Monthly Certificateholder Statement
FASCO Auto Grantor Trust 1996-1
6.65% Asset-Backed Certificates
Revised
Distribution Date 8/15/97
Collection Period 7/97
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 $2,501,716.94
(b) The amount of the distribution set forth in
paragraph A.1. (a) above in respect of interest $330,271.81
(c) The amount of the distribution set forth in
in paragraph A.1. (a) above in respect of principal $2,171,445.13
(d) The amount of the distribution set forth in
paragraph A.1. (a) above, per $1,000 interest $29.62
(e) The amount of the distribution set forth in
paragraph A.1. (b) above, per $1,000 interest $3.91
(f) The amount of the distribution set forth in
paragraph A.1. (c) above, per $1,000 interest $25.71
(g) The aggregate amount of the distribution to Class B
Certificateholders on the Distribution Date set forth above $140,426.03
(h) The amount of the distribution set forth in
paragraph A.1. (g) above in respect of interest $26,139.44
(i) The amount of the distribution set forth in
in paragraph A.1. (g) above in respect of principal $114,286.59
(j) Scheduled Payments due in such Collection Period $2,119,075.60
(k) Scheduled Payments collected in such
Collection Period $1,741,980.36
B. Information Regarding the Performance of the Trust.
1 Pool Balance and Certificate Balances
(a) The aggregate Principal Balance of the
Receivables as of the close of business
on the last day of the preceding Collection Period $62,734,653.51
(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 $60,510,870.22
(c) The Pool factor as of the close of business
on the last day set forth above 0.9645526
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 $122,152.47
The aggregate amount of the Standby Fee
(b) paid to the Standby Servicer with respect to the
Collection Period set forth above. $4,182.31
(c) The amount of the payment set forth in
paragraph B.2. (a) above per $1,000 interest $1.45
(d) The amount of the payment set forth in
paragraph B.2. (b) above per $1,000 interest $0.05
(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 Interest Carryover shortfall
after giving effect to the payments set forth in
paragraph A.1. (b) above $0.00
(b) The amount of the Principal Carryover Shortfall after giving
effect to the payment set forth in
paragraph A.1. (c) above $0.00
4 Payahead Account.
(a) The aggregate Payahead Balance on the
prior Distribution Date $29,220.47
(b) Distributions (to) from Collection Account $1,576.08
for Payaheads
(c) Interest earned on Payahead Balances $113.87
(d) Ending Payahead Account Balance $30,910.42
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 $6,051,087.02
Spread Account Balance $6,051,087.02
(b) The change in the spread account on the Distribution
Date set forth above ($227,342.93)
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 $16,749.39
7 Losses and Delinquencies.
(a) The aggregate amount of Realized Losses on the
Distribution Date set forth above $639,125.22
(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 223
Aggregate Gross Amount $2,749,000.00
(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 260
Aggregate Gross Amount $3,427,000.00
8 Performance Triggers
(a) Delinquency Ratio 8.67%
(b) Average Delinquency Ratio 7.91%
(c) Cumulative Default Ratio 9.98%
(d) Cumulative Net Loss Ratio 5.56%
(e) Is a Portfolio Performance Test violation continuing? No
(f) Has an Insurance Agreement Event of Default occurred? No
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: 2,769,095.90
Lock Box NSF Items: (53,780.95)
Transfers from (to) Payahead Account: (1,576.08)
Collection Account Interest 10,994.33
Payahead Account Interest 113.87
Total Collection Proceeds: 2,724,847.07
For Distribution Date: 8/15/97
For Determination Date: 8/8/97
For Collection Period: 7/97
Collateral Activity Information
Principal
Beginning Principal Balance 62,734,653.51
Principal portion of payments collected (non-prepayments) 687,973.26
Prepayments in full allocable to principal 544,571.00
Collections allocable to principal 1,232,544.26
Partial prepayments relating to various contracts or policies 0.00
Liquidation Proceeds allocable to principal 414,062.24
Purchase Amounts allocable to principal 0.00
-------------------
Total Principal 1,646,606.50
Realized Losses 639,125.22
Cram Down Losses 0.00
Ending Principal Balance 60,448,921.79
Interest
Collections allocable to interest 1,054,007.10
Liquidation Proceeds allocable to interest 0.00
Purchase Amounts allocable to interest 0.00
Recoveries from Liquidated Receivables from prior periods 24,233.47
-------------------
Total Interest 1,078,240.57
Certificate Information
Beginning of Period Class A Principal Balance 59,597,920.84
Beginning of Period Class B Principal Balance 3,136,732.67
Miscellaneous Balances
Beginning of Period Spread Account Balance 6,278,429.95
Additional Servicing Fee Amounts (late fees,prepayment charges, etc.) 17,594.71
Aggregate Payahead Balance 30,796.55
Aggregate Payahead Balance for preceding Distribution Date 29,220.47
Interest Earned on Payahead Balances 113.87
Scheduled Payments due in Collection Period 2,119,075.60
Scheduled Payments collected in Collection Period 1,741,980.36
Aggregate Amount of Realized Losses for preceding Distribution Date 639,125.22
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 223 2,749,000.00
60+ days delinquent 260 3,427,000.00
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 6,176,000.00
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 555,069.82
Receivables during the related Collection Period.
Delinquency Ratio for second preceding Determination Date 7.89%
Delinquency Ratio for third preceding Determination Date 7.16%
Cumulative Defaults for preceding Determination Date 8,317,042.00
Cumulative Net Losses for preceding Determination Date 4,326,878.00
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) 2,286,551.36
Liquidation Proceeds 414,062.24
Recoveries 24,233.47
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 2,724,847.07
Distributable Amount
Principal Distributable Amount
Principal portion of payments collected (non-prepayments) 687,973.26
Prepayments in full allocable to principal 544,571.00
Principal Balance of Liquidated Receivables 1,053,187.46
Purchase Amounts allocable to principal 0.00
Cram Down Losses 0.00
-------------------
Principal Distributable Amount 2,285,731.72
Class A Principal Distributable Amount
Principal Distributable Amount 2,285,731.72
Times Class A Percentage (95%) 95%
-------------------
2,171,445.13
Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00
-------------------
Class A Principal Distributable Amount 2,171,445.13
Class A Interest Distributable Amount
Beginning of Period Principal Balance of the Certificates 59,597,920.84
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 330,271.81
Class B Principal Distributable Amount
Principal Distributable Amount 2,285,731.72
Times Class B Percentage (5%) 5%
-------------------
Class B Principal Distributable Amount 114,286.59
Class B Coupon Interest Amount
Beginning of Period Principal Balance of the Certificates 3,136,732.67
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 26,139.44
Class B Excess Interest Amount
Total Distribution Amount 2,724,847.07
minus
Class A Principal and Interest Distributable Amount 2,501,716.94
Class A Interest Carrover Shortfall 0.00
Class A Principal Carryover Shortfall 0.00
Class B Coupon Interest 26,139.44
Class B Interest Carryover Shortfall 0.00
Class B Principal Distributable Amount 114,286.59
Class B Principal Carryover Shortfall 0.00
Trustee distributions 784.18
Standby Servicer distributions 4,182.31
Servicer distributions 122,152.47
Collateral Agent distributions 784.18
Reimbursement Obligations 16,749.39
-------------------
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 Source act distributed Source
--- ------ --------------- ------
(i) Standby Fee 4,182.31 2,724,847.07 4,182.31 2,724,847.07
Servicing Fee (2.0%) 104,557.76 2,720,664.76 104,557.76 0.00
Additional Servicing Fee Amounts 17,594.71 2,616,107.00 17,594.71 0.00
(late fees,prepayment charges, etc.)
