Monthly Certificateholder Statement
FASCO Auto Trust 1996-1
6.65% Class A Asset-Backed Certificates
10.00% Class B Asset-Backed Certificates
Distribution Date 4/15/97
Collection Period 3/97
Under the Pooling and Servicing Agreement dated as of June 28, 1996 (the
"Agreement") by and among Financial Asset Securities 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 $2,787,309.84
(b) The amount of the distribution set forth in
paragraph A.1. (a) above in respect of interest $390,232.61
(c) The amount of the distribution set forth in
in paragraph A.1. (a) above in respect of principal $2,397,077.23
(d) The amount of the distribution set forth in
paragraph A.1. (a) above, per $1,000 interest $33.00
(e) The amount of the distribution set forth in
paragraph A.1. (b) above, per $1,000 interest $4.62
(f) The amount of the distribution set forth in
paragraph A.1. (c) above, per $1,000 interest $28.38
(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) $157,047.01
(h) The amount of the distribution set forth in
paragraph A.1. (g) above in respect of interest $30,885.05
(i) The amount of the distribution set forth in
in paragraph A.1. (g) above in respect of principal $11,781.30
(j) Scheduled Payments due in such Collection Period $2,383,317.62
(k) Scheduled Payments collected in such
Collection Period $2,321,846.17
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 $74,124,119.67
(b) The Class A Certificates Balance 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 $68,020,836.46
(c) The Class B Certificates Balance 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 $3,580,044.02
(d) The Pool factor as of the close of business
on the last day set forth above 0.8054024
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 $144,158.67
(b) The aggregate amount of the Standby Fee
paid to the Standby Servicer with respect to the
Collection Period set forth above. $4,941.61
(c) The amount of the payment set forth in
paragraph B.2. (a) above per $1,000 interest $1.71
(d) The amount of the payment set forth in
paragraph B.2. (b) above per $1,000 interest $0.06
(e) The amount of any unpaid Servicing Fee $0.00
(f) The change in the amount of any unpaid
Servicing Fee from the prior Distribution Date $0.00
The number and aggregate Purchase Amount of Receivables that
became Purchased Receivables during the related Collection
Period
Number 2
Aggregate Purchase Amount $9,046.43
3 Payment Shortfalls.
(a) The amount of the Class A Interest Carryover shortfall
after giving effect to the payments set forth in
paragraph A.1. (b) above $0.00
(b) The amount of the Class A Principal Carryover Shortfall
after giving effect to the payment set forth in
paragraph A.1. (c) above $0.00
(c) The amount of the Class B Interest Carryover shortfall after
giving effect to the payments set forth in
paragraph A.1. (h) above $0.00
(d) The amount of the Class B Principal Carryover Shortfall
after giving effect to the payment set forth in
paragraph A.1. (i) above $0.00
4 Payahead Account.
(a) The aggregate Payahead Balance on the
prior Distribution Date $28,241.27
(b) Distributions (to) from Collection Account ($2,669.32)
for Payaheads
(c) Interest earned on Payahead Balances $153.09
(d) Ending Payahead Account Balance $25,725.04
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 $7,160,088.05
Spread Account Balance $7,160,088.05
(b) The change in the spread account on the Distribution
Date set forth above ($252,323.92)
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 $19,839.41
7 Losses and Delinquencies.
(a) The aggregate amount of Realized Losses on the
Distribution Date set forth above $728,600.19
(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 231
Aggregate Gross Amount $3,115,000.00
(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 213
Aggregate Gross Amount $2,850,000.00
8 Performance Triggers
(a) Delinquency Ratio 7.00%
(b) Average Delinquency Ratio 7.25%
(c) Cumulative Default Ratio 7.38%
(d) Cumulative Net Loss Ratio 2.38%
(e) Is a Portfolio Performance Test violation continuing? No
(f) Has an Insurance Agreement Event of Default occurred? No
FASCO Auto Trust 1996-1
Statement to Certificateholders
Is there a Deficiency Claim Amount? NO
Deficiency Claim Amount 0.00
Inputs
Gross Collection Proceeds: 3,165,752.34
Lock Box NSF Items: (53,958.76)
Transfers from (to) Payahead Account: 2,669.32
Collection Account Interest 12,314.95
Payahead Account Interest 153.09
Total Collection Proceeds: 3,126,930.94
For Distribution Date: 4/15/97
For Determination Date: 4/8/97
For Collection Period: 3/97
Collateral Activity Information
Principal
Beginning Principal Balance 74,124,119.67
Principal portion of payments collected (non-prepayments) 1,028,481.19
Prepayments in full allocable to principal 475,296.00
Collections allocable to principal 1,503,777.19
Partial prepayments relating to various contracts or policies 0.00
Liquidation Proceeds allocable to principal 281,815.38
Purchase Amounts allocable to principal 9,046.43
-------------------
Total Principal 1,794,639.00
Realized Losses 728,600.19
Cram Down Losses 0.00
Ending Principal Balance 71,600,880.48
Interest
Collections allocable to interest 1,293,364.98
Liquidation Proceeds allocable to interest 0.00
Purchase Amounts allocable to interest 0.00
Recoveries from Liquidated Receivables from prior periods 26,458.92
-------------------
Total Interest 1,319,823.90
Certificate Information
Beginning of Period Class A Principal Balance 70,417,913.69
Beginning of Period Class B Principal Balance 3,706,205.98
Miscellaneous Balances
Beginning of Period Spread Account Balance 7,412,411.97
Additional Servicing Fee Amounts (late fees,prepayment charges, etc.) 20,618.47
Aggregate Payahead Balance 25,571.95
Aggregate Payahead Balance for preceding Distribution Date 28,241.27
Interest Earned on Payahead Balances 153.09
Scheduled Payments due in Collection Period 2,383,317.62
Scheduled Payments collected in Collection Period 2,321,846.17
Aggregate Amount of Realized Losses for preceding Distribution Date 728,600.19
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 231 3,115,000.00
60+ days delinquent 213 2,850,000.00
Purchased Receivables Aggregate
Purchase Amt
# of Receivables of Receivables
2 9,046.43
Information for Portfolio Performance Tests
Principal Balance of all Receivables delinquent more than 30 days as 5,965,000.00
of the close of business on the last day of the
related Collection Period.
Principal Balance of all Receivables that became Purchased 9,046.43
Receivables as of 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 790,814.10
Receivables during the related Collection Period.
Delinquency Ratio for second preceding Determination Date 7.26%
Delinquency Ratio for third preceding Determination Date 7.48%
Cumulative Defaults for preceding Determination Date 5,774,331.00
Cumulative Net Losses for preceding Determination Date 1,412,216.00
Is a Portfolio Performance Test violation continuing? (Y/N) N
Has an Insurance Agreement Event of Default occurred? (Y/N) N
Calculations
Total Distribution Amount
All collections on receivables (incl. amts from payahead, excl.
amounts deposited into payahead) 2,797,142.17
Liquidation Proceeds 281,815.38
Recoveries 26,458.92
Purchase Amounts 9,046.43
Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00
Investment earnings from Collection Account 12,314.95
Investment earnings from Payahead Account 153.09
-------------------
Total Distribution Amount 3,126,930.94
Distributable Amount
Principal Distributable Amount
Principal portion of payments collected (non-prepayments) 1,028,481.19
Prepayments in full allocable to principal 475,296.00
Principal Balance of Liquidated Receivables 1,010,415.57
Purchase Amounts allocable to principal 9,046.43
Cram Down Losses 0.00
-------------------
Principal Distributable Amount 2,523,239.19
Class A Principal Distributable Amount
Principal Distributable Amount 2,523,239.19
Times Class A Percentage (95%) 95%
-------------------
2,397,077.23
Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00
-------------------
Class A Principal Distributable Amount 2,397,077.23
Class A Interest Distributable Amount
Beginning of Period Principal Balance of the Certificates 70,417,913.69
Multiplied by Certificate Pass-Through Rate 6.65%
Multiplied by 30/360, or for the first Distribution Date, by 17/360 0.0833333
-------------------
Class A Interest Distributable Amount 390,232.61
Class B Principal Distributable Amount
Principal Distributable Amount 2,523,239.19
Times Class B Percentage (5%) 5%
-------------------
Class B Principal Distributable Amount 126,161.96
Class B Interest Distributable Amount
Beginning of Period Principal Balance of the Certificates 3,706,205.98
Multiplied by Certificate Pass-Through Rate 10.00%
Multiplied by 30/360, or for the first Distribution Date, by 17/360 0.0833333
-------------------
Class B Coupon Interest Amount 30,885.05
Carryover Shortfalls from Prior Periods
Class B Principal Carryover Shortfall from previous period 0.00
Interest on Class B Principal Carryover Shortfall 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
Interest on Class A Principal Carryover Shortfall 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 Source act distributed Source
--- ------ --------------- ------
(i) Standby Fee 4,941.61 3,126,930.94 4,941.61 3,126,930.94
Servicing Fee (2.0%) 123,540.20 3,121,989.33 123,540.20 0.00
Additional Servicing Fee Amounts 20,618.47 2,998,449.13 20,618.47 0.00
(late fees,prepayment charges, etc.)
Unpaid Standby Fee from prior Collection 0.00 2,977,830.66 0.00
Periods
Unpaid Servicing Fee from prior Collection 0.00 2,977,830.66 0.00
Periods
(ii) Transition Expenses to Standby Servicer 0.00 2,977,830.66 0.00
(iii) Trustee Fee 926.55 2,977,830.66 926.55
Trustee's out-of-pocket expenses 0.00 2,976,904.11 0.00
Unpaid Trustee Fee from prior Collection Periods 0.00 2,976,904.11 0.00
Unpaid Trustee's out-of-pocket expenses 0.00 2,976,904.11 0.00
from prior Collection Periods
(iv) Collateral Agent Fee 926.55 2,976,904.11 926.55
Collateral Agent Expenses 0.00 2,975,977.56 0.00
Unpaid Collateral Agent Fee from prior 0.00 2,975,977.56 0.00
Collection Periods
Unpaid Collateral Agent Expenses from prior 0.00 2,975,977.56 0.00
Collection Periods
(v) Class A Interest Distributable Amount 390,232.61 2,975,977.56 390,232.61
Class A Interest Carryover Shortfall 0.00 2,585,744.95 0.00
(vi) Class B Coupon Interest 30,885.05 2,585,744.95 30,885.05
Class B Carryover Interest 0.00 2,554,859.90 0.00
(vii) Class A Principal Distributable Amount 2,397,077.23 2,554,859.90 2,397,077.23 729,853.71
Class A Principal Carryover Shortfall 0.00 157,782.67 0.00 729,853.71
(viii) Certificate Insurer Premium 19,839.41 157,782.67 19,839.41
Certificate Insurer Premium Supplement 0.00 137,943.26 0.00
Other Reimbursement Obligations to 0.00 137,943.26 0.00
Certificate Insurer
(ix) Transition Expenses to successor Servicer 0.00 137,943.26 0.00
(x) Class B Principal Distributable Amount - Unadjusted 126,161.96 137,943.26 126,161.96
Current Month Class B Principal Carryover Shortfall 0.00 11,781.30 0.00
Class B Principal Carryover Shortfall - Previous Month(s) 0.00 11,781.30 0.00
Adjusted Class B Principal Distributable Amount 126,161.96 11,781.30 11,781.30
(xi) Remaining amounts to Collateral Agent for deposit 11,781.30 0.00 0.00
in Spread Account 0.00
Certificate Balance
Class A Beginning of Period Principal Balance 70,417,913.69
Class A Principal Distributions 2,397,077.23
Class A End of Period Principal Balance 68,020,836.46
Class B Beginning of Period Principal Balance 3,706,205.98
Class B Principal Distributable Amount 126,161.96
Class B End of Period Principal Balance 3,580,044.02
Class A Deficiency - Interest
(i) Total Distribution Amount Available 3,126,930.94
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 541,185.99
(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) 2,585,744.95
Class B Deficiency - Interest
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 2,585,744.95
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 30,885.05
(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) 2,554,859.90
Class A Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 2,554,859.90
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 2,397,077.23
(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/(Deficiency) 157,782.67
Other Deficiencies - Insurance
(i) Amounts available to make payments for insurance 157,782.67
Certificate Insurer Premium 19,839.41
Certificate Insurer Premium Supplement 0.00
Deficiency Amount 0.00
Amount Remaining for Further Distribution/(Deficiency) 137,943.26
Class B Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 137,943.26
(ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 126,161.96
(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/(Deficiency) 11,781.30
Calculations
Performance Measures
Calculation of Delinquency Ratio (Current Period)
Delinquency Amount
Receivables more than 30 days delinquent 5,965,000.00
Purchased receivables more than 30 days delinquent 9,046.43
-------------------
Total 5,974,046.43
Aggregate Gross Principal Balance as of the close of
business on the last day of the
Collection Period. 85,370,179.54
Delinquency Ratio 7.00%
Calculation of Average Delinquency Ratio
Delinquency Ratio for most recent Determination Date 7.00%
Delinquency Ratio for second preceding Determination Date 7.26%
Delinquency Ratio for third preceding Determination Date 7.48%
-------------------
Average Delinquency Ratio 7.25% 7.25%
Calculation of Cumulative Default Ratio
Default Amount
Principal Balance of Previously Defaulted Receivables 5,774,331.00
Current Period Defaulted Receivables 790,814.10
-------------------
Total 6,565,145.10
Cumulative Defaulted Receivables 6,565,145.10
Original Pool Balance 88,900,750.37
Cumulative Default Ratio 7.38%
Calculation of Cumulative Net Loss Ratio
Calculation of Net Liquidation Losses
Principal Balance plus accrued and unpaid interest of
Liquidated Receivables 1,010,415.57
Cram Down Losses 0.00
Net Liquidation Proceeds (308,274.30)
-------------------
Net Liquidation Losses 702,141.27
Cumulative Previous Net Losses 1,412,216.00
-------------------
Cumulative Net Losses 2,114,357.27
Original Pool Balance 88,900,750.37
Cumulative Net Loss Ratio 2.38%
Additional Pool Information:
Weighted Average Original Term 54.67
Weighted Average Remaining Term 44.85
Weighted Average Annual Percentage Rate 20.24%
Spread Account
Spread Account Cap
10% of Outstanding Certificate Balance 7,160,088.05
15% of Outstanding Certificate Balance 10,740,132.07
Is a Portfolio Performance Test violation continuing? (Y/N) N
Has an Insurance Agreement Event of Default occurred? (Y/N) N
--------------
Cap Amount 7,160,088.05
Spread Account Floor
3.5% of the Initial Certificate Balance 3,111,526.26
Outstanding Certificate Balance 71,600,880.48
Minimum Floor 100,000.00
--------------
Floor Amount 3,111,526.26
Required Spread Account Amount 7,160,088.05
Beginning of Period Spread Account Balance 7,412,411.97
Spread Account Deposit (Withdrawal) from Current Distributions 11,781.30
Transfer (to) from Cross-Collateralized Spread Accounts 0.00
Required addition to/(eligible withdrawal from) Spread Account (264,105.22)
Earnings on Spread Account Balance 31,505.74
Amount of Spread Account deposit (withdrawal) (295,610.96)
Ending Spread Account Balance 7,160,088.05
IN WITNESS WHEREOF, I, Jeffrey P. Fritz, 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: Jeffrey P. Fritz
Title: Senior Vice President
Current month excess servicing fee #REF!
