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) August 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 20.38 Monthly Servicing Report for the July 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: August 30, 1999 By: /s/ James L. Stock Name: James L. Stock Title: Vice President - Corporate Controller INDEX TO EXHIBITS Exhibit Sequential No. Document Description Page No. 20.38 Monthly Servicing Report for the July 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 8/16/99 Collection Period 7/99 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 $1,344,432.20 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $92,122.93 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,252,309.27 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $15.92 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $1.09 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $14.83 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $57,310.92 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $7,291.09 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $50,019.83 (j) Scheduled Payments due in such Collection Period $1,025,423.96 (k) Scheduled Payments collected in such Collection Period $965,325.25 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 $17,498,616.96 (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 $16,196,287.82 (c) The Pool factor as of the close of business on the last day set forth above 0.9255753 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 $50,357.50 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $1,166.57 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.60 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $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 Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (c) above $0.00 4 Payahead Account. (a) The aggregate Payahead Balance on the prior Distribution Date $20,551.55 (b) Distributions (to) from Collection Account ($43.34) for Payaheads (c) Interest earned on Payahead Balances $70.02 (d) Ending Payahead Account Balance $20,578.23 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 $15,371,376.83 Spread Account Balance $6,158,727.18 (b) The change in the spread account on the Distribution Date set forth above $39,033.08 6 Policy. (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $17,292.80 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $204,338.00 (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 82 Aggregate Gross Amount $473,000.00 (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 68 Aggregate Gross Amount $383,000.00 8 Performance Triggers. (a) Delinquency Ratio 4.92% (b) Average Delinquency Ratio 4.91% (c) Cumulative Default Ratio 19.64% (d) Cumulative Net Loss Ratio 14.84% (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: 1,478,986.24 LOCK BOX NSF ITEMS: (12,992.65) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 43.34 COLLECTION ACCOUNT INTEREST 4,890.50 PAYAHEAD ACCOUNT INTEREST 70.02 TOTAL COLLECTION PROCEEDS: 1,470,997.45 FOR DISTRIBUTION DATE: 8/16/99 FOR DETERMINATION DATE: 8/9/99 FOR COLLECTION PERIOD: 7/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 17,498,616.96 Principal portion of payments collected (non-prepayments) 672,829.12 Prepayments in full allocable to principal 370,670.00 Collections allocable to principal 1,043,499.12 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 70,383.17 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,113,882.29 Realized Losses 204,338.00 Cram Down Losses 0.00 Ending Principal Balance 16,180,396.67 INTEREST Collections allocable to interest 292,496.13 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 64,619.03 --------------- Total Interest 357,115.16 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 16,623,686.10 Beginning of Period Class B Principal Balance 874,930.83 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 6,119,694.10 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 21,193.14 Aggregate Payahead Balance 20,508.21 Aggregate Payahead Balance for preceding Distribution Date 20,551.55 Interest Earned on Payahead Balances 70.02 Scheduled Payments due in Collection Period 1,025,423.96 Scheduled Payments collected in Collection Period 965,325.25 Aggregate Amount of Realized Losses for preceding Distribution Date 204,338.00 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 0.00 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Certificate Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 82 473,000.00 60+ days delinquent 68 383,000.00 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 856,000.00 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 94,392.99 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 4.76% Delinquency Ratio for third preceding Determination Date 5.04% Cumulative Defaults for preceding Determination Date 17,363,974.29 Cumulative Net Losses for preceding Determination Date 13,055,226.69 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) 1,335,995.25 Liquidation Proceeds 70,383.17 Recoveries 64,619.03 Purchase Amounts 0.00 Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 0.00 Investment earnings from Payahead Account 0.00 --------------- TOTAL DISTRIBUTION AMOUNT 1,470,997.45 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 672,829.12 Prepayments in full allocable to principal 370,670.00 Principal Balance of Liquidated Receivables 274,721.17 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 1,318,220.29 Class A Principal Distributable Amount Principal Distributable Amount 1,318,220.29 Times Class A Percentage (95%) 95% --------------- 1,252,309.27 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,252,309.27 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 16,623,686.10 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 92,122.93 Class B Principal Distributable Amount Principal Distributable Amount 1,318,220.29 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 65,911.01 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 874,930.83 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 7,291.09 Class B Excess Interest Amount Total Distribution Amount 1,470,997.45 minus Class A Principal and Interest Distributable Amount 1,344,432.20 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 7,291.09 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 65,911.01 Class B Principal Carryover Shortfall 0.00 Trustee distributions 218.73 Standby Servicer distributions 1,166.57 Servicer distributions 50,357.50 Collateral Agent distributions 218.73 Reimbursement Obligations 17,292.80 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Class A Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class A Interest Carryover Shortfall from previous period 0.00 Interest on Class A Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class A Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00
CALCULATIONS DISTRIBUTIONS (PURSUANT TO SECTION 4.6(c) OF THE POOLING AND SERVICING AGREEMENT): Use --- (i) Standby Fee 1,166.57 Servicing Fee (2.0%) 29,164.36 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 21,193.14 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 218.73 Trustee's out-of-pocket expenses 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 218.73 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v)(A) Class A Interest Distributable Amount - Current Month 92,122.93 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 92,122.93 (viii)(A) Class B Coupon Interest - Unadjusted 7,291.09 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 7,291.09 (v)(B) Class A Principal Distributable Amount - Current Month 1,252,309.27 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 1,252,309.27 (vi) Certificate Insurer Premium 4,483.32 Certificate Insurer Premium Supplement 12,809.48 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 65,911.01 Class B Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class B Principal Shortfall (15,891.18) Adjusted Class B Principal Distributable Amount 50,019.83 (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 16,623,686.10 Class A Principal Distributions 1,252,309.27 Class A End of Period Principal Balance 15,371,376.83 Class B Beginning of Period Principal Balance 874,930.83 Class B Principal Distributable Amount 50,019.83 Class B End of Period Principal Balance BEFORE Spread Account Distributions 824,911.00 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 824,911.00 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 1,470,997.45 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 144,084.46 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 1,326,912.99 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 1,326,912.99 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 7,291.09 (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) 1,319,621.90 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 1,319,621.90 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,252,309.27 (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) 67,312.63 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 67,312.63 (vi) Certificate Insurer Premium 4,483.32 (v) Certificate Insurer Premium Supplement 12,809.48 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) 50,019.83 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 50,019.83 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 65,911.01 (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) (15,891.18) Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (15,891.18) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 856,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 856,000.00 Aggregate Gross Principal Balance as of the close of 17,400,965.79 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 4.76% Delinquency Ratio for third preceding Determination Date 5.04% --------------- Average Delinquency Ratio 4.91% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 17,363,974.29 Current Period Defaulted Receivables 94,392.99 --------------- Total 17,458,367.28 Cumulative Defaulted Receivables 17,458,367.28 Original Pool Balance 88,900,750.37 Cumulative Default Ratio 19.64% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 274,721.17 Cram Down Losses 0.00 Net Liquidation Proceeds (135,002.20) --------------- Net Liquidation Losses 139,718.97 Cumulative Previous Net Losses 13,055,226.69 --------------- Cumulative Net Losses 13,194,945.66 Original Pool Balance 88,900,750.37 Cumulative Net Loss Ratio 14.84% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 54.67 Weighted Average Remaining Term 20.22 Weighted Average Annual Percentage Rate 20.20% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 1,619,628.78 15% of Outstanding Certificate Balance 2,429,443.17 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 15,371,376.83 Spread Account Floor 3% of the Initial Certificate Balance 2,667,022.51 Outstanding Certificate Balance 16,196,287.82 Minimum Floor 100,000.00 --------------- Floor Amount 2,667,022.51 Required Spread Account Amount 15,371,376.83 Beginning of Period Spread Account Balance 6,119,694.10 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 15,760.23 Required addition to/(eligible withdrawal from) Spread Account 9,235,922.49 Earnings on Spread Account Balance 23,272.85 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 6,158,727.18 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1996-2 6.70% ASSET-BACKED CERTIFICATES Distribution Date 8/16/99 Collection Period 7/99 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 $1,537,978.82 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $124,065.71 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,413,913.11 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $17.57 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $1.42 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $16.15 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $70,434.08 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $13,548.02 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $56,886.06 (j) Scheduled Payments due in such Collection Period $1,207,806.76 (k) Scheduled Payments collected in such Collection Period $1,070,562.51 B. Information Regarding the Performance of the Trust. 1 Pool Balance and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $23,390,235.32 (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 $22,188,652.34 (c) The Pool factor as of the close of business on the last day set forth above 0.9486289 2 Servicing Fee and Purchased Receivables. (a) The aggregate amount of the Servicing Fee (exclusive of the Standby Fee paid to the Standby Servicer) paid to the Servicer with respect to the Collection Period set forth above $52,802.17 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $1,559.35 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.60 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $0.02 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (c) above $0.00 4 Payahead Account. (a) The aggregate Payahead Balance on the prior Distribution Date $22,056.27 (b) Distributions (to) from Collection Account ($6,418.37) for Payaheads (c) Interest earned on Payahead Balances $80.26 (d) Ending Payahead Account Balance $15,718.16 5 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $20,806,810.41 Spread Account Balance $5,009,996.41 (b) The change in the spread account on the Distribution Date set forth above $45,992.45 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 $23,407.66 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $208,880.57 (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 $704,000.00 (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 72 Aggregate Gross Amount $599,000.00 8 Performance Triggers. (a) Delinquency Ratio 5.45% (b) Average Delinquency Ratio 5.13% (c) Cumulative Default Ratio 19.47% (d) Cumulative Net Loss Ratio 14.76% (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: 1,687,374.60 LOCK BOX NSF ITEMS: (12,886.30) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 6,418.37 COLLECTION ACCOUNT INTEREST 5,783.27 PAYAHEAD ACCOUNT INTEREST 80.26 TOTAL COLLECTION PROCEEDS: 1,686,770.20 FOR DISTRIBUTION DATE: 8/16/99 FOR DETERMINATION DATE: 8/9/99 FOR COLLECTION PERIOD: 7/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 23,390,235.32 Principal portion of payments collected (non-prepayments) 744,497.76 Prepayments in full allocable to principal 418,083.00 Collections allocable to principal 1,162,580.76 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 116,868.26 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,279,449.02 Realized Losses 208,880.57 Cram Down Losses 0.00 Ending Principal Balance 21,901,905.73 INTEREST Collections allocable to interest 326,064.75 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 81,256.43 --------------- Total Interest 407,321.18 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 22,220,723.53 Beginning of Period Class B Principal Balance 1,438,727.99 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 4,964,003.96 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 13,818.44 Aggregate Payahead Balance 15,637.90 Aggregate Payahead Balance for preceding Distribution Date 22,056.27 Interest Earned on Payahead Balances 80.26 Scheduled Payments due in Collection Period 1,207,806.76 Scheduled Payments collected in Collection Period 1,070,562.51 Aggregate Amount of Realized Losses for preceding Distribution Date 208,880.57 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 0.00 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to 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 96 704,000.00 60+ days delinquent 72 599,000.00 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 1,303,000.00 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 161,677.57 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 5.17% Delinquency Ratio for third preceding Determination Date 4.77% Cumulative Defaults for preceding Determination Date 17,778,699.70 Cumulative Net Losses for preceding Determination Date 13,469,993.40 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) 1,488,645.51 Liquidation Proceeds 116,868.26 Recoveries 81,256.43 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 1,686,770.20 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 744,497.76 Prepayments in full allocable to principal 418,083.00 Principal Balance of Liquidated Receivables 325,748.83 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 1,488,329.59 Class A Principal Distributable Amount Principal Distributable Amount 1,488,329.59 Times Class A Percentage (95%) 95% --------------- 1,413,913.11 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,413,913.11 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 22,220,723.53 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 124,065.71 Class B Principal Distributable Amount Principal Distributable Amount 1,488,329.59 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 74,416.48 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 1,438,727.99 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 13,548.02 Class B Excess Interest Amount Total Distribution Amount 1,686,770.20 minus Class A Principal and Interest Distributable Amount 1,537,978.82 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 13,548.02 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 74,416.48 Class B Principal Carryover Shortfall 269,216.20 Trustee distributions 292.38 Standby Servicer distributions 1,559.35 Servicer distributions 52,802.17 Collateral Agent distributions 295.74 Reimbursement Obligations 23,407.66 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 269,216.20 --------------- 269,216.20 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 1,559.35 Servicing Fee (2.0%) 38,983.73 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 13,818.44 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 292.38 Trustee's out-of-pocket expenses 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 295.74 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 124,065.71 Prior Month(s) Class A Carryover Shortfall 0.00 Class A Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A Interest Carryover Shortfall 0.00 Class A Interest Distributable Amount 124,065.71 (viii)(A) Class B Coupon Interest - Unadjusted 13,548.02 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 13,548.02 (v)(B) Class A Principal Distributable Amount - Current Month 1,413,913.11 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 1,413,913.11 (vi) Certificate Insurer Premium 6,068.65 Certificate Insurer Premium Supplement 17,339.01 Other Reimbursement Obligations to Certificate Insurer 0.00 (vii) Transition Expenses to successor Servicer 0.00 (B) Class B Principal Distributable Amount - Current Month Unadjusted 74,416.48 Class B Principal Carryover Shortfall - Previous Month(s) 269,216.20 Current Month Class B Principal Shortfall (286,746.63) Adjusted Class B Principal Distributable