Unpaid Standby Fee from prior Collection Periods 0.00 2,598,512.29 0.00
Unpaid Servicing Fee from prior Collection Periods 0.00 2,598,512.29 0.00
(ii) Transition Expenses to Standby Servicer 0.00 2,598,512.29 0.00
(iii) Trustee Fee 784.18 2,598,512.29 784.18
Trustee's out-of-pocket expenses 0.00 2,597,728.11 0.00
Unpaid Trustee Fee from prior Collection Periods 0.00 2,597,728.11 0.00
Unpaid Trustee's out-of-pocket expenses from prior 0.00 2,597,728.11 0.00
Collection Periods
(iv) Collateral Agent Fee 784.18 2,597,728.11 784.18
Collateral Agent Expenses 0.00 2,596,943.93 0.00
Unpaid Collateral Agent Fee from prior 0.00 2,596,943.93 0.00
Collection Periods
Unpaid Collateral Agent Expenses from prior 0.00 2,596,943.93 0.00
Collection Periods
(v)(A) Class A Interest Distributable Amount - Current Month 330,271.81 2,596,943.93 330,271.81
Prior Month(s) Class A Carryover Shortfall 0.00 2,266,672.12 0.00
Class A Interest Carryover Shortfall 0.00 2,266,672.12 0.00
Interest on Interest Carryover from Prior Months 0.00 2,266,672.12 0.00
Current Month Class A Interest Carryover Shortfall 0.00 2,266,672.12 0.00
Class A Interest Distributable Amount 330,271.81 2,266,672.12 330,271.81
(viii)(A)Class B Coupon Interest - Unadjusted 26,139.44 1,936,400.31 26,139.44
Class B Interest Carryover Shortfall - Previous Month(s) 0.00 1,910,260.87 0.00
Interest on B Interest Shortfall - Previous Month(s) 0.00 1,910,260.87 0.00
Interest on Interest Carryover from Prior Months 0.00 1,910,260.87 0.00
Current Month Class B Interest Shortfall 0.00 1,910,260.87 0.00
Adjusted Class B Interest Distributable Amount 26,139.44 1,910,260.87 26,139.44
(v)(B) Class A Principal Distributable Amount - Current Month 2,171,445.13 1,884,121.43 1,884,121.43 553,401.94
Class A Principal Carryover Shortfall - Previous Month(s) 0.00 0.00 0.00
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 2,171,445.13 0.00 0.00 0.00
(vi) Certificate Insurer Premium 16,749.39 0.00 0.00
Certificate Insurer Premium Supplement 0.00 0.00 0.00
Other Reimbursement Obligations to Certificate Insurer 0.00 0.00 0.00
(vii) Transition Expenses to successor Servicer 0.00 0.00 0.00
Class B Principal Distributable Amount - Current 114,286.59 0.00 0.00
Month Unadjusted
Class B Principal Carryover Shortfall - Previous Month(s) 0.00 0.00 0.00
Current Month Class B Principal Shortfall (61,948.43) 0.00 (61,948.43)
Adjusted Class B Principal Distributable Amount 52,338.16 61,948.43 52,338.16
Excess Interest Amount for Deposit in Spread Account 0.00 9,610.27 0.00
9,610.27 9,610.27
Certificate Balance
Class A Beginning of Period Principal Balance 59,597,920.84
Class A Principal Distributions 2,171,445.13
Class A End of Period Principal Balance 57,426,475.71
Class B Beginning of Period Principal Balance 3,136,732.67
Class B Principal Distributable Amount 52,338.16
Class B End of Period Principal Balance BEFORE Spread Account Distributions 3,084,394.51
Withdrawl from Spread Account to Cover B Shortfalls 61,948.43
Class B End of Period Principal Balance AFTER Spread Account Distributions 3,022,446.08
Class A Deficiency - Interest
(i) Total Distribution Amount Available 2,724,847.07
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 458,174.95
(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) 2,266,672.12
Class B Deficiency - Interest
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 2,266,672.12
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 26,139.44
(iii) Prior month(s) carryover shortfalls 0.00
(iv) Interest on Prior month(s) carryover shortfalls 0.00
(v) Interest on Interest of prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) - (v) , there is a Class B Deficiency NO
Amount Remaining for Further Distribution/(Deficiency) 2,240,532.68
Class A Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 2,240,532.68
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 2,171,445.13
(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) 69,087.55
Other Distributions
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 69,087.55
(vi) Certificate Insurer Premium 16,749.39
(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) 52,338.16
Class B Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 52,338.16
(ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 114,286.59
(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) (61,948.43)
Withdrawl from Spread Account to B PieceCover Shortfalls (61,948.43)
Adjusted Amount Remaining for Further Distribution/(Deficiency) 0.00
Calculations
Performance Measures
Calculation of Delinquency Ratio (Current Period)
Delinquency Amount
Receivables more than 30 days delinquent 6,176,000.00
Purchased receivables more than 30 days delinquent 0.00
-------------------
Total 6,176,000.00
Aggregate Gross Principal Balance as of the close of
business on the last day of the
Collection Period. 71,264,178.46
Delinquency Ratio 8.67%
Calculation of Average Delinquency Ratio
Delinquency Ratio for most recent Determination Date 8.67%
Delinquency Ratio for second preceding Determination Date 7.89%
Delinquency Ratio for third preceding Determination Date 7.16%
-------------------
Average Delinquency Ratio 7.91% 7.91%
Calculation of Cumulative Default Ratio
Default Amount
Principal Balance of Previously Defaulted Receivables 8,317,042.00
Current Period Defaulted Receivables 555,069.82
-------------------
Total 8,872,111.82
Cumulative Defaulted Receivables 8,872,111.82
Original Pool Balance 88,900,750.37
Cumulative Default Ratio 9.98%
Calculation of Cumulative Net Loss Ratio
Calculation of Net Liquidation Losses
Principal Balance plus accrued and unpaid interest of
Liquidated Receivables 1,053,187.46
Cram Down Losses 0.00
Net Liquidation Proceeds (438,295.71)
-------------------
Net Liquidation Losses 614,891.75
Cumulative Previous Net Losses 4,326,878.00
-------------------
Cumulative Net Losses 4,941,769.75
Original Pool Balance 88,900,750.37
Cumulative Net Loss Ratio 5.56%
Additional Pool Information:
Weighted Average Original Term 54.67
Weighted Average Remaining Term 41.18
Weighted Average Annual Percentage Rate 20.40%
Spread Account
Spread Account Cap
10% of Outstanding Certificate Balance 6,051,087.02
15% of Outstanding Certificate Balance 9,076,630.53
Is a Portfolio Performance Test violation continuing? (Y/N) N
Has an Insurance Agreement Event of Default occurred? (Y/N) N
--------------
Cap Amount 6,051,087.02
Spread Account Floor
3% of the Initial Certificate Balance 2,667,022.51
Outstanding Certificate Balance 60,510,870.22
Minimum Floor 100,000.00
--------------
Floor Amount 2,667,022.51
Required Spread Account Amount 6,051,087.02
Beginning of Period Spread Account Balance 6,278,429.95
Spread Account Deposit (Withdrawal) from Current Distributions 0.00
Transfer (to) from Cross-Collateralized Spread Accounts 0.00
Required addition to/(eligible withdrawal from) Spread Account (227,342.93)
Earnings on Spread Account Balance 27,526.26
Amount of Spread Account deposit (withdrawal) (254,869.19)
Amount of Withdrawl Allocated to B Piece Shortfalls 61,948.43
Net Spread Account Withdrawl to Seller (192,920.76)
Ending Spread Account Balance 6,051,087.02
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
Monthly Certificateholder Statement
CPS Auto Grantor Trust 1996-2
6.70% Asset-Backed Certificates
Revised
Distribution Date 8/15/97
Collection Period 7/97
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 $2,597,890.53
(b) The amount of the distribution set forth in
paragraph A.1. (a) above in respect of interest $393,447.15
(c) The amount of the distribution set forth in
in paragraph A.1. (a) above in respect of principal $2,204,443.38
(d) The amount of the distribution set forth in
paragraph A.1. (a) above, per $1,000 interest $29.68
(e) The amount of the distribution set forth in
paragraph A.1. (b) above, per $1,000 interest $4.50
(f) The amount of the distribution set forth in
paragraph A.1. (c) above, per $1,000 interest $25.19
(g) The aggregate amount of the distribution to Class B
Certificateholders on the Distribution Date set forth above $150,948.34
(h) The amount of the distribution set forth in
paragraph A.1. (g) above in respect of interest $34,925.00
(i) The amount of the distribution set forth in
in paragraph A.1. (g) above in respect of principal $116,023.34
(j) Scheduled Payments due in such Collection Period $2,347,252.71
(k) Scheduled Payments collected in such
Collection Period $1,809,676.78
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 $74,176,995.21
(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 $71,856,528.48
(c) The Pool factor as of the close of business
on the last day set forth above 0.9687172
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 $143,088.34
The aggregate amount of the Standby Fee
(b) paid to the Standby Servicer with respect to the
Collection Period set forth above. $4,945.13
(c) The amount of the payment set forth in
paragraph B.2. (a) above per $1,000 interest $1.63
(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 $23,642.56
(b) Distributions (to) from Collection Account $5,320.91
for Payaheads
(c) Interest earned on Payahead Balances $111.62
(d) Ending Payahead Account Balance $29,075.09
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 $7,185,652.85
Spread Account Balance $7,185,652.85
(b) The change in the spread account on the Distribution
Date set forth above ($232,046.67)
