Company: CPSS
Filing Date: 2025-05-23
Form Type: 424B2
Source: 0001683168-25-003971
Chunk: 64

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-05-23
Form: 424B2
Chunk 64
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servicing portfolio—
All of the automobile contracts that we own and that we have sold in securitizations and into our warehouse credit facilities and, in
each case, continue to service.

special purpose entities— Our subsidiaries that were formed for the specific purpose of securitizing our automobile contract receivables and facilitating
our warehouse, residual and other financing facilities.

spread account—
An account required by the credit enhancer of a securitization or warehouse credit facility in order to protect the credit enhancer against
credit losses. Generally, excess spread cash flow from the pool of automobile contracts is credited to the account and retained until
the account balance reaches a set maximum balance. If the maximum balance set forth under the terms of a particular securitization or
warehouse credit facility is attained, the excess spread cash flows and any surplus in the spread account are returned to us, our residual
lenders or the purchaser of a residual interest, as the case may be. The maximum balance in a particular securitization may increase or
decrease over time, and also may never be attained in any particular securitization or warehouse credit facility. Any remaining spread
account balance is released to us, our residual lenders or the purchaser of a residual interest, as the case may be, upon termination
of the securitization or warehouse credit facility.

warehousing—
A method in which automobile contracts are financed by financial institutions on a short-term basis. In a warehousing arrangement, which
we also refer to as a “warehouse credit facility,” automobile contracts are accumulated or pooled on a daily or less frequent
basis and assigned or pledged as collateral for short-term borrowings until they are financed in a securitization.

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