Monthly Certificateholder Statement
CPS Auto Grantor Trust 1996-2
6.70% Asset-Backed Certificates
11.30% Class B Asset-Backed Certificates
Distribution Date 4/15/97
Collection Period 3/97
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 $2,468,645.31
(b) The amount of the distribution set forth in
paragraph A.1. (a) above in respect of interest $445,502.76
(c) The amount of the distribution set forth in
in paragraph A.1. (a) above in respect of principal $2,023,142.55
(d) The amount of the distribution set forth in
paragraph A.1. (a) above, per $1,000 interest $28.21
(e) The amount of the distribution set forth in
paragraph A.1. (b) above, per $1,000 interest $5.09
(f) The amount of the distribution set forth in
paragraph A.1. (c) above, per $1,000 interest $23.12
(g) The aggregate amount of the distribution to Class B
Certificateholders on the Distribution Date set forth above $146,027.00
(h) The amount of the distribution set forth in
paragraph A.1. (g) above in respect of interest $39,545.81
(i) The amount of the distribution set forth in
in paragraph A.1. (g) above in respect of principal $106,481.19
(j) Scheduled Payments due in such Collection Period $2,550,721.49
(k) Scheduled Payments collected in such
Collection Period $2,617,860.41
B. Information Regarding the Performance of the Trust.
1 Pool Balance and Certificate Balances
(a) The aggregate Principal Balance of the
Receivables as of the close of business
on the last day of the preceding Collection Period $83,991,093.14
(b) The Certificates Balance 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 $77,768,395.92
(c) The Pool factor as of the close of business
on the last day set forth above 0.8885498
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 $152,955.61
The aggregate amount of the Standby Fee
(b) paid to the Standby Servicer with respect to the
Collection Period set forth above. $5,599.41
(c) The amount of the payment set forth in
paragraph B.2. (a) above per $1,000 interest $1.75
(d) The amount of the payment set forth in
paragraph B.2. (b) above per $1,000 interest $0.06
(e) The amount of any unpaid Servicing Fee $0.00
(f) The change in the amount of any unpaid
Servicing Fee from the prior Distribution Date $0.00
The number and aggregate Purchase Amount of Receivables that
became Purchased Receivables during the related Collection
Period
Number 0
Aggregate Purchase Amount $0.00
3 Payment Shortfalls.
(a) The amount of the 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 $32,570.26
(b) Distributions (to) from Collection Account $1,682.45
for Payaheads
(c) Interest earned on Payahead Balances $198.14
(d) Ending Payahead Account Balance $34,450.85
5 Spread Account.
(a) The Specified Spread Account Balance with respect to such
Distribution Date and the Spread Account Balance on the
Distribution Date set forth above, after giving effect to
distributions made on such Distribution Date
Specified Spread Account Balance $8,186,146.94
Spread Account Balance $7,801,088.40
(b) The change in the spread account on the Distribution
Date set forth above $449,868.96
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 $22,682.45
7 Losses and Delinquencies.
(a) The aggregate amount of Realized Losses on the
Distribution Date set forth above $456,700.20
(b) The change in the aggregate amount of
Realized Losses from the prior Distribution Date $0.00
(c) The number of Receivables and the aggregate gross amount
scheduled to be paid, including unearned finance and other
charges, for which Obligors are delinquent between 31 and 59
days
Number 234
Aggregate Gross Amount $3,329,000.00
(d) The number of Receivables and the aggregate gross amount
scheduled to be paid, including unearned finance and other
charges, for which Obligors are delinquent 60 days or more
Number 212
Aggregate Gross Amount $2,989,000.00
8 Performance Triggers
(a) Delinquency Ratio 6.35%
(b) Average Delinquency Ratio 6.36%
(c) Cumulative Default Ratio 3.42%
(d) Cumulative Net Loss Ratio 0.67%
(e) Is a Portfolio Performance Test violation continuing? No
(f) Has an Insurance Agreement Event of Default occurred? No
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: 3,284,504.57
Lock Box NSF Items: (76,316.21)
Transfers from (to) Payahead Account: (1,682.45)
Collection Account Interest 11,889.97
Payahead Account Interest 198.14
Total Collection Proceeds: 3,218,594.02
For Distribution Date: 4/15/97
For Determination Date: 4/8/97
For Collection Period: 3/97
Collateral Activity Information
Principal
Beginning Principal Balance 83,991,093.14
Principal portion of payments collected (non-prepayments) 1,090,866.36
Prepayments in full allocable to principal 452,367.00
Collections allocable to principal 1,543,233.36
Partial prepayments relating to various contracts or policies 0.00
Liquidation Proceeds allocable to principal 129,690.18
Purchase Amounts allocable to principal 0.00
Total Principal 1,672,923.54
Realized Losses 456,700.20
Cram Down Losses 0.00
Ending Principal Balance 81,861,469.40
Interest
Collections allocable to interest 1,526,994.05
Liquidation Proceeds allocable to interest 0.00
Purchase Amounts allocable to interest 0.00
Recoveries from Liquidated Receivables from prior periods 6,588.32
-------------------
Total Interest 1,533,582.37
Certificate Information
Beginning of Period Class A Principal Balance 79,791,538.47
Beginning of Period Class B Principal Balance 4,199,554.67
Miscellaneous Balances
Beginning of Period Spread Account Balance 7,351,219.44
Additional Servicing Fee Amounts (late fees,prepayment charges, etc.) 12,970.45
Aggregate Payahead Balance 34,252.71
Aggregate Payahead Balance for preceding Distribution Date 32,570.26
Interest Earned on Payahead Balances 198.14
Scheduled Payments due in Collection Period 2,550,721.49
Scheduled Payments collected in Collection Period 2,617,860.41
Aggregate Amount of Realized Losses for preceding Distribution Date 456,700.20
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 234 3,329,000.00
60+ days delinquent 212 2,989,000.00
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 6,318,000.00
of the close 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 835,805.67
Receivables during the related Collection Period.
Delinquency Ratio for second preceding Determination Date 6.47%
Delinquency Ratio for third preceding Determination Date 6.27%
Cumulative Defaults for preceding Determination Date 2,319,463.00
Cumulative Net Losses for preceding Determination Date 165,033.00
Is a Portfolio Performance Test violation continuing? (Y/N) N
Has an Insurance Agreement Event of Default occurred? (Y/N) N
Calculations
Total Distribution Amount
All collections on receivables (incl. amts from payahead, excl.
amounts deposited into payahead) 3,070,227.41
Liquidation Proceeds 129,690.18
Recoveries 6,588.32
Purchase Amounts 0.00
Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00
Investment earnings from Collection Account 11,889.97
Investment earnings from Payahead Account 198.14
-------------------
Total Distribution Amount 3,218,594.02
Distributable Amount
Principal Distributable Amount
Principal portion of payments collected (non-prepayments) 1,090,866.36
Prepayments in full allocable to principal 452,367.00
Principal Balance of Liquidated Receivables 586,390.38
Purchase Amounts allocable to principal 0.00
Cram Down Losses 0.00
-------------------
Principal Distributable Amount 2,129,623.74
Class A Principal Distributable Amount
Principal Distributable Amount 2,129,623.74
Times Class A Percentage (95%) 95%
-------------------
2,023,142.55
Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00
-------------------
Class A Principal Distributable Amount 2,023,142.55
Class A Interest Distributable Amount
Beginning of Period Principal Balance of the Certificates 79,791,538.47
Multiplied by Certificate Pass-Through Rate 6.70%
Multiplied by 30/360, or for the first Distribution Date, by 19/360 0.0833333
-------------------
Class A Interest Distributable Amount 445,502.76
Class B Principal Distributable Amount
Principal Distributable Amount 2,129,623.74
Times Class B Percentage (5%) 5%
-------------------
Class B Principal Distributable Amount 106,481.19
Class B Coupon Interest Amount
Beginning of Period Principal Balance of the Certificates 4,199,554.67
Multiplied by Certificate Pass-Through Rate 11.30%
Multiplied by 30/360, or for the first Distribution Date 0.0833333
-------------------
Class B Coupon Interest Amount 39,545.81
Class B Excess Interest Amount
Total Distribution Amount 3,218,594.02
minus
Class A Principal and Interest Distributable Amount 2,468,645.31
Class A Interest Carrover Shortfall 0.00
Class A Principal Carryover Shortfall 0.00
Class B Coupon Interest 39,545.81
Class B Interest Carryover Shortfall 0.00
Class B Principal Distributable Amount 106,481.19
Class B Principal Carryover Shortfall 0.00
Trustee distributions 1,049.89
Standby Servicer distributions 5,599.41
Servicer distributions 152,955.61
Collateral Agent distributions 1,049.89
Reimbursement Obligations 22,682.45
-------------------
420,584.46
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
Interest Carryover on Class A Principal Shortfall 0.00
Interest Earned 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 Source act distributed Source
--- ------ --------------- ------
(i) Standby Fee 5,599.41 0.00 0.00 106,481.19
Servicing Fee (2.0%) 139,985.16 0.00 0.00 0.00
Additional Servicing Fee Amounts 12,970.45 0.00 0.00 0.00
(late fees,prepayment charges, etc.)