6 Policy
(a) The amount paid to the Certificateholders
under the Policy for such Distribution Date $0.00
(b) The amount distributable to the Certificate
Insurer on such Distribution Date $19,910.25
7 Losses and Delinquencies.
(a) The aggregate amount of Realized Losses on the
Distribution Date set forth above $675,998.93
(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 251
Aggregate Gross Amount $3,354,000.00
(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 262
Aggregate Gross Amount $3,587,000.00
8 Performance Triggers
(a) Delinquency Ratio 8.05%
(b) Average Delinquency Ratio 7.24%
(c) Cumulative Default Ratio 6.85%
(d) Cumulative Net Loss Ratio 2.94%
(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: 3,022,086.37
Lock Box NSF Items: (61,339.24)
Transfers from (to) Payahead Account: (5,320.91)
Collection Account Interest 11,758.11
Payahead Account Interest 111.62
Total Collection Proceeds: 2,967,295.95
For Distribution Date: 8/15/97
For Determination Date: 8/8/97
For Collection Period: 7/97
Collateral Activity Information
Principal
Beginning Principal Balance 74,176,995.21
Principal portion of payments collected (non-prepayments) 510,974.89
Prepayments in full allocable to principal 583,855.00
Collections allocable to principal 1,094,829.89
Partial prepayments relating to various contracts or policies 0.00
Liquidation Proceeds allocable to principal 549,637.90
Purchase Amounts allocable to principal 0.00
-------------------
Total Principal 1,644,467.79
Realized Losses 675,998.93
Cram Down Losses 0.00
Ending Principal Balance 71,856,528.49
Interest
Collections allocable to interest 1,298,701.89
Liquidation Proceeds allocable to interest 0.00
Purchase Amounts allocable to interest 0.00
Recoveries from Liquidated Receivables from prior periods 24,126.27
-------------------
Total Interest 1,322,828.16
Certificate Information
Beginning of Period Class A Principal Balance 70,468,145.43
Beginning of Period Class B Principal Balance 3,708,849.77
Miscellaneous Balances
Beginning of Period Spread Account Balance 7,417,699.52
Additional Servicing Fee Amounts (late fees,prepayment charges, etc.) 19,460.01
Aggregate Payahead Balance 28,963.47
Aggregate Payahead Balance for preceding Distribution Date 23,642.56
Interest Earned on Payahead Balances 111.62
Scheduled Payments due in Collection Period 2,347,252.71
Scheduled Payments collected in Collection Period 1,809,676.78
Aggregate Amount of Realized Losses for preceding Distribution Date 675,998.93
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 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 251 3,354,000.00
60+ days delinquent 262 3,587,000.00
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 6,941,000.00
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 784,932.14
Receivables during the related Collection Period.
Delinquency Ratio for second preceding Determination Date 7.09%
Delinquency Ratio for third preceding Determination Date 6.59%
Cumulative Defaults for preceding Determination Date 5,529,014.00
Cumulative Net Losses for preceding Determination Date 2,053,993.00
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) 2,393,531.78
Liquidation Proceeds 549,637.90
Recoveries 24,126.27
Purchase Amounts 0.00
Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00
Investment earnings from Collection Account 0.00
Investment earnings from Payahead Account 0.00
-------------------
Total Distribution Amount 2,967,295.95
Distributable Amount
Principal Distributable Amount
Principal portion of payments collected (non-prepayments) 510,974.89
Prepayments in full allocable to principal 583,855.00
Principal Balance of Liquidated Receivables 1,225,636.83
Purchase Amounts allocable to principal 0.00
Cram Down Losses 0.00
-------------------
Principal Distributable Amount 2,320,466.72
Class A Principal Distributable Amount
Principal Distributable Amount 2,320,466.72
Times Class A Percentage (95%) 95%
-------------------
2,204,443.38
Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00
-------------------
Class A Principal Distributable Amount 2,204,443.38
Class A Interest Distributable Amount
Beginning of Period Principal Balance of the Certificates 70,468,145.43
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 393,447.15
Class B Principal Distributable Amount
Principal Distributable Amount 2,320,466.72
Times Class B Percentage (5%) 5%
-------------------
Class B Principal Distributable Amount 116,023.34
Class B Coupon Interest Amount
Beginning of Period Principal Balance of the Certificates 3,708,849.77
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 34,925.00
Class B Excess Interest Amount
Total Distribution Amount 2,967,295.95
minus
Class A Principal and Interest Distributable Amount 2,597,890.53
Class A Interest Carrover Shortfall 0.00
Class A Principal Carryover Shortfall 0.00
Class B Coupon Interest 34,925.00
Class B Interest Carryover Shortfall 0.00
Class B Principal Distributable Amount 116,023.34
Class B Principal Carryover Shortfall 0.00
Trustee distributions 927.21
Standby Servicer distributions 4,945.13
Servicer distributions 143,088.34
Collateral Agent distributions 927.21
Reimbursement Obligations 19,910.25
-------------------
48,658.94
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 4,945.13 0.00 0.00 116,023.34
Servicing Fee (2.0%) 123,628.33 0.00 0.00 0.00
Additional Servicing Fee Amounts 19,460.01 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 927.21 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 927.21 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 393,447.15 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
Current Month Class A Interest Carryover Shortfall 0.00 0.00 0.00
Class A Interest Distributable Amount 393,447.15 0.00 0.00
(viii)(A)Class B Coupon Interest - Unadjusted 34,925.00 0.00 0.00
Class B Interest Carryover Shortfall - Previous Month(s) 0.00 0.00 0.00 116,023.34
Interest on B Interest Shortfall - Previous Month(s) 0.00 0.00 0.00 116,023.34
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 34,925.00 0.00 0.00
(v)(B) Class A Principal Distributable Amount - Current Month 2,204,443.38 0.00 0.00
Class A Principal Carryover Shortfall - Previous Month(s) 0.00 0.00 0.00
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 2,204,443.38 0.00 0.00
(vi) Certificate Insurer Premium 19,910.25 0.00 0.00
Certificate Insurer Premium Supplement 0.00 0.00 0.00
Other Reimbursement Obligations to Certificate Insurer 0.00 0.00 0.00
(vii) Transition Expenses to successor Servicer 0.00 0.00 0.00
Class B Principal Distributable Amount - Current 116,023.34 0.00 0.00
Month Unadjusted
Class B Principal Carryover Shortfall - Previous Month(s) 0.00 0.00 0.00
Current Month Class B Principal Shortfall 0.00 0.00 0.00
Adjusted Class B Principal Distributable Amount 116,023.34 0.00 0.00
Excess Interest Amount for Deposit in 48,658.94 0.00 0.00
Spread Account 0.00 0.00
Certificate Balance
Class A Beginning of Period Principal Balance 70,468,145.43
Class A Principal Distributions 2,204,443.38
Class A End of Period Principal Balance 68,263,702.05
Class B Beginning of Period Principal Balance 3,708,849.77
Class B Principal Distributable Amount 116,023.34
Class B End of Period Principal Balance BEFORE Spread Account Distributions 3,592,826.43
Withdrawl from Spread Account to Cover B Shortfalls 0.00
Class B End of Period Principal Balance AFTER Spread Account Distributions 3,592,826.43
Class A Deficiency - Interest
(i) Total Distribution Amount Available 2,967,295.95
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 543,335.04
(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 Deficiency Claim Amount NO
Amount Remaining for Further Distribution/(Deficiency) 2,423,960.91
Class B Deficiency - Interest
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 2,423,960.91
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 34,925.00
(iii) Prior month(s) carryover shortfalls 0.00
(iv) Interest on Prior month(s) carryover shortfalls 0.00
(v) Interest on Interest of prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) - (v) , there is a Class B Deficiency NO
Amount Remaining for Further Distribution/(Deficiency) 2,389,035.91
Class A Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 2,389,035.91
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 2,204,443.38
(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) 184,592.53
Other Distributions
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 184,592.53
(vi) Certificate Insurer Premium 19,910.25
(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) 164,682.28
Class B Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 164,682.28
(ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 116,023.34
(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) 48,658.94
Withdrawl from Spread Account to B PieceCover Shortfalls 0.00
Adjusted Amount Remaining for Further Distribution/(Deficiency) 48,658.94
Calculations
Performance Measures
Calculation of Delinquency Ratio (Current Period)
Delinquency Amount
Receivables more than 30 days delinquent 6,941,000.00
Purchased receivables more than 30 days delinquent 0.00
-------------------
Total 6,941,000.00
Aggregate Gross Principal Balance as of the close of
business on the last day of the
Collection Period. 86,217,243.79
Delinquency Ratio 8.05%
Calculation of Average Delinquency Ratio
Delinquency Ratio for most recent Determination Date 8.05%
Delinquency Ratio for second preceding Determination Date 7.09%
Delinquency Ratio for third preceding Determination Date 6.59%
-------------------
Average Delinquency Ratio 7.24% 7.24%
Calculation of Cumulative Default Ratio
Default Amount
Principal Balance of Previously Defaulted Receivables 5,529,014.00