Amount 56,886.06 (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 22,220,723.53 Class A Principal Distributions 1,413,913.11 Class A End of Period Principal Balance 20,806,810.41 Class B Beginning of Period Principal Balance 1,438,727.99 Class B Principal Distributable Amount 56,886.06 Class B End of Period Principal Balance BEFORE Spread Account Distributions 1,381,841.93 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 1,381,841.93 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 1,686,770.20 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 179,015.35 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 1,507,754.85 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 1,507,754.85 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 13,548.02 (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) 1,494,206.83 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 1,494,206.83 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,413,913.11 (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) 80,293.72 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 80,293.72 (vi) Certificate Insurer Premium 6,068.65 (v) Certificate Insurer Premium Supplement 17,339.01 Deficiency Amount 0.00 Withdrawal from Spread Account to Cover Deficiency 0.00 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 56,886.06 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 56,886.06 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 74,416.48 (iii)Prior month(s) carryover shortfalls 269,216.20 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (286,746.63) Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (286,746.63) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 1,303,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 1,303,000.00 Aggregate Gross Principal Balance as of the close of 23,923,226.35 business on the last day of the Collection Period. DELINQUENCY RATIO 5.45% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 5.45% Delinquency Ratio for second preceding Determination Date 5.17% Delinquency Ratio for third preceding Determination Date 4.77% --------------- Average Delinquency Ratio 5.13% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 17,778,699.70 Current Period Defaulted Receivables 161,677.57 --------------- Total 17,940,377.27 Cumulative Defaulted Receivables 17,940,377.27 Original Pool Balance 92,129,299.54 Cumulative Default Ratio 19.47% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 325,748.83 Cram Down Losses 0.00 Net Liquidation Proceeds (198,124.69) --------------- Net Liquidation Losses 127,624.14 Cumulative Previous Net Losses 13,469,993.40 --------------- Cumulative Net Losses 13,597,617.54 Original Pool Balance 92,129,299.54 Cumulative Net Loss Ratio 14.76% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 55.54 Weighted Average Remaining Term 23.64 Weighted Average Annual Percentage Rate 20.37% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 2,218,865.23 15% of Outstanding Certificate Balance 3,328,297.85 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 20,806,810.41 Spread Account Floor 3% of the Initial Certificate Balance 2,763,878.99 Outstanding Certificate Balance 22,188,652.34 Minimum Floor 100,000.00 --------------- Floor Amount 2,763,878.99 Required Spread Account Amount 20,806,810.41 Beginning of Period Spread Account Balance 4,964,003.96 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 27,023.87 Required addition to/(eligible withdrawal from) Spread Account 15,815,782.58 Earnings on Spread Account Balance 18,968.58 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 5,009,996.41 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1996-3 6.30% ASSET-BACKED CERTIFICATES Distribution Date 8/16/99 Collection Period 7/99 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 $1,813,909.36 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $142,662.19 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,671,247.17 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $20.56 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $1.62 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $18.95 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $245,933.19 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $16,763.85 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $229,169.34 (j) Scheduled Payments due in such Collection Period $1,331,349.19 (k) Scheduled Payments collected in such Collection Period $1,360,256.47 B. Information Regarding the Performance of the Trust. 1 Pool Balance and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $28,603,948.51 (b) The aggregate balance of the Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c) above $27,255,267.94 (c) The Pool factor as of the close of business on the last day set forth above 0.9528498 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 $67,083.60 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $1,906.93 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.76 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $0.02 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (c) above $0.00 4 Payahead Account. (a) The aggregate Payahead Balance on the prior Distribution Date $23,137.34 (b) Distributions (to) from Collection Account ($691.69) for Payaheads (c) Interest earned on Payahead Balances $81.95 (d) Ending Payahead Account Balance $22,527.60 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 $7,650,751.17 Spread Account Balance $6,103,163.61 (b) The change in the spread account on the Distribution Date set forth above $25,951.61 6 Policy. (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $28,690.32 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $243,324.74 (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 102 Aggregate Gross Amount $903,000.00 (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 77 Aggregate Gross Amount $712,000.00 8 Performance Triggers. (a) Delinquency Ratio 5.45% (b) Average Delinquency Ratio 5.41% (c) Cumulative Default Ratio 18.17% (d) Cumulative Net Loss Ratio 14.83% (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: 2,166,619.81 LOCK BOX NSF ITEMS: (16,081.19) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 691.69 COLLECTION ACCOUNT INTEREST 6,933.13 PAYAHEAD ACCOUNT INTEREST 81.95 TOTAL COLLECTION PROCEEDS: 2,158,245.39 FOR DISTRIBUTION DATE: 8/16/99 FOR DETERMINATION DATE: 8/9/99 FOR COLLECTION PERIOD: 7/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 28,603,948.51 Principal portion of payments collected (non-prepayments) 795,916.52 Prepayments in full allocable to principal 582,422.00 Collections allocable to principal 1,378,338.52 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 137,544.28 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,515,882.80 Realized Losses 243,324.74 Cram Down Losses 0.00 Ending Principal Balance 26,844,740.97 INTEREST Collections allocable to interest 564,339.95 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 78,022.64 --------------- Total Interest 642,362.59 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 27,173,751.05 Beginning of Period Class B Principal Balance 1,981,933.39 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 6,077,212.00 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 19,410.35 Aggregate Payahead Balance 22,445.65 Aggregate Payahead Balance for preceding Distribution Date 23,137.34 Interest Earned on Payahead Balances 81.95 Scheduled Payments due in Collection Period 1,331,349.19 Scheduled Payments collected in Collection Period 1,360,256.47 Aggregate Amount of Realized Losses for preceding Distribution Date 243,324.74 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 0.00 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to 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 102 903,000.00 60+ days delinquent 77 712,000.00 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 1,615,000.00 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 159,478.45 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 5.05% Delinquency Ratio for third preceding Determination Date 5.74% Cumulative Defaults for preceding Determination Date 16,715,297.71 Cumulative Net Losses for preceding Determination Date 13,607,791.08 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) 1,942,678.47 Liquidation Proceeds 137,544.28 Recoveries 78,022.64 Purchase Amounts 0.00 Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 0.00 Investment earnings from Payahead Account 0.00 --------------- TOTAL DISTRIBUTION AMOUNT 2,158,245.39 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 795,916.52 Prepayments in full allocable to principal 582,422.00 Principal Balance of Liquidated Receivables 380,869.02 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 1,759,207.54 Class A Principal Distributable Amount Principal Distributable Amount 1,759,207.54 Times Class A Percentage (95%) 95% --------------- 1,671,247.17 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 1,671,247.17 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 27,173,751.05 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 142,662.19 Class B Principal Distributable Amount Principal Distributable Amount 1,759,207.54 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 87,960.38 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 1,981,933.39 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 16,763.85 Class B Excess Interest Amount Total Distribution Amount 2,158,245.39 minus Class A Principal and Interest Distributable Amount 1,813,909.36 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 16,763.85 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 87,960.38 Class B Principal Carryover Shortfall 551,735.95 Trustee distributions 357.55 Standby Servicer distributions 1,906.93 Servicer distributions 67,083.60 Collateral Agent distributions 364.45 Reimbursement Obligations 28,690.32 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 551,735.95 --------------- 551,735.95 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 1,906.93 Servicing Fee (2.0%) 47,673.25 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 19,410.35 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 357.55 Trustee's out-of-pocket expenses 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 364.45 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 142,662.19 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 142,662.19 (viii)(A) Class B Coupon Interest - Unadjusted 16,763.85 Class B Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class B Interest Shortfall 0.00 Adjusted Class B Interest Distributable Amount 16,763.85 (v)(B) Class A Principal Distributable Amount - Current Month 1,671,247.17 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 1,671,247.17 (vi) Certificate Insurer Premium 7,438.23 Certificate Insurer Premium Supplement 21,252.09 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 87,960.38 Class B Principal Carryover Shortfall - Previous Month(s) 551,735.95 Current Month Class B Principal Shortfall (410,526.99) Adjusted Class B Principal Distributable Amount 229,169.34 (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 27,173,751.05 Class A Principal Distributions 1,671,247.17 Class A End of Period Principal Balance 25,502,503.89 Class B Beginning of Period Principal Balance 1,981,933.39 Class B Principal Distributable Amount 229,169.34 Class B End of Period Principal Balance BEFORE Spread Account Distributions 1,752,764.05 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 1,752,764.05 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,158,245.39 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 212,374.72 (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) 1,945,870.67 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 1,945,870.67 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 16,763.85 (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) 1,929,106.82 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 1,929,106.82 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 1,671,247.17 (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) 257,859.65 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 257,859.65 (vi) Certificate Insurer Premium 7,438.23 (v) Certificate Insurer Premium Supplement 21,252.09 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) 229,169.34 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 229,169.34 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 87,960.38 (iii)Prior month(s) carryover shortfalls 551,735.95 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (410,526.99) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (410,526.99) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 1,615,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 1,615,000.00 Aggregate Gross Principal Balance as of the close of 29,620,616.35 business on the last day of the Collection Period. DELINQUENCY RATIO 5.45% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 5.45% Delinquency Ratio for second preceding Determination Date 5.05% Delinquency Ratio for third preceding Determination Date 5.74% --------------- Average Delinquency Ratio 5.41% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 16,715,297.71 Current Period Defaulted Receivables 159,478.45 --------------- Total 16,874,776.16 Cumulative Defaulted Receivables 16,874,776.16 Original Pool Balance 92,857,811.12 Cumulative Default Ratio 18.17% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 380,869.02 Cram Down Losses 0.00 Net Liquidation Proceeds (215,566.92) --------------- Net Liquidation Losses 165,302.10 Cumulative Previous Net Losses 13,607,791.08 --------------- Cumulative Net Losses 13,773,093.18 Original Pool Balance 92,857,811.12 Cumulative Net Loss Ratio 14.83% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.03 Weighted Average Remaining Term 26.55 Weighted Average Annual Percentage Rate 20.42% SPREAD ACCOUNT Spread Account Cap 10% of Outstanding Certificate Balance 2,725,526.79 15% of Outstanding Certificate Balance 4,088,290.19 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 7,650,751.17 Spread Account Floor 3% of the Initial Certificate Balance 2,785,734.33 Outstanding Certificate Balance 27,255,267.94 Minimum Floor 100,000.00 --------------- Floor Amount 2,785,734.33 Required Spread Account Amount 7,650,751.17 Beginning of Period Spread Account Balance 6,077,212.00 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 2,647.48 Required addition to/(eligible withdrawal from) Spread Account 1,570,891.69 Earnings on Spread Account Balance 23,304.13 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 6,103,163.61 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1997-1 6.55% ASSET-BACKED CERTIFICATES Distribution Date 8/16/99 Collection Period 7/99 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 $2,231,548.82 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $187,904.25 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,043,644.57 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $22.96 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $1.93 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $21.02 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $45,586.10 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $26,681.87 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $18,904.23 (j) Scheduled Payments due in such Collection Period $1,551,191.28 (k) Scheduled Payments collected in such Collection Period $1,425,654.25 B. Information Regarding the Performance of the Trust. 1 Pool Balance and Certificate Balances. (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $36,237,059.58 (b) The aggregate balance of the Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c) above $35,108,647.98 (c) The Pool factor as of the close of business on the last day set forth above 0.9688603 2 Servicing Fee and Purchased Receivables. (a) The aggregate amount of the Servicing Fee (exclusive of the Standby Fee paid to the Standby Servicer) paid to the Servicer with respect to the Collection Period set forth above $76,508.30 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,415.80 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.79 (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 $24,443.77 (b) Distributions (to) from Collection Account ($23.79) for Payaheads (c) Interest earned on Payahead Balances $274.60 (d) Ending Payahead Account Balance $23,894.58 5 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $9,714,468.61 Spread Account Balance $7,305,652.96 (b) The change in the spread account on the Distribution Date set forth above $32,010.40 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 $36,429.26 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $421,277.88 (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 138 Aggregate Gross Amount $1,253,000.00 (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 120 Aggregate Gross Amount $1,083,000.00 8 Performance Triggers. (a) Delinquency Ratio 6.18% (b) Average Delinquency Ratio 5.69% (c) Cumulative Default Ratio 18.60% (d) Cumulative Net Loss Ratio 14.91% (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: 2,402,775.78 Lock Box NSF Items: (18,654.71) Transfers from (to) Payahead Account: 823.79 Collection Account Interest 8,186.41 Payahead Account Interest 274.60 Total Collection Proceeds: 2,393,405.87 For Distribution Date: 8/16/99 For Determination Date: 8/9/99 For Collection Period: 7/99 COLLATERAL ACTIVITY INFORMATION Principal Beginning Principal Balance 36,237,059.58 Principal portion of payments collected (non-prepayments) 866,527.45 Prepayments in full allocable to principal 667,638.00 Collections allocable to principal 1,534,165.45 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 195,761.48 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,729,926.93 Realized Losses 421,277.88 Cram Down Losses 0.00 Ending Principal Balance 34,085,854.77 INTEREST Collections allocable to interest 559,126.80 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 104,352.14 --------------- Total Interest 663,478.94 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 34,425,206.59 Beginning of Period Class B Principal Balance 2,745,990.18 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 7,273,642.56 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 16,113.20 Aggregate Payahead Balance 23,619.98 Aggregate Payahead Balance for preceding Distribution Date 24,443.77 Interest Earned on Payahead Balances 274.60 Scheduled Payments due in Collection Period 1,551,191.28 Scheduled Payments collected in Collection Period 1,425,654.25 Aggregate Amount of Realized Losses for preceding Distribution Date 421,277.88 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 0.00 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to 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 138 1,253,000.00 60+ days delinquent 120 1,083,000.00 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. 