Monthly Certificateholder Statement
FASCO Auto Trust 1996-1
6.65% Class A Asset-Backed Certificates
10.00% Class B Asset-Backed Certificates
Distribution Date 1/15/97
Collection Period 12/96
Under the Pooling and Servicing Agreement dated as of June 28, 1996 (the
"Agreement") by and among Financial Asset Securities Corp., Consumer Portfolio
Services, Inc. as Servicer, and Norwest Bank Minnesota, National Association, as
Trustee and as Collateral Agent, the Servicer is required to prepare certain
information each month regarding current distributions to Certificateholders and
the performance of the Trust during the previous month. The information which is
required to be prepared with respect to the Distribution Date and Collection
Period listed above is set forth below.
Certain of the information is presented on the basis of an original
principal amount of $1,000 per Certificate, and certain other information is
presented based upon the aggregate amounts for the Trust as a whole.
A. Information Regarding the Current Monthly Distribution:
1 Certificates.
(a) The aggregate amount of the distribution
to Class A Certificateholders on the Distribution
Date set forth above $2,130,799.07
(b) The amount of the distribution set forth in
paragraph A.1. (a) above in respect of interest $424,615.09
(c) The amount of the distribution set forth in
in paragraph A.1. (a) above in respect of principal $1,706,183.98
(d) The amount of the distribution set forth in
paragraph A.1. (a) above, per $1,000 interest $25.23
(e) The amount of the distribution set forth in
paragraph A.1. (b) above, per $1,000 interest $5.03
(f) The amount of the distribution set forth in
paragraph A.1. (c) above, per $1,000 interest $20.20
(g) The aggregate amount of the distribution to Class B
Certificateholders on the Distribution Date set forth above
(given to the Collateral Agent for deposit into the Spread Account) $123,405.42
(h) The amount of the distribution set forth in
paragraph A.1. (g) above in respect of interest $33,606.26
(i) The amount of the distribution set forth in
in paragraph A.1. (g) above in respect of principal $89,799.16
(j) Scheduled Payments due in such Collection Period $2,495,244.53
(k) Scheduled Payments collected in such
Collection Period $2,058,192.89
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 $80,655,023.84
(b) The Class A Certificates Balance as of the close of business
on the last day set forth above, after giving effect to
payments
allocated to principal in paragraph A.1.(c) above $74,916,088.67
(c) The Class B Certificates Balance as of the close of business
on the last day set forth above, after giving effect to
payments
allocated to principal in paragraph A.1.(c) above $3,942,952.03
(d) The Pool factor as of the close of business
on the last day set forth above 0.8870458
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 $150,145.52
(b) The aggregate amount of the Standby Fee
paid to the Standby Servicer with respect to the
Collection Period set forth above. $5,377.00
(c) The amount of the payment set forth in
paragraph B.2. (a) above per $1,000 interest $1.78
(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 4
Aggregate Purchase Amount $36,286.33
3 Payment Shortfalls.
(a) The amount of the Class A Interest Carryover shortfall
after giving effect to the payments set forth in
paragraph A.1. (b) above $0.00
(b) The amount of the Class A Principal Carryover Shortfall
after giving effect to the payment set forth in
paragraph A.1. (c) above $0.00
(c) The amount of the Class B Interest Carryover shortfall after
giving effect to the payments set forth in
paragraph A.1. (h) above $0.00
(d) The amount of the Class B Principal Carryover Shortfall
after giving effect to the payment set forth in
paragraph A.1. (i) above $0.00
4 Payahead Account.
(a) The aggregate Payahead Balance on the
prior Distribution Date $19,140.06
(b) Distributions (to) from Collection Account $6,092.70
for Payaheads
(c) Interest earned on Payahead Balances $112.78
(d) Ending Payahead Account Balance $25,345.54
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 $7,885,904.07
Spread Account Balance $7,196,650.37
(b) The change in the spread account on the Distribution
Date set forth above $274,468.63
6 Policy
(a) The amount paid to the Certificateholders
under the Policy for such Distribution Date $0.00
(b) The amount distributable to the Certificate
Insurer on such Distribution Date $21,850.53
7 Losses and Delinquencies.
(a) The aggregate amount of Realized Losses on the
Distribution Date set forth above $322,868.22
(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 287
Aggregate Gross Amount $3,957,000.00
(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 315
Aggregate Gross Amount $4,317,000.00
8 Performance Triggers
(a) Delinquency Ratio 8.72%
(b) Average Delinquency Ratio 7.91%
(c) Cumulative Default Ratio 4.51%
(d) Cumulative Net Loss Ratio 0.71%
(e) Is a Portfolio Performance Test violation continuing? No
(f) Has an Insurance Agreement Event of Default occurred? No
CPS Auto Grantor Trust 1995-4
Statement to Certificateholders
Is there a Deficiency Claim Amount? NO
Deficiency Claim Amount 0.00
Is there a Class B Deficiency? NO
Class B Deficiency 0.00
Cash Available this month to cover Class B Deficiency 0.00
Inputs
Gross Collection Proceeds: 2,747,111.25
Lock Box NSF Items: (67,984.01)
Transfers from (to) Payahead Account: (6,092.70)
Collection Account Interest 10,937.81
Payahead Account Interest 112.78
Total Collection Proceeds: 2,684,085.13
For Distribution Date: 1/15/97
For Determination Date: 1/7/97
For Collection Period: 12/96
Collateral Activity Information
Principal
Beginning Principal Balance 80,655,023.84
Principal portion of payments collected (non-prepayments) 862,865.45
Prepayments in full allocable to principal 318,953.00
Collections allocable to principal 1,181,818.45
Partial prepayments relating to various contracts or policies 0.00
Liquidation Proceeds allocable to principal 255,010.14
Purchase Amounts allocable to principal 36,286.33
-------------------
Total Principal 1,473,114.92
Realized Losses 322,868.22
Cram Down Losses 0.00
Ending Principal Balance 78,859,040.70
Interest
Collections allocable to interest 1,195,327.44
Liquidation Proceeds allocable to interest 0.00
Purchase Amounts allocable to interest 0.00
Recoveries from Liquidated Receivables from prior periods 4,592.18
-------------------
Total Interest 1,199,919.62
Certificate Information
Beginning of Period Class A Principal Balance 76,622,272.65
Beginning of Period Class B Principal Balance 4,032,751.19
Miscellaneous Balances
Beginning of Period Spread Account Balance 6,922,181.74
Additional Servicing Fee Amounts (late fees,prepayment charges, etc.) 15,720.48
Aggregate Payahead Balance 25,232.76
Aggregate Payahead Balance for preceding Distribution Date 19,140.06
Interest Earned on Payahead Balances 112.78
Scheduled Payments due in Collection Period 2,495,244.53
Scheduled Payments collected in Collection Period 2,058,192.89
Aggregate Amount of Realized Losses for preceding Distribution Date 322,868.22
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 287 3,957,000.00
60+ days delinquent 315 4,317,000.00
Purchased Receivables Aggregate
Purchase Amt
# of Receivables of Receivables
---------------- --------------
4 36,286.33
Information for Portfolio Performance Tests
Principal Balance of all Receivables delinquent more than 30 days as
of the close of business on the last day of the
related Collection Period. 8,274,000.00
Principal Balance of all Receivables that became Purchased
Receivables as of the close of business on the
last day of the related Collection Period and that were
delinquent 30 days or more. 36,286.33
Principal Balance of all Receivables that became Defaulted
Receivables during the related Collection Period. 768,752.84
Delinquency Ratio for second preceding Determination Date 8.00%
Delinquency Ratio for third preceding Determination Date 7.02%
Cumulative Defaults for preceding Determination Date 3,242,812.00
Cumulative Net Losses for preceding Determination Date 311,463.00
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) 2,377,145.89
Liquidation Proceeds 255,010.14
Recoveries 4,592.18
Purchase Amounts 36,286.33
Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00
Investment earnings from Collection Account 10,937.81
Investment earnings from Payahead Account 112.78
-------------------
Total Distribution Amount 2,684,085.13
Distributable Amount
Principal Distributable Amount
Principal portion of payments collected (non-prepayments) 862,865.45
Prepayments in full allocable to principal 318,953.00
Principal Balance of Liquidated Receivables 577,878.36
Purchase Amounts allocable to principal 36,286.33
Cram Down Losses 0.00
-------------------
Principal Distributable Amount 1,795,983.14
Class A Principal Distributable Amount
Principal Distributable Amount 1,795,983.14
Times Class A Percentage (95%) 95%
-------------------
1,706,183.98
Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00
-------------------
Class A Principal Distributable Amount 1,706,183.98
Class A Interest Distributable Amount
Beginning of Period Principal Balance of the Certificates 76,622,272.65
Multiplied by Certificate Pass-Through Rate 6.65%
Multiplied by 30/360, or for the first Distribution Date, by 17/360 0.0833333
-------------------
Class A Interest Distributable Amount 424,615.09
Class B Principal Distributable Amount
Principal Distributable Amount 1,795,983.14
Times Class B Percentage (5%) 5%
-------------------
Class B Principal Distributable Amount 89,799.16
Class B Interest Distributable Amount
Beginning of Period Principal Balance of the Certificates 4,032,751.19
Multiplied by Certificate Pass-Through Rate 10.00%
Multiplied by 30/360, or for the first Distribution Date, by 17/360 0.0833333
-------------------
Class B Coupon Interest Amount 33,606.26
Carryover Shortfalls from Prior Periods
Class B Principal Carryover Shortfall from previous period 0.00
Interest on Class B Principal Carryover Shortfall 0.00
-------------------
0.00
Class B Interest Carryover Shortfall from previous period 0.00
Interest on Class B Interest Carryover Shortfall 0.00
-------------------
0.00
Class A Principal Carryover Shortfall from previous period 0.00
Interest on Class A Principal Carryover Shortfall 0.00
-------------------
0.00
Class A Interest Carryover Shortfall from previous period 0.00
Interest on Class A Interest Carryover Shortfall 0.00
-------------------
0.00
Calculations
Distributions (Pursuant to Section 4.6(c) of the Pooling and Servicing
Agreement):
Use Source act distributed Source
--- ------ --------------- ------
(i) Standby Fee 5,377.00 2,684,085.13 5,377.00 2,684,085.13
Servicing Fee (2.0%) 134,425.04 2,678,708.13 134,425.04 0.00
Additional Servicing Fee Amounts (late fees,prepayment charges, etc.) 15,720.48 2,544,283.09 15,720.48 0.00
Unpaid Standby Fee from prior Collection Periods 0.00 2,528,562.61 0.00
Unpaid Servicing Fee from prior Collection Periods 0.00 2,528,562.61 0.00
(ii) Transition Expenses to Standby Servicer 0.00 2,528,562.61 0.00
(iii) Trustee Fee 1,008.19 2,528,562.61 1,008.19
Trustee's out-of-pocket expenses 0.00 2,527,554.42 0.00
Unpaid Trustee Fee from prior Collection Periods 0.00 2,527,554.42 0.00
Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 2,527,554.42 0.00
(iv) Collateral Agent Fee 1,008.19 2,527,554.42 1,008.19
Collateral Agent Expenses 0.00 2,526,546.23 0.00
Unpaid Collateral Agent Fee from prior Collection Periods 0.00 2,526,546.23 0.00
Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 2,526,546.23 0.00
(v) Class A Interest Distributable Amount 424,615.09 2,526,546.23 424,615.09
Class A Interest Carryover Shortfall 0.00 2,101,931.14 0.00
(vi) Class B Coupon Interest 33,606.26 2,101,931.14 33,606.26
Class B Carryover Interest 0.00 2,068,324.88 0.00
(vii) Class A Principal Distributable Amount 1,706,183.98 2,068,324.88 1,706,183.98 977,901.15
Class A Principal Carryover Shortfall 0.00 362,140.90 0.00 977,901.15
