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) June 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 20.36 Monthly Servicing Report for the May 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: June 21, 1999 By: /s/ Jeffrey P. Fritz Name: Jeffrey P. Fritz Title: Chief Financial Officer INDEX TO EXHIBITS Exhibit Sequential No. Document Description Page No. 20.36 Monthly Servicing Report for the May 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 6/15/99 Collection Period 5/99 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 $1,367,440.18 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $106,107.89 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,261,332.29 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $16.19 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $1.26 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $14.93 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $80,108.66 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $8,573.81 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $71,534.85 (j) Scheduled Payments due in such Collection Period $1,119,480.79 (k) Scheduled Payments collected in such Collection Period $1,014,700.41 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 $20,155,040.04 (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 $18,827,321.81 (c) The Pool factor as of the close of business on the last day set forth above 0.9341248 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 $48,349.65 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $1,343.67 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.57 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $0.02 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (c) above $0.00 4 Payahead Account. (a) The aggregate Payahead Balance on the prior Distribution Date $19,721.17 (b) Distributions (to) from Collection Account ($4,841.55) for Payaheads (c) Interest earned on Payahead Balances $78.62 (d) Ending Payahead Account Balance $14,958.24 5 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $17,885,955.74 Spread Account Balance $5,987,878.25 (b) The change in the spread account on the Distribution Date set forth above $64,423.17 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 $36,077.78 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $209,742.01 (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 96 Aggregate Gross Amount $557,000.00 (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 63 Aggregate Gross Amount $471,000.00 8 Performance Triggers. (a) Delinquency Ratio 5.04% (b) Average Delinquency Ratio 4.66% (c) Cumulative Default Ratio 19.41% (d) Cumulative Net Loss Ratio 14.59% (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: 1,547,009.97 LOCK BOX NSF ITEMS: (17,865.22) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 4,841.55 COLLECTION ACCOUNT INTEREST 5,486.48 PAYAHEAD ACCOUNT INTEREST 78.62 TOTAL COLLECTION PROCEEDS: 1,539,551.40 FOR DISTRIBUTION DATE: 6/15/99 FOR DETERMINATION DATE: 6/8/99 FOR COLLECTION PERIOD: 5/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 20,155,040.04 Principal portion of payments collected (non-prepayments) 683,635.89 Prepayments in full allocable to principal 353,064.00 Collections allocable to principal 1,036,699.89 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 81,276.29 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,117,976.18 Realized Losses 209,742.01 Cram Down Losses 0.00 Ending Principal Balance 18,827,321.84 INTEREST Collections allocable to interest 331,064.52 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 90,510.70 --------------- Total Interest 421,575.22 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 19,147,288.03 Beginning of Period Class B Principal Balance 1,028,857.00 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 5,923,455.08 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 14,757.92 Aggregate Payahead Balance 14,879.62 Aggregate Payahead Balance for preceding Distribution Date 19,721.17 Interest Earned on Payahead Balances 78.62 Scheduled Payments due in Collection Period 1,119,480.79 Scheduled Payments collected in Collection Period 1,014,700.41 Aggregate Amount of Realized Losses for preceding Distribution Date 209,742.01 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 490.79 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to 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 96 557,000.00 60+ days delinquent 63 471,000.00 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 1,028,000.00 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 81,115.08 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 3.87% Delinquency Ratio for third preceding Determination Date 5.06% Cumulative Defaults for preceding Determination Date 17,170,123.51 Cumulative Net Losses for preceding Determination Date 12,851,595.78 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) 1,367,764.41 Liquidation Proceeds 81,276.29 Recoveries 90,510.70 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 1,539,551.40 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 683,635.89 Prepayments in full allocable to principal 353,064.00 Principal Balance of Liquidated Receivables 291,018.30 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 1,327,718.19 Class A Principal Distributable Amount Principal Distributable Amount 1,327,718.19 Times Class A Percentage (95%) 95% --------------- 1,261,332.29 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,261,332.29 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 19,147,288.03 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 106,107.89 Class B Principal Distributable Amount Principal Distributable Amount 1,327,718.19 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 66,385.91 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 1,028,857.00 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 8,573.81 Class B Excess Interest Amount Total Distribution Amount 1,539,551.40 minus Class A Principal and Interest Distributable Amount 1,367,440.18 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 8,573.81 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 66,385.91 Class B Principal Carryover Shortfall 5,148.94 Trustee distributions 742.73 Standby Servicer distributions 1,343.67 Servicer distributions 48,349.65 Collateral Agent distributions 252.20 Reimbursement Obligations 36,077.78 --------------- 5,236.53 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 5,148.94 --------------- 5,148.94 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 1,343.67 Servicing Fee (2.0%) 33,591.73 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 14,757.92 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 251.94 Trustee's out-of-pocket expenses 490.79 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 252.20 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 106,107.89 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 106,107.89 (viii)(A) Class B Coupon Interest - Unadjusted 8,573.81 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 8,573.81 (v)(B) Class A Principal Distributable Amount - Current Month 1,261,332.29 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 1,261,332.29 (vi) Certificate Insurer Premium 5,216.74 Certificate Insurer Premium Supplement 14,904.96 Certificate Insurer Premium Supplement - Prior Month Shortfall 15,956.08 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 66,385.91 Class B Principal Carryover Shortfall - Previous Month(s) 5,148.94 Current Month Class B Principal Shortfall 0.00 Adjustment for Prior Month Overpayment (15,956.08) Adjusted Class B Principal Distributable Amount 71,534.85 (C) Excess Interest Amount for Deposit in Spread Account 5,236.53 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ----------------------------------------------------
CERTIFICATE BALANCE Class A Beginning of Period Principal Balance 19,147,288.03 Class A Principal Distributions 1,261,332.29 Class A End of Period Principal Balance 17,885,955.74 Class B Beginning of Period Principal Balance 1,028,857.00 Class B Principal Distributable Amount 71,534.85 Adjustment for Prior Month Overpayment 15,956.08 Class B End of Period Principal Balance BEFORE Spread Account Distributions 941,366.07 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 941,366.07 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 1,539,551.40 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 156,796.14 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 1,382,755.26 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 1,382,755.26 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 8,573.81 (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) 1,374,181.45 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 1,374,181.45 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,261,332.29 (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) 112,849.16 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 112,849.16 (vi) Certificate Insurer Premium 5,216.74 (v) Certificate Insurer Premium Supplement 14,904.96 Certificate Insurer Premium Supplement - Prior Month Shortfall 15,956.08 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) 76,771.38 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 76,771.38 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 66,385.91 (iii)Prior month(s) carryover shortfalls 5,148.94 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Unadjusted Amount Remaining for Further Distribution/(Deficiency) 5,236.53 Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 5,236.53 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 1,028,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 1,028,000.00 Aggregate Gross Principal Balance as of the close of 20,406,873.85 business on the last day of the Collection Period. DELINQUENCY RATIO 5.04% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 5.04% Delinquency Ratio for second preceding Determination Date 3.87% Delinquency Ratio for third preceding Determination Date 5.06% --------------- Average Delinquency Ratio 4.66% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 17,170,123.51 Current Period Defaulted Receivables 81,115.08 --------------- Total 17,251,238.59 Cumulative Defaulted Receivables 17,251,238.59 Original Pool Balance 88,900,750.37 Cumulative Default Ratio 19.41% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 291,018.30 Cram Down Losses 0.00 Net Liquidation Proceeds (171,786.99) --------------- Net Liquidation Losses 119,231.31 Cumulative Previous Net Losses 12,851,595.78 --------------- Cumulative Net Losses 12,970,827.09 Original Pool Balance 88,900,750.37 Cumulative Net Loss Ratio 14.59% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 54.67 Weighted Average Remaining Term 21.89 Weighted Average Annual Percentage Rate 20.24% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 1,882,732.18 15% of Outstanding Certificate Balance 2,824,098.27 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 17,885,955.74 Spread Account Floor 3% of the Initial Certificate Balance 2,667,022.51 Outstanding Certificate Balance 18,827,321.81 Minimum Floor 100,000.00 --------------- Floor Amount 2,667,022.51 Required Spread Account Amount 17,885,955.74 Beginning of Period Spread Account Balance 5,923,455.08 Spread Account Deposit (Withdrawal) from Current Distributions 5,236.53 Transfer (to) from Cross-Collateralized Spread Accounts 23,463.99 Required addition to/(eligible withdrawal from) Spread Account 11,933,800.14 Earnings on Spread Account Balance 35,722.65 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 5,987,878.25 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1996-2 6.70% ASSET-BACKED CERTIFICATES Distribution Date 6/15/99 Collection Period 5/99 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 $1,530,240.38 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $140,171.23 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,390,069.15 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $17.48 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $1.60 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $15.88 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $47,045.79 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $15,540.83 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $31,504.96 (j) Scheduled Payments due in such Collection Period $1,300,017.17 (k) Scheduled Payments collected in such Collection Period $1,174,158.45 B. Information Regarding the Performance of the Trust. 1 Pool Balance and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $26,426,625.80 (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 $25,313,153.20 (c) The Pool factor as of the close of business on the last day set forth above 0.9578655 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 $56,904.46 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $1,761.78 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.65 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $0.02 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (c) above $0.00 4 Payahead Account. (a) The aggregate Payahead Balance on the prior Distribution Date $19,779.04 (b) Distributions (to) from Collection Account ($1,109.58) for Payaheads (c) Interest earned on Payahead Balances $88.66 (d) Ending Payahead Account Balance $18,758.12 5 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $23,715,225.33 Spread Account Balance $4,906,156.47 (b) The change in the spread account on the Distribution Date set forth above $66,127.60 6 Policy. (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $47,600.71 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $277,361.88 (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 97 Aggregate Gross Amount $822,000.00 (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 54 Aggregate Gross Amount $485,000.00 8 Performance Triggers. (a) Delinquency Ratio 4.77% (b) Average Delinquency Ratio 4.77% (c) Cumulative Default Ratio 19.19% (d) Cumulative Net Loss Ratio 14.52% (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: 1,689,337.98 LOCK BOX NSF ITEMS: (11,739.26) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 1,109.58 COLLECTION ACCOUNT INTEREST 6,064.45 PAYAHEAD ACCOUNT INTEREST 88.66 TOTAL COLLECTION PROCEEDS: 1,684,861.41 FOR DISTRIBUTION DATE: 6/15/99 FOR DETERMINATION DATE: 6/8/99 FOR COLLECTION PERIOD: 5/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 26,426,625.80 Principal portion of payments collected (non-prepayments) 732,220.92 Prepayments in full allocable to principal 366,586.00 Collections allocable to principal 1,098,806.92 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 87,061.89 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,185,868.81 Realized Losses 277,361.88 Cram Down Losses 0.00 Ending Principal Balance 24,963,395.12 INTEREST Collections allocable to interest 441,937.53 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 57,055.07 --------------- Total Interest 498,992.60 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 25,105,294.48 Beginning of Period Class B Principal Balance 1,650,353.91 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 4,840,028.87 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 12,860.08 Aggregate Payahead Balance 18,669.46 Aggregate Payahead Balance for preceding Distribution Date 19,779.04 Interest Earned on Payahead Balances 88.66 Scheduled Payments due in Collection Period 1,300,017.17 Scheduled Payments collected in Collection Period 1,174,158.45 Aggregate Amount of Realized Losses for preceding Distribution Date 277,361.88 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 643.51 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 97 822,000.00 60+ days delinquent 54 485,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 0 0.00 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close 1,307,000.00 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 292,485.49 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 4.41% Delinquency Ratio for third preceding Determination Date 5.12% Cumulative Defaults for preceding Determination Date 17,386,337.11 Cumulative Net Losses for preceding Determination Date 13,154,363.53 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) 1,540,744.45 Liquidation Proceeds 87,061.89 Recoveries 57,055.07 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 1,684,861.41 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 732,220.92 Prepayments in full allocable to principal 366,586.00 Principal Balance of Liquidated Receivables 364,423.77 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 1,463,230.69 Class A Principal Distributable Amount Principal Distributable Amount 1,463,230.69 Times Class A Percentage (95%) 95% --------------- 1,390,069.15 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,390,069.15 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 25,105,294.48 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 140,171.23 Class B Principal Distributable Amount Principal Distributable Amount 1,463,230.69 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 73,161.53 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 1,650,353.91 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 15,540.83 Class B Excess Interest Amount Total Distribution Amount 1,684,861.41 minus Class A Principal and Interest Distributable Amount 1,530,240.38 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 15,540.83 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 73,161.53 Class B Principal Carryover Shortfall 308,101.52 Trustee distributions 973.84 Standby Servicer distributions 1,761.78 Servicer distributions 56,904.46 Collateral Agent distributions 334.45 Reimbursement Obligations 47,600.71 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 308,101.52 --------------- 308,101.52 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 1,761.78 Servicing Fee (2.0%) 44,044.38 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 12,860.08 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Trustee Fee 330.33 Trustee's out-of-pocket expenses 643.51 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 334.45 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v)(A) Class A Interest Distributable Amount - Current Month 140,171.23 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 140,171.23 (viii)(A) Class B Coupon Interest - Unadjusted 15,540.83 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 15,540.83 (v)(B) Class A Principal Distributable Amount - Current Month 1,390,069.15 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 1,390,069.15 (vi) Certificate Insurer Premium 6,916.94 Certificate Insurer Premium Supplement 19,762.69 Certificate Insurer Premium Supplement - Prior Month Shortfall 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 73,161.53 Class B Principal Carryover Shortfall - Previous Month(s) 308,101.52 Current Month Class B Principal Shortfall (349,758.10) Adjustment for Prior Month Overpayment (20,921.08) Adjusted Class B Principal Distributable Amount 31,504.96 (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 25,105,294.48 Class A Principal Distributions 1,390,069.15 Class A End of Period Principal Balance 23,715,225.33 Class B Beginning of Period Principal Balance 1,650,353.91 Class B Principal Distributable Amount 31,504.96 Adjustment for Prior Month Overpayment 20,921.08 Class B End of Period Principal Balance BEFORE Spread Account Distributions 1,597,927.87 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 1,597,927.87 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 1,684,861.41 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 200,145.76 (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) 1,484,715.65 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 1,484,715.65 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 15,540.83 (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) 1,469,174.82 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 1,469,174.82 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,390,069.15 (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) 79,105.67 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 79,105.67 (vi) Certificate Insurer Premium 6,916.94 (v) Certificate Insurer Premium Supplement 19,762.69 Certificate Insurer Premium Supplement - Prior Month Shortfall 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) 31,504.96 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 31,504.96 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 73,161.53 (iii)Prior month(s) carryover shortfalls 308,101.52 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (349,758.10) Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (349,758.10) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 1,307,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 1,307,000.00 Aggregate Gross Principal Balance as of the close of 27,397,850.62 business on the last day of the Collection Period. DELINQUENCY RATIO 4.77% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 4.77% Delinquency Ratio for second preceding Determination Date 4.41% Delinquency Ratio for third preceding Determination Date 5.12% --------------- Average Delinquency Ratio 4.77% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 17,386,337.11 Current Period Defaulted Receivables 292,485.49 --------------- Total 17,678,822.60 Cumulative Defaulted Receivables 17,678,822.60 Original Pool Balance 92,129,299.54 Cumulative Default Ratio 19.19% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 364,423.77 Cram Down Losses 0.00 Net Liquidation Proceeds (144,116.96) --------------- Net Liquidation Losses 220,306.81 Cumulative Previous Net Losses 13,154,363.53 --------------- Cumulative Net Losses 13,374,670.34 Original Pool Balance 92,129,299.54 Cumulative Net Loss Ratio 14.52% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 55.54 Weighted Average Remaining Term 25.34 Weighted Average Annual Percentage Rate 20.42% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 2,531,315.32 15% of Outstanding Certificate Balance 3,796,972.98 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 23,715,225.33 Spread Account Floor 3% of the Initial Certificate Balance 2,763,878.99 Outstanding Certificate Balance 25,313,153.20 Minimum Floor 100,000.00 --------------- Floor Amount 2,763,878.99 Required Spread Account Amount 23,715,225.33 Beginning of Period Spread Account Balance 4,840,028.87 Spread Account Deposit (Withdrawal) from Current Distributions (0.00) Transfer (to) from Cross-Collateralized Spread Accounts 37,076.71 Required addition to/(eligible withdrawal from) Spread Account 18,838,119.75 Earnings on Spread Account Balance 29,050.89 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 4,906,156.47 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1996-3 6.30% ASSET-BACKED CERTIFICATES Distribution Date 6/15/99 Collection Period 5/99 Under the Pooling and Servicing Agreement dated as of December 19, 1996 (the "Agreement") by and among CPS Receivables Corp., Consumer Portfolio Services, Inc. as Servicer, and Norwest Bank Minnesota, National Association, as Trustee and as Collateral Agent, the Servicer is required to prepare certain information each month regarding current distributions to Certificateholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date and Collection Period listed above is set forth below. Certain of the information is presented on the basis of an original principal amount of $1,000 per Certificate, and certain other information is presented based upon the aggregate amounts for the Trust as a whole.
