MONTHLY NOTEHOLDER STATEMENT
CPS AUTO RECEIVABLES TRUST 1998-4
5.473% ASSET-BACKED NOTES, CLASS A-1
5.790% ASSET-BACKED NOTES, CLASS A-2
5.740% ASSET-BACKED NOTES, CLASS A-3
5.690% ASSET-BACKED NOTES, CLASS A-4
5.890% ASSET-BACKED NOTES, CLASS A-5
Distribution Date 12/17/2001
Collection Period 11/01
Under the Sale and Servicing Agreement dated as of December 1, 1998 (the
"Agreement") by and among CPS Receivables Corp., Consumer Portfolio Services,
Inc. as Servicer, Bankers Trust as Owner Trustee, and Norwest Bank Minnesota,
National Association, as Indenture Trustee and as Collateral Agent, the Servicer
is required to prepare certain information each month regarding current
distributions to Noteholders and Certificateholders and the performance of the
Trust during the previous month. The information which is required to be
prepared with respect to the Distribution Date and Collection Period listed
above is set forth below. Certain of the information is presented on the basis
of an original principal amount of $1,000 per Note, and certain other
information is presented based upon the aggregate amounts for the Trust as a
whole.
A. Information Regarding the Current Monthly Distribution:
1 Notes.
(a) The aggregate amount of the distribution
to Class A-1 Noteholders on the Distribution
Date set forth above $0.00
(b) The amount of the distribution set forth in
paragraph A.1. (a) above in respect of interest $0.00
(c) The amount of the distribution set forth in
in paragraph A.1. (a) above in respect of principal $0.00
(d) The amount of total the distribution set forth in
paragraph A.1. (a) above, per $1,000 $0.00
(e) The amount of the distribution set forth in
paragraph A.1. (b) above, per $1,000 $0.00
(f) The amount of the distribution set forth in
paragraph A.1. (c) above, per $1,000 principal $0.00
(g) The aggregate amount of the distribution
to Class A-2 Noteholders on the Distribution
Date set forth above $0.00
(h) The amount of the distribution set forth in
paragraph A.1. (g) above in respect of interest $0.00
(i) The amount of the distribution set forth in
in paragraph A.1. (g) above in respect of principal $0.00
(j) The amount of the distribution set forth in
paragraph A.1. (g) above, per $1,000 $0.00
(k) The amount of the distribution set forth in
paragraph A.1. (h) above, per $1,000 $0.00
(l) The amount of the distribution set forth in
paragraph A.1. (i) above, per $1,000 $0.00
(m) The aggregate amount of the distribution
to Class A-3 Noteholders on the Distribution
Date set forth above $2,876,300.02
(n) The amount of the distribution set forth in
paragraph A.1. (m) above in respect of interest $145,297.25
(o) The amount of the distribution set forth in
in paragraph A.1. (m) above in respect of principal $2,731,002.77
(p) The amount of the distribution set forth in
paragraph A.1. (m) above, per $1,000 $35.35
(q) The amount of the distribution set forth in
paragraph A.1. (n) above, per $1,000 $1.79
(r) The amount of the distribution set forth in
paragraph A.1. (o) above, per $1,000 $33.56
(s) The aggregate amount of the distribution
to Class A-4 Noteholders on the Distribution
Date set forth above $1,501,390.54
(t) The amount of the distribution set forth in
paragraph A.1. (s) above in respect of interest $75,615.88
(u) The amount of the distribution set forth in
in paragraph A.1. (s) above in respect of principal $1,425,774.66