(viii) Certificate Insurer Premium 21,850.53 362,140.90 21,850.53
Certificate Insurer Premium Supplement 0.00 340,290.37 0.00
Other Reimbursement Obligations to Certificate Insurer 0.00 340,290.37 0.00
(ix) Transition Expenses to successor Servicer 0.00 340,290.37 0.00
(x) Class B Principal Distributable Amount - Unadjusted 89,799.16 340,290.37 89,799.16
Current Month Class B Principal Carryover Shortfall 0.00 250,491.21 0.00
Class B Principal Carryover Shortfall - Previous Month(s) 0.00 250,491.21 0.00
Adjusted Class B Principal Distributable Amount 89,799.16 250,491.21 89,799.16
(xi) Remaining amounts to Collateral Agent for deposit in Spread Account 250,491.21 160,692.06 160,692.06
0.00
Certificate Balance
Class A Beginning of Period Principal Balance 76,622,272.65
Class A Principal Distributions 1,706,183.98
Class A End of Period Principal Balance 74,916,088.67
Class B Beginning of Period Principal Balance 4,032,751.19
Class B Principal Distributable Amount 89,799.16
Class B End of Period Principal Balance 3,942,952.03
Carryover Shortfalls After Current Distributions
Class B principal Carrryover Shortfall
the excess if any, of
the sum of
Class B Principal Distributable Amount 89,799.16
Class B Principal Carryover Shortfall 0.00
over
amount actually distributed as principal 89,799.16
-------------------
0.00
Class B Interest Carrryover Shortfall
the excess if any, of
the sum of
Class B Coupon Interest Amount 33,606.26
Class B Interest Carryover Shortfall 0.00
over
amount actually distributed as interest 33,606.26
-------------------
0.00
Class A principal Carrryover Shortfall
the excess if any, of
the sum of
Class A Principal Distributable Amount 1,706,183.98
Class A Principal Carryover Shortfall 0.00
over
amount actually distributed as principal 1,706,183.98
-------------------
0.00
Class A Interest Carrryover Shortfall
the excess if any, of
the sum of
Class A Interest Distributable Amount 424,615.09
Class A Interest Carryover Shortfall 0.00
over
amount actually distributed as interest 424,615.09
-------------------
0.00
Deficiency Claim Amount
(i) Total Distribution Amount 2,684,085.13
(ii) Amounts payable pursuant to Section 4.6(c) (i) - (ix) 2,343,794.76
If (i) is less than (ii), there is a Deficiency Claim Amount NO
Deficiency Claim Amount 0.00
Class B Deficiency
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 123,405.42
(ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 123,405.42
If (i) is less than (ii), there is a Class B Deficiency NO
Class B Deficiency 0.00
Calculations
Performance Measures
Calculation of Delinquency Ratio (Current Period)
Delinquency Amount
Receivables more than 30 days delinquent 8,274,000.00
Purchased receivables more than 30 days delinquent 36,286.33
-------------------
Total 8,310,286.33
Aggregate Gross Principal Balance as of the close of
business on the last day of the
Collection Period. 95,328,603.66
Delinquency Ratio 8.72%
Calculation of Average Delinquency Ratio
Delinquency Ratio for most recent Determination Date 8.72%
Delinquency Ratio for second preceding Determination Date 8.00%
Delinquency Ratio for third preceding Determination Date 7.02%
-------------------
Average Delinquency Ratio 7.91% 7.91%
Calculation of Cumulative Default Ratio
Default Amount
Principal Balance of Previously Defaulted Receivables 3,242,812.00
Current Period Defaulted Receivables 768,752.84
-------------------
Total 4,011,564.84
Cumulative Defaulted Receivables 4,011,564.84
Original Pool Balance 88,900,750.37
Cumulative Default Ratio 4.51%
Calculation of Cumulative Net Loss Ratio
Calculation of Net Liquidation Losses
Principal Balance plus accrued and unpaid interest of
Liquidated Receivables 577,878.36
Cram Down Losses 0.00
Net Liquidation Proceeds (259,602.32)
-------------------
Net Liquidation Losses 318,276.04
Cumulative Previous Net Losses 311,463.00
-------------------
Cumulative Net Losses 629,739.04
Original Pool Balance 88,900,750.37
Cumulative Net Loss Ratio 0.71%
Spread Account
Spread Account Cap
10% of Outstanding Certificate Balance 7,885,904.07
15% of Outstanding Certificate Balance 11,828,856.11
Is a Portfolio Performance Test violation continuing? (Y/N) N
Has an Insurance Agreement Event of Default occurred? (Y/N) N
---------------
Cap Amount 7,885,904.07
Spread Account Floor
3.5% of the Initial Certificate Balance 3,111,526.26
Outstanding Certificate Balance 78,859,040.70
Minimum Floor 100,000.00
---------------
Floor Amount 3,111,526.26
Required Spread Account Amount 7,885,904.07
Beginning of Period Spread Account Balance 6,922,181.74
Spread Account Deposit (Withdrawal) from Current Distributions 250,491.21
Transfer (to) from Cross-Collateralized Spread Accounts 0.00
Required addition to/(eligible withdrawal from) Spread Account 713,231.12
Earnings on Spread Account Balance 23,977.42
Amount of Spread Account deposit (withdrawal) 0.00
Ending Spread Account Balance 7,196,650.37
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 - Chief Financial Officer
-------------------------------------------------------
Current month excess servicing fee #REF!
Monthly Certificateholder Statement
CPS Auto Grantor Trust 1996-2
6.70% Asset-Backed Certificates
11.30% Class B Asset-Backed Certificates
Distribution Date 1/15/97
Collection Period 12/96
Under the Pooling and Servicing Agreement dated as of September 19, 1996
(the "Agreement") by and among CPS Receivables Corp., Consumer Portfolio
Services, Inc. as Servicer, and Norwest Bank Minnesota, National Association, as
Trustee and as Collateral Agent, the Servicer is required to prepare certain
information each month regarding current distributions to Certificateholders and
the performance of the Trust during the previous month. The information which is
required to be prepared with respect to the Distribution Date and Collection
Period listed above is set forth below.
Certain of the information is presented on the basis of an original
principal amount of $1,000 per Certificate, and certain other information is
presented based upon the aggregate amounts for the Trust as a whole.