Unpaid Standby Fee from prior Collection Periods 0.00 0.00 0.00
Unpaid Servicing Fee from prior Collection Periods 0.00 0.00 0.00
(ii) Transition Expenses to Standby Servicer 0.00 0.00 0.00
(iii) Trustee Fee 1,049.89 0.00 0.00
Trustee's out-of-pocket expenses 0.00 0.00 0.00
Unpaid Trustee Fee from prior Collection Periods 0.00 0.00 0.00
Unpaid Trustee's out-of-pocket expenses from prior 0.00 0.00 0.00
Collection Periods
(iv) Collateral Agent Fee 1,049.89 0.00 0.00
Collateral Agent Expenses 0.00 0.00 0.00
Unpaid Collateral Agent Fee from prior 0.00 0.00 0.00
Collection Periods
Unpaid Collateral Agent Expenses from prior 0.00 0.00 0.00
Collection Periods
(v)(A) Class A Interest Distributable Amount - Current Month 445,502.76 0.00 0.00
Prior Month(s) Class A Carryover Shortfall 0.00 0.00 0.00
Class A Interest Carryover Shortfall 0.00 0.00 0.00
Interest on Interest Carryover from Prior Months 0.00 0.00 0.00 106,481.19
Current Month Class A Interest Carryover Shortfall 0.00 0.00 0.00 106,481.19
Class A Interest Distributable Amount 445,502.76 0.00 0.00
(viii)(A)Class B Coupon Interest - Unadjusted 39,545.81 0.00 0.00
Class B Interest Carryover Shortfall - 0.00 0.00 0.00
Previous Month(s)
Interest on B Interest Shortfall - 0.00 0.00 0.00
Previous Month(s)
Interest on Interest Carryover from Prior Months 0.00 0.00 0.00
Current Month Class B Interest Shortfall 0.00 0.00 0.00
Adjusted Class B Interest Distributable Amount 39,545.81 0.00 0.00
(v)(B) Class A Principal Distributable Amount - 2,023,142.55 0.00 0.00
Current Month
Class A Principal Carryover Shortfall - 0.00 0.00 0.00
Previous Month(s)
Interest on Interest Carryover from Prior Months 0.00 0.00 0.00
Current Month Class A Principal Shortfall 0.00 0.00 0.00
Class A Principal Distribution Amount 2,023,142.55 0.00 0.00
(vi) Certificate Insurer Premium 22,682.45 0.00 0.00
Certificate Insurer Premium Supplement 0.00 0.00 0.00
Other Reimbursement Obligations to Certificate 0.00 0.00 0.00
Insurer
(vii) Transition Expenses to successor Servicer 0.00 0.00 0.00
Class B Principal Distributable Amount - 106,481.19 0.00 0.00
Current Month Unadjusted
Class B Principal Carryover Shortfall - 0.00 0.00 0.00
Previous Month(s)
Current Month Class B Principal Shortfall 0.00 0.00 0.00
Adjusted Class B Principal Distributable Amount 106,481.19 0.00 0.00
Excess Interest Amount for Deposit in Spread Account 420,584.46 0.00 0.00
0.00 0.00
Certificate Balance
Class A Beginning of Period Principal Balance 79,791,538.47
Class A Principal Distributions 2,023,142.55
Class A End of Period Principal Balance 77,768,395.92
Class B Beginning of Period Principal Balance 4,199,554.67
Class B Principal Distributable Amount 106,481.19
Class B End of Period Principal Balance 4,093,073.48
Class A Deficiency - Interest
(i) Total Distribution Amount Available 3,218,594.02
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 606,157.56
(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) 2,612,436.46
Class B Deficiency - Interest
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 2,612,436.46
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 39,545.81
(iii) Prior month(s) carryover shortfalls 0.00
(iv) Interest on Prior month(s) carryover shortfalls 0.00
(v) Interest on Interest of prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) - (v) , there is a Class B Deficiency NO
Amount Remaining for Further Distribution/(Deficiency) 2,572,890.65
Class A Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 2,572,890.65
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 2,023,142.55
(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/(Deficiency) 549,748.10
Other Deficiencies - Insurance
(i) Amounts available to make payments for insurance 549,748.10
Certificate Insurer Premium 22,682.45
Certificate Insurer Premium Supplement 0.00
Deficiency Amount 0.00
Amount Remaining for Further Distribution/(Deficiency) 527,065.65
Class B Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and
(x) 527,065.65 (ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x)
106,481.19 (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/(Deficiency) 420,584.46
Calculations
Performance Measures
Calculation of Delinquency Ratio (Current Period)
Delinquency Amount
Receivables more than 30 days delinquent 6,318,000.00
Purchased receivables more than 30 days delinquent 0.00
-------------------
Total 6,318,000.00
Aggregate Gross Principal Balance as of the close of
business on the last day of the
Collection Period. 99,565,520.41
Delinquency Ratio 6.35%
Calculation of Average Delinquency Ratio
Delinquency Ratio for most recent Determination Date 6.35%
Delinquency Ratio for second preceding Determination Date 6.47%
Delinquency Ratio for third preceding Determination Date 6.27%
-------------------
Average Delinquency Ratio 6.36% 6.36%
Calculation of Cumulative Default Ratio
Default Amount
Principal Balance of Previously Defaulted Receivables 2,319,463.00
Current Period Defaulted Receivables 835,805.67
-------------------
Total 3,155,268.67
Cumulative Defaulted Receivables 3,155,268.67
Original Pool Balance 92,129,299.54
Cumulative Default Ratio 3.42%
Calculation of Cumulative Net Loss Ratio
Calculation of Net Liquidation Losses
Principal Balance plus accrued and unpaid interest of
Liquidated Receivables 586,390.38
Cram Down Losses 0.00
Net Liquidation Proceeds (136,278.50)
-------------------
Net Liquidation Losses 450,111.88
Cumulative Previous Net Losses 165,033.00
-------------------
Cumulative Net Losses 615,144.88
Original Pool Balance 92,129,299.54
Cumulative Net Loss Ratio 0.67%
Additional Pool Information:
Weighted Average Original Term 55.54
Weighted Average Remaining Term 48.74
Weighted Average Annual Percentage Rate 20.50%
Spread Account
Spread Account Cap
10% of Outstanding Certificate Balance 8,186,146.94
15% of Outstanding Certificate Balance 12,279,220.41
Is a Portfolio Performance Test violation continuing? (Y/N) N
Has an Insurance Agreement Event of Default occurred? (Y/N) N
--------------
Cap Amount 8,186,146.94
Spread Account Floor
3% of the Initial Certificate Balance 2,763,878.99
Outstanding Certificate Balance 81,861,469.40
Minimum Floor 100,000.00
--------------
Floor Amount 2,763,878.99
Required Spread Account Amount 8,186,146.94
Beginning of Period Spread Account Balance 7,351,219.44
Spread Account Deposit (Withdrawal) from Current Distributions 420,584.46
Transfer (to) from Cross-Collateralized Spread Accounts 0.00
Required addition to/(eligible withdrawal from) Spread Account 414,343.04
Earnings on Spread Account Balance 29,284.50
Amount of Spread Account deposit (withdrawal) 0.00
Ending Spread Account Balance 7,801,088.40
IN WITNESS WHEREOF, I, Jeffrey P. Fritz, 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: Jeffrey P. Fritz
Title: Senior Vice President
Current month excess servicing fee #REF!
