAD ACCOUNT INTEREST 65.70 TOTAL COLLECTION PROCEEDS: 1,708,036.67 FOR DISTRIBUTION DATE: 5/17/99 FOR DETERMINATION DATE: 5/10/99 FOR COLLECTION PERIOD: 4/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 21,684,424.18 Principal portion of payments collected (non-prepayments) 794,023.58 Prepayments in full allocable to principal 440,511.00 Collections allocable to principal 1,234,534.58 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 72,605.33 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,307,139.91 Realized Losses 222,244.23 Cram Down Losses 0.00 Ending Principal Balance 20,155,040.04 INTEREST Collections allocable to interest 329,682.32 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 71,214.44 --------------- Total Interest 400,896.76 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 20,600,202.96 Beginning of Period Class B Principal Balance 1,084,221.19 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 5,875,137.23 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 16,463.34 Aggregate Payahead Balance 19,721.17 Aggregate Payahead Balance for preceding Distribution Date 21,678.78 Interest Earned on Payahead Balances 65.70 Scheduled Payments due in Collection Period 1,168,775.64 Scheduled Payments collected in Collection Period 1,123,705.90 Aggregate Amount of Realized Losses for preceding Distribution Date 222,244.23 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 430.41 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 57 321,000.00 60+ days delinquent 66 527,000.00 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 848,000.00 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 228,236.43 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 5.06% Delinquency Ratio for third preceding Determination Date 6.94% Cumulative Defaults for preceding Determination Date 16,941,887.08 Cumulative Net Losses for preceding Determination Date 12,700,565.99 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 1,564,216.90 Liquidation Proceeds 72,605.33 Recoveries 71,214.44 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 1,708,036.67 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 794,023.58 Prepayments in full allocable to principal 440,511.00 Principal Balance of Liquidated Receivables 294,849.56 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 1,529,384.14 Class A Principal Distributable Amount Principal Distributable Amount 1,529,384.14 Times Class A Percentage (95%) 95% --------------- 1,452,914.93 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,452,914.93 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 20,600,202.96 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 114,159.46 Class B Principal Distributable Amount Principal Distributable Amount 1,529,384.14 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 76,469.21 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 1,084,221.19 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 9,035.18 Class B Excess Interest Amount Total Distribution Amount 1,708,036.67 minus Class A Principal and Interest Distributable Amount 1,567,074.39 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 9,035.18 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 76,469.21 Class B Principal Carryover Shortfall 0.00 Trustee distributions 701.47 Standby Servicer distributions 1,445.63 Servicer distributions 52,604.05 Collateral Agent distributions 271.06 Reimbursement Obligations 21,540.70 --------------- 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 1,445.63 Servicing Fee (2.0%) 36,140.71 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 16,463.34 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 271.06 Trustee's out-of-pocket expenses 430.41 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 271.06 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 114,159.46 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 114,159.46 (viii)(A) Class B Coupon Interest - Unadjusted 9,035.18 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 9,035.18 (v)(B) Class A Principal Distributable Amount - Current Month 1,452,914.93 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount 1,452,914.93 (vi) Certificate Insurer Premium 5,584.63 Certificate Insurer Premium Supplement 15,956.07 Other Reimbursement Obligations to Certificate Insurer 0.00 (vii) Transition Expenses to successor Servicer 0.00 (B) Class B Principal Distributable Amount - Current Month Unadjusted 76,469.21 Class B Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class B Principal Shortfall (21,105.02) Adjusted Class B Principal Distributable Amount 55,364.19 (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 20,600,202.96 Class A Principal Distributions 1,452,914.93 Class A End of Period Principal Balance 19,147,288.03 Class B Beginning of Period Principal Balance 1,084,221.19 Class B Principal Distributable Amount 55,364.19 Class B End of Period Principal Balance BEFORE Spread Account Distributions 1,028,857.00 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 1,028,857.00 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 1,708,036.67 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 169,181.67 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 1,538,855.00 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 1,538,855.00 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 9,035.18 (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) 1,529,819.82 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 1,529,819.82 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,452,914.93 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 76,904.89 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 76,904.89 (vi) Certificate Insurer Premium 5,584.63 (v) Certificate Insurer Premium Supplement 15,956.07 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) 55,364.19 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 55,364.19 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 76,469.21 (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) (21,105.02) Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (21,105.02) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 848,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 848,000.00 Aggregate Gross Principal Balance as of the close of 21,924,805.70 business on the last day of the Collection Period. DELINQUENCY RATIO 3.87% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 3.87% Delinquency Ratio for second preceding Determination Date 5.06% Delinquency Ratio for third preceding Determination Date 6.94% --------------- Average Delinquency Ratio 5.29% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 16,941,887.08 Current Period Defaulted Receivables 228,236.43 --------------- Total 17,170,123.51 Cumulative Defaulted Receivables 17,170,123.51 Original Pool Balance 88,900,750.37 Cumulative Default Ratio 19.31% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 284,849.56 Cram Down Losses 0.00 Net Liquidation Proceeds (143,819.77) --------------- Net Liquidation Losses 151,029.79 Cumulative Previous Net Losses 12,700,565.99 --------------- Cumulative Net Losses 12,681,595.78 Original Pool Balance 88,900,750.37 Cumulative Net Loss Ratio 14.46% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 54.67 Weighted Average Remaining Term 22.69 Weighted Average Annual Percentage Rate 20.26% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 2,017,614.50 15% of Outstanding Certificate Balance 3,026,421.75 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 19,147,288.03 Spread Account Floor 3% of the Initial Certificate Balance 2,667,022.51 Outstanding Certificate Balance 20,176,145.03 Minimum Floor 100,000.00 --------------- Floor Amount 2,667,022.51 Required Spread Account Amount 19,147,288.03 Beginning of Period Spread Account Balance 5,875,137.23 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 24,115.30 Required addition to/(eligible withdrawal from) Spread Account 13,248,035.50 Earnings on Spread Account Balance 24,202.55 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 5,923,455.08 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1996-2 6.70% ASSET-BACKED CERTIFICATES Distribution Date 5/17/99 Collection Period 4/99 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 $1,780,259.67 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $149,277.54 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,630,982.13 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $20.34 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $1.71 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $18.63 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $92,057.19 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $16,254.64 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $75,802.55 (j) Scheduled Payments due in such Collection Period $1,336,109.02 (k) Scheduled Payments collected in such Collection Period $1,335,995.14 B. Information Regarding the Performance of the Trust. 1 Pool Balance and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $28,143,449.10 (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 $26,755,648.39 (c) The Pool factor as of the close of business on the last day set forth above 0.9506883 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 $64,974.22 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $1,876.23 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.74 (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 $26,456.42 (b) Distributions (to) from Collection Account ($6,677.38) for Payaheads (c) Interest earned on Payahead Balances $85.01 (d) Ending Payahead Account Balance $19,864.05 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 $25,105,294.48 Spread Account Balance $4,840,028.87 (b) The change in the spread account on the Distribution Date set forth above $56,761.58 6 Policy. (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $28,243.46 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $350,828.58 (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 77 Aggregate Gross Amount $632,000.00 (d) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent 60 days or more Number 71 Aggregate Gross Amount $653,000.00 8 Performance Triggers. (a) Delinquency Ratio 4.41% (b) Average Delinquency Ratio 5.55% (c) Cumulative Default Ratio 18.87% (d) Cumulative Net Loss Ratio 14.28% (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: 1,974,276.36 LOCK BOX NSF ITEMS: (19,213.80) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 6,677.38 COLLECTION ACCOUNT INTEREST 6,573.90 PAYAHEAD ACCOUNT INTEREST 85.01 TOTAL COLLECTION PROCEEDS: 1,968,398.85 FOR DISTRIBUTION DATE: 5/17/99 FOR DETERMINATION DATE: 5/10/99 FOR COLLECTION PERIOD: 4/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 28,143,449.10 Principal portion of payments collected (non-prepayments) 815,480.91 Prepayments in full allocable to principal 455,929.00 Collections allocable to principal 1,271,409.91 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 94,584.81 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,365,994.72 Realized Losses 350,828.58 Cram Down Losses 0.00 Ending Principal Balance 26,426,625.80 INTEREST Collections allocable to interest 520,514.23 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 81,889.90 --------------- Total Interest 602,404.13 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 26,736,276.61 Beginning of Period Class B Principal Balance 1,726,156.46 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 4,783,267.29 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 18,068.47 Aggregate Payahead Balance 19,779.04 Aggregate Payahead Balance for preceding Distribution Date 26,456.42 Interest Earned on Payahead Balances 85.01 Scheduled Payments due in Collection Period 1,336,109.02 Scheduled Payments collected in Collection Period 1,335,995.14 Aggregate Amount of Realized Losses for preceding Distribution Date 350,828.58 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 280.51 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Certificate Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 77 632,000.00 60+ days delinquent 71 653,000.00 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 1,285,000.00 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 256,091.70 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 5.12% Delinquency Ratio for third preceding Determination Date 7.13% Cumulative Defaults for preceding Determination Date 17,130,245.41 Cumulative Net Losses for preceding Determination Date 12,885,424.85 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 1,791,924.14 Liquidation Proceeds 94,584.81 Recoveries 81,889.90 Purchase Amounts 0.00 Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 0.00 Investment earnings from Payahead Account 0.00 --------------- TOTAL DISTRIBUTION AMOUNT 1,968,398.85 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 815,480.91 Prepayments in full allocable to principal 455,929.00 Principal Balance of Liquidated Receivables 445,413.39 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 1,716,823.30 Class A Principal Distributable Amount Principal Distributable Amount 1,716,823.30 Times Class A Percentage (95%) 95% --------------- 1,630,982.13 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,630,982.13 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 26,736,276.61 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 149,277.54 Class B Principal Distributable Amount Principal Distributable Amount 1,716,823.30 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 85,841.16 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 1,726,156.46 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 16,254.64 Class B Excess Interest Amount Total Distribution Amount 1,968,398.85 minus Class A Principal and Interest Distributable Amount 1,780,259.67 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 16,254.64 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 85,841.16 Class B Principal Carryover Shortfall 318,983.99 Trustee distributions 632.30 Standby Servicer distributions 1,876.23 Servicer distributions 64,974.22 Collateral Agent distributions 355.78 Reimbursement Obligations 28,243.46 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 318,983.99 --------------- 318,983.99 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 1,876.23 Servicing Fee (2.0%) 46,905.75 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 18,068.47 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 351.79 Trustee's out-of-pocket expenses 280.51 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 355.78 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 149,277.54 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 149,277.54 (viii)(A) Class B Coupon Interest - Unadjusted 16,254.64 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 16,254.64 (v)(B) Class A Principal Distributable Amount - Current Month 1,630,982.13 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 1,630,982.13 (vi) Certificate Insurer Premium 7,322.38 Certificate Insurer Premium Supplement 20,921.08 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 85,841.16 Class B Principal Carryover Shortfall - Previous Month(s) 318,983.99 Current Month Class B Principal Shortfall (329,022.60) Adjusted Class B Principal Distributable Amount 75,802.55 (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 26,736,276.61 Class A Principal Distributions 1,630,982.13 Class A End of Period Principal Balance 25,105,294.48 Class B Beginning of Period Principal Balance 1,726,156.46 Class B Principal Distributable Amount 75,802.55 Class B End of Period Principal Balance BEFORE Spread Account Distributions 1,650,353.91 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 1,650,353.91 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 1,968,398.85 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 217,116.07 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 1,751,282.78 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 1,751,282.78 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 16,254.64 (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) 1,735,028.14 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 1,735,028.14 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,680,982.13 (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) 104,046.01 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 104,046.01 (vi) Certificate Insurer Premium 7,322.38 (v) Certificate Insurer Premium Supplement 20,921.08 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) 75,802.55 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 75,802.55 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 85,841.16 (iii)Prior month(s) carryover shortfalls 318,983.99 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (329,022.60) Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (329,022.60) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 1,285,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 1,285,000.00 Aggregate Gross Principal Balance as of the close of 29,153,981.15 business on the last day of the Collection Period. DELINQUENCY RATIO 4.41% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 4.41% Delinquency Ratio for second preceding Determination Date 5.12% Delinquency Ratio for third preceding Determination Date 7.13% --------------- Average Delinquency Ratio 5.55% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 17,130,245.41 Current Period Defaulted Receivables 256,091.70 --------------- Total 17,386,337.11 Cumulative Defaulted Receivables 17,386,337.11 Original Pool Balance 92,129,299.54 Cumulative Default Ratio 18.87% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 445,413.39 Cram Down Losses 0.00 Net Liquidation Proceeds (176,474.71) --------------- Net Liquidation Losses 268,938.68 Cumulative Previous Net Losses 12,885,424.85 --------------- Cumulative Net Losses 13,154,363.53 Original Pool Balance 92,129,299.54 Cumulative Net Loss Ratio 14.28% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 55.54 Weighted Average Remaining Term 26.17 Weighted Average Annual Percentage Rate 20.43% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 2,675,564.84 15% of Outstanding Certificate Balance 4,013,347.26 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 25,105,294.48 Spread Account Floor 3% of the Initial Certificate Balance 2,763,878.99 Outstanding Certificate Balance 26,755,648.39 Minimum Floor 100,000.00 --------------- Floor Amount 2,763,878.99 Required Spread Account Amount 25,105,294.48 Beginning of Period Spread Account Balance 4,783,267.29 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 36,956.23 Required addition to/(eligible withdrawal from) Spread Account 20,285,070.96 Earnings on Spread Account Balance 19,805.35 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 4,840,028.87 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1996-3 6.30% ASSET-BACKED CERTIFICATES Distribution Date 5/17/99 Collection Period 4/99 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 $2,080,383.00 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $170,667.86 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,909,715.14 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $23.58 (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 $21.65 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $84,040.11 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $18,425.97 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $65,614.14 (j) Scheduled Payments due in such Collection Period $1,474,794.51 (k) Scheduled Payments collected in such Collection Period $1,369,786.81 B. Information Regarding the Performance of the Trust. 