A. Information Regarding the Current Monthly Distribution:
1 Certificates.
(a) The aggregate amount of the distribution
to Class A Certificateholders on the Distribution
Date set forth above $1,878,620.30
(b) The amount of the distribution set forth in
paragraph A.1. (a) above in respect of interest $471,443.40
(c) The amount of the distribution set forth in
in paragraph A.1. (a) above in respect of principal $1,407,176.90
(d) The amount of the distribution set forth in
paragraph A.1. (a) above, per $1,000 interest $41.74
(e) The amount of the distribution set forth in
paragraph A.1. (b) above, per $1,000 interest $10.47
(f) The amount of the distribution set forth in
paragraph A.1. (c) above, per $1,000 interest $31.26
(g) The aggregate amount of the distribution to Class B
Certificateholders on the Distribution Date set forth above $115,910.41
(h) The amount of the distribution set forth in
paragraph A.1. (g) above in respect of interest $41,848.47
(i) The amount of the distribution set forth in
in paragraph A.1. (g) above in respect of principal $74,061.94
(j) Scheduled Payments due in such Collection Period $2,617,472.58
(k) Scheduled Payments collected in such
Collection Period $2,459,523.29
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 $88,881,709.43
(b) The Certificates Balance as of the close of business on the
last day set forth above, after giving effect to payments
allocated to principal in paragraph A.1.(c) above $83,030,447.05
(c) The Pool factor as of the close of business
on the last day set forth above 0.9486718
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 $160,713.13
The aggregate amount of the Standby Fee
(b) paid to the Standby Servicer with respect to the
Collection Period set forth above. $5,925.45
(c) The amount of the payment set forth in
paragraph B.2. (a) above per $1,000 interest $1.84
(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 16
Aggregate Purchase Amount $208,943.33
3 Payment Shortfalls.
(a) The amount of the Interest Carryover shortfall
after giving effect to the payments set forth in
paragraph A.1. (b) above $0.00
(b) The amount of the Principal Carryover Shortfall after giving
effect to the payment set forth in
paragraph A.1. (c) above $0.00
4 Payahead Account.
(a) The aggregate Payahead Balance on the
prior Distribution Date $26,940.49
(b) Distributions (to) from Collection Account $4,966.27
for Payaheads
(c) Interest earned on Payahead Balances $167.14
(d) Ending Payahead Account Balance $32,073.90
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 $8,740,047.06
Spread Account Balance $5,851,068.76
(b) The change in the spread account on the Distribution
Date set forth above $772,267.62
6 Policy
(a) The amount paid to the Certificateholders
under the Policy for such Distribution Date $0.00
(b) The amount distributable to the Certificate
Insurer on such Distribution Date $24,217.21
7 Losses and Delinquencies.
(a) The aggregate amount of Realized Losses on the
Distribution Date set forth above $1,563.00
(b) The change in the aggregate amount of
Realized Losses from the prior Distribution Date $0.00
(c) The number of Receivables and the aggregate gross amount
scheduled to be paid, including unearned finance and other
charges, for which Obligors are delinquent between 31 and 59
days
Number 281
Aggregate Gross Amount $3,919,000.00
(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 176
Aggregate Gross Amount $2,763,000.00
8 Performance Triggers
(a) Delinquency Ratio 6.40%
(b) Average Delinquency Ratio 4.59%
(c) Cumulative Default Ratio 2.06%
(d) Cumulative Net Loss Ratio 0.01%
(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: 3,049,160.92
Lock Box NSF Items: (110,628.75)
Transfers from (to) Payahead Account: (4,966.27)
Collection Account Interest 10,878.48
Payahead Account Interest 167.14
Total Collection Proceeds: 2,944,611.52
For Distribution Date: 1/15/97
For Determination Date: 1/7/97
For Collection Period: 12/96
Collateral Activity Information
Principal
Beginning Principal Balance 88,881,709.43
Principal portion of payments collected (non-prepayments) 1,005,742.51
Prepayments in full allocable to principal 257,490.00
Collections allocable to principal 1,263,232.51
Partial prepayments relating to various contracts or policies 0.00
Liquidation Proceeds allocable to principal 7,500.00
Purchase Amounts allocable to principal 208,943.33
Total Principal 1,479,675.84
Realized Losses 1,563.00
Cram Down Losses 0.00
Ending Principal Balance 87,400,470.59
Interest
Collections allocable to interest 1,453,780.78
Liquidation Proceeds allocable to interest 0.00
Purchase Amounts allocable to interest 0.00
Recoveries from Liquidated Receivables from prior periods 109.28
-------------------
Total Interest 1,453,890.06
Certificate Information
Beginning of Period Class A Principal Balance 84,437,623.95
Beginning of Period Class B Principal Balance 4,444,085.48
Miscellaneous Balances
Beginning of Period Spread Account Balance 5,078,801.14
Additional Servicing Fee Amounts (late fees,prepayment charges, etc.) 12,576.95
Aggregate Payahead Balance 31,906.76
Aggregate Payahead Balance for preceding Distribution Date 26,940.49
Interest Earned on Payahead Balances 167.14
Scheduled Payments due in Collection Period 2,617,472.58
Scheduled Payments collected in Collection Period 2,459,523.29
Aggregate Amount of Realized Losses for preceding Distribution Date 1,563.00
Miscellaneous Current Expenses
Trustee's out-of-pocket expenses 0.00
Collateral Agent's expenses 0.00
Transition Expenses to Standby Servicer 0.00
Transition Expenses to successor Servicer 0.00
Other Reimbursement Obligations to Certificate Insurer (non-Premium) 0.00
Miscellaneous Unpaid Amounts from Prior Collection Periods
Unpaid Standby Fee from prior Collection Periods 0.00
Unpaid Servicing Fee from prior Collection Periods 0.00
Unpaid Trustee Fee from prior Collection Periods 0.00
Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00
Unpaid Collateral Agent Fee from prior Collection Periods 0.00
Unpaid Collateral Agent Expenses from prior Collection Periods 0.00
Delinquency Information Aggregate Gross
Amount
# of Receivables of Receivables
---------------- --------------
31 - 59 days delinquent 281 3,919,000.00
60+ days delinquent 176 2,763,000.00
Purchased Receivables Aggregate
Purchase Amt
# of Receivables of Receivables
---------------- --------------
16 208,943.33