Monthly Certificateholder Statement
CPS Auto Grantor Trust 1996-3
6.30% Asset-Backed Certificates
10.15% Class B Asset-Backed Certificates
Distribution Date 4/15/97
Collection Period 3/97
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 $1,983,679.81
(b) The amount of the distribution set forth in
paragraph A.1. (a) above in respect of interest $448,358.60
(c) The amount of the distribution set forth in
in paragraph A.1. (a) above in respect of principal $1,535,321.21
(d) The amount of the distribution set forth in
paragraph A.1. (a) above, per $1,000 interest $22.49
(e) The amount of the distribution set forth in
paragraph A.1. (b) above, per $1,000 interest $5.08
(f) The amount of the distribution set forth in
paragraph A.1. (c) above, per $1,000 interest $17.40
(g) The aggregate amount of the distribution to Class B
Certificateholders on the Distribution Date set forth above $118,825.09
(h) The amount of the distribution set forth in
paragraph A.1. (g) above in respect of interest $38,018.71
(i) The amount of the distribution set forth in
in paragraph A.1. (g) above in respect of principal $80,806.38
(j) Scheduled Payments due in such Collection Period $2,630,719.27
(k) Scheduled Payments collected in such
Collection Period $2,596,964.93
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 $89,896,460.51
(b) The Certificates Balance 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 $83,866,316.26
(c) The Pool factor as of the close of business
on the last day set forth above 0.9507044
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 $164,813.71
The aggregate amount of the Standby Fee
(b) paid to the Standby Servicer with respect to the
Collection Period set forth above. $8,989.65
(c) The amount of the payment set forth in
paragraph B.2. (a) above per $1,000 interest $1.87
(d) The amount of the payment set forth in
paragraph B.2. (b) above per $1,000 interest $0.10
(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 7
Aggregate Purchase Amount $124,921.37
3 Payment Shortfalls.
(a) The amount of the Interest Carryover shortfall
after giving effect to the payments set forth in
paragraph A.1. (b) above $0.00
(b) The amount of the Principal Carryover Shortfall after giving
effect to the payment set forth in
paragraph A.1. (c) above $0.00
4 Payahead Account.
(a) The aggregate Payahead Balance on the
prior Distribution Date $31,172.28
(b) Distributions (to) from Collection Account $6,623.51
for Payaheads
(c) Interest earned on Payahead Balances $202.54
(d) Ending Payahead Account Balance $37,998.33
5 Spread Account.
(a) The Specified Spread Account Balance with respect to such
Distribution Date and the Spread Account Balance on the
Distribution Date set forth above, after giving effect to
distributions made on such Distribution Date
Specified Spread Account Balance $8,828,033.29
Spread Account Balance $6,116,086.24
(b) The change in the spread account on the Distribution
Date set forth above $797,552.53
6 Policy
(a) The amount paid to the Certificateholders
under the Policy for such Distribution Date $0.00
(b) The amount distributable to the Certificate
Insurer on such Distribution Date $24,461.01
7 Losses and Delinquencies.
(a) The aggregate amount of Realized Losses on the
Distribution Date set forth above $0.00
(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 210
Aggregate Gross Amount $2,988,000.00
(d) The number of Receivables and the aggregate gross amount
scheduled to be paid, including unearned finance and other
charges, for which Obligors are delinquent 60 days or more
Number 144
Aggregate Gross Amount $2,037,000.00
8 Performance Triggers
(a) Delinquency Ratio 4.76%
(b) Average Delinquency Ratio 3.91%
(c) Cumulative Default Ratio 0.96%
(d) Cumulative Net Loss Ratio 0.00%
(e) Is a Portfolio Performance Test violation continuing? No
(f) Has an Insurance Agreement Event of Default occurred? No
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: 3,158,484.14
Lock Box NSF Items: (82,951.33)
Transfers from (to) Payahead Account: (6,623.51)
Collection Account Interest 11,098.61
Payahead Account Interest 202.54
Total Collection Proceeds: 3,080,210.45
For Distribution Date: 4/15/97
For Determination Date: 4/8/97
For Collection Period: 3/97
Collateral Activity Information
Principal
Beginning Principal Balance 89,896,460.51
Principal portion of payments collected (non-prepayments) 1,144,183.22
Prepayments in full allocable to principal 347,023.00
Collections allocable to principal 1,491,206.22
Partial prepayments relating to various contracts or policies 0.00
Liquidation Proceeds allocable to principal 0.00
Purchase Amounts allocable to principal 124,921.37
Total Principal 1,616,127.59
Realized Losses 0.00
Cram Down Losses 0.00
Ending Principal Balance 88,280,332.92
Interest
Collections allocable to interest 1,452,781.71
Liquidation Proceeds allocable to interest 0.00
Purchase Amounts allocable to interest 0.00
Recoveries from Liquidated Receivables from prior periods 0.00
-------------------
Total Interest 1,452,781.71
Certificate Information
Beginning of Period Class A Principal Balance 85,401,637.47
Beginning of Period Class B Principal Balance 4,494,823.04
Miscellaneous Balances
Beginning of Period Spread Account Balance 5,318,533.71
Additional Servicing Fee Amounts (late fees,prepayment charges, etc.) 14,986.28
Aggregate Payahead Balance 37,795.79
Aggregate Payahead Balance for preceding Distribution Date 31,172.28
Interest Earned on Payahead Balances 202.54
Scheduled Payments due in Collection Period 2,630,719.27
Scheduled Payments collected in Collection Period 2,596,964.93
Aggregate Amount of Realized Losses for preceding Distribution Date 0.00
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 210 2,988,000.00
60+ days delinquent 144 2,037,000.00
Purchased Receivables Aggregate
Purchase Amt
# of Receivables of Receivables
7 124,921.37
Information for Portfolio Performance Tests
Principal Balance of all Receivables delinquent more than 30 days as 5,025,000.00
of the close of business on the last day of the
related Collection Period.
Principal Balance of all Receivables that became Purchased 124,921.37
Receivables as of 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 595,056.58
Receivables during the related Collection Period.
Delinquency Ratio for second preceding Determination Date 3.96%
Delinquency Ratio for third preceding Determination Date 3.01%
Cumulative Defaults for preceding Determination Date 293,190.00
Cumulative Net Losses for preceding Determination Date 663.00
Is a Portfolio Performance Test violation continuing? (Y/N) N
Has an Insurance Agreement Event of Default occurred? (Y/N) N
Calculations
Total Distribution Amount
All collections on receivables (incl. amts from payahead, excl.
amounts deposited into payahead) 2,943,987.93
Liquidation Proceeds 0.00
Recoveries 0.00
Purchase Amounts 124,921.37
Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00
Investment earnings from Collection Account 11,098.61
Investment earnings from Payahead Account 202.54
-------------------
Total Distribution Amount 3,080,210.45
Distributable Amount
Principal Distributable Amount
Principal portion of payments collected (non-prepayments) 1,144,183.22
Prepayments in full allocable to principal 347,023.00
Principal Balance of Liquidated Receivables 0.00
Purchase Amounts allocable to principal 124,921.37
Cram Down Losses 0.00
-------------------
Principal Distributable Amount 1,616,127.59
Class A Principal Distributable Amount
Principal Distributable Amount 1,616,127.59
Times Class A Percentage (95%) 95%
-------------------
1,535,321.21
Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00
-------------------
Class A Principal Distributable Amount 1,535,321.21
Class A Interest Distributable Amount
Beginning of Period Principal Balance of the Certificates 85,401,637.47
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 448,358.60
Class B Principal Distributable Amount
Principal Distributable Amount 1,616,127.59
Times Class B Percentage (5%) 5%
-------------------
Class B Principal Distributable Amount 80,806.38
Class B Coupon Interest Amount
Beginning of Period Principal Balance of the Certificates 4,494,823.04
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 38,018.71
Class B Excess Interest Amount
Total Distribution Amount 3,080,210.45
minus
Class A Principal and Interest Distributable Amount 1,983,679.81
Class A Interest Carrover Shortfall 0.00
Class A Principal Carryover Shortfall 0.00
Class B Coupon Interest 38,018.71
Class B Interest Carryover Shortfall 0.00
Class B Principal Distributable Amount 80,806.38
Class B Principal Carryover Shortfall 0.00
Trustee distributions 1,123.71
Standby Servicer distributions 8,989.65
Servicer distributions 164,813.71
Collateral Agent distributions 1,123.71
Reimbursement Obligations 24,461.01
-------------------
777,193.76
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 Source act distributed Source
--- ------ --------------- ------
(i) Standby Fee 8,989.65 3,080,210.45 8,989.65 3,080,210.45
Servicing Fee (2.0%) 149,827.43 3,071,220.80 149,827.43 0.00
Additional Servicing Fee Amounts 14,986.28 2,921,393.37 14,986.28 0.00
(late fees,prepayment charges, etc.