(v) The amount of the distribution set forth in
paragraph A.1. (s) above, per $1,000 $15.01
(w) The amount of the distribution set forth in
paragraph A.1. (t) above, per $1,000 $0.76
(x) The amount of the distribution set forth in
paragraph A.1. (u) above, per $1,000 $14.26
(y) The aggregate amount of the distribution
to Class A-5 Noteholders on the Distribution
Date set forth above $91,417.71
(z) The amount of the distribution set forth in
paragraph A.1. (y) above in respect of interest $91,417.71
(aa) The amount of the distribution set forth in
in paragraph A.1. (y) above in respect of principal $0.00
(bb) The amount of the distribution set forth in
paragraph A.1. (y) above, per $1,000 $4.91
(cc) The amount of the distribution set forth in
paragraph A.1. (z) above, per $1,000 4.91
(dd) The amount of the distribution set forth in
paragraph A.1. (aa) above, per $1,000 0.00
B. Information Regarding the Performance of the Trust.
1 Pool and Notes Balances.
(a) The aggregate Principal Balance of the
Receivables as of the close of business
on the last day of the preceding Collection Period $64,947,842.34
(b) The aggregate principal amount of the Securities as
of the close of business on the last day set forth
above, after giving effect to payments
allocated to principal in paragraph A.1.(c),(i),(o),(u),(aa) above $60,791,064.92
(c) The Note Pool Factor as of the close of business
on the last day set forth above 0.9359982
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 $150,555.89
(b) The aggregate amount of the Standby Fee
paid to the Standby Servicer with respect to the
Collection Period set forth above. $1,353.08
(c) The amount of the payment set forth in
paragraph B.2. (a) above per $1,000 $4.63
(d) The amount of the payment set forth in
paragraph B.2. (b) above per $1,000 $0.00
(e) The amount of any unpaid Servicing Fee $0.00
(f) The change in the amount of any unpaid
Servicing Fee from the prior Distribution Date $0.00
The number and aggregate Purchase Amount of
Receivables that became Purchased Receivables
during the related Collection Period
Number 0
Aggregate Purchase Amount $0.00
3 Payment Shortfalls.
(a) The amount of the Class A-1 Interest Carryover shortfall
after giving effect to the payments set forth in
paragraph A.1. (b) above $0.00
(b) The amount of the Class A-2 Interest Carryover shortfall
after giving effect to the payments set forth in
paragraph A.1. (h) above $0.00
(c) The amount of the Class A-3 Interest Carryover shortfall
after giving effect to the payments set forth in
paragraph A.1. (n) above $0.00
(d) The amount of the Class A-4 Interest Carryover shortfall
after giving effect to the payments set forth in
paragraph A.1. (t) above $0.00
(e) The amount of the Class A-5 Interest Carryover shortfall
after giving effect to the payments set forth in
paragraph A.1. (z) above $0.00
(f) The amount of the Class A Principal Carryover Shortfall
after giving effect to the payments set forth in
paragraph A.1.(c),(i),(o),(u),(aa) above $0.00
4 Spread Account.
(a) The Specified Spread Account Balance with
respect to such Distribution Date and the Spread
Account Balance on the Distribution Date
set forth above, after giving effect to
distributions made on such Distribution Date
Specified Spread Account Balance $12,766,123.63
Spread Account Balance $12,766,123.63
(b) The change in the spread account on the Distribution
Date set forth above ($872,923.26)