A. Information Regarding the Current Monthly Distribution: 1 Certificates. (a) The aggregate amount of the distribution to Class A Certificateholders on the Distribution Date set forth above $1,867,714.81 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $160,641.86 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,707,072.95 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $21.17 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $1.82 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $19.35 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $18,670.39 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $17,870.98 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $799.41 (j) Scheduled Payments due in such Collection Period $1,427,780.43 (k) Scheduled Payments collected in such Collection Period $1,251,715.32 B. Information Regarding the Performance of the Trust. 1 Pool Balance and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $32,208,893.53 (b) The aggregate balance of the Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c) above $30,977,903.51 (c) The Pool factor as of the close of business on the last day set forth above 0.9617811 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 $68,174.35 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,147.26 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.77 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $0.02 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the 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 $24,465.32 (b) Distributions (to) from Collection Account ($6,007.27) for Payaheads (c) Interest earned on Payahead Balances $92.90 (d) Ending Payahead Account Balance $18,550.95 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 $8,667,412.76 Spread Account Balance $6,050,525.06 (b) The change in the spread account on the Distribution Date set forth above $41,545.89 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 $58,001.50 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $397,478.50 (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 116 Aggregate Gross Amount $1,046,000.00 (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 $895,000.00 8 Performance Triggers. (a) Delinquency Ratio 5.74% (b) Average Delinquency Ratio 5.08% (c) Cumulative Default Ratio 17.74% (d) Cumulative Net Loss Ratio 14.37% (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: 2,043,795.87 LOCK BOX NSF ITEMS: (40,769.76) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 6,007.27 COLLECTION ACCOUNT INTEREST 7,177.84 PAYAHEAD ACCOUNT INTEREST 92.90 TOTAL COLLECTION PROCEEDS: 2,016,304.12 FOR DISTRIBUTION DATE: 6/15/99 FOR DETERMINATION DATE: 6/8/99 FOR COLLECTION PERIOD: 5/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 32,208,893.53 Principal portion of payments collected (non-prepayments) 742,847.84 Prepayments in full allocable to principal 553,342.00 Collections allocable to principal 1,296,189.84 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 103,250.55 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,399,440.39 Realized Losses 397,478.50 Cram Down Losses 0.00 Ending Principal Balance 30,411,974.64 INTEREST Collections allocable to interest 508,867.48 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 107,996.25 --------------- Total Interest 616,863.73 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 30,598,448.82 Beginning of Period Class B Principal Balance 2,112,825.75 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 6,008,979.17 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 14,492.86 Aggregate Payahead Balance 18,458.05 Aggregate Payahead Balance for preceding Distribution Date 24,465.32 Interest Earned on Payahead Balances 92.90 Scheduled Payments due in Collection Period 1,427,780.43 Scheduled Payments collected in Collection Period 1,251,715.32 Aggregate Amount of Realized Losses for preceding Distribution Date 397,478.50 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 784.31 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 116 1,046,000.00 60+ days delinquent 86 895,000.00 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 1,941,000.00 of business on the last day of the related Collection Period. Principal Balance of all Receivables that became Purchased Receivables as of 0.00 the close of business on the last day of the related Collection Period and that were delinquent 30 days or more. Principal Balance of all Receivables that became Defaulted Receivables 273,938.01 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 4.62% Delinquency Ratio for third preceding Determination Date 4.89% Cumulative Defaults for preceding Determination Date 16,199,264.01 Cumulative Net Losses for preceding Determination Date 13,052,018.04 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) 1,805,057.32 Liquidation Proceeds 103,250.55 Recoveries 107,996.25 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 2,016,304.12 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 742,847.84 Prepayments in full allocable to principal 553,342.00 Principal Balance of Liquidated Receivables 500,729.05 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 1,796,918.89 Class A Principal Distributable Amount Principal Distributable Amount 1,796,918.89 Times Class A Percentage (95%) 95% --------------- 1,707,072.95 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,707,072.95 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 30,598,448.82 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 160,641.86 Class B Principal Distributable Amount Principal Distributable Amount 1,796,918.89 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 89,845.94 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 2,112,825.75 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 17,870.98 Class B Excess Interest Amount Total Distribution Amount 2,016,304.12 minus Class A Principal and Interest Distributable Amount 1,867,714.81 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 17,870.98 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 89,845.94 Class B Principal Carryover Shortfall 476,882.36 Trustee distributions 1,186.92 Standby Servicer distributions 2,147.26 Servicer distributions 68,174.35 Collateral Agent distributions 408.89 Reimbursement Obligations 58,001.50 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 476,882.36 --------------- 476,882.36 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 2,147.26 Servicing Fee (2.0%) 53,681.49 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 14,492.86 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) Trustee Fee 402.61 Trustee's out-of-pocket expenses 784.31 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 408.89 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)(A) Class A Interest Distributable Amount - Current Month 160,641.86 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 160,641.86 (viii)(A) Class B Coupon Interest - Unadjusted 17,870.98 Class B Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class B Interest Shortfall 0.00 Adjusted Class B Interest Distributable Amount 17,870.98 (v)(B) Class A Principal Distributable Amount - Current Month 1,707,072.95 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 1,707,072.95 (vi) Certificate Insurer Premium 8,426.65 Certificate Insurer Premium Supplement 24,076.15 Certificate Insurer Premium Supplement - Prior Month Shortfall 25,498.70 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 89,845.94 Class B Principal Carryover Shortfall - Previous Month(s) 476,882.36 Current Month Class B Principal Shortfall (565,928.89) Adjustment for Prior Month Overpayment (25,498.70) Adjusted Class B Principal Distributable Amount 799.41 (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 30,598,448.82 Class A Principal Distributions 1,707,072.95 Class A End of Period Principal Balance 28,891,375.87 Class B Beginning of Period Principal Balance 2,112,825.75 Class B Principal Distributable Amount 799.41 Adjustment for Prior Month Overpayment 25,498.70 Class B End of Period Principal Balance BEFORE Spread Account Distributions 2,086,527.64 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 2,086,527.64 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,016,304.12 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 232,559.28 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 1,783,744.84 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 1,783,744.84 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 17,870.98 (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) 1,765,873.86 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 1,765,873.86 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,707,072.95 (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) 58,800.91 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 58,800.91 (vi) Certificate Insurer Premium 8,426.65 (v) Certificate Insurer Premium Supplement 24,076.15 Certificate Insurer Premium Supplement - Prior Month Shortfall 25,498.70 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) 799.41 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 799.41 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 89,845.94 (iii)Prior month(s) carryover shortfalls 476,882.36 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (565,928.89) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (565,928.89) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 1,941,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 1,941,000.00 Aggregate Gross Principal Balance as of the close of 33,803,807.77 business on the last day of the Collection Period. DELINQUENCY RATIO 5.74% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 5.74% Delinquency Ratio for second preceding Determination Date 4.62% Delinquency Ratio for third preceding Determination Date 4.89% --------------- Average Delinquency Ratio 5.08% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 16,199,264.01 Current Period Defaulted Receivables 273,938.01 --------------- Total 16,473,202.02 Cumulative Defaulted Receivables 16,473,202.02 Original Pool Balance 92,857,811.12 Cumulative Default Ratio 17.74% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 500,729.05 Cram Down Losses 0.00 Net Liquidation Proceeds (211,246.80) --------------- Net Liquidation Losses 289,482.25 Cumulative Previous Net Losses 13,052,018.04 --------------- Cumulative Net Losses 13,341,500.29 Original Pool Balance 92,857,811.12 Cumulative Net Loss Ratio 14.37% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.03 Weighted Average Remaining Term 28.35 Weighted Average Annual Percentage Rate 20.46% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 3,097,790.35 15% of Outstanding Certificate Balance 4,646,685.53 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 8,667,412.76 Spread Account Floor 3% of the Initial Certificate Balance 2,785,734.33 Outstanding Certificate Balance 30,977,903.51 Minimum Floor 100,000.00 --------------- Floor Amount 2,785,734.33 Required Spread Account Amount 8,667,412.76 Beginning of Period Spread Account Balance 6,008,979.17 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 5,158.45 Required addition to/(eligible withdrawal from) Spread Account 2,653,275.14 Earnings on Spread Account Balance 36,387.44 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 6,050,525.06 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1997-1 6.55% ASSET-BACKED CERTIFICATES Distribution Date 6/15/99 Collection Period 5/99 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 $2,275,737.88 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $211,088.43 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,064,649.45 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $23.41 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $2.17 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $21.24 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $27,127.00 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $27,127.00 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $0.00 (j) Scheduled Payments due in such Collection Period $1,667,503.71 (k) Scheduled Payments collected in such Collection Period $1,468,431.68 B. Information Regarding the Performance of the Trust. 1 Pool Balance and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $40,708,094.39 (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 $39,367,613.72 (c) The Pool factor as of the close of business on the last day set forth above 0.9670709 2 Servicing Fee and Purchased Receivables. (a) The aggregate amount of the Servicing Fee (exclusive of the Standby Fee paid to the Standby Servicer) paid to the Servicer with respect to the Collection Period set forth above $83,511.61 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,713.87 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.86 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $0.03 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (c) above $0.00 4 Payahead Account. (a) The aggregate Payahead Balance on the prior Distribution Date $29,554.70 (b) Distributions (to) from Collection Account ($14,281.14) for Payaheads (c) Interest earned on Payahead Balances $297.85 (d) Ending Payahead Account Balance $15,571.41 5 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $10,982,412.06 Spread Account Balance $7,240,380.15 (b) The change in the spread account on the Distribution Date set forth above $50,914.67 6 Policy (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $68,558.44 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $467,660.87 (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 153 Aggregate Gross Amount $1,374,000.00 (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 100 Aggregate Gross Amount $1,052,000.00 8 Performance Triggers. (a) Delinquency Ratio 5.65% (b) Average Delinquency Ratio 5.19% (c) Cumulative Default Ratio 18.00% (d) Cumulative Net Loss Ratio 14.23% (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: 2,461,035.95 Lock Box NSF Items: (24,511.92) Transfers from (to) Payahead Account: 14,281.14 Collection Account Interest 8,564.23 Payahead Account Interest 297.85 Total Collection Proceeds: 2,459,667.25 For Distribution Date: 6/15/99 For Determination Date: 6/8/99 For Collection Period: 5/99 COLLATERAL ACTIVITY INFORMATION Principal Beginning Principal Balance 40,708,094.39 Principal portion of payments collected (non-prepayments) 836,003.61 Prepayments in full allocable to principal 700,575.00 Collections allocable to principal 1,536,578.61 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 169,075.73 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,705,654.34 Realized Losses 467,660.87 Cram Down Losses 0.00 Ending Principal Balance 38,534,779.18 INTEREST Collections allocable to interest 632,428.07 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 121,584.84 --------------- Total Interest 754,012.91 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 38,672,689.67 Beginning of Period Class B Principal Balance 2,791,800.75 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 7,189,465.48 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 15,664.79 Aggregate Payahead Balance 15,273.56 Aggregate Payahead Balance for preceding Distribution Date 29,554.70 Interest Earned on Payahead Balances 297.85 Scheduled Payments due in Collection Period 1,667,503.71 Scheduled Payments collected in Collection Period 1,468,431.68 Aggregate Amount of Realized Losses for preceding Distribution Date 467,660.87 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 991.29 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 153 1,374,000.00 60+ days delinquent 100 1,052,000.00 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. 2,426,000.00 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. 303,854.29 Delinquency Ratio for second preceding Determination Date 4.69% Delinquency Ratio for third preceding Determination Date 5.22% Cumulative Defaults for preceding Determination Date 18,115,637.18 Cumulative Net Losses for preceding Determination Date 14,217,371.54 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) 2,169,006.68 Liquidation Proceeds 169,075.73 Recoveries 121,584.84 Purchase Amounts 0.00 Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 0.00 Investment earnings from Payahead Account 0.00 --------------- Total Distribution Amount 2,459,667.25 DISTRIBUTABLE AMOUNT PRINCIPAL DISTRIBUTABLE AMOUNT Principal portion of payments collected (non-prepayments) 836,003.61 Prepayments in full allocable to principal 700,575.00 Principal Balance of Liquidated Receivables 636,736.60 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,173,315.21 CLASS A PRINCIPAL DISTRIBUTABLE AMOUNT Principal Distributable Amount 2,173,315.21 Times Class A Percentage (95%) 95% --------------- 2,064,649.45 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,064,649.45 CLASS A INTEREST DISTRIBUTABLE AMOUNT Beginning of Period Principal Balance of the Certificates 38,672,689.67 Multiplied by Certificate Pass-Through Rate 6.55% Multiplied by 30/360, or for the first Distribution Date, by 29/360 0.0833333 --------------- Class A Interest Distributable Amount 211,088.43 CLASS B PRINCIPAL DISTRIBUTABLE AMOUNT Principal Distributable Amount 2,173,315.21 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 108,665.76 CLASS B COUPON INTEREST AMOUNT Beginning of Period Principal Balance of the Certificates 2,791,800.75 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 27,127.00 CLASS B EXCESS INTEREST AMOUNT Total Distribution Amount 2,459,667.25 minus Class A Principal and Interest Distributable Amount 2,275,737.88 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 27,127.00 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 108,665.76 Class B Principal Carryover Shortfall 724,168.78 Trustee distributions 1,500.14 Standby Servicer distributions 2,713.87 Servicer distributions 83,511.61 Collateral Agent distributions 518.31 Reimbursement Obligations 68,558.44 --------------- 0.00 Carryover Shortfalls from Prior Periods Class B Principal Carryover Shortfall from previous period 724,168.78 --------------- 724,168.78 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 ---------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 ---------------- 0.00 Class A Interest Carryover Shortfall from previous period 0.00 Interest on Class A Interest Carryover Shortfall 0.00 ---------------- 0.00 Interest Carryover on Class A Interest Shortfall 0.00 Interest Earned 0.00 ---------------- 0.00
