SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
------------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 31, 1999
FORD CREDIT AUTO OWNER TRUST 1999-A,
FORD CREDIT AUTO OWNER TRUST 1999-B
FORD CREDIT AUTO OWNER TRUST 1999-C AND
FORD CREDIT AUTO OWNER TRUST 1999-D
(Ford Credit Auto Receivables Two L.P. - Originator)
---------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-63551 38-3295857
- -------- --------- ----------
(State of other juris- (Commission File Number) (IRS Employer
diction of incorporation I.D. No.)
The American Road, Dearborn, Michigan 48121
- ---------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 313-322-3000
<PAGE>
Item 5. Other Events
The Monthly Servicing Reports relating to the Ford Credit Auto Owner Trust
1999-A, Ford Credit Auto Owner Trust 1999-B, Ford Credit Auto Owner Trust
1999-C, and Ford Credit Auto Owner Trust 1999-D for the Collection Period
ended October 31, 1999 are attached hereto as Exhibit 19.1, Exhibit 19.2,
Exhibit 19.3 and Exhibit 19.4 and incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
EXHIBITS
Designation Description Method of
Filing
- ----------- ------------ ----------------
Exhibit 19.1 Ford Credit Auto Owner Filed with
Trust Series 1999-A this Report.
Servicing Report for the
Collection Period ended
October 31, 1999.
Exhibit 19.2 Ford Credit Auto Owner Filed with
Trust Series 1999-B this Report.
Servicing Report for the
Collection Period ended
October 31, 1999.
Exhibit 19.3 Ford Credit Auto Owner Filed with
Trust Series 1999-C this Report.
Servicing Report for the
Collection Period ended
October 31, 1999.
Exhibit 19.4 Ford Credit Auto Owner Filed with
Trust Series 1999-D this Report.
Servicing Report for the
Collection Period ended
Ocotber 31, 1999.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized on the date indicated.
Ford Credit Auto Receivables Two L.P.
(Registrant)
By: Ford Credit Auto Receivables
Two, Inc., General Partner
Date: November 11, 1999 By:/s/R. P. Conrad
---------------------------------
Assistant Secretary
<PAGE>
EXHIBIT INDEX
Designation Description
- ----------- -----------
Exhibit 19.1 Ford Credit Auto Owner
Trust Series 1999-A
Servicing Report for the
Collection Period ended
Ocotber 31, 1999.
Exhibit 19.2 Ford Credit Auto Owner
Trust Series 1999-B
Servicing Report for the
Collection Period ended
October 31, 1999.
Exhibit 19.3 Ford Credit Auto Owner
Trust Series 1999-C
Servicing Report for the
Collection Period ended
Ocotber 31, 1999.
Exhibit 19.4 Ford Credit Auto Owner
Trust Series 1999-D
Servicing Report for the
Collection Period ended
Ocotber 31, 1999.
Exhibit 19.1
Ford Motor Credit Company
Ford Credit Auto Owner Trust 1999-A
Monthly Servicing Report
Collection Period October, 1999
Distribution Date 11/15/99
Dollar Amount
Total Portfolio $ 2,010,021,480.46
Total Securities 2,001,970,000.00
Class A-1 Notes 250,000,000.00
Class A-2 Notes 296,000,000.00
Class A-3 Notes 495,000,000.00
Class A-4 Notes 313,767,000.00
Class A-5 Notes 250,000,000.00
Class A-6 Notes 250,000,000.00
Class B Notes 68,695,000.00
Class C Certificates 39,254,000.00
Class D Certificates 39,254,000.00
I. COLLECTIONS
Interest:
Simple Interest Receivables Interest
Interest Collections $ 8,419,089.60
Repurchased Loan Proceeds Related to Interest 23,842.59
Total Simple Interest Receivables Interest 8,442,932.19
Pre Computed Receivables Interest Collections 445,324.00
Total Interest Collections 8,888,256.19
Servicer Advances:
Simple Interest Servicer Advances $ 1,775,506.27
Precomputed Servicer Advances - Principal 141,747.28
Precomputed Servicer Advances - Interest 31,032.33
Total Servicer Advances 1,948,285.88
Principal:
Simple Interest Receivables Principal
Principal Collections $ 31,601,207.05
Prepayments in Full 20,299,993.54
Repurchased Loan Proceeds Related to Principal 846,914.11
Other Refunds Related to Principal 6,115.36
Total Simple Interest Receivables Principal 52,754,230.06
Pre Computed Receivables Principal
Principal Collections $ 2,305,127.10
Prepayments in Full 1,218,108.66
Prepayments in Full Due to Administrative Repurchases 12,705.34
Payahead Draws 179,950.71
Total Pre Computed Receivables Principal 3,715,891.81
Liquidation Proceeds 590,158.21
Recoveries from Prior Month Charge-Offs 12,406.07
Total Principal Collections 57,072,686.15
Principal Losses for Collection Period 1,253,605.67
Total Regular Principal Reduction 57,865,474.82
Total Collections $ 67,909,228.22
Amount
Per $1,000
of Original
II. DISTRIBUTIONS Amount Principal
Total Collections $ 67,909,228.22 $ 33.92
Reserve Account Release 0.00 0.00
Reserve Account Draw 0.00 0.00
Total Available for Distribution 67,909,228.22 33.92
Servicing Fee:
Servicing Fee Due $ 1,191,386.69 $ 0.60
Servicing Fee Paid 1,191,386.69 0.60
Servicing Fee Shortfall 0.00 0.00
Interest:
Class A-1 Notes Monthly Interest
Class A-1 Notes Monthly Interest Due $ 0.00 $ 0.00
Class A-1 Notes Monthly Interest Paid 0.00 0.00
Class A-1 Notes Monthly Interest Shortfall 0.00 0.00