Unpaid Standby Fee from prior Collection Periods 0.00 2,906,407.09 0.00
Unpaid Servicing Fee from prior Collection Periods 0.00 2,906,407.09 0.00
(ii) Transition Expenses to Standby Servicer 0.00 2,906,407.09 0.00
(iii) Trustee Fee 1,123.71 2,906,407.09 1,123.71
Trustee's out-of-pocket expenses 0.00 2,905,283.38 0.00
Unpaid Trustee Fee from prior Collection Periods 0.00 2,905,283.38 0.00
Unpaid Trustee's out-of-pocket expenses from prior 0.00 2,905,283.38 0.00
Collection Periods
(iv) Collateral Agent Fee 1,123.71 2,905,283.38 1,123.71
Collateral Agent Expenses 0.00 2,904,159.67 0.00
Unpaid Collateral Agent Fee from prior 0.00 2,904,159.67 0.00
Collection Periods
Unpaid Collateral Agent Expenses from prior 0.00 2,904,159.67 0.00
Collection Periods
(v)(A) Class A Interest Distributable Amount - 448,358.60 2,904,159.67 448,358.60
Current Month
Prior Month(s) Class A Carryover Shortfall 0.00 2,455,801.07 0.00
Class A Interest Carryover Shortfall 0.00 2,455,801.07 0.00
Interest on Interest Carryover from Prior Months 0.00 2,455,801.07 0.00
Current Month Class A Interest Carryover Shortfall 0.00 2,455,801.07 0.00
Class A Interest Distributable Amount 448,358.60 2,455,801.07 448,358.60
(viii)(A)Class B Coupon Interest - Unadjusted 38,018.71 2,007,442.47 38,018.71
Class B Interest Carryover Shortfall - 0.00 1,969,423.76 0.00
Previous Month(s)
Interest on B Interest Shortfall - 0.00 1,969,423.76 0.00
Previous Month(s)
Interest on Interest Carryover from Prior Months 0.00 1,969,423.76 0.00
Current Month Class B Interest Shortfall 0.00 1,969,423.76 0.00
Adjusted Class B Interest Distributable Amount 38,018.71 1,969,423.76 38,018.71
(v)(B) Class A Principal Distributable Amount - 1,535,321.21 1,931,405.05 1,535,321.21 1,544,889.24
Current Month
Class A Principal Carryover Shortfall - 0.00 396,083.84 0.00
Previous Month(s)
Current Month Class A Principal Shortfall 0.00 396,083.84 0.00
Withdrawl from Spread Account to Cover Shortfall 0.00
Class A Principal Distribution Amount 1,535,321.21 396,083.84 396,083.84 9,568.03
(vi) Certificate Insurer Premium 24,461.01 0.00 0.00
Certificate Insurer Premium Supplement 0.00 0.00 0.00
Other Reimbursement Obligations to Certificate 0.00 0.00 0.00
Insurer
(vii) Transition Expenses to successor Servicer 0.00 0.00 0.00
Class B Principal Distributable Amount - 80,806.38 0.00 0.00
Current Month Unadjusted
Class B Principal Carryover Shortfall - 0.00 0.00 0.00
Previous Month(s)
Current Month Class B Principal Shortfall 0.00 0.00 0.00
Adjusted Class B Principal Distributable Amount 80,806.38 0.00 0.00
Excess Interest Amount for Deposit in Spread 777,193.76 0.00 0.00
Account 0.00 0.00
Certificate Balance
Class A Beginning of Period Principal Balance 85,401,637.47
Class A Principal Distributions 1,535,321.21
Class A End of Period Principal Balance 83,866,316.26
Class B Beginning of Period Principal Balance 4,494,823.04
Class B Principal Distributable Amount 80,806.38
Class B End of Period Principal Balance BEFORE Spread Account Distributions 4,414,016.66
Withdrawl from Spread Account to Cover B Shortfalls 0.00
Class B End of Period Principal Balance AFTER Spread Account Distributions 4,414,016.66
Class A Deficiency - Interest
(i) Total Distribution Amount Available 3,080,210.45
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 624,409.38
(iii) Prior month(s) carryover shortfalls 0.00
(iv) Interest on Prior month(s) carryover shortfalls 0.00
(v) Interest on Interest of prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO
Amount Remaining for Further Distribution/(Deficiency) 2,455,801.07
Class B Deficiency - Interest
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 2,455,801.07
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 38,018.71
(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) 2,417,782.36
Class A Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 2,417,782.36
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 1,535,321.21
(iii) Prior month(s) carryover shortfalls 0.00
Withdrawl 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) 882,461.15
Other Distributions
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 882,461.15
(vi) Certificate Insurer Premium 24,461.01
(v) Certificate Insurer Premium Supplement 0.00
Deficiency Amount 0.00 Withdrawl 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)
858,000.14
Class B Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 858,000.14
(ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 80,806.38
(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) 777,193.76
Withdrawl from Spread Account to B PieceCover Shortfalls 0.00
Adjusted Amount Remaining for Further Distribution/(Deficiency) 777,193.76
Calculations
Performance Measures
Calculation of Delinquency Ratio (Current Period)
Delinquency Amount
Receivables more than 30 days delinquent 5,025,000.00
Purchased receivables more than 30 days delinquent 124,921.37
-------------------
Total 5,149,921.37
Aggregate Gross Principal Balance as of the close of
business on the last day of the
Collection Period. 108,086,074.51
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 3.96%
Delinquency Ratio for third preceding Determination Date 3.01%
-------------------
Average Delinquency Ratio 3.91% 3.91%
Calculation of Cumulative Default Ratio
Default Amount
Principal Balance of Previously Defaulted Receivables 293,190.00
Current Period Defaulted Receivables 595,056.58
-------------------
Total 888,246.58
Cumulative Defaulted Receivables 888,246.58
Original Pool Balance 92,857,811.12
Cumulative Default Ratio 0.96%
Calculation of Cumulative Net Loss Ratio
Calculation of Net Liquidation Losses
Principal Balance plus accrued and unpaid interest of
Liquidated Receivables 0.00
Cram Down Losses 0.00
Net Liquidation Proceeds 0.00
-------------------
Net Liquidation Losses 0.00
Cumulative Previous Net Losses 663.00
-------------------
Cumulative Net Losses 663.00
Original Pool Balance 92,857,811.12
Cumulative Net Loss Ratio 0.00%
Additional Pool Information:
Weighted Average Original Term 56.03
Weighted Average Remaining Term 51.86
Weighted Average Annual Percentage Rate 20.57%
Spread Account
Spread Account Cap
10% of Outstanding Certificate Balance 8,828,033.29
15% of Outstanding Certificate Balance 13,242,049.94
Is a Portfolio Performance Test violation continuing? (Y/N) N
Has an Insurance Agreement Event of Default occurred? (Y/N) N
--------------
Cap Amount 8,828,033.29
Spread Account Floor
3% of the Initial Certificate Balance 2,785,734.33
Outstanding Certificate Balance 88,280,332.92
Minimum Floor 100,000.00
--------------
Floor Amount 2,785,734.33
Required Spread Account Amount 8,828,033.29
Beginning of Period Spread Account Balance 5,318,533.71
Spread Account Deposit (Withdrawal) from Current Distributions 777,193.76
Transfer (to) from Cross-Collateralized Spread Accounts 0.00
Required addition to/(eligible withdrawal from) Spread Account 2,732,305.82
Earnings on Spread Account Balance 20,358.77
Amount of Spread Account deposit (withdrawal) 0.00
Amount of Withdrawl Allocated to B Piece Shortfalls 0.00
Net Spread Account Withdrawl to Seller 0.00
Ending Spread Account Balance 6,116,086.24
IN WITNESS WHEREOF, I, Jeffrey P. Fritz, 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: Jeffrey P. Fritz
Title: Senior Vice President
Current month excess servicing fee #REF!