1 Pool Balance and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $34,219,119.99 (b) The aggregate balance of the Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c) above $32,711,274.57 (c) The Pool factor as of the close of business on the last day set forth above 0.9559356 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 $76,648.88 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,281.27 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.87 (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 $24,714.88 (b) Distributions (to) from Collection Account ($249.56) for Payaheads (c) Interest earned on Payahead Balances $75.85 (d) Ending Payahead Account Balance $24,541.17 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 $9,179,534.65 Spread Account Balance $6,008,979.17 (b) The change in the spread account on the Distribution Date set forth above $30,879.18 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 $34,423.25 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $398,047.45 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 82 Aggregate Gross Amount $761,000.00 (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 86 Aggregate Gross Amount $901,000.00 8 Performance Triggers. (a) Delinquency Ratio 4.62% (b) Average Delinquency Ratio 5.48% (c) Cumulative Default Ratio 17.45% (d) Cumulative Net Loss Ratio 14.06% (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: 2,300,026.61 LOCK BOX NSF ITEMS: (28,848.52) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 249.56 COLLECTION ACCOUNT INTEREST 7,486.59 PAYAHEAD ACCOUNT INTEREST 75.85 TOTAL COLLECTION PROCEEDS: 2,278,990.09 FOR DISTRIBUTION DATE: 5/17/99 FOR DETERMINATION DATE: 5/10/99 FOR COLLECTION PERIOD: 4/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 34,219,119.99 Principal portion of payments collected (non-prepayments) 838,541.14 Prepayments in full allocable to principal 608,475.00 Collections allocable to principal 1,447,016.14 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 165,162.87 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,612,179.01 Realized Losses 398,047.45 Cram Down Losses 0.00 Ending Principal Balance 32,208,893.53 INTEREST Collections allocable to interest 531,245.67 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 135,565.41 --------------- Total Interest 666,811.08 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 32,508,163.96 Beginning of Period Class B Principal Balance 2,178,439.89 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 5,978,099.99 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 19,617.01 Aggregate Payahead Balance 24,465.32 Aggregate Payahead Balance for preceding Distribution Date 24,714.88 Interest Earned on Payahead Balances 75.85 Scheduled Payments due in Collection Period 1,474,794.51 Scheduled Payments collected in Collection Period 1,369,786.81 Aggregate Amount of Realized Losses for preceding Distribution Date 398,047.45 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 352.26 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 82 761,000.00 60+ days delinquent 86 901,000.00 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 1,662,000.00 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 344,993.13 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 4.89% Delinquency Ratio for third preceding Determination Date 6.92% Cumulative Defaults for preceding Determination Date 15,854,270.88 Cumulative Net Losses for preceding Determination Date 12,789,536.00 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 1,978,261.81 Liquidation Proceeds 165,162.87 Recoveries 135,565.41 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 2,278,990.09 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 838,541.14 Prepayments in full allocable to principal 608,475.00 Principal Balance of Liquidated Receivables 563,210.32 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,010,226.46 Class A Principal Distributable Amount Principal Distributable Amount 2,010,226.46 Times Class A Percentage (95%) 95% --------------- 1,909,715.14 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,909,715.14 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 32,508,163.96 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 170,667.86 Class B Principal Distributable Amount Principal Distributable Amount 2,010,226.46 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 100,511.32 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 2,178,439.89 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 18,425.97 Class B Excess Interest Amount Total Distribution Amount 2,278,990.09 minus Class A Principal and Interest Distributable Amount 2,080,383.00 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 18,425.97 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 100,511.32 Class B Principal Carryover Shortfall 467,483.88 Trustee distributions 780.00 Standby Servicer distributions 2,281.27 Servicer distributions 76,648.88 Collateral Agent distributions 433.58 Reimbursement Obligations 34,423.25 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 467,483.88 --------------- 467,483.88 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A 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 2,281.27 Servicing Fee (2.0%) 57,031.87 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 19,617.01 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 427.74 Trustee's out-of-pocket expenses 352.26 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 433.58 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 170,667.86 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 170,667.86 (viii)(A) Class B Coupon Interest - Unadjusted 18,425.97 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 18,425.97 (v)(B) Class A Principal Distributable Amount - Current Month 1,909,715.14 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 1,909,715.14 (vi) Certificate Insurer Premium 8,924.55 Certificate Insurer Premium Supplement 25,498.71 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 100,511.32 Class B Principal Carryover Shortfall - Previous Month(s) 467,483.88 Current Month Class B Principal Shortfall (502,381.06) Adjusted Class B Principal Distributable Amount 65,614.14 (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 32,508,163.96 Class A Principal Distributions 1,909,715.14 Class A End of Period Principal Balance 30,598,448.82 Class B Beginning of Period Principal Balance 2,178,439.89 Class B Principal Distributable Amount 65,614.14 Class B End of Period Principal Balance BEFORE Spread Account Distributions 2,112,825.75 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 2,112,825.75 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,278,990.09 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 250,811.59 (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) 2,028,178.50 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 2,028,178.50 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 18,425.97 (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) 2,009,752.53 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 2,009,752.53 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,909,715.14 (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) 100,037.39 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 100,037.39 (vi) Certificate Insurer Premium 8,924.55 (v) Certificate Insurer Premium Supplement 25,498.71 Deficiency Amount 0.00 Withdrawal from Spread Account to Cover Deficiency 0.00 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 65,614.14 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 65,614.14 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 100,511.32 (iii)Prior month(s) carryover shortfalls 467,483.88 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (502,381.06) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (502,381.06) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 1,662,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 1,662,000.00 Aggregate Gross Principal Balance as of the close of 35,962,304.39 business on the last day of the Collection Period. DELINQUENCY RATIO 4.62% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 4.62% Delinquency Ratio for second preceding Determination Date 4.89% Delinquency Ratio for third preceding Determination Date 6.92% --------------- Average Delinquency Ratio 5.48% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 15,854,270.88 Current Period Defaulted Receivables 344,993.13 --------------- Total 16,199,264.01 Cumulative Defaulted Receivables 16,199,264.01 Original Pool Balance 92,857,811.12 Cumulative Default Ratio 17.45% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 563,210.32 Cram Down Losses 0.00 Net Liquidation Proceeds (300,728.28) --------------- Net Liquidation Losses 262,482.04 Cumulative Previous Net Losses 12,789,536.00 --------------- Cumulative Net Losses 13,052,018.04 Original Pool Balance 92,857,811.12 Cumulative Net Loss Ratio 14.06% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.03 Weighted Average Remaining Term 29.20 Weighted Average Annual Percentage Rate 20.46% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 3,271,127.46 15% of Outstanding Certificate Balance 4,906,691.19 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 9,179,534.65 Spread Account Floor 3% of the Initial Certificate Balance 2,785,734.33 Outstanding Certificate Balance 32,711,274.57 Minimum Floor 100,000.00 --------------- Floor Amount 2,785,734.33 Required Spread Account Amount 9,179,534.65 Beginning of Period Spread Account Balance 5,978,099.99 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 5,781.90 Required addition to/(eligible withdrawal from) Spread Account 3,195,652.76 Earnings on Spread Account Balance 25,097.28 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 6,008,979.17 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1997-1 6.55% ASSET-BACKED CERTIFICATES Distribution Date 5/17/99 Collection Period 4/99 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 $2,429,369.73 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $223,130.82 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,206,238.91 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $24.99 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $2.30 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $22.70 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $110,576.22 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $27,930.04 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $82,646.18 (j) Scheduled Payments due in such Collection Period $1,722,762.31 (k) Scheduled Payments collected in such Collection Period $1,671,690.48 B. Information Regarding the Performance of the Trust. 1 Pool Balance and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $43,030,451.14 (b) The aggregate balance of the Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c) above $41,464,490.41 (c) The Pool factor as of the close of business on the last day set forth above 0.9636081 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 $89,376.27 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,868.70 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.92 (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 $28,309.00 (b) Distributions (to) from Collection Account $1,245.70 for Payaheads (c) Interest earned on Payahead Balances $272.93 (d) Ending Payahead Account Balance $29,827.63 5 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $11,601,806.90 Spread Account Balance $7,189,465.48 (b) The change in the spread account on the Distribution Date set forth above $38,071.36 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 $43,506.78 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $509,282.07 (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 110 Aggregate Gross Amount $1,113,000.00 (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 90 Aggregate Gross Amount $1,025,000.00 8 Performance Triggers. (a) Delinquency Ratio 4.69% (b) Average Delinquency Ratio 5.88% (c) Cumulative Default Ratio 17.70% (d) Cumulative Net Loss Ratio 13.89% (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: 2,691,270.78 Lock Box NSF Items: (21,948.66) Transfers from (to) Payahead Account: (1,245.70) Collection Account Interest 8,854.52 Payahead Account Interest 272.93 Total Collection Proceeds: 2,677,203.87 For Distribution Date: 5/17/99 For Determination Date: 5/10/99 For Collection Period: 4/99 COLLATERAL ACTIVITY INFORMATION Principal Beginning Principal Balance 43,030,451.14 Principal portion of payments collected (non-prepayments) 917,714.16 Prepayments in full allocable to principal 676,721.00 Collections allocable to principal 1,594,435.16 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 218,639.52 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,813,074.68 Realized Losses 509,282.07 Cram Down Losses 0.00 Ending Principal Balance 40,708,094.39 INTEREST Collections allocable to interest 753,976.32 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 110,152.87 --------------- Total Interest 864,129.19 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 40,878,928.58 Beginning of Period Class B Principal Balance 2,874,446.93 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 7,151,394.12 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 17,658.85 Aggregate Payahead Balance 29,554.70 Aggregate Payahead Balance for preceding Distribution Date 28,309.00 Interest Earned on Payahead Balances 272.93 Scheduled Payments due in Collection Period 1,722,762.31 Scheduled Payments collected in Collection Period 1,671,690.48 Aggregate Amount of Realized Losses for preceding Distribution Date 509,282.07 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 421.37 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 110 1,113,000.00 60+ days delinquent 90 1,025,000.00 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. 2,138,000.00 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. 405,962.35 Delinquency Ratio for second preceding Determination Date 5.22% Delinquency Ratio for third preceding Determination Date 7.73% Cumulative Defaults for preceding Determination Date 17,709,674.83 Cumulative Net Losses for preceding Determination Date 13,818,242.34 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 2,348,411.48 Liquidation Proceeds 218,639.52 Recoveries 110,152.87 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 2,677,203.87 DISTRIBUTABLE AMOUNT PRINCIPAL DISTRIBUTABLE AMOUNT Principal portion of payments collected (non-prepayments) 917,714.16 Prepayments in full allocable to principal 676,721.00 Principal Balance of Liquidated Receivables 727,921.59 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,322,356.76 CLASS A PRINCIPAL DISTRIBUTABLE AMOUNT Principal Distributable Amount 2,322,356.75 Times Class A Percentage (95%) 95% --------------- 2,206,238.91 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,206,238.91 CLASS A INTEREST DISTRIBUTABLE AMOUNT Beginning of Period Principal Balance of the Certificates 40,878,928.58 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 223,130.82 CLASS B PRINCIPAL DISTRIBUTABLE AMOUNT Principal Distributable Amount 2,322,356.75 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 116,117.84 CLASS B COUPON INTEREST AMOUNT Beginning of Period Principal Balance of the Certificates 2,874,446.93 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 27,930.04 CLASS B EXCESS INTEREST AMOUNT Total Distribution Amount 2,677,203.87 minus Class A Principal and Interest Distributable Amount 2,429,369.73 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 27,930.04 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 116,117.84 Class B Principal Carryover Shortfall 722,924.37 Trustee distributions 959.25 Standby Servicer distributions 2,868.70 Servicer distributions 89,376.27 Collateral Agent distributions 546.92 Reimbursement Obligations 43,506.78 --------------- 0.00 Carryover Shortfalls from Prior Periods Class B Principal Carryover Shortfall from previous period 722,924.37 --------------- 722,924.37 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 2,868.70 Servicing Fee (2.0%) 71,717.42 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 17,658.85 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 537.88 Trustee's out-of-pocket expenses 421.37 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 546.92 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 223,130.82 Prior Month(s) Class A Carryover Shortfall 0.00 Class A Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A Interest Carryover Shortfall 0.00 Class A Interest Distributable Amount 223,130.82 (viii)(A) Class B Coupon Interest - Unadjusted 27,930.04 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 27,930.04 (v)(B) Class A Principal Distributable Amount - Current Month 2,206,238.91 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount 2,206,238.91 (vi) Certificate Insurer Premium 11,279.53 Certificate Insurer Premium Supplement 32,227.24 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 116,117.84 Class B Principal Carryover Shortfall - Previous Month(s) 722,924.37 Current Month Class B Principal Shortfall (756,396.02) Adjusted Class B Principal Distributable Amount 82,646.18 (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 40,878,928.58 Class A Principal