secwatch.observer — SEC 8-K summary
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Issuer:     CONSUMER PORTFOLIO SERVICES, INC. (CPSS)
CIK:        0000889609
Form:       8-K
Filed at:   2026-01-27T23:59:59+00:00
Accession:  0001683168-26-000577
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPSS closes $345.6M auto loan securitization (2026-A); weighted avg coupon 5.18%
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- $345.61M of asset-backed notes sold; secured by $352.66M auto receivables.
- Five note classes: Class A $155.5M at 4.19% (AAA/AAA), Class E $45.5M at 6.66% (NR/BB).
- 58th term securitization since 2011; 41st consecutive AAA rating on senior class.
- Initial credit enhancement: 1% cash deposit + 2% overcollateralization; steps to 7.3% O/C.
- Private offering to qualified institutional buyers, not registered under Securities Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889609/000168316826000577/0001683168-26-000577-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889609/000168316826000577/cps_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-26-000577

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