Class A-1 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-1 Notes Int. Carryover Shortfall 0.00 0.00
Class A-2 Notes Monthly Interest
Class A-2 Notes Monthly Interest Due $ 0.00 $ 0.00
Class A-2 Notes Monthly Interest Paid 0.00 0.00
Class A-2 Notes Monthly Interest Shortfall 0.00 0.00
Class A-2 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-2 Notes Int. Carryover Shortfall 0.00 0.00
Class A-3 Notes Monthly Interest
Class A-3 Notes Monthly Interest Due $ 1,918,307.27 $ 3.88
Class A-3 Notes Monthly Interest Paid 1,918,307.27 3.88
Class A-3 Notes Monthly Interest Shortfall 0.00 0.00
Class A-3 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-3 Notes Int. Carryover Shortfall 0.00 0.00
Class A-4 Notes Monthly Interest
Class A-4 Notes Monthly Interest Due $ 1,388,418.98 $ 4.43
Class A-4 Notes Monthly Interest Paid 1,388,418.98 4.43
Class A-4 Notes Monthly Interest Shortfall 0.00 0.00
Class A-4 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-4 Notes Int. Carryover Shortfall 0.00 0.00
Class A-5 Notes Monthly Interest
Class A-5 Notes Monthly Interest Due $ 1,120,833.33 $ 4.48
Class A-5 Notes Monthly Interest Paid 1,120,833.33 4.48
Class A-5 Notes Monthly Interest Shortfall 0.00 0.00
Class A-5 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-5 Notes Int. Carryover Shortfall 0.00 0.00
Class A-6 Notes Monthly Interest
Class A-6 Notes Monthly Interest Due $ 1,127,083.33 $ 4.51
Class A-6 Notes Monthly Interest Paid 1,127,083.33 4.51
Class A-6 Notes Monthly Interest Shortfall 0.00 0.00
Class A-6 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-6 Notes Int. Carryover Shortfall 0.00 0.00
Class B Notes Monthly Interest
Class B Notes Monthly Interest Due $ 331,453.37 $ 4.82
Class B Notes Monthly Interest Paid 331,453.37 4.82
Class B Notes Monthly Interest Shortfall 0.00 0.00
Class B Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class B Notes Int. Carryover Shortfall 0.00 0.00
Total Note Monthly Interest
Total Note Monthly Interest Due $ 5,886,096.28 $ 3.06
Total Note Monthly Interest Paid 5,886,096.28 3.06
Total Note Monthly Interest Shortfall 0.00 0.00
Total Note Interest Carryover Shortfall 0.00 0.00
Chg in Total Note Int. Carryover Shortfall 0.00 0.00
Class C Certificates Monthly Interest
Class C Cert. Monthly Interest Due $ 213,280.07 $ 5.43
Class C Cert. Monthly Interest Paid 213,280.07 5.43
Class C Cert. Monthly Interest Shortfall 0.00 0.00
Class C Cert. Interest Carryover Shortfall 0.00 0.00
Chg in Class C Cert. Int. Carryover Shortfall 0.00 0.00
Class D Certificates Monthly Interest
Class D Cert. Monthly Interest Due $ 261,693.33 $ 6.67
Class D Cert. Monthly Interest Paid 261,693.33 6.67
Class D Cert. Monthly Interest Shortfall 0.00 0.00
Class D Cert. Interest Carryover Shortfall 0.00 0.00
Chg in Class D Cert. Int. Carryover Shortfall 0.00 0.00
Total Note and Certificate Monthly Interest
Total Note and Cert. Mthly Int. Due $ 6,361,069.68 $ 3.18
Total Note and Cert. Mthly Int. Paid 6,361,069.68 3.18
Total Note and Cert. Mthly Int. Shortfall 0.00 0.00
Total Note and Cert. Int. Carryover Shortfall 0.00 0.00
Change in Total Note and Certificate Interest
Carryover Shortfall $ 0.00 $ 0.00
Total Available for Principal Distribution $ 60,356,771.85
Principal:
Principal Distribution Amounts
First Priority Distribution Amount $ 0.00 $ 0.00
Second Priority Distribution Amount 0.00 0.00
Regular Principal Distribution Amount 55,675,655.58 27.81
Principal Distribution Amount 55,675,655.58 27.81
Principal Distribution Amounts Paid
Class A-1 Notes Monthly Principal Paid $ 0.00 $ 0.00
Class A-2 Notes Monthly Principal Paid 0.00 0.00
Class A-3 Notes Monthly Principal Paid 55,675,655.58 112.48
Class A-4 Notes Monthly Principal Paid 0.00 0.00
Class A-5 Notes Monthly Principal Paid 0.00 0.00
Class A-6 Notes Monthly Principal Paid 0.00 0.00
Class B Notes Monthly Principal Paid 0.00 0.00
Total Note Principal Paid 55,675,655.58 28.95
Class C Cert. Monthly Principal Paid $ 0.00 $ 0.00
Class D Cert. Monthly Principal Paid 0.00 0.00
Total Monthly Principal Paid 55,675,655.58 27.81
Collections Released to Servicer $ 4,681,116.27
Total Available for Distribution $ 67,909,228.22
Total Distributions (incl. Servicing Fee) $ 67,909,228.22
III. POOL BALANCE AND PORTFOLIO INFORMATION
Balances and Pool Factors: Beginning Ending
Aggregate Balance of Notes $ 1,315,977,768.03 $ 1,260,302,112.45
Note Pool Factor 0.6841714 0.6552259
Class A-1 Notes Balance 0.00 0.00
Class A-1 Notes Pool Factor 0.0000000 0.0000000
Class A-2 Notes Balance 0.00 0.00
Class A-2 Notes Pool Factor 0.0000000 0.0000000
Class A-3 Notes Balance 433,515,768.03 377,840,112.45
Class A-3 Notes Pool Factor 0.8757894 0.7633134
Class A-4 Notes Balance 313,767,000.00 313,767,000.00
Class A-4 Notes Pool Factor 1.0000000 1.0000000
Class A-5 Notes Balance 250,000,000.00 250,000,000.00
Class A-5 Notes Pool Factor 1.0000000 1.0000000
Class A-6 Notes Balance 250,000,000.00 250,000,000.00
Class A-6 Notes Pool Factor 1.0000000 1.0000000
Class B Notes Balance 68,695,000.00 68,695,000.00
Class B Notes Pool Factor 1.0000000 1.0000000