Distributions 2,206,238.91 Class A End of Period Principal Balance 38,672,689.67 Class B Beginning of Period Principal Balance 2,874,446.93 Class B Principal Distributable Amount 82,646.18 Class B End of Period Principal Balance BEFORE Spread Account Distributions 2,791,800.75 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 2,791,800.75 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,677,203.87 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 316,881.96 (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) 2,360,321.91 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 2,360,321.91 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 27,930.04 (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) 2,332,391.87 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,332,391.87 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,206,238.91 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 126,152.96 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 126,152.96 (vi) Certificate Insurer Premium 11,279.53 (v) Certificate Insurer Premium Supplement 32,227.24 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) 82,646.18 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 82,646.18 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 116,117.84 (iii)Prior month(s) carryover shortfalls 722,924.37 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (756,396.02) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (756,396.02) CALCULATIONS PERFORMANCE MEASURES CALCULATION OF DELINQUENCY RATIO (CURRENT PERIOD) DELINQUENCY AMOUNT Receivables more than 30 days delinquent 2,138,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 2,138,000.00 Aggregate Gross Principal Balance as of the close of 45,557,910.46 business on the last day of the Collection Period. DELINQUENCY RATIO 4.69% CALCULATION OF AVERAGE DELINQUENCY RATIO Delinquency Ratio for most recent Determination Date 4.69% Delinquency Ratio for second preceding Determination Date 5.22% Delinquency Ratio for third preceding Determination Date 7.73% --------------- AVERAGE DELINQUENCY RATIO 5.88% CALCULATION OF CUMULATIVE DEFAULT RATIO DEFAULT AMOUNT Principal Balance of Previously Defaulted Receivables 17,709,674.83 Current Period Defaulted Receivables 405,962.35 --------------- Total 18,115,637.18 Cumulative Defaulted Receivables 18,115,637.18 Original Pool Balance 102,327,009.71 CUMULATIVE DEFAULT RATIO 17.70% CALCULATION OF CUMULATIVE NET LOSS RATIO CALCULATION OF NET LIQUIDATION LOSSES Principal Balance plus accrued and unpaid interest of Liquidated Receivables 727,921.59 Cram Down Losses 0.00 Net Liquidation Proceeds (328,792.39) --------------- Net Liquidation Losses 399,129.20 Cumulative Previous Net Losses 13,818,242.34 --------------- Cumulative Net Losses 14,217,371.54 Original Pool Balance 102,327,009.71 CUMULATIVE NET LOSS RATIO 13.89% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.35 Weighted Average Remaining Term 31.97 Weighted Average Annual Percentage Rate 20.50% SPREAD ACCOUNT SPREAD ACCOUNT CAP 10% of Outstanding Certificate Balance 4,146,449.04 15% of Outstanding Certificate Balance 6,219,673.56 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 11,601,806.90 SPREAD ACCOUNT FLOOR 3% of the Initial Certificate Balance 3,069,810.29 Outstanding Certificate Balance 41,464,490.41 Minimum Floor 100,000.00 --------------- FLOOR AMOUNT 3,069,810.29 Required Spread Account Amount 11,601,806.90 Beginning of Period Spread Account Balance 7,151,394.12 Spread Account Deposit (Withdrawal) from Current Distributions (0.00) Transfer (to) from Cross-Collateralized Spread Accounts 8,046.45 Required addition to/(eligible withdrawal from) Spread Account 4,442,366.33 Earnings on Spread Account Balance 30,024.91 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 7,189,465.48 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1997-2 6.65% ASSET-BACKED CERTIFICATES Distribution Date 5/17/99 Collection Period 4/99 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 $2,971,701.36 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $305,299.21 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,666,402.15 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $26.21 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $2.69 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $23.51 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $33,666.25 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $33,666.25 (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 $2,192,271.83 (k) Scheduled Payments collected in such Collection Period $2,003,915.49 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 $57,991,143.73 (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 $55,956,609.70 (c) The Pool factor as of the close of business on the last day set forth above 0.9649165 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 $121,539.38 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,866.08 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.07 (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 $28,852.58 (b) Distributions (to) from Collection Account $915.41 for Payaheads (c) Interest earned on Payahead Balances $87.74 (d) Ending Payahead Account Balance $29,855.73 5 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $16,786,982.91 Spread Account Balance $9,198,674.14 (b) The change in the spread account on the Distribution Date set forth above $15,883.32 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 $58,978.33 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $755,135.31 (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 125 Aggregate Gross Amount $1,288,000.00 (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 121 Aggregate Gross Amount $1,420,000.00 8 Performance Triggers. (a) Delinquency Ratio 4.41% (b) Average Delinquency Ratio 5.67% (c) Cumulative Default Ratio 15.44% (d) Cumulative Net Loss Ratio 12.01% (e) Is a Portfolio Performance Test violation continuing? Yes (f) Has an Insurance Agreement Event of Default occurred? Yes
CPS AUTO GRANTOR TRUST 1997-2 STATEMENT TO CERTIFICATEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 3,173,799.55 LOCK BOX NSF ITEMS: (28,859.40) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: (915.41) COLLECTION ACCOUNT INTEREST 10,774.51 PAYAHEAD ACCOUNT INTEREST 87.74 TOTAL COLLECTION PROCEEDS: 3,154,886.99 FOR DISTRIBUTION DATE: 5/17/99 FOR DETERMINATION DATE: 5/10/99 FOR COLLECTION PERIOD: 4/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 57,991,143.73 Principal portion of payments collected (non-prepayments) 1,032,411.48 Prepayments in full allocable to principal 686,536.00 Collections allocable to principal 1,718,947.48 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 332,656.32 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 2,051,603.80 Realized Losses 755,135.31 Cram Down Losses 0.00 Ending Principal Balance 55,184,404.62 INTEREST Collections allocable to interest 971,504.01 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 131,779.18 --------------- Total Interest 1,103,283.19 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 55,091,586.56 Beginning of Period Class B Principal Balance 3,531,425.30 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 9,182,790.82 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 24,887.47 Aggregate Payahead Balance 29,767.99 Aggregate Payahead Balance for preceding Distribution Date 28,852.58 Interest Earned on Payahead Balances 87.74 Scheduled Payments due in Collection Period 2,192,271.83 Scheduled Payments collected in Collection Period 2,003,915.49 Aggregate Amount of Realized Losses for preceding Distribution Date 755,135.31 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 541.00 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to 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 1,288,000.00 60+ days delinquent 121 1,420,000.00 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. 2,708,000.00 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. 591,831.33 Delinquency Ratio for second preceding Determination Date 5.19% Delinquency Ratio for third preceding Determination Date 7.41% Cumulative Defaults for preceding Determination Date 17,832,466.94 Cumulative Net Losses for preceding Determination Date 13,714,907.55 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 2,690,451.49 Liquidation Proceeds 332,656.32 Recoveries 131,779.18 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 3,154,886.99 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,032,411.48 Prepayments in full allocable to principal 686,536.00 Principal Balance of Liquidated Receivables 1,087,791.63 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,806,739.11 Class A Principal Distributable Amount Principal Distributable Amount 2,806,739.11 Times Class A Percentage (95%) 95% --------------- 2,666,402.15 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,666,402.15 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 55,091,586.56 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 305,299.21 Class B Principal Distributable Amount Principal Distributable Amount 2,806,739.11 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 140,336.96 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 3,531,425.30 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 33,666.25 Class B Excess Interest Amount Total Distribution Amount 3,154,886.99 minus Class A Principal and Interest Distributable Amount 2,971,701.36 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 33,666.25 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 140,336.96 Class B Principal Carryover Shortfall 631,868.12 Trustee distributions 1,265.89 Standby Servicer distributions 3,866.08 Servicer distributions 121,539.38 Collateral Agent distributions 732.79 Reimbursement Obligations 58,978.33 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 631,868.12 --------------- 631,868.12 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A Interest Carryover Shortfall from previous period 0.00 Interest on Class A Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(c) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 3,866.08 Servicing Fee (2.0%) 96,651.91 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 24,887.47 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 724.89 Trustee's out-of-pocket expenses 541.00 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 732.79 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 305,299.21 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 305,299.21 (viii)(A) Class B Coupon Interest - Unadjusted 33,666.25 Class B Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class B Interest Shortfall 0.00 Adjusted Class B Interest Distributable Amount 33,666.25 (v)(B) Class A Principal Distributable Amount - Current Month 2,666,402.15 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 2,666,402.15 (vi) Certificate Insurer Premium 15,290.68 Certificate Insurer Premium Supplement 43,687.65 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 140,336.96 Class B Principal Carryover Shortfall - Previous Month(s) 631,868.12 Current Month Class B Principal Shortfall (772,205.08) Adjusted Class B Principal Distributable Amount 0.00 (C) Excess Interest (Shortage) Amount for Deposit to (withdrawal from) Spread Account (36,863.10) 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 55,091,586.56 Class A Principal Distributions 2,666,402.15 Class A End of Period Principal Balance 52,425,184.40 Class B Beginning of Period Principal Balance 3,531,425.30 Class B Principal Distributable Amount 0.00 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 3,154,886.99 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 432,703.35 (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) 2,722,183.64 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 2,722,183.64 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 33,666.25 (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) 2,688,517.39 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,688,517.39 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,666,402.15 (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) 22,115.24 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 22,115.24 (vi) Certificate Insurer Premium 15,290.68 (v) Certificate Insurer Premium Supplement 43,687.65 Deficiency Amount (36,863.10) Withdrawal from Spread Account to Cover Deficiency 36,863.10 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) 140,336.96 (iii) Prior month(s) carryover shortfalls 631,868.12 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (772,205.08) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (772,205.08) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 2,708,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 2,708,000.00 Aggregate Gross Principal Balance as of the close of 61,451,020.99 business on the last day of the Collection Period. DELINQUENCY RATIO 4.41% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 4.41% Delinquency Ratio for second preceding Determination Date 5.19% Delinquency Ratio for third preceding Determination Date 7.41% --------------- Average Delinquency Ratio 5.67% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 17,832,466.94 Current Period Defaulted Receivables 591,831.33 --------------- Total 18,424,298.27 Cumulative Defaulted Receivables 18,424,298.27 Original Pool Balance 119,362,032.46 Cumulative Default Ratio 15.44% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,087,791.63 Cram Down Losses 0.00 Net Liquidation Proceeds (464,435.50) --------------- Net Liquidation Losses 632,356.13 Cumulative Previous Net Losses 13,714,907.55 --------------- Cumulative Net Losses 14,338,263.68 Original Pool Balance 119,362,032.46 Cumulative Net Loss Ratio 12.01% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.35 Weighted Average Remaining Term 34.38 Weighted Average Annual Percentage Rate 20.43% SPREAD ACCOUNT Spread Account Cap 9% of Outstanding Certificate Balance 5,036,094.87 15% of Outstanding Certificate Balance 8,393,491.46 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 16,786,982.91 Spread Account Floor 3% of the Initial Certificate Balance 3,580,860.93 Outstanding Certificate Balance 55,956,609.70 Minimum Floor 100,000.00 --------------- Floor Amount 3,580,860.93 Required Spread Account Amount 16,786,982.91 Beginning of Period Spread Account Balance 9,182,790.82 Spread Account Deposit (Withdrawal) from Current Distributions (36,863.10) Transfer (to) from Cross-Collateralized Spread Accounts 13,838.22 Required addition to/(eligible withdrawal from) Spread Account 7,627,216.97 Earnings on Spread Account Balance 38,908.20 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 9,198,674.14 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 5/17/99 Collection Period 4/99 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 $3,587,088.09 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $46,543.26 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $3,540,544.83 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $44.38 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $0.58 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $43.80 (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 $76,742.69 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $18,314.51 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $58,428.18 (p) The aggregate amount of the distribution to Certificateholders on the Distribution Date set forth above $0.00 (q) The amount of the distribution set forth in paragraph A.1. (p) above in respect of interest $0.00 (r) The amount of the distribution set forth in in paragraph A.1. (p) above in respect of principal $0.00 (s) Scheduled Payments due in such Collection Period $2,904,952.69 (t) Scheduled Payments collected in such Collection Period $2,554,122.35 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 $81,282,612.42 (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 $71,352,290.27 (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 $69,288,684.04 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8524416 (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 $2,063,606.23 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0253880 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 $168,961.00 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $4,064.13 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $2.09 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 $0.05 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the 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 ($70,380.45) (f) The amount of the Certificate Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (q) above ($18,314.51) (g) The amount of the Certificate Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (r) above ($128,808.63) 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 $23,217,571.14 Spread Account Balance $3,841,570.26 (b) The change in the spread account on the Distribution Date set forth above $51,145.22 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 $75,693.94 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,055,986.43 (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 171 Aggregate Gross Amount $1,881,000.00 (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 159 Aggregate Gross Amount $1,865,000.00 7 Performance Triggers (a) Delinquency Ratio 4.36% (b) Average Delinquency Ratio 5.69% (c) Cumulative Default Ratio 14.20% (d) Cumulative Net Loss Ratio 10.89% (e) Is a Portfolio Performance Test violation continuing? Yes (f) Has an Insurance Agreement Event of Default occurred? Yes