Information for Portfolio Performance Tests
Principal Balance of all Receivables delinquent more than 30 days as
of the close of business on the last day of the
related Collection Period. 6,682,000.00
Principal Balance of all Receivables that became Purchased
Receivables as of the close of business on the
last day of the related Collection Period and that were
delinquent 30 days or more. 208,943.33
Principal Balance of all Receivables that became Defaulted
Receivables during the related Collection Period. 213,549.25
Delinquency Ratio for second preceding Determination Date 4.49%
Delinquency Ratio for third preceding Determination Date 2.87%
Cumulative Defaults for preceding Determination Date 689,302.00
Cumulative Net Losses for preceding Determination Date 3,837.00
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) 2,717,013.29
Liquidation Proceeds 7,500.00
Recoveries 109.28
Purchase Amounts 208,943.33
Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00
Investment earnings from Collection Account 10,878.48
Investment earnings from Payahead Account 167.14
-------------------
Total Distribution Amount 2,944,611.52
Distributable Amount
Principal Distributable Amount
Principal portion of payments collected (non-prepayments) 1,005,742.51
Prepayments in full allocable to principal 257,490.00
Principal Balance of Liquidated Receivables 9,063.00
Purchase Amounts allocable to principal 208,943.33
Cram Down Losses 0.00
-------------------
Principal Distributable Amount 1,481,238.84
Class A Principal Distributable Amount
Principal Distributable Amount 1,481,238.84
Times Class A Percentage (95%) 95%
-------------------
1,407,176.90
Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00
-------------------
Class A Principal Distributable Amount 1,407,176.90
Class A Interest Distributable Amount
Beginning of Period Principal Balance of the Certificates 84,437,623.95
Multiplied by Certificate Pass-Through Rate 6.70%
Multiplied by 30/360, or for the first Distribution Date, by 19/360 0.0833333
-------------------
Class A Interest Distributable Amount 471,443.40
Class B Principal Distributable Amount
Principal Distributable Amount 1,481,238.84
Times Class B Percentage (5%) 5%
-------------------
Class B Principal Distributable Amount 74,061.94
Class B Coupon Interest Amount
Beginning of Period Principal Balance of the Certificates 4,444,085.48
Multiplied by Certificate Pass-Through Rate 11.30%
Multiplied by 30/360, or for the first Distribution Date 0.0833333
-------------------
Class B Coupon Interest Amount 41,848.47
Class B Excess Interest Amount
Total Distribution Amount 2,944,611.52
minus
Class A Principal and Interest Distributable Amount 1,878,620.30
Class A Interest Carrover Shortfall 0.00
Class A Principal Carryover Shortfall 0.00
Class B Coupon Interest 41,848.47
Class B Interest Carryover Shortfall 0.00
Class B Principal Distributable Amount 74,061.94
Class B Principal Carryover Shortfall 0.00
Trustee distributions 1,111.02
Standby Servicer distributions 5,925.45
Servicer distributions 160,713.13
Collateral Agent distributions 1,111.02
Reimbursement Obligations 24,217.21
-------------------
757,002.98
Carryover Shortfalls from Prior Periods
Class B Principal Carryover Shortfall from previous period 0.00
-------------------
0.00
Class B Interest Carryover Shortfall from previous period 0.00
Interest on Class B Interest Carryover Shortfall 0.00
-------------------
0.00
Interest Carryover on Class B Interest Shortfall 0.00
Interest Earned 0.00
-------------------
0.00
Class A Principal Carryover Shortfall from previous period 0.00
-------------------
0.00
Interest Carryover on Class A Principal Shortfall 0.00
Interest Earned 0.00
-------------------
0.00
Class A Interest Carryover Shortfall from previous period 0.00
Interest on Class A Interest Carryover Shortfall 0.00
-------------------
0.00
Interest Carryover on Class A Interest Shortfall 0.00
Interest Earned 0.00
-------------------
0.00
Calculations
Distributions (Pursuant to Section 4.6(c) of the Pooling and Servicing
Agreement):
Use Source act distributed Source
--- ------- ------------- ------
0.00 74,061.94
(i) Standby Fee 5,925.45 0.00 0.00 0.00
Servicing Fee (2.0%) 148,136.18 0.00 0.00 0.00
Additional Servicing Fee Amounts (late fees,prepayment charges, etc.) 12,576.95 0.00 0.00
Unpaid Standby Fee from prior Collection Periods 0.00 0.00 0.00
Unpaid Servicing Fee from prior Collection Periods 0.00 0.00 0.00
(ii) Transition Expenses to Standby Servicer 0.00 0.00 0.00
(iii) Trustee Fee 1,111.02 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 Collection Periods 0.00 0.00 0.00
(iv) Collateral Agent Fee 1,111.02 0.00 0.00
Collateral Agent Expenses 0.00 0.00 0.00
Unpaid Collateral Agent Fee from prior Collection Periods 0.00 0.00 0.00
Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 0.00 0.00
(v) (A) Class A Interest Distributable Amount - Current Month 471,443.40 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 74,061.94
Current Month Class A Interest Carryover Shortfall 0.00 0.00 0.00 74,061.94
Class A Interest Distributable Amount 471,443.40 0.00 0.00
(viii)(A)Class B Coupon Interest - Unadjusted 41,848.47 0.00 0.00
Class B Interest Carryover Shortfall - Previous Month(s) 0.00 0.00 0.00
Interest on B Interest Shortfall - Previous Month(s) 0.00 0.00 0.00
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 41,848.47 0.00 0.00
(v) (B) Class A Principal Distributable Amount - Current Month 1,407,176.90 0.00 0.00
Class A Principal Carryover Shortfall - Previous Month(s) 0.00 0.00 0.00
Interest on Interest Carryover from Prior Months 0.00 0.00 0.00
Current Month Class A Principal Shortfall 0.00 0.00 0.00
Class A Principal Distribution Amount 1,407,176.90 0.00 0.00
(vi) Certificate Insurer Premium 24,217.21 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
(B) Class B Principal Distributable Amount - Current Month Unadjusted 74,061.94 0.00 0.00
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 74,061.94 0.00 0.00
(C) Excess Interest Amount for Deposit in Spread Account 757,002.98 0.00 0.00
0.00 0.00
Certificate Balance
Class A Beginning of Period Principal Balance 84,437,623.95
Class A Principal Distributions 1,407,176.90
Class A End of Period Principal Balance 83,030,447.05
Class B Beginning of Period Principal Balance 4,444,085.48
Class B Principal Distributable Amount 74,061.94
Class B End of Period Principal Balance 4,370,023.54