2,336,000.00 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. 276,452.63 Delinquency Ratio for second preceding Determination Date 5.23% Delinquency Ratio for third preceding Determination Date 5.65% Cumulative Defaults for preceding Determination Date 18,755,837.59 Cumulative Net Losses for preceding Determination Date 14,940,871.68 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) 2,093,292.25 Liquidation Proceeds 195,761.48 Recoveries 104,352.14 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 2,393,405.87 DISTRIBUTABLE AMOUNT PRINCIPAL DISTRIBUTABLE AMOUNT Principal portion of payments collected (non-prepayments) 866,527.45 Prepayments in full allocable to principal 667,638.00 Principal Balance of Liquidated Receivables 617,039.36 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,151,204.81 CLASS A PRINCIPAL DISTRIBUTABLE AMOUNT Principal Distributable Amount 2,151,204.81 Times Class A Percentage (95%) 95% --------------- 2,043,644.57 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,043,644.57 CLASS A INTEREST DISTRIBUTABLE AMOUNT Beginning of Period Principal Balance of the Certificates 34,425,206.59 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 187,904.25 CLASS B PRINCIPAL DISTRIBUTABLE AMOUNT Principal Distributable Amount 2,151,204.81 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 107,560.24 CLASS B COUPON INTEREST AMOUNT Beginning of Period Principal Balance of the Certificates 2,745,990.18 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 26,681.87 CLASS B EXCESS INTEREST AMOUNT Total Distribution Amount 2,393,405.87 minus Class A Principal and Interest Distributable Amount 2,231,548.82 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 26,681.87 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 107,560.24 Class B Principal Carryover Shortfall 934,137.20 Trustee distributions 452.96 Standby Servicer distributions 2,415.80 Servicer distributions 76,508.30 Collateral Agent distributions 464.64 Reimbursement Obligations 36,429.26 --------------- 0.00 Carryover Shortfalls from Prior Periods Class B Principal Carryover Shortfall from previous period 934,137.20 --------------- 934,137.20 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 2,415.80 Servicing Fee (2.0%) 60,395.10 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 16,113.20 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 452.96 Trustee's out-of-pocket expenses 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 464.64 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v)(A) Class A Interest Distributable Amount - Current Month 187,904.25 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 187,904.25 (viii)(A) Class B Coupon Interest - Unadjusted 26,681.87 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 26,681.87 (v)(B) Class A Principal Distributable Amount - Current Month 2,043,644.57 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 2,043,644.57 (vi) Certificate Insurer Premium 9,444.62 Certificate Insurer Premium Supplement 26,984.64 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 107,560.24 Class B Principal Carryover Shortfall - Previous Month(s) 934,137.20 Current Month Class B Principal Shortfall (1,022,793.21) Adjusted Class B Principal Distributable Amount 18,904.23 (C) Excess Interest Amount for Deposit in Spread Account 0.00 IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer Portfolio Services, Inc., have executed this Servicer's Certificate as of the Determination Date set forth above. CONSUMER PORTFOLIO SERVICES, INC. By: /s/ James L. Stock ---------------------------------------------------- Name: James L. Stock ---------------------------------------------------- Title: Vice President ----------------------------------------------------
CERTIFICATE BALANCE Class A Beginning of Period Principal Balance 34,425,206.59 Class A Principal Distributions 2,043,644.57 Class A End of Period Principal Balance 32,381,562.03 Class B Beginning of Period Principal Balance 2,745,990.18 Class B Principal Distributable Amount 18,904.23 Class B End of Period Principal Balance BEFORE Spread Account Distributions 2,727,085.96 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 2,727,085.96 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,393,405.87 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 267,745.95 (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) 2,125,659.92 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 2,125,659.92 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 26,745.95 (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) 2,098,978.05 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,098,978.05 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,043,644.57 (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) 55,333.48 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 55,333.48 (vi) Certificate Insurer Premium 9,444.62 (v) Certificate Insurer Premium Supplement 26,984.64 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) 18,904.23 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 18,904.23 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 107,560.24 (iii)Prior month(s) carryover shortfalls 934,137.20 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (1,022,793.21) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (1,022,793.21) CALCULATIONS PERFORMANCE MEASURES CALCULATION OF DELINQUENCY RATIO (CURRENT PERIOD) DELINQUENCY AMOUNT Receivables more than 30 days delinquent 2,336,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 2,336,000.00 Aggregate Gross Principal Balance as of the close of 37,774,770.85 business on the last day of the Collection Period. DELINQUENCY RATIO 6.18% CALCULATION OF AVERAGE DELINQUENCY RATIO Delinquency Ratio for most recent Determination Date 6.18% Delinquency Ratio for second preceding Determination Date 5.23% Delinquency Ratio for third preceding Determination Date 5.65% --------------- AVERAGE DELINQUENCY RATIO 5.69% CALCULATION OF CUMULATIVE DEFAULT RATIO DEFAULT AMOUNT Principal Balance of Previously Defaulted Receivables 18,755,837.59 Current Period Defaulted Receivables 276,452.63 --------------- Total 19,032,290.22 Cumulative Defaulted Receivables 19,032,290.22 Original Pool Balance 102,327,009.71 CUMULATIVE DEFAULT RATIO 18.60% CALCULATION OF CUMULATIVE NET LOSS RATIO CALCULATION OF NET LIQUIDATION LOSSES Principal Balance plus accrued and unpaid interest of Liquidated Receivables 617,039.36 Cram Down Losses 0.00 Net Liquidation Proceeds (300,113.62) --------------- Net Liquidation Losses 316,925.74 Cumulative Previous Net Losses 14,940,871.68 --------------- Cumulative Net Losses 15,257,797.42 Original Pool Balance 102,327,009.71 CUMULATIVE NET LOSS RATIO 14.91% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.35 Weighted Average Remaining Term 29.29 Weighted Average Annual Percentage Rate 20.48% SPREAD ACCOUNT SPREAD ACCOUNT CAP 10% of Outstanding Certificate Balance 3,510,864.80 15% of Outstanding Certificate Balance 5,266,297.20 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 9,714,468.61 SPREAD ACCOUNT FLOOR 3% of the Initial Certificate Balance 3,069,810.29 Outstanding Certificate Balance 35,108,647.98 Minimum Floor 100,000.00 --------------- FLOOR AMOUNT 3,069,810.29 Required Spread Account Amount 9,714,468.61 Beginning of Period Spread Account Balance 7,273,642.56 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 4,120.80 Required addition to/(eligible withdrawal from) Spread Account 2,436,705.25 Earnings on Spread Account Balance 27,889.60 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 7,305,652.96 MONTHLY CERTIFICATEHOLDER STATEMENT CPS AUTO GRANTOR TRUST 1997-2 6.65% ASSET-BACKED CERTIFICATES Distribution Date 8/16/99 Collection Period 7/99 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 $2,643,687.69 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $262,668.99 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,381,018.70 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $23.31 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $2.32 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $21.00 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $159,102.40 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $33,320.70 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $125,781.70 (j) Scheduled Payments due in such Collection Period $2,006,907.29 (k) Scheduled Payments collected in such Collection Period $1,919,801.43 B. Information Regarding the Performance of the Trust. 1 Pool Balance and Certificate Balances (a) The aggregate Principal Balance of the Receivables as of the close of business on the last day of the preceding Collection Period $49,893,596.16 (b) The aggregate balance of the Certificates as of the close of business on the last day set forth above, after giving effect to payments allocated to principal in paragraph A.1.(c) above $48,387,294.59 (c) The Pool factor as of the close of business on the last day set forth above 0.9698097 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 $104,527.82 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,326.24 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $0.92 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $0.03 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Interest Carryover shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (c) above $0.00 4 Payahead Account. (a) The aggregate Payahead Balance on the prior Distribution Date $26,090.10 (b) Distributions (to) from Collection Account ($5,440.21) for Payaheads (c) Interest earned on Payahead Balances $83.74 (d) Ending Payahead Account Balance $20,733.63 5 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $14,516,188.38 Spread Account Balance $9,333,274.31 (b) The change in the spread account on the Distribution Date set forth above $44,522.81 6 Policy. (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $50,645.13 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $515,313.24 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 162 Aggregate Gross Amount $1,543,000.00 (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 143 Aggregate Gross Amount $1,419,000.00 8 Performance Triggers. (a) Delinquency Ratio 5.66% (b) Average Delinquency Ratio 5.42% (c) Cumulative Default Ratio 16.61% (d) Cumulative Net Loss Ratio 13.16% (e) Is a Portfolio Performance Test violation continuing? Yes (f) Has an Insurance Agreement Event of Default occurred? Yes
CPS AUTO GRANTOR TRUST 1997-2 STATEMENT TO CERTIFICATEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 2,977,105.59 LOCK BOX NSF ITEMS: (29,428.80) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 5,440.21 COLLECTION ACCOUNT INTEREST 9,348.39 PAYAHEAD ACCOUNT INTEREST 83.74 TOTAL COLLECTION PROCEEDS: 2,962,549.13 FOR DISTRIBUTION DATE: 8/16/99 FOR DETERMINATION DATE: 8/9/99 FOR COLLECTION PERIOD: 7/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 49,893,596.16 Principal portion of payments collected (non-prepayments) 1,068,826.84 Prepayments in full allocable to principal 679,516.00 Collections allocable to principal 1,748,342.84 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 242,679.39 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,991,022.23 Realized Losses 515,313.24 Cram Down Losses 0.00 Ending Principal Balance 47,387,260.69 INTEREST Collections allocable to interest 850,974.59 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 120,552.31 --------------- Total Interest 971,526.90 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 47,398,916.37 Beginning of Period Class B Principal Balance 3,495,178.62 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 9,288,751.50 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 21,371.83 Aggregate Payahead Balance 20,649.89 Aggregate Payahead Balance for preceding Distribution Date 26,090.10 Interest Earned on Payahead Balances 83.74 Scheduled Payments due in Collection Period 2,006,907.29 Scheduled Payments collected in Collection Period 1,919,801.43 Aggregate Amount of Realized Losses for preceding Distribution Date 515,313.24 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 0.00 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to 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 162 1,543,000.00 60+ days delinquent 143 1,419,000.00 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. 2,962,000.00 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. 499,932.68 Delinquency Ratio for second preceding Determination Date 5.61% Delinquency Ratio for third preceding Determination Date 4.99% Cumulative Defaults for preceding Determination Date 19,323,445.42 Cumulative Net Losses for preceding Determination Date 15,316,570.78 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) 2,599,317.43 Liquidation Proceeds 242,679.39 Recoveries 120,552.31 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 2,962,549.13 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,068,826.84 Prepayments in full allocable to principal 679,516.00 Principal Balance of Liquidated Receivables 757,992.63 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,506,335.47 Class A Principal Distributable Amount Principal Distributable Amount 2,506,335.47 Times Class A Percentage (95%) 95% --------------- 2,381,018.70 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,381,018.70 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 47,398,916.37 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 262,668.99 Class B Principal Distributable Amount Principal Distributable Amount 2,506,335.47 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 125,316.77 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 3,495,178.62 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 33,320.70 Class B Excess Interest Amount Total Distribution Amount 2,962,549.13 minus Class A Principal and Interest Distributable Amount 2,643,687.69 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 33,320.70 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 125,316.77 Class B Principal Carryover Shortfall 1,000,498.82 Trustee distributions 623.67 Standby Servicer distributions 3,326.24 Servicer distributions 104,527.82 Collateral Agent distributions 636.18 Reimbursement Obligations 50,645.13 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 1,000,498.82 --------------- 1,000,498.82 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 3,326.24 Servicing Fee (2.0%) 83,155.99 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 21,371.83 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 623.67 Trustee's out-of-pocket expenses 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 636.18 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 262,668.99 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 262,668.99 (viii)(A) Class B Coupon Interest - Unadjusted 33,320.70 Class B Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class B Interest Shortfall 0.00 Adjusted Class B Interest Distributable Amount 33,320.70 (v)(B) Class A Principal Distributable Amount - Current Month 2,381,018.70 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount 2,381,018.70 (vi) Certificate Insurer Premium 13,130.22 Certificate Insurer Premium Supplement 37,514.91 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 125,316.77 Class B Principal Carryover Shortfall - Previous Month(s) 1,000,498.82 Current Month Class B Principal Shortfall (1,000,033.90) Adjusted Class B Principal Distributable Amount 125,781.70 (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 47,398,916.37 Class A Principal Distributions 2,381,018.70 Class A End of Period Principal Balance 45,017,897.67 Class B Beginning of Period Principal Balance 3,495,178.62 Class B Principal Distributable Amount 125,781.70 Class B End of Period Principal Balance BEFORE Spread Account Distributions 3,369,396.92 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 3,369,396.92 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,962,549.13 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 371,782.90 (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) 2,590,766.23 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 2,590,766.23 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 33,320.70 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 2,557,445.53 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,557,445.53 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,381,018.70 (iii) Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 176,426.83 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 176,426.83 (vi) Certificate Insurer Premium 13,130.22 (v) Certificate Insurer Premium Supplement 37,514.91 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) 125,781.70 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 125,781.70 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 125,316.77 (iii) Prior month(s) carryover shortfalls 1,000,498.82 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (1,000,033.90) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (1,000,033.90) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 2,962,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 2,962,000.00 Aggregate Gross Principal Balance as of the close of 52,306,266.68 business on the last day of the Collection Period. DELINQUENCY RATIO 5.60% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 5.66% Delinquency Ratio for second preceding Determination Date 5.61% Delinquency Ratio for third preceding Determination Date 4.99% --------------- Average Delinquency Ratio 5.42% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 19,323,445.42 Current Period Defaulted Receivables 499,932.68 --------------- Total 19,823,378.10 Cumulative Defaulted Receivables 19,823,378.10 Original Pool Balance 119,362,032.46 Cumulative Default Ratio 16.61% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 757,992.63 Cram Down Losses 0.00 Net Liquidation Proceeds (363,231.70) --------------- Net Liquidation Losses 394,760.93 Cumulative Previous Net Losses 15,316,570.78 --------------- Cumulative Net Losses 15,711,331.71 Original Pool Balance 119,362,032.46 Cumulative Net Loss Ratio 13.16% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.35 Weighted Average Remaining Term 31.66 Weighted Average Annual Percentage Rate 20.37% SPREAD ACCOUNT Spread Account Cap 9% of Outstanding Certificate Balance 4,354,856.51 15% of Outstanding Certificate Balance 7,258,094.19 Is a Portfolio Performance Test violation continuing? (Y/N) Y Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 14,516,188.38 Spread Account Floor 3% of the Initial Certificate Balance 3,580,860.93 Outstanding Certificate Balance 48,387,294.59 Minimum Floor 100,000.00 --------------- Floor Amount 3,580,860.93 Required Spread Account Amount 14,516,188.38 Beginning of Period Spread Account Balance 9,288,751.50 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 8,866.50 Required addition to/(eligible withdrawal from) Spread Account 5,218,570.37 Earnings on Spread Account Balance 35,656.31 Amount of Spread Account deposit (withdrawal) 0.00 Amount of Withdrawal Allocated to B Piece Shortfalls 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 9,333,274.31 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 8/16/99 Collection Period 7/99 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 $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, per $1,000 $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 $3,405,286.91 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $323,963.71 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $3,081,323.20 (j) The amount of the distribution set forth in paragraph A.1. (g) above, per $1,000 $55.20 (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 $100,274.85 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $15,623.11 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $84,651.74 (p) The aggregate amount of the distribution to Certificateholders on the Distribution Date set forth above $40,966.78 (q) The amount of the distribution set forth in paragraph A.1. (p) above in respect of interest $15,623.11 (r) The amount of the distribution set forth in in paragraph A.1. (p) above in respect of principal $25,343.67 (s) Scheduled Payments due in such Collection Period $2,665,845.46 (t) Scheduled Payments collected in such Collection Period $2,345,093.75 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 $70,413,998.86 (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 $61,262,993.82 (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 $59,527,987.51 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8453999 (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 $1,735,006.31 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0246401 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 $143,443.11 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,520.70 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $1.77 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 $0.04 (e) The amount of any unpaid Servicing Fee $0.00 (f) The change in the amount of any unpaid Servicing Fee from the prior Distribution Date $0.00 The number and aggregate Purchase Amount of Receivables that became Purchased Receivables during the related Collection Period Number 0 Aggregate Purchase Amount $0.00 3 Payment Shortfalls. (a) The amount of the Class A-1 Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (b) above $0.00 (b) The amount of the Class A-2 Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (h) above $0.00 (c) The amount of the Class A Principal Carryover Shortfall after giving effect to the payments set forth in paragraph A.1.