Consumer Portfolio Services got the jump on rival subprime lenders this week with the first securitization of non-prime auto loan receivables of the year.

CPS Auto Receivables Trust 2017-A is $206.32 million asset-backed offering, the 24th overall for the primarily indirect lender to troubled-credit borrowers whose FICO scores average 567 (from a range generally between 400 and 650).

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