Class A Deficiency - Interest
(i) Total Distribution Amount Available 2,944,611.52
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 640,304.02
(iii) Prior month(s) carryover shortfalls 0.00
(iv) Interest on Prior month(s) carryover shortfalls 0.00
(v) Interest on Interest of prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO
Amount Remaining for Further Distribution/(Deficiency) 2,304,307.50
Class B Deficiency - Interest
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 2,304,307.50
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 41,848.47
(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) 2,262,459.03
Class A Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 2,262,459.03
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 1,407,176.90
(iii) Prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO
Amount Remaining for Further Distribution/(Deficiency) 855,282.13
Other Deficiencies - Insurance
(i) Amounts available to make payments for insurance 855,282.13
Certificate Insurer Premium 24,217.21
Certificate Insurer Premium Supplement 0.00
Deficiency Amount 0.00
Amount Remaining for Further Distribution/(Deficiency) 831,064.92
Class B Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 831,064.92
(ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 74,061.94
(iii) Prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO
Amount Remaining for Further Distribution/(Deficiency) 757,002.98
Calculations
Performance Measures
Calculation of Delinquency Ratio (Current Period)
Delinquency Amount
Receivables more than 30 days delinquent 6,682,000.00
Purchased receivables more than 30 days delinquent 208,943.33
-------------------
Total 6,890,943.33
Aggregate Gross Principal Balance as of the close of
business on the last day of the
Collection Period. 107,739,199.81
Delinquency Ratio 6.40%
Calculation of Average Delinquency Ratio
Delinquency Ratio for most recent Determination Date 6.40%
Delinquency Ratio for second preceding Determination Date 4.49%
Delinquency Ratio for third preceding Determination Date 2.87%
-------------------
Average Delinquency Ratio 4.59% 4.59%
Calculation of Cumulative Default Ratio
Default Amount
Principal Balance of Previously Defaulted Receivables 689,302.00
Current Period Defaulted Receivables 1,210,000.00
-------------------
Total 1,899,302.00
Cumulative Defaulted Receivables 1,899,302.00
Original Pool Balance 92,129,299.54
Cumulative Default Ratio 2.06%
Calculation of Cumulative Net Loss Ratio
Calculation of Net Liquidation Losses
Principal Balance plus accrued and unpaid interest of
Liquidated Receivables 9,063.00
Cram Down Losses 0.00
Net Liquidation Proceeds (7,609.28)
-------------------
Net Liquidation Losses 1,453.72
Cumulative Previous Net Losses 3,837.00
-------------------
Cumulative Net Losses 5,290.72
Original Pool Balance 92,129,299.54
Cumulative Net Loss Ratio 0.01%
Spread Account
Spread Account Cap
10% of Outstanding Certificate Balance 8,740,047.06
15% of Outstanding Certificate Balance 13,110,070.59
Is a Portfolio Performance Test violation continuing? (Y/N) N
Has an Insurance Agreement Event of Default occurred? (Y/N) N
---------------
Cap Amount 8,740,047.06
Spread Account Floor
3% of the Initial Certificate Balance 2,763,878.99
Outstanding Certificate Balance 87,400,470.59
Minimum Floor 100,000.00
---------------
Floor Amount 2,763,878.99
Required Spread Account Amount 8,740,047.06
Beginning of Period Spread Account Balance 5,078,801.14
Spread Account Deposit (Withdrawal) from Current Distributions 757,002.98
Transfer (to) from Cross-Collateralized Spread Accounts 0.00
Required addition to/(eligible withdrawal from) Spread Account 2,904,242.94
Earnings on Spread Account Balance 15,264.64
Amount of Spread Account deposit (withdrawal) 0.00
Ending Spread Account Balance 5,851,068.76
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 - Chief Financial Officer
-------------------------------------------------------
Current month excess servicing fee #REF!
Monthly Certificateholder Statement
CPS Auto Grantor Trust 1996-3
6.30% Asset-Backed Certificates
10.15% Class B Asset-Backed Certificates
Distribution Date 1/15/97
Collection Period 12/96
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 $782,536.69
(b) The amount of the distribution set forth in
paragraph A.1. (a) above in respect of interest $416,815.50
(c) The amount of the distribution set forth in
in paragraph A.1. (a) above in respect of principal $365,721.19
(d) The amount of the distribution set forth in
paragraph A.1. (a) above, per $1,000 interest $8.87
(e) The amount of the distribution set forth in
paragraph A.1. (b) above, per $1,000 interest $4.73
(f) The amount of the distribution set forth in
paragraph A.1. (c) above, per $1,000 interest $4.15
(g) The aggregate amount of the distribution to Class B
Certificateholders on the Distribution Date set forth above $54,592.48
(h) The amount of the distribution set forth in
paragraph A.1. (g) above in respect of interest $35,344.00
(i) The amount of the distribution set forth in
in paragraph A.1. (g) above in respect of principal $19,248.48
(j) Scheduled Payments due in such Collection Period $2,665,016.71
(k) Scheduled Payments collected in such
Collection Period $1,068,711.43
B. Information Regarding the Performance of the Trust.
1 Pool Balance and Certificate Balances
(a) The aggregate Principal Balance of the
Receivables as of the close of business
on the last day of the preceding Collection Period $92,857,811.12
(b) The Certificates Balance as of the close of business on the
last day set forth above, after giving effect to payments
allocated to principal in paragraph A.1.(c) above $87,849,199.37
(c) The Pool factor as of the close of business
on the last day set forth above 0.9958542
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 $141,158.20
The aggregate amount of the Standby Fee
(b) paid to the Standby Servicer with respect to the
Collection Period set forth above. $8,357.20
(c) The amount of the payment set forth in
paragraph B.2. (a) above per $1,000 interest $1.60
(d) The amount of the payment set forth in
paragraph B.2. (b) above per $1,000 interest $0.09
(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 4
Aggregate Purchase Amount $49,783.09
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 $37,488.38
(b) Distributions (to) from Collection Account ($5,151.60)