(c),(i) above $0.00 (d) The amount of the Class B Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (n) above $0.00 (e) The amount of the Class B Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (o) above $0.00 (f) The amount of the Certificate Interest Carryover shortfall shortfall after giving effect to the payments set forth in paragraph A.1. (q) above $0.00 (g) The amount of the Certificate Principal Carryover Shortfall after giving effect to the payment set forth in paragraph A.1. (r) above ($59,308.07) 4 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $20,108,378.82 Spread Account Balance $4,001,181.24 (b) The change in the spread account on the Distribution Date set forth above $42,658.90 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 $65,083.83 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $781,281.21 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 225 Aggregate Gross Amount $2,309,000.00 (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 184 Aggregate Gross Amount $1,928,000.00 7 Performance Triggers (a) Delinquency Ratio 5.73% (b) Average Delinquency Ratio 5.39% (c) Cumulative Default Ratio 15.37% (d) Cumulative Net Loss Ratio 12.19% (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? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 3,785,071.94 LOCK BOX NSF ITEMS: (38,097.73) TOTAL COLLECTION PROCEEDS: 3,746,974.21 FOR DISTRIBUTION DATE: 8/16/99 FOR DETERMINATION DATE: 8/9/99 FOR COLLECTION PERIOD: 7/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 70,413,998.86 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 70,413,998.86 Principal portion of payments collected (non-prepayments) 1,294,610.51 Prepayments in full allocable to principal 921,946.00 Collections allocable to principal 2,216,556.51 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 388,231.74 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 2,604,788.25 Realized Losses 781,281.21 Cram Down Losses 0.00 Ending Principal Balance 67,027,929.40 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 1,050,483.24 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 91,702.72 --------------- Total Interest 1,142,185.96 NOTE & CERTIFICATE INFORMATION, Beginning of Period Class A-1 Principal Balance 0.00 Beginning of Period Class A-2 Principal Balance 60,933,612.47 Beginning of Period Class B Principal Balance 1,760,349.98 Beginning of Period Certificate Balance 1,760,349.98 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 3,958,522.34 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 26,086.45 Scheduled Payments due in Collection Period 2,665,845.46 Scheduled Payments collected in Collection Period 2,345,093.75 Aggregate Amount of Realized Losses for preceding Distribution Date 781,281.21 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 0.00 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Note Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 225 2,309,000.00 60+ days delinquent 184 1,928,000.00 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. 4,237,000.00 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. 698,291.03 Delinquency Ratio for second preceding Determination Date 5.42% Delinquency Ratio for third preceding Determination Date 5.01% Cumulative Defaults for preceding Determination Date 22,361,339.98 Cumulative Net Losses for preceding Determination Date 17,593,859.30 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 6.6132% minus 2.5% 2.50% --------------- 4.1132% 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) 3,267,039.75 Liquidation Proceeds 388,231.74 Recoveries 91,702.72 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 0.18 Investment earnings from Prefunding Account 0.00 Investment earnings from Interest Reserve Account 284.43 Investment earnings from Collection Account 12,441.26 --------------- TOTAL DISTRIBUTION AMOUNT 3,759,700.08 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,294,610.51 Prepayments in full allocable to principal 921,946.00 Principal Balance of Liquidated Receivables 1,169,512.95 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 3,386,069.46 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 67,027,929.40 --------------- 60,325,136.46 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 94.5% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 3,386,069.46 Times Class A Noteholders' Percentage 91% --------------- 3,081,323.20 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 3,081,323.20 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 0.00 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 0.00 Class A-2 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 60,933,612.47 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 323,963.71 Class B Noteholders Principal Distributable Amount Principal Distributable Amount 3,386,069.46 Times Class B Percentage 2.5% --------------- Class B Principal Distributable Amount 84,651.74 Certificate Principal Distributable Amount Principal Distributable Amount 3,386,069.46 Times Certificate Percentage 2.5% --------------- Certificate Principal Distributable Amount 84,651.74 Class B Noteholders' Interest Amount Beginning of Period Principal Balance of the Notes 1,760,349.98 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 15,623.11 Certificateholders' Interest Amount Beginning of Period Principal Balance of the Certificates 1,760,349.98 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 15,623.11 Class B Excess Interest Amount Total Distribution Amount 3,759,700.08 minus Class A Principal and Interest Distributable Amount 3,081,323.20 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 15,623.11 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 84,651.74 Class B Principal Carryover Shortfall 0.00 Trustee distributions 586.78 Standby Servicer distributions 3,520.70 Servicer distributions 143,443.11 Collateral Agent distributions 537.12 Reimbursement Obligations 65,083.83 --------------- 364,930.49 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B and Certificates Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Certificates Principal Carryover Shortfall from previous period 0.00 --------------- 0.00 Class B Interest Carryover Shortfall from previous period 0.00 Interest on Class B Interest Carryover Shortfall 0.00 --------------- 0.00 Interest Carryover on Class B Interest Shortfall 0.00 Interest Earned 0.00 --------------- 0.00 Certificate Interest Carryover Shortfall from pervious perid 0.00 Interest on Certificate Interest Carryover Shortfall 0.00 --------------- 0.00 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 3,520.70 Servicing Fee (2.0%) 117,356.66 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 26,086.45 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 586.78 Indenture Trustee's out-of-pocket expenses 0.00 Unpaid Indenture Trustee Fee from prior Collection Periods 0.00 Unpaid Indenture Trustee's out-of-pocket exp. - prior Collection Periods 0.00 Owner Trustee Fee 0.00 Owner Trustee's out-of-pocket expenses 0.00 Unpaid Owner Trustee Fee from prior Collection Periods 0.00 Unpaid Owner Trustee's out-of-pocket exp - prior Collection Periods 0.00 (iv) Collateral Agent Fee 537.12 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 323,963.71 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 323,963.71 (vi)(A) Class B Note Interest - Unadjusted 15,623.11 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 15,623.11 (vii) Class A Principal Distributable Amount - Current Month 3,081,323.20 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 0.00 Class A Principal Distribution Amount to Class A-2 3,081,323.20 (viii) Note Insurer Premium 16,873.58 Note Insurer Premium Supplement 48,210.24 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 84,651.74 Class B Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class B Principal Shortfall 0.00 Adjusted Class B Principal Distributable Amount 84,651.74 (B) Certificate Interest - Unadjusted 15,623.11 Certificate Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on Certificate Interest Shortfall - Previous Month(s) 0.00 Interest on Certificate Interest Carryover from Prior Months 0.00 Current Month Certificate Interest Shortfall 0.00 Adjusted Certificate Interest Distributable Amount 15,623.11 Certificate Principal Distributable Amount - Current Month Unadjusted 84,651.74 Certificate Principal Carryover Shorfall - Previous Month(s) 0.00 Current Month Certificate Principal Shortfall (59,308.07) Adjusted Certificate Principal Distributable Amount 25,343.67 (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 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 60,933,612.47 Class A-2 Principal Distributions 3,081,323.20 Class A-2 End of Period Principal Amount (prior to turbo) 57,852,289.27 Additional Principal Distribution 0.00 Class A-2 End of Period Principal Amount 57,852,289.27 Class B Beginning of Period Principal Amount 1,760,349.98 Class B Principal Distributable Amount 84,651.74 Class B End of Period Principal Amount BEFORE Spread Account Distributions 1,675,698.24 Allocations of Cash Releases to Cover B Shortfalls 0.00 Class B End of Period Principal Amount AFTER Spread Account Distributions 1,675,698.24 Certificate Beginning of Period Principal Amount 1,760,349.98 Certificate Principal Distributable Amount 25,343.67 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 1,735,006.31 Allocation of Cash Releases to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 1,735,006.31 CLASS A-1 DEFICIENCY - INTEREST (i) Total Distribution Amount Available 3,759,700.08 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(i) and (v)A 148,087.71 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 3,611,612.37 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(v) B 3,611,612.37 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(v) B 323,963.71 (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) 3,287,648.66 CLASS B NOTE DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(vi)A 3,287,648.66 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(v)A 15,623.11 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 3,272,025.55 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a)(vii) 3,272,025.55 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(vii) 3,081,323.20 (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) 198,702.35 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.8(a)(viii) 190,702.35 (vi) Note Insurer Premium 16,873.58 (v) Note Insurer Premium Supplement 48,210.24 Deficiency Amount 0.00 Withdrawal from Spread Account to Cover Deficiency 0.00 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 125,618.52 CLASS B NOTES & CERTIFICATES DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) and (x) 125,618.52 (ii) Amounts payable pursuant to Section 5.8(a)(vi) and (x) 84,651.74 (iii) Prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/ B Notes (Deficiency) 40,966.78 Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 40,966.78 CERTIFICATE DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) and (x) 40,966.78 (ii) Current distribution amounts payable pursuant to Section 5.8(a)(vi) and (x) 15,623.11 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii)-(v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 25,343.67 CERTIFICATES DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a)(vi) and (x) 25,343.67 (ii) Amounts payable pursuant to Section 5.8(a)(vi) and (x) 84,651.74 (iii) Prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Amount Remaining for Further Distribution/B Notes (Deficiency) (59,308.07) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (59,308.07) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 4,237,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 4,237,000.00 Aggregate Gross Principal Balance as of the close of 73,931,808.52 business on the last day of the Collection Period. DELINQUENCY RATIO 5.73% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 5.73% Delinquency Ratio for second preceding Determination Date 5.42% Delinquency Ratio for third preceding Determination Date 5.01% ---------------- Average Delinquency Ratio 5.39% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 22,361,339.98 Current Period Defaulted Receivables 698,291.03 --------------- Total 23,059,631.01 Cumulative Defaulted Receivables 23,059,631.01 Original Pool Balance 150,000,000.00 Cumulative Default Ratio 15.37% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,169,512.95 Cram Down Losses 0.00 Net Liquidation Proceeds (479,934.46) --------------- Net Liquidation Losses 689,578.49 Cumulative Previous Net Losses 17,593,859.30 --------------- Cumulative Net Losses 18,283,437.79 Original Pool Balance 150,000,000.00 Cumulative Net Loss Ratio 12.19% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.00 Weighted Average Remaining Term 34.25 Weighted Average Annual Percentage Rate 20.35% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 67,027,929.40 minus the Securities Balance 61,262,993.82 --------------- 5,764,935.58 divided by the Aggregate Principal Balance 8.60% Floor OC Percent Aggregate Principal Balance 67,027,929.40 minus the Securities Balance 61,262,993.82 --------------- 5,764,935.58 divided by the initial Aggregate Principal Balance 150,000,000.00 --------------- 3.84% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 61,262,993.82 (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 0.40% if a Trigger Event, 15% minus the OC Percent 6.40% if a Portfolio Performance Event of Default, 30% minus the OC Percent 21.40% if an Insurance Agreement Event of Default, 30% 30.00% 30.00% times the Aggregate Principal Balance 67,027,929.40 --------------- 20,108,378.82 Requisite Amount 20,108,378.82 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 20,108,378.82 Beginning of Period Spread Account Balance 3,958,522.34 Additional Deposit for Subsequent Receivables Transfer 0.00 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 27,554.85 Required addition to/(eligible withdrawal from) Spread Account 16,122,301.63 Earnings on Spread Account Balance 15,104.05 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 4,001,181.24 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 8/16/99 Collection Period 7/99 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 $1,864,815.86 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $9,385.39 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $1,855,430.47 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $34.37 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $0.17 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $34.20 (g) The aggregate amount of the distribution to Class A-2 Noteholders on the Distribution Date set forth above $701,261.05 (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 $458,146.16 (j) The amount of the distribution set forth in paragraph A.1. (g) above, per $1,000 $11.37 (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 $174,563.79 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $24,646.19 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $149,917.60 (p) Scheduled Payments due in such Collection Period $2,017,233.27 (q) Scheduled Payments collected in such Collection Period $1,911,390.16 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 $55,399,435.23 (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 $48,492,304.62 (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 $45,849,452.44 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8276159 (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 $2,642,852.18 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0477054 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 $109,156.48 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,769.97 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $2.01 (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 $15,857,113.00 Spread Account Balance $3,548,880.73 (b) The change in the spread account on the Distribution Date set forth above $114,698.25 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 $51,580.63 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $546,379.44 (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 163 Aggregate Gross Amount $1,756,000.00 (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 109 Aggregate Gross Amount $1,182,000.00 7 Performance Triggers. (a) Delinquency Ratio 5.05% (b) Average Delinquency Ratio 4.78% (c) Cumulative Default Ratio 13.27% (d) Cumulative Net Loss Ratio 10.14% (e) Is a Portfolio Performance Test violation continuing? Yes (f) Has an Insurance Agreement Event of Default occurred? Yes