Class C Certificates Balance 39,254,000.00 39,254,000.00
Class C Certificates Pool Factor 1.0000000 1.0000000
Class D Certificates Balance 39,254,000.00 39,254,000.00
Class D Certificates Pool Factor 1.0000000 1.0000000
Total Note and Cert. Balance 1,394,485,768.03 1,338,810,112.45
Portfolio Information:
Wtd Average Coupon (WAC) 8.94% 8.94%
Wtd Average Remaining Maturity (WAM) 39.37 38.50
Remaining Number of Receivables 121,540 118,983
Portfolio Receivable Balance $ 1,429,664,026.43 $ 1,371,798,551.61
IV. OVERCOLLATERALIZATION INFORMATION
Specified Overcollateralization Amount $ 3,667,878.12
Specified Credit Enhancement Amount 13,717,985.52
Yield Supplement Overcollateralization Amount 29,320,561.04
Target Level of Overcollateralization 32,988,439.16
V. RECONCILIATION OF RESERVE ACCOUNT
Beginning Reserve Account Balance $ 10,050,107.40
Specified Reserve Account Balance 10,050,107.40
Reserve Release Amount 0.00
Reserve Account Draws 0.00
Interim Reserve Account Balance 10,050,107.40
Reserve Account Deposits Made 0.00
Ending Reserve Account Balance 10,050,107.40
Change in Reserve Account Balance 0.00
VI. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY
Liquidated Contracts:
Liquidation Proceeds $ 590,158.21
Recoveries from Prior Month Charge-Offs 12,406.07
Total Losses for Collection Period 1,369,200.47
Charge-off Rate for Collection Period (annualized) 0.64%
Cumulative Net Losses for all Periods 3,876,116.43
Delinquent Receivables:
31-60 Days Delinquent $ 12,248,024.33
61-90 Days Delinquent 1,569,799.50
91-120 Days Delinquent 424,911.36
Over 120 Days Delinquent 201,926.23
Repossesion Inventory $ 2,074,178.38
Ratio of Net Losses to the Average Pool Balance:
Second Preceding Collection Period 0.5234%
Preceding Collection Period 0.5435%
Current Collection Period 0.6568%
Three Month Average 0.5746%
Ratio of 60+ Delinquent Contracts to Outstanding Receivables
Second Preceding Collection Period 0.0660%
Preceding Collection Period 0.1045%
Current Collection Period 0.1261%
Three Month Average 0.0988%
Exhibit 19.2
Ford Motor Credit Company
Ford Credit Auto Owner Trust 1999-B
Monthly Servicing Report
Collection Period October, 1999
Distribution Date 11/15/99
Dollar Amount
Total Portfolio $ 3,300,007,013.35
Total Securities 3,211,800,000.00
Class A-1 Notes 476,000,000.00
Class A-2 Notes 350,000,000.00
Class A-3 Notes 1,039,000,000.00
Class A-4 Notes 610,650,000.00
Class A-5 Notes 250,000,000.00
Class A-6 Notes 250,000,000.00
Class B Notes 110,200,000.00
Class C Certificates 62,975,000.00
Class D Certificates 62,975,000.00
I. COLLECTIONS
Interest:
Simple Interest Receivables Interest
Interest Collections $ 13,340,342.48
Repurchased Loan Proceeds Related to Interest 17,607.95
Total Simple Interest Receivables Interest 13,357,950.43
Pre Computed Receivables Interest Collections 505,268.75
Total Interest Collections 13,863,219.18
Servicer Advances:
Simple Interest Servicer Advances $ 2,584,699.85
Precomputed Servicer Advances - Principal 181,089.06
Precomputed Servicer Advances - Interest 31,152.97
Total Servicer Advances 2,796,941.88
Principal:
Simple Interest Receivables Principal
Principal Collections $ 61,918,365.15
Prepayments in Full 34,070,997.13
Repurchased Loan Proceeds Related to Principal 1,085,166.62
Other Refunds Related to Principal 15,046.44
Total Simple Interest Receivables Principal 97,089,575.34
Pre Computed Receivables Principal
Principal Collections $ 3,179,940.39
Prepayments in Full 1,436,064.84
Prepayments in Full Due to Administrative Repurchases 38,177.54
Payahead Draws 203,661.16
Total Pre Computed Receivables Principal 4,857,843.93
Liquidation Proceeds 531,784.74
Recoveries from Prior Month Charge-Offs 3,019.38
Total Principal Collections 102,482,223.39
Principal Losses for Collection Period 1,163,976.53
Total Regular Principal Reduction 103,292,484.86
Total Collections $ 119,142,384.45
Amount
Per $1,000
of Original
II. DISTRIBUTIONS Amount Principal
Total Collections $ 119,142,384.45 $ 37.10
Reserve Account Release 0.00 0.00
Reserve Account Draw 0.00 0.00
Total Available for Distribution 119,142,384.45 37.10
Servicing Fee:
Servicing Fee Due $ 2,291,219.51 $ 0.71
Servicing Fee Paid 2,291,219.51 0.71
Servicing Fee Shortfall 0.00 0.00
Interest:
Class A-1 Notes Monthly Interest
Class A-1 Notes Monthly Interest Due $ 0.00 $ 0.00
Class A-1 Notes Monthly Interest Paid 0.00 0.00
Class A-1 Notes Monthly Interest Shortfall 0.00 0.00
Class A-1 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-1 Notes Int. Carryover Shortfall 0.00 0.00
Class A-2 Notes Monthly Interest
Class A-2 Notes Monthly Interest Due $ 1,152,458.78 $ 3.29
Class A-2 Notes Monthly Interest Paid 1,152,458.78 3.29
Class A-2 Notes Monthly Interest Shortfall 0.00 0.00
Class A-2 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-2 Notes Int. Carryover Shortfall 0.00 0.00
Class A-3 Notes Monthly Interest
Class A-3 Notes Monthly Interest Due $ 4,736,108.33 $ 4.56
Class A-3 Notes Monthly Interest Paid 4,736,108.33 4.56