CALCULATIONS DISTRIBUTIONS (Pursuant to Section 4.6(c) of the Pooling and Servicing Agreement): Use --- (i) Standby Fee 2,713.87 Servicing Fee (2.0%) 67,846.82 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 15,664.79 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 508.85 Trustee's out-of-pocket expenses 991.29 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 518.31 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 211,088.43 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 211,088.43 (viii)(A) Class B Coupon Interest - Unadjusted 27,127.00 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 27,127.00 (v)(B) Class A Principal Distributable Amount - Current Month 2,064,649.45 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount 2,064,649.45 (vi) Certificate Insurer Premium 10,677.35 Certificate Insurer Premium Supplement 30,506.70 Certificate Insurer Premium Supplement - Prior Month Shortfall Paid 27,374.39 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 108,665.76 Class B Principal Carryover Shortfall - Previous Month(s) 724,168.78 Current Month Class B Principal Shortfall (832,834.54) Adjustment for Prior Month Overpayment (27,374.39) Adjusted Class B Principal Distributable Amount 0.00 (C) Excess Interest Amount for Deposit in Spread Account (0.00) IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ----------------------------------------------------
CERTIFICATE BALANCE Class A Beginning of Period Principal Balance 38,672,689.67 Class A Principal Distributions 2,064,649.45 Class A End of Period Principal Balance 36,608,040.22 Class B Beginning of Period Principal Balance 2,791,800.75 Class B Principal Distributable Amount 0.00 Adjustment for Prior Month Overpayment 32,227.24 Class B End of Period Principal Balance BEFORE Spread Account Distributions 2,759,573.50 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 2,759,573.50 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,459,667.25 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 299,332.36 (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) 2,160,334.89 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 2,160,334.89 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 27,127.00 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 2,133,207.89 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,133,207.89 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,064,649.45 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 68,558.44 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 68,558.44 (vi) Certificate Insurer Premium 10,677.35 (v) Certificate Insurer Premium Supplement 30,506.70 Certificate Insurer Premium Supplement - Prior Month Shortfall 32,227.24 Certificate Insurer Premium Supplement Paid in Current Month 57,881.09 Current Month Certificate Insurer Premium Supplement Shortfall (4,852.85) 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) 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) 108,665.76 (iii)Prior month(s) carryover shortfalls 724,168.78 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (832,834.54) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (832,834.54) Prior Month Overpayment Carryover Amount (4,852.85) CALCULATIONS PERFORMANCE MEASURES CALCULATION OF DELINQUENCY RATIO (CURRENT PERIOD) DELINQUENCY AMOUNT Receivables more than 30 days delinquent 2,426,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 2,426,000.00 Aggregate Gross Principal Balance as of the close of 42,962,966.19 business on the last day of the Collection Period. DELINQUENCY RATIO 5.65% CALCULATION OF AVERAGE DELINQUENCY RATIO Delinquency Ratio for most recent Determination Date 5.65% Delinquency Ratio for second preceding Determination Date 4.69% Delinquency Ratio for third preceding Determination Date 5.22% --------------- AVERAGE DELINQUENCY RATIO 5.19% CALCULATION OF CUMULATIVE DEFAULT RATIO DEFAULT AMOUNT Principal Balance of Previously Defaulted Receivables 18,115,637.18 Current Period Defaulted Receivables 303,854.29 --------------- Total 18,419,491.47 Cumulative Defaulted Receivables 18,419,491.47 Original Pool Balance 102,327,009.71 CUMULATIVE DEFAULT RATIO 18.00% CALCULATION OF CUMULATIVE NET LOSS RATIO CALCULATION OF NET LIQUIDATION LOSSES Principal Balance plus accrued and unpaid interest of Liquidated Receivables 636,736.60 Cram Down Losses 0.00 Net Liquidation Proceeds (290,660.57) --------------- Net Liquidation Losses 346,076.03 Cumulative Previous Net Losses 14,217,371.54 --------------- Cumulative Net Losses 14,563,447.57 Original Pool Balance 102,327,009.71 CUMULATIVE NET LOSS RATIO 14.23% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.35 Weighted Average Remaining Term 31.13 Weighted Average Annual Percentage Rate 20.50% SPREAD ACCOUNT SPREAD ACCOUNT CAP 10% of Outstanding Certificate Balance 3,936,761.37 15% of Outstanding Certificate Balance 5,905,142.06 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 10,982,412.06 SPREAD ACCOUNT FLOOR 3% of the Initial Certificate Balance 3,069,810.29 Outstanding Certificate Balance 39,367,613.72 Minimum Floor 100,000.00 --------------- FLOOR AMOUNT 3,069,810.29 Required Spread Account Amount 10,982,412.06 Beginning of Period Spread Account Balance 7,189,465.48 Spread Account Deposit (Withdrawal) from Current Distributions (0.00) Transfer (to) from Cross-Collateralized Spread Accounts 7,385.91 Required addition to/(eligible withdrawal from) Spread Account 3,785,560.67 Earnings on Spread Account Balance 43,528.76 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 7,240,380.15 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1997-2 6.65% ASSET-BACKED CERTIFICATES Distribution Date 6/15/99 Collection Period 5/99 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 $2,593,270.89 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $290,522.90 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,302,747.99 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $22.87 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $2.56 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $20.31 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $63,088.36 (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 $29,422.11 (j) Scheduled Payments due in such Collection Period $2,136,584.08 (k) Scheduled Payments collected in such Collection Period $1,915,911.53 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 $55,184,404.62 (b) The aggregate balance of the Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c) above $53,617,615.04 (c) The Pool factor as of the close of business on the last day set forth above 0.9716081 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 $115,291.49 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,678.96 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.02 (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 $29,767.99 (b) Distributions (to) from Collection Account ($13,688.19) for Payaheads (c) Interest earned on Payahead Balances $110.50 (d) Ending Payahead Account Balance $16,190.30 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 $16,085,284.51 Spread Account Balance $9,267,958.84 (b) The change in the spread account on the Distribution Date set forth above $69,284.70 6 Policy. (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $63,212.31 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $546,317.00 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 160 Aggregate Gross Amount $1,612,000.00 (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 116 Aggregate Gross Amount $1,309,000.00 8 Performance Triggers. (a) Delinquency Ratio 4.99% (b) Average Delinquency Ratio 4.86% (c) Cumulative Default Ratio 15.83% (d) Cumulative Net Loss Ratio 12.37% (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: 2,842,997.61 LOCK BOX NSF ITEMS: (25,113.20) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 13,688.19 COLLECTION ACCOUNT INTEREST 9,591.97 PAYAHEAD ACCOUNT INTEREST 110.50 TOTAL COLLECTION PROCEEDS: 2,841,275.07 FOR DISTRIBUTION DATE: 6/15/99 FOR DETERMINATION DATE: 6/8/99 FOR COLLECTION PERIOD: 5/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 55,184,404.62 Principal portion of payments collected (non-prepayments) 1,066,395.98 Prepayments in full allocable to principal 617,432.00 Collections allocable to principal 1,683,827.98 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 193,800.27 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,877,628.25 Realized Losses 546,317.00 Cram Down Losses 0.00 Ending Principal Balance 52,760,459.37 INTEREST Collections allocable to interest 849,515.55 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 114,131.27 --------------- Total Interest 963,646.82 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 52,425,184.40 Beginning of Period Class B Principal Balance 3,531,425.30 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 9,198,674.14 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 23,317.48 Aggregate Payahead Balance 16,079.80 Aggregate Payahead Balance for preceding Distribution Date 29,767.99 Interest Earned on Payahead Balances 110.50 Scheduled Payments due in Collection Period 2,136,584.08 Scheduled Payments collected in Collection Period 1,915,911.53 Aggregate Amount of Realized Losses for preceding Distribution Date 546,317.00 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 1,343.79 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to 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 160 1,612,000.00 60+ days delinquent 116 1,309,000.00 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. 2,921,000.00 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. 474,987.27 Delinquency Ratio for second preceding Determination Date 4.41% Delinquency Ratio for third preceding Determination Date 5.19% Cumulative Defaults for preceding Determination Date 18,424,298.27 Cumulative Net Losses for preceding Determination Date 14,338,263.68 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) 2,533,343.53 Liquidation Proceeds 193,800.27 Recoveries 114,131.27 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 2,841,275.07 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,066,395.98 Prepayments in full allocable to principal 617,432.00 Principal Balance of Liquidated Receivables 740,117.27 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,423,945.25 Class A Principal Distributable Amount Principal Distributable Amount 2,423,945.25 Times Class A Percentage (95%) 95% --------------- 2,302,747.99 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,302,747.99 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 52,425,184.40 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 290,522.90 Class B Principal Distributable Amount Principal Distributable Amount 2,423,945.25 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 121,197.26 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 2,841,275.07 minus Class A Principal and Interest Distributable Amount 2,593,270.89 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 121,197.26 Class B Principal Carryover Shortfall 765,380.51 Trustee distributions 2,033.60 Standby Servicer distributions 3,678.96 Servicer distributions 115,291.49 Collateral Agent distributions 699.46 Reimbursement Obligations 63,212.31 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 765,380.51 --------------- 765,380.51 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 3,678.96 Servicing Fee (2.0%) 91,974.01 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 23,317.48 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 689.81 Trustee's out-of-pocket expenses 1,343.79 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 699.46 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 290,522.90 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 290,522.90 (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 2,302,747.99 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 2,302,747.99 (vi) Certificate Insurer Premium 14,619.04 Certificate Insurer Premium Supplement 41,768.70 Certificate Insurer Premium Supplement - Prior Month Shortfall 6,824.57 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 121,197.26 Class B Principal Carryover Shortfall - Previous Month(s) 765,380.51 Current Month Class B Principal Shortfall (857,155.66) Adjustment for Prior Month Overpayment (6,824.57) Adjusted Class B Principal Distributable Amount 29,422.11 (C) Excess Interest (Shortage) Amount for Deposit to (withdrawal from) Spread Account 0.00 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ----------------------------------------------------
CERTIFICATE BALANCE Class A Beginning of Period Principal Balance 52,425,184.40 Class A Principal Distributions 2,302,747.99 Class A End of Period Principal Balance 50,122,436.42 Class B Beginning of Period Principal Balance 3,531,425.30 Class B Principal Distributable Amount 29,422.11 Adjustment for Prior Month Overpayment 6,824.57 Class B End of Period Principal Balance BEFORE Spread Account Distributions 3,495,178.62 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 3,495,178.62 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,841,275.07 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 412,226.41 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,429,048.66 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 2,429,048.66 (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) 2,395,382.41 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,395,382.41 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,302,747.99 (iii) Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 92,634.42 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 92,634.42 (vi) Certificate Insurer Premium 14,619.04 (v) Certificate Insurer Premium Supplement 41,768.70 Certificate Insurer Premium Supplement - Prior Month Shortfall 6,824.57 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) 29,422.11 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 29,422.11 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 121,197.26 (iii) Prior month(s) carryover shortfalls 765,380.51 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (857,155.66) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (857,155.66) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 2,921,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 2,921,000.00 Aggregate Gross Principal Balance as of the close of 58,560,658.24 business on the last day of the Collection Period. DELINQUENCY RATIO 4.99% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 4.99% Delinquency Ratio for second preceding Determination Date 4.41% Delinquency Ratio for third preceding Determination Date 5.19% --------------- Average Delinquency Ratio 4.86% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 18,424,298.27 Current Period Defaulted Receivables 474,987.27 --------------- Total 18,899,285.54 Cumulative Defaulted Receivables 18,899,285.54 Original Pool Balance 119,362,032.46 Cumulative Default Ratio 15.83% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 740,117.27 Cram Down Losses 0.00 Net Liquidation Proceeds (307,931.54) --------------- Net Liquidation Losses 432,185.73 Cumulative Previous Net Losses 14,338,263.68 --------------- Cumulative Net Losses 14,770,449.41 Original Pool Balance 119,362,032.46 Cumulative Net Loss Ratio 12.37% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.35 Weighted Average Remaining Term 33.53 Weighted Average Annual Percentage Rate 20.42% SPREAD ACCOUNT Spread Account Cap 9% of Outstanding Certificate Balance 4,825,585.35 15% of Outstanding Certificate Balance 8,042,642.26 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 16,085,284.51 Spread Account Floor 3% of the Initial Certificate Balance 3,580,860.93 Outstanding Certificate Balance 53,617,615.04 Minimum Floor 100,000.00 --------------- Floor Amount 3,580,860.93 Required Spread Account Amount 16,085,284.51 Beginning of Period Spread Account Balance 9,198,674.14 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 13,442.45 Required addition to/(eligible withdrawal from) Spread Account 6,873,167.92 Earnings on Spread Account Balance 55,842.25 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 9,267,958.84 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 6/15/99 Collection Period 5/99 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 $3,275,066.69 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $28,545.49 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $3,246,521.20 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $40.52 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $0.35 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $40.16 (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 $115,263.41 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $17,795.96 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $97,467.45 (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 $2,821,825.16 (t) Scheduled Payments collected in such Collection Period $2,424,801.16 B. Information Regarding the Performance of the Trust. 