Company: CPSS
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001683168-25-003436
Chunk: 30

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 125,684 
  
    Finance receivables, net 
     4,987  
     –  
     –  
     3,996  
     3,996 
  
    Accrued interest receivable 
     65  
     –  
     –  
     65  
     65 
  
    Liabilities: 

    Warehouse lines of credit 
    $410,898  
    $–  
    $–  
    $410,898  
    $410,898 
  
    Accrued interest payable 
     10,663  
     –  
     –  
     10,663  
     10,663 
  
    Securitization trust debt 
     2,594,384  
     –  
     –  
     2,614,352  
     2,614,352 
  
    Subordinated renewable notes 
     26,489  
     –  
     –  
     26,489  
     26,489 

10) Business Segment
Information

The company has one reportable
segment. This determination is made by our Chief Executive Officer, who acts as the chief operating decision-maker (“CODM”),
in assessing performance and making decisions regarding resource allocation. The CODM assesses performance by reviewing the consolidated
financial statements, which reflect the financial results of our one reportable operating segment.

Within the Company’s one
reportable segment, it provides indirect vehicle financing to motor vehicle dealer’s less credit- worthy borrowers. The Company’s
revenue primarily consists of interest income and is derived from the interest recorded on contracts the Company has purchased, The revenue
generated from any individual borrower is deemed to be immaterial.

(11) Subsequent Events

On May 12, 2025, we executed
our second securitization of 2025. In the transaction, qualified institutional buyers purchased $419.95 million of asset-backed notes
secured by $439.29 million in automobile receivables originated by CPS. The sold notes, issued by CPS Auto Receivables Trust 2025-B, consist
of five classes. Ratings of the notes were provided by Standard & Poor’s and DBRS Morningstar, and were based on the structure
of the transaction, the historical performance of similar receivables and CPS’s experience