Class A-3 Notes Monthly Interest Shortfall 0.00 0.00
Class A-3 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-3 Notes Int. Carryover Shortfall 0.00 0.00
Class A-4 Notes Monthly Interest
Class A-4 Notes Monthly Interest Due $ 2,951,475.00 $ 4.83
Class A-4 Notes Monthly Interest Paid 2,951,475.00 4.83
Class A-4 Notes Monthly Interest Shortfall 0.00 0.00
Class A-4 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-4 Notes Int. Carryover Shortfall 0.00 0.00
Class A-5 Notes Monthly Interest
Class A-5 Notes Monthly Interest Due $ 1,231,250.00 $ 4.93
Class A-5 Notes Monthly Interest Paid 1,231,250.00 4.93
Class A-5 Notes Monthly Interest Shortfall 0.00 0.00
Class A-5 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-5 Notes Int. Carryover Shortfall 0.00 0.00
Class A-6 Notes Monthly Interest
Class A-6 Notes Monthly Interest Due $ 1,247,916.67 $ 4.99
Class A-6 Notes Monthly Interest Paid 1,247,916.67 4.99
Class A-6 Notes Monthly Interest Shortfall 0.00 0.00
Class A-6 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-6 Notes Int. Carryover Shortfall 0.00 0.00
Class B Notes Monthly Interest
Class B Notes Monthly Interest Due $ 565,693.33 $ 5.13
Class B Notes Monthly Interest Paid 565,693.33 5.13
Class B Notes Monthly Interest Shortfall 0.00 0.00
Class B Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class B Notes Int. Carryover Shortfall 0.00 0.00
Total Note Monthly Interest
Total Note Monthly Interest Due $ 11,884,902.11 $ 3.85
Total Note Monthly Interest Paid 11,884,902.11 3.85
Total Note Monthly Interest Shortfall 0.00 0.00
Total Note Interest Carryover Shortfall 0.00 0.00
Chg in Total Note Int. Carryover Shortfall 0.00 0.00
Class C Certificates Monthly Interest
Class C Cert. Monthly Interest Due $ 348,986.46 $ 5.54
Class C Cert. Monthly Interest Paid 348,986.46 5.54
Class C Cert. Monthly Interest Shortfall 0.00 0.00
Class C Cert. Interest Carryover Shortfall 0.00 0.00
Chg in Class C Cert. Int. Carryover Shortfall 0.00 0.00
Class D Certificates Monthly Interest
Class D Cert. Monthly Interest Due $ 419,833.33 $ 6.67
Class D Cert. Monthly Interest Paid 419,833.33 6.67
Class D Cert. Monthly Interest Shortfall 0.00 0.00
Class D Cert. Interest Carryover Shortfall 0.00 0.00
Chg in Class D Cert. Int. Carryover Shortfall 0.00 0.00
Total Note and Certificate Monthly Interest
Total Note and Cert. Mthly Int. Due $ 12,653,721.90 $ 3.94
Total Note and Cert. Mthly Int. Paid 12,653,721.90 3.94
Total Note and Cert. Mthly Int. Shortfall 0.00 0.00
Total Note and Cert. Int. Carryover Shortfall 0.00 0.00
Change in Total Note and Certificate Interest
Carryover Shortfall $ 0.00 $ 0.00
Total Available for Principal Distribution $ 104,197,443.04
Principal:
Principal Distribution Amounts
First Priority Distribution Amount $ 0.00 $ 0.00
Second Priority Distribution Amount 0.00 0.00
Regular Principal Distribution Amount 261,701,061.01 81.48
Principal Distribution Amount 261,701,061.01 81.48
Principal Distribution Amounts Paid
Class A-1 Notes Monthly Principal Paid $ 0.00 $ 0.00
Class A-2 Notes Monthly Principal Paid 104,197,443.04 297.71
Class A-3 Notes Monthly Principal Paid 0.00 0.00
Class A-4 Notes Monthly Principal Paid 0.00 0.00
Class A-5 Notes Monthly Principal Paid 0.00 0.00
Class A-6 Notes Monthly Principal Paid 0.00 0.00
Class B Notes Monthly Principal Paid 0.00 0.00
Total Note Principal Paid 104,197,443.04 33.77
Class C Cert. Monthly Principal Paid $ 0.00 $ 0.00
Class D Cert. Monthly Principal Paid 0.00 0.00
Total Monthly Principal Paid 104,197,443.04 32.44
Collections Released to Servicer $ 0.00
Total Available for Distribution $ 119,142,384.45
Total Distributions (incl. Servicing Fee) $ 119,142,384.45
III. POOL BALANCE AND PORTFOLIO INFORMATION
Balances and Pool Factors: Beginning Ending
Aggregate Balance of Notes $ 2,521,551,061.01 $ 2,417,353,617.97
Note Pool Factor 0.8171334 0.7833672
Class A-1 Notes Balance 0.00 0.00
Class A-1 Notes Pool Factor 0.0000000 0.0000000
Class A-2 Notes Balance 261,701,061.01 157,503,617.97
Class A-2 Notes Pool Factor 0.7477173 0.4500103
Class A-3 Notes Balance 1,039,000,000.00 1,039,000,000.00
Class A-3 Notes Pool Factor 1.0000000 1.0000000
Class A-4 Notes Balance 610,650,000.00 610,650,000.00
Class A-4 Notes Pool Factor 1.0000000 1.0000000
Class A-5 Notes Balance 250,000,000.00 250,000,000.00
Class A-5 Notes Pool Factor 1.0000000 1.0000000
Class A-6 Notes Balance 250,000,000.00 250,000,000.00
Class A-6 Notes Pool Factor 1.0000000 1.0000000
Class B Notes Balance 110,200,000.00 110,200,000.00
Class B Notes Pool Factor 1.0000000 1.0000000
Class C Certificates Balance 62,975,000.00 62,975,000.00
Class C Certificates Pool Factor 1.0000000 1.0000000
Class D Certificates Balance 62,975,000.00 62,975,000.00
Class D Certificates Pool Factor 1.0000000 1.0000000
Total Note and Cert. Balance 2,647,501,061.01 2,543,303,617.97
Portfolio Information:
Wtd Average Coupon (WAC) 7.17% 7.17%
Wtd Average Remaining Maturity (WAM) 40.20 39.31
Remaining Number of Receivables 226,909 223,056
Portfolio Receivable Balance $ 2,749,463,410.88 $ 2,646,170,926.02