for Payaheads
(c) Interest earned on Payahead Balances $0.00
(d) Ending Payahead Account Balance $32,336.78
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 $9,247,284.15
Spread Account Balance $3,370,440.63
(b) The change in the spread account on the Distribution
Date set forth above $120,417.24
6 Policy
(a) The amount paid to the Certificateholders
under the Policy for such Distribution Date $0.00
(b) The amount distributable to the Certificate
Insurer on such Distribution Date $23,060.41
7 Losses and Delinquencies.
(a) The aggregate amount of Realized Losses on the
Distribution Date set forth above $0.00
(b) The change in the aggregate amount of
Realized Losses from the prior Distribution Date $0.00
(c) The number of Receivables and the aggregate gross amount
scheduled to be paid, including unearned finance and other
charges, for which Obligors are delinquent between 31 and 59
days
Number 98
Aggregate Gross Amount $1,417,000.00
(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 0
Aggregate Gross Amount $0.00
8 Performance Triggers
(a) Delinquency Ratio 1.28%
(b) Average Delinquency Ratio 1.28%
(c) Cumulative Default Ratio 0.01%
(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 1995-3
Statement to Certificateholders
Is there a Deficiency Claim Amount? NO
Deficiency Claim Amount 0.00
Inputs
Gross Collection Proceeds: 1,127,059.92
Lock Box NSF Items: 0.00
Transfers from (to) Payahead Account: 5,151.60
Collection Account Interest 0.00
Payahead Account Interest 0.00
Total Collection Proceeds: 1,132,211.52
For Distribution Date: 1/15/97
For Determination Date: 1/7/97
For Collection Period: 12/96
Collateral Activity Information
Principal
Beginning Principal Balance 92,857,811.12
Principal portion of payments collected (non-prepayments) 321,469.58
Prepayments in full allocable to principal 13,717.00
Collections allocable to principal 335,186.58
Partial prepayments relating to various contracts or policies 0.00
Liquidation Proceeds allocable to principal 0.00
Purchase Amounts allocable to principal 49,783.09
Total Principal 384,969.67
Realized Losses 0.00
Cram Down Losses 0.00
Ending Principal Balance 92,472,841.45
Interest
Collections allocable to interest 747,241.85
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 747,241.85
Certificate Information
Beginning of Period Class A Principal Balance 88,214,920.56
Beginning of Period Class B Principal Balance 4,642,890.56
Miscellaneous Balances
Beginning of Period Spread Account Balance 3,250,023.39
Additional Servicing Fee Amounts (late fees,prepayment charges, etc.) 1,871.48
Aggregate Payahead Balance 32,336.78
Aggregate Payahead Balance for preceding Distribution Date 37,488.38
Interest Earned on Payahead Balances 0.00
Scheduled Payments due in Collection Period 2,665,016.71
Scheduled Payments collected in Collection Period 1,068,711.43
Aggregate Amount of Realized Losses for preceding Distribution Date 0.00
Miscellaneous Current Expenses
Trustee's out-of-pocket expenses 0.00
Collateral Agent's expenses 0.00
Transition Expenses to Standby Servicer 0.00
Transition Expenses to successor Servicer 0.00
Other Reimbursement Obligations to Certificate Insurer (non-Premium) 0.00
Miscellaneous Unpaid Amounts from Prior Collection Periods
Unpaid Standby Fee from prior Collection Periods 0.00
Unpaid Servicing Fee from prior Collection Periods 0.00
Unpaid Trustee Fee from prior Collection Periods 0.00
Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00
Unpaid Collateral Agent Fee from prior Collection Periods 0.00
Unpaid Collateral Agent Expenses from prior Collection Periods 0.00
Delinquency Information Aggregate Gross
Amount
# of Receivables of Receivables
---------------- --------------
31 - 59 days delinquent 98 1,417,000.00
60+ days delinquent 0 0.00
Purchased Receivables Aggregate
Purchase Amt
# of Receivables of Receivables
---------------- --------------
4 49,783.09
Information for Portfolio Performance Tests
Principal Balance of all Receivables delinquent more than 30 days as
of the close of business on the last day of the
related Collection Period. 1,417,000.00
Principal Balance of all Receivables that became Purchased
Receivables as of the close of business on the
last day of the related Collection Period and that were
delinquent 30 days or more. 49,783.09
Principal Balance of all Receivables that became Defaulted
Receivables during the related Collection Period. 7,161.61
Delinquency Ratio for second preceding Determination Date 0.00%
Delinquency Ratio for third preceding Determination Date 0.00%
Cumulative Defaults for preceding Determination Date 0.00
Cumulative Net Losses for preceding Determination Date 0.00
Is a Portfolio Performance Test violation continuing? (Y/N) N
Has an Insurance Agreement Event of Default occurred? (Y/N) N
Calculations
Total Distribution Amount
All collections on receivables (incl. amts from payahead, excl.
amounts deposited into payahead) 1,082,428.43
Liquidation Proceeds 0.00
Recoveries 0.00
Purchase Amounts 49,783.09
Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00
Investment earnings from Collection Account 0.00
Investment earnings from Payahead Account 0.00
-------------------
Total Distribution Amount 1,132,211.52
Distributable Amount
Principal Distributable Amount
Principal portion of payments collected (non-prepayments) 321,469.58
Prepayments in full allocable to principal 13,717.00
Principal Balance of Liquidated Receivables 0.00
Purchase Amounts allocable to principal 49,783.09
Cram Down Losses 0.00
-------------------
Principal Distributable Amount 384,969.67
Class A Principal Distributable Amount
Principal Distributable Amount 384,969.67
Times Class A Percentage (95%) 95%
-------------------
365,721.19
Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00
-------------------
Class A Principal Distributable Amount 365,721.19
Class A Interest Distributable Amount
Beginning of Period Principal Balance of the Certificates 88,214,920.56
Multiplied by Certificate Pass-Through Rate 6.30%
Multiplied by 30/360, or for the first Distribution Date, by 27/360 0.0750000
-------------------
Class A Interest Distributable Amount 416,815.50
Class B Principal Distributable Amount
Principal Distributable Amount 384,969.67
Times Class B Percentage (5%) 5%
-------------------
Class B Principal Distributable Amount 19,248.48
Class B Coupon Interest Amount
Beginning of Period Principal Balance of the Certificates 4,642,890.56
Multiplied by Certificate Pass-Through Rate 10.15%
Multiplied by 30/360, or for the first Distribution Date, by 27/360 0.0750000
-------------------
Class B Coupon Interest Amount 35,344.00
Class B Excess Interest Amount
Total Distribution Amount 1,132,211.52
minus
Class A Principal and Interest Distributable Amount 782,536.69
Class A Interest Carrover Shortfall 0.00
Class A Principal Carryover Shortfall 0.00
Class B Coupon Interest 35,344.00
Class B Interest Carryover Shortfall 0.00
Class B Principal Distributable Amount 19,248.48
Class B Principal Carryover Shortfall 0.00
Trustee distributions 1,044.65
Standby Servicer distributions 8,357.20
Servicer distributions 141,158.20
Collateral Agent distributions 1,044.65
Reimbursement Obligations 23,060.41
-------------------
120,417.24
Carryover Shortfalls from Prior Periods
Class B Principal Carryover Shortfall from previous period 0.00
-------------------
0.00
Class B Interest Carryover Shortfall from previous period 0.00
Interest on Class B Interest Carryover Shortfall 0.00
-------------------
0.00
Interest Carryover on Class B Interest Shortfall 0.00
Interest Earned 0.00
-------------------
0.00
