Company: CPSS
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001683168-25-003436
Chunk: 22

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 interests from previously issued securitizations. In this residual interest financing transaction, qualified institutional
buyers purchased $50.0 million of asset-backed notes secured by residual interests in eleven CPS securitizations consecutively issued
from January 2018 and September 2020. The sold notes (“2021-1 Notes”), issued by CPS Auto Securitization Trust 2021-1, consist
of a single class with a coupon of 7.86%. At March 31, 2025, there was $50.0 million outstanding under this facility

Unamortized debt issuance costs of $1.6 million
and $824,000 as of March 31, 2025, and December 31, 2024, respectively, have been excluded from the amount reported above for residual
interest financing. Similarly, unamortized debt issuance costs of $3.7 million and $4.3 million as of March 31, 2025, and December 31,
2024, respectively, have been excluded from the Warehouse lines of credit amounts in the table above. These debt issuance costs are presented
as a direct deduction to the carrying amount of the debt on our Unaudited Condensed Consolidated Balance Sheets.

     19 

CONSUMER PORTFOLIO SERVICES, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

(5) Interest Income and Interest Expense

The following table presents the components of interest
income:

    Schedule of interest
    income 

    Three Months Ended 

    March 31, 

    2025  
    2024 

    (In thousands) 
  
    Interest on finance receivables 
    $1,171  
    $2,337 
  
    Interest on finance receivables at fair value 
     99,567  
     80,505 
  
    Other interest income 
     1,195  
     1,446 
  
    Interest income 
    $101,933  
    $84,288 

The following table presents the components of
interest expense:

    Schedule of interest expense 

    Three Months Ended 

    March 31, 

    2025  
    2024 

    (In thousands) 
  
    Securitization trust debt 
    $45,044