SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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) March 31, 2000
FORD CREDIT AUTO OWNER TRUST Series 2000-A
(Ford Credit Auto Receivables Two L.P. - Originator)
---------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-82895 38-3295857
- -------- --------- ----------
(State or other juris- (Commission File Number) (IRS Employer
diction of incorporation I.D. No.)
One 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 Report relating to the Ford Credit Auto Owner
Trust Series 2000-A for the Collection Period ended March 31, 2000, is
attached hereto as Exhibit 19 and is incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
EXHIBITS
Designation Description Method of
Filing
- ----------- ------------ ----------------
Exhibit 19 Ford Credit Auto Owner Filed with
Trust Series 2000-A this Report.
Servicing Report for the
Collection Period ended
March 31, 2000.
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: April 10, 2000 By:/s/R. P. Conrad
---------------------------------
Assistant Secretary
EXHIBIT INDEX
Designation Description
- ----------- -----------
Exhibit 19 Ford Credit Auto Owner
Trust Series 2000-A
Servicing Report for the
Collection Period ended
March 31, 2000.
Ford Motor Credit Company
Ford Credit Auto Owner Trust 2000-A
Monthly Servicing Report
Collection Period March, 2000
Distribution Date 4/17/00
Dollar Amount
Total Portfolio $ 3,000,003,021.67
Total Securities 2,891,060,000.00
Class A-1 Notes 155,000,000.00
Class A-2 Notes 377,000,000.00
Class A-3 Notes 1,000,000,000.00
Class A-4 Notes 975,000,000.00
Class A-5 Notes 171,480,000.00
Class B Notes 99,200,000.00
Class C Certificates 56,690,000.00
Class D Certificates 56,690,000.00
I. COLLECTIONS
Interest:
Simple Interest Receivables Interest
Interest Collections $ 16,101,847.31
Repurchased Loan Proceeds Related to Interest 3,592.62
Total Simple Interest Receivables Interest 16,105,439.93
Pre Computed Receivables Interest Collections 34,895.02
Total Interest Collections 16,140,334.95
Servicer Advances:
Simple Interest Servicer Advances $ 2,914,252.96
Precomputed Servicer Advances - Principal 14,164.65
Precomputed Servicer Advances - Interest 4,565.23
Total Servicer Advances 2,932,982.84
Principal:
Simple Interest Receivables Principal
Principal Collections $ 61,717,656.58
Prepayments in Full 31,283,437.91
Repurchased Loan Proceeds Related to Principal 1,301,699.78
Total Simple Interest Receivables Principal 94,302,794.27
Pre Computed Receivables Principal
Principal Collections $ 119,662.09
Prepayments in Full 86,744.67
Prepayments in Full Due to Administrative Repurchases 0.00
Payahead Draws 3,234.50
Total Pre Computed Receivables Principal 209,641.26
Liquidation Proceeds 8,236.25
Recoveries from Prior Month Charge-Offs 0.00
Total Principal Collections 96,169,590.98
Principal Losses for Collection Period 53,179.85
Total Regular Principal Reduction 96,228,699.23
Total Collections $ 115,242,908.77
Amount
Per $1,000
of Original
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II. DISTRIBUTIONS Amount Principal
Total Collections $ 115,242,908.77 $ 39.86
Reserve Account Release 0.00 0.00
Reserve Account Draw 0.00 0.00
Total Available for Distribution 115,242,908.77 39.86
Servicing Fee:
Servicing Fee Due $ 2,500,002.52 $ 0.86
Servicing Fee Paid 2,500,002.52 0.86
Servicing Fee Shortfall 0.00 0.00
Interest:
Class A-1 Notes Monthly Interest
Class A-1 Notes Monthly Interest Due $ 649,600.69 $ 4.19
Class A-1 Notes Monthly Interest Paid 649,600.69 4.19
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 $ 1,627,645.14 $ 4.32
Class A-2 Notes Monthly Interest Paid 1,627,645.14 4.32
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 $ 4,167,777.78 $ 4.17
Class A-3 Notes Monthly Interest Paid 4,167,777.78 4.17
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 $ 4,224,458.33 $ 4.33
Class A-4 Notes Monthly Interest Paid 4,224,458.33 4.33
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 $ 753,464.07 $ 4.39
Class A-5 Notes Monthly Interest Paid 753,464.07 4.39
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
<PAGE>
Class B Notes Monthly Interest
Class B Notes Monthly Interest Due $ 446,785.78 $ 4.50
Class B Notes Monthly Interest Paid 446,785.78 4.50
