Consumer Portfolio Services (CPS) is in the market with a $109.9 million auto deal called CPS Auto Receivables Trust 2011-B (CPSART 2011-B).

The CPSART 2011-B transaction is CPS' third securitization since September 2010, when it issued series 2010-A. According to a presale from Standard & Poor's,  the CPSART 2011-B ABS is structured as a true sale of the receivables from CPS to CPS Receivables Five LLC, which is a multi-use, special-purpose Delaware limited liability firm as well as a wholly owned, limited-purpose unit of CPS.

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