CPS AUTO RECEIVABLES TRUST 1997-3 STATEMENT TO NOTEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? YES DEFICIENCY CLAIM AMOUNT (70,380.45) INPUTS GROSS COLLECTION PROCEEDS: 4,266,612.18 LOCK BOX NSF ITEMS: (39,255.68) TOTAL COLLECTION PROCEEDS: 4,227,356.50 FOR DISTRIBUTION DATE: 5/17/99 FOR DETERMINATION DATE: 5/10/99 FOR COLLECTION PERIOD: 4/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 81,282,612.42 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 81,282,612.42 Principal portion of payments collected (non-prepayments) 1,347,923.32 Prepayments in full allocable to principal 926,223.00 Collections allocable to principal 2,274,146.32 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 560,575.85 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 2,834,722.17 Realized Losses 1,055,986.43 Cram Down Losses 0.00 Ending Principal Balance 77,391,903.82 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 1,206,199.03 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 186,435.30 --------------- Total Interest 1,392,634.33 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 9,156,050.82 Beginning of Period Class A-2 Principal Balance 61,668,000.00 Beginning of Period Class B Principal Balance 2,063,606.23 Beginning of Period Certificate Balance 2,063,606.23 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 3,790,425.04 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 33,489.98 Scheduled Payments due in Collection Period 2,904,952.69 Scheduled Payments collected in Collection Period 2,554,122.35 Aggregate Amount of Realized Losses for preceding Distribution Date 1,055,986.43 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 222.10 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Note Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 171 1,881,000.00 60+ days delinquent 159 1,865,000.00 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. 3,746,000.00 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. 908,271.11 Delinquency Ratio for second preceding Determination Date 5.28% Delinquency Ratio for third preceding Determination Date 7.45% Cumulative Defaults for preceding Determination Date 20,391,155.26 Cumulative Net Losses for preceding Determination Date 15,467,969.79 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) Y CALCULATIONS REQUISITE RESERVE AMOUNT Weighted Average of the Interest Rates and Pass-Through Rates 6.5809% minus 2.5% 2.50% --------------- 4.0809% 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) 3,480,345.35 Liquidation Proceeds 560,575.85 Recoveries 186,435.30 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 0.00 Investment earnings from Prefunding Account 0.00 Investment earnings from Interest Reserve Account 266.29 Investment earnings from Collection Account 14,319.31 --------------- TOTAL DISTRIBUTION AMOUNT 4,241,942.10 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,347,923.32 Prepayments in full allocable to principal 926,223.00 Principal Balance of Liquidated Receivables 1,616,562.28 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 3,890,708.60 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 77,391,903.82 --------------- 69,652,713.43 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 82.3% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 3,890,708.60 Times Class A Noteholders' Percentage 91% --------------- 3,540,544.83 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 3,540,544.83 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 9,156,050.82 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 46,543.26 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 3,890,708.60 Times Class B Percentage 2.5% --------------- Class B Principal Distributable Amount 97,267.72 Certificate Principal Distributable Amount Principal Distributable Amount 3,890,708.60 Times Certificate Percentage 2.5% --------------- Certificate Principal Distributable Amount 97,267.72 Class B Noteholders' Interest Amount Beginning of Period Principal Balance of the Notes 2,063,606.23 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 18,314.51 Certificateholders' Interest Amount Beginning of Period Principal Balance of the Certificates 2,063,606.23 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 18,314.51 Class B Excess Interest Amount Total Distribution Amount 4,241,942.10 minus Class A Principal and Interest Distributable Amount 3,587,088.09 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 18,314.51 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 97,267.72 Class B Principal Carryover Shortfall 31,540.91 Trustee distributions 899.46 Standby Servicer distributions 4,064.13 Servicer distributions 168,961.00 Collateral Agent distributions 624.59 Reimbursement Obligations 75,693.94 --------------- 257,487.75 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B and Certificates Principal Carryover Shortfall from previous period 31,540.91 --------------- 31,540.91 Certificates Principal Carryover Shortfall from previous period 31,540.91 --------------- 31,540.91 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 4,064.13 Servicing Fee (2.0%) 135,471.02 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 33,489.98 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 677.36 Indenture Trustee's out-of-pocket expenses 222.10 Unpaid Indenture Trustee Fee from prior Collection Periods 0.00 Unpaid Indenture Trustee's out-of-pocket exp. - prior Collection Periods 0.00 Owner Trustee Fee 0.00 Owner Trustee's out-of-pocket expenses 0.00 Unpaid Owner Trustee Fee from prior Collection Periods 0.00 Unpaid Owner Trustee's out-of-pocket exp - prior Collection Periods 0.00 (iv) Collateral Agent Fee 624.59 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 46,543.26 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 46,543.26 (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 18,314.51 Class B Note Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on B Interest Carryover from Prior Months 0.00 Current Month Class B Interest Shortfall 0.00 Adjusted Class B Note Interest Distributable Amount 18,314.51 (vii) Class A Principal Distributable Amount - Current Month 3,540,544.83 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shorfall 0.00 Class A Principal Distribution Amount to Class A-1 3,540,544.83 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 19,624.36 Note Insurer Premium Supplement 56,069.59 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 97,267.72 Class B Principal Carryover Shortfall - Previous Month(s) 31,540.91 Current Month Class B Principal Shortfall (70,380.45) Adjusted Class B Principal Distributable Amount 58,428.18 (B) Certificate Interest - Unadjusted 18,314.51 Certificate Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on Certificate Interest Shortfall - Previous Month(s) 0.00 Interest on Certificate Interest Carryover from Prior Months 0.00 Current Month Certificate Interest Shortfall (18,314.51) Adjusted Certificate Interest Distributable Amount 0.00 Certificate Principal Distributable Amount - Current Month Unadjusted 97,267.72 Certificate Principal Carryover Shorfall - Previous Month(s) 31,540.91 Current Month Certificate Principal Shortfall (128,808.63) Adjusted Certificate Principal Distributable Amount 0.00 (xi) Until the Target Payment Date, remaining amount to Class a Noteholders 0.00 Amount to Class A-1 Noteholders 0.00 Amount to Class A-2 Noteholders 0.00 (xii) After an Event of Default, Certificateholders' Int. Dist. Amount 0.00 (xiii) After an Event of Default, Certificateholders' Prin. Dist. Amount 0.00 (xiv) After the Target Pmt. Date, remaining amount into Spread Acct. 0.00 Spread Account withdrawal for deficiencies 0.00 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ----------------------------------------------------
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 9,156,050.82 Class A-1 Principal Distributions 3,540,544.83 Class A-1 End of Period Principal Amount (prior to turbo) 5,615,505.99 Additional Principal Distribution 0.00 Class A-1 End of Period Principal Amount 5,615,505.99 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 2,063,606.23 Class B Principal Distributable Amount 58,428.18 Class B End of Period Principal Amount BEFORE Spread Account Distributions 2,005,178.05 Allocations of Cash Releases to Cover B Shortfalls 0.00 Class B End of Period Principal Amount AFTER Spread Account Distributions 2,005,178.05 Certificate Beginning of Period Principal Amount 2,063,606.23 Certificate Principal Distributable Amount 0.00 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 2,063,606.23 Allocation of Cash Releases to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 2,063,606.23 CLASS A-1 DEFICIENCY - INTEREST (i) Total Distribution Amount Available 4,241,942.10 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(i) and (v)A 221,092.44 (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) 4,020,849.66 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(v) B 4,020,849.66 (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) 3,692,981.46 CLASS B NOTE DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) A 3,692,981.46 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(v) A 18,314.51 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 3,674,666.95 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a)(vii) 3,674,666.95 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(vii) 3,540,544.83 (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) 134,122.12 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.8(a)(viii) 134,122.12 (vi) Note Insurer Premium 19,624.36 (v) Note Insurer Premium Supplement 56,069.59 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) 58,428.18 CLASS B NOTES & CERTIFICATES DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) and (x) 58,428.18 (ii) Amounts payable pursuant to Section 5.8(a)(vi) and (x) 97,267.72 (iii) Prior month(s) carryover shortfalls 31,540.91 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Amount Remaining for Further Distribution/ B Notes (Deficiency) (70,380.45) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (70,380.45) CERTIFICATE DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) and (x) 0.00 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(vi) and (x) 18,314.51 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii)-(v), there is a Class B Deficiency YES Amount Remaining for Further Distribution/(Deficiency) (18,314.51) CERTIFICATES DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) and (x) 0.00 (ii) Amounts payable pursuant to Section 5.8(a)(vi) and (x) 97,267.72 (iii) Prior month(s) carryover shortfalls 31,540.91 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Amount Remaining for Further Distribution/B Notes (Deficiency) (128,808.63) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (128,808.63) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 3,746,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 3,746,000.00 Aggregate Gross Principal Balance as of the close of 85,996,899.40 business on the last day of the Collection Period. DELINQUENCY RATIO 4.36% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 4.36% Delinquency Ratio for second preceding Determination Date 5.28% Delinquency Ratio for third preceding Determination Date 7.45% ---------------- Average Delinquency Ratio 5.69% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 20,391,155.26 Current Period Defaulted Receivables 908,271.11 --------------- Total 21,299,426.37 Cumulative Defaulted Receivables 21,299,426.37 Original Pool Balance 150,000,000.00 Cumulative Default Ratio 14.20% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,616,562.28 Cram Down Losses 0.00 Net Liquidation Proceeds (747,011.15) --------------- Net Liquidation Losses 869,551.13 Cumulative Previous Net Losses 15,467,969.79 --------------- Cumulative Net Losses 16,337,520.92 Original Pool Balance 150,000,000.00 Cumulative Net Loss Ratio 10.89% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.00 Weighted Average Remaining Term 36.99 Weighted Average Annual Percentage Rate 20.37% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 77,391,903.82 minus the Securities Balance 71,352,290.27 --------------- 6,039,613.54 divided by the Aggregate Principal Balance 7.80% Floor OC Percent Aggregate Principal Balance 77,391,903.82 minus the Securities Balance 71,352,290.27 --------------- 6,039,613.54 divided by the initial Aggregate Principal Balance 150,000,000.00 --------------- 4.03% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 71,352,290.27 (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 1.20% if a Trigger Event, 15% minus the OC Percent 7.20% if a Portfolio Performance Event of Default, 30% minus the OC Percent 22.20% if an Insurance Agreement Event of Default, 30% 30.00% 30.00% times the Aggregate Principal Balance 77,391,903.82 --------------- 23,217,571.14 Requisite Amount 23,217,571.14 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) Y Required Spread Account Amount 23,217,571.14 Beginning of Period Spread Account Balance 3,790,425.04 Additional Deposit for Subsequent Receivables Transfer 0.00 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 35,334.54 Required addition to/(eligible withdrawal from) Spread Account 19,391,811.56 Earnings on Spread Account Balance 15,810.68 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 3,841,570.26 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 5/17/99 Collection Period 4/99 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 $2,641,012.50 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $47,071.96 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,593,940.54 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $48.67 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $0.87 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $47.81 (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 $170,581.83 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $28,057.62 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $142,524.21 (p) Scheduled Payments due in such Collection Period $2,189,186.10 (q) Scheduled Payments collected in such Collection Period $2,067,614.55 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 $63,586,680.85 (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 $56,056,291.89 (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 $53,019,482.05 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8338143 (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 $3,036,809.84 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0477586 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 $128,025.27 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,179.33 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $2.36 (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 $18,220,859.02 Spread Account Balance $3,343,599.32 (b) The change in the spread account on the Distribution Date set forth above $83,331.89 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 $59,646.92 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $680,024.43 (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 127 Aggregate Gross Amount $1,430,000.00 (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 124 Aggregate Gross Amount $1,495,000.00 7 Performance Triggers. (a) Delinquency Ratio 4.34% (b) Average Delinquency Ratio 5.37% (c) Cumulative Default Ratio 11.85% (d) Cumulative Net Loss Ratio 8.63% (e) Is a Portfolio Performance Test violation continuing? Yes (f) Has an Insurance Agreement Event of Default occurred? Yes
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: 3,222,090.33 LOCK BOX NSF ITEMS: (42,609.73) TOTAL COLLECTION PROCEEDS: 3,279,480.60 FOR DISTRIBUTION DATE: 5/17/99 FOR DETERMINATION DATE: 5/10/99 FOR COLLECTION PERIOD: 4/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 63,586,680.85 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 63,586,680.85 Principal portion of payments collected (non-prepayments) 1,041,984.88 Prepayments in full allocable to principal 766,286.00 Collections allocable to principal 1,808,270.88 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 362,188.80 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 2,170,459.68 Realized Losses 680,024.43 Cram Down Losses 0.00 Ending Principal Balance 60,736,196.74 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 $1,025,629.67 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 83,391.25 --------------- Total Interest $1,109,020.92 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 9,305,823.98 Beginning of Period Class A-2 Principal Balance 46,307,598.60 Beginning of Period Certificate Principal Balance 3,179,334.05 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 3,260,267.42 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 22,047.47 Scheduled Payments due in Collection Period 2,189,186.10 Scheduled Payments collected in Collection Period 2,067,614.55 Aggregate Amount of Realized Losses for preceding Distribution Date 680,024.43 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 191.14 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 127 1,430,000.00 60+ days delinquent 124 1,495,000.00 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. 2,925,000.00 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. 797,938.76 Delinquency Ratio for second preceding Determination Date 4.86% Delinquency Ratio for third preceding Determination Date 6.90% Cumulative Defaults for preceding Determination Date 11,744,965.39 Cumulative Net Losses for preceding Determination Date 8,538,028.21 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) Y CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 2,833,900.55 Liquidation Proceeds 362,188.80 Recoveries 83,391.25 Purchase Amounts 0.00 Note Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 11,105.26 --------------- TOTAL DISTRIBUTION AMOUNT 3,290,585.86 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,041,984.88 Prepayments in full allocable to principal 766,286.00 Principal Balance of Liquidated Receivables 1,042,213.23 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,850,484.11 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 60,736,196.74 --------------- 54,662,577.07 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 78.8% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 2,850,484.11 Times Class A Noteholders' Percentage 91% --------------- 2,593,940.54 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,593,940.54 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 9,305,823.98 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 47,071.96 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 2,850,484.11 Times Certificate Percentage 5.0% --------------- Class B Principal Distributable Amount 142,524.21 Certificateholders' Interest Amount Total Distribution Amount 3,290,585.86 minus Class A Principal and Interest Distributable Amount 2,884,127.39 Beginning of Period Principal Balance of the Certificates 3,179,334.05 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 28,057.62 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 28,057.62 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 142,524.21 Class B Principal Carryover Shortfall 0.00 Trustee distributions 721.03 Standby Servicer distributions 3,179.33 Servicer distributions 128,025.27 Collateral Agent distributions 489.94 Reimbursement Obligations 59,646.92 --------------- 43,814.15 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 3,179.33 Servicing Fee (2.0%) 105,977.80 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 22,047.47 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 529.89 Indenture Trustee's out-of-pocket expenses 191.14 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 489.94 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v)(A) Class A-1 Interest Distributable Amount - Current Month 47,071.96 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 47,071.96 (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 (vii) Class A Principal Distributable Amount - Current Month 2,593,940.54 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 2,593,940.54 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 15,464.02 Note Insurer Premium Supplement 44,182.90 Other Reimbursement Obligations to Note Insurer 0.00 (ix) Transition Expenses to successor Servicer 0.00 (vi)(A) Certificate Note Interest - Unadjusted 28,057.62 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 Diestributable Amount 28,057.62 (x) Certificate Principal Distributable Amount - Current Month Unadjusted 142,524.21 Certificate Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Certificate Principal Shortfall 0.00 Adjusted Certificate Principal Distributable Amount 142,524.21 (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. 43,814.15 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 ----------------------------------------------------
