Business Context and Reporting Period
Company: Consumer Portfolio Services, Inc. (CPSS)
Filing Type: Form 8-K (Current Report)
Date of Report: August 18, 2026
Event: Closing of a $80 million securitization of residual interests.
Key Financial Metrics
- Transaction Size: $80 million in notes issued.
- Coupon Rate: 10.25%.
- Collateral Structure:
- 100% of residual interests (spread accounts and over-collateralization) from four securitizations issued between April 2022 and April 2023.
- 80% interest in a majority-owned affiliate (MOA) holding residual interests from three securitizations issued between July 2023 and April 2026.
- Payment Terms: Monthly interest payments at the coupon rate; principal payments may be required to maintain a specified minimum collateral ratio.
Note: This filing does not provide specific revenue, profit, cash flow, or total debt figures for the company as a whole.
Material Changes
The filing reports a specific financing event rather than a period-over-period financial performance comparison. The material change is the execution of the $80 million securitization transaction on August 18, 2026, utilizing residual interests from prior securitizations as collateral.
Guidance, Outlook, and Risks
- Management Commentary: The company disclaims any implication that the agreements are other than those entered into in the ordinary course of business.
- Financial Statements: Neither financial statements nor pro forma financial information are filed with this report.
- Risks/Contingencies: The notes are subject to principal payments if necessary to maintain a specified minimum collateral ratio, indicating a structural risk tied to the performance of the underlying receivables.
Investor Verification Checklist
- Verify the specific identity and performance of the seven underlying securitizations (four from 2022-2023 and three from 2023-2026) pledged as collateral.
- Confirm the "specified minimum collateral ratio" threshold mentioned in the payment terms.
- Review the full text of the news release (Exhibit 99.1) for additional details on the use of proceeds.
- Check subsequent filings for the impact of this transaction on the company's consolidated balance sheet and liquidity position.