5 Policy.
(a) The amount paid to the Noteholders
under the Policy for such Distribution Date $0.00
(b) The amount distributable to the Note
Insurer on such Distribution Date $277,151.79
6 Losses and Delinquencies.
(a) The aggregate amount of Realized Losses on the
Distribution Date set forth above $762,795.62
(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 378
Aggregate Gross Amount $2,598,000.00
(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 203
Aggregate Gross Amount $1,424,000.00
7 Performance Triggers.
(a) Delinquency Ratio 8.76%
(b) Average Delinquency Ratio 7.65%
(c) Cumulative Default Ratio 21.67%
(d) Cumulative Net Loss Ratio 13.91%
(e) Is a Portfolio Performance Test violation continuing? Yes
(f) Has an Insurance Agreement Event of Default occurred? Yes
CPS AUTO RECEIVABLES TRUST 1998-4
STATEMENT TO NOTEHOLDERS
IS THERE A DEFICIENCY CLAIM AMOUNT? NO
DEFICIENCY CLAIM AMOUNT 0.00
INPUTS
GROSS COLLECTION PROCEEDS: 4,678,485.55
LOCK BOX NSF ITEMS: (40,014.69)
TOTAL COLLECTION PROCEEDS: 4,638,470.86
FOR DISTRIBUTION DATE: 12/17/2001
FOR DETERMINATION DATE: 12/10/2001
FOR COLLECTION PERIOD: 11/01
COLLATERAL ACTIVITY INFORMATION
PRINCIPAL
Beginning Principal Balance 64,947,842.34
Beginning Principal Balance of Subsequent Receivables Transferred 0.00
---------------
Aggregate Beginning Principal Balance 64,947,842.34
Principal portion of payments collected (non-prepayments) 2,254,599.67
Prepayments in full allocable to principal 1,039,009.00
Collections allocable to principal 3,293,608.67
Partial prepayments relating to various contracts or policies 0.00
Liquidation Proceeds allocable to principal 100,373.13
Purchase Amounts allocable to principal 0.00
---------------
Total Principal 3,393,981.80
Realized Losses 762,795.62
Cram Down Losses 0.00
Ending Principal Balance 60,791,064.91
PREFUNDING
Original Amount in Prefunding Account 34,352,728.96
Subsequent Loans Sold to the Trust 34,352,728.96
---------------
Balance of Prefunding Account 0.00
INTEREST
Collections allocable to interest 990,631.03
Liquidation Proceeds allocable to interest 0.00
Purchase Amounts allocable to interest 0.00
Recoveries from Liquidated Receivables from prior periods 253,858.03
---------------
Total Interest 1,244,489.06
NOTE INFORMATION
Beginning of Period Class A-1 Principal Balance 0.00
Beginning of Period Class A-2 Principal Balance 0.00
Beginning of Period Class A-3 Principal Balance 30,375,732.41
Beginning of Period Class A-4 Principal Balance 15,947,109.93
Beginning of Period Class A-5 Principal Balance 18,625,000.00
MISCELLANEOUS BALANCES
Beginning of Period Spread Account Balance 13,639,046.89
Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 42,309.49
Scheduled Payments due in Collection Period 3,435,123.06
Scheduled Payments collected in Collection Period 3,245,230.70
Aggregate Amount of Realized Losses for preceding Distribution Date 762,795.62
MISCELLANEOUS CURRENT EXPENSES -178.50
Trustee's out-of-pocket expenses 0.00
Collateral Agent's expenses 0.00
Transition Expenses to Standby Servicer 0.00
Transition Expenses to successor Servicer 0.00
Other Reimbursement Obligations to Note Insurer (non-Premium)
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 378 2,598,000.00
60 - 89 days delinquent 113 785,000.00
90 - 119 days delinquent 55 396,000.00
120+ days delinquent 35 243,000.00
Repos in Inventory 198 1,466,529.99
PURCHASED RECEIVABLES Aggregate
Purchase Amt
# of Receivables of Receivables
0 0.00
INFORMATION FOR PORTFOLIO PERFORMANCE TESTS
Principal Balance of all Receivables delinquent more than 30 days as of the close
of business on the last day of the related Collection Period. 5,488,529.99
Principal Balance of all Receivables that became Purchased Receivables as of
the close of business on the last day of the related Collection Period
and that were delinquent 30 days or more. 0.00
Principal Balance of all Receivables that became Defaulted Receivables
during the related Collection Period. 923,178.00
Delinquency Ratio for second preceding Determination Date 6.90%
Delinquency Ratio for third preceding Determination Date 7.29%
Cumulative Defaults for preceding Determination Date 66,268,250.00
Cumulative Net Losses for preceding Determination Date 42,600,264.21
Does a Trigger Event Exist? Y
Is a Portfolio Performance Test violation continuing? (Y/N) Y
Has an Insurance Agreement Event of Default occurred? (Y/N) Y(WAIVED)
CALCULATIONS
INTEREST RESERVE ACCOUNT
Weighted Average of the Interest Rates and Pass-Through Rates 5.7174%
Minus 2.5% (the assumed yield) 2.50%
---------------
3.2174%
Divided by 360 0.0089%
Times the prefunded amount 0.00
Times the number of days outstanding in prefunding period (12/4 - 2/15) 73.00
---------------
Requisite Reserve Amount 0.00
Amount in Interest Reserve Account 0.00
---------------
Excess in Interest Reserve Account 0.00
TOTAL DISTRIBUTION AMOUNT
All collections on receivables (incl. amts from payahead, excl.