CPS AUTO RECEIVABLES TRUST 1997-4 STATEMENT TO NOTEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 3,020,054.67 LOCK BOX NSF ITEMS: (44,749.50) TOTAL COLLECTION PROCEEDS: 2,975,305.17 FOR DISTRIBUTION DATE: 8/16/99 FOR DETERMINATION DATE: 8/9/99 FOR COLLECTION PERIOD: 7/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 55,399,435.23 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 55,399,435.23 Principal portion of payments collected (non-prepayments) 992,494.57 Prepayments in full allocable to principal 685,957.00 Collections allocable to principal 1,678,451.57 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 317,560.89 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 1,996,012.46 Realized Losses 546,379.44 Cram Down Losses 0.00 Ending Principal Balance 52,857,043.33 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 $918,895.59 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 60,397.12 --------------- Total Interest $979,292.71 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 1,855,430.47 Beginning of Period Class A-2 Principal Balance 46,307,598.60 Beginning of Period Certificate Principal Balance 2,792,769.78 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 3,434,182.48 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 16,824.09 Scheduled Payments due in Collection Period 2,017,233.27 Scheduled Payments collected in Collection Period 1,911,390.16 Aggregate Amount of Realized Losses for preceding Distribution Date 546,379.44 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 0.00 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Note Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 163 1,756,000.00 60+ days delinquent 109 1,182,000.00 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. 2,938,000.00 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. 463,622.76 Delinquency Ratio for second preceding Determination Date 4.74% Delinquency Ratio for third preceding Determination Date 4.54% Cumulative Defaults for preceding Determination Date 13,589,360.30 Cumulative Net Losses for preceding Determination Date 10,246,430.51 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) 2,597,347.16 Liquidation Proceeds 317,560.89 Recoveries 60,397.12 Purchase Amounts 0.00 Note Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 10,249.99 --------------- TOTAL DISTRIBUTION AMOUNT 2,985,555.16 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 992,494.57 Prepayments in full allocable to principal 685,957.00 Principal Balance of Liquidated Receivables 863,940.33 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,542,391.90 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 52,857,043.33 --------------- 47,571,339.00 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 90.9% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 2,542,391.90 Times Class A Noteholders' Percentage 91% --------------- 2,313,576.63 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,313,576.63 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 1,855,430.47 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 9,385.39 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 2,542,391.90 Times Certificate Percentage 5.0% --------------- Class B Principal Distributable Amount 127,119.59 Certificateholders' Interest Amount Total Distribution Amount 2,985,555.16 minus Class A Principal and Interest Distributable Amount 2,566,076.91 Beginning of Period Principal Balance of the Certificates 2,792,769.78 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 24,646.19 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 24,646.19 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 127,119.59 Class B Principal Carryover Shortfall 22,798.01 Trustee distributions 461.66 Standby Servicer distributions 2,769.97 Servicer distributions 109,156.48 Collateral Agent distributions 424.63 Reimbursement Obligations 51,580.63 --------------- 80,521.09 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 22,798.01 --------------- 22,798.01 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 2,769.97 Servicing Fee (2.0%) 92,332.39 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 16,824.09 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 461.66 Indenture Trustee's out-of-pocket expenses 0.00 Unpaid Indenture Trustee Fee from prior Collection Periods 0.00 Unpaid Indenture Trustee's out-of-pocket exp. - prior Collection Periods 0.00 Owner Trustee Fee 0.00 Owner Trustee's out-of-pocket expenses 0.00 Unpaid Owner Trustee Fee from prior Collection Periods 0.00 Unpaid Owner Trustee's out-of-pocket exp - prior Collection Periods 0.00 (iv) Collateral Agent Fee 424.63 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v)(A) Class A-1 Interest Distributable Amount - Current Month 9,385.39 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 9,385.39 (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 2,313,576.63 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount to Class A-1 1,855,430.47 Class A Principal Distribution Amount to Class A-2 458,146.16 (viii) Note Insurer Premium 13,372.76 Note Insurer Premium Supplement 38,207.88 Other Reimbursement Obligations to Note Insurer 0.00 (ix) Transition Expenses to successor Servicer 0.00 (vi)(A) Certificate Note Interest - Unadjusted 24,646.19 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 24,646.19 (x) Certificate Principal Distributable Amount - Current Month Unadjusted 127,119.59 Certificate Principal Carryover Shortfall - Previous Month(s) 22,798.01 Current Month Certificate Principal Shortfall 0.00 Adjusted Certificate Principal Distributable Amount 149,917.60 (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. 80,521.08 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 1,855,430.47 Class A-1 Principal Distributions 1,855,430.47 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 46,307,598.60 Class A-2 Principal Distributions 458,146.16 Class A-2 End of Period Principal Amount (prior to turbo) 45,849,452.44 Additional Principal Distribution 0.00 Class A-2 End of Period Principal Amount 45,849,452.44 Certificate Beginning of Period Principal Amount 2,792,769.78 Certificate Principal Distributable Amount 149,917.60 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 2,642,852.18 Withdrawal from Spread Account to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 2,642,852.18 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,985,555.16 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 365,313.02 (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) 2,620,242.14 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,620,242.14 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,313,576.63 (iii) Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 306,665.51 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 306,665.51 (vi) Note Insurer Premium 13,372.76 (v) Note Insurer Premium Supplement 38,207.88 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) 255,084.88 CERTIFICATE - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 255,084.88 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 24,646.19 (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) 230,438.69 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 230,438.69 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 127,119.59 (iii) Prior month(s) carryover shortfalls 22,798.01 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Unadjusted Amount Remaining for Further Distribution/(Deficiency) 80,521.08 Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 80,521.08 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 2,938,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 2,938,000.00 Aggregate Gross Principal Balance as of the close of 58,199,155.32 business on the last day of the Collection Period. DELINQUENCY RATIO 5.05% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 5.05% Delinquency Ratio for second preceding Determination Date 4.75% Delinquency Ratio for third preceding Determination Date 4.54% --------------- Average Delinquency Ratio 4.78% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 13,589,360.30 Current Period Defaulted Receivables 463,622.76 --------------- Total 14,052,983.06 Cumulative Defaulted Receivables 14,052,983.06 Original Pool Balance 105,860,630.11 Cumulative Default Ratio 13.27% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 863,940.33 Cram Down Losses 0.00 Net Liquidation Proceeds (377,958.01) --------------- Net Liquidation Losses 485,982.32 Cumulative Previous Net Losses 10,246,430.51 --------------- Cumulative Net Losses 10,732,412.83 Original Pool Balance 105,860,630.11 Cumulative Net Loss Ratio 10.14% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 56.79 Weighted Average Remaining Term 36.32 Weighted Average Annual Percentage Rate 20.24% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 52,857,043.33 minus the Securities Balance 48,492,304.62 --------------- 4,364,738.71 divided by the Aggregate Principal Balance 8.26% Floor OC Percent Aggregate Principal Balance 52,857,043.33 minus the Securities Balance 48,492,304.62 --------------- 4,364,738.71 divided by the initial Aggregate Principal Balance 105,860,630.11 --------------- 4.12% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 48,492,304.62 (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 0.74% if a Trigger Event, 15% minus the OC Percent 6.74% if a Portfolio Performance Event of Default, 30% minus the OC Percent 21.74% if an Insurance Agreement Event of Default, 30% 30.00% 30.00% times the Aggregate Principal Balance 52,857,043.33 --------------- 15,857,113.00 Requisite Amount 15,857,113.00 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 15,857,113.00 Beginning of Period Spread Account Balance 3,434,182.48 Spread Account Deposit (Withdrawal) from Current Distributions 80,521.08 Transfer (to) from Cross-Collateralized Spread Accounts 21,055.90 Required addition to/(eligible withdrawal from) Spread Account 12,321,353.54 Earnings on Spread Account Balance 13,121.27 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 3,548,880.73 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 8/16/99 Collection Period 7/99 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 $2,453,480.03 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $58,575.36 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $2,394,904.67 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 $44.01 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $1.05 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $42.96 (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 $126,556.41 (n) The amount of the distribution set forth in paragraph A.1. (m) above in respect of interest $23,333.47 (o) The amount of the distribution set forth in in paragraph A.1. (m) above in respect of principal $103,222.94 (p) Scheduled Payments due in such Collection Period $1,876,706.39 (q) Scheduled Payments collected in such Collection Period $1,797,229.62 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 $53,161,037.50 (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 $46,559,418.60 (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 $44,008,598.02 (d) The Note Pool Factor as of the close of business on the last day set forth above 0.8278356 (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 $2,550,820.58 (f) The Certificate Pool Factor as of the close of business on the last day set forth above 0.0479829 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 $106,035.00 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,658.05 (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 ($28,365.23) 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 $15,158,782.24 Spread Account Balance $3,425,558.60 (b) The change in the spread account on the Distribution Date set forth above $32,946.25 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 $50,976.63 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $567,289.93 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 121 Aggregate Gross Amount $1,317,000.00 (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 120 Aggregate Gross Amount $1,309,000.00 7 Performance Triggers. (a) Delinquency Ratio 4.76% (b) Average Delinquency Ratio 4.80% (c) Cumulative Default Ratio 11.45% (d) Cumulative Net Loss Ratio 9.25% (e) Is a Portfolio Performance Test violation continuing? Yes (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: 2,942,617.47 LOCK BOX NSF ITEMS: (24,075.63) TOTAL COLLECTION PROCEEDS: 2,918,541.84 FOR DISTRIBUTION DATE: 8/16/99 FOR DETERMINATION DATE: 8/9/99 FOR COLLECTION PERIOD: 7/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 53,161,037.50 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 53,161,037.50 Principal portion of payments collected (non-prepayments) 1,034,209.86 Prepayments in full allocable to principal 747,902.00 Collections allocable to principal 1,782,111.86 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 282,361.58 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 2,064,473.44 Realized Losses 567,289.93 Cram Down Losses 0.00 Ending Principal Balance 50,529,274.13 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 $763,019.76 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 91,048.64 --------------- Total Interest $854,068.40 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 11,228,502.69 Beginning of Period Class A-2 Principal Balance 35,175,000.00 Beginning of Period Certificate Principal Balance 2,654,043.52 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 3,392,612.35 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 17,433.27 Scheduled Payments due in Collection Period 1,876,706.39 Scheduled Payments collected in Collection Period 1,797,229.62 Aggregate Amount of Realized Losses for preceding Distribution Date 567,289.93 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 0.00 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Note Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 121 1,317,000.00 60+ days delinquent 120 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 2,626,000.00 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 400,951.58 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 4.52% Delinquency Ratio for third preceding Determination Date 5.11% Cumulative Defaults for preceding Determination Date 10,559,057.44 Cumulative Net Losses for preceding Determination Date 8,372,662.38 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) 2,545,131.62 Liquidation Proceeds 282,361.58 Recoveries 91,048.64 Purchase Amounts 0.00 Note Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00 Investment earnings from Collection Account 9,616.09 --------------- TOTAL DISTRIBUTION AMOUNT 2,928,157.93 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,034,209.86 Prepayments in full allocable to principal 747,902.00 Principal Balance of Liquidated Receivables 849,651.51 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 2,631,763.37 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 50,529,274.13 -------------- 45,476,346.72 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 71.7% --------------- 91.0% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 2,631,763.37 Times Class A Noteholders' Percentage 91% --------------- 2,394,904.67 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 2,394,904.67 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 11,228,502.69 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 58,575.36 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 2,631,763.37 Times Certificate Percentage 5.0% --------------- Class B Principal Distributable Amount 131,588.17 Certificateholders' Interest Amount Total Distribution Amount 2,928,157.93 minus Class A Principal and Interest Distributable Amount 2,641,080.03 Beginning of Period Principal Balance of the Certificates 2,654,043.52 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 23,333.47 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 23,333.47 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 131,588.17 Class B Principal Carryover Shortfall 0.00 Trustee distributions 443.01 Standby Servicer distributions 2,658.05 Servicer distributions 106,035.00 Collateral Agent distributions 408.81 Reimbursement Obligations 50,976.63 --------------- 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 2,658.05 Servicing Fee (2.0%) 88,601.73 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 17,433.27 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 443.01 Indenture Trustee's out-of-pocket expenses 0.00 Unpaid Indenture Trustee Fee from prior Collection Periods 0.00 Unpaid Indenture Trustee's out-of-pocket exp. - prior Collection Periods 0.00 Owner Trustee Fee 0.00 Owner Trustee's out-of-pocket expenses 0.00 Unpaid Owner Trustee Fee from prior Collection Periods 0.00 Unpaid Owner Trustee's out-of-pocket exp - prior Collection Periods 0.00 (iv) Collateral Agent Fee 408.81 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v)(A) Class A-1 Interest Distributable Amount - Current Month 58,575.36 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 58,575.36 (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 2,394,904.67 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Principal Distribution Amount to Class A-1 2,394,904.67 Class A Principal Distribution Amount to Class A-2 0.00 (viii) Note Insurer Premium 14,302.79 Note Insurer Premium Supplement 36,673.83 Other Reimbursement Obligations to Note Insurer 0.00 (ix) Transition Expenses to successor Servicer 0.00 (vi)(A)Certificate Note Interest - Unadjusted 23,333.47 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 23,333.47 (x) Certificate Principal Distributable Amount - Current Month Unadjusted 131,588.17 Certificate Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Certificate Principal Shortfall (28,365.23) Adjusted Certificate Principal Distributable Amount 103,222.94 (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 11,228,502.69 Class A-1 Principal Distributions 2,394,904.67 Class A-1 End of Period Principal Amount (prior to turbo) 8,833,598.02 Additional Principal Distribution 0.00 Class A-1 End of Period Principal Amount 8,833,598.02 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 2,654,043.52 Certificate Principal Distributable Amount 103,222.94 Certificate End of Period Principal Amount BEFORE Spread Account Distributions 2,550,820.58 Withdrawal from Spread Account to Cover Certificate Shortfalls 0.00 Certificate End of Period Principal Amount AFTER Spread Account Distributions 2,550,820.58 