secwatch.observer — SEC 8-K summary
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Issuer:     CONSUMER PORTFOLIO SERVICES, INC. (CPSS)
CIK:        0000889609
Form:       8-K
Filed at:   2024-09-20T23:59:59+00:00
Accession:  0001683168-24-006548
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPSS closes $416.82M auto securitization, fourth term deal in 2024
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- Issued $416.82M in asset-backed notes via CPS Auto Receivables Trust 2024-D, secured by $436M in subprime auto receivables.
- Five note classes: A ($188.35M, 4.91%), B ($56.24M, 4.65%), C ($71.94M, 4.76%), D ($46.00M, 5.14%), E ($54.28M, 7.13%).
- Senior Class A rated AAA by S&P and DBRS; weighted average coupon ~5.52%.
- Initial credit enhancement: 1.00% cash reserve and 4.40% overcollateralization, stepping to 9.00% of pool or 25.60% of outstanding.
- Pre-funded structure: $298.42M receivables sold at close; $137.58M additional expected in October 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889609/000168316824006548/0001683168-24-006548-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889609/000168316824006548/cps_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-006548

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