1 Pool, Note and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $77,391,903.82 (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 $68,008,301.63 (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 $65,944,695.40 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8520878 (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 0.0266644 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 $153,310.52 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,869.60 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $1.90 (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 ($62,103.14) (f) The amount of the Certificate Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (q) above ($36,791.56) (g) The amount of the Certificate Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (r) above ($217,998.77) 4 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $22,147,289.43 Spread Account Balance $3,900,305.34 (b) The change in the spread account on the Distribution Date set forth above $58,735.08 5 Policy. (a) The amount paid to the Noteholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Note Insurer on such Distribution Date $72,041.61 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $899,680.73 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 221 Aggregate Gross Amount $2,368,000.00 (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 151 Aggregate Gross Amount $1,732,000.00 7 Performance Triggers (a) Delinquency Ratio 5.01% (b) Average Delinquency Ratio 4.88% (c) Cumulative Default Ratio 14.54% (d) Cumulative Net Loss Ratio 11.37% (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 (62,103.14) INPUTS GROSS COLLECTION PROCEEDS: 3,983,740.95 LOCK BOX NSF ITEMS: (46,725.78) TOTAL COLLECTION PROCEEDS: 3,937,015.17 FOR DISTRIBUTION DATE: 6/15/99 FOR DETERMINATION DATE: 6/8/99 FOR COLLECTION PERIOD: 5/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 77,391,903.82 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 77,391,903.82 Principal portion of payments collected (non-prepayments) 1,334,747.66 Prepayments in full allocable to principal 936,002.00 Collections allocable to principal 2,270,749.66 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 397,175.32 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 2,667,924.98 Realized Losses 899,680.73 Cram Down Losses 0.00 Ending Principal Balance 73,824,298.11 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 1,090,053.50 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 179,036.69 --------------- Total Interest 1,269,090.19 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 5,615,505.99 Beginning of Period Class A-2 Principal Balance 61,668,000.00 Beginning of Period Class B Principal Balance 2,005,178.05 Beginning of Period Certificate Balance 2,063,606.23 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 3,841,570.26 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 24,324.01 Scheduled Payments due in Collection Period 2,821,825.16 Scheduled Payments collected in Collection Period 2,424,801.16 Aggregate Amount of Realized Losses for preceding Distribution Date 899,680.73 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 1,724.66 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 221 2,368,000.00 60+ days delinquent 151 1,732,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 0 0.00 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close of business on the last day of the related Collection Period. 4,100,000.00 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. 504,187.02 Delinquency Ratio for second preceding Determination Date 4.36% Delinquency Ratio for third preceding Determination Date 5.28% Cumulative Defaults for preceding Determination Date 21,299,426.37 Cumulative Net Losses for preceding Determination Date 16,337,520.92 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 6.6015% minus 2.5% 2.50% --------------- 4.1015% divided by 360 0.0114% 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) 3,360,803.16 Liquidation Proceeds 397,175.32 Recoveries 179,036.69 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 47.54 Investment earnings from Prefunding Account 0.00 Investment earnings from Interest Reserve Account 274.51 Investment earnings from Collection Account 13,046.99 --------------- TOTAL DISTRIBUTION AMOUNT 3,950,384.21 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,334,747.66 Prepayments in full allocable to principal 936,002.00 Principal Balance of Liquidated Receivables 1,296,856.05 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 3,567,605.71 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 73,824,298.11 --------------- 66,441,868.30 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 86.4% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 3,567,605.71 Times Class A Noteholders' Percentage 91% --------------- 3,246,521.20 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 3,246,521.20 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 5,615,505.99 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 28,545.49 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 3,567,605.71 Times Class B Percentage 2.5% --------------- Class B Principal Distributable Amount 89,190.14 Certificate Principal Distributable Amount Principal Distributable Amount 3,567,605.71 Times Certificate Percentage 2.5% --------------- Certificate Principal Distributable Amount 89,190.14 Class B Noteholders' Interest Amount Beginning of Period Principal Balance of the Notes 2,005,178.05 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 17,795.96 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 3,950,384.21 minus Class A Principal and Interest Distributable Amount 3,275,066.69 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 17,795.96 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 89,190.14 Class B Principal Carryover Shortfall 70,380.45 Trustee distributions 2,369.59 Standby Servicer distributions 3,869.60 Servicer distributions 153,310.52 Collateral Agent distributions 594.60 Reimbursement Obligations 72,041.61 --------------- 265,765.06 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B and Certificates Principal Carryover Shortfall from previous period 70,380.45 --------------- 70,380.45 Certificates Principal Carryover Shortfall from previous period 128,808.63 --------------- 128,808.63 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 Certificate Interest Carryover Shortfall from pervious perid 18,314.51 Interest on Certificate Interest Carryover Shortfall 162.54 --------------- 18,477.05 Interest Carryover on Certificate 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 3,869.60 Servicing Fee (2.0%) 128,986.51 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 24,324.01 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) Indenture Trustee Fee 644.93 Indenture Trustee's out-of-pocket expenses 1,724.66 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 594.60 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v)(A) Class A-1 Interest Distributable Amount - Current Month 28,545.49 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 28,545.49 (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 17,795.96 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 17,795.96 (vii) Class A Principal Distributable Amount - Current Month 3,246,521.20 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 3,246,521.20 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 18,677.45 Note Insurer Premium Supplement 53,364.15 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 89,190.14 Class B Principal Carryover Shortfall - Previous Month(s) 70,380.45 Current Month Class B Principal Shortfall (62,103.14) Adjusted Class B Principal Distributable Amount 97,467.45 (B) Certificate Interest - Unadjusted 18,314.51 Certificate Interest Carryover Shortfall - Previous Month(s) 18,314.51 Interest on Certificate Interest Shortfall - Previous Month(s) 0.00 Interest on Certificate Interest Carryover from Prior Months 162.54 Current Month Certificate Interest Shortfall (36,791.56) Adjusted Certificate Interest Distributable Amount 0.00 Certificate Principal Distributable Amount - Current Month Unadjusted 89,190.14 Certificate Principal Carryover Shorfall - Previous Month(s) 128,808.63 Current Month Certificate Principal Shortfall (217,998.77) 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 5,615,505.99 Class A-1 Principal Distributions 3,246,521.20 Class A-1 End of Period Principal Amount (prior to turbo) 2,368,984.79 Additional Principal Distribution 0.00 Class A-1 End of Period Principal Amount 2,368,984.79 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 2,005,178.05 Class B Principal Distributable Amount 97,467.45 Class B End of Period Principal Amount BEFORE Spread Account Distributions 1,907,710.60 Allocations of Cash Releases to Cover B Shortfalls 0.00 Class B End of Period Principal Amount AFTER Spread Account Distributions 1,907,710.60 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 3,950,384.21 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(i) and (v)A 188,689.80 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 3,761,694.41 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(v) B 3,761,694.41 (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) 3,433,826.21 CLASS B NOTE DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(vi)A 3,433,826.21 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(v)A 17,795.96 (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 Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 3,416,030.25 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a)(vii) 3,416,030.25 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(vii) 3,246,521.20 (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) 169,509.05 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.8(a)(viii) 169,509.05 (vi) Note Insurer Premium 18,677.45 (v) Note Insurer Premium Supplement 53,364.15 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) 97,467.45 CLASS B NOTES & CERTIFICATES DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) and (x) 97,467.45 (ii) Amounts payable pursuant to Section 5.8(a)(vi) and (x) 89,190.14 (iii) Prior month(s) carryover shortfalls 70,380.45 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Amount Remaining for Further Distribution/ B Notes (Deficiency) (62,103.14) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (62,103.14) 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 18,314.51 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 162.54 If (i) is less than sum of (ii)-(v), there is a Class B Deficiency YES Amount Remaining for Further Distribution/(Deficiency) (36,791.56) 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) 89,190.14 (iii) Prior month(s) carryover shortfalls 128,808.63 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Amount Remaining for Further Distribution/B Notes (Deficiency) (217,998.77) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (217,998.77) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 4,100,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 4,100,000.00 Aggregate Gross Principal Balance as of the close of 81,811,415.55 business on the last day of the Collection Period. DELINQUENCY RATIO 5.01% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 5.01% Delinquency Ratio for second preceding Determination Date 4.36% Delinquency Ratio for third preceding Determination Date 5.28% ---------------- Average Delinquency Ratio 4.88% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 21,299,426.37 Current Period Defaulted Receivables 504,187.02 --------------- Total 21,803,613.39 Cumulative Defaulted Receivables 21,803,613.39 Original Pool Balance 150,000,000.00 Cumulative Default Ratio 14.54% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,296,856.05 Cram Down Losses 0.00 Net Liquidation Proceeds (576,212.01) --------------- Net Liquidation Losses 720,644.04 Cumulative Previous Net Losses 16,337,520.92 --------------- Cumulative Net Losses 17,058,164.96 Original Pool Balance 150,000,000.00 Cumulative Net Loss Ratio 11.37% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.00 Weighted Average Remaining Term 36.10 Weighted Average Annual Percentage Rate 20.36% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 73,824,298.11 minus the Securities Balance 68,008,301.63 --------------- 5,815,996.48 divided by the Aggregate Principal Balance 7.88% Floor OC Percent Aggregate Principal Balance 73,824,298.11 minus the Securities Balance 68,008,301.63 --------------- 5,815,996.48 divided by the initial Aggregate Principal Balance 150,000,000.00 --------------- 3.88% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 68,008,301.63 (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 1.12% if a Trigger Event, 15% minus the OC Percent 7.12% if a Portfolio Performance Event of Default, 30% minus the OC Percent 22.12% if an Insurance Agreement Event of Default, 30% 30.00% 30.00% times the Aggregate Principal Balance 73,824,298.11 --------------- 22,147,289.43 Requisite Amount 22,147,289.43 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 22,147,289.43 Beginning of Period Spread Account Balance 3,841,570.26 Additional Deposit for Subsequent Receivables Transfer 0.00 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 35,714.82 Required addition to/(eligible withdrawal from) Spread Account 18,270,004.35 Earnings on Spread Account Balance 23,020.26 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 3,900,305.34 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 6/15/99 Collection Period 5/99 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 $2,267,353.79 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $33,950.94 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,233,402.85 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $41.79 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $0.63 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $41.16 (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 $59,655.19 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $26,799.85 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $32,855.34 (p) Scheduled Payments due in such Collection Period $2,135,593.53 (q) Scheduled Payments collected in such Collection Period $1,843,349.95 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 $60,736,196.74 (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 $53,790,033.69 (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 $50,786,079.20 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8361748 (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 $3,003,954.50 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0494590 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 $118,483.37 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,036.81 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $2.18 (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 ($89,859.10) 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 $17,484,572.37 Spread Account Balance $3,391,269.07 (b) The change in the spread account on the Distribution Date set forth above $47,669.75 5 Policy. (a) The amount paid to the Noteholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Note Insurer on such Distribution Date $57,134.34 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $717,101.72 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 142 Aggregate Gross Amount $1,620,000.00 (d) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent 60 days or more Number 112 Aggregate Gross Amount $1,309,000.00 7 Performance Triggers. (a) Delinquency Ratio 4.54% (b) Average Delinquency Ratio 4.58% (c) Cumulative Default Ratio 12.34% (d) Cumulative Net Loss Ratio 9.22% (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: 2,766,073.54 LOCK BOX NSF ITEMS: (25,032.41) TOTAL COLLECTION PROCEEDS: 2,741,041.13 FOR DISTRIBUTION DATE: 6/15/99 FOR DETERMINATION DATE: 6/8/99 FOR COLLECTION PERIOD: 5/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 60,736,196.74 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 60,736,196.74 Principal portion of payments collected (non-prepayments) 933,993.25 Prepayments in full allocable to principal 569,705.00 Collections allocable to principal 1,503,698.25 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 233,488.87 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,737,187.12 Realized Losses 717,101.72 Cram Down Losses 0.00 Ending Principal Balance 58,281,907.90 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 $909,356.70 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 94,497.31 --------------- Total Interest $1,003,854.01 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 6,711,883.45 Beginning of Period Class A-2 Principal Balance 46,307,598.60 Beginning of Period Certificate Principal Balance 3,036,809.84 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 3,343,599.32 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 17,256.38 Scheduled Payments due in Collection Period 2,135,593.53 Scheduled Payments collected in Collection Period 1,843,349.95 Aggregate Amount of Realized Losses for preceding Distribution Date 717,101.72 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 1,359.01 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 142 1,620,000.00 60+ days delinquent 112 1,309,000.00 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. 