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 $ 11,869,731.79 $ 4.27
Total Note Monthly Interest Paid 11,869,731.79 4.27
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 $ 268,490.14 $ 4.74
Class C Cert. Monthly Interest Paid 268,490.14 4.74
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 $ 311,795.00 $ 5.50
Class D Cert. Monthly Interest Paid 311,795.00 5.50
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 $ 12,450,016.93 $ 4.31
Total Note and Cert. Mthly Int. Paid 12,450,016.93 4.31
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 $ 100,292,889.32
Principal:
Principal Distribution Amounts
First Priority Distribution Amount $ 0.00 $ 0.00
Second Priority Distribution Amount 31,111,266.38 10.76
Regular Principal Distribution Amount 500,888,733.62 173.25
Principal Distribution Amount 532,000,000.00 184.02
Principal Distribution Amounts Paid
Class A-1 Notes Monthly Principal Paid $ 100,292,889.32 $ 647.05
Class A-2 Notes Monthly Principal Paid 0.00 0.00
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 100,292,889.32 36.11
Class C Cert. Monthly Principal Paid $ 0.00 $ 0.00
Class D Cert. Monthly Principal Paid 0.00 0.00
Total Monthly Principal Paid 100,292,889.32 34.69
Collections Released to Servicer $ 0.00
Total Available for Distribution $ 115,242,908.77
Total Distributions (incl. Servicing Fee) $ 115,242,908.77
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III. POOL BALANCE AND PORTFOLIO INFORMATION
Balances and Pool Factors: Beginning Ending
Aggregate Balance of Notes $ 2,777,680,000.00 $ 2,677,387,110.68
Note Pool Factor 1.0000000 0.9638933
Class A-1 Notes Balance 155,000,000.00 54,707,110.68
Class A-1 Notes Pool Factor 1.0000000 0.3529491
Class A-2 Notes Balance 377,000,000.00 377,000,000.00
Class A-2 Notes Pool Factor 1.0000000 1.0000000
Class A-3 Notes Balance 1,000,000,000.00 1,000,000,000.00
Class A-3 Notes Pool Factor 1.0000000 1.0000000
Class A-4 Notes Balance 975,000,000.00 975,000,000.00
Class A-4 Notes Pool Factor 1.0000000 1.0000000
Class A-5 Notes Balance 171,480,000.00 171,480,000.00
Class A-5 Notes Pool Factor 1.0000000 1.0000000
Class B Notes Balance 99,200,000.00 99,200,000.00
Class B Notes Pool Factor 1.0000000 1.0000000
Class C Certificates Balance 56,690,000.00 56,690,000.00
Class C Certificates Pool Factor 1.0000000 1.0000000
Class D Certificates Balance 56,690,000.00 56,690,000.00
Class D Certificates Pool Factor 1.0000000 1.0000000
Total Note and Cert. Balance 2,891,060,000.00 2,790,767,110.68
Portfolio Information:
Wtd Average Coupon (WAC) 7.61% 7.61%
Wtd Average Remaining Maturity (WAM) 46.48 45.62
Remaining Number of Receivables 212,414 209,521
Portfolio Receivable Balance $ 3,000,003,021.67 $ 2,905,437,925.65
IV. OVERCOLLATERALIZATION INFORMATION
Specified Overcollateralization Amount $ 14,054,364.15
Specified Credit Enhancement Amount 29,054,379.26
Yield Supplement Overcollateralization Amount 158,869,192.03
Target Level of Overcollateralization 172,923,556.18
<PAGE>
V. RECONCILIATION OF RESERVE ACCOUNT
Beginning Reserve Account Balance $ 15,000,015.11
Specified Reserve Account Balance 15,000,015.11
Reserve Release Amount 0.00
Reserve Account Draws 0.00
Interim Reserve Account Balance 15,000,015.11
Reserve Account Deposits Made 0.00
Ending Reserve Account Balance 15,000,015.11
Change in Reserve Account Balance 0.00
VI. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY
Liquidated Contracts:
Liquidation Proceeds $ 8,236.25
Recoveries from Prior Month Charge-Offs 0.00
Total Losses for Collection Period 53,327.58
Charge-off Rate for Collection Period (annualized) 0.02%
Cumulative Net Losses for all Periods
Delinquent Receivables:
31-60 Days Delinquent $ 642,490.45
61-90 Days Delinquent 913.01
91-120 Days Delinquent 18,175.56
Over 120 Days Delinquent 0.00
Repossesion Inventory $ 172,428.45
Ratio of Net Losses to the Average Pool Balance:
Second Preceding Collection Period 0.0000%
Preceding Collection Period 0.0000%
Current Collection Period 0.0183%
Three Month Average 0.0000%
Ratio of 60+ Delinquent Contracts to Outstanding Receivables
Second Preceding Collection Period 0.0000%
Preceding Collection Period 0.0000%
Current Collection Period 0.0014%
Three Month Average 0.0000%