amounts deposited into payahead) 4,284,239.70
Liquidation Proceeds 100,373.13
Recoveries 253,858.03
Purchase Amounts 0.00
Note Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00
Excess released from Interest Reserve Account 0.00
Investment earnings from Note Distribution Account 0.00
Investment earnings from Prefunding Account 0.00
Investment earnings from Interest Reserve Account N/A
Investment earnings from Collection Account 5,580.18
---------------
TOTAL DISTRIBUTION AMOUNT 4,644,051.04
DISTRIBUTABLE AMOUNT
Principal Distributable Amount
Principal portion of payments collected (non-prepayments) 2,254,599.67
Prepayments in full allocable to principal 1,039,009.00
Principal Balance of Liquidated Receivables 863,168.75
Purchase Amounts allocable to principal 0.00
Cram Down Losses 0.00
---------------
Principal Distributable Amount 4,156,777.42
Sequential Pay Noteholders' Percentage (A-1, A-2 & A-3)
Have the Class A-4 Notes been reduced to 0? No
Sequential Noteholders Percentage 65.7%
If Class A-4 Notes have been reduced to 0 100.0%
Sequential Pay Noteholders' Principal Distributable Amount
Principal Distributable Amount 4,156,777.42
Sequential Pay Noteholders Percentage 65.7%
---------------
Sequential Pay Noteholders' Principal Distributable Amount 2,731,002.77
Class A-4 Noteholders's Percentage
Have the Sequential Pay Notes been reduced to 0? No
Class A-4 Noteholder's Percentage 34.3%
If Sequential Pay Notes have been reduced to 0 100.0%
Class A-4 Noteholders' Principal Distributable Amount
Principal Distributable Amount 4,156,777.42
Class A-4 Noteholders Percentage 34.3%
---------------
Class A-4 Noteholders' Principal Distributable Amount 1,425,774.66
Class A-1 Noteholders' Interest Distributable Amount
Beginning of Period Principal Balance of the Notes 0.00
Multiplied by the Note Rate 5.4730%
Multiplied by actual/360, or for the first Distribution Date, by 11/360 0.0888889
---------------
Class A Interest Distributable Amount 0.00
Class A-2 Noteholders' Interest Distributable Amount
Beginning of Period Principal Balance of the Notes 0.00
Multiplied by the Note Rate 5.7900%
Multiplied by actual/360, or for the first Distribution Date, by 11/360 0.0833333
---------------
Class A Interest Distributable Amount 0.00
Class A-3 Noteholders' Interest Distributable Amount
Beginning of Period Principal Balance of the Notes 30,375,732.41
Multiplied by the Note Rate 5.7400%
Multiplied by actual/360, or for the first Distribution Date, by 11/360 0.0833333
---------------
Class A Interest Distributable Amount 145,297.25
Class A-4 Noteholders' Interest Distributable Amount
Beginning of Period Principal Balance of the Notes 15,947,109.93
Multiplied by the Note Rate 5.6900%
Multiplied by actual/360, or for the first Distribution Date, by 11/360 0.0833333
---------------
Class A Interest Distributable Amount 75,615.88
Class A-5 Noteholders' Interest Distributable Amount
Beginning of Period Principal Balance of the Notes 18,625,000.00
Multiplied by the Note Rate 5.8900%
Multiplied by actual/360, or for the first Distribution Date, by 11/360 0.0833333
---------------
Class A Interest Distributable Amount 91,417.71
Excess Interest Amount
Total Distribution Amount 4,644,051.04
minus
Class A Principal and Interest Distributable Amount 4,469,108.26
Class A Interest Carryover Shortfall 0.00
Class A Principal Carryover Shortfall 0.00
Trustee and Collateral Agent distributions 633.34
Standby Servicer distributions 1,353.08
Servicer distributions 150,555.89
Insurance and Reimbursement Obligations 277,151.79
---------------
(254,751.33)
CARRYOVER SHORTFALLS FROM PRIOR PERIODS
Sequential Pay Noteholders' Principal Carryover Shortfall 0.00
---------------
0.00
Class A-2 Principal Carryover Shortfall from previous period 0.00
---------------
0.00
Class A-3 Principal Carryover Shortfall from previous period 0.00
---------------
0.00
Class A-4 Principal Carryover Shortfall from previous period 0.00
---------------
0.00
Class A-5 Principal Carryover Shortfall from previous period 0.00
---------------
0.00
Class A-1 Interest Carryover Shortfall from previous period 0.00