2,929,000.00 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. 516,199.45 Delinquency Ratio for second preceding Determination Date 4.34% Delinquency Ratio for third preceding Determination Date 4.86% Cumulative Defaults for preceding Determination Date 12,542,904.15 Cumulative Net Losses for preceding Determination Date 9,134,661.39 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) 2,413,054.95 Liquidation Proceeds 233,488.87 Recoveries 94,497.31 Purchase Amounts 0.00 Note Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 10,069.54 --------------- TOTAL DISTRIBUTION AMOUNT 2,751,110.67 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 933,993.25 Prepayments in full allocable to principal 569,705.00 Principal Balance of Liquidated Receivables 950,590.59 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,454,288.84 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 58,281,907.90 --------------- 52,453,717.11 Class A Noteholders' Percentage After the Target Payment Date? Yes Will the Class A-2 Notes be reduced to 0? Yes On or Prior to Target Payment Date 95.0% After Target Payment Date, before Payment Date when A-2 reduced to 0 91.0% On Payment Date when Class A-2 Notes will be reduced to 0 82.6% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 2,454,288.84 Times Class A Noteholders' Percentage 91% --------------- 2,233,402.85 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,233,402.85 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 6,711,883.45 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 33,950.94 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 2,454,288.84 Times Certificate Percentage 5.0% --------------- Class B Principal Distributable Amount 122,714.44 Certificateholders' Interest Amount Total Distribution Amount 2,751,110.67 minus Class A Principal and Interest Distributable Amount 2,510,468.68 Beginning of Period Principal Balance of the Certificates 3,036,809.84 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 26,799.85 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 26,799.85 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 122,714.44 Class B Principal Carryover Shortfall 0.00 Trustee distributions 1,865.14 Standby Servicer distributions 3,036.81 Servicer distributions 118,483.37 Collateral Agent distributions 467.14 Reimbursement Obligations 57,134.34 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A-1 Interest Carryover Shortfall from previous period 0.00 Interest on Class A-1 Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A-1 Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A-2 Interest Carryover Shortfall from previous period Interest on Class A-2 Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A-2 Interest Shortfall Interest Earned 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(C) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 3,036.81 Servicing Fee (2.0%) 101,226.99 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 17,256.38 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 506.13 Indenture Trustee's out-of-pocket expenses 1,359.01 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 467.14 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 33,950.94 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 33,950.94 (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 2,233,402.85 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 2,233,402.85 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 14,812.61 Note Insurer Premium Supplement 42,321.73 Other Reimbursement Obligations to Note Insurer 0.00 (ix) Transition Expenses to successor Servicer 0.00 (vi)(A) Certificate Note Interest - Unadjusted 26,799.85 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 26,799.85 (x) Certificate Principal Distributable Amount - Current Month Unadjusted 122,714.44 Certificate Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Certificate Principal Shortfall (89,859.10) Adjusted Certificate Principal Distributable Amount 32,855.34 (xi) Until the Target Payment Date, remaining amount to Class A Noteholders 0.00 Amount to Class A-1 Noteholders 0.00 Amount to Class A-2 Noteholders 0.00 (xiv) After the Target Pmt. Date, remaining amount into Spread Acct. 0.00 Spread Account Withdrawal to cover deficiencies 0.00 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ----------------------------------------------------
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 6,711,883.45 Class A-1 Principal Distributions 2,233,402.85 Class A-1 End of Period Principal Amount (prior to turbo) 4,478,480.60 Additional Principal Distribution 0.00 Class A-1 End of Period Principal Amount 4,478,480.60 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 3,036,809.84 Certificate Principal Distributable Amount 32,855.34 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 3,003,954.50 Withdrawal from Spread Account to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 3,003,954.50 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,751,110.67 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 400,918.29 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,230,192.38 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,350,192.38 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,233,402.85 (iii) Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 116,789.53 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 116,789.53 (vi) Note Insurer Premium 14,812.61 (v) Note Insurer Premium Supplement 42,321.73 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) 59,655.19 CERTIFICATE - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 59,655.19 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 26,799.85 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 32,855.34 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 32,855.34 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 122,714.44 (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) (89,859.10) Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (89,859.10) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 2,929,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 2,929,000.00 Aggregate Gross Principal Balance as of the close of 64,503,283.42 business on the last day of the Collection Period. DELINQUENCY RATIO 4.54% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 4.54% Delinquency Ratio for second preceding Determination Date 4.34% Delinquency Ratio for third preceding Determination Date 4.86% --------------- Average Delinquency Ratio 4.58% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 12,542,904.15 Current Period Defaulted Receivables 516,199.45 --------------- Total 13,059,103.60 Cumulative Defaulted Receivables 13,059,103.60 Original Pool Balance 105,860,630.11 Cumulative Default Ratio 12.34% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 950,590.59 Cram Down Losses 0.00 Net Liquidation Proceeds (327,986.18) --------------- Net Liquidation Losses 622,604.41 Cumulative Previous Net Losses 9,134,661.39 --------------- Cumulative Net Losses 9,757,265.80 Original Pool Balance 105,860,630.11 Cumulative Net Loss Ratio 9.22% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.79 Weighted Average Remaining Term 38.23 Weighted Average Annual Percentage Rate 20.26% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 58,281,907.90 minus the Securities Balance 53,790,033.69 --------------- 4,491,874.20 divided by the Aggregate Principal Balance 7.71% Floor OC Percent Aggregate Principal Balance 58,281,907.90 minus the Securities Balance 53,790,033.69 --------------- 4,491,874.20 divided by the initial Aggregate Principal Balance 105,860,630.11 --------------- 4.24% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 53,790,033.69 (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 58,281,907.90 --------------- 17,484,572.37 Requisite Amount 17,484,572.37 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 17,484,572.37 Beginning of Period Spread Account Balance 3,343,599.32 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 27,780.93 Required addition to/(eligible withdrawal from) Spread Account 14,113,192.12 Earnings on Spread Account Balance 19,888.82 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 3,391,269.07 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 6/15/99 Collection Period 5/99 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 $2,144,388.00 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $81,760.77 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,062,627.23 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $38.46 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $1.47 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $37.00 (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 $138,811.58 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $25,480.41 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $113,331.17 (p) Scheduled Payments due in such Collection Period $1,995,792.35 (q) Scheduled Payments collected in such Collection Period $1,755,648.04 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 $58,045,091.36 (b) The aggregate principal amount of the Securities as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c),(i),(o) above $51,570,279.52 (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 $48,785,364.47 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8404736 (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 $2,784,915.05 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0479785 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 $110,597.19 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,902.25 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $1.98 (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 $16,733,540.41 Spread Account Balance $3,304,528.95 (b) The change in the spread account on the Distribution Date set forth above $91,230.82 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 $56,509.71 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $559,926.60 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 146 Aggregate Gross Amount $1,655,000.00 (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 $1,468,000.00 7 Performance Triggers. (a) Delinquency Ratio 5.11% (b) Average Delinquency Ratio 4.63% (c) Cumulative Default Ratio 10.47% (d) Cumulative Net Loss Ratio 8.18% (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: 2,700,293.61 LOCK BOX NSF ITEMS: (20,540.91) TOTAL COLLECTION PROCEEDS: 2,679,752.70 FOR DISTRIBUTION DATE: 6/15/99 FOR DETERMINATION DATE: 6/8/99 FOR COLLECTION PERIOD: 5/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 58,045,091.36 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 58,045,091.36 Principal portion of payments collected (non-prepayments) 924,181.40 Prepayments in full allocable to principal 565,283.00 Collections allocable to principal 1,489,464.40 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 217,232.33 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,706,696.73 Realized Losses 559,926.60 Cram Down Losses 0.00 Ending Principal Balance 55,778,468.04 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 $831,466.64 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 141,589.33 --------------- Total Interest $973,055.97 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 15,672,991.70 Beginning of Period Class A-2 Principal Balance 35,175,000.00 Beginning of Period Certificate Principal Balance 2,898,246.22 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 3,213,298.13 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 13,855.37 Scheduled Payments due in Collection Period 1,995,792.35 Scheduled Payments collected in Collection Period 1,755,648.04 Aggregate Amount of Realized Losses for preceding Distribution Date 559,926.60 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 1,303.37 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to 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 146 1,655,000.00 60+ days delinquent 121 1,468,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 0 0.00 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close 3,123,000.00 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 452,233.50 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 3.99% Delinquency Ratio for third preceding Determination Date 4.78% Cumulative Defaults for preceding Determination Date 9,566,583.64 Cumulative Net Losses for preceding Determination Date 7,414,608.79 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) 2,320,931.04 Liquidation Proceeds 217,232.33 Recoveries 141,589.33 Purchase Amounts 0.00 Note Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 9,647.78 --------------- TOTAL DISTRIBUTION AMOUNT 2,689,400.48 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 924,181.40 Prepayments in full allocable to principal 565,283.00 Principal Balance of Liquidated Receivables 777,158.93 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,266,623.33 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 55,778,468.04 -------------- 50,200,621.23 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 65.4% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 2,266,623.33 Times Class A Noteholders' Percentage 91% --------------- 2,062,627.23 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,062,627.23 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 15,672,991.70 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 81,760.77 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 2,266,623.33 Times Certificate Percentage 5.0% --------------- Class B Principal Distributable Amount 113,331.17 Certificateholders' Interest Amount Total Distribution Amount 2,689,400.48 minus Class A Principal and Interest Distributable Amount 2,331,988.00 Beginning of Period Principal Balance of the Certificates 2,898,246.22 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 25,480.41 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 25,480.41 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 113,331.17 Class B Principal Carryover Shortfall 0.00 Trustee distributions 1,787.08 Standby Servicer distributions 2,902.25 Servicer distributions 110,597.19 Collateral Agent distributions 447.89 Reimbursement Obligations 56,509.71 --------------- 46,356.78 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 2,902.25 Servicing Fee (2.0%) 96,741.82 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 13,855.37 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Indenture Trustee Fee 483.71 Indenture Trustee's out-of-pocket expenses 1,303.37 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 447.89 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)(A) Class A-1 Interest Distributable Amount - Current Month 81,760.77 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 81,760.77 (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 2,062,627.23 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount to Class A-1 2,062,627.23 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 15,855.24 Note Insurer Premium Supplement 40,654.47 Other Reimbursement Obligations to Note Insurer 0.00 (ix) Transition Expenses to successor Servicer 0.00 (vi)(A)Certificate Note Interest - Unadjusted 25,480.41 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 25,480.41 (x) Certificate Principal Distributable Amount - Current Month Unadjusted 113,331.17 Certificate Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Certificate Principal Shortfall 0.00 Adjusted Certificate Principal Distributable Amount 113,331.17 (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. 