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) November 30, 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
November 30, 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
November 30, 1999.
Exhibit 19.2 Ford Credit Auto Owner Filed with
Trust Series 1999-B this Report.
Servicing Report for the
Collection Period ended
November 30, 1999.
Exhibit 19.3 Ford Credit Auto Owner Filed with
Trust Series 1999-C this Report.
Servicing Report for the
Collection Period ended
November 30, 1999.
Exhibit 19.4 Ford Credit Auto Owner Filed with
Trust Series 1999-D this Report.
Servicing Report for the
Collection Period ended
November 30, 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: December 9, 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
November 30, 1999.
Exhibit 19.2 Ford Credit Auto Owner
Trust Series 1999-B
Servicing Report for the
Collection Period ended
November 30, 1999.
Exhibit 19.3 Ford Credit Auto Owner
Trust Series 1999-C
Servicing Report for the
Collection Period ended
November 30, 1999.
Exhibit 19.4 Ford Credit Auto Owner
Trust Series 1999-D
Servicing Report for the
Collection Period ended
November 30, 1999.
Exhibit 19.1
Ford Motor Credit Company
Ford Credit Auto Owner Trust 1999-A
Monthly Servicing Report
Collection Period November, 1999
Distribution Date 12/15/99
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 $ 8,357,245.60
Repurchased Loan Proceeds Related to Interest 11,757.57
Total Simple Interest Receivables Interest 8,369,003.17
Pre Computed Receivables Interest Collections 427,110.33
Total Interest Collections 8,796,113.50
Servicer Advances:
Simple Interest Servicer Advances $ 1,437,818.90
Precomputed Servicer Advances - Principal 115,146.01
Precomputed Servicer Advances - Interest 23,029.41
Total Servicer Advances 1,575,994.32
Principal:
Simple Interest Receivables Principal
Principal Collections $ 32,621,790.39
Prepayments in Full 20,969,613.39
Repurchased Loan Proceeds Related to Principal 858,622.77
Other Refunds Related to Principal 6,368.09
Total Simple Interest Receivables Principal 54,456,394.64
Pre Computed Receivables Principal
Principal Collections $ 2,332,773.63
Prepayments in Full 1,213,097.07
Prepayments in Full Due to Administrative Repurchases 11,342.17
Payahead Draws 138,320.25
Total Pre Computed Receivables Principal 3,695,533.12
Liquidation Proceeds 631,126.45
Recoveries from Prior Month Charge-Offs 9,892.53
Total Principal Collections 58,792,946.74
Principal Losses for Collection Period 1,584,800.08
Total Regular Principal Reduction 59,851,873.85
Total Collections $ 69,165,054.56
Amount
Per $1,000
of Original
II. DISTRIBUTIONS Amount Principal
Total Collections $ 69,165,054.56 $ 34.55
Reserve Account Release 0.00 0.00
Reserve Account Draw 0.00 0.00
Total Available for Distribution 69,165,054.56 34.55
Servicing Fee:
Servicing Fee Due $ 1,143,165.46 $ 0.57
Servicing Fee Paid 1,143,165.46 0.57
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 $ 1,671,942.50 $ 3.38
Class A-3 Notes Monthly Interest Paid 1,671,942.50 3.38
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 $ 5,639,731.51 $ 2.93
Total Note Monthly Interest Paid 5,639,731.51 2.93
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 $ 6,114,704.91 $ 3.05
Total Note and Cert. Mthly Int. Paid 6,114,704.91 3.05
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 $ 61,907,184.19
Principal:
Principal Distribution Amounts
First Priority Distribution Amount $ 0.00 $ 0.00
Second Priority Distribution Amount 0.00 0.00
Regular Principal Distribution Amount 57,685,415.95 28.81
Principal Distribution Amount 57,685,415.95 28.81
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 57,685,415.95 116.54
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 57,685,415.95 29.99
Class C Cert. Monthly Principal Paid $ 0.00 $ 0.00
Class D Cert. Monthly Principal Paid 0.00 0.00
Total Monthly Principal Paid 57,685,415.95 28.81
Collections Released to Servicer $ 4,221,768.24
Total Available for Distribution $ 69,165,054.56