IV. OVERCOLLATERALIZATION INFORMATION
Specified Overcollateralization Amount $ 9,961,674.19
Specified Credit Enhancement Amount 26,461,709.26
Yield Supplement Overcollateralization Amount 113,572,139.50
Target Level of Overcollateralization 123,533,813.69
V. RECONCILIATION OF RESERVE ACCOUNT
Beginning Reserve Account Balance $ 16,500,035.07
Specified Reserve Account Balance 16,500,035.07
Reserve Release Amount 0.00
Reserve Account Draws 0.00
Interim Reserve Account Balance 16,500,035.07
Reserve Account Deposits Made 0.00
Ending Reserve Account Balance 16,500,035.07
Change in Reserve Account Balance 0.00
VI. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY
Liquidated Contracts:
Liquidation Proceeds $ 531,784.74
Recoveries from Prior Month Charge-Offs 3,019.38
Total Losses for Collection Period 1,282,038.98
Charge-off Rate for Collection Period (annualized) 0.33%
Cumulative Net Losses for all Periods 1,931,984.61
Delinquent Receivables:
31-60 Days Delinquent $ 12,796,483.09
61-90 Days Delinquent 1,229,776.92
91-120 Days Delinquent 265,518.59
Over 120 Days Delinquent 100,653.38
Repossesion Inventory $ 1,700,000.02
Ratio of Net Losses to the Average Pool Balance:
Second Preceding Collection Period 0.1054%
Preceding Collection Period 0.2130%
Current Collection Period 0.3324%
Three Month Average 0.2169%
Ratio of 60+ Delinquent Contracts to Outstanding Receivables
Second Preceding Collection Period 0.0334%
Preceding Collection Period 0.0432%
Current Collection Period 0.0533%
Three Month Average 0.0433%
Exhibit 19.3
Ford Motor Credit Company
Ford Credit Auto Owner Trust 1999-C
Monthly Servicing Report
Collection Period October, 1999
Distribution Date 11/15/99
Dollar Amount
Total Portfolio $ 3,299,999,864.04
Total Securities 3,189,915,000.00
Class A-1 Notes 250,000,000.00
Class A-2 Notes 588,000,000.00
Class A-3 Notes 990,000,000.00
Class A-4 Notes 627,366,000.00
Class A-5 Notes 250,000,000.00
Class A-6 Notes 250,000,000.00
Class B Notes 109,457,000.00
Class C Certificates 62,546,000.00
Class D Certificates 62,546,000.00
I. COLLECTIONS
Interest:
Simple Interest Receivables Interest
Interest Collections $ 14,699,419.26
Repurchased Loan Proceeds Related to Interest 20,781.14
Total Simple Interest Receivables Interest 14,720,200.40
Pre Computed Receivables Interest Collections 335,405.62
Total Interest Collections 15,055,606.02
Servicer Advances:
Simple Interest Servicer Advances $ 2,818,462.55
Precomputed Servicer Advances - Principal 115,979.08
Precomputed Servicer Advances - Interest 22,822.07
Total Servicer Advances 2,957,263.70
Principal:
Simple Interest Receivables Principal
Principal Collections $ 64,590,618.91
Prepayments in Full 33,357,579.97
Repurchased Loan Proceeds Related to Principal 1,470,980.75
Other Refunds Related to Principal 16,148.86
Total Simple Interest Receivables Principal 99,435,328.49
Pre Computed Receivables Principal
Principal Collections $ 1,890,445.24
Prepayments in Full 967,704.51
Prepayments in Full Due to Administrative Repurchases 5,958.73
Payahead Draws 130,483.40
Total Pre Computed Receivables Principal 2,994,591.88
Liquidation Proceeds 427,588.60
Recoveries from Prior Month Charge-Offs 1,155.66
Total Principal Collections 102,858,664.63
Principal Losses for Collection Period 838,860.05
Total Regular Principal Reduction 103,384,759.50
Total Collections $ 120,871,534.35
Amount
Per $1,000
of Original
II. DISTRIBUTIONS Amount Principal
Total Collections $ 120,871,534.35 $ 37.89
Reserve Account Release 0.00 0.00
Reserve Account Draw 0.00 0.00
Total Available for Distribution 120,871,534.35 37.89
Servicing Fee:
Servicing Fee Due $ 2,479,999.54 $ 0.78
Servicing Fee Paid 2,479,999.54 0.78
Servicing Fee Shortfall 0.00 0.00
Interest:
Class A-1 Notes Monthly Interest
Class A-1 Notes Monthly Interest Due $ 0.00 $ 0.00
Class A-1 Notes Monthly Interest Paid 0.00 0.00
Class A-1 Notes Monthly Interest Shortfall 0.00 0.00
Class A-1 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-1 Notes Int. Carryover Shortfall 0.00 0.00
Class A-2 Notes Monthly Interest
Class A-2 Notes Monthly Interest Due $ 2,317,502.33 $ 3.94
Class A-2 Notes Monthly Interest Paid 2,317,502.33 3.94
Class A-2 Notes Monthly Interest Shortfall 0.00 0.00
Class A-2 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-2 Notes Int. Carryover Shortfall 0.00 0.00
Class A-3 Notes Monthly Interest
Class A-3 Notes Monthly Interest Due $ 4,760,250.00 $ 4.81
Class A-3 Notes Monthly Interest Paid 4,760,250.00 4.81
Class A-3 Notes Monthly Interest Shortfall 0.00 0.00
Class A-3 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-3 Notes Int. Carryover Shortfall 0.00 0.00
Class A-4 Notes Monthly Interest
Class A-4 Notes Monthly Interest Due $ 3,178,654.40 $ 5.07
Class A-4 Notes Monthly Interest Paid 3,178,654.40 5.07
Class A-4 Notes Monthly Interest Shortfall 0.00 0.00
Class A-4 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-4 Notes Int. Carryover Shortfall 0.00 0.00
Class A-5 Notes Monthly Interest
