Company: CPSS
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001683168-25-003436
Chunk: 117

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 117
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5, and December 31 2024, respectively 
      
    March 2026 
     88,988  
     145,597 

    Residual interest financing 
    7.86% 
      
    June 2026 
     50,000  
     50,000 

    Residual interest financing 
    11.50% 
      
    March 2029 
     50,000  
     50,000 

    Residual interest financing 
    11.00% 
      
    June 2032 
     65,000  
     – 

    Subordinated renewable notes 
    Weighted average rate of 9.18% and 9.24% at March 31, 2025 and December 31, 2024, respectively 
      
    Weighted average maturity of April 2027 and December 2026 at March 31, 2025 and December 31, 2024, respectively 
     27,547  
     26,489 

    $561,935  
    $541,688 

     18 

CONSUMER PORTFOLIO SERVICES, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

On March 20, 2025, we completed a $65 million
securitization of residual interests from previously issued securitizations. In the transaction, a qualified institutional buyer purchased
$65.0 million of asset-backed notes secured by an 80% interest in a CPS affiliate that owns the residual interests in five CPS securitizations
issued from October 2023 through September 2024. The sold notes (“2025-1 Notes”), issued by CPS Auto Securitization Trust
2025-1, consist of a single class with a coupon of 11.00%. At March 31, 2025, there was $65.0 million outstanding under this facility.

On December 19, 2024, we increased the capacity
of our revolving credit agreement with Citibank, N.A., to $335 million. This follows the November 2024 closing of a revolving credit agreement
with Oaktree Capital Management, which is subordinate to our credit agreement with Citibank, N.A. The facility provides effective advances
up to