Total Distributions (incl. Servicing Fee) $ 69,165,054.56
III. POOL BALANCE AND PORTFOLIO INFORMATION
Balances and Pool Factors: Beginning Ending
Aggregate Balance of Notes $ 1,260,302,112.45 $ 1,202,616,696.50
Note Pool Factor 0.6552259 0.6252355
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 377,840,112.45 320,154,696.50
Class A-3 Notes Pool Factor 0.7633134 0.6467772
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 1,338,810,112.45 1,281,124,696.50
Portfolio Information:
Wtd Average Coupon (WAC) 8.94% 8.94%
Wtd Average Remaining Maturity (WAM) 38.50 37.63
Remaining Number of Receivables 118,983 116,344
Portfolio Receivable Balance $ 1,371,798,551.61 $ 1,311,946,677.76
IV. OVERCOLLATERALIZATION INFORMATION
Specified Overcollateralization Amount $ 3,069,359.38
Specified Credit Enhancement Amount 13,119,466.78
Yield Supplement Overcollateralization Amount 27,752,621.88
Target Level of Overcollateralization 30,821,981.26
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 $ 631,126.45
Recoveries from Prior Month Charge-Offs 9,892.53
Total Losses for Collection Period 1,714,029.76
Charge-off Rate for Collection Period (annualized) 0.94%
Cumulative Net Losses for all Periods 4,949,127.21
Delinquent Receivables:
31-60 Days Delinquent $ 11,663,306.68
61-90 Days Delinquent 1,763,630.45
91-120 Days Delinquent 427,062.09
Over 120 Days Delinquent 210,536.24
Repossesion Inventory $ 2,023,201.20
Ratio of Net Losses to the Average Pool Balance:
Second Preceding Collection Period 0.5435%
Preceding Collection Period 0.6568%
Current Collection Period 0.9596%
Three Month Average 0.7200%
Ratio of 60+ Delinquent Contracts to Outstanding Receivables
Second Preceding Collection Period 0.1045%
Preceding Collection Period 0.1261%
Current Collection Period 0.1392%
Three Month Average 0.1233%
Exhibit 19.2
Ford Motor Credit Company
Ford Credit Auto Owner Trust 1999-B
Monthly Servicing Report
Collection Period November, 1999
Distribution Date 12/15/99
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 $ 13,251,131.47
Repurchased Loan Proceeds Related to Interest 18,120.86
Total Simple Interest Receivables Interest 13,269,252.33
Pre Computed Receivables Interest Collections 481,206.56
Total Interest Collections 13,750,458.89
Servicer Advances:
Simple Interest Servicer Advances $ 2,088,147.21
Precomputed Servicer Advances - Principal 167,945.34
Precomputed Servicer Advances - Interest 29,460.28
Total Servicer Advances 2,285,552.83
Principal:
Simple Interest Receivables Principal
Principal Collections $ 63,947,090.85
Prepayments in Full 34,263,551.18
Repurchased Loan Proceeds Related to Principal 1,250,139.54
Other Refunds Related to Principal 13,672.80
Total Simple Interest Receivables Principal 99,474,454.37
Pre Computed Receivables Principal
Principal Collections $ 3,204,715.68
Prepayments in Full 1,457,320.22
Prepayments in Full Due to Administrative Repurchases 21,913.34
Payahead Draws 144,460.61
Total Pre Computed Receivables Principal 4,828,409.85
Liquidation Proceeds 625,226.00
Recoveries from Prior Month Charge-Offs 7,465.87
Total Principal Collections 104,935,556.09
Principal Losses for Collection Period 1,337,244.15
Total Regular Principal Reduction 105,808,053.71
Total Collections $ 120,971,567.81
Amount
Per $1,000
of Original
II. DISTRIBUTIONS Amount Principal
Total Collections $ 120,971,567.81 $ 37.66
Reserve Account Release 0.00 0.00
Reserve Account Draw 0.00 0.00
Total Available for Distribution 120,971,567.81 37.66
Servicing Fee:
Servicing Fee Due $ 2,205,142.44 $ 0.69
Servicing Fee Paid 2,205,142.44 0.69
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 $ 671,227.92 $ 1.92
Class A-2 Notes Monthly Interest Paid 671,227.92 1.92
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 $ 11,403,671.25 $ 3.70
Total Note Monthly Interest Paid 11,403,671.25 3.70
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 $ 12,172,491.04 $ 3.79
Total Note and Cert. Mthly Int. Paid 12,172,491.04 3.79
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 $ 106,593,934.33
Principal:
Principal Distribution Amounts
First Priority Distribution Amount $ 0.00 $ 0.00
Second Priority Distribution Amount 0.00 0.00
Regular Principal Distribution Amount 157,503,617.97 49.04
Principal Distribution Amount 157,503,617.97 49.04
Principal Distribution Amounts Paid
Class A-1 Notes Monthly Principal Paid $ 0.00 $ 0.00
Class A-2 Notes Monthly Principal Paid 106,593,934.33 304.55
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 106,593,934.33 34.54
Class C Cert. Monthly Principal Paid $ 0.00 $ 0.00
Class D Cert. Monthly Principal Paid 0.00 0.00
Total Monthly Principal Paid 106,593,934.33 33.19
Collections Released to Servicer $ 0.00
Total Available for Distribution $ 120,971,567.81
Total Distributions (incl. Servicing Fee) $ 120,971,567.81
III. POOL BALANCE AND PORTFOLIO INFORMATION
Balances and Pool Factors: Beginning Ending
Aggregate Balance of Notes $ 2,417,353,617.97 $ 2,310,759,683.64
Note Pool Factor 0.7833672 0.7488244
Class A-1 Notes Balance 0.00 0.00
Class A-1 Notes Pool Factor 0.0000000 0.0000000
Class A-2 Notes Balance 157,503,617.97 50,909,683.64
Class A-2 Notes Pool Factor 0.4500103 0.1454562
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 2,543,303,617.97 2,436,709,683.64
Portfolio Information:
Wtd Average Coupon (WAC) 7.17% 7.17%
Wtd Average Remaining Maturity (WAM) 39.31 38.43
Remaining Number of Receivables 223,056 219,107
Portfolio Receivable Balance $ 2,646,170,926.02 $ 2,540,362,872.31
IV. OVERCOLLATERALIZATION INFORMATION
Specified Overcollateralization Amount $ 8,903,593.65
Specified Credit Enhancement Amount 25,403,628.72
Yield Supplement Overcollateralization Amount 107,814,891.73
Target Level of Overcollateralization 116,718,485.38
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 $ 625,226.00
Recoveries from Prior Month Charge-Offs 7,465.87
Total Losses for Collection Period 1,476,537.22
Charge-off Rate for Collection Period (annualized) 0.38%
Cumulative Net Losses for all Periods 2,775,829.96
Delinquent Receivables:
31-60 Days Delinquent $ 14,005,040.89
61-90 Days Delinquent 1,380,885.21
91-120 Days Delinquent 317,237.21
Over 120 Days Delinquent 81,836.82
Repossesion Inventory $ 1,876,708.70
Ratio of Net Losses to the Average Pool Balance:
Second Preceding Collection Period 0.2130%
Preceding Collection Period 0.3324%
Current Collection Period 0.3905%
Three Month Average 0.3119%
Ratio of 60+ Delinquent Contracts to Outstanding Receivables
Second Preceding Collection Period 0.0432%
Preceding Collection Period 0.0533%
Current Collection Period 0.0675%
Three Month Average 0.0547%
Exhibit 19.3
Ford Motor Credit Company
Ford Credit Auto Owner Trust 1999-C
Monthly Servicing Report
Collection Period November, 1999
Distribution Date 12/15/99
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 $ 14,616,778.47
Repurchased Loan Proceeds Related to Interest 16,406.77
Total Simple Interest Receivables Interest 14,633,185.24
Pre Computed Receivables Interest Collections 319,479.56
Total Interest Collections 14,952,664.80
Servicer Advances:
Simple Interest Servicer Advances $ 2,305,082.99
Precomputed Servicer Advances - Principal 104,085.93
Precomputed Servicer Advances - Interest 21,892.73
Total Servicer Advances 2,431,061.65
Principal:
Simple Interest Receivables Principal
Principal Collections $ 66,636,868.26
Prepayments in Full 36,305,367.07
Repurchased Loan Proceeds Related to Principal 1,090,418.56
Other Refunds Related to Principal 13,845.94
Total Simple Interest Receivables Principal 104,046,499.83
Pre Computed Receivables Principal
Principal Collections $ 1,906,377.87
Prepayments in Full 1,013,531.70
Prepayments in Full Due to Administrative Repurchases 23,676.25
Payahead Draws 82,630.60
Total Pre Computed Receivables Principal 3,026,216.42
Liquidation Proceeds 428,471.18
Recoveries from Prior Month Charge-Offs 6,390.92
Total Principal Collections 107,507,578.35
Principal Losses for Collection Period 928,956.19
Total Regular Principal Reduction 108,105,758.37
Total Collections $ 124,891,304.80
Amount
Per $1,000
of Original