Class A-5 Notes Monthly Interest Due $ 1,291,666.67 $ 5.17
Class A-5 Notes Monthly Interest Paid 1,291,666.67 5.17
Class A-5 Notes Monthly Interest Shortfall 0.00 0.00
Class A-5 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-5 Notes Int. Carryover Shortfall 0.00 0.00
Class A-6 Notes Monthly Interest
Class A-6 Notes Monthly Interest Due $ 1,306,250.00 $ 5.23
Class A-6 Notes Monthly Interest Paid 1,306,250.00 5.23
Class A-6 Notes Monthly Interest Shortfall 0.00 0.00
Class A-6 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-6 Notes Int. Carryover Shortfall 0.00 0.00
Class B Notes Monthly Interest
Class B Notes Monthly Interest Due $ 585,594.95 $ 5.35
Class B Notes Monthly Interest Paid 585,594.95 5.35
Class B Notes Monthly Interest Shortfall 0.00 0.00
Class B Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class B Notes Int. Carryover Shortfall 0.00 0.00
Total Note Monthly Interest
Total Note Monthly Interest Due $ 13,439,918.35 $ 4.39
Total Note Monthly Interest Paid 13,439,918.35 4.39
Total Note Monthly Interest Shortfall 0.00 0.00
Total Note Interest Carryover Shortfall 0.00 0.00
Chg in Total Note Int. Carryover Shortfall 0.00 0.00
Class C Certificates Monthly Interest
Class C Cert. Monthly Interest Due $ 351,821.25 $ 5.63
Class C Cert. Monthly Interest Paid 351,821.25 5.63
Class C Cert. Monthly Interest Shortfall 0.00 0.00
Class C Cert. Interest Carryover Shortfall 0.00 0.00
Chg in Class C Cert. Int. Carryover Shortfall 0.00 0.00
Class D Certificates Monthly Interest
Class D Cert. Monthly Interest Due $ 416,973.33 $ 6.67
Class D Cert. Monthly Interest Paid 416,973.33 6.67
Class D Cert. Monthly Interest Shortfall 0.00 0.00
Class D Cert. Interest Carryover Shortfall 0.00 0.00
Chg in Class D Cert. Int. Carryover Shortfall 0.00 0.00
Total Note and Certificate Monthly Interest
Total Note and Cert. Mthly Int. Due $ 14,208,712.93 $ 4.45
Total Note and Cert. Mthly Int. Paid 14,208,712.93 4.45
Total Note and Cert. Mthly Int. Shortfall 0.00 0.00
Total Note and Cert. Int. Carryover Shortfall 0.00 0.00
Change in Total Note and Certificate Interest
Carryover Shortfall $ 0.00 $ 0.00
Total Available for Principal Distribution $ 104,182,821.88
Principal:
Principal Distribution Amounts
First Priority Distribution Amount $ 0.00 $ 0.00
Second Priority Distribution Amount 1,252,998.90 0.39
Regular Principal Distribution Amount 501,698,417.37 157.28
Principal Distribution Amount 502,951,416.27 157.67
Principal Distribution Amounts Paid
Class A-1 Notes Monthly Principal Paid $ 0.00 $ 0.00
Class A-2 Notes Monthly Principal Paid 104,182,821.88 177.18
Class A-3 Notes Monthly Principal Paid 0.00 0.00
Class A-4 Notes Monthly Principal Paid 0.00 0.00
Class A-5 Notes Monthly Principal Paid 0.00 0.00
Class A-6 Notes Monthly Principal Paid 0.00 0.00
Class B Notes Monthly Principal Paid 0.00 0.00
Total Note Principal Paid 104,182,821.88 33.99
Class C Cert. Monthly Principal Paid $ 0.00 $ 0.00
Class D Cert. Monthly Principal Paid 0.00 0.00
Total Monthly Principal Paid 104,182,821.88 32.66
Collections Released to Servicer $ 0.00
Total Available for Distribution $ 120,871,534.35
Total Distributions (incl. Servicing Fee) $ 120,871,534.35
III. POOL BALANCE AND PORTFOLIO INFORMATION
Balances and Pool Factors: Beginning Ending
Aggregate Balance of Notes $ 2,729,774,416.27 $ 2,625,591,594.39
Note Pool Factor 0.8906793 0.8566862
Class A-1 Notes Balance 0.00 0.00
Class A-1 Notes Pool Factor 0.0000000 0.0000000
Class A-2 Notes Balance 502,951,416.27 398,768,594.39
Class A-2 Notes Pool Factor 0.8553596 0.6781779
Class A-3 Notes Balance 990,000,000.00 990,000,000.00
Class A-3 Notes Pool Factor 1.0000000 1.0000000
Class A-4 Notes Balance 627,366,000.00 627,366,000.00
Class A-4 Notes Pool Factor 1.0000000 1.0000000
Class A-5 Notes Balance 250,000,000.00 250,000,000.00
Class A-5 Notes Pool Factor 1.0000000 1.0000000
Class A-6 Notes Balance 250,000,000.00 250,000,000.00
Class A-6 Notes Pool Factor 1.0000000 1.0000000
Class B Notes Balance 109,457,000.00 109,457,000.00
Class B Notes Pool Factor 1.0000000 1.0000000
Class C Certificates Balance 62,546,000.00 62,546,000.00
Class C Certificates Pool Factor 1.0000000 1.0000000
Class D Certificates Balance 62,546,000.00 62,546,000.00
Class D Certificates Pool Factor 1.0000000 1.0000000
Total Note and Cert. Balance 2,854,866,416.27 2,750,683,594.39
Portfolio Information:
Wtd Average Coupon (WAC) 7.19% 7.19%
Wtd Average Remaining Maturity (WAM) 42.43 41.53
Remaining Number of Receivables 231,846 228,331
Portfolio Receivable Balance $ 2,975,999,448.35 $ 2,872,614,688.85
IV. OVERCOLLATERALIZATION INFORMATION
Specified Overcollateralization Amount $ 12,226,147.57
Specified Credit Enhancement Amount 28,726,146.89
Yield Supplement Overcollateralization Amount 144,093,271.48
Target Level of Overcollateralization 156,319,419.05
V. RECONCILIATION OF RESERVE ACCOUNT
Beginning Reserve Account Balance $ 16,499,999.32
Specified Reserve Account Balance 16,499,999.32
Reserve Release Amount 0.00
Reserve Account Draws 0.00
Interim Reserve Account Balance 16,499,999.32