Current Period Defaulted Receivables 784,932.14
-------------------
Total 6,313,946.14
Cumulative Defaulted Receivables 6,313,946.14
Original Pool Balance 92,129,299.54
Cumulative Default Ratio 6.85%
Calculation of Cumulative Net Loss Ratio
Calculation of Net Liquidation Losses
Principal Balance plus accrued and unpaid interest of
Liquidated Receivables 1,225,636.83
Cram Down Losses 0.00
Net Liquidation Proceeds (573,764.17)
-------------------
Net Liquidation Losses 651,872.66
Cumulative Previous Net Losses 2,053,993.00
-------------------
Cumulative Net Losses 2,705,865.66
Original Pool Balance 92,129,299.54
Cumulative Net Loss Ratio 2.94%
Additional Pool Information:
Weighted Average Original Term 55.54
Weighted Average Remaining Term 45.18
Weighted Average Annual Percentage Rate 20.52%
Spread Account
Spread Account Cap
10% of Outstanding Certificate Balance 7,185,652.85
15% of Outstanding Certificate Balance 10,778,479.27
Is a Portfolio Performance Test violation continuing? (Y/N) N
Has an Insurance Agreement Event of Default occurred? (Y/N) N
--------------
Cap Amount 7,185,652.85
Spread Account Floor
3% of the Initial Certificate Balance 2,763,878.99
Outstanding Certificate Balance 71,856,528.48
Minimum Floor 100,000.00
--------------
Floor Amount 2,763,878.99
Required Spread Account Amount 7,185,652.85
Beginning of Period Spread Account Balance 7,417,699.52
Spread Account Deposit (Withdrawal) from Current Distributions 48,658.94
Transfer (to) from Cross-Collateralized Spread Accounts 0.00
Required addition to/(eligible withdrawal from) Spread Account (280,705.61)
Earnings on Spread Account Balance 32,714.89
Amount of Spread Account deposit (withdrawal) (313,420.50)
Amount of Withdrawl Allocated to B Piece Shortfalls 0.00
Net Spread Account Withdrawl to Seller (313,420.50)
Ending Spread Account Balance 7,185,652.85
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
Monthly Certificateholder Statement
CPS Auto Grantor Trust 1996-3
6.30% Asset-Backed Certificates
Revised
Distribution Date 8/15/97
Collection Period 7/97
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 $2,441,440.75
(b) The amount of the distribution set forth in
paragraph A.1. (a) above in respect of interest $412,372.11
(c) The amount of the distribution set forth in
in paragraph A.1. (a) above in respect of principal $2,029,068.64
(d) The amount of the distribution set forth in
paragraph A.1. (a) above, per $1,000 interest $27.68
(e) The amount of the distribution set forth in
paragraph A.1. (b) above, per $1,000 interest $4.67
(f) The amount of the distribution set forth in
paragraph A.1. (c) above, per $1,000 interest $23.00
(g) The aggregate amount of the distribution to Class B
Certificateholders on the Distribution Date set forth above $141,760.32
(h) The amount of the distribution set forth in
paragraph A.1. (g) above in respect of interest $34,967.23
(i) The amount of the distribution set forth in
in paragraph A.1. (g) above in respect of principal $106,793.09
(j) Scheduled Payments due in such Collection Period $2,514,222.41
(k) Scheduled Payments collected in such
Collection Period $2,152,479.95
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 $82,681,125.14
(b) The aggregate balance of the Certificates as of the close of
business on the last day set forth above, after giving
effect to payments
allocated to principal in paragraph A.1.(c) above $80,545,263.41
(c) The Pool factor as of the close of business
on the last day set forth above 0.9741675
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 $154,435.46
The aggregate amount of the Standby Fee
(b) paid to the Standby Servicer with respect to the
Collection Period set forth above. $5,512.08
(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 $31,058.10
(b) Distributions (to) from Collection Account $4,195.08
for Payaheads
(c) Interest earned on Payahead Balances $138.47
(d) Ending Payahead Account Balance $35,391.65
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 $8,054,526.34
Spread Account Balance $8,054,526.34
(b) The change in the spread account on the Distribution
Date set forth above ($114,596.75)
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 $22,317.75
7 Losses and Delinquencies.
(a) The aggregate amount of Realized Losses on the
Distribution Date set forth above $543,186.65
(b) The change in the aggregate amount of
Realized Losses from the prior Distribution Date $0.00
(c) The number of Receivables and the aggregate gross amount
scheduled to be paid, including unearned finance and other
charges, for which Obligors are delinquent between 31 and 59
days
Number 262
Aggregate Gross Amount $3,574,000.00
(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 319
Aggregate Gross Amount $4,559,000.00
8 Performance Triggers
(a) Delinquency Ratio 8.37%
(b) Average Delinquency Ratio 7.40%
(c) Cumulative Default Ratio 3.67%
(d) Cumulative Net Loss Ratio 1.06%
(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: 3,108,859.97
Lock Box NSF Items: (60,369.60)
Transfers from (to) Payahead Account: (4,195.08)
Collection Account Interest 11,526.76
Payahead Account Interest 138.47
Total Collection Proceeds: 3,055,960.52
For Distribution Date: 8/15/97
For Determination Date: 8/8/97
For Collection Period: 7/97
Collateral Activity Information
Principal
Beginning Principal Balance 82,681,125.14
Principal portion of payments collected (non-prepayments) 694,880.57
Prepayments in full allocable to principal 447,341.00
Collections allocable to principal 1,142,221.57
Partial prepayments relating to various contracts or policies 0.00
Liquidation Proceeds allocable to principal 450,453.51
Purchase Amounts allocable to principal 0.00
-------------------
Total Principal 1,592,675.08
Realized Losses 543,186.65
Cram Down Losses 0.00
Ending Principal Balance 80,545,263.41
Interest
Collections allocable to interest 1,457,599.38
Liquidation Proceeds allocable to interest 0.00
Purchase Amounts allocable to interest 0.00
Recoveries from Liquidated Receivables from prior periods 5,686.06
-------------------
Total Interest 1,463,285.44
Certificate Information
Beginning of Period Class A Principal Balance 78,547,068.87
Beginning of Period Class B Principal Balance 4,134,056.27
Miscellaneous Balances
Beginning of Period Spread Account Balance 8,169,123.09
Additional Servicing Fee Amounts (late fees,prepayment charges, etc.) 16,633.58
Aggregate Payahead Balance 35,253.18
Aggregate Payahead Balance for preceding Distribution Date 31,058.10
Interest Earned on Payahead Balances 138.47
Scheduled Payments due in Collection Period 2,514,222.41
Scheduled Payments collected in Collection Period 2,152,479.95
Aggregate Amount of Realized Losses for preceding Distribution Date 543,186.65
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 262 3,574,000.00
60+ days delinquent 319 4,559,000.00
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 8,133,000.00
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 671,734.76
Receivables during the related Collection Period.
Delinquency Ratio for second preceding Determination Date 7.30%
Delinquency Ratio for third preceding Determination Date 6.52%
Cumulative Defaults for preceding Determination Date 2,733,727.00
Cumulative Net Losses for preceding Determination Date 446,018.00
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) 2,599,820.95
Liquidation Proceeds 450,453.51
Recoveries 5,686.06
Purchase Amounts 0.00
Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00
Investment earnings from Collection Account 0.00
Investment earnings from Payahead Account 0.00
-------------------
Total Distribution Amount 3,055,960.52
Distributable Amount
Principal Distributable Amount
Principal portion of payments collected (non-prepayments) 694,880.57
Prepayments in full allocable to principal 447,341.00
Principal Balance of Liquidated Receivables 993,640.16
Purchase Amounts allocable to principal 0.00
Cram Down Losses 0.00
-------------------
Principal Distributable Amount 2,135,861.73
Class A Principal Distributable Amount
Principal Distributable Amount 2,135,861.73
Times Class A Percentage (95%) 95%
-------------------
2,029,068.64
Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00
-------------------
Class A Principal Distributable Amount 2,029,068.64
Class A Interest Distributable Amount
Beginning of Period Principal Balance of the Certificates 78,547,068.87
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 412,372.11
Class B Principal Distributable Amount
Principal Distributable Amount 2,135,861.73
Times Class B Percentage (5%) 5%
-------------------
Class B Principal Distributable Amount 106,793.09
Class B Coupon Interest Amount
Beginning of Period Principal Balance of the Certificates 4,134,056.27
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 34,967.23
Class B Excess Interest Amount
Total Distribution Amount 3,055,960.52
minus
Class A Principal and Interest Distributable Amount 2,441,440.75
Class A Interest Carrover Shortfall 0.00
Class A Principal Carryover Shortfall 0.00
Class B Coupon Interest 34,967.23
Class B Interest Carryover Shortfall 0.00
Class B Principal Distributable Amount 106,793.09
Class B Principal Carryover Shortfall 0.00
Trustee distributions 1,033.51
Standby Servicer distributions 5,512.08
Servicer distributions 154,435.46
Collateral Agent distributions 1,033.51
Reimbursement Obligations 22,317.75
-------------------
288,427.14
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 5,512.08 3,055,960.52 5,512.08 3,055,960.52
Servicing Fee (2.0%) 137,801.88 3,050,448.44 137,801.88 0.00
Additional Servicing Fee Amounts 16,633.58 2,912,646.56 16,633.58 0.00
(late fees,prepayment charges, etc.)