Class A Principal Carryover Shortfall from previous period 0.00
-------------------
0.00
Class A Interest Carryover Shortfall from previous period 0.00
Interest on Class A Interest Carryover Shortfall 0.00
-------------------
0.00
Interest Carryover on Class A Interest Shortfall 0.00
Interest Earned 0.00
-------------------
0.00
Calculations
Distributions (Pursuant to Section 4.6(c) of the Pooling and Servicing
Agreement):
Use Source act distributed Source
--- ------ --------------- ------
(i) Standby Fee 8,357.20 132,211.52 8,357.20 1,132,211.52
Servicing Fee (2.0%) 139,286.72 123,854.32 39,286.72 0.00
Additional Servicing Fee Amounts (late fees,prepayment charges, etc.) 1,871.48 984,567.60 1,871.48 0.00
Unpaid Standby Fee from prior Collection Periods 0.00 982,696.12 0.00
Unpaid Servicing Fee from prior Collection Periods 0.00 982,696.12 0.00
(ii) Transition Expenses to Standby Servicer 0.00 982,696.12 0.00
(iii) Trustee Fee 1,044.65 982,696.12 1,044.65
Trustee's out-of-pocket expenses 0.00 981,651.47 0.00
Unpaid Trustee Fee from prior Collection Periods 0.00 981,651.47 0.00
Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00 981,651.47 0.00
(iv) Collateral Agent Fee 1,044.65 981,651.47 1,044.65
Collateral Agent Expenses 0.00 980,606.82 0.00
Unpaid Collateral Agent Fee from prior Collection Periods 0.00 980,606.82 0.00
Unpaid Collateral Agent Expenses from prior Collection Periods 0.00 980,606.82 0.00
(v) (A) Class A Interest Distributable Amount - Current Month 416,815.50 980,606.82 16,815.50
Prior Month(s) Class A Carryover Shortfall 0.00 563,791.32 0.00
Class A Interest Carryover Shortfall 0.00 563,791.32 0.00
Interest on Interest Carryover from Prior Months 0.00 563,791.32 0.00
Current Month Class A Interest Carryover Shortfall 0.00 563,791.32 0.00
Class A Interest Distributable Amount 416,815.50 563,791.32 16,815.50
(viii)(A)Class B Coupon Interest - Unadjusted 35,344.00 146,975.82 35,344.00
Class B Interest Carryover Shortfall - Previous Month(s) 0.00 111,631.82 0.00
Interest on B Interest Shortfall - Previous Month(s) 0.00 111,631.82 0.00
Interest on Interest Carryover from Prior Months 0.00 111,631.82 0.00
Current Month Class B Interest Shortfall 0.00 111,631.82 0.00
Adjusted Class B Interest Distributable Amount 35,344.00 111,631.82 35,344.00
(v) (B) Class A Principal Distributable Amount - Current Month 365,721.19 76,287.82 76,287.82 766,490.33
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 365,721.19 0.00 0.00 400,769.15
(vi) Certificate Insurer Premium 23,060.41 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
(B) Class B Principal Distributable Amount - Current Month Unadjusted 19,248.48 0.00 0.00
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 19,248.48 0.00 0.00
(C) Excess Interest Amount for Deposit in Spread Account 120,417.24 0.00 0.00
0.00 0.00
Certificate Balance
Class A Beginning of Period Principal Balance 88,214,920.56
Class A Principal Distributions 365,721.19
Class A End of Period Principal Balance 87,849,199.37
Class B Beginning of Period Principal Balance 4,642,890.56
Class B Principal Distributable Amount 19,248.48
Class B End of Period Principal Balance BEFORE Spread Account Distributions 4,623,642.08
Withdrawl from Spread Account to Cover B Shortfalls 0.00
Class B End of Period Principal Balance AFTER Spread Account Distributions 4,623,642.08
Class A Deficiency - Interest
(i) Total Distribution Amount Available 1,132,211.52
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)A 568,420.20
(iii) Prior month(s) carryover shortfalls 0.00
(iv) Interest on Prior month(s) carryover shortfalls 0.00
(v) Interest on Interest of prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO
Amount Remaining for Further Distribution/(Deficiency) 563,791.32
Class B Deficiency - Interest
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 563,791.32
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (vi) and (x) 35,344.00
(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) 528,447.32
Class A Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 528,447.32
(ii) Current distribution amounts payable pursuant to Section 4.6(c) (i) and (v)B 365,721.19
(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) 162,726.13
Other Distributions
(i) Amounts available to make payments pursuant to Section 4.6(c) (i) thru (v)A 162,726.13
(vi) Certificate Insurer Premium 23,060.41
(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) 139,665.72
Class B Deficiency - Principal
(i) Amounts available to make payments pursuant to Section 4.6(c) (vi) and (x) 139,665.72
(ii) Amounts payable pursuant to Section 4.6(c) (vi) and (x) 19,248.48
(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) 120,417.24
Withdrawl from Spread Account to B PieceCover Shortfalls 0.00
Adjusted Amount Remaining for Further Distribution/(Deficiency) 120,417.24
Calculations
Performance Measures
Calculation of Delinquency Ratio (Current Period)
Delinquency Amount
Receivables more than 30 days delinquent 1,417,000.00
Purchased receivables more than 30 days delinquent 49,783.09
-------------------
Total 1,466,783.09
Aggregate Gross Principal Balance as of the close of
business on the last day of the
Collection Period. 114,596,762.36
Delinquency Ratio 1.28%
Calculation of Average Delinquency Ratio
Delinquency Ratio for most recent Determination Date 1.28%
Delinquency Ratio for second preceding Determination Date 0.00%
Delinquency Ratio for third preceding Determination Date 0.00%
-------------------
Average Delinquency Ratio 1.28% 0.43%
Calculation of Cumulative Default Ratio
Default Amount
Principal Balance of Previously Defaulted Receivables 0.00
Current Period Defaulted Receivables 7,161.61
-------------------
Total 7,161.61
Cumulative Defaulted Receivables 7,161.61
Original Pool Balance 92,857,811.12
Cumulative Default Ratio 0.01%
Calculation of Cumulative Net Loss Ratio
Calculation of Net Liquidation Losses
Principal Balance plus accrued and unpaid interest of
Liquidated Receivables 0.00
Cram Down Losses 0.00
Net Liquidation Proceeds 0.00
-------------------
Net Liquidation Losses 0.00
Cumulative Previous Net Losses 0.00
-------------------
Cumulative Net Losses 0.00
Original Pool Balance 92,857,811.12
Cumulative Net Loss Ratio 0.00%
Spread Account
Spread Account Cap
10% of Outstanding Certificate Balance 9,247,284.15
15% of Outstanding Certificate Balance 13,870,926.22
Is a Portfolio Performance Test violation continuing? (Y/N) N
Has an Insurance Agreement Event of Default occurred? (Y/N) N
---------------
Cap Amount 9,247,284.15
Spread Account Floor
3% of the Initial Certificate Balance 2,785,734.33
Outstanding Certificate Balance 92,472,841.45
Minimum Floor 100,000.00
---------------
Floor Amount 2,785,734.33
Required Spread Account Amount 9,247,284.15
Beginning of Period Spread Account Balance 3,250,023.39
Spread Account Deposit (Withdrawal) from Current Distributions 120,417.24
Transfer (to) from Cross-Collateralized Spread Accounts 0.00
Required addition to/(eligible withdrawal from) Spread Account 5,876,843.52
Earnings on Spread Account Balance 0.00
Amount of Spread Account deposit (withdrawal) 0.00
Amount of Withdrawl Allocated to B Piece Shortfalls 0.00
Net Spread Account Withdrawl to Seller 0.00
Ending Spread Account Balance 3,370,440.63
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:
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Name: Jeffrey P. Fritz
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Title: Senior Vice President - Chief Financial Officer
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Current month excess servicing fee #REF!