Consumer Portfolio Services completed a securitization of approximately $734.51 million of subprime auto receivables, issuing $716.88 million of asset-backed notes in five fixed-rate classes. The transaction, executed on July 22, 2026, includes a 1.00% cash reserve and initial overcollateralization of 2.40%, with targeted enhancement levels up to the lesser of 7.70% of the original pool or 19.10% of the then-outstanding pool. CPS will service the receivables, while the trust structure provides monthly interest and principal payments to noteholders. The financing is expected to support liquidity and funding of receivables.
Agreement details:
- Agreement type: Auto loan receivables securitization and issuance of asset-backed notes (2026-C)
- Counterparty: CPS Auto Receivables Trust 2026-C; Computershare Trust Company
- Signed / Effective: Jul 22 2026 / same
- Duration / Termination: Until notes repaid; monthly amortization; clean-up call at 10% pool
- Reason: Finance receivables and enhance liquidity
Original SEC Filing:
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