Unpaid Standby Fee from prior Collection Periods 0.00 2,896,012.98 0.00
Unpaid Servicing Fee from prior Collection Periods 0.00 2,896,012.98 0.00
(ii) Transition Expenses to Standby Servicer 0.00 2,896,012.98 0.00
(iii) Trustee Fee 1,033.51 2,896,012.98 1,033.51
Trustee's out-of-pocket expenses 0.00 2,894,979.47 0.00
Unpaid Trustee Fee from prior Collection Periods 0.00 2,894,979.47 0.00
Unpaid Trustee's out-of-pocket expenses from prior 0.00 2,894,979.47 0.00
Collection Periods
(iv) Collateral Agent Fee 1,033.51 2,894,979.47 1,033.51
Collateral Agent Expenses 0.00 2,893,945.96 0.00
Unpaid Collateral Agent Fee from prior 0.00 2,893,945.96 0.00
Collection Periods
Unpaid Collateral Agent Expenses from prior 0.00 2,893,945.96 0.00
Collection Periods
(v)(A) Class A Interest Distributable Amount - Current Month 412,372.11 2,893,945.96 412,372.11
Prior Month(s) Class A Carryover Shortfall 0.00 2,481,573.85 0.00
Class A Interest Carryover Shortfall 0.00 2,481,573.85 0.00
Interest on Interest Carryover from Prior Months 0.00 2,481,573.85 0.00
Current Month Class A Interest Carryover Shortfall 0.00 2,481,573.85 0.00
Class A Interest Distributable Amount 412,372.11 2,481,573.85 412,372.11
(viii)(A)Class B Coupon Interest - Unadjusted 34,967.23 2,069,201.74 34,967.23
Class B Interest Carryover Shortfall - 0.00 2,034,234.51 0.00
Previous Month(s)
Interest on B Interest Shortfall - Previous Month(s) 0.00 2,034,234.51 0.00
Interest on Interest Carryover from Prior Months 0.00 2,034,234.51 0.00
Current Month Class B Interest Shortfall 0.00 2,034,234.51 0.00
Adjusted Class B Interest Distributable Amount 34,967.23 2,034,234.51 34,967.23
(v)(B) Class A Principal Distributable Amount - Current Month 2,029,068.64 1,999,267.28 1,999,267.28 1,026,891.88
Class A Principal Carryover Shortfall - Previous Month(s) 0.00 0.00 0.00
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 2,029,068.64 0.00 0.00 0.00
(vi) Certificate Insurer Premium 22,317.75 0.00 0.00
Certificate Insurer Premium Supplement 0.00 0.00 0.00
Other Reimbursement Obligations to Certificate Insurer 0.00 0.00 0.00
(vii) Transition Expenses to successor Servicer 0.00 0.00 0.00
Class B Principal Distributable Amount - Current 106,793.09 0.00 0.00
Month Unadjusted
Class B Principal Carryover Shortfall - Previous 0.00 0.00 0.00
Month(s)
Current Month Class B Principal Shortfall 0.00 0.00 0.00
Adjusted Class B Principal Distributable Amount 106,793.09 0.00 0.00
Excess Interest Amount for Deposit in Spread Account 288,427.14 0.00 0.00
Certificate Balance
Class A Beginning of Period Principal Balance 78,547,068.87
Class A Principal Distributions 2,029,068.64
Class A End of Period Principal Balance 76,518,000.23
Class B Beginning of Period Principal Balance 4,134,056.27
Class B Principal Distributable Amount 106,793.09
Class B End of Period Principal Balance BEFORE Spread Account Distributions 4,027,263.18
Withdrawl from Spread Account to Cover B Shortfalls 0.00
Class B End of Period Principal Balance AFTER Spread Account Distributions 4,027,263.18
Class A Deficiency - Interest
(i) Total Distribution Amount Available 3,055,960.52
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 574,386.67
(iii) Prior month(s) carryover shortfalls 0.00
(iv) Interest on Prior month(s) carryover shortfalls 0.00
(v) Interest on Interest of prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO
Amount Remaining for Further Distribution/(Deficiency) 2,481,573.85
Class B Deficiency - Interest
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 2,481,573.85
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 34,967.23
(iii) Prior month(s) carryover shortfalls 0.00
(iv) Interest on Prior month(s) carryover shortfalls 0.00
(v) Interest on Interest of prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) - (v) , there is a Class B Deficiency NO
Amount Remaining for Further Distribution/(Deficiency) 2,446,606.62
Class A Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 2,446,606.62
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 2,029,068.64
(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) 417,537.98
Other Distributions
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 417,537.98
(vi) Certificate Insurer Premium 22,317.75
(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) 395,220.23
Class B Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 395,220.23
(ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 106,793.09
(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) 288,427.14
Withdrawl from Spread Account to B PieceCover Shortfalls 0.00
Adjusted Amount Remaining for Further Distribution/(Deficiency) 288,427.14
Calculations
Performance Measures
Calculation of Delinquency Ratio (Current Period)
Delinquency Amount
Receivables more than 30 days delinquent 8,133,000.00
Purchased receivables more than 30 days delinquent 0.00
-------------------
Total 8,133,000.00
Aggregate Gross Principal Balance as of the close of
business on the last day of the
Collection Period. 97,172,693.91
Delinquency Ratio 8.37%
Calculation of Average Delinquency Ratio
Delinquency Ratio for most recent Determination Date 8.37%
Delinquency Ratio for second preceding Determination Date 7.30%
Delinquency Ratio for third preceding Determination Date 6.52%
-------------------
Average Delinquency Ratio 7.40% 7.40%
Calculation of Cumulative Default Ratio
Default Amount
Principal Balance of Previously Defaulted Receivables 2,733,727.00
Current Period Defaulted Receivables 671,734.76
-------------------
Total 3,405,461.76
Cumulative Defaulted Receivables 3,405,461.76
Original Pool Balance 92,857,811.12
Cumulative Default Ratio 3.67%
Calculation of Cumulative Net Loss Ratio
Calculation of Net Liquidation Losses
Principal Balance plus accrued and unpaid interest of
Liquidated Receivables 993,640.16
Cram Down Losses 0.00
Net Liquidation Proceeds (456,139.57)
-------------------
Net Liquidation Losses 537,500.59
Cumulative Previous Net Losses 446,018.00
-------------------
Cumulative Net Losses 983,518.59
Original Pool Balance 92,857,811.12
Cumulative Net Loss Ratio 1.06%
Additional Pool Information:
Weighted Average Original Term 56.03
Weighted Average Remaining Term 48.34
Weighted Average Annual Percentage Rate 20.56%
Spread Account
Spread Account Cap
10% of Outstanding Certificate Balance 8,054,526.34
15% of Outstanding Certificate Balance 12,081,789.51
Is a Portfolio Performance Test violation continuing? (Y/N) N
Has an Insurance Agreement Event of Default occurred? (Y/N) N
--------------
Cap Amount 8,054,526.34
Spread Account Floor
3% of the Initial Certificate Balance 2,785,734.33
Outstanding Certificate Balance 80,545,263.41
Minimum Floor 100,000.00
--------------
Floor Amount 2,785,734.33
Required Spread Account Amount 8,054,526.34
Beginning of Period Spread Account Balance 8,169,123.09
Spread Account Deposit (Withdrawal) from Current Distributions 288,427.14
Transfer (to) from Cross-Collateralized Spread Accounts 0.00
Required addition to/(eligible withdrawal from) Spread Account (403,023.89)
Earnings on Spread Account Balance 34,202.34
Amount of Spread Account deposit (withdrawal) (437,226.23)
Amount of Withdrawl Allocated to B Piece Shortfalls 0.00
Net Spread Account Withdrawl to Seller (437,226.23)
