secwatch.observer — SEC 8-K summary
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Issuer:     CONSUMER PORTFOLIO SERVICES, INC. (CPSS)
CIK:        0000889609
Form:       8-K
Filed at:   2024-01-30T23:59:59+00:00
Accession:  0001683168-24-000532
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPS closes $280.9M asset-backed securitization, its 100th and first of 2024
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- Issued $280.9M in notes (five classes) secured by $300.6M subprime auto receivables; weighted coupon 6.51%.
- Senior Class A notes rated AAA by S&P and DBRS; Class E notes not rated; coupon 8.42%.
- Initial credit enhancement: 1.00% reserve cash and 6.55% overcollateralization; target max overcollateralization 9.55% of pool.
- Transaction marks 50th senior subordinate securitization since 2011 and 100th in company history.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889609/000168316824000532/0001683168-24-000532-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889609/000168316824000532/cps_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-000532

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer