secwatch.observer — SEC 8-K summary
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Issuer:     CONSUMER PORTFOLIO SERVICES, INC. (CPSS)
CIK:        0000889609
Form:       8-K
Filed at:   2025-10-24T23:59:59+00:00
Accession:  0001683168-25-007768
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPS closes $384.6M auto-loan securitization (2025-D); weighted avg coupon 5.72%
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- Issued five classes of notes secured by $392.46M in automobile receivables; fourth term securitization in 2025.
- Senior Class A notes ($170.91M) rated AAA by S&P and DBRS; average life 0.66 years at 4.46%.
- Class E notes ($53.37M) rated NR/BB with 7.69% interest and average life 4.04 years.
- Initial credit enhancement: 1.00% cash reserve plus 2.00% overcollateralization, stepping to 7.00% of original pool.
- 57th senior subordinate securitization since 2011; 40th consecutive AAA rating on senior class.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889609/000168316825007768/0001683168-25-007768-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889609/000168316825007768/cps_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-25-007768

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