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 9,305,823.98 Class A-1 Principal Distributions 2,593,940.54 Class A-1 End of Period Principal Amount (prior to turbo) 6,711,883.45 Additional Principal Distribution 0.00 Class A-1 End of Period Principal Amount 6,711,883.45 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 3,179,334.05 Certificate Principal Distributable Amount 142,524.21 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 3,036,809.84 Withdrawal from Spread Account to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 3,036,809.84 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 3,290,585.86 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 422,602.42 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,867,983.44 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,867,983.44 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,593,940.54 (iii) Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 274,042.90 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 274,042.90 (vi) Note Insurer Premium 15,464.02 (v) Note Insurer Premium Supplement 44,182.90 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) 214,395.98 CERTIFICATE - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 214,395.98 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 28,057.62 (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) 186,338.36 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 186,338.36 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 142,524.21 (iii) Prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Unadjusted Amount Remaining for Further Distribution/(Deficiency) 43,814.15 Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 43,814.15 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 2,925,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 2,925,000.00 Aggregate Gross Principal Balance as of the close of 67,426,128.70 business on the last day of the Collection Period. DELINQUENCY RATIO 4.34% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 4.34% Delinquency Ratio for second preceding Determination Date 4.86% Delinquency Ratio for third preceding Determination Date 6.90% --------------- Average Delinquency Ratio 5.37% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 11,744,965.39 Current Period Defaulted Receivables 797,938.76 --------------- Total 12,542,904.15 Cumulative Defaulted Receivables 12,542,904.15 Original Pool Balance 105,860,630.11 Cumulative Default Ratio 11.85% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,042,213.23 Cram Down Losses 0.00 Net Liquidation Proceeds (445,580.05) --------------- Net Liquidation Losses 596,633.18 Cumulative Previous Net Losses 8,538,028.21 --------------- Cumulative Net Losses 9,134,661.39 Original Pool Balance 105,860,630.11 Cumulative Net Loss Ratio 8.63% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.79 Weighted Average Remaining Term 39.11 Weighted Average Annual Percentage Rate 20.27% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 60,736,196.74 minus the Securities Balance 56,056,291.89 --------------- 4,679,904.86 divided by the Aggregate Principal Balance 7.71% Floor OC Percent Aggregate Principal Balance 60,736,196.74 minus the Securities Balance 56,056,291.89 --------------- 4,679,904.86 divided by the initial Aggregate Principal Balance 105,860,630.11 --------------- 4.42% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 56,056,291.89 (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 1.29% if a Trigger Event, 15% minus the OC Percent 7.29% if a Portfolio Performance Event of Default, 30% minus the OC Percent 22.29% if an Insurance Agreement Event of Default, 30% 30.00% 30.00% times the Aggregate Principal Balance 60,736,196.74 --------------- 18,220,859.02 Requisite Amount 18,220,859.02 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) Y Required Spread Account Amount 18,220,859.02 Beginning of Period Spread Account Balance 3,260,267.42 Spread Account Deposit (Withdrawal) from Current Distributions 43,814.15 Transfer (to) from Cross-Collateralized Spread Accounts 27,130.53 Required addition to/(eligible withdrawal from) Spread Account 14,889,646.92 Earnings on Spread Account Balance 12,387.21 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 3,343,599.32 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 5/17/99 Collection Period 4/99 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 $2,349,597.17 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $93,529.92 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,256,067.25 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $42.15 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $1.68 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $40.47 (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 $150,529.97 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $26,570.23 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $123,959.74 (p) Scheduled Payments due in such Collection Period $2,042,941.66 (q) Scheduled Payments collected in such Collection Period $2,023,552.51 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 $60,524,286.14 (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 $53,746,237.92 (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 $50,847,991.70 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8401254 (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 $2,898,246.22 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0478857 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 $119,806.79 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,026.21 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $2.15 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 $0.05 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the 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 $17,413,527.41 Spread Account Balance $3,213,298.13 (b) The change in the spread account on the Distribution Date set forth above $240,832.71 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 $58,898.92 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $555,541.94 (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 99 Aggregate Gross Amount $1,178,000.00 (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 115 Aggregate Gross Amount $1,362,000.00 7 Performance Triggers. (a) Delinquency Ratio 3.99% (b) Average Delinquency Ratio 5.32% (c) Cumulative Default Ratio 10.00% (d) Cumulative Net Loss Ratio 7.75% (e) Is a Portfolio Performance Test violation continuing? No (f) Has an Insurance Agreement Event of Default occurred? Yes
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: 3,092,068.75 LOCK BOX NSF ITEMS: (28,704.61) TOTAL COLLECTION PROCEEDS: 3,063,364.14 FOR DISTRIBUTION DATE: 5/17/99 FOR DETERMINATION DATE: 5/10/99 FOR COLLECTION PERIOD: 4/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 60,524,286.14 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 60,524,286.14 Principal portion of payments collected (non-prepayments) 990,972.75 Prepayments in full allocable to principal 704,774.00 Collections allocable to principal 1,695,746.75 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 227,906.09 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,923,652.84 Realized Losses 555,541.94 Cram Down Losses 0.00 Ending Principal Balance 58,045,091.36 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 $1,032,579.76 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 107,131.54 --------------- Total Interest $1,139,711.30 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 17,929,058.95 Beginning of Period Class A-2 Principal Balance 35,175,000.00 Beginning of Period Certificate Principal Balance 3,022,205.96 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 2,972,465.42 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 18,932.98 Scheduled Payments due in Collection Period 2,042,941.66 Scheduled Payments collected in Collection Period 2,023,552.51 Aggregate Amount of Realized Losses for preceding Distribution Date 555,541.94 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 174.17 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 99 1,178,000.00 60+ days delinquent 115 1,362,000.00 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 2,540,000.00 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 498,830.07 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 4.78% Delinquency Ratio for third preceding Determination Date 7.19% Cumulative Defaults for preceding Determination Date 9,067,753.57 Cumulative Net Losses for preceding Determination Date 6,966,198.39 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) Y CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 2,728,326.51 Liquidation Proceeds 227,906.09 Recoveries 107,131.54 Purchase Amounts 0.00 Note Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 10,442.84 --------------- TOTAL DISTRIBUTION AMOUNT 3,073,806.98 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 990,972.75 Prepayments in full allocable to principal 704,774.00 Principal Balance of Liquidated Receivables 783,448.03 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,479,194.78 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 58,045,091.36 -------------- 52,240,582.23 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 62.7% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 2,479,194.78 Times Class A Noteholders' Percentage 91% --------------- 2,256,067.25 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,256,067.25 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 17,929,058.95 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 93,529.92 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 2,479,194.78 Times Certificate Percentage 5.0% --------------- Class B Principal Distributable Amount 123,959.74 Certificateholders' Interest Amount Total Distribution Amount 3,073,806.98 minus Class A Principal and Interest Distributable Amount 2,537,197.17 Beginning of Period Principal Balance of the Certificates 3,022,205.96 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 26,570.23 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 26,570.23 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 123,959.74 Class B Principal Carryover Shortfall 0.00 Trustee distributions 678.54 Standby Servicer distributions 3,026.21 Servicer distributions 119,806.79 Collateral Agent distributions 467.72 Reimbursement Obligations 58,898.92 --------------- 203,201.66 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-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 3,026.21 Servicing Fee (2.0%) 100,873.81 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 18,932.98 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 504.37 Indenture Trustee's out-of-pocket expenses 174.17 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 467.72 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v)(A) Class A-1 Interest Distributable Amount - Current Month 93,529.92 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 93,529.92 (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 (vii) Class A Principal Distributable Amount - Current Month 2,256,067.25 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 2,256,067.25 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 16,525.60 Note Insurer Premium Supplement 42,373.33 Other Reimbursement Obligations to Note Insurer 0.00 (ix) Transition Expenses to successor Servicer 0.00 (vi)(A)Certificate Note Interest - Unadjusted 26,570.23 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 26,570.23 (x) Certificate Principal Distributable Amount - Current Month Unadjusted 123,959.74 Certificate Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Certificate Principal Shortfall 0.00 Adjusted Certificate Principal Distributable Amount 123,959.74 (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. 203,201.66 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 ----------------------------------------------------
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 17,929,058.95 Class A-1 Principal Distributions 2,256,067.25 Class A-1 End of Period Principal Amount (prior to turbo) 15,672,991.70 Additional Principal Distribution 0.00 Class A-1 End of Period Principal Amount 15,672,991.70 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 3,022,205.96 Certificate Principal Distributable Amount 123,959.74 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 2,898,246.22 Withdrawal from Spread Account to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 2,898,246.22 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 3,073,806.98 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 405,109.18 (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) 2,668,697.80 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,668,697.80 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,256,067.25 (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) 412,630.55 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 412,630.55 (vi) Note Insurer Premium 16,525.60 (v) Note Insurer Premium Supplement 42,373.33 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) 353,731.63 CERTIFICATE DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 353,731.63 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 26,570.23 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 327,161.40 CERTIFICATE DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 327,161.40 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 123,959.74 (iii)Prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Unadjusted Amount Remaining for Further Distribution/(Deficiency) 203,201.66 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 2,540,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 2,540,000.00 Aggregate Gross Principal Balance as of the close of 63,723,029.80 business on the last day of the Collection Period. DELINQUENCY RATIO 3.99% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 3.99% Delinquency Ratio for second preceding Determination Date 4.78% Delinquency Ratio for third preceding Determination Date 7.19% ---------------- Average Delinquency Ratio 5.32% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 9,067,753.57 Current Period Defaulted Receivables 498,830.07 --------------- Total 9,566,583.64 Cumulative Defaulted Receivables 9,566,583.64 Original Pool Balance 95,706,307.00 Cumulative Default Ratio 10.00% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 783,448.03 Cram Down Losses 0.00 Net Liquidation Proceeds (335,037.63) --------------- Net Liquidation Losses 448,410.40 Cumulative Previous Net Losses 6,966,198.39 --------------- Cumulative Net Losses 7,414,608.79 Original Pool Balance 95,706,307.00 Cumulative Net Loss Ratio 7.75% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.00 Weighted Average Remaining Term 40.35 Weighted Average Annual Percentage Rate 20.20% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 58,045,091.36 minus the Securities Balance 53,746,237.92 --------------- 4,298,853.44 divided by the Aggregate Principal Balance 7.41% Floor OC Percent Aggregate Principal Balance 58,045,091.36 minus the Securities Balance 53,746,237.92 --------------- 4,298,853.44 divided by the initial Aggregate Principal Balance 95,706,307.00 --------------- 4.49% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 53,746,237.92 (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 1.6% if a Trigger Event, 15% minus the OC Percent 7.6% if a Portfolio Performance Event of Default, 30% minus the OC Percent 22.6% if an Insurance Agreement Event of Default, 30% 30% 30% times the Aggregate Principal Balance 58,045,091.36 --------------- 17,413,527.41 Requisite Amount 17,413,527.41 Does a Trigger Event exist? N Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) Y Required Spread Account Amount 17,413,527.41 Beginning of Period Spread Account Balance 2,972,465.42 Spread Account Deposit (Withdrawal) from Current Distributions 203,201.66 Transfer (to) from Cross-Collateralized Spread Accounts 25,895.88 Required addition to/(eligible withdrawal from) Spread Account 14,211,964.45 Earnings on Spread Account Balance 11,735.17 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 3,213,298.13 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 5/17/99 Collection Period 4/99 Under the Pooling and Servicing Agreement dated as of March 16, 1998 (the "Agreement") by and among CPS Receivables Corp., Consumer Portfolio Services, Inc. as Servicer, and Norwest Bank Minnesota, National Association, as Trustee and as Collateral Agent, the Servicer is required to prepare certain information each month regarding current distributions to Certificateholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date and Collection Period listed above is set forth below. Certain of the information is presented on the basis of an original principal amount of $1,000 per Certificate, and certain other information is presented based upon the aggregate amounts for the Trust as a whole.
