secwatch.observer — SEC 8-K summary
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Issuer:     CONSUMER PORTFOLIO SERVICES, INC. (CPSS)
CIK:        0000889609
Form:       8-K
Filed at:   2024-03-22T23:59:59+00:00
Accession:  0001683168-24-001644
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPS closes $50M securitization of residual interests from prior securitizations
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- Closed $50M asset-backed notes secured by 80% interest in a CPS affiliate holding residuals from five securitizations (Jan 2022–Jan 2023).
- Collateral includes 80% of spread account deposits and over-collateralization from each underlying securitization.
- Notes pay monthly interest at coupon rate; principal payments as needed to maintain minimum collateral ratio.
- Transaction was a private placement to a qualified institutional buyer; not registered under Securities Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889609/000168316824001644/0001683168-24-001644-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889609/000168316824001644/cps_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-001644

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