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 2,928,157.93 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 355,720.23 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 2,572,437.70 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 2,572,437.70 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 2,394,904.67 (iii)Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 177,533.03 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 177,533.03 (vi) Note Insurer Premium 14,302.79 (v) Note Insurer Premium Supplement 36,673.83 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) 126,556.41 CERTIFICATE DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 126,556.41 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 23,333.47 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 103,222.94 CERTIFICATE DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 103,222.94 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 131,588.17 (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) (28,365.23) Withdrawal from Spread Account to B Piece Cover Shortfalls 0.00 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 2,626,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 2,626,000.00 Aggregate Gross Principal Balance as of the close of 55,159,876.14 business on the last day of the Collection Period. DELINQUENCY RATIO 4.76% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 4.76% Delinquency Ratio for second preceding Determination Date 4.52% Delinquency Ratio for third preceding Determination Date 5.11% ---------------- Average Delinquency Ratio 4.80% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 10,559,057.44 Current Period Defaulted Receivables 400,951.58 --------------- Total 10,960,009.02 Cumulative Defaulted Receivables 10,960,009.02 Original Pool Balance 95,706,307.00 Cumulative Default Ratio 11.45% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 849,651.51 Cram Down Losses 0.00 Net Liquidation Proceeds (373,410.22) --------------- Net Liquidation Losses 476,241.29 Cumulative Previous Net Losses 8,372,662.38 --------------- Cumulative Net Losses 8,848,903.67 Original Pool Balance 95,706,307.00 Cumulative Net Loss Ratio 9.25% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.00 Weighted Average Remaining Term 37.57 Weighted Average Annual Percentage Rate 20.19% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 50,529,274.13 minus the Securities Balance 46,559,418.60 --------------- 3,969,855.53 divided by the Aggregate Principal Balance 7.86% Floor OC Percent Aggregate Principal Balance 50,529,274.13 minus the Securities Balance 46,559,418.60 --------------- 3,969,855.53 divided by the initial Aggregate Principal Balance 95,706,307.00 --------------- 4.15% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 46,559,418.60 (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 1.1% if a Trigger Event, 15% minus the OC Percent 7.1% if a Portfolio Performance Event of Default, 30% minus the OC Percent 22.1% if an Insurance Agreement Event of Default, 30% 30% 30% times the Aggregate Principal Balance 50,529,274.13 --------------- 15,158,782.24 Requisite Amount 15,158,782.24 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 15,158,782.24 Beginning of Period Spread Account Balance 3,392,612.35 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 20,072.22 Required addition to/(eligible withdrawal from) Spread Account 11,746,097.67 Earnings on Spread Account Balance 12,874.03 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 3,425,558.60 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 8/16/99 Collection Period 7/99 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 $5,137,551.01 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $562,190.17 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $4,575,360.84 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $28.93 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $3.17 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $25.76 (g) The aggregate amount of the distribution to Class B Certificateholders on the Distribution Date set forth above $375,120.73 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $54,139.17 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $320,981.56 (j) Scheduled Payments due in such Collection Period $3,989,561.49 (k) Scheduled Payments collected in such Collection Period $3,794,675.38 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 $118,355,824.37 (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 $113,879,935.56 (c) The Pool factor as of the close of business on the last day set forth above 0.9621828 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 $232,708.23 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $2,465.75 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.31 (d) The amount of the payment set forth in paragraph B.2. (b) above per $1,000 interest $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 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 $35,411.89 (b) Distributions (to) from Collection Account ($3,742.00) for Payaheads (c) Interest earned on Payahead Balances $343.74 (d) Ending Payahead Account Balance $32,013.63 5 Spread Account. (a) The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance $34,163,980.67 Spread Account Balance $22,791,173.28 (b) The change in the spread account on the Distribution Date set forth above $106,571.61 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 $126,738.64 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,132,501.33 (b) The change in the aggregate amount of Realized Losses from the prior Distribution Date $0.00 (c) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent between 31 and 59 days Number 316 Aggregate Gross Amount $3,590,000.00 (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 282 Aggregate Gross Amount $3,422,000.00 8 Performance Triggers. (a) Delinquency Ratio 5.65% (b) Average Delinquency Ratio 5.38% (c) Cumulative Default Ratio 9.33% (d) Cumulative Net Loss Ratio 7.19% (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: 5,918,882.74 LOCK BOX NSF ITEMS: (65,193.44) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 3,742.00 COLLECTION ACCOUNT INTEREST 18,785.42 PAYAHEAD ACCOUNT INTEREST 343.74 TOTAL COLLECTION PROCEEDS: 5,876,560.46 FOR DISTRIBUTION DATE: 8/16/99 FOR DETERMINATION DATE: 8/9/99 FOR COLLECTION PERIOD: 7/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 118,355,824.37 Principal portion of payments collected (non-prepayments) 1,772,384.98 Prepayments in full allocable to principal 1,378,558.00 Collections allocable to principal 3,150,942.98 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 532,724.99 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 3,683,667.97 Realized Losses 1,132,501.33 Cram Down Losses 0.00 Ending Principal Balance 113,539,655.07 INTEREST Collections allocable to interest 2,022,290.40 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 170,602.09 --------------- Total Interest 2,192,892.49 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 112,438,033.48 Beginning of Period Class B Principal Balance 6,338,244.48 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 22,684,601.67 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 35,448.52 Aggregate Payahead Balance 31,669.89 Aggregate Payahead Balance for preceding Distribution Date 35,411.89 Interest Earned on Payahead Balances 343.74 Scheduled Payments due in Collection Period 3,989,561.49 Scheduled Payments collected in Collection Period 3,794,675.38 Aggregate Amount of Realized Losses for preceding Distribution Date 1,132,501.33 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 0.00 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to 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 316 3,590,000.00 60+ days delinquent 282 3,422,000.00 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 7,012,000.00 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 952,686.83 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 5.24% Delinquency Ratio for third preceding Determination Date 5.24% Cumulative Defaults for preceding Determination Date 16,491,895.02 Cumulative Net Losses for preceding Determination Date 12,475,796.19 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) 5,173,233.38 Liquidation Proceeds 532,724.99 Recoveries 170,602.09 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 5,876,560.46 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 1,772,384.98 Prepayments in full allocable to principal 1,378,558.00 Principal Balance of Liquidated Receivables 1,665,226.32 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 4,816,169.30 Class A Principal Distributable Amount Principal Distributable Amount 4,816,169.30 Times Class A Percentage (95%) 95% --------------- 4,575,360.84 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 4,575,360.84 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 112,438,033.48 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 562,190.17 Class B Principal Distributable Amount Principal Distributable Amount 4,816,169.30 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 240,808.47 Class B Coupon Interest Amount Beginning of Period Principal Balance of the Certificates 6,338,244.48 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 54,139.17 Class B Excess Interest Amount Total Distribution Amount 5,876,560.46 minus Class A Principal and Interest Distributable Amount 5,137,551.01 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Class B Coupon Interest 54,139.17 Class B Interest Carryover Shortfall 0.00 Class B Principal Distributable Amount 240,808.47 Class B Principal Carryover Shortfall 420,453.58 Trustee distributions 986.30 Standby Servicer distributions 2,465.75 Servicer distributions 232,708.23 Collateral Agent distributions 989.80 Reimbursement Obligations 126,738.64 --------------- 0.00 CARRYOVER SHORTFALLS FROM PRIOR PERIODS Class B Principal Carryover Shortfall from previous period 420,453.58 --------------- 420,453.58 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 2,465.75 Servicing Fee (2.0%) 197,259.71 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 35,448.52 Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 (ii) Transition Expenses to Standby Servicer 0.00 (iii) Trustee Fee 986.30 Trustee's out-of-pocket expenses 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 989.80 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 562,190.17 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 562,190.17 (viii)(A)Class B Coupon Interest - Unadjusted 54,139.17 Class B Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class B Interest Shortfall 0.00 Adjusted Class B Interest Distributable Amount 54,139.17 (v)(B) Class A Principal Distributable Amount - Current Month 4,575,360.84 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 4,575,360.84 (vi) Certificate Insurer Premium 36,853.08 Certificate Insurer Premium Supplement 89,885.56 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 240,808.47 Class B Principal Carryover Shortfall - Previous Month(s) 420,453.58 Current Month Class B Principal Shortfall (340,280.48) Adjusted Class B Principal Distributable Amount 320,981.56 (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 112,438,033.48 Class A Principal Distributions 4,575,360.84 Class A End of Period Principal Balance 107,862,672.64 Class B Beginning of Period Principal Balance 6,338,244.48 Class B Principal Distributable Amount 320,981.56 Class B End of Period Principal Balance BEFORE Spread Account Distributions 6,017,262.92 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 6,017,262.92 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 5,876,560.46 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 799,340.25 (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 Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 5,077,220.21 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 5,077,220.21 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 54,139.17 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 5,023,081.04 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 5,023,081.04 (ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 4,575,360.84 (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) 447,720.20 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 447,720.20 (vi) Certificate Insurer Premium 36,853.08 (v) Certificate Insurer Premium Supplement 89,885.56 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) 320,981.56 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 320,981.56 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 240,808.47 (iii) Prior month(s) carryover shortfalls 420,453.58 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount YES Unadjusted Amount Remaining for Further Distribution/(Deficiency) (340,280.48) Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) (340,280.48) CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 7,012,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 7,012,000.00 Aggregate Gross Principal Balance as of the close of 124,197,756.01 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 5.24% Delinquency Ratio for third preceding Determination Date 5.24% --------------- Average Delinquency Ratio 5.38% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 16,491,895.02 Current Period Defaulted Receivables 952,686.83 --------------- Total 17,444,581.85 Cumulative Defaulted Receivables 17,444,581.85 Original Pool Balance 186,954,818.61 Cumulative Default Ratio 9.33% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 1,665,226.32 Cram Down Losses 0.00 Net Liquidation Proceeds (703,327.08) --------------- Net Liquidation Losses 961,899.24 Cumulative Previous Net Losses 12,475,796.19 --------------- Cumulative Net Losses 13,437,695.43 Original Pool Balance 186,954,818.61 Cumulative Net Loss Ratio 7.19% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.10 Weighted Average Remaining Term 40.39 Weighted Average Annual Percentage Rate 20.27% SPREAD ACCOUNT Spread Account Cap 13.5% of Outstanding Certificate Balance 15,373,791.30 18.5% of Outstanding Certificate Balance 21,067,788.08 Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 34,163,980.67 Spread Account Floor 3% of the Initial Certificate Balance 5,608,644.56 Outstanding Certificate Balance 113,879,935.56 Minimum Floor 100,000.00 --------------- Floor Amount 5,608,644.56 Required Spread Account Amount 34,163,980.67 Beginning of Period Spread Account Balance 22,684,601.67 Spread Account Deposit (Withdrawal) from Current Distributions 0.00 Transfer (to) from Cross-Collateralized Spread Accounts 19,455.66 Allocations of cash releases from previous pools 0.00 Required addition to/(eligible withdrawal from) Spread Account 11,459,923.34 Earnings on Spread Account Balance 87,115.95 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 22,791,173.28 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 8/16/99 Collection Period 7/99 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 $5,997,200.65 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $708,068.84 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $5,289,131.81 (d) The amount of the distribution set forth in paragraph A.1. (a) above, per $1,000 interest $29.91 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 interest $3.53 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 interest $26.38 (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) $341,649.33 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $63,273.97 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $278,375.36 (j) Scheduled Payments due in such Collection Period $4,761,618.44 (k) Scheduled Payments collected in such Collection Period $4,468,449.35 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 $141,296,653.19 (c) The Aggregate Pool factor as of the close of business on the last day set forth above 0.6695182 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 $285,260.79 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,059.67 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 interest $1.42 (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 $37,496.69 (b) Distributions (to) from Collection Account ($6,402.65) for Payaheads (c) Interest earned on Payahead Balances $285.77 (d) Ending Payahead Account Balance $31,379.81 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 $42,388,995.96 Spread Account Balance $22,474,668.92 (b) The change in the spread account on the Distribution Date set forth above $208,651.46 6 Policy. (a) The amount paid to the Certificateholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Certificate Insurer on such Distribution Date $157,722.39 7 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,322,574.86 (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 400 Aggregate Gross Amount $4,649,000.00 (d) The number of Receivables and the aggregate gross amount scheduled to be paid, including unearned finance and other charges, for which Obligors are delinquent 60 days or more Number 370 Aggregate Gross Amount $4,391,000.00 8 Performance Triggers. (a) Delinquency Ratio 5.90% (b) Average Delinquency Ratio 5.39% (c) Cumulative Default Ratio 7.93% (d) Cumulative Net Loss Ratio 5.85% (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 0.00 INPUTS GROSS COLLECTION PROCEEDS: 6,958,952.06 LOCK BOX NSF ITEMS: (77,905.25) TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: 6,402.65 COLLECTION ACCOUNT INTEREST 22,666.57 PAYAHEAD ACCOUNT INTEREST 285.77 TOTAL COLLECTION PROCEEDS: 6,910,401.80 FOR DISTRIBUTION DATE: 8/16/99 FOR DETERMINATION DATE: 8/9/99 FOR COLLECTION PERIOD: 7/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 146,864,060.92 Principal portion of payments collected (non-prepayments) 2,020,679.37 Prepayments in full allocable to principal 1,368,799.00 Collections allocable to principal 3,389,478.37 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 855,453.94 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 4,244,932.31 Realized Losses 1,322,574.86 Cram Down Losses 0.00 Ending Principal Balance 141,296,653.75 INTEREST Collections allocable to interest 2,447,769.98 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 217,699.51 --------------- Total Interest 2,665,469.49 CERTIFICATE INFORMATION Beginning of Period Class A Principal Balance 139,520,952.84 Beginning of Period Class B Principal Balance 7,343,207.52 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 22,266,017.46 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 40,487.19 Aggregate Payahead Balance 31,094.04 Aggregate Payahead Balance for preceding Distribution Date 37,496.69 Interest Earned on Payahead Balances 285.77 Scheduled Payments due in Collection Period 4,761,618.44 Scheduled Payments collected in Collection Period 4,468,449.35 Aggregate Amount of Realized Losses for preceding Distribution Date 1,322,574.86 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 