---------------
0.00
Class A-2 Interest Carryover Shortfall from previous period 0.00
---------------
0.00
Class A-3 Interest Carryover Shortfall from previous period 0.00
---------------
0.00
Class A-4 Interest Carryover Shortfall from previous period 0.00
---------------
0.00
Class A-5 Interest Carryover Shortfall from previous period 0.00
---------------
0.00
Calculations
Distributions (Pursuant to Section 5.7(a) of the Sale and Servicing Agreement):
Use
---
(i) Standby Servicer Fee 1,353.08
Backup Servicer Fee plus Analysis Fee (180.00) and Due Diligence 6,755.00
Servicing Fee (2.0%) 108,246.40
Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 42,309.49
Unpaid Standby Fee from prior Collection Periods 0.00
Unpaid Servicing Fee from prior Collection Periods 0.00
(ii) Transition Expenses to Standby Servicer 0.00
(iii) Indenture Trustee Fee 405.92
Indenture Trustee's out-of-pocket expenses (178.50)
Unpaid Indenture Trustee Fee from prior Collection Periods 0.00
Unpaid Indenture Trustee's out-of-pocket exp. - prior Collection Periods 0.00
Owner Trustee Fee 0.00
Owner Trustee's out-of-pocket expenses 0.00
Unpaid Owner Trustee Fee from prior Collection Periods 0.00
Unpaid Owner Trustee's out-of-pocket exp - prior Collection Periods 0.00
(iv) Collateral Agent Fee 405.92
Collateral Agent Expenses 0.00
Unpaid Collateral Agent Fee from prior Collection Periods 0.00
Unpaid Collateral Agent Expenses from prior Collection Periods 0.00
(v) (A) Class A-1 Interest Distributable Amount - Current Month 0.00
Prior Month(s) Class A-1 Interest Carryover Shortfall 0.00
Class A-1 Interest Carryover Shortfall 0.00
Interest on Interest Carryover from Prior Months 0.00
Current Month Class A-1 Interest Carryover Shortfall 0.00
Class A-1 Interest Distributable Amount 0.00
(B) Class A-2 Interest Distributable Amount - Current Month 0.00
Prior Month(s) Class A-2 Interest Carryover Shortfall 0.00
Class A-2 Interest Carryover Shortfall 0.00
Interest on Interest Carryover from Prior Months 0.00
Current Month Class A-2 Interest Carryover Shortfall 0.00
Class A-2 Interest Distributable Amount 0.00
(C) Class A-3 Interest Distributable Amount - Current Month 145,297.25
Class A-3 Note Interest Carryover Shortfall - Previous Month(s) 0.00
Interest on Interest Shortfall - Previous Month(s) 0.00
Current Month Class A-3 Interest Shortfall 0.00
Adjusted Class A-3 Interest Distributable Amount 145,297.25
(D) Class A-4 Interest Distributable Amount - Current Month 75,615.88
Class A-4 Note Interest Carryover Shortfall - Previous Month(s) 0.00
Interest on Interest Shortfall - Previous Month(s) 0.00
Current Month Class A-4 Interest Shortfall 0.00
Adjusted Class A-4 Interest Distributable Amount 75,615.88
(E) Class A-5 Interest Distributable Amount - Current Month 91,417.71
Class A-5 Note Interest Carryover Shortfall - Previous Month(s) 0.00
Interest on Interest Shortfall - Previous Month(s) 0.00
Current Month Class A-5 Interest Shortfall 0.00
Adjusted Class A-5 Interest Distributable Amount 91,417.71
(vi) Sequential Pay Noteholders' Principal Distributable Amount 2,731,002.77
Class A Principal Carryover Shortfall - Previous Month(s) 0.00
Current Month Class A Principal Shortfall 0.00
Withdrawal from Spread Account to Cover Shortfall 0.00
Class A Total Adjusted Distributable Amount 2,731,002.77
Class A Principal Distribution Amount to Class A-1 0.00
Class A Principal Distribution Amount to Class A-2 0.00
Class A Principal Distribution Amount to Class A-3 2,731,002.77
(vii) Class A-4 Principal Distributable Amount 1,425,774.66
Class A Principal Distribution Amount to Class A-5 0.00
(viii) Note Insurer Premium 25,329.61
Short-Term Reinsurance 20,329.63
Long-Term Reinsurance 180,833.33
Note Insurer Premium Supplement 55,659.22
Other Reimbursement Obligations to Note Insurer 0.00
(ix) Transition Expenses to successor Servicer 0.00
Spread Account Deposit (withdrawal) (261,506.33)
SECURITIES BALANCE
Class A-1 Beginning of Period Principal Amount 0.00
Class A-1 Principal Distributions 0.00
Class A-1 End of Period Principal Amount 0.00
Class A-2 Beginning of Period Principal Amount 0.00
