Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 551

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1C
Chunk 551
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    $3,313,767 
    $2,722,662 

     F-36 

CONSUMER PORTFOLIO SERVICES, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The table below compares the fair values of these
finance receivables to their contractual balances for the periods shown:

    Schedule of finance receivables to their contractual balances 

    December 31, 2024  
    December 31, 2023 

    Contractual  
    Fair  
    Contractual  
    Fair 

    Balance  
    Value  
    Balance  
    Value 

    (In thousands) 
  
    Finance receivables measured at fair value. 
    $3,485,540  
    $3,313,767  
    $2,941,915  
    $2,722,662 

 The following table provides certain qualitative
information about our level 3 fair value measurements:

    Schedule of level 3 fair value measurements 

    Financial Instrument 
    Fair Values as of  
       
    Weight Avg. Inputs as of

    December 31,  
       
    December 31,

    2024  
    2023  
    Unobservable Inputs  
    2024 
    2023

    (In thousands)  

    Assets: 

    Discount rate  
    11.37% 
    11.35%
  
    Finance receivables measured at fair value 
    $3,313,767  
    $2,722,662  
     Cumulative net losses  
    15.47% 
    15.25%

Results for the years ended
December 31, 2024 and 2023 include marks of $21.0 and $12.0 million, respectively, to the carrying value of the finance receivables accounted
for at fair value. The marks are estimates based on our evaluation of the appropriate fair value and future earnings rate of existing
receivables compared to recently acquired receivables and increases or decreases in our estimates of future net losses. Our re-evaluation
of the fair values of these receivables resulted in a mark up for certain older receivables and a mark down to the fair values of newer
receivables. The fair value mark up on the older rece