A. Information Regarding the Current Monthly Distribution: 1 Certificates. (a) The aggregate amount of the distribution to Class A Certificateholders on the Distribution Date set forth above $5,365,779.87 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $634,367.10 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $4,731,412.77 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $30.21 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $3.57 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $26.64 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $306,059.11 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $57,037.39 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $249,021.72 (j) Scheduled Payments due in such Collection Period $4,311,977.36 (k) Scheduled Payments collected in such Collection Period $4,108,170.43 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 $133,550,968.39 (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 $128,570,533.89 (c) The Pool factor as of the close of business on the last day set forth above 0.9627076 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 $258,207.60 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,782.31 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.45 (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 $45,217.74 (b) Distributions (to) from Collection Account ($10,140.98) for Payaheads (c) Interest earned on Payahead Balances $338.00 (d) Ending Payahead Account Balance $35,414.76 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 $38,571,160.17 Spread Account Balance $22,489,833.94 (b) The change in the spread account on the Distribution Date set forth above $233,429.85 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 $143,516.86 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,147,335.68 (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 270 Aggregate Gross Amount $3,329,000.00 (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 247 Aggregate Gross Amount $3,076,000.00 8 Performance Triggers. (a) Delinquency Ratio 4.52% (b) Average Delinquency Ratio 5.17% (c) Cumulative Default Ratio 7.62% (d) Cumulative Net Loss Ratio 5.55% (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: 6,218,795.22 LOCK BOX NSF ITEMS: (58,915.73) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 10,140.98 COLLECTION ACCOUNT INTEREST 20,613.59 PAYAHEAD ACCOUNT INTEREST 338.00 TOTAL COLLECTION PROCEEDS: 6,190,972.06 FOR DISTRIBUTION DATE: 5/17/99 FOR DETERMINATION DATE: 5/10/99 FOR COLLECTION PERIOD: 4/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 133,550,968.39 Principal portion of payments collected (non-prepayments) 1,880,105.83 Prepayments in full allocable to principal 1,358,373.00 Collections allocable to principal 3,238,478.83 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 594,619.99 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 3,833,098.82 Realized Losses 1,147,335.68 Cram Down Losses 0.00 Ending Principal Balance 128,570,533.89 INTEREST Collections allocable to interest 2,228,064.60 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 129,808.64 --------------- Total Interest 2,357,873.24 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 126,873,420.29 Beginning of Period Class B Principal Balance 6,677,548.10 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 22,256,404.09 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 35,622.65 Aggregate Payahead Balance 35,076.76 Aggregate Payahead Balance for preceding Distribution Date 45,217.74 Interest Earned on Payahead Balances 338.00 Scheduled Payments due in Collection Period 4,311,977.36 Scheduled Payments collected in Collection Period 4,108,170.43 Aggregate Amount of Realized Losses for preceding Distribution Date 1,147,335.68 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 1,311.41 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 270 3,329,000.00 60+ days delinquent 247 3,076,000.00 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 6,405,000.00 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 1,123,106.50 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 4.64% Delinquency Ratio for third preceding Determination Date 6.34% Cumulative Defaults for preceding Determination Date 13,126,095.46 Cumulative Net Losses for preceding Determination Date 9,357,989.59 Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) Y CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 5,466,543.43 Liquidation Proceeds 594,619.99 Recoveries 129,808.64 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 6,190,972.06 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,880,105.83 Prepayments in full allocable to principal 1,358,373.00 Principal Balance of Liquidated Receivables 1,741,955.67 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 4,980,434.50 Class A Principal Distributable Amount Principal Distributable Amount 4,980,434.50 Times Class A Percentage (95%) 95% --------------- 4,731,412.77 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 4,731,412.77 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 126,873,420.29 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 634,367.10 Class B Principal Distributable Amount Principal Distributable Amount 4,980,434.50 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 249,021.72 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 6,677,548.10 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 57,037.39 Class B Excess Interest Amount Total Distribution Amount 6,190,972.06 minus Class A Principal and Interest Distributable Amount 5,365,779.87 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 57,037.39 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 249,021.72 Class B Principal Carryover Shortfall 0.00 Trustee distributions 2,424.33 Standby Servicer distributions 2,782.31 Servicer distributions 258,207.60 Collateral Agent distributions 1,112.92 Reimbursement Obligations 143,516.86 --------------- 111,089.05 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A Interest Carryover Shortfall from previous period 0.00 Interest on Class A Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(c) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 2,782.31 Servicing Fee (2.0%) 222,584.95 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 35,622.65 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Trustee Fee 1,112.92 Trustee's out-of-pocket expenses 1,311.41 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 1,112.92 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 634,367.10 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 634,367.10 (viii)(A)Class B Coupon Interest - Unadjusted 57,037.39 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 57,037.39 (v)(B) Class A Principal Distributable Amount - Current Month 4,731,412.77 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount 4,731,412.77 (vi) Certificate Insurer Premium 41,731.85 Certificate Insurer Premium Supplement 101,785.01 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 249,021.72 Class B Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class B Principal Shortfall 0.00 Adjusted Class B Principal Distributable Amount 249,021.72 (C)Excess Interest (Shortage) Amount for Deposit to (withdrawal from) Spread Account 111,089.05 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 126,873,420.29 Class A Principal Distributions 4,731,412.77 Class A End of Period Principal Balance 122,142,007.52 Class B Beginning of Period Principal Balance 6,677,548.10 Class B Principal Distributable Amount 249,021.72 Class B End of Period Principal Balance BEFORE Spread Account Distributions 6,428,526.38 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 6,428,526.38 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 6,190,972.06 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 898,894.26 (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) 5,292,077.80 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 5,292,077.80 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 57,037.39 (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) 5,235,040.41 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 5,235,040.41 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 4,731,412.77 (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) 503,627.64 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 503,627.64 (vi) Certificate Insurer Premium 41,731.85 (v) Certificate Insurer Premium Supplement 101,785.01 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) 360,110.78 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 360,110.78 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 249,021.72 (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) 111,089.05 Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 111,089.05 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 6,405,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 6,405,000.00 Aggregate Gross Principal Balance as of the close of 141,555,019.29 business on the last day of the Collection Period. DELINQUENCY RATIO 4.52% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 4.52% Delinquency Ratio for second preceding Determination Date 4.64% Delinquency Ratio for third preceding Determination Date 6.34% --------------- Average Delinquency Ratio 5.17% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 13,126,095.46 Current Period Defaulted Receivables 1,123,106.50 --------------- Total 14,249,201.96 Cumulative Defaulted Receivables 14,249,201.96 Original Pool Balance 186,954,818.61 Cumulative Default Ratio 7.62% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,741,955.67 Cram Down Losses 0.00 Net Liquidation Proceeds (724,428.63) --------------- Net Liquidation Losses 1,017,527.04 Cumulative Previous Net Losses 9,357,989.59 --------------- Cumulative Net Losses 10,375,516.63 Original Pool Balance 186,954,818.61 Cumulative Net Loss Ratio 5.55% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.10 Weighted Average Remaining Term 43.15 Weighted Average Annual Percentage Rate 20.30% SPREAD ACCOUNT Spread Account Cap 13.5% of Outstanding Certificate Balance 17,357,022.08 18.5% of Outstanding Certificate Balance 23,785,548.77 Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 38,571,160.17 Spread Account Floor 3% of the Initial Certificate Balance 5,608,644.56 Outstanding Certificate Balance 128,570,533.89 Minimum Floor 100,000.00 --------------- Floor Amount 5,608,644.56 Required Spread Account Amount 38,571,160.17 Beginning of Period Spread Account Balance 22,256,404.09 Spread Account Deposit (Withdrawal) from Current Distributions 111,089.05 Transfer (to) from Cross-Collateralized Spread Accounts 29,326.30 Allocations of cash releases from previous pools 0.00 Required addition to/(eligible withdrawal from) Spread Account 16,174,340.72 Earnings on Spread Account Balance 93,014.50 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 22,489,833.94 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 5/17/99 Collection Period 4/99 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 $6,922,734.07 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $792,916.52 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $6,129,817.55 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $34.53 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $3.95 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $30.57 (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) $358,462.49 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $70,856.07 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $287,606.42 (j) Scheduled Payments due in such Collection Period $5,100,057.05 (k) Scheduled Payments collected in such Collection Period $4,907,022.76 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 $158,045,425.44 (c) The Aggregate Pool factor as of the close of business on the last day set forth above 0.7488804 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 $321,432.45 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,426.31 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.60 (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 $41,500.73 (b) Distributions (to) from Collection Account $3,161.30 for Payaheads (c) Interest earned on Payahead Balances $274.17 (d) Ending Payahead Account Balance $44,936.20 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 $47,413,627.63 Spread Account Balance $21,836,014.08 (b) The change in the spread account on the Distribution Date set forth above $88,070.57 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 $176,379.12 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,495,210.58 (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 262 Aggregate Gross Amount $3,262,000.00 (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 277 Aggregate Gross Amount $3,549,000.00 8 Performance Triggers. (a) Delinquency Ratio 3.95% (b) Average Delinquency Ratio 4.86% (c) Cumulative Default Ratio 6.17% (d) Cumulative Net Loss Ratio 4.28% (e) Is a Portfolio Performance Test violation continuing? No (f) Has an Insurance Agreement Event of Default occurred? Yes
CPS AUTO GRANTOR TRUST 1998-2 STATEMENT TO CERTIFICATEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 35,015.55 INPUTS GROSS COLLECTION PROCEEDS: 7,828,953.73 LOCK BOX NSF ITEMS: (65,819.30) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: (3,161.30) COLLECTION ACCOUNT INTEREST 25,525.42 PAYAHEAD ACCOUNT INTEREST 274.17 TOTAL COLLECTION PROCEEDS: 7,785,772.72 FOR DISTRIBUTION DATE: 5/17/99 FOR DETERMINATION DATE: 5/10/99 FOR COLLECTION PERIOD: 4/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 164,462,849.97 Principal portion of payments collected (non-prepayments) 2,217,026.99 Prepayments in full allocable to principal 1,998,463.00 Collections allocable to principal 4,215,489.99 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 741,738.95 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 4,957,228.94 Realized Losses 1,495,210.58 Cram Down Losses 0.00 Ending Principal Balance 158,010,410.45 INTEREST Collections allocable to interest 2,689,995.77 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 138,548.01 --------------- Total Interest 2,828,543.78 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 156,239,707.43 Beginning of Period Class B Principal Balance 8,223,141.98 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 21,747,943.51 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 47,327.70 Aggregate Payahead Balance 44,662.03 Aggregate Payahead Balance for preceding Distribution Date 41,500.73 Interest Earned on Payahead Balances 274.17 Scheduled Payments due in Collection Period 5,100,057.05 Scheduled Payments collected in Collection Period 4,907,022.76 Aggregate Amount of Realized Losses for preceding Distribution Date 1,495,210.58 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 1,282.50 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Certificate Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 262 3,262,000.00 60+ days delinquent 277 3,549,000.00 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 6,811,000.00 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 1,680,888.80 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 4.46% Delinquency Ratio for third preceding Determination Date 6.18% Cumulative Defaults for preceding Determination Date 11,341,166.97 Cumulative Net Losses for preceding Determination Date 7,679,872.34 Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) Y CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 6,905,485.76 Liquidation Proceeds 741,738.95 Recoveries 138,548.01 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 7,785,772.72 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 2,217,026.99 Prepayments in full allocable to principal 1,998,463.00 Principal Balance of Liquidated Receivables 2,236,949.53 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 6,452,439.52 Class A Principal Distributable Amount Principal Distributable Amount 6,452,439.52 Times Class A Percentage (95%) 95% --------------- 6,129,817.55 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 6,129,817.55 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 156,239,707.43 Multiplied by Certificate Pass-Through Rate 6.09% Multiplied by 30/360 0.0833333 --------------- Class A Interest Distributable Amount 792,916.52 Class B Principal Distributable Amount Principal Distributable Amount 6,452,439.52 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 322,621.98 Class B Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 8,223,141.98 Multiplied by Certificate Pass-Through Rate 10.34% Multiplied by 30/360 0.0833333 --------------- Class B Coupon Interest Amount 70,856.07 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A Interest Carryover Shortfall from previous period 0.00 Interest on Class A Interest Carryover Shortfall 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(c) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 3,426.31 Servicing Fee (2.0%) 274,104.75 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 47,327.70 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 1,027.89 Trustee's out-of-pocket expenses 1,282.50 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 1,027.89 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 792,916.52 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 792,916.52 (vi) Class B Coupon Interest - Unadjusted 70,856.07 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 70,856.07 (vii) Class A Principal Distributable Amount - Current Month 6,129,817.55 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 6,129,817.55 (viii) Certificate Insurer Premium 51,287.55 Certificate Insurer Premium Supplement 125,091.57 Other Reimbursement Obligations to Certificate Insurer 0.00 (ix) Transition Expenses to successor Servicer 0.00 (x) Class B Principal Distributable Amount - Unadjusted 322,621.98 Class B Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class B Principal Carryover Shortfall (35,015.55) Adjusted Class B Principal Distributable Amount 287,606.42 (xi) Remaining amounts to Collateral Agent for deposit in Spread Account 0.00 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ----------------------------------------------------
CERTIFICATE BALANCE Class A Beginning of Period Principal Balance 156,239,707.43 Class A Principal Distributions 6,129,817.55 Class A End of Period Principal Balance 150,109,889.89 Class B Beginning of Period Principal Balance 8,223,141.98 Class B Principal Distributable Amount 287,606.42 Class B End of Period Principal Balance BEFORE Spread Account Distributions 7,935,535.56 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 7,935,535.56 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 7,785,772.72 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 1,121,113.56 (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) 6,664,659.16 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 6,664,659.16 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 70,856.07 (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) 6,593,803.09 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 6,593,803.09 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 6,129,817.55 (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) 463,985.54 OTHER DEFICIENCIES - INSURANCE (i) Amounts available to make payments for insurance 463,985.54 Certificate Insurer Premium 51,287.55 Certificate Insurer Premium Supplement 125,091.57 Deficiency Amount 0.00 Withdrawal from Spread Account to Cover Deficiency 0.00 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 287,606.42 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 287,606.42 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 322,621.98 (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) (35,015.55) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (35,015.55) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 6,811,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 6,811,000.00 Aggregate Gross Principal Balance as of the close of 172,308,922.51 business on the last day of the Collection Period. Delinquency Ratio 3.95% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 3.95% Delinquency Ratio for second preceding Determination Date 4.46% Delinquency Ratio for third preceding Determination Date 6.18% --------------- Average Delinquency Ratio 4.86% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 11,341,166.97 Current Period Defaulted Receivables 1,680,888.80 --------------- Total 13,022,055.77 Cumulative Defaulted Receivables 13,022,055.77 Original Pool Balance 211,042,290.56 Cumulative Default Ratio 6.17% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 2,236,949.53 Cram Down Losses 0.00 Net Liquidation Proceeds (880,286.96) --------------- Net Liquidation Losses 1,356,662.57 Cumulative Previous Net Losses 7,679,872.34 --------------- Cumulative Net Losses 9,036,534.91 Original Pool Balance 211,042,290.56 Cumulative Net Loss Ratio 4.28% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.46 Weighted Average Remaining Term 45.58 Weighted Average Annual Percentage Rate 20.38% SPREAD ACCOUNT Spread Account Cap 13.5% of Outstanding Certificate Balance 21,336,132.43 19.5% of Outstanding Certificate Balance 30,818,857.96 Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 47,413,627.63 Spread Account Floor 3% of the Initial Certificate Balance 6,331,268.70 Outstanding Certificate Balance 158,045,425.44 Minimum Floor 100,000.00 --------------- Floor Amount 6,331,268.70 Required Spread Account Amount 47,413,627.63 Beginning of Period Spread Account Balance 21,747,943.51 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 25,665,684.12 Earnings on Spread Account Balance 88,070.57 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 21,836,014.08 Reserve Fund Initial Class B Certificate Balance 10,552,114.40 Aggregate Pool Factor 0.7488804 Class B Principal % 5.02% 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 793,553.56 or Cap Amount 1,055,211.40 Reserve Fund Floor Outstanding Class B Certificate Balance 7,935,535.56 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 3,838.90 Amount of Reserve Fund deposit (withdrawal) (3,838.90) 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 5/17/99 Collection Period 4/99 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 $7,427,555.42 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $355,510.79 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $7,072,044.63 (j) The amount of the distribution set forth in paragraph A.1. (g) above, per $1,000 $80.73 (k) The amount of the distribution set forth in paragraph A.1. (h) above, per $1,000 $3.86 (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 $197,970,323.25 (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 $173,322,968.63 (c) The Note Pool Factor as of the close of business on the last day set forth above 0.8754998 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 $383,723.40 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $4,124.38 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $10.66 (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 $191,636,800.00 Spread Account Balance $19,968,366.17 (b) The change in the spread account on the Distribution Date set forth above $83,526.41 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 $241,564.82 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,452,670.82 (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 318 Aggregate Gross Amount $3,909,000.00 (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 $1,335,000.00 7 Performance Triggers (a) Delinquency Ratio 2.51% (b) Average Delinquency Ratio 3.25% (c) Cumulative Default Ratio 4.34% (d) Cumulative Net Loss Ratio 3.80% (e) Is a Portfolio Performance Test violation continuing? No (f) Has an Insurance Agreement Event of Default occurred? Yes
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: 8,684,483.86 LOCK BOX NSF ITEMS: (109,506.58) TOTAL COLLECTION PROCEEDS: 8,574,977.28 FOR DISTRIBUTION DATE: 5/17/99 FOR DETERMINATION DATE: 5/10/99 FOR COLLECTION PERIOD: 4/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 197,970,323.25 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 197,970,323.25 Principal portion of payments collected (non-prepayments) 2,399,309.38 Prepayments in full allocable to principal 1,693,433.00 Collections allocable to principal 4,092,742.38 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 788,110.05 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 4,880,852.43 Realized Losses 1,452,670.82 Cram Down Losses 0.00 Ending Principal Balance 191,636,800.00 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 3,408,352.12 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 285,772.73 --------------- Total Interest 3,694,124.85 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 0.00 Beginning of Period Class A-2 Principal Balance 72,863,013.26 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 19,884,839.76 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 53,772.86 Scheduled Payments due in Collection Period 5,997,902.29 Scheduled Payments collected in Collection Period 5,807,661.50 Aggregate Amount of Realized Losses for preceding Distribution Date 1,452,670.82 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 1,172.76 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 318 3,909,000.00 60 - 89 days delinquent 105 1,335,000.00 90 - 119 days delinquent 79 1,011,000.00 120+ days delinquent 52 653,000.00 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 5,244,000.00 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 1,643,583.17 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 2.95% Delinquency Ratio for third preceding Determination Date 4.29% Cumulative Defaults for preceding Determination Date 8,776,538.22 Cumulative Net Losses for preceding Determination Date 8,149,222.47 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) Y CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 7,501,094.50 Liquidation Proceeds 788,110.05 Recoveries 285,772.73 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 0.00 Investment earnings from Prefunding Account 0.00 Investment earnings from Interest Reserve Account N/A Investment earnings from Collection Account 28,586.24 --------------- TOTAL DISTRIBUTION AMOUNT 8,603,563.52 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 2,399,309.38 Prepayments in full allocable to principal 1,693,433.00 Principal Balance of Liquidated Receivables 2,240,780.87 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 6,333,523.25 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 191,636,800.00 --------------- 172,473,120.00 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 91.1% On Payment Date when Class A-2 Notes will be reduced to 0 40.4% --------------- 98.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 6,333,523.25 Times Class A Noteholders' Percentage 91.1% --------------- 5,769,839.68 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 5,769,839.68 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 0.0888889 --------------- Class A Interest Distributable Amount 0.00 Class A-2 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 72,863,013.26 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 355,510.79 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 8,603,563.52 minus Class A Principal and Interest Distributable Amount 6,668,408.43 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Trustee and Collateral Agent distributions 3,537.54 Standby Servicer distributions 4,124.38 Servicer distributions 383,723.40 Insurance and Reimbursement Obligations 241,564.82 --------------- 1,302,204.95 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 4,124.38 Servicing Fee (2.0%) 329,950.54 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 53,772.86 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 1,237.31 Indenture Trustee's out-of-pocket expenses 1,172.76 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 1,127.47 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v)(A) Class A-1 Interest Distributable Amount - Current Month 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 355,510.79 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 355,510.79 (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 5,769,839.68 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 5,769,839.68 Class A Principal Distribution Amount to Class A-1 0.00 Class A Principal Distribution Amount to Class A-2 5,769,839.68 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 96,043.85 Note Insurer Premium Supplement 145,520.98 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 1,302,204.95 Amount to Class A-1 Noteholders 0.00 Amount to Class A-2 Noteholders 1,302,204.95 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 ----------------------------------------------------