Ending Spread Account Balance 8,054,526.34
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
Revised
Distribution Date 8/15/97
Collection Period 7/97
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 $2,278,707.98
(b) The amount of the distribution set forth in
paragraph A.1. (a) above in respect of interest $501,070.99
(c) The amount of the distribution set forth in
in paragraph A.1. (a) above in respect of principal $1,777,636.99
(d) The amount of the distribution set forth in
paragraph A.1. (a) above, per $1,000 interest $23.44
(e) The amount of the distribution set forth in
paragraph A.1. (b) above, per $1,000 interest $5.15
(f) The amount of the distribution set forth in
paragraph A.1. (c) above, per $1,000 interest $18.29
(g) The aggregate amount of the distribution to Class B
Certificateholders on the Distribution Date set forth above $140,506.31
(h) The amount of the distribution set forth in
paragraph A.1. (g) above in respect of interest $46,946.47
(i) The amount of the distribution set forth in
in paragraph A.1. (g) above in respect of principal $93,559.84
(j) Scheduled Payments due in such Collection Period $2,846,924.48
(k) Scheduled Payments collected in such
Collection Period $2,696,901.16
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 $96,630,805.66
(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 $94,759,608.83
(c) The Pool factor as of the close of business
on the last day set forth above 0.9806356
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 $176,881.50
The aggregate amount of the Standby Fee
(b) paid to the Standby Servicer with respect to the
Collection Period set forth above. $6,442.05
(c) The amount of the payment set forth in
paragraph B.2. (a) above per $1,000 interest $1.82
(d) The amount of the payment set forth in
paragraph B.2. (b) above per $1,000 interest $0.07
(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 3
Aggregate Purchase Amount $32,438.38
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 $34,921.49
(b) Distributions (to) from Collection Account $1,143.23
for Payaheads
(c) Interest earned on Payahead Balances $361.60
(d) Ending Payahead Account Balance $36,426.32
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 $9,475,960.88
Spread Account Balance $7,506,053.83
(b) The change in the spread account on the Distribution
Date set forth above $732,557.08
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 $26,256.31
7 Losses and Delinquencies.
(a) The aggregate amount of Realized Losses on the
Distribution Date set forth above $159,885.23
(b) The change in the aggregate amount of
Realized Losses from the prior Distribution Date $0.00
(c) The number of Receivables and the aggregate gross amount
scheduled to be paid, including unearned finance and other
charges, for which Obligors are delinquent between 31 and 59
days
Number 279
Aggregate Gross Amount $3,830,000.00
(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 255
Aggregate Gross Amount $3,693,000.00
8 Performance Triggers
(a) Delinquency Ratio 6.63%
(b) Average Delinquency Ratio 5.54%
(c) Cumulative Default Ratio 1.31%
(d) Cumulative Net Loss Ratio 0.16%
(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: 3,406,181.00
Lock Box NSF Items: (80,946.52)
Transfers from (to) Payahead Account: (1,143.23)
Collection Account Interest 11,750.93
Payahead Account Interest 361.60
Total Collection Proceeds: 3,336,203.78
For Distribution Date: 8/15/97
For Determination Date: 8/8/97
For Collection Period: 7/97
Collateral Activity Information
Principal
Beginning Principal Balance 96,630,805.66
Principal portion of payments collected (non-prepayments) 1,074,746.98
Prepayments in full allocable to principal 476,580.00
Collections allocable to principal 1,551,326.98
Partial prepayments relating to various contracts or policies 0.00
Liquidation Proceeds allocable to principal 127,546.24
Purchase Amounts allocable to principal 32,438.38
-------------------
Total Principal 1,711,311.60
Realized Losses 159,885.23
Cram Down Losses 0.00
Ending Principal Balance 94,759,608.83
Interest
Collections allocable to interest 1,622,154.18
Liquidation Proceeds allocable to interest 0.00
Purchase Amounts allocable to interest 0.00
Recoveries from Liquidated Receivables from prior periods 2,738.00
-------------------
Total Interest 1,624,892.18
Certificate Information
Beginning of Period Class A Principal Balance 91,799,265.38
Beginning of Period Class B Principal Balance 4,831,540.28
Miscellaneous Balances
Beginning of Period Spread Account Balance 6,773,496.75
Additional Servicing Fee Amounts (late fees,prepayment charges, etc.) 15,830.16
Aggregate Payahead Balance 36,064.72
Aggregate Payahead Balance for preceding Distribution Date 34,921.49
Interest Earned on Payahead Balances 361.60
Scheduled Payments due in Collection Period 2,846,924.48
Scheduled Payments collected in Collection Period 2,696,901.16
Aggregate Amount of Realized Losses for preceding Distribution Date 159,885.23
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 279 3,830,000.00
60+ days delinquent 255 3,693,000.00
Purchased Receivables Aggregate
Purchase Amt
# of Receivables of Receivables
3 32,438.38
Information for Portfolio Performance Tests
Principal Balance of all Receivables delinquent more than 30 days as 7,523,000.00
of the close of business on the last day of the
related Collection Period.
Principal Balance of all Receivables that became Purchased 32,438.38
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 638,497.88
Receivables during the related Collection Period.
Delinquency Ratio for second preceding Determination Date 5.61%
Delinquency Ratio for third preceding Determination Date 4.37%
Cumulative Defaults for preceding Determination Date 699,365.00
Cumulative Net Losses for preceding Determination Date 8,427.00
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) 3,173,481.16
Liquidation Proceeds 127,546.24
Recoveries 2,738.00
Purchase Amounts 32,438.38
Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00
Investment earnings from Collection Account 0.00
Investment earnings from Payahead Account 0.00
-------------------
Total Distribution Amount 3,336,203.78
Distributable Amount
Principal Distributable Amount
Principal portion of payments collected (non-prepayments) 1,074,746.98
Prepayments in full allocable to principal 476,580.00
Principal Balance of Liquidated Receivables 287,431.47
Purchase Amounts allocable to principal 32,438.38
Cram Down Losses 0.00
-------------------
Principal Distributable Amount 1,871,196.83
Class A Principal Distributable Amount
Principal Distributable Amount 1,871,196.83
Times Class A Percentage (95%) 95%
-------------------
1,777,636.99
Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00
-------------------
Class A Principal Distributable Amount 1,777,636.99
Class A Interest Distributable Amount
Beginning of Period Principal Balance of the Certificates 91,799,265.38
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 501,070.99
Class B Principal Distributable Amount
Principal Distributable Amount 1,871,196.83
Times Class B Percentage (5%) 5%
-------------------
Class B Principal Distributable Amount 93,559.84
Class B Coupon Interest Amount
Beginning of Period Principal Balance of the Certificates 4,831,540.28
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 46,946.47
Class B Excess Interest Amount
Total Distribution Amount 3,336,203.78
minus
Class A Principal and Interest Distributable Amount 2,278,707.98
Class A Interest Carrover Shortfall 0.00
Class A Principal Carryover Shortfall 0.00
Class B Coupon Interest 46,946.47
Class B Interest Carryover Shortfall 0.00
Class B Principal Distributable Amount 93,559.84
Class B Principal Carryover Shortfall 0.00
Trustee distributions 1,207.89
Standby Servicer distributions 6,442.05
Servicer distributions 176,881.50
Collateral Agent distributions 1,207.89
Reimbursement Obligations 26,256.31
-------------------
704,993.85
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 6,442.05 3,336,203.78 6,442.05 3,336,203.78
Servicing Fee (2.0%) 161,051.34 3,329,761.73 161,051.34 0.00
Additional Servicing Fee Amounts 15,830.16 3,168,710.39 15,830.16 0.00
(late fees,prepayment charges, etc.)
Unpaid Standby Fee from prior Collection Periods 0.00 3,152,880.23 0.00
Unpaid Servicing Fee from prior Collection Periods 0.00 3,152,880.23 0.00
(ii) Transition Expenses to Standby Servicer 0.00 3,152,880.23 0.00
(iii) Trustee Fee 1,207.89 3,152,880.23 1,207.89
Trustee's out-of-pocket expenses 0.00 3,151,672.34 0.00
Unpaid Trustee Fee from prior Collection Periods 0.00 3,151,672.34 0.00
Unpaid Trustee's out-of-pocket expenses from prior 0.00 3,151,672.34 0.00
Collection Periods
(iv) Collateral Agent Fee 1,207.89 3,151,672.34 1,207.89
Collateral Agent Expenses 0.00 3,150,464.45 0.00
Unpaid Collateral Agent Fee from prior 0.00 3,150,464.45 0.00
Collection Periods
Unpaid Collateral Agent Expenses from prior 0.00 3,150,464.45 0.00
Collection Periods
(v)(A) Class A Interest Distributable Amount - Current Month 501,070.99 3,150,464.45 501,070.99
Prior Month(s) Class A Carryover Shortfall 0.00 2,649,393.46 0.00
Class A Interest Carryover Shortfall 0.00 2,649,393.46 0.00
Interest on Interest Carryover from Prior Months 0.00 2,649,393.46 0.00
Current Month Class A Interest Carryover Shortfall 0.00 2,649,393.46 0.00
Class A Interest Distributable Amount 501,070.99 2,649,393.46 501,070.99
(viii)(A)Class B Coupon Interest - Unadjusted 46,946.47 2,148,322.47 46,946.47
Class B Interest Carryover Shortfall - Previous Month(s) 0.00 2,101,376.00 0.00
Interest on B Interest Shortfall - Previous Month(s) 0.00 2,101,376.00 0.00
Interest on Interest Carryover from Prior Months 0.00 2,101,376.00 0.00
Current Month Class B Interest Shortfall 0.00 2,101,376.00 0.00
Adjusted Class B Interest Distributable Amount 46,946.47 2,101,376.00 46,946.47
(v) (B) Class A Principal Distributable Amount - Current Month 1,777,636.99 2,054,429.53 1,777,636.99 1,558,566.79
Class A Principal Carryover Shortfall - Previous Month(s) 0.00 276,792.54 0.00
Current Month Class A Principal Shortfall 0.00 276,792.54 0.00
Withdrawl from Spread Account to Cover Shortfall 0.00
Class A Principal Distribution Amount 1,777,636.99 276,792.54 276,792.54 0.00
(vi) Certificate Insurer Premium 26,256.31 0.00 0.00
Certificate Insurer Premium Supplement 0.00 0.00 0.00