II. DISTRIBUTIONS Amount Principal
Total Collections $ 124,891,304.80 $ 39.15
Reserve Account Release 0.00 0.00
Reserve Account Draw 0.00 0.00
Total Available for Distribution 124,891,304.80 39.15
Servicing Fee:
Servicing Fee Due $ 2,393,845.57 $ 0.75
Servicing Fee Paid 2,393,845.57 0.75
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 $ 1,778,175.62 $ 3.02
Class A-2 Notes Monthly Interest Paid 1,778,175.62 3.02
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 $ 12,900,591.64 $ 4.21
Total Note Monthly Interest Paid 12,900,591.64 4.21
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 $ 13,669,386.22 $ 4.29
Total Note and Cert. Mthly Int. Paid 13,669,386.22 4.29
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 $ 108,828,073.01
Principal:
Principal Distribution Amounts
First Priority Distribution Amount $ 0.00 $ 0.00
Second Priority Distribution Amount 0.00 0.00
Regular Principal Distribution Amount 398,768,594.39 125.01
Principal Distribution Amount 398,768,594.39 125.01
Principal Distribution Amounts Paid
Class A-1 Notes Monthly Principal Paid $ 0.00 $ 0.00
Class A-2 Notes Monthly Principal Paid 108,828,073.01 185.08
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 108,828,073.01 35.51
Class C Cert. Monthly Principal Paid $ 0.00 $ 0.00
Class D Cert. Monthly Principal Paid 0.00 0.00
Total Monthly Principal Paid 108,828,073.01 34.12
Collections Released to Servicer $ 0.00
Total Available for Distribution $ 124,891,304.80
Total Distributions (incl. Servicing Fee) $ 124,891,304.80
III. POOL BALANCE AND PORTFOLIO INFORMATION
Balances and Pool Factors: Beginning Ending
Aggregate Balance of Notes $ 2,625,591,594.39 $ 2,516,763,521.38
Note Pool Factor 0.8566862 0.8211774
Class A-1 Notes Balance 0.00 0.00
Class A-1 Notes Pool Factor 0.0000000 0.0000000
Class A-2 Notes Balance 398,768,594.39 289,940,521.38
Class A-2 Notes Pool Factor 0.6781779 0.4930961
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 2,750,683,594.39 2,641,855,521.38
Portfolio Information:
Wtd Average Coupon (WAC) 7.19% 7.19%
Wtd Average Remaining Maturity (WAM) 41.53 40.64
Remaining Number of Receivables 228,331 224,543
Portfolio Receivable Balance $ 2,872,614,688.85 $ 2,764,508,930.48
IV. OVERCOLLATERALIZATION INFORMATION
Specified Overcollateralization Amount $ 11,145,089.98
Specified Credit Enhancement Amount 27,645,089.30
Yield Supplement Overcollateralization Amount 137,343,665.06
Target Level of Overcollateralization 148,488,755.04
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 $ 428,471.18
Recoveries from Prior Month Charge-Offs 6,390.92
Total Losses for Collection Period 1,048,887.92
Charge-off Rate for Collection Period (annualized) 0.26%
Cumulative Net Losses for all Periods 1,500,257.39
Delinquent Receivables:
31-60 Days Delinquent $ 12,989,654.54
61-90 Days Delinquent 1,536,410.31
91-120 Days Delinquent 311,135.61
Over 120 Days Delinquent 111,012.16
Repossesion Inventory $ 1,307,740.99
Ratio of Net Losses to the Average Pool Balance:
Second Preceding Collection Period 0.1038%
Preceding Collection Period 0.2076%
Current Collection Period 0.2614%
Three Month Average 0.1909%
Ratio of 60+ Delinquent Contracts to Outstanding Receivables
Second Preceding Collection Period 0.0263%
Preceding Collection Period 0.0412%
Current Collection Period 0.0637%
Three Month Average 0.0437%
Exhibit 19.4
Ford Motor Credit Company
Ford Credit Auto Owner Trust 1999-D
Monthly Servicing Report
Collection Period November, 1999
Distribution Date 12/15/99
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 $ 16,467,779.76
Repurchased Loan Proceeds Related to Interest 15,500.69
Total Simple Interest Receivables Interest 16,483,280.45
Pre Computed Receivables Interest Collections 127,348.65
Total Interest Collections 16,610,629.10
Servicer Advances:
Simple Interest Servicer Advances $ 2,656,015.18
Precomputed Servicer Advances - Principal 46,656.82
Precomputed Servicer Advances - Interest 11,335.25
Total Servicer Advances 2,714,007.25
Principal:
Simple Interest Receivables Principal