46,356.78 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 15,672,991.70 Class A-1 Principal Distributions 2,062,627.23 Class A-1 End of Period Principal Amount (prior to turbo) 13,610,364.47 Additional Principal Distribution 0.00 Class A-1 End of Period Principal Amount 13,610,364.47 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 2,898,246.22 Certificate Principal Distributable Amount 113,331.17 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 2,784,915.05 Withdrawal from Spread Account to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 2,784,915.05 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,689,400.48 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 385,095.18 (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) 2,304,305.30 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,304,305.30 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,062,627.23 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 241,678.07 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 241,678.07 (vi) Note Insurer Premium 15,855.24 (v) Note Insurer Premium Supplement 40,654.47 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) 185,168.36 CERTIFICATE DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 185,168.36 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 25,480.41 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 159,687.95 CERTIFICATE DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 159,687.95 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 113,331.17 (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) 46,356.78 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 3,123,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 3,123,000.00 Aggregate Gross Principal Balance as of the close of 61,097,505.34 business on the last day of the Collection Period. DELINQUENCY RATIO 5.11% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 5.11% Delinquency Ratio for second preceding Determination Date 3.99% Delinquency Ratio for third preceding Determination Date 4.78% ---------------- Average Delinquency Ratio 4.63% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 9,566,583.64 Current Period Defaulted Receivables 452,233.50 --------------- Total 10,018,817.14 Cumulative Defaulted Receivables 10,018,817.14 Original Pool Balance 95,706,307.00 Cumulative Default Ratio 10.47% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 777,158.93 Cram Down Losses 0.00 Net Liquidation Proceeds (358,821.66) --------------- Net Liquidation Losses 418,337.27 Cumulative Previous Net Losses 7,414,608.79 --------------- Cumulative Net Losses 7,832,946.06 Original Pool Balance 95,706,307.00 Cumulative Net Loss Ratio 8.18% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.00 Weighted Average Remaining Term 39.49 Weighted Average Annual Percentage Rate 20.21% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 55,778,468.04 minus the Securities Balance 51,570,279.52 --------------- 4,208,188.51 divided by the Aggregate Principal Balance 7.54% Floor OC Percent Aggregate Principal Balance 55,778,468.04 minus the Securities Balance 51,570,279.52 --------------- 4,208,188.51 divided by the initial Aggregate Principal Balance 95,706,307.00 --------------- 4.40% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 51,570,279.52 (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 1.5% if a Trigger Event, 15% minus the OC Percent 7.5% if a Portfolio Performance Event of Default, 30% minus the OC Percent 22.5% if an Insurance Agreement Event of Default, 30% 30% 30% times the Aggregate Principal Balance 55,778,468.04 --------------- 16,733,540.41 Requisite Amount 16,733,540.41 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 16,733,540.41 Beginning of Period Spread Account Balance 3,213,298.13 Spread Account Deposit (Withdrawal) from Current Distributions 46,356.78 Transfer (to) from Cross-Collateralized Spread Accounts 26,471.46 Required addition to/(eligible withdrawal from) Spread Account 13,447,414.04 Earnings on Spread Account Balance 18,402.58 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 3,304,528.95 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 6/15/99 Collection Period 5/99 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 $5,190,755.59 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $610,710.04 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $4,580,045.55 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $29.23 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $3.44 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $25.79 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $145,192.23 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $54,910.33 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $90,281.90 (j) Scheduled Payments due in such Collection Period $4,212,488.86 (k) Scheduled Payments collected in such Collection Period $3,675,837.70 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 $128,570,533.89 (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 $123,900,206.45 (c) The Pool factor as of the close of business on the last day set forth above 0.9636750 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 $245,949.36 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,678.55 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.38 (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 $35,076.76 (b) Distributions (to) from Collection Account ($8,194.48) for Payaheads (c) Interest earned on Payahead Balances $366.39 (d) Ending Payahead Account Balance $27,248.67 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 $37,170,061.93 Spread Account Balance $22,654,139.25 (b) The change in the spread account on the Distribution Date set forth above $164,305.31 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 $138,135.31 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,239,946.17 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 337 Aggregate Gross Amount $3,860,000.00 (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 266 Aggregate Gross Amount $3,271,000.00 8 Performance Triggers. (a) Delinquency Ratio 5.24% (b) Average Delinquency Ratio 4.80% (c) Cumulative Default Ratio 8.22% (d) Cumulative Net Loss Ratio 6.08% (e) Is a Portfolio Performance Test violation continuing? No (f) Has an Insurance Agreement Event of Default occurred? Yes
CPS AUTO GRANTOR TRUST 1998-1 STATEMENT TO CERTIFICATEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 5,750,941.99 LOCK BOX NSF ITEMS: (50,001.93) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 8,194.48 COLLECTION ACCOUNT INTEREST 18,483.76 PAYAHEAD ACCOUNT INTEREST 366.39 TOTAL COLLECTION PROCEEDS: 5,727,984.69 FOR DISTRIBUTION DATE: 6/15/99 FOR DETERMINATION DATE: 6/8/99 FOR COLLECTION PERIOD: 5/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 128,570,533.89 Principal portion of payments collected (non-prepayments) 1,774,150.92 Prepayments in full allocable to principal 1,248,291.00 Collections allocable to principal 3,022,441.92 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 558,712.49 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 3,581,154.41 Realized Losses 1,239,946.17 Cram Down Losses 0.00 Ending Principal Balance 123,749,433.31 INTEREST Collections allocable to interest 1,901,686.78 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 245,143.50 --------------- Total Interest 2,146,830.28 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 122,142,007.52 Beginning of Period Class B Principal Balance 6,428,526.38 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 22,489,833.94 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 31,665.14 Aggregate Payahead Balance 26,882.28 Aggregate Payahead Balance for preceding Distribution Date 35,076.76 Interest Earned on Payahead Balances 366.39 Scheduled Payments due in Collection Period 4,212,488.86 Scheduled Payments collected in Collection Period 3,675,837.70 Aggregate Amount of Realized Losses for preceding Distribution Date 1,239,946.17 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 3,130.82 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 337 3,860,000.00 60+ days delinquent 266 3,271,000.00 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 7,131,000.00 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 1,110,795.11 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 4.52% Delinquency Ratio for third preceding Determination Date 4.64% Cumulative Defaults for preceding Determination Date 14,249,201.96 Cumulative Net Losses for preceding Determination Date 10,375,516.63 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) 4,924,128.70 Liquidation Proceeds 558,712.49 Recoveries 245,143.50 Purchase Amounts 0.00 Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 0.00 Investment earnings from Payahead Account 0.00 --------------- TOTAL DISTRIBUTION AMOUNT 5,727,984.69 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,774,150.92 Prepayments in full allocable to principal 1,248,291.00 Principal Balance of Liquidated Receivables 1,798,658.66 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 4,821,100.58 Class A Principal Distributable Amount Principal Distributable Amount 4,821,100.58 Times Class A Percentage (95%) 95% --------------- 4,580,045.55 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 4,580,045.55 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 122,142,007.52 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 610,710.04 Class B Principal Distributable Amount Principal Distributable Amount 4,821,100.58 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 241,055.03 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 6,428,526.38 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 54,910.33 Class B Excess Interest Amount Total Distribution Amount 5,727,984.69 minus Class A Principal and Interest Distributable Amount 5,190,755.59 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 54,910.33 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 241,055.03 Class B Principal Carryover Shortfall 0.00 Trustee distributions 4,202.24 Standby Servicer distributions 2,782.31 Servicer distributions 245,949.36 Collateral Agent distributions 1,071.42 Reimbursement Obligations 138,135.31 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A Interest Carryover Shortfall from previous period 0.00 Interest on Class A Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(c) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 2,678.55 Servicing Fee (2.0%) 214,284.22 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 31,665.14 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 1,071.42 Trustee's out-of-pocket expenses 3,130.82 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 1,071.42 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v)(A) Class A Interest Distributable Amount - Current Month 610,710.04 Prior Month(s) Class A Carryover Shortfall 0.00 Class A Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A Interest Carryover Shortfall 0.00 Class A Interest Distributable Amount 610,710.04 (viii)(A)Class B Coupon Interest - Unadjusted 54,910.33 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 54,910.33 (v)(B) Class A Principal Distributable Amount - Current Month 4,580,045.55 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 4,580,045.55 (vi) Certificate Insurer Premium 40,167.00 Certificate Insurer Premium Supplement 97,968.30 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 241,055.03 Class B Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class B Principal Shortfall (150,773.13) Adjusted Class B Principal Distributable Amount 90,281.90 (C)Excess Interest (Shortage) Amount for Deposit to (withdrawal from) Spread Account 0.00 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ----------------------------------------------------
CERTIFICATE BALANCE Class A Beginning of Period Principal Balance 122,142,007.52 Class A Principal Distributions 4,580,045.55 Class A End of Period Principal Balance 117,561,961.97 Class B Beginning of Period Principal Balance 6,428,526.38 Class B Principal Distributable Amount 90,281.90 Class B End of Period Principal Balance BEFORE Spread Account Distributions 6,338,244.48 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 6,338,244.48 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 5,727,984.69 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 864,611.61 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 4,863,373.08 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 4,863,373.08 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 54,910.33 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 4,808,462.75 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 4,808,462.75 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 4,580,045.55 (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) 228,417.20 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 228,417.20 (vi) Certificate Insurer Premium 40,167.00 (v) Certificate Insurer Premium Supplement 97,968.30 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) 90,281.90 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 90,281.90 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 241,055.03 (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) (150,773.13) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (150,773.13) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 7,131,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 7,131,000.00 Aggregate Gross Principal Balance as of the close of 135,963,522.92 business on the last day of the Collection Period. DELINQUENCY RATIO 5.24% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 5.24% Delinquency Ratio for second preceding Determination Date 4.52% Delinquency Ratio for third preceding Determination Date 4.64% --------------- Average Delinquency Ratio 4.80% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 14,249,201.96 Current Period Defaulted Receivables 1,110,795.11 --------------- Total 15,359,997.07 Cumulative Defaulted Receivables 15,359,997.07 Original Pool Balance 186,954,818.61 Cumulative Default Ratio 8.22% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,798,658.66 Cram Down Losses 0.00 Net Liquidation Proceeds (803,855.99) --------------- Net Liquidation Losses 994,802.67 Cumulative Previous Net Losses 10,375,516.63 --------------- Cumulative Net Losses 11,370,319.30 Original Pool Balance 186,954,818.61 Cumulative Net Loss Ratio 6.08% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.10 Weighted Average Remaining Term 42.27 Weighted Average Annual Percentage Rate 20.29% SPREAD ACCOUNT Spread Account Cap 13.5% of Outstanding Certificate Balance 16,726,527.87 18.5% of Outstanding Certificate Balance 22,921,538.19 Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 37,170,061.93 Spread Account Floor 3% of the Initial Certificate Balance 5,608,644.56 Outstanding Certificate Balance 123,900,206.45 Minimum Floor 100,000.00 --------------- Floor Amount 5,608,644.56 Required Spread Account Amount 37,170,061.93 Beginning of Period Spread Account Balance 22,489,833.94 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 28,614.00 Allocations of cash releases from previous pools 0.00 Required addition to/(eligible withdrawal from) Spread Account 14,651,613.99 Earnings on Spread Account Balance 135,691.31 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 22,654,139.25 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1998-2 6.09% CLASS A ASSET-BACKED CERTIFICATES 10.34% CLASS B ASSET-BACKED CERTIFICATES Distribution Date 6/15/99 Collection Period 5/99 Under the Pooling and Servicing Agreement dated as of April 8, 1998 (the "Agreement") by and among CPS Receivables Corp., Consumer Portfolio Services, Inc. as Servicer, and Norwest Bank Minnesota, National Association, as Trustee and as Collateral Agent, the Servicer is required to prepare certain information each month regarding current distributions to Certificateholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date and Collection Period listed above is set forth below. Certain of the information is presented on the basis of an original principal amount of $1,000 per Certificate, and certain other information is presented based upon the aggregate amounts for the Trust as a whole.