Other Reimbursement Obligations to Certificate Insurer 0.00 0.00 0.00
(vii) Transition Expenses to successor Servicer 0.00 0.00 0.00
Class B Principal Distributable Amount - Current 93,559.84 0.00 0.00
Month Unadjusted
Class B Principal Carryover Shortfall - Previous Month(s) 0.00 0.00 0.00
Current Month Class B Principal Shortfall 0.00 0.00 0.00
Adjusted Class B Principal Distributable Amount 93,559.84 0.00 0.00
Excess Interest Amount for Deposit in 704,993.85 0.00 0.00
Spread Account 0.00 0.00
Certificate Balance
Class A Beginning of Period Principal Balance 91,799,265.38
Class A Principal Distributions 1,777,636.99
Class A End of Period Principal Balance 90,021,628.39
Class B Beginning of Period Principal Balance 4,831,540.28
Class B Principal Distributable Amount 93,559.84
Class B End of Period Principal Balance BEFORE Spread Account Distributions 4,737,980.44
Withdrawl from Spread Account to Cover B Shortfalls 0.00
Class B End of Period Principal Balance AFTER Spread Account Distributions 4,737,980.44
Class A Deficiency - Interest
(i) Total Distribution Amount Available 3,336,203.78
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 686,810.32
(iii) Prior month(s) carryover shortfalls 0.00
(iv) Interest on Prior month(s) carryover shortfalls 0.00
(v) Interest on Interest of prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO
Amount Remaining for Further Distribution/(Deficiency) 2,649,393.46
Class B Deficiency - Interest
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 2,649,393.46
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 46,946.47
(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) 2,602,446.99
Class A Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 2,602,446.99
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 1,777,636.99
(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) 824,810.00
Other Distributions
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 824,810.00
(vi) Certificate Insurer Premium 26,256.31
(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) 798,553.69
Class B Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 798,553.69
(ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 93,559.84
(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) 704,993.85
Withdrawl from Spread Account to B PieceCover Shortfalls 0.00
Adjusted Amount Remaining for Further Distribution/(Deficiency) 704,993.85
Calculations
Performance Measures
Calculation of Delinquency Ratio (Current Period)
Delinquency Amount
Receivables more than 30 days delinquent 7,523,000.00
Purchased receivables more than 30 days delinquent 32,438.38
-------------------
Total 7,555,438.38
Aggregate Gross Principal Balance as of the close of
business on the last day of the
Collection Period. 113,993,810.62
Delinquency Ratio 6.63%
Calculation of Average Delinquency Ratio
Delinquency Ratio for most recent Determination Date 6.63%
Delinquency Ratio for second preceding Determination Date 5.61%
Delinquency Ratio for third preceding Determination Date 4.37%
-------------------
Average Delinquency Ratio 5.54% 5.54%
Calculation of Cumulative Default Ratio
Default Amount
Principal Balance of Previously Defaulted Receivables 699,365.00
Current Period Defaulted Receivables 638,497.88
-------------------
Total 1,337,862.88
Cumulative Defaulted Receivables 1,337,862.88
Original Pool Balance 102,327,009.71
Cumulative Default Ratio 1.31%
Calculation of Cumulative Net Loss Ratio
Calculation of Net Liquidation Losses
Principal Balance plus accrued and unpaid interest of
Liquidated Receivables 287,431.47
Cram Down Losses 0.00
Net Liquidation Proceeds (130,284.24)
-------------------
Net Liquidation Losses 157,147.23
Cumulative Previous Net Losses 8,427.00
-------------------
Cumulative Net Losses 165,574.23
Original Pool Balance 102,327,009.71
Cumulative Net Loss Ratio 0.16%
Additional Pool Information:
Weighted Average Original Term 56.35
Weighted Average Remaining Term 51.13
Weighted Average Annual Percentage Rate 20.58%
Spread Account
Spread Account Cap
10% of Outstanding Certificate Balance 9,475,960.88
15% of Outstanding Certificate Balance 14,213,941.32
Is a Portfolio Performance Test violation continuing? (Y/N) N
Has an Insurance Agreement Event of Default occurred? (Y/N) N
--------------
Cap Amount 9,475,960.88
Spread Account Floor
3% of the Initial Certificate Balance 3,069,810.29
Outstanding Certificate Balance 94,759,608.83
Minimum Floor 100,000.00
--------------
Floor Amount 3,069,810.29
Required Spread Account Amount 9,475,960.88
Beginning of Period Spread Account Balance 6,773,496.75
Spread Account Deposit (Withdrawal) from Current Distributions 704,993.85
Transfer (to) from Cross-Collateralized Spread Accounts 0.00
Required addition to/(eligible withdrawal from) Spread Account 1,997,470.28
Earnings on Spread Account Balance 27,563.23
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 7,506,053.83
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
Monthly Certificateholder Statement
CPS Auto Grantor Trust 1997-2
6.65% Asset-Backed Certificates
Revised
Distribution Date 8/15/97
Collection Period 7/97
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 $2,138,211.99
(b) The amount of the distribution set forth in
paragraph A.1. (a) above in respect of interest $618,607.58
(c) The amount of the distribution set forth in
in paragraph A.1. (a) above in respect of principal $1,519,604.41
(d) The amount of the distribution set forth in
paragraph A.1. (a) above, per $1,000 interest $18.86
(e) The amount of the distribution set forth in
paragraph A.1. (b) above, per $1,000 interest $5.46
(f) The amount of the distribution set forth in
paragraph A.1. (c) above, per $1,000 interest $13.40
(g) The aggregate amount of the distribution to Class B
Certificateholders on the Distribution Date set forth above $135,989.24
(h) The amount of the distribution set forth in
paragraph A.1. (g) above in respect of interest $56,010.06
(i) The amount of the distribution set forth in
in paragraph A.1. (g) above in respect of principal $79,979.18
(j) Scheduled Payments due in such Collection Period $3,367,824.26
(k) Scheduled Payments collected in such
Collection Period $3,269,766.53
B. Information Regarding the Performance of the Trust.
1 Pool Balance and Certificate Balances
(a) The aggregate Principal Balance of the
Receivables as of the close of business
on the last day of the preceding Collection Period $117,503,616.09
(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 $115,904,032.50
(c) The Pool factor as of the close of business
on the last day set forth above 0.9863869
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 $207,240.76
The aggregate amount of the Standby Fee
(b) paid to the Standby Servicer with respect to the
Collection Period set forth above. $7,833.57
(c) The amount of the payment set forth in
paragraph B.2. (a) above per $1,000 interest $1.83
(d) The amount of the payment set forth in
paragraph B.2. (b) above per $1,000 interest $0.07
(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 6
Aggregate Purchase Amount $79,577.73
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 $43,561.45
(b) Distributions (to) from Collection Account ($5,298.63)
for Payaheads
(c) Interest earned on Payahead Balances $203.78
(d) Ending Payahead Account Balance $38,466.60
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 $10,431,362.93
Spread Account Balance $6,496,264.64
(b) The change in the spread account on the Distribution
Date set forth above $1,166,670.03
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 $32,115.08
7 Losses and Delinquencies.
(a) The aggregate amount of Realized Losses on the
Distribution Date set forth above $698.74
(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 253
Aggregate Gross Amount $3,554,000.00
(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 107
Aggregate Gross Amount $1,552,000.00
8 Performance Triggers
(a) Delinquency Ratio 3.77%
(b) Average Delinquency Ratio 2.15%
(c) Cumulative Default Ratio 0.14%
(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 1997-2
Statement to Certificateholders
Is there a Deficiency Claim Amount? NO
Deficiency Claim Amount 0.00
Inputs
Gross Collection Proceeds: 3,731,500.74
Lock Box NSF Items: (79,565.76)
Transfers from (to) Payahead Account: 5,298.63
Collection Account Interest 13,154.87
Payahead Account Interest 203.78
Total Collection Proceeds: 3,670,592.26
For Distribution Date: 8/15/97
For Determination Date: 8/8/97
For Collection Period: 7/97
Collateral Activity Information
Principal
Beginning Principal Balance 117,503,616.09
Principal portion of payments collected (non-prepayments) 1,198,059.12
Prepayments in full allocable to principal 321,248.00
Collections allocable to principal 1,519,307.12
Partial prepayments relating to various contracts or policies 0.00
Liquidation Proceeds allocable to principal 0.00
Purchase Amounts allocable to principal 79,577.73
-------------------
Total Principal 1,598,884.85
Realized Losses 698.74
Cram Down Losses 0.00
Ending Principal Balance 115,904,032.50
Interest
Collections allocable to interest 2,071,707.41
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 2,071,707.41
Certificate Information
Beginning of Period Class A Principal Balance 111,628,435.29
Beginning of Period Class B Principal Balance 5,875,180.80
Miscellaneous Balances
Beginning of Period Spread Account Balance 5,329,594.61
Additional Servicing Fee Amounts (late fees,prepayment charges, etc.) 11,401.40
Aggregate Payahead Balance 38,262.82
Aggregate Payahead Balance for preceding Distribution Date 43,561.45
Interest Earned on Payahead Balances 203.78
Scheduled Payments due in Collection Period 3,367,824.26
Scheduled Payments collected in Collection Period 3,269,766.53
Aggregate Amount of Realized Losses for preceding Distribution Date 698.74
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 253 3,554,000.00
60+ days delinquent 107 1,552,000.00
Purchased Receivables Aggregate
Purchase Amt
# of Receivables of Receivables
6 79,577.73
Information for Portfolio Performance Tests
Principal Balance of all Receivables delinquent more than 30 days as 5,106,000.00
of the close of business on the last day of the
related Collection Period.
Principal Balance of all Receivables that became Purchased 79,577.73
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 121,460.37
Receivables during the related Collection Period.