Monthly Certificateholder Statement
CPS Auto Grantor Trust 1997-1
6.55% Asset-Backed Certificates
11.66% Class B Asset-Backed Certificates
Distribution Date 4/15/97
Collection Period 3/97
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 $1,356,961.82
(b) The amount of the distribution set forth in
paragraph A.1. (a) above in respect of interest $512,921.24
(c) The amount of the distribution set forth in
in paragraph A.1. (a) above in respect of principal $844,040.58
(d) The amount of the distribution set forth in
paragraph A.1. (a) above, per $1,000 interest $13.96
(e) The amount of the distribution set forth in
paragraph A.1. (b) above, per $1,000 interest $5.28
(f) The amount of the distribution set forth in
paragraph A.1. (c) above, per $1,000 interest $8.68
(g) The aggregate amount of the distribution to Class B
Certificateholders on the Distribution Date set forth above $92,479.93
(h) The amount of the distribution set forth in
paragraph A.1. (g) above in respect of interest $48,056.74
(i) The amount of the distribution set forth in
in paragraph A.1. (g) above in respect of principal $44,423.19
(j) Scheduled Payments due in such Collection Period $2,924,439.43
(k) Scheduled Payments collected in such
Collection Period $1,682,868.65
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 $102,327,009.71
(b) The Certificates Balance 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 $96,366,618.64
(c) The Pool factor as of the close of business
on the last day set forth above 0.9913174
2 Servicing Fee and Purchased Receivables.
(a) The aggregate amount of the Servicing Fee
(exclusive of the Standby Fee paid to the
Standby Servicer) paid to the Servicer with
respect to the Collection Period set forth above $168,090.52
The aggregate amount of the Standby Fee
(b) paid to the Standby Servicer with respect to the
Collection Period set forth above. $9,891.61
(c) The amount of the payment set forth in
paragraph B.2. (a) above per $1,000 interest $1.73
(d) The amount of the payment set forth in
paragraph B.2. (b) above per $1,000 interest $0.10
(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 7
Aggregate Purchase Amount $97,840.42
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 $0.00
(b) Distributions (to) from Collection Account $48,318.64
for Payaheads
(c) Interest earned on Payahead Balances $95.43
(d) Ending Payahead Account Balance $48,414.07
5 Spread Account.
(a) The Specified Spread Account Balance with respect to such
Distribution Date and the Spread Account Balance on the
Distribution Date set forth above, after giving effect to
distributions made on such Distribution Date
Specified Spread Account Balance $10,143,854.59
Spread Account Balance $3,867,014.10
(b) The change in the spread account on the Distribution
Date set forth above $285,568.76
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 $27,170.03
7 Losses and Delinquencies.
(a) The aggregate amount of Realized Losses on the
Distribution Date set forth above $0.00
(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 100
Aggregate Gross Amount $1,555,000.00
(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 1
Aggregate Gross Amount $1,000.00
8 Performance Triggers
(a) Delinquency Ratio 1.34%
(b) Average Delinquency Ratio 1.34%
(c) Cumulative Default Ratio 0.02%
(d) Cumulative Net Loss Ratio 0.00%
(e) Is a Portfolio Performance Test violation continuing? No
(f) Has an Insurance Agreement Event of Default occurred? No
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: 1,990,153.42
Lock Box NSF Items: (7,883.71)
Transfers from (to) Payahead Account: (48,318.64)
Collection Account Interest 1,739.38
Payahead Account Interest 95.43
Total Collection Proceeds: 1,935,785.88
For Distribution Date: 4/15/97
For Determination Date: 4/8/97
For Collection Period: 3/97
Collateral Activity Information
Principal
Beginning Principal Balance 102,327,009.71
Principal portion of payments collected (non-prepayments) 637,381.35
Prepayments in full allocable to principal 153,242.00
Collections allocable to principal 790,623.35
Partial prepayments relating to various contracts or policies 0.00
Liquidation Proceeds allocable to principal 0.00
Purchase Amounts allocable to principal 97,840.42
Total Principal 888,463.77
Realized Losses 0.00
Cram Down Losses 0.00
Ending Principal Balance 101,438,545.94
Interest
Collections allocable to interest 1,045,487.30
Liquidation Proceeds allocable to interest 0.00
Purchase Amounts allocable to interest 0.00
Recoveries from Liquidated Receivables from prior periods 0.00
-------------------
Total Interest 1,045,487.30
Certificate Information
Beginning of Period Class A Principal Balance 97,210,659.22
Beginning of Period Class B Principal Balance 5,116,350.49
Miscellaneous Balances
Beginning of Period Spread Account Balance 3,581,445.34
Additional Servicing Fee Amounts (late fees,prepayment charges, etc.) 3,230.34
Aggregate Payahead Balance 48,318.64
Aggregate Payahead Balance for preceding Distribution Date 0.00
Interest Earned on Payahead Balances 95.43
Scheduled Payments due in Collection Period 2,924,439.43
Scheduled Payments collected in Collection Period 1,682,868.65
Aggregate Amount of Realized Losses for preceding Distribution Date 0.00
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 100 1,555,000.00
60+ days delinquent 1 1,000.00
Purchased Receivables Aggregate
Purchase Amt
# of Receivables of Receivables
7 97,840.42
Information for Portfolio Performance Tests
Principal Balance of all Receivables delinquent more than 30 days as 1,556,000.00
of the close of business on the last day of the
related Collection Period.
Principal Balance of all Receivables that became Purchased 97,840.42
Receivables as of 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 21,200.24
Receivables during the related Collection Period.
Delinquency Ratio for second preceding Determination Date 0.00%
Delinquency Ratio for third preceding Determination Date 0.00%
Cumulative Defaults for preceding Determination Date 0.00
Cumulative Net Losses for preceding Determination Date 0.00
Is a Portfolio Performance Test violation continuing? (Y/N) N
Has an Insurance Agreement Event of Default occurred? (Y/N) N
Calculations
Total Distribution Amount
All collections on receivables (incl. amts from payahead, excl.
amounts deposited into payahead) 1,836,110.65
Liquidation Proceeds 0.00
Recoveries 0.00
Purchase Amounts 97,840.42
Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00
Investment earnings from Collection Account 1,739.38
Investment earnings from Payahead Account 95.43
-------------------
Total Distribution Amount 1,935,785.88
Distributable Amount
Principal Distributable Amount
Principal portion of payments collected (non-prepayments) 637,381.35
Prepayments in full allocable to principal 153,242.00
Principal Balance of Liquidated Receivables 0.00
Purchase Amounts allocable to principal 97,840.42
Cram Down Losses 0.00
-------------------
Principal Distributable Amount 888,463.77
Class A Principal Distributable Amount
Principal Distributable Amount 888,463.77
Times Class A Percentage (95%) 95%
-------------------
844,040.58
Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00
-------------------
Class A Principal Distributable Amount 844,040.58
Class A Interest Distributable Amount
Beginning of Period Principal Balance of the Certificates 97,210,659.22
Multiplied by Certificate Pass-Through Rate 6.55%
Multiplied by 30/360, or for the first Distribution Date, by 29/360 0.0805556
-------------------
Class A Interest Distributable Amount 512,921.24
Class B Principal Distributable Amount
Principal Distributable Amount 888,463.77
Times Class B Percentage (5%) 5%
-------------------
Class B Principal Distributable Amount 44,423.19
Class B Coupon Interest Amount
Beginning of Period Principal Balance of the Certificates 5,116,350.49
Multiplied by Certificate Pass-Through Rate 11.66%
Multiplied by 30/360, or for the first Distribution Date, by 29/360 0.0805556
-------------------
Class B Coupon Interest Amount 48,056.74
Class B Excess Interest Amount
Total Distribution Amount 1,935,785.88
minus
Class A Principal and Interest Distributable Amount 1,356,961.82
Class A Interest Carrover Shortfall 0.00
Class A Principal Carryover Shortfall 0.00
Class B Coupon Interest 48,056.74
Class B Interest Carryover Shortfall 0.00
Class B Principal Distributable Amount 44,423.19
Class B Principal Carryover Shortfall 0.00
Trustee distributions 1,236.45
Standby Servicer distributions 9,891.61
Servicer distributions 168,090.52
Collateral Agent distributions 1,236.45
Reimbursement Obligations 27,170.03
-------------------
278,719.07
Carryover Shortfalls from Prior Periods
Class B Principal Carryover Shortfall from previous period 0.00
-------------------
0.00
Class B Interest Carryover Shortfall from previous period 0.00
Interest on Class B Interest Carryover Shortfall 0.00
-------------------
0.00
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 Source act distributed Source
--- ------ --------------- ------
(i) Standby Fee 9,891.61 1,935,785.88 9,891.61 1,935,785.88
Servicing Fee (2.0%) 164,860.18 1,925,894.27 164,860.18 0.00
Additional Servicing Fee Amounts 3,230.34 1,761,034.09 3,230.34 0.00
(late fees,prepayment charges, etc.)