Reserve Account Deposits Made 0.00
Ending Reserve Account Balance 16,499,999.32
Change in Reserve Account Balance 0.00
VI. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY
Liquidated Contracts:
Liquidation Proceeds $ 427,588.60
Recoveries from Prior Month Charge-Offs 1,155.66
Total Losses for Collection Period 934,596.26
Charge-off Rate for Collection Period (annualized) 0.20%
Cumulative Net Losses for all Periods 886,231.57
Delinquent Receivables:
31-60 Days Delinquent $ 12,529,361.72
61-90 Days Delinquent 975,470.58
91-120 Days Delinquent 255,718.64
Over 120 Days Delinquent 0.00
Repossesion Inventory $ 1,159,860.33
Ratio of Net Losses to the Average Pool Balance:
Second Preceding Collection Period 0.0309%
Preceding Collection Period 0.1038%
Current Collection Period 0.2076%
Three Month Average 0.1141%
Ratio of 60+ Delinquent Contracts to Outstanding Receivables
Second Preceding Collection Period 0.0021%
Preceding Collection Period 0.0263%
Current Collection Period 0.0412%
Three Month Average 0.0232%
Exhibit 19.4
Ford Motor Credit Company
Ford Credit Auto Owner Trust 1999-D
Monthly Servicing Report
Collection Period October, 1999
Distribution Date 11/15/99
Dollar Amount
Total Portfolio $ 3,300,023,039.40
Total Securities 3,195,129,000.00
Class A-1 Notes 153,000,000.00
Class A-2 Notes 449,000,000.00
Class A-3 Notes 1,370,000,000.00
Class A-4 Notes 400,000,000.00
Class A-5 Notes 588,189,000.00
Class B Notes 109,640,000.00
Class C Certificates 62,650,000.00
Class D Certificates 62,650,000.00
I. COLLECTIONS
Interest:
Simple Interest Receivables Interest
Interest Collections $ 16,522,417.87
Repurchased Loan Proceeds Related to Interest 10,444.75
Total Simple Interest Receivables Interest 16,532,862.62
Pre Computed Receivables Interest Collections 133,969.41
Total Interest Collections 16,666,832.03
Servicer Advances:
Simple Interest Servicer Advances $ 3,214,320.05
Precomputed Servicer Advances - Principal 52,584.06
Precomputed Servicer Advances - Interest 12,127.21
Total Servicer Advances 3,279,031.32
Principal:
Simple Interest Receivables Principal
Principal Collections $ 65,467,087.50
Prepayments in Full 33,099,710.42
Repurchased Loan Proceeds Related to Principal 1,293,632.88
Total Simple Interest Receivables Principal 99,860,430.80
Pre Computed Receivables Principal
Principal Collections $ 730,387.99
Prepayments in Full 404,905.68
Prepayments in Full Due to Administrative Repurchases 0.00
Payahead Draws 38,973.35
Total Pre Computed Receivables Principal 1,174,267.02
Liquidation Proceeds 30,967.51
Recoveries from Prior Month Charge-Offs 0.00
Total Principal Collections 101,065,665.33
Principal Losses for Collection Period 75,948.46
Total Regular Principal Reduction 101,163,230.34
Total Collections $ 121,011,528.68
Amount
Per $1,000
of Original
II. DISTRIBUTIONS Amount Principal
Total Collections $ 121,011,528.68 $ 37.87
Reserve Account Release 0.00 0.00
Reserve Account Draw 0.00 0.00
Total Available for Distribution 121,011,528.68 37.87
Servicing Fee:
Servicing Fee Due $ 2,668,017.38 $ 0.84
Servicing Fee Paid 2,668,017.38 0.84
Servicing Fee Shortfall 0.00 0.00
Interest:
Class A-1 Notes Monthly Interest
Class A-1 Notes Monthly Interest Due $ 229,000.93 $ 1.50
Class A-1 Notes Monthly Interest Paid 229,000.93 1.50
Class A-1 Notes Monthly Interest Shortfall 0.00 0.00
Class A-1 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-1 Notes Int. Carryover Shortfall 0.00 0.00
Class A-2 Notes Monthly Interest
Class A-2 Notes Monthly Interest Due $ 2,248,691.78 $ 5.01
Class A-2 Notes Monthly Interest Paid 2,248,691.78 5.01
Class A-2 Notes Monthly Interest Shortfall 0.00 0.00
Class A-2 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-2 Notes Int. Carryover Shortfall 0.00 0.00
Class A-3 Notes Monthly Interest
Class A-3 Notes Monthly Interest Due $ 7,078,333.33 $ 5.17
Class A-3 Notes Monthly Interest Paid 7,078,333.33 5.17
Class A-3 Notes Monthly Interest Shortfall 0.00 0.00
Class A-3 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-3 Notes Int. Carryover Shortfall 0.00 0.00
Class A-4 Notes Monthly Interest
Class A-4 Notes Monthly Interest Due $ 2,133,333.33 $ 5.33
Class A-4 Notes Monthly Interest Paid 2,133,333.33 5.33
Class A-4 Notes Monthly Interest Shortfall 0.00 0.00
Class A-4 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-4 Notes Int. Carryover Shortfall 0.00 0.00
Class A-5 Notes Monthly Interest
Class A-5 Notes Monthly Interest Due $ 3,195,826.90 $ 5.43
Class A-5 Notes Monthly Interest Paid 3,195,826.90 5.43
Class A-5 Notes Monthly Interest Shortfall 0.00 0.00
Class A-5 Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class A-5 Notes Int. Carryover Shortfall 0.00 0.00
Class B Notes Monthly Interest
Class B Notes Monthly Interest Due $ 627,689.00 $ 5.73
Class B Notes Monthly Interest Paid 627,689.00 5.73
Class B Notes Monthly Interest Shortfall 0.00 0.00
Class B Notes Interest Carryover Shortfall 0.00 0.00
Chg in Class B Notes Int. Carryover Shortfall 0.00 0.00
Total Note Monthly Interest