Class A-2 Principal Distributions 0.00
Class A-2 End of Period Principal Amount 0.00
Class A-3 Beginning of Period Principal Amount 30,375,732.41
Class A-3 Principal Distributable Amount 2,731,002.77
Class A-3 End of Period Principal Amount 27,644,729.64
Class A-4 Beginning of Period Principal Amount 15,947,109.93
Class A-4 Principal Distributable Amount 1,425,774.66
Class A-4 End of Period Principal Amount 14,521,335.27
Class A-5 Beginning of Period Principal Amount 18,625,000.00
Class A-5 Principal Distributable Amount 0.00
Class A-5 End of Period Principal Amount 18,625,000.00
Aggregate Ending Securities Balance 60,791,064.92
CLASS A-1 DEFICIENCY - INTEREST
(i) Total Distribution Amount Available 4,644,051.04
(ii) Current distribution amounts payable pursuant to Section 5.7(a)(i) thru (v)A 159,297.31
(iii) Prior month(s) carryover shortfalls 0.00
(iv) Interest on Prior month(s) carryover shortfalls 0.00
(v) Interest on Interest of prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO
Amount Remaining for Further Distribution/(Deficiency) 4,484,753.73
CLASS A-2 DEFICIENCY - INTEREST
(i) Amounts available to make payments pursuant to Section 5.7(a)(v)B 4,484,753.73
(ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)B 0.00
(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) 4,484,753.73
CLASS A-3 DEFICIENCY - INTEREST
(i) Amounts available to make payments pursuant to Section 5.7(a)(v)C 4,484,753.73
(ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)C 145,297.25
(iii) Prior month(s) carryover shortfalls 0.00
(iv) Interest on Prior month(s) carryover shortfalls 0.00
(v) Interest on Interest of prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO
Amount Remaining for Further Distribution/(Deficiency) 4,339,456.48
CLASS A-4 DEFICIENCY - INTEREST
(i) Amounts available to make payments pursuant to Section 5.7(a)(v)D 4,339,456.48
(ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)D 75,615.88
(iii) Prior month(s) carryover shortfalls 0.00
(iv) Interest on Prior month(s) carryover shortfalls 0.00
(v) Interest on Interest of prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO
Amount Remaining for Further Distribution/(Deficiency) 4,263,840.60
CLASS A-5 DEFICIENCY - INTEREST
(i) Amounts available to make payments pursuant to Section 5.7(a)(v)E 4,263,840.60
(ii) Current distribution amounts payable pursuant to Section 5.7(a)(v)E 91,417.71
(iii) Prior month(s) carryover shortfalls 0.00
(iv) Interest on Prior month(s) carryover shortfalls 0.00
(v) Interest on Interest of prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO
Amount Remaining for Further Distribution/(Deficiency) 4,172,422.89
SEQUENTIAL PAY NOTES DEFICIENCY - PRINCIPAL (A-1, A-2 & A-3)
(i) Amounts available to make payments pursuant to Section 5.7(a)(vi) 4,172,422.89
(ii) Current distribution amounts payable pursuant to Section 5.7(a)(vi) 2,731,002.77
(iii) Prior month(s) carryover shortfalls 0.00
Withdrawal from Spread Account to Cover Shortfall 0.00
If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO
Amount Remaining for Further Distribution/(Deficiency) 1,441,420.12
CLASS A-4 DEFICIENCY - PRINCIPAL
(i) Amounts available to make payments pursuant to Section 5.7(a)(vii) 1,441,420.12
(ii) Current distribution amounts payable pursuant to Section 5.7(a)(vii) 1,425,774.66
(iii) Prior month(s) carryover shortfalls 0.00
Withdrawal from Spread Account to Cover Shortfall 0.00
If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO
Amount Remaining for Further Distribution/(Deficiency) 15,645.47
CLASS A-5 DEFICIENCY - PRINCIPAL
(i) Amounts available to make payments pursuant to Section 5.7(a)(vii) 15,645.47
(ii) Current distribution amounts payable pursuant to Section 5.7(a)(vii) 0.00
(iii) Prior month(s) carryover shortfalls 0.00
Withdrawal from Spread Account to Cover Shortfall 0.00
If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO
Amount Remaining for Further Distribution/(Deficiency) 15,645.47
OTHER DISTRIBUTIONS
(i) Amounts available to make payments pursuant to Section 5.7(a)(viii) 15,645.47
(vi) Note Insurer Premium 226,492.57