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 72,863,013.26 Class A-2 Principal Distributions 5,769,839.68 Class A-2 End of Period Principal Amount (prior to turbo) 67,093,173.58 Additional Principal Distribution 1,302,204.95 Class A-2 End of Period Principal Amount 65,790,968.63 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 8,603,563.52 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (i) and (v)A 391,385.32 (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) 8,212,178.20 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (v) B 8,212,178.20 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (v) B 355,510.79 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 7,856,667.41 CLASS A-3 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (vi) A 7,856,667.41 (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) 7,731,771.58 CLASS A-4 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (vi) and (x) 7,731,771.58 (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) 7,313,609.45 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a) (vii) 7,313,609.45 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (vii) 5,769,839.68 (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) 1,543,769.77 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.8(a) (viii) 1,543,769.77 (vi) Note Insurer Premium 96,043.85 (v) Note Insurer Premium Supplement 145,520.98 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) 1,302,204.95 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 5,244,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 5,244,000.00 Aggregate Gross Principal Balance as of the close of 208,526,965.02 business on the last day of the Collection Period. DELINQUENCY RATIO 2.51% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 2.51% Delinquency Ratio for second preceding Determination Date 2.95% Delinquency Ratio for third preceding Determination Date 4.29% ---------------- Average Delinquency Ratio 3.25% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 8,776,538.22 Current Period Defaulted Receivables 1,643,583.17 --------------- Total 10,420,121.39 Cumulative Defaulted Receivables 10,420,121.39 Original Pool Balance 240,339,160.19 Cumulative Default Ratio 4.34% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of 120+ Delinquent Losses: Principal Balance of Delinquent Accts > 120 days 653,000.00 Principal Balance of Delinquent Accts > 90 < 120 days 1,011,000.00 Estimated Loss % 50% --------------- Estimated Loss $'s 1,158,500.00 Calculation of Net Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 2,240,780.87 Cram Down Losses 0.00 Net Liquidation Proceeds (1,073,882.78) --------------- Net Losses 2,325,398.09 Cumulative Previous Net Losses 8,149,222.47 Less: Previous Month's Delinquency Loss Estimate (1,338,000.00) --------------- Cumulative Net Losses 9,136,620.56 Original Pool Balance 240,339,160.19 Cumulative Net Loss Ratio 3.80% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.60 Weighted Average Remaining Term 47.65 Weighted Average Annual Percentage Rate 20.43% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 191,636,800.00 minus the Securities Balance 173,322,968.63 --------------- 18,313,831.37 divided by the Aggregate Principal Balance 9.56% Floor OC Percent Aggregate Principal Balance 191,636,800.00 minus the Securities Balance 173,322,968.63 --------------- 18,313,831.37 divided by the initial Aggregate Principal Balance 240,339,160.19 --------------- 7.62% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 173,322,968.63 (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 191,636,800.00 --------------- 191,636,800.00 Requisite Amount 191,636,800.00 Does a Trigger Event exist? N Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) Y Required Spread Account Amount 191,636,800.00 Beginning of Period Spread Account Balance 19,884,839.76 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 171,751,960.24 Earnings on Spread Account Balance 83,526.41 Amount of Spread Account deposit (withdrawal) 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 19,968,366.17 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 5/17/99 Collection Period 4/99 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 $4,906,045.42 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $73,716.00 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $4,832,329.42 (d) The amount of total the distribution set forth in paragraph A.1. (a) above, per $1,000 $150.96 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $2.27 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $148.69 (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 $2,954,037.92 (t) The amount of the distribution set forth in paragraph A.1. (s) above in respect of interest $431,223.63 (u) The amount of the distribution set forth in in paragraph A.1. (s) above in respect of principal $2,522,814.29 (v) The amount of the distribution set forth in paragraph A.1. (s) above, per $1,000 $29.54 (w) The amount of the distribution set forth in paragraph A.1. (t) above, per $1,000 $4.31 (x) The amount of the distribution set forth in paragraph A.1. (u) above, per $1,000 $25.23 (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 $283,596,130.40 (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 $276,240,986.69 (c) The Note Pool Factor as of the close of business on the last day set forth above 0.9740647 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 $532,856.94 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $5,908.25 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $16.40 (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 0 Aggregate Purchase Amount $0.00 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 $85,634,705.87 Spread Account Balance $22,406,746.95 (b) The change in the spread account on the Distribution Date set forth above $1,983,411.52 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 $559,209.07 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,091,555.15 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 361 Aggregate Gross Amount $4,757,000.00 (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 160 Aggregate Gross Amount $2,081,000.00 7 Performance Triggers. (a) Delinquency Ratio 2.30% (b) Average Delinquency Ratio 2.66% (c) Cumulative Default Ratio 2.33% (d) Cumulative Net Loss Ratio 1.15% (e) Is a Portfolio Performance Test violation continuing? No (f) Has an Insurance Agreement Event of Default occurred? Yes
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: 11,760,895.96 LOCK BOX NSF ITEMS: (121,185.28) TOTAL COLLECTION PROCEEDS: 11,639,710.68 FOR DISTRIBUTION DATE: 5/17/99 FOR DETERMINATION DATE: 5/10/99 FOR COLLECTION PERIOD: 4/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 283,596,130.40 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 283,596,130.40 Principal portion of payments collected (non-prepayments) 3,610,421.21 Prepayments in full allocable to principal 2,056,728.00 Collections allocable to principal 5,667,149.21 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 596,439.35 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 6,263,588.56 Realized Losses 1,091,555.15 Cram Down Losses 0.00 Ending Principal Balance 276,240,986.69 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 5,340,660.80 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 35,461.32 --------------- Total Interest 5,376,122.12 NOTE INFORMATION Beginning of Period Class A-1 Principal Balance 15,152,657.67 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 90,943,472.73 Beginning of Period Class A-5 Principal Balance 18,625,000.00 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 20,423,335.44 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 60,196.72 Scheduled Payments due in Collection Period 8,321,061.42 Scheduled Payments collected in Collection Period 8,951,082.01 Aggregate Amount of Realized Losses for preceding Distribution Date 1,091,555.15 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 1,203.96 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Note Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 361 4,757,000.00 60 - 89 days delinquent 160 2,081,000.00 90 - 119 days delinquent 85 981,000.00 120+ days delinquent 69 847,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 0 0.00 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close of business on the last day of the related Collection Period. 6,838,000.00 Principal Balance of all Receivables that became Purchased Receivables as of the close of business on the last day of the related Collection Period and that were delinquent 30 days or more. 0.00 Principal Balance of all Receivables that became Defaulted Receivables during the related Collection Period. 1,897,771.89 Delinquency Ratio for second preceding Determination Date 2.41% Delinquency Ratio for third preceding Determination Date 3.26% Cumulative Defaults for preceding Determination Date 5,323,165.54 Cumulative Net Losses for preceding Determination Date 2,669,567.98 Does a Trigger Event Exist? N Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) Y 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) 11,007,810.01 Liquidation Proceeds 596,439.35 Recoveries 35,461.32 Purchase Amounts 0.00 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 52,565.82 Investment earnings from Interest Reserve Account 1.25 Investment earnings from Collection Account 39,573.32 --------------- TOTAL DISTRIBUTION AMOUNT 11,731,851.07 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 3,610,421.21 Prepayments in full allocable to principal 2,056,728.00 Principal Balance of Liquidated Receivables 1,687,994.50 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 7,355,143.71 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 7,355,143.71 Sequential Pay Noteholders Percentage 65.7% --------------- Sequential Pay Noteholders' Principal Distributable Amount 4,832,329.42 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 7,355,143.71 Class A-4 Noteholders Percentage 34.3% --------------- Class A-4 Noteholders' Principal Distributable Amount 2,522,814.29 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 15,152,657.67 Multiplied by the Note Rate 5.4730% Multiplied by actual/360, or for the first Distribution Date, by 11/360 0.0888889 --------------- Class A Interest Distributable Amount 73,716.00 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 90,943,472.73 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 431,223.63 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 11,731,851.07 minus Class A Principal and Interest Distributable Amount 8,714,682.30 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Trustee and Collateral Agent distributions 4,748.92 Standby Servicer distributions 5,908.25 Servicer distributions 532,856.94 Insurance and Reimbursement Obligations 559,209.07 --------------- 1,914,445.59 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 5,908.25 Backup Servicer Fee 6,500.00 Servicing Fee (2.0%) 472,660.22 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 60,196.72 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Indenture Trustee Fee 1,772.48 Indenture Trustee's out-of-pocket expenses 1,203.96 Unpaid Indenture Trustee Fee from prior Collection Periods 0.00 Unpaid Indenture Trustee's out-of-pocket exp. - prior Collection Periods 0.00 Owner Trustee Fee 0.00 Owner Trustee's out-of-pocket expenses 0.00 Unpaid Owner Trustee Fee from prior Collection Periods 0.00 Unpaid Owner Trustee's out-of-pocket exp - prior Collection Periods 0.00 (iv) Collateral Agent Fee 1,772.48 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 73,716.00 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 73,716.00 (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 431,223.63 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 431,223.63 (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 4,832,329.42 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Total Adjusted Distributable Amount 4,832,329.42 Class A Principal Distribution Amount to Class A-1 4,832,329.42 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 2,522,814.29 Class A Principal Distribution Amount to Class A-5 0.00 (viii) Note Insurer Premium 115,100.41 Short-Term Reinsurance 33,074.51 Long-Term Reinsurance 180,833.33 Note Insurer Premium Supplement 230,200.82 Other Reimbursement Obligations to Note Insurer 0.00 (ix) Transition Expenses to successor Servicer 0.00 Spread Account Deposit (withdrawal) 1,907,945.59
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 15,152,657.67 Class A-1 Principal Distributions 4,832,329.42 Class A-1 End of Period Principal Amount 10,320,328.26 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 90,943,472.73 Class A-4 Principal Distributable Amount 2,522,814.29 Class A-4 End of Period Principal Amount 88,420,658.44 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 276,240,986.69 CLASS A-1 DEFICIENCY - INTEREST (i) Total Distribution Amount Available 11,731,851.07 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(i) thru (v)A 623,730.11 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 11,108,120.96 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)B 11,108,120.96 (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) 10,734,183.46 CLASS A-3 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)C 10,734,183.46 (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) 10,344,939.71 CLASS A-4 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)D 10,344,939.71 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)D 431,223.63 (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) 9,913,716.08 CLASS A-5 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)E 9,913,716.08 (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) 9,822,298.37 SEQUENTIAL PAY NOTES DEFICIENCY - PRINCIPAL (A-1, A-2 & A-3) (i) Amounts available to make payments pursuant to Section 5.7(a)(vi) 9,822,298.37 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(vi) 4,832,329.42 (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) 4,989,968.95 CLASS A-4 DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.7(a)(vii) 4,989,968.95 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(vii) 2,522,814.29 (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) 2,467,154.66 CLASS A-5 DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.7(a)(vii) 2,467,154.66 (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) 2,467,154.66 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.7(a)(viii) 2,467,154.66 (vi) Note Insurer Premium 559,209.07 (v) Note Insurer Premium Supplement 230,200.82 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) 1,677,744.77 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 6,838,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 6,838,000.00 Aggregate Gross Principal Balance as of the close of business on the last day of the Collection Period. 297,226,043.28 DELINQUENCY RATIO 2.30% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 2.30% Delinquency Ratio for second preceding Determination Date 2.41% Delinquency Ratio for third preceding Determination Date 3.26% --------------- Average Delinquency Ratio 2.66% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 5,323,165.54 Current Period Defaulted Receivables 1,897,771.89 --------------- Total 7,220,937.43 Cumulative Defaulted Receivables 7,220,937.43 Original Pool Balance 275,647,271.04 Add: Subsequent Receivables 34,352,728.96 --------------- Total Original Balance 310,000,000.00 Cumulative Default Ratio 2.33% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of 120+ Delinquent Losses: Principal Balance of Delinquent Accts > 120 days 847,000.00 Principal Balance of Delinquent Accts >90 <120 days 981,000.00 Estimated Loss % 50% ---------------- Estimated Loss $'s 1,337,500.00 Calculation of Net Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,687,994.50 Cram Down Losses 0.00 Net Liquidation Proceeds (631,900.67) --------------- Net Losses 2,393,593.83 Cumulative Previous Net Losses 2,669,567.98 Less: Previous Month's Delinquency Loss Estimate (1,511,500.00) --------------- Cumulative Net Losses 3,551,661.81 Original Pool Balance 310,000,000.00 Cumulative Net Loss Ratio 1.15% 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 ---------------------------------
ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.84 Weighted Average Remaining Term 50.34 Weighted Average Annual Percentage Rate 20.24% SPREAD ACCOUNT Spread Account Cap Current Spread Account % 7.4% 21.0% of Outstanding Notes Balance if no Trigger Event 58,010,607.21 26.0% of Outstanding Notes Balance if a Trigger Event Exists 71,822,656.54 31.0% of Outstanding Notes Balance if an Insurance Event of Default 85,634,705.87 Is a Trigger Event continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) Y Requisite Amount 85,634,705.87 Spread Account Floor 2.5% of the Initial Certificate Balance 7,750,000.00 Outstanding Certificate Balance 276,240,986.69 Minimum Floor 100,000.00 --------------- Floor Amount 7,750,000.00 Required Spread Account Amount 85,634,705.87 Beginning of Period Spread Account Balance 20,423,335.44 Additional Deposit for Subsequent Receivables Transfer 0.00 Spread Account Deposit (Withdrawal) from Current Distributions 1,907,945.59 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 63,303,424.85 Earnings on Spread Account Balance 75,465.93 Amount of Spread Account deposit (withdrawal) 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 22,406,746.95