Total Note Monthly Interest Due $ 15,512,875.27 $ 5.05
Total Note Monthly Interest Paid 15,512,875.27 5.05
Total Note Monthly Interest Shortfall 0.00 0.00
Total Note Interest Carryover Shortfall 0.00 0.00
Chg in Total Note Int. Carryover Shortfall 0.00 0.00
Class C Certificates Monthly Interest
Class C Cert. Monthly Interest Due $ 376,422.08 $ 6.01
Class C Cert. Monthly Interest Paid 376,422.08 6.01
Class C Cert. Monthly Interest Shortfall 0.00 0.00
Class C Cert. Interest Carryover Shortfall 0.00 0.00
Chg in Class C Cert. Int. Carryover Shortfall 0.00 0.00
Class D Certificates Monthly Interest
Class D Cert. Monthly Interest Due $ 417,666.67 $ 6.67
Class D Cert. Monthly Interest Paid 417,666.67 6.67
Class D Cert. Monthly Interest Shortfall 0.00 0.00
Class D Cert. Interest Carryover Shortfall 0.00 0.00
Chg in Class D Cert. Int. Carryover Shortfall 0.00 0.00
Total Note and Certificate Monthly Interest
Total Note and Cert. Mthly Int. Due $ 16,306,964.02 $ 5.10
Total Note and Cert. Mthly Int. Paid 16,306,964.02 5.10
Total Note and Cert. Mthly Int. Shortfall 0.00 0.00
Total Note and Cert. Int. Carryover Shortfall 0.00 0.00
Change in Total Note and Certificate Interest
Carryover Shortfall $ 0.00 $ 0.00
Total Available for Principal Distribution $ 102,036,547.28
Principal:
Principal Distribution Amounts
First Priority Distribution Amount $ 0.00 $ 0.00
Second Priority Distribution Amount 19,110,750.36 5.98
Regular Principal Distribution Amount 479,036,647.20 149.93
Principal Distribution Amount 498,147,397.56 155.91
Principal Distribution Amounts Paid
Class A-1 Notes Monthly Principal Paid $ 49,147,397.56 $ 321.22
Class A-2 Notes Monthly Principal Paid 52,889,149.72 117.79
Class A-3 Notes Monthly Principal Paid 0.00 0.00
Class A-4 Notes Monthly Principal Paid 0.00 0.00
Class A-5 Notes Monthly Principal Paid 0.00 0.00
Class B Notes Monthly Principal Paid 0.00 0.00
Total Note Principal Paid 102,036,547.28 33.24
Class C Cert. Monthly Principal Paid $ 0.00 $ 0.00
Class D Cert. Monthly Principal Paid 0.00 0.00
Total Monthly Principal Paid 102,036,547.28 31.94
Collections Released to Servicer $ 0.00
Total Available for Distribution $ 121,011,528.68
Total Distributions (incl. Servicing Fee) $ 121,011,528.68
III. POOL BALANCE AND PORTFOLIO INFORMATION
Balances and Pool Factors: Beginning Ending
Aggregate Balance of Notes $ 2,965,976,397.56 $ 2,863,939,850.28
Note Pool Factor 0.9661699 0.9329314
Class A-1 Notes Balance 49,147,397.56 0.00
Class A-1 Notes Pool Factor 0.3212248 0.0000000
Class A-2 Notes Balance 449,000,000.00 396,110,850.28
Class A-2 Notes Pool Factor 1.0000000 0.8822068
Class A-3 Notes Balance 1,370,000,000.00 1,370,000,000.00
Class A-3 Notes Pool Factor 1.0000000 1.0000000
Class A-4 Notes Balance 400,000,000.00 400,000,000.00
Class A-4 Notes Pool Factor 1.0000000 1.0000000
Class A-5 Notes Balance 588,189,000.00 588,189,000.00
Class A-5 Notes Pool Factor 1.0000000 1.0000000
Class B Notes Balance 109,640,000.00 109,640,000.00
Class B Notes Pool Factor 1.0000000 1.0000000
Class C Certificates Balance 62,650,000.00 62,650,000.00
Class C Certificates Pool Factor 1.0000000 1.0000000
Class D Certificates Balance 62,650,000.00 62,650,000.00
Class D Certificates Pool Factor 1.0000000 1.0000000
Total Note and Cert. Balance 3,091,276,397.56 2,989,239,850.28
Portfolio Information:
Wtd Average Coupon (WAC) 7.44% 7.44%
Wtd Average Remaining Maturity (WAM) 45.23 44.33
Remaining Number of Receivables 233,868 230,740
Portfolio Receivable Balance $ 3,201,620,857.66 $ 3,100,457,274.27
IV. OVERCOLLATERALIZATION INFORMATION
Specified Overcollateralization Amount $ 14,504,457.54
Specified Credit Enhancement Amount 31,004,572.74
Yield Supplement Overcollateralization Amount 153,591,627.07
Target Level of Overcollateralization 168,096,084.61
V. RECONCILIATION OF RESERVE ACCOUNT
Beginning Reserve Account Balance $ 16,500,115.20
Specified Reserve Account Balance 16,500,115.20
Reserve Release Amount 0.00
Reserve Account Draws 0.00
Interim Reserve Account Balance 16,500,115.20
Reserve Account Deposits Made 0.00
Ending Reserve Account Balance 16,500,115.20
Change in Reserve Account Balance 0.00
VI. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY
Liquidated Contracts:
Liquidation Proceeds $ 30,967.51
Recoveries from Prior Month Charge-Offs 0.00
Total Losses for Collection Period 137,814.41
Charge-off Rate for Collection Period (annualized) 0.04%
Cumulative Net Losses for all Periods
Delinquent Receivables:
31-60 Days Delinquent $ 10,503,624.15
61-90 Days Delinquent 63,524.52
91-120 Days Delinquent 0.00
Over 120 Days Delinquent 29,274.39
Repossesion Inventory $ 439,711.68
Ratio of Net Losses to the Average Pool Balance:
Second Preceding Collection Period 0.0000%
Preceding Collection Period 0.0163%
Current Collection Period 0.0407%
Three Month Average 0.0000%
Ratio of 60+ Delinquent Contracts to Outstanding Receivables
Second Preceding Collection Period 0.0000%
Preceding Collection Period 0.0017%
Current Collection Period 0.0026%
Three Month Average 0.0000%