Principal Collections $ 67,664,914.07
Prepayments in Full 33,080,281.14
Repurchased Loan Proceeds Related to Principal 1,349,465.29
Total Simple Interest Receivables Principal 102,094,660.50
Pre Computed Receivables Principal
Principal Collections $ 729,478.16
Prepayments in Full 301,377.60
Prepayments in Full Due to Administrative Repurchases 0.00
Payahead Draws 32,943.64
Total Pre Computed Receivables Principal 1,063,799.40
Liquidation Proceeds 155,860.80
Recoveries from Prior Month Charge-Offs 4,071.50
Total Principal Collections 103,318,392.20
Principal Losses for Collection Period 315,241.74
Total Regular Principal Reduction 103,520,358.46
Total Collections $ 122,643,028.55
Amount
Per $1,000
of Original
II. DISTRIBUTIONS Amount Principal
Total Collections $ 122,643,028.55 $ 38.38
Reserve Account Release 0.00 0.00
Reserve Account Draw 0.00 0.00
Total Available for Distribution 122,643,028.55 38.38
Servicing Fee:
Servicing Fee Due $ 2,583,714.40 $ 0.81
Servicing Fee Paid 2,583,714.40 0.81
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 $ 1,919,817.25 $ 4.28
Class A-2 Notes Monthly Interest Paid 1,919,817.25 4.28
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 $ 14,954,999.81 $ 4.87
Total Note Monthly Interest Paid 14,954,999.81 4.87
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 $ 15,749,088.56 $ 4.93
Total Note and Cert. Mthly Int. Paid 15,749,088.56 4.93
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 $ 104,310,225.59
Principal:
Principal Distribution Amounts
First Priority Distribution Amount $ 0.00 $ 0.00
Second Priority Distribution Amount 13,834,725.73 4.33
Regular Principal Distribution Amount 382,276,124.55 119.64
Principal Distribution Amount 396,110,850.28 123.97
Principal Distribution Amounts Paid
Class A-1 Notes Monthly Principal Paid $ 0.00 $ 0.00
Class A-2 Notes Monthly Principal Paid 104,310,225.59 232.32
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 104,310,225.59 33.98
Class C Cert. Monthly Principal Paid $ 0.00 $ 0.00
Class D Cert. Monthly Principal Paid 0.00 0.00
Total Monthly Principal Paid 104,310,225.59 32.65
Collections Released to Servicer $ 0.00
Total Available for Distribution $ 122,643,028.55
Total Distributions (incl. Servicing Fee) $ 122,643,028.55
III. POOL BALANCE AND PORTFOLIO INFORMATION
Balances and Pool Factors: Beginning Ending
Aggregate Balance of Notes $ 2,863,939,850.28 $ 2,759,629,624.69
Note Pool Factor 0.9329314 0.8989522
Class A-1 Notes Balance 0.00 0.00
Class A-1 Notes Pool Factor 0.0000000 0.0000000
Class A-2 Notes Balance 396,110,850.28 291,800,624.69
Class A-2 Notes Pool Factor 0.8822068 0.6498900
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 2,989,239,850.28 2,884,929,624.69
Portfolio Information:
Wtd Average Coupon (WAC) 7.44% 7.44%
Wtd Average Remaining Maturity (WAM) 44.33 43.43
Remaining Number of Receivables 230,740 227,540
Portfolio Receivable Balance $ 3,100,457,274.27 $ 2,996,936,915.81
IV. OVERCOLLATERALIZATION INFORMATION
Specified Overcollateralization Amount $ 13,469,253.96
Specified Credit Enhancement Amount 29,969,369.16
Yield Supplement Overcollateralization Amount 146,831,791.26
Target Level of Overcollateralization 160,301,045.22
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 $ 155,860.80
Recoveries from Prior Month Charge-Offs 4,071.50
Total Losses for Collection Period 406,912.65
Charge-off Rate for Collection Period (annualized) 0.10%
Cumulative Net Losses for all Periods
Delinquent Receivables:
31-60 Days Delinquent $ 11,275,978.10
61-90 Days Delinquent 1,227,453.57
91-120 Days Delinquent 70,190.09
Over 120 Days Delinquent 0.00
Repossesion Inventory $ 907,041.53
Ratio of Net Losses to the Average Pool Balance:
Second Preceding Collection Period 0.0163%
Preceding Collection Period 0.0407%
Current Collection Period 0.0972%
Three Month Average 0.0514%
Ratio of 60+ Delinquent Contracts to Outstanding Receivables
Second Preceding Collection Period 0.0017%
Preceding Collection Period 0.0026%
Current Collection Period 0.0439%
Three Month Average 0.0161%