0.00 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to 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 400 4,649,000.00 60+ days delinquent 370 4,391,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 0 0.00 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close 9,040,000.00 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 1,164,477.78 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 5.34% Delinquency Ratio for third preceding Determination Date 4.92% Cumulative Defaults for preceding Determination Date 15,571,155.09 Cumulative Net Losses for preceding Determination Date 11,246,682.88 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) 5,837,248.35 Liquidation Proceeds 855,453.94 Recoveries 217,699.51 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 6,910,401.80 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 2,020,679.37 Prepayments in full allocable to principal 1,368,799.00 Principal Balance of Liquidated Receivables 2,178,028.80 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 5,567,507.17 Class A Principal Distributable Amount Principal Distributable Amount 5,567,507.17 Times Class A Percentage (95%) 95% --------------- 5,289,131.81 Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 5,289,131.81 Class A Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 139,520,952.84 Multiplied by Certificate Pass-Through Rate 6.09% Multiplied by 30/360 0.0833333 --------------- Class A Interest Distributable Amount 708,068.84 Class B Principal Distributable Amount Principal Distributable Amount 5,567,507.17 Times Class B Percentage (5%) 5% --------------- Class B Principal Distributable Amount 278,375.36 Class B Interest Distributable Amount Beginning of Period Principal Balance of the Certificates 7,343,207.52 Multiplied by Certificate Pass-Through Rate 10.34% Multiplied by 30/360 0.0833333 --------------- Class B Coupon Interest Amount 63,273.97 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 3,059.67 Servicing Fee (2.0%) 244,773.60 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 40,487.19 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 917.90 Trustee's out-of-pocket expenses 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 (iv) Collateral Agent Fee 917.90 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 708,068.84 Prior Month(s) Class A Carryover Shortfall 0.00 Class A Interest Carryover Shortfall 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class A Interest Carryover Shortfall 0.00 Class A Interest Distributable Amount 708,068.84 (vi) Class B Coupon Interest - Unadjusted 63,273.97 Class B Interest Carryover Shortfall - Previous Month(s) 0.00 Interest on B Interest Shortfall - Previous Month(s) 0.00 Interest on Interest Carryover from Prior Months 0.00 Current Month Class B Interest Shortfall 0.00 Adjusted Class B Interest Distributable Amount 63,273.97 (vii) Class A Principal Distributable Amount - Current Month 5,289,131.81 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 5,289,131.81 (viii) Certificate Insurer Premium 45,862.54 Certificate Insurer Premium Supplement 111,859.85 Other Reimbursement Obligations to Certificate Insurer 0.00 (ix) Transition Expenses to successor Servicer 0.00 (x) Class B Principal Distributable Amount - Unadjusted 278,375.36 Class B Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class B Principal Carryover Shortfall 0.00 Adjusted Class B Principal Distributable Amount 278,375.36 (xi) Remaining amounts to Collateral Agent for deposit in Spread Account 123,673.17 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 139,520,952.84 Class A Principal Distributions 5,289,131.81 Class A End of Period Principal Balance 134,231,821.03 Class B Beginning of Period Principal Balance 7,343,207.52 Class B Principal Distributable Amount 278,375.36 Class B End of Period Principal Balance BEFORE Spread Account Distributions 7,064,832.16 Withdrawal from Spread Account to Cover B Shortfalls 0.00 Class B End of Period Principal Balance AFTER Spread Account Distributions 7,064,832.16 CLASS A DEFICIENCY - INTEREST (i) Total Distribution Amount Available 6,910,401.80 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 998,225.10 (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) 5,912,176.70 CLASS B DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 5,912,176.70 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 63,273.97 (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) 5,848,902.73 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 5,848,902.73 (ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 5,289,131.81 (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) 559,770.92 OTHER DEFICIENCIES - INSURANCE (i) Amounts available to make payments for insurance 559,770.92 Certificate Insurer Premium 45,862.54 Certificate Insurer Premium Supplement 111,859.85 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) 402,048.53 CLASS B DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 402,048.53 (ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 278,375.36 (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) 123,673.17 Withdrawal from Spread Account to B PieceCover Shortfalls 0.00 Adjusted Amount Remaining for Further Distribution/(Deficiency) 123,673.17 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 9,040,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 9,040,000.00 Aggregate Gross Principal Balance as of the close of 153,313,975.72 business on the last day of the Collection Period. Delinquency Ratio 5.90% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 5.90% Delinquency Ratio for second preceding Determination Date 5.34% Delinquency Ratio for third preceding Determination Date 4.92% --------------- Average Delinquency Ratio 5.39% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 15,571,155.09 Current Period Defaulted Receivables 1,164,477.78 --------------- Total 16,735,632.87 Cumulative Defaulted Receivables 16,735,632.87 Original Pool Balance 211,042,290.56 Cumulative Default Ratio 7.93% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of Net Liquidation Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 2,178,028.80 Cram Down Losses 0.00 Net Liquidation Proceeds (1,073,153.45) --------------- Net Liquidation Losses 1,104,875.35 Cumulative Previous Net Losses 11,246,682.88 --------------- Cumulative Net Losses 12,351,558.23 Original Pool Balance 211,042,290.56 Cumulative Net Loss Ratio 5.85% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.46 Weighted Average Remaining Term 42.81 Weighted Average Annual Percentage Rate 20.37% SPREAD ACCOUNT Spread Account Cap 13.5% of Outstanding Certificate Balance 19,075,048.18 19.5% of Outstanding Certificate Balance 27,552,847.37 Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) Y --------------- Cap Amount 42,388,995.96 Spread Account Floor 3% of the Initial Certificate Balance 6,331,268.70 Outstanding Certificate Balance 141,296,653.19 Minimum Floor 100,000.00 --------------- Floor Amount 6,331,268.70 Required Spread Account Amount 42,388,995.96 Beginning of Period Spread Account Balance 22,266,017.46 Spread Account Deposit (Withdrawal) from Current Distributions 123,673.17 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 19,999,305.33 Earnings on Spread Account Balance 84,978.29 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 22,474,668.92 Reserve Fund Initial Class B Certificate Balance 10,552,114.40 Aggregate Pool Factor 0.6695182 Class B Principal % 5.00% Have both tests for Reserve Fund reduction been satisfied? (Y/N) N Requisite Amount If both tests for reduction have NOT been met, then 10% of Original Class B Outstanding Certificate Balance 1,055,211.40 otherwise 10% of Class B Outstanding Certificate Balance 706,483.22 or Cap Amount 1,055,211.40 Reserve Fund Floor Outstanding Class B Certificate Balance 7,064,832.16 Minimum Floor 300,000.00 --------------- Floor Amount 300,000.00 Required Reserve Fund Amount 1,055,211.40 Beginning of Period Reserve Fund Balance 1,055,211.40 Reserve Fund Deposit (Withdrawal) from Current Distributions 0.00 Required addition to/(eligible withdrawal from) Reserve Fund 0.00 Earnings on Reserve Fund Balance 4,054.98 Amount of Reserve Fund deposit (withdrawal) (4,054.98) 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 8/16/99 Collection Period 7/99 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 $6,140,039.36 (h) The amount of the distribution set forth in paragraph A.1. (g) above in respect of interest $254,324.16 (i) The amount of the distribution set forth in in paragraph A.1. (g) above in respect of principal $5,885,715.20 (j) The amount of the distribution set forth in paragraph A.1. (g) above, per $1,000 $66.74 (k) The amount of the distribution set forth in paragraph A.1. (h) above, per $1,000 $2.76 (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 $178,230,290.93 (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 $153,770,792.25 (c) The Note Pool Factor as of the close of business on the last day set forth above 0.8627646 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 $337,347.30 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $3,713.13 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $9.37 (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 $171,661,412.36 Spread Account Balance $21,343,713.96 (b) The change in the spread account on the Distribution Date set forth above $1,181,664.97 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 $212,716.26 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,391,260.63 (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 419 Aggregate Gross Amount $5,109,000.00 (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 370 Aggregate Gross Amount $4,495,000.00 7 Performance Triggers (a) Delinquency Ratio 5.17% (b) Average Delinquency Ratio 4.74% (c) Cumulative Default Ratio 6.11% (d) Cumulative Net Loss Ratio 5.44% (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: 8,437,322.22 LOCK BOX NSF ITEMS: (121,677.26) TOTAL COLLECTION PROCEEDS: 8,315,644.96 FOR DISTRIBUTION DATE: 8/16/99 FOR DETERMINATION DATE: 8/9/99 FOR COLLECTION PERIOD: 7/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 178,230,290.93 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 178,230,290.93 Principal portion of payments collected (non-prepayments) 2,215,104.24 Prepayments in full allocable to principal 2,008,420.00 Collections allocable to principal 4,223,524.24 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 954,093.70 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 5,177,617.94 Realized Losses 1,391,260.63 Cram Down Losses 0.00 Ending Principal Balance 171,661,412.36 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 2,894,384.71 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 243,642.31 --------------- Total Interest 3,138,027.02 NOTE & CERTIFICATE INFORMATION Beginning of Period Class A-1 Principal Balance 0.00 Beginning of Period Class A-2 Principal Balance 59,124,507.45 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 20,162,048.99 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 40,296.82 Scheduled Payments due in Collection Period 5,596,058.19 Scheduled Payments collected in Collection Period 5,109,488.95 Aggregate Amount of Realized Losses for preceding Distribution Date 1,391,260.63 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 0.00 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Note Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 419 5,109,000.00 60 - 89 days delinquent 206 2,435,000.00 90 - 119 days delinquent 103 1,270,000.00 120+ days delinquent 61 790,000.00 PURCHASED RECEIVABLES Aggregate Purchase Amt # of Receivables of Receivables 0 0.00 INFORMATION FOR PORTFOLIO PERFORMANCE TESTS Principal Balance of all Receivables delinquent more than 30 days as of the close 9,604,000.00 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 1,595,110.03 during the related Collection Period. Delinquency Ratio for second preceding Determination Date 4.68% Delinquency Ratio for third preceding Determination Date 4.38% Cumulative Defaults for preceding Determination Date 13,097,222.23 Cumulative Net Losses for preceding Determination Date 11,632,714.72 Does a Trigger Event Exist? N Is a Portfolio Performance Test violation continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) Y CALCULATIONS TOTAL DISTRIBUTION AMOUNT All collections on receivables (incl. amts from payahead, excl. amounts deposited into payahead) 7,117,908.95 Liquidation Proceeds 954,093.70 Recoveries 243,642.31 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 27,661.40 --------------- TOTAL DISTRIBUTION AMOUNT 8,343,306.36 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 2,215,104.24 Prepayments in full allocable to principal 2,008,420.00 Principal Balance of Liquidated Receivables 2,345,354.33 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 6,568,878.57 Class A Target Amount 90% 90% times Aggregate Principal Balance of Receivables 171,661,412.36 --------------- 154,495,271.12 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 98.0% After Target Payment Date, before Payment Date when A-2 reduced to 0 89.6% On Payment Date when Class A-2 Notes will be reduced to 0 32.6% --------------- 89.6% Class A Noteholders' Principal Distributable Amount Principal Distributable Amount 6,568,878.57 Times Class A Noteholders' Percentage 89.6% --------------- 5,885,715.20 Note Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00 --------------- Class A Principal Distributable Amount 5,885,715.20 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 0.00 Multiplied by the Note Rate 5.6375% Multiplied by actual/360, or for the first Distribution Date, by 18/360 0.0888889 --------------- Class A Interest Distributable Amount 0.00 Class A-2 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 52,124,507.45 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 254,324.16 Class A-3 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 25,000,000.00 Multiplied by the Note Rate 5.9950% Multiplied by 30/360, or for the first Distribution Date, by 17/360 0.0833333 --------------- Class A Interest Distributable Amount 124,895.83 Class A-4 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 82,532,000.00 Multiplied by the Note Rate 6.0800% Multiplied by 30/360, or for the first Distribution Date, by 17/360 0.0833333 --------------- Class A Interest Distributable Amount 418,162.13 Excess Interest Amount Total Distribution Amount 8,343,306.36 minus Class A Principal and Interest Distributable Amount 6,683,097.32 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Trustee and Collateral Agent distributions 2,111.79 Standby Servicer distributions 3,713.13 Servicer distributions 337,347.30 Insurance and Reimbursement Obligations 212,716.26 --------------- 1,104,320.56 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 3,713.13 Servicing Fee (2.0%) 297,050.48 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 40,296.82 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 1,113.94 Indenture Trustee's out-of-pocket expenses 0.00 Unpaid Indenture Trustee Fee from prior Collection Periods 0.00 Unpaid Indenture Trustee's out-of-pocket exp. - prior Collection Periods 0.00 Owner Trustee Fee 0.00 Owner Trustee's out-of-pocket expenses 0.00 Unpaid Owner Trustee Fee from prior Collection Periods 0.00 Unpaid Owner Trustee's out-of-pocket exp - prior Collection Periods 0.00 (iv) Collateral Agent Fee 997.85 Collateral Agent Expenses 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 (v)(A) Class A-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 254,324.16 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 254,324.16 (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 5,885,715.20 Class A Principal Carryover Shortfall - Previous Month(s) 0.00 Current Month Class A Principal Shortfall 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 Class A Total Adjusted Distributable Amount 5,885,715.20 Class A Principal Distribution Amount to Class A-1 0.00 Class A Principal Distribution Amount to Class A-2 5,885,715.20 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 84,573.94 Note Insurer Premium Supplement 128,142.33 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 0.00 Amount to Class A-1 Noteholders 0.00 Amount to Class A-2 Noteholders 0.00 Amount to Class A-3 Noteholders 0.00 Amount to Class A-4 Noteholders 0.00 (xii) After an Event of Default, Certificateholders' Int. Dist. Amount 0.00 (xiii) After an Event of Default, Certificateholders' Prin. Dist. Amount 0.00 (xiv) After the Target Pmt. Date, remaining amount into Spread Acct. 1,104,320.56 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 52,124,507.45 Class A-2 Principal Distributions 5,885,715.20 Class A-2 End of Period Principal Amount (prior to turbo) 46,238,792.25 Additional Principal Distribution 0.00 Class A-2 End of Period Principal Amount 46,238,792.25 Class A-3 Beginning of Period Principal Amount 25,000,000.00 Class A-3 Principal Distributable Amount 0.00 Class A-3 End of Period Principal Amount (prior to turbo) 25,000,000.00 Additional Principal Distribution 0.00 Class A-3 End of Period Principal Amount 25,000,000.00 Class A-4 Beginning of Period Principal Amount 82,532,000.00 Class A-4 Principal Distributable Amount 0.00 Class A-4 End of Period Principal Amount (prior to turbo) 82,532,000.00 Additional Principal Distribution 0.00 Class A-4 End of Period Principal Amount 82,532,000.00 CLASS A-1 DEFICIENCY - INTEREST (i) Total Distribution Amount Available 8,343,306.36 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (i) and (v)A 343,172.22 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 8,000,134.14 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (v) B 8,000,134.14 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (v) B 254,324.16 (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) 7,745,809.98 CLASS A-3 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (vi) A 7,745,809.98 (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) 7,620,914.15 CLASS A-4 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.8(a) (vi) and (x) 7,620,914.15 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (vi) and (x) 418,162.13 (iii)Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 7,202,752.02 CLASS A DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.8(a) (vii) 7,202,752.02 (ii) Current distribution amounts payable pursuant to Section 5.8(a) (vii) 5,885,715.20 (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) 1,317,036.82 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.8(a) (viii) 1,317,036.82 (vi) Note Insurer Premium 84,573.94 (v) Note Insurer Premium Supplement 128,142.33 Deficiency Amount 0.00 Withdrawal from Spread Account to Cover Deficiency 0.00 If (i) is less than (ii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 1,104,320.56 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 