A. Information Regarding the Current Monthly Distribution: 1 Certificates. (a) The aggregate amount of the distribution to Class A Certificateholders on the Distribution Date set forth above $5,866,356.31 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $761,807.69 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $5,104,548.62 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $29.26 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $3.80 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $25.46 (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) $68,377.86 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $68,377.86 (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 $4,993,389.63 (k) Scheduled Payments collected in such Collection Period $4,255,733.82 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 $152,905,861.26 (c) The Aggregate Pool factor as of the close of business on the last day set forth above 0.7245271 2 Servicing Fee and Purchased Receivables. (a) The aggregate amount of the Servicing Fee (exclusive of the Standby Fee paid to the Standby Servicer) paid to the Servicer with respect to the Collection Period set forth above $300,480.31 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,291.88 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.50 (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 $44,662.03 (b) Distributions (to) from Collection Account ($17,539.59) for Payaheads (c) Interest earned on Payahead Balances $314.51 (d) Ending Payahead Account Balance $27,436.95 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 $45,871,758.38 Spread Account Balance $21,949,475.42 (b) The change in the spread account on the Distribution Date set forth above $113,461.34 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 $170,381.28 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,407,204.36 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 398 Aggregate Gross Amount $4,745,000.00 (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 273 Aggregate Gross Amount $3,430,000.00 8 Performance Triggers. (a) Delinquency Ratio 4.92% (b) Average Delinquency Ratio 4.44% (c) Cumulative Default Ratio 6.73% (d) Cumulative Net Loss Ratio 4.83% (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 268,660.46 INPUTS GROSS COLLECTION PROCEEDS: 6,432,481.06 LOCK BOX NSF ITEMS: (77,807.51) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 17,539.59 COLLECTION ACCOUNT INTEREST 23,197.97 PAYAHEAD ACCOUNT INTEREST 314.51 TOTAL COLLECTION PROCEEDS: 6,395,725.62 FOR DISTRIBUTION DATE: 6/15/99 FOR DETERMINATION DATE: 6/8/99 FOR COLLECTION PERIOD: 5/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 158,010,410.45 Principal portion of payments collected (non-prepayments) 2,018,654.92 Prepayments in full allocable to principal 1,257,387.00 Collections allocable to principal 3,276,041.92 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 689,962.80 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 3,966,004.72 Realized Losses 1,407,204.36 Cram Down Losses 0.00 Ending Principal Balance 152,637,201.37 INTEREST Collections allocable to interest 2,237,078.90 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 192,642.00 --------------- Total Interest 2,429,720.90 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 150,109,889.89 Beginning of Period Class B Principal Balance 7,935,535.56 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 21,836,014.08 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 37,129.63 Aggregate Payahead Balance 27,122.44 Aggregate Payahead Balance for preceding Distribution Date 44,662.03 Interest Earned on Payahead Balances 314.51 Scheduled Payments due in Collection Period 4,993,389.63 Scheduled Payments collected in Collection Period 4,255,733.82 Aggregate Amount of Realized Losses for preceding Distribution Date 1,407,204.36 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 3,847.71 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to 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 398 4,745,000.00 60+ days delinquent 273 3,430,000.00 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 8,175,000.00 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 1,181,050.66 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 3.95% Delinquency Ratio for third preceding Determination Date 4.46% Cumulative Defaults for preceding Determination Date 13,022,055.77 Cumulative Net Losses for preceding Determination Date 9,036,534.91 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) 5,513,120.82 Liquidation Proceeds 689,962.80 Recoveries 192,642.00 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 6,395,725.62 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 2,018,654.92 Prepayments in full allocable to principal 1,257,387.00 Principal Balance of Liquidated Receivables 2,097,167.16 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 5,373,209.08 Class A Principal Distributable Amount Principal Distributable Amount 5,373,209.08 Times Class A Percentage (95%) 95% --------------- 5,104,548.62 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 5,104,548.62 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 150,109,889.89 Multiplied by Certificate Pass-Through Rate 6.09% Multiplied by 30/360 0.0833333 --------------- Class A Interest Distributable Amount 761,807.69 Class B Principal Distributable Amount Principal Distributable Amount 5,373,209.08 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 268,660.45 Class B Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 7,935,535.56 Multiplied by Certificate Pass-Through Rate 10.34% Multiplied by 30/360 0.0833333 --------------- Class B Coupon Interest Amount 68,377.86 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 3,291.88 Servicing Fee (2.0%) 263,350.68 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 37,129.63 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Trustee Fee 987.57 Trustee's out-of-pocket expenses 3,847.71 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 987.78 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) Class A Interest Distributable Amount - Unadjusted 761,807.69 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 761,807.69 (vi) Class B Coupon Interest - Unadjusted 68,377.86 Class B Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class B Interest Shortfall 0.00 Adjusted Class B Interest Distributable Amount 68,377.86 (vii) Class A Principal Distributable Amount - Current Month 5,104,548.62 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount 5,104,548.62 (viii) Certificate Insurer Premium 49,543.49 Certificate Insurer Premium Supplement 120,837.78 Certificate Insurer Premium Supplement - Prior Month Shortfall 35,015.56 Current Month Certificate Insurer Premium Supplement Shortfall (35,015.56) Other Reimbursement Obligations to Certificate Insurer 0.00 (ix) Transition Expenses to successor Servicer 0.00 (x) Class B Principal Distributable Amount - Unadjusted 268,660.45 Class B Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class B Principal Carryover Shortfall (268,660.46) Adjustment for Prior Month Overpayment 0.00 Adjusted Class B Principal Distributable Amount 0.00 (xi) Remaining amounts to Collateral Agent for deposit in Spread Account (18,985.08) 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 150,109,889.89 Class A Principal Distributions 5,104,548.62 Class A End of Period Principal Balance 145,005,341.26 Class B Beginning of Period Principal Balance 7,935,535.56 Class B Principal Distributable Amount 0.00 Adjustment for Prior Month Overpayment 35,015.56 Class B End of Period Principal Balance BEFORE Spread Account Distributions 7,900,520.00 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 7,900,520.00 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 6,395,725.62 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 1,071,402.94 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 5,324,322.68 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 5,324,322.68 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 68,377.86 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 5,255,944.82 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 5,255,944.82 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 5,104,548.62 (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) 151,396.20 OTHER DEFICIENCIES - INSURANCE (i) Amounts available to make payments for insurance 151,396.20 Certificate Insurer Premium 49,543.49 Certificate Insurer Premium Supplement 120,837.78 Certificate Insurer Premium Supplement - Prior Month Shortfall 35,015.56 Certificate Insurer Premium Supplement Paid in Current Month 120,837.78 Current Month Certificate Insurer Premium Supplement Shortfall (35,015.56) Deficiency Amount (18,985.08) Withdrawal from Spread Account to Cover Deficiency 18,985.08 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) 268,660.45 (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) (268,660.46) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (268,660.46) Prior Month Overpayment Carryover Amount (35,015.56) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 8,175,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 8,175,000.00 Aggregate Gross Principal Balance as of the close of 166,262,270.83 business on the last day of the Collection Period. Delinquency Ratio 4.92% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 4.92% Delinquency Ratio for second preceding Determination Date 3.95% Delinquency Ratio for third preceding Determination Date 4.46% --------------- Average Delinquency Ratio 4.44% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 13,022,055.77 Current Period Defaulted Receivables 1,181,050.66 --------------- Total 14,203,106.43 Cumulative Defaulted Receivables 14,203,106.43 Original Pool Balance 211,042,290.56 Cumulative Default Ratio 6.73% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 2,097,167.16 Cram Down Losses 0.00 Net Liquidation Proceeds (882,604.80) --------------- Net Liquidation Losses 1,214,562.36 Cumulative Previous Net Losses 9,036,534.91 --------------- Cumulative Net Losses 10,251,097.27 Original Pool Balance 211,042,290.56 Cumulative Net Loss Ratio 4.86% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.46 Weighted Average Remaining Term 44.70 Weighted Average Annual Percentage Rate 20.39% SPREAD ACCOUNT Spread Account Cap 13.5% of Outstanding Certificate Balance 20,642,291.27 19.5% of Outstanding Certificate Balance 29,816,642.95 Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 45,871,758.38 Spread Account Floor 3% of the Initial Certificate Balance 6,331,268.70 Outstanding Certificate Balance 152,905,861.26 Minimum Floor 100,000.00 --------------- Floor Amount 6,331,268.70 Required Spread Account Amount 45,871,758.38 Beginning of Period Spread Account Balance 21,836,014.08 Spread Account Deposit (Withdrawal) from Current Distributions (18,985.08) Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 24,054,729.38 Earnings on Spread Account Balance 132,446.42 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 21,949,475.42 Reserve Fund Initial Class B Certificate Balance 10,552,114.40 Aggregate Pool Factor 0.7245271 Class B Principal % 5.17% 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 790,052.00 or Cap Amount 1,055,211.40 Reserve Fund Floor Outstanding Class B Certificate Balance 7,900,520.00 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 3,943.40 Amount of Reserve Fund deposit (withdrawal) (3,943.40) 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 6/15/99 Collection Period 5/99 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 $6,832,232.98 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $321,005.10 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $6,511,227.88 (j) The amount of the distribution set forth in paragraph A.1. (g) above, per $1,000 $74.26 (k) The amount of the distribution set forth in paragraph A.1. (h) above, per $1,000 $3.49 (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 $191,636,800.00 (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 $166,811,740.75 (c) The Note Pool Factor as of the close of business on the last day set forth above 0.8704578 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 $357,688.84 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,992.43 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $9.94 (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 $185,173,925.17 Spread Account Balance $20,089,452.88 (b) The change in the spread account on the Distribution Date set forth above $121,086.71 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 $231,681.40 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,489,599.75 (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 434 Aggregate Gross Amount $5,270,000.00 (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 161 Aggregate Gross Amount $2,073,000.00 7 Performance Triggers (a) Delinquency Ratio 3.65% (b) Average Delinquency Ratio 3.04% (c) Cumulative Default Ratio 4.83% (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 RECEIVABLES TRUST 1998-3 STATEMENT TO NOTEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 8,046,301.76 LOCK BOX NSF ITEMS: (96,985.81) TOTAL COLLECTION PROCEEDS: 7,949,315.95 FOR DISTRIBUTION DATE: 6/15/99 FOR DETERMINATION DATE: 6/8/99 FOR COLLECTION PERIOD: 5/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 191,636,800.00 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 191,636,800.00 Principal portion of payments collected (non-prepayments) 2,386,494.93 Prepayments in full allocable to principal 1,819,924.00 Collections allocable to principal 4,206,418.93 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 766,856.15 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 4,973,275.08 Realized Losses 1,489,599.75 Cram Down Losses 0.00 Ending Principal Balance 185,173,925.17 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 2,733,953.78 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 242,087.09 --------------- Total Interest 2,976,040.87 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 0.00 Beginning of Period Class A-2 Principal Balance 65,790,968.63 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 19,968,366.17 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 38,294.17 Scheduled Payments due in Collection Period 5,874,693.10 Scheduled Payments collected in Collection Period 5,120,448.71 Aggregate Amount of Realized Losses for preceding Distribution Date 1,489,599.75 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 4,441.72 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to 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 434 5,270,000.00 60 - 89 days delinquent 161 2,073,000.00 90 - 119 days delinquent 67 809,000.00 120+ days delinquent 52 650,000.00 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 7,343,000.00 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 1,191,901.44 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 2.51% Delinquency Ratio for third preceding Determination Date 2.95% Cumulative Defaults for preceding Determination Date 10,420,121.39 Cumulative Net Losses for preceding Determination Date 9,136,620.56 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) 6,940,372.71 Liquidation Proceeds 766,856.15 Recoveries 242,087.09 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 26,060.38 --------------- TOTAL DISTRIBUTION AMOUNT 7,975,376.33 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 2,386,494.93 Prepayments in full allocable to principal 1,819,924.00 Principal Balance of Liquidated Receivables 2,256,455.90 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 6,462,874.83 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 185,173,925.17 --------------- 166,656,532.65 Class A Noteholders' Percentage After the Target Payment Date? No Will the Class A-2 Notes be reduced to 0? No On or Prior to Target Payment Date 98.0% After Target Payment Date, before Payment Date when A-2 reduced to 0 90.4% On Payment Date when Class A-2 Notes will be reduced to 0 38.0% --------------- 98.