Delinquency Ratio for second preceding Determination Date 2.11%
Delinquency Ratio for third preceding Determination Date 0.56%
Cumulative Defaults for preceding Determination Date 48,810.00
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) 3,591,014.53
Liquidation Proceeds 0.00
Recoveries 0.00
Purchase Amounts 79,577.73
Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00
Investment earnings from Collection Account 0.00
Investment earnings from Payahead Account 0.00
-------------------
Total Distribution Amount 3,670,592.26
Distributable Amount
Principal Distributable Amount
Principal portion of payments collected (non-prepayments) 1,198,059.12
Prepayments in full allocable to principal 321,248.00
Principal Balance of Liquidated Receivables 698.74
Purchase Amounts allocable to principal 79,577.73
Cram Down Losses 0.00
-------------------
Principal Distributable Amount 1,599,583.59
Class A Principal Distributable Amount
Principal Distributable Amount 1,599,583.59
Times Class A Percentage (95%) 95%
-------------------
1,519,604.41
Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00
-------------------
Class A Principal Distributable Amount 1,519,604.41
Class A Interest Distributable Amount
Beginning of Period Principal Balance of the Certificates 111,628,435.29
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 618,607.58
Class B Principal Distributable Amount
Principal Distributable Amount 1,599,583.59
Times Class B Percentage (5%) 5%
-------------------
Class B Principal Distributable Amount 79,979.18
Class B Coupon Interest Amount
Beginning of Period Principal Balance of the Certificates 5,875,180.80
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 56,010.06
Class B Excess Interest Amount
Total Distribution Amount 3,670,592.26
minus
Class A Principal and Interest Distributable Amount 2,138,211.99
Class A Interest Carrover Shortfall 0.00
Class A Principal Carryover Shortfall 0.00
Class B Coupon Interest 56,010.06
Class B Interest Carryover Shortfall 0.00
Class B Principal Distributable Amount 79,979.18
Class B Principal Carryover Shortfall 0.00
Trustee distributions 1,468.80
Standby Servicer distributions 7,833.57
Servicer distributions 207,240.76
Collateral Agent distributions 1,468.80
Reimbursement Obligations 32,115.08
-------------------
1,146,264.02
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 7,833.57 3,670,592.26 7,833.57 3,670,592.26
Servicing Fee (2.0%) 195,839.36 3,662,758.69 195,839.36 0.00
Additional Servicing Fee Amounts 11,401.40 3,466,919.33 11,401.40 0.00
(late fees,prepayment charges, etc.)
Unpaid Standby Fee from prior Collection Periods 0.00 3,455,517.93 0.00
Unpaid Servicing Fee from prior Collection Periods 0.00 3,455,517.93 0.00
(ii) Transition Expenses to Standby Servicer 0.00 3,455,517.93 0.00
(iii) Trustee Fee 1,468.80 3,455,517.93 1,468.80
Trustee's out-of-pocket expenses 0.00 3,454,049.13 0.00
Unpaid Trustee Fee from prior Collection Periods 0.00 3,454,049.13 0.00
Unpaid Trustee's out-of-pocket expenses from prior 0.00 3,454,049.13 0.00
Collection Periods
(iv) Collateral Agent Fee 1,468.80 3,454,049.13 1,468.80
Collateral Agent Expenses 0.00 3,452,580.33 0.00
Unpaid Collateral Agent Fee from prior 0.00 3,452,580.33 0.00
Collection Periods
Unpaid Collateral Agent Expenses from prior 0.00 3,452,580.33 0.00
Collection Periods
(v) (A) Class A Interest Distributable Amount - Current Month 618,607.58 3,452,580.33 618,607.58
Prior Month(s) Class A Carryover Shortfall 0.00 2,833,972.75 0.00
Class A Interest Carryover Shortfall 0.00 2,833,972.75 0.00
Interest on Interest Carryover from Prior Months 0.00 2,833,972.75 0.00
Current Month Class A Interest Carryover Shortfall 0.00 2,833,972.75 0.00
Class A Interest Distributable Amount 618,607.58 2,833,972.75 618,607.58
(viii) (AClass B Coupon Interest - Unadjusted 56,010.06 2,215,365.17 56,010.06
Class B Interest Carryover Shortfall - Previous Month(s) 0.00 2,159,355.11 0.00
Interest on B Interest Shortfall - Previous Month(s) 0.00 2,159,355.11 0.00
Interest on Interest Carryover from Prior Months 0.00 2,159,355.11 0.00
Current Month Class B Interest Shortfall 0.00 2,159,355.11 0.00
Adjusted Class B Interest Distributable Amount 56,010.06 2,159,355.11 56,010.06
(v) (B) Class A Principal Distributable Amount - Current Month 1,519,604.41 2,103,345.05 1,519,604.41 2,150,987.85
Class A Principal Carryover Shortfall - Previous Month(s) 0.00 583,740.64 0.00
Current Month Class A Principal Shortfall 0.00 583,740.64 0.00
Withdrawl from Spread Account to Cover Shortfall 0.00
Class A Principal Distribution Amount 1,519,604.41 583,740.64 583,740.64 631,383.44
(vi) Certificate Insurer Premium 32,115.08 0.00 0.00
Certificate Insurer Premium Supplement 0.00 0.00 0.00
Other Reimbursement Obligations to Certificate Insurer 0.00 0.00 0.00
(vii) Transition Expenses to successor Servicer 0.00 0.00 0.00
Class B Principal Distributable Amount - Current Month 79,979.18 0.00 0.00
Unadjusted
Class B Principal Carryover Shortfall - Previous Month(s) 0.00 0.00 0.00
Current Month Class B Principal Shortfall 0.00 0.00 0.00
Adjusted Class B Principal Distributable Amount 79,979.18 0.00 0.00
Excess Interest (Shortage) Amount for Deposit to 1,146,264.02 0.00 0.00
(withdrawl from) Spread Account 0.00 0.00
Certificate Balance
Class A Beginning of Period Principal Balance 111,628,435.29
Class A Principal Distributions 1,519,604.41
Class A End of Period Principal Balance 110,108,830.88
Class B Beginning of Period Principal Balance 5,875,180.80
Class B Principal Distributable Amount 79,979.18
Class B End of Period Principal Balance BEFORE Spread Account Distributions 5,795,201.62
Withdrawl from Spread Account to Cover B Shortfalls 0.00
Class B End of Period Principal Balance AFTER Spread Account Distributions 5,795,201.62
Class A Deficiency - Interest
(i) Total Distribution Amount Available 3,670,592.26
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 836,619.51
(iii) Prior month(s) carryover shortfalls 0.00
(iv) Interest on Prior month(s) carryover shortfalls 0.00
(v) Interest on Interest of prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO
Amount Remaining for Further Distribution/(Deficiency) 2,833,972.75
Class B Deficiency - Interest
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 2,833,972.75
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 56,010.06
(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) 2,777,962.69
Class A Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 2,777,962.69
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 1,519,604.41
(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) 1,258,358.28
Other Distributions
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 1,258,358.28
(vi) Certificate Insurer Premium 32,115.08
(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) 1,226,243.20
Class B Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 1,226,243.20
(ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 79,979.18
(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) 1,146,264.02
Withdrawl from Spread Account to B PieceCover Shortfalls 0.00
Adjusted Amount Remaining for Further Distribution/(Deficiency) 1,146,264.02
Calculations
Performance Measures
Calculation of Delinquency Ratio (Current Period)
Delinquency Amount
Receivables more than 30 days delinquent 5,106,000.00
Purchased receivables more than 30 days delinquent 79,577.73
-------------------
Total 5,185,577.73
Aggregate Gross Principal Balance as of the close of
business on the last day of the
Collection Period. 137,591,726.67
Delinquency Ratio 3.77%
Calculation of Average Delinquency Ratio
Delinquency Ratio for most recent Determination Date 3.77%
Delinquency Ratio for second preceding Determination Date 2.11%
Delinquency Ratio for third preceding Determination Date 0.56%
-------------------
Average Delinquency Ratio 2.15% 2.15%
Calculation of Cumulative Default Ratio
Default Amount
Principal Balance of Previously Defaulted Receivables 48,810.00
Current Period Defaulted Receivables 121,460.37
-------------------
Total 170,270.37
Cumulative Defaulted Receivables 170,270.37
Original Pool Balance 119,362,032.46
Cumulative Default Ratio 0.14%
Calculation of Cumulative Net Loss Ratio
Calculation of Net Liquidation Losses
Principal Balance plus accrued and unpaid interest of
Liquidated Receivables 698.74
Cram Down Losses 0.00
Net Liquidation Proceeds 0.00
-------------------
Net Liquidation Losses 698.74
Cumulative Previous Net Losses 0.00
-------------------
Cumulative Net Losses 698.74
Original Pool Balance 119,362,032.46
Cumulative Net Loss Ratio 0.00%
Additional Pool Information:
Weighted Average Original Term 56.35
Weighted Average Remaining Term 53.62
Weighted Average Annual Percentage Rate 20.53%
Spread Account
Spread Account Cap
9% of Outstanding Certificate Balance 10,431,362.93
15% of Outstanding Certificate Balance 17,385,604.88
Is a Portfolio Performance Test violation continuing? (Y/N) N
Has an Insurance Agreement Event of Default occurred? (Y/N) N
--------------
Cap Amount 10,431,362.93
Spread Account Floor
3% of the Initial Certificate Balance 3,580,860.93
Outstanding Certificate Balance 115,904,032.50
Minimum Floor 100,000.00
--------------
Floor Amount 3,580,860.93
Required Spread Account Amount 10,431,362.93
Beginning of Period Spread Account Balance 5,329,594.61
Spread Account Deposit (Withdrawal) from Current Distributions 1,146,264.02
Transfer (to) from Cross-Collateralized Spread Accounts 0.00
Required addition to/(eligible withdrawal from) Spread Account 3,955,504.30
Earnings on Spread Account Balance 20,406.01
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 6,496,264.64
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