9,604,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 9,604,000.00 Aggregate Gross Principal Balance as of the close of 185,863,291.32 business on the last day of the Collection Period. DELINQUENCY RATIO 5.17% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 5.17% Delinquency Ratio for second preceding Determination Date 4.68% Delinquency Ratio for third preceding Determination Date 4.38% ---------------- Average Delinquency Ratio 4.74% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 13,097,222.23 Current Period Defaulted Receivables 1,595,110.03 --------------- Total 14,692,332.26 Cumulative Defaulted Receivables 14,692,332.26 Original Pool Balance 240,339,160.19 Cumulative Default Ratio 6.11% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of 120+ Delinquent Losses: Principal Balance of Delinquent Accts > 120 days 790,000.00 Principal Balance of Delinquent Accts > 90 < 120 days 1,270,000.00 Estimated Loss % 50% --------------- Estimated Loss $'s 1,425,000.00 Calculation of Net Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 2,345,354.33 Cram Down Losses 0.00 Net Liquidation Proceeds (1,197,736.01) --------------- Net Losses 2,572,618.32 Cumulative Previous Net Losses 11,632,714.72 Less: Previous Month's Delinquency Loss Estimate (1,136,500.00) --------------- Cumulative Net Losses 13,068,833.04 Original Pool Balance 240,339,160.19 Cumulative Net Loss Ratio 5.44% ADDITIONAL POOL INFORMATION: Weighted Average Original Term 57.60 Weighted Average Remaining Term 44.87 Weighted Average Annual Percentage Rate 20.41% SPREAD ACCOUNT OC Percent Aggregate Principal Balance 171,661,412.36 minus the Securities Balance 153,770,792.25 --------------- 17,890,620.11 divided by the Aggregate Principal Balance 10.42% Floor OC Percent Aggregate Principal Balance 171,661,412.36 minus the Securities Balance 153,770,792.25 --------------- 17,890,620.11 divided by the initial Aggregate Principal Balance 240,339,160.19 --------------- 7.44% Floor Amount greater of (a) $100,000 100,000.00 (b) the lesser of (i) Securities Balance 153,770,792.25 (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 171,661,412.36 --------------- 171,661,412.36 Requisite Amount 171,661,412.36 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 171,661,412.36 Beginning of Period Spread Account Balance 20,162,048.99 Additional Deposit for Subsequent Receivables Transfer 0.00 Spread Account Deposit (Withdrawal) from Current Distributions 1,104,320.56 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 150,395,042.81 Earnings on Spread Account Balance 77,344.41 Amount of Spread Account deposit (withdrawal) 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 21,343,713.96 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 8/16/99 Collection Period 7/99 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 $197,903.41 (b) The amount of the distribution set forth in paragraph A.1. (a) above in respect of interest $958.12 (c) The amount of the distribution set forth in in paragraph A.1. (a) above in respect of principal $196,945.29 (d) The amount of total the distribution set forth in paragraph A.1. (a) above, per $1,000 $6.09 (e) The amount of the distribution set forth in paragraph A.1. (b) above, per $1,000 $0.03 (f) The amount of the distribution set forth in paragraph A.1. (c) above, per $1,000 principal $6.06 (g) The aggregate amount of the distribution to Class A-2 Noteholders on the Distribution Date set forth above $5,607,569.25 (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 $5,233,631.75 (j) The amount of the distribution set forth in paragraph A.1. (g) above, per $1,000 $72.36 (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 $3,229,342.48 (t) The amount of the distribution set forth in paragraph A.1. (s) above in respect of interest $394,201.04 (u) The amount of the distribution set forth in in paragraph A.1. (s) above in respect of principal $2,835,141.44 (v) The amount of the distribution set forth in paragraph A.1. (s) above, per $1,000 $32.29 (w) The amount of the distribution set forth in paragraph A.1. (t) above, per $1,000 $3.94 (x) The amount of the distribution set forth in paragraph A.1. (u) above, per $1,000 $28.35 (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 $260,832,489.03 (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 $252,566,770.55 (c) The Note Pool Factor as of the close of business on the last day set forth above 0.9683102 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 $487,565.74 (b) The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above. $5,434.01 (c) The amount of the payment set forth in paragraph B.2. (a) above per $1,000 $15.00 (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 $78,295,698.87 Spread Account Balance $24,077,343.82 (b) The change in the spread account on the Distribution Date set forth above $931,167.11 5 Policy. (a) The amount paid to the Noteholders under the Policy for such Distribution Date $0.00 (b) The amount distributable to the Note Insurer on such Distribution Date $523,157.90 6 Losses and Delinquencies. (a) The aggregate amount of Realized Losses on the Distribution Date set forth above $1,433,691.90 (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 565 Aggregate Gross Amount $7,059,000.00 (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 448 Aggregate Gross Amount $5,643,000.00 7 Performance Triggers. (a) Delinquency Ratio 4.69% (b) Average Delinquency Ratio 4.14% (c) Cumulative Default Ratio 4.01% (d) Cumulative Net Loss Ratio 2.59% (e) Is a Portfolio Performance Test violation continuing? No (f) Has an Insurance Agreement Event of Default occurred? Yes
CPS AUTO RECEIVABLES TRUST 1998-4 STATEMENT TO NOTEHOLDERS IS THERE A DEFICIENCY CLAIM AMOUNT? NO DEFICIENCY CLAIM AMOUNT 0.00 INPUTS GROSS COLLECTION PROCEEDS: 11,475,163.69 LOCK BOX NSF ITEMS: (125,916.90) TOTAL COLLECTION PROCEEDS: 11,349,246.79 FOR DISTRIBUTION DATE: 8/16/99 FOR DETERMINATION DATE: 8/9/99 FOR COLLECTION PERIOD: 7/99 COLLATERAL ACTIVITY INFORMATION PRINCIPAL Beginning Principal Balance 260,832,489.03 Beginning Principal Balance of Subsequent Receivables Transferred 0.00 --------------- Aggregate Beginning Principal Balance 260,832,489.03 Principal portion of payments collected (non-prepayments) 3,697,538.41 Prepayments in full allocable to principal 2,241,292.00 Collections allocable to principal 5,938,830.41 Partial prepayments relating to various contracts or policies 0.00 Liquidation Proceeds allocable to principal 893,196.17 Purchase Amounts allocable to principal 0.00 --------------- Total Principal 6,832,026.58 Realized Losses 1,433,691.90 Cram Down Losses 0.00 Ending Principal Balance 252,566,770.54 PREFUNDING Original Amount in Prefunding Account 34,352,728.96 Subsequent Loans Sold to the Trust 34,352,728.96 --------------- Balance of Prefunding Account 0.00 INTEREST Collections allocable to interest 4,343,995.18 Liquidation Proceeds allocable to interest 0.00 Purchase Amounts allocable to interest 0.00 Recoveries from Liquidated Receivables from prior periods 173,225.03 --------------- Total Interest 4,517,220.21 NOTE INFORMATION Beginning of Period Class A-1 Principal Balance 196,945.29 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 83,135,543.74 Beginning of Period Class A-5 Principal Balance 18,625,000.00 MISCELLANEOUS BALANCES Beginning of Period Spread Account Balance 23,146,176.71 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 52,844.92 Scheduled Payments due in Collection Period 7,902,979.74 Scheduled Payments collected in Collection Period 8,041,533.59 Aggregate Amount of Realized Losses for preceding Distribution Date 1,433,691.90 MISCELLANEOUS CURRENT EXPENSES Trustee's out-of-pocket expenses 0.00 Collateral Agent's expenses 0.00 Transition Expenses to Standby Servicer 0.00 Transition Expenses to successor Servicer 0.00 Other Reimbursement Obligations to Note Insurer (non-Premium) 0.00 MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS Unpaid Standby Fee from prior Collection Periods 0.00 Unpaid Servicing Fee from prior Collection Periods 0.00 Unpaid Trustee Fee from prior Collection Periods 0.00 Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 Unpaid Collateral Agent Fee from prior Collection Periods 0.00 Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 DELINQUENCY INFORMATION Aggregate Gross Amount # of Receivables of Receivables 31 - 59 days delinquent 565 7,059,000.00 60 - 89 days delinquent 252 3,191,000.00 90 - 119 days delinquent 123 1,527,000.00 120+ days delinquent 73 925,000.00 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. 12,702,000.00 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. 1,584,143.59 Delinquency Ratio for second preceding Determination Date 4.05% Delinquency Ratio for third preceding Determination Date 3.69% Cumulative Defaults for preceding Determination Date 10,844,801.08 Cumulative Net Losses for preceding Determination Date 6,383,785.85 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) 10,282,825.59 Liquidation Proceeds 893,196.17 Recoveries 173,225.03 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 0.05 Investment earnings from Interest Reserve Account 1.33 Investment earnings from Collection Account 34,930.98 --------------- TOTAL DISTRIBUTION AMOUNT 11,384,179.15 DISTRIBUTABLE AMOUNT Principal Distributable Amount Principal portion of payments collected (non-prepayments) 3,697,538.41 Prepayments in full allocable to principal 2,241,292.00 Principal Balance of Liquidated Receivables 2,326,888.07 Purchase Amounts allocable to principal 0.00 Cram Down Losses 0.00 --------------- Principal Distributable Amount 8,265,718.48 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 8,265,718.48 Sequential Pay Noteholders Percentage 65.7% --------------- Sequential Pay Noteholders' Principal Distributable Amount 5,430,577.04 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 8,265,718.48 Class A-4 Noteholders Percentage 34.3% --------------- Class A-4 Noteholders' Principal Distributable Amount 2,835,141.44 Class A-1 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 196,945.29 Multiplied by the Note Rate 5.4730% Multiplied by actual/360, or for the first Distribution Date, by 11/360 0.0888889 --------------- Class A Interest Distributable Amount 958.12 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 83,135,543.74 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 394,201.04 Class A-5 Noteholders' Interest Distributable Amount Beginning of Period Principal Balance of the Notes 18,625,000.00 Multiplied by the Note Rate 5.8900% Multiplied by actual/360, or for the first Distribution Date, by 11/360 0.0833333 --------------- Class A Interest Distributable Amount 91,417.71 Excess Interest Amount Total Distribution Amount 11,384,179.15 minus Class A Principal and Interest Distributable Amount 9,515,476.60 Class A Interest Carryover Shortfall 0.00 Class A Principal Carryover Shortfall 0.00 Trustee and Collateral Agent distributions 3,260.40 Standby Servicer distributions 5,434.01 Servicer distributions 487,565.74 Insurance and Reimbursement Obligations 523,157.90 --------------- 849,284.50 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 5,434.01 Backup Servicer Fee 6,500.00 Servicing Fee (2.0%) 434,720.82 Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 52,844.92 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) Indenture Trustee Fee 1,630.20 Indenture Trustee's out-of-pocket expenses 0.00 Unpaid Indenture Trustee Fee from prior Collection Periods 0.00 Unpaid Indenture Trustee's out-of-pocket exp. - prior Collection Periods 0.00 Owner Trustee Fee 0.00 Owner Trustee's out-of-pocket expenses 0.00 Unpaid Owner Trustee Fee from prior Collection Periods 0.00 Unpaid Owner Trustee's out-of-pocket exp - prior Collection Periods 0.00 (iv) Collateral Agent Fee 1,630.20 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-1 Interest Distributable Amount - Current Month 958.12 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 958.12 (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 394,201.04 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 394,201.04 (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 5,430,577.04 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 5,430,577.04 Class A Principal Distribution Amount to Class A-1 196,945.29 Class A Principal Distribution Amount to Class A-2 5,233,631.75 Class A Principal Distribution Amount to Class A-3 0.00 (vii) Class A-4 Principal Distributable Amount 2,835,141.44 Class A Principal Distribution Amount to Class A-5 0.00 (viii) Note Insurer Premium 105,236.15 Short-Term Reinsurance 33,074.51 Long-Term Reinsurance 174,374.93 Note Insurer Premium Supplement 210,472.31 Other Reimbursement Obligations to Note Insurer 0.00 (ix) Transition Expenses to successor Servicer 0.00 Spread Account Deposit (withdrawal) 842,784.50
SECURITIES BALANCE Class A-1 Beginning of Period Principal Amount 196,945.29 Class A-1 Principal Distributions 196,945.29 Class A-1 End of Period Principal Amount 0.00 Class A-2 Beginning of Period Principal Amount 77,500,000.00 Class A-2 Principal Distributions 5,233,631.75 Class A-2 End of Period Principal Amount 72,266,368.25 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 83,135,543.74 Class A-4 Principal Distributable Amount 2,835,141.44 Class A-4 End of Period Principal Amount 80,300,402.30 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 252,566,770.55 CLASS A-1 DEFICIENCY - INTEREST (i) Total Distribution Amount Available 11,384,179.15 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(i) thru (v)A 503,718.27 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 10,880,460.88 CLASS A-2 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)B 10,880,460.88 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)B 373,937.50 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 10,506,523.38 CLASS A-3 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)C 10,506,523.38 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)C 389,243.75 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 10,117,279.63 CLASS A-4 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)D 10,117,279.63 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)D 394,201.04 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 9,723,078.59 CLASS A-5 DEFICIENCY - INTEREST (i) Amounts available to make payments pursuant to Section 5.7(a)(v)E 9,723,078.59 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)E 91,417.71 (iii) Prior month(s) carryover shortfalls 0.00 (iv) Interest on Prior month(s) carryover shortfalls 0.00 (v) Interest on Interest of prior month(s) carryover shortfalls 0.00 If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO Amount Remaining for Further Distribution/(Deficiency) 9,631,660.88 SEQUENTIAL PAY NOTES DEFICIENCY - PRINCIPAL (A-1, A-2 & A-3) (i) Amounts available to make payments pursuant to Section 5.7(a)(vi) 9,631,660.88 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(vi) 5,430,577.04 (iii) Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 4,201,083.84 CLASS A-4 DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.7(a)(vii) 4,201,083.84 (ii) Current distribution amounts payable pursuant to Section 5.7(a)(vii) 2,835,141.44 (iii) Prior month(s) carryover shortfalls 0.00 Withdrawal from Spread Account to Cover Shortfall 0.00 If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO Amount Remaining for Further Distribution/(Deficiency) 1,365,942.40 CLASS A-5 DEFICIENCY - PRINCIPAL (i) Amounts available to make payments pursuant to Section 5.7(a)(vii) 1,365,942.40 (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) 1,365,942.40 OTHER DISTRIBUTIONS (i) Amounts available to make payments pursuant to Section 5.7(a)(viii) 1,365,942.40 (vi) Note Insurer Premium 312,685.59 (v) Note Insurer Premium Supplement 210,472.31 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) 842,784.50 CALCULATIONS PERFORMANCE MEASURES Calculation of Delinquency Ratio (Current Period) Delinquency Amount Receivables more than 30 days delinquent 12,702,000.00 Purchased receivables more than 30 days delinquent 0.00 --------------- Total 12,702,000.00 Aggregate Gross Principal Balance as of the close of business on the last day of the Collection Period. 270,702,374.85 DELINQUENCY RATIO 4.69% Calculation of Average Delinquency Ratio Delinquency Ratio for most recent Determination Date 4.69% Delinquency Ratio for second preceding Determination Date 4.05% Delinquency Ratio for third preceding Determination Date 3.69% --------------- Average Delinquency Ratio 4.14% CALCULATION OF CUMULATIVE DEFAULT RATIO Default Amount Principal Balance of Previously Defaulted Receivables 10,844,801.08 Current Period Defaulted Receivables 1,584,143.59 --------------- Total 12,428,944.67 Cumulative Defaulted Receivables 12,428,944.67 Original Pool Balance 275,647,271.04 Add: Subsequent Receivables 34,352,728.96 --------------- Total Original Balance 310,000,000.00 Cumulative Default Ratio 4.01% CALCULATION OF CUMULATIVE NET LOSS RATIO Calculation of 120+ Delinquent Losses: Principal Balance of Delinquent Accts > 120 days 925,000.00 Principal Balance of Delinquent Accts >90 <120 days 1,527,000.00 Estimated Loss % 50% ---------------- Estimated Loss $'s 1,688,500.00 Calculation of Net Losses Principal Balance plus accrued and unpaid interest of Liquidated Receivables 2,326,888.07 Cram Down Losses 0.00 Net Liquidation Proceeds (1,066,421.20) --------------- Net Losses 2,948,966.87 Cumulative Previous Net Losses 6,383,785.85 Less: Previous Month's Delinquency Loss Estimate (1,289,000.00) --------------- Cumulative Net Losses 8,043,752.72 Original Pool Balance 310,000,000.00 Cumulative Net Loss Ratio 2.59% 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 47.61 Weighted Average Annual Percentage Rate 20.22% SPREAD ACCOUNT Spread Account Cap Current Spread Account % 9.2% 21.0% of Outstanding Notes Balance if no Trigger Event 53,039,021.82 26.0% of Outstanding Notes Balance if a Trigger Event Exists 65,667,360.34 31.0% of Outstanding Notes Balance if an Insurance Event of Default 78,295,698.87 Is a Trigger Event continuing? (Y/N) N Has an Insurance Agreement Event of Default occurred? (Y/N) Y Requisite Amount 78,295,698.87 Spread Account Floor 2.5% of the Initial Certificate Balance 7,750,000.00 Outstanding Certificate Balance 252,566,770.55 Minimum Floor 100,000.00 --------------- Floor Amount 7,750,000.00 Required Spread Account Amount 78,295,698.87 Beginning of Period Spread Account Balance 23,146,176.71 Additional Deposit for Subsequent Receivables Transfer 0.00 Spread Account Deposit (Withdrawal) from Current Distributions 842,784.50 Transfer (to) from Cross-Collateralized Spread Accounts 0.00 Required addition to/(eligible withdrawal from) Spread Account 54,306,737.66 Earnings on Spread Account Balance 88,382.61 Amount of Spread Account deposit (withdrawal) 0.00 Net Spread Account Withdrawal to Seller 0.00 Ending Spread Account Balance 24,077,343.82