Unpaid Standby Fee from prior Collection Periods 0.00 1,757,803.75 0.00
Unpaid Servicing Fee from prior Collection Periods 0.00 1,757,803.75 0.00
(ii) Transition Expenses to Standby Servicer 0.00 1,757,803.75 0.00
(iii) Trustee Fee 1,236.45 1,757,803.75 1,236.45
Trustee's out-of-pocket expenses 0.00 1,756,567.30 0.00
Unpaid Trustee Fee from prior Collection Periods 0.00 1,756,567.30 0.00
Unpaid Trustee's out-of-pocket expenses from prior 0.00 1,756,567.30 0.00
Collection Periods
(iv) Collateral Agent Fee 1,236.45 1,756,567.30 1,236.45
Collateral Agent Expenses 0.00 1,755,330.85 0.00
Unpaid Collateral Agent Fee from prior 0.00 1,755,330.85 0.00
Collection Periods
Unpaid Collateral Agent Expenses from prior 0.00 1,755,330.85 0.00
Collection Periods
(v)(A) Class A Interest Distributable Amount - 512,921.24 1,755,330.85 512,921.24
Current Month
Prior Month(s) Class A Carryover Shortfall 0.00 1,242,409.61 0.00
Class A Interest Carryover Shortfall 0.00 1,242,409.61 0.00
Interest on Interest Carryover from 0.00 1,242,409.61 0.00
Prior Months
Current Month Class A Interest Carryover 0.00 1,242,409.61 0.00
Shortfall
Class A Interest Distributable Amount 512,921.24 1,242,409.61 512,921.24
(viii)(A)Class B Coupon Interest - Unadjusted 48,056.74 729,488.37 48,056.74
Class B Interest Carryover Shortfall - 0.00 681,431.63 0.00
Previous Month(s)
Interest on B Interest Shortfall - 0.00 681,431.63 0.00
Previous Month(s)
Interest on Interest Carryover from 0.00 681,431.63 0.00
Prior Months
Current Month Class B Interest Shortfall 0.00 681,431.63 0.00
Adjusted Class B Interest Distributable Amount 48,056.74 681,431.63 48,056.74
(v)(B) Class A Principal Distributable Amount - 844,040.58 633,374.89 633,374.89 1,091,745.30
Current Month
Class A Principal Carryover Shortfall - 0.00 0.00 0.00
Previous Month(s)
Current Month Class A Principal Shortfall 0.00 0.00 0.00
Withdrawl from Spread Account to Cover Shortfall 0.00
Class A Principal Distribution Amount 844,040.58 0.00 0.00 247,704.72
(vi) Certificate Insurer Premium 27,170.03 0.00 0.00
Certificate Insurer Premium Supplement 0.00 0.00 0.00
Other Reimbursement Obligations to Certificate 0.00 0.00 0.00
Insurer
(vii) Transition Expenses to successor Servicer 0.00 0.00 0.00
Class B Principal Distributable Amount - Current 44,423.19 0.00 0.00
Month Unadjusted
Class B Principal Carryover Shortfall - 0.00 0.00 0.00
Previous Month(s)
Current Month Class B Principal Shortfall 0.00 0.00 0.00
Adjusted Class B Principal Distributable Amount 44,423.19 0.00 0.00
Excess Interest Amount for Deposit in Spread Account 278,719.07 0.00 0.00
0.00 0.00
Certificate Balance
Class A Beginning of Period Principal Balance 97,210,659.22
Class A Principal Distributions 844,040.58
Class A End of Period Principal Balance 96,366,618.64
Class B Beginning of Period Principal Balance 5,116,350.49
Class B Principal Distributable Amount 44,423.19
Class B End of Period Principal Balance BEFORE Spread Account Distributions 5,071,927.30
Withdrawl from Spread Account to Cover B Shortfalls 0.00
Class B End of Period Principal Balance AFTER Spread Account Distributions 5,071,927.30
Class A Deficiency - Interest
(i) Total Distribution Amount Available 1,935,785.88
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 693,376.27
(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) 1,242,409.61
Class B Deficiency - Interest
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 1,242,409.61
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 48,056.74
(iii) Prior month(s) carryover shortfalls 0.00
(iv) Interest on Prior month(s) carryover shortfalls 0.00
(v) Interest on Interest of prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) - (v) , there is a Class B Deficiency NO
Amount Remaining for Further Distribution/(Deficiency) 1,194,352.87
Class A Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 1,194,352.87
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 844,040.58
(iii) Prior month(s) carryover shortfalls 0.00
Withdrawl 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) 350,312.29
Other Distributions
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 350,312.29
(vi) Certificate Insurer Premium 27,170.03
(v) Certificate Insurer Premium Supplement 0.00
Deficiency Amount 0.00
Withdrawl 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) 323,142.26
Class B Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 323,142.26
(ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 44,423.19
(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) 278,719.07
Withdrawl from Spread Account to B PieceCover Shortfalls 0.00
Adjusted Amount Remaining for Further Distribution/(Deficiency) 278,719.07
Calculations
Performance Measures
Calculation of Delinquency Ratio (Current Period)
Delinquency Amount
Receivables more than 30 days delinquent 1,556,000.00
Purchased receivables more than 30 days delinquent 97,840.42
-------------------
Total 1,653,840.42
Aggregate Gross Principal Balance as of the close of
business on the last day of the
Collection Period. 123,755,973.15
Delinquency Ratio 1.34%
Calculation of Average Delinquency Ratio
Delinquency Ratio for most recent Determination Date 1.34%
Delinquency Ratio for second preceding Determination Date 0.00%
Delinquency Ratio for third preceding Determination Date 0.00%
-------------------
Average Delinquency Ratio 1.34% 0.45%
Calculation of Cumulative Default Ratio
Default Amount
Principal Balance of Previously Defaulted Receivables 0.00
Current Period Defaulted Receivables 21,200.24
-------------------
Total 21,200.24
Cumulative Defaulted Receivables 21,200.24
Original Pool Balance 102,327,009.71
Cumulative Default Ratio 0.02%
Calculation of Cumulative Net Loss Ratio
Calculation of Net Liquidation Losses
Principal Balance plus accrued and unpaid interest of
Liquidated Receivables 0.00
Cram Down Losses 0.00
Net Liquidation Proceeds 0.00
-------------------
Net Liquidation Losses 0.00
Cumulative Previous Net Losses 0.00
-------------------
Cumulative Net Losses 0.00
Original Pool Balance 102,327,009.71
Cumulative Net Loss Ratio 0.00%
Additional Pool Information:
Weighted Average Original Term 56.35
Weighted Average Remaining Term 54.62
Weighted Average Annual Percentage Rate 20.59%
Spread Account
Spread Account Cap
10% of Outstanding Certificate Balance 10,143,854.59
15% of Outstanding Certificate Balance 15,215,781.89
Is a Portfolio Performance Test violation continuing? (Y/N) N
Has an Insurance Agreement Event of Default occurred? (Y/N) N
--------------
Cap Amount 10,143,854.59
Spread Account Floor
3% of the Initial Certificate Balance 3,069,810.29
Outstanding Certificate Balance 101,438,545.94
Minimum Floor 100,000.00
--------------
Floor Amount 3,069,810.29
Required Spread Account Amount 10,143,854.59
Beginning of Period Spread Account Balance 3,581,445.34
Spread Account Deposit (Withdrawal) from Current Distributions 278,719.07
Transfer (to) from Cross-Collateralized Spread Accounts 0.00
Required addition to/(eligible withdrawal from) Spread Account 6,283,690.18
Earnings on Spread Account Balance 6,849.69
Amount of Spread Account deposit (withdrawal) 0.00
Amount of Withdrawl Allocated to B Piece Shortfalls 0.00
Net Spread Account Withdrawl to Seller 0.00
Ending Spread Account Balance 3,867,014.10
IN WITNESS WHEREOF, I, Jeffrey P. Fritz, 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: Jeffrey P. Fritz
Title: Senior Vice President
Current month excess servicing fee #REF!