(v) Note Insurer Premium Supplement 50,659.22
Other Reimbursement Obligations to Note Insurer 0.00
Deficiency Amount (261,506.33)
Withdrawal from Spread Account to Cover Deficiency 261,506.33
If (i) is less than (ii), there is a Deficiency Claim Amount NO
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 5,488,529.99
Purchased receivables more than 30 days delinquent 0.00
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Total 5,488,529.99
Aggregate Gross Principal Balance as of the close of
business on the last day of the Collection Period. 62,626,250.92
DELINQUENCY RATIO 8.76%
Calculation of Average Delinquency Ratio
Delinquency Ratio for most recent Determination Date 8.76%
Delinquency Ratio for second preceding Determination Date 6.90%
Delinquency Ratio for third preceding Determination Date 7.29%
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Average Delinquency Ratio 7.65%
CALCULATION OF CUMULATIVE DEFAULT RATIO
Default Amount
Principal Balance of Previously Defaulted Receivables 66,268,250.00
Current Period Defaulted Receivables 923,178.00
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Total 67,191,428.00
Cumulative Defaulted Receivables 67,191,428.00
Original Pool Balance 275,647,271.04
Add: Subsequent Receivables 34,352,728.96
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Total Original Balance 310,000,000.00
Cumulative Default Ratio 21.67%
CALCULATION OF CUMULATIVE NET LOSS RATIO
Calculation of 120+ Delinquent Losses:
Principal Balance of Delinquent Accts > 120 days 243,000.00
Principal Balance of Delinquent Accts >90 <120 days 396,000.00
Estimated Loss % 50%
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Estimated Loss $'s 441,000.00
Calculation of Net Losses
Principal Balance plus accrued and unpaid interest of
Liquidated Receivables 863,168.75
Cram Down Losses 0.00
Net Liquidation Proceeds (354,231.16)
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Net Losses 949,937.59
Cumulative Previous Net Losses 42,600,264.21
Less: Previous Month's Delinquency Loss Estimate (416,000.00)
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Cumulative Net Losses 43,134,201.80
Original Pool Balance 310,000,000.00
Cumulative Net Loss Ratio 13.91%
ADDITIONAL POOL INFORMATION:
Weighted Average Original Term 57.84
Weighted Average Remaining Term 21.68
Weighted Average Annual Percentage Rate 20.11%
SPREAD ACCOUNT
Spread Account Cap
Current Spread Account % 22.4%
21.0% of Outstanding Notes Balance if no Trigger Event 12,766,123.63
26.0% of Outstanding Notes Balance if a Trigger Event Exists 15,805,676.88
31.0% of Outstanding Notes Balance if an Insurance Event of Default 18,845,230.12
Is a Trigger Event continuing? (Y/N) Y
Has an Insurance Agreement Event of Default occurred? (Y/N) Y(WAIVED)
Requisite Amount 12,766,123.63
Spread Account Floor
2.5% of the Initial Certificate Balance 7,750,000.00
Outstanding Certificate Balance 60,791,064.92
Minimum Floor 100,000.00
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Floor Amount 7,750,000.00
Required Spread Account Amount 12,766,123.63
Beginning of Period Spread Account Balance 13,639,046.89
Additional Deposit for Subsequent Receivables Transfer 0.00
Spread Account Deposit (Withdrawal) from Current Distributions (261,506.33)
Transfer (to) from Cross-Collateralized Spread Accounts 0.00
Required addition to/(eligible withdrawal from) Spread Account (611,416.93)
Earnings on Spread Account Balance 23,799.29
Amount of Spread Account deposit (withdrawal) (635,216.22)
Net Spread Account Withdrawal to Seller (635,216.22)
Ending Spread Account Balance 12,766,123.63
IN WITNESS WHEREOF, I, David N. Kenneally, a responsible officer of Consumer
Portfolio Services, Inc., have executed this Servicer's Certificate as of the
Determination Date set forth above.
CONSUMER PORTFOLIO SERVICES, INC.
By: /s/ David N. Kenneally
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Name: David N. Kenneally
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Title: Senior Vice President - Chief Financial Officer
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