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 6,462,874.83 Times Class A Noteholders' Percentage 90.4% --------------- 5,842,438.85 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 5,842,438.85 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 0.0805556 --------------- Class A Interest Distributable Amount 0.00 Class A-2 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 65,790,968.63 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 321,005.10 Class A-3 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 25,000,000.00 Multiplied by the Note Rate 5.9950% Multiplied by 30/360, or for the first Distribution Date, by 17/360 0.0833333 --------------- Class A Interest Distributable Amount 124,895.83 Class A-4 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 82,532,000.00 Multiplied by the Note Rate 6.0800% Multiplied by 30/360, or for the first Distribution Date, by 17/360 0.0833333 --------------- Class A Interest Distributable Amount 418,162.13 Excess Interest Amount Total Distribution Amount 7,975,376.33 minus Class A Principal and Interest Distributable Amount 6,706,501.91 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Trustee and Collateral Agent distributions 6,722.72 Standby Servicer distributions 3,992.43 Servicer distributions 357,688.84 Insurance and Reimbursement Obligations 231,681.40 --------------- 668,789.03 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 3,992.43 Servicing Fee (2.0%) 319,394.67 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 38,294.17 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 1,197.73 Indenture Trustee's out-of-pocket expenses 4,441.72 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 1,083.27 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v)(A) Class A-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 321,005.10 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 321,005.10 (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 5,842,438.85 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 5,842,438.85 Class A Principal Distribution Amount to Class A-1 0.00 Class A Principal Distribution Amount to Class A-2 5,842,438.85 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 92,114.29 Note Insurer Premium Supplement 139,567.11 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 668,789.03 Amount to Class A-1 Noteholders 0.00 Amount to Class A-2 Noteholders 668,789.03 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 65,790,968.63 Class A-2 Principal Distributions 5,842,438.85 Class A-2 End of Period Principal Amount (prior to turbo) 59,948,529.79 Additional Principal Distribution 668,789.03 Class A-2 End of Period Principal Amount 59,279,740.75 Class A-3 Beginning of Period Principal Amount 25,000,000.00 Class A-3 Principal Distributable Amount 0.00 Class A-3 End of Period Principal Amount (prior to turbo) 25,000,000.00 Additional Principal Distribution 0.00 Class A-3 End of Period Principal Amount 25,000,000.00 Class A-4 Beginning of Period Principal Amount 82,532,000.00 Class A-4 Principal Distributable Amount 0.00 Class A-4 End of Period Principal Amount (prior to turbo) 82,532,000.00 Additional Principal Distribution 0.00 Class A-4 End of Period Principal Amount 82,532,000.00 CLASS A-1 DEFICIENCY - INTEREST (i) Total Distribution Amount Available 7,975,376.33 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (i) and (v)A 368,403.99 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 7,606,972.34 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (v) B 7,606,972.34 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (v) B 321,005.10 (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) 7,285,967.24 CLASS A-3 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (vi) A 7,285,967.24 (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) 7,161,071.41 CLASS A-4 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (vi) and (x) 7,161,071.41 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (vi) and (x) 418,162.13 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 6,742,909.28 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a) (vii) 6,742,909.28 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (vii) 5,842,438.85 (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) 900,470.43 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.8(a) (viii) 900,470.43 (vi) Note Insurer Premium 92,114.29 (v) Note Insurer Premium Supplement 139,567.11 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) 668,789.03 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 7,343,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 7,343,000.00 Aggregate Gross Principal Balance as of the close of 201,169,657.47 business on the last day of the Collection Period. DELINQUENCY RATIO 3.65% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 3.65% Delinquency Ratio for second preceding Determination Date 2.51% Delinquency Ratio for third preceding Determination Date 2.95% ---------------- Average Delinquency Ratio 3.04% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 10,420,121.39 Current Period Defaulted Receivables 1,191,901.44 --------------- Total 11,612,022.83 Cumulative Defaulted Receivables 11,612,022.83 Original Pool Balance 240,339,160.19 Cumulative Default Ratio 4.83% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of 120+ Delinquent Losses: Principal Balance of Delinquent Accts > 120 days 650,000.00 Principal Balance of Delinquent Accts > 90 < 120 days 809,000.00 Estimated Loss % 50% --------------- Estimated Loss $'s 1,054,500.00 Calculation of Net Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 2,256,455.90 Cram Down Losses 0.00 Net Liquidation Proceeds (1,008,943.24) --------------- Net Losses 2,302,012.66 Cumulative Previous Net Losses 9,136,620.56 Less: Previous Month's Delinquency Loss Estimate (1,158,500.00) --------------- Cumulative Net Losses 10,280,133.22 Original Pool Balance 240,339,160.19 Cumulative Net Loss Ratio 4.28% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.60 Weighted Average Remaining Term 46.77 Weighted Average Annual Percentage Rate 20.43% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 185,173,925.17 minus the Securities Balance 166,811,740.75 --------------- 18,362,184.42 divided by the Aggregate Principal Balance 9.92% Floor OC Percent Aggregate Principal Balance 185,173,925.17 minus the Securities Balance 166,811,740.75 --------------- 18,362,184.42 divided by the initial Aggregate Principal Balance 240,339,160.19 --------------- 7.64% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 166,811,740.75 (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 185,173,925.17 --------------- 185,173,925.17 Requisite Amount 185,173,925.17 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 185,173,925.17 Beginning of Period Spread Account Balance 19,968,366.17 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 165,205,559.00 Earnings on Spread Account Balance 121,086.71 Amount of Spread Account deposit (withdrawal) 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 20,089,452.88 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 6/15/99 Collection Period 5/99 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 $4,707,958.33 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $45,500.32 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $4,662,458.01 (d) The amount of total the distribution set forth in paragraph A.1. (a) above, per $1,000 $144.86 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $1.40 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $143.46 (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 $2,853,390.81 (t) The amount of the distribution set forth in paragraph A.1. (s) above in respect of interest $419,261.29 (u) The amount of the distribution set forth in in paragraph A.1. (s) above in respect of principal $2,434,129.52 (v) The amount of the distribution set forth in paragraph A.1. (s) above, per $1,000 $28.53 (w) The amount of the distribution set forth in paragraph A.1. (t) above, per $1,000 $4.19 (x) The amount of the distribution set forth in paragraph A.1. (u) above, per $1,000 $24.34 (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 $276,240,986.69 (b) The aggregate principal amount of the Securities as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c),(i),(o),(u),(aa) above $269,144,399.16 (c) The Note Pool Factor as of the close of business on the last day set forth above 0.9743102 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 $506,741.87 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $5,755.02 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $15.59 (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 $83,434,763.74 Spread Account Balance $22,841,925.50 (b) The change in the spread account on the Distribution Date set forth above $435,178.54 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 $550,338.34 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,413,888.05 (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 528 Aggregate Gross Amount $6,625,000.00 (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 190 Aggregate Gross Amount $2,464,000.00 7 Performance Triggers. (a) Delinquency Ratio 3.14% (b) Average Delinquency Ratio 2.62% (c) Cumulative Default Ratio 2.96% (d) Cumulative Net Loss Ratio 1.50% (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: 9,920,632.50 LOCK BOX NSF ITEMS: (151,940.00) TOTAL COLLECTION PROCEEDS: 9,768,692.50 FOR DISTRIBUTION DATE: 6/15/99 FOR DETERMINATION DATE: 6/8/99 FOR COLLECTION PERIOD: 5/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 276,240,986.69 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 276,240,986.69 Principal portion of payments collected (non-prepayments) 3,350,348.79 Prepayments in full allocable to principal 1,620,069.00 Collections allocable to principal 4,970,417.79 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 712,281.69 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 5,682,699.48 Realized Losses 1,413,888.05 Cram Down Losses 0.00 Ending Principal Balance 269,144,399.16 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 3,969,936.17 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 116,056.85 --------------- Total Interest 4,085,993.02 NOTE INFORMATION Beginning of Period Class A-1 Principal Balance 10,320,328.26 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 88,420,658.44 Beginning of Period Class A-5 Principal Balance 18,625,000.00 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 22,406,746.95 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 46,340.23 Scheduled Payments due in Collection Period 8,202,098.48 Scheduled Payments collected in Collection Period 7,320,284.96 Aggregate Amount of Realized Losses for preceding Distribution Date 1,413,888.05 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 7,080.78 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to 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 528 6,625,000.00 60 - 89 days delinquent 190 2,464,000.00 90 - 119 days delinquent 71 878,000.00 120+ days delinquent 61 699,000.00 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. 9,089,000.00 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. 1,960,156.59 Delinquency Ratio for second preceding Determination Date 2.30% Delinquency Ratio for third preceding Determination Date 2.41% Cumulative Defaults for preceding Determination Date 7,220,937.43 Cumulative Net Losses for preceding Determination Date 3,551,661.81 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) 8,940,353.96 Liquidation Proceeds 712,281.69 Recoveries 116,056.85 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 63.05 Investment earnings from Interest Reserve Account 1.28 Investment earnings from Collection Account 34,625.05 --------------- TOTAL DISTRIBUTION AMOUNT 9,803,381.88 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 3,350,348.79 Prepayments in full allocable to principal 1,620,069.00 Principal Balance of Liquidated Receivables 2,126,169.74 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 7,096,587.53 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 7,096,587.53 Sequential Pay Noteholders Percentage 65.7% --------------- Sequential Pay Noteholders' Principal Distributable Amount 4,662,458.01 Class A-4 Noteholders's Percentage Have the Sequential Pay Notes been reduced to 0? No Class A-4 Noteholder's Percentage 34.3% If Sequential Pay Notes have been reduced to 0 100.0% Class A-4 Noteholders' Principal Distributable Amount Principal Distributable Amount 7,096,587.53 Class A-4 Noteholders Percentage 34.3% --------------- Class A-4 Noteholders' Principal Distributable Amount 2,434,129.52 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 10,320,328.26 Multiplied by the Note Rate 5.4730% Multiplied by actual/360, or for the first Distribution Date, by 11/360 0.0805556 --------------- Class A Interest Distributable Amount 45,500.32 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 88,420,658.44 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 419,261.29 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 9,803,381.88 minus Class A Principal and Interest Distributable Amount 8,415,948.10 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Trustee and Collateral Agent distributions 10,533.80 Standby Servicer distributions 5,755.02 Servicer distributions 506,741.87 Insurance and Reimbursement Obligations 550,338.34 --------------- 314,064.75 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 5,755.02 Backup Servicer Fee 6,500.00 Servicing Fee (2.0%) 460,401.64 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 46,340.23 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 1,726.51 Indenture Trustee's out-of-pocket expenses 7,080.78 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 1,726.51 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 45,500.32 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 45,500.32 (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 419,261.29 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 419,261.29 (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 4,662,458.01 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Total Adjusted Distributable Amount 4,662,458.01 Class A Principal Distribution Amount to Class A-1 4,662,458.01 Class A Principal Distribution Amount to Class A-2 0.00 Class A Principal Distribution Amount to Class A-3 0.00 (vii) Class A-4 Principal Distributable Amount 2,434,129.52 Class A Principal Distribution Amount to Class A-5 0.00 (viii) Note Insurer Premium 112,143.50 Short-Term Reinsurance 33,074.51 Long-Term Reinsurance 180,833.33 Note Insurer Premium Supplement 224,287.00 Other Reimbursement Obligations to Note Insurer 0.00 (ix) Transition Expenses to successor Servicer 0.00 Spread Account Deposit (withdrawal) 307,564.75
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 10,320,328.26 Class A-1 Principal Distributions 4,662,458.01 Class A-1 End of Period Principal Amount 5,657,870.25 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 88,420,658.44 Class A-4 Principal Distributable Amount 2,434,129.52 Class A-4 End of Period Principal Amount 85,986,528.91 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 269,144,399.16 CLASS A-1 DEFICIENCY - INTEREST (i) Total Distribution Amount Available 9,803,381.88 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(i) thru (v)A 575,031.01 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 9,228,350.87 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)B 9,228,350.87 (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) 8,854,413.37 CLASS A-3 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)C 8,854,413.37 (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) 8,465,169.62 CLASS A-4 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)D 8,465,169.62 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)D 419,261.29 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 8,045,908.33 CLASS A-5 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)E 8,045,908.33 (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) 7,954,490.62 SEQUENTIAL PAY NOTES DEFICIENCY - PRINCIPAL (A-1, A-2 & A-3) (i) Amounts available to make payments pursuant to Section 5.7(a)(vi) 7,954,490.62 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(vi) 4,662,458.01 (iii) Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 3,292,032.61 CLASS A-4 DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.7(a)(vii) 3,292,032.61 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(vii) 2,434,129.52 (iii) Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 857,903.09 CLASS A-5 DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.7(a)(vii) 857,903.09 (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) 857,903.09 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.7(a)(viii) 857,903.09 (vi) Note Insurer Premium 550,338.34 (v) Note Insurer Premium Supplement 224,287.00 Deficiency Amount 0.00 Withdrawal from Spread Account to Cover Deficiency 0.00 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 83,277.75 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 9,089,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 9,089,000.00 Aggregate Gross Principal Balance as of the close of business on the last day of the Collection Period. 289,210,356.95 DELINQUENCY RATIO 3.14% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 3.14% Delinquency Ratio for second preceding Determination Date 2.30% Delinquency Ratio for third preceding Determination Date 2.41% --------------- Average Delinquency Ratio 2.62% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 7,220,937.43 Current Period Defaulted Receivables 1,960,156.59 --------------- Total 9,181,094.02 Cumulative Defaulted Receivables 9,181,094.02 Original Pool Balance 275,647,271.04 Add: Subsequent Receivables 34,352,728.96 --------------- Total Original Balance 310,000,000.00 Cumulative Default Ratio 2.96% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of 120+ Delinquent Losses: Principal Balance of Delinquent Accts > 120 days 699,000.00 Principal Balance of Delinquent Accts >90 <120 days 878,000.00 Estimated Loss % 50% ---------------- Estimated Loss $'s 1,138,000.00 Calculation of Net Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 2,126,169.74 Cram Down Losses 0.00 Net Liquidation Proceeds (828,338.54) --------------- Net Losses 2,435,831.20 Cumulative Previous Net Losses 3,551,661.81 Less: Previous Month's Delinquency Loss Estimate (1,337,500.00) --------------- Cumulative Net Losses 4,649,993.01 Original Pool Balance 310,000,000.00 Cumulative Net Loss Ratio 1.50% 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 49.49 Weighted Average Annual Percentage Rate 20.24% SPREAD ACCOUNT Spread Account Cap Current Spread Account % 8.3% 21.0% of Outstanding Notes Balance if no Trigger Event 56,520,323.82 26.0% of Outstanding Notes Balance if a Trigger Event Exists 69,977,543.78 31.0% of Outstanding Notes Balance if an Insurance Event of Default 83,434,763.74 Is a Trigger Event continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) Y Requisite Amount 83,434,763.74 Spread Account Floor 2.5% of the Initial Certificate Balance 7,750,000.00 Outstanding Certificate Balance 269,144,399.16 Minimum Floor 100,000.00 --------------- Floor Amount 7,750,000.00 Required Spread Account Amount 83,434,763.74 Beginning of Period Spread Account Balance 22,406,746.95 Additional Deposit for Subsequent Receivables Transfer 0.00 Spread Account Deposit (Withdrawal) from Current Distributions 307,564.75 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 60,720,452.03 Earnings on Spread Account Balance 127,613.79 Amount of Spread Account deposit (withdrawal) 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 22,841,925.50