<PAGE>
SECURITIES AND EXCHANGE
COMMISSION
Washington, DC 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 report) 20-Feb-98
TMS Auto Holdings, Inc. (as Seller) under a Sale and Servicing Agreement dated
as of February 28, 1997 in connection with the issuance of The Money Store Auto
Trust Asset Backed Securities, (Series 1997-1)
TMS Auto Holdings, Inc.
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(Exact name of regristrant as specified in its charter)
Delaware
New Jersey 333-14075-02 91-181-5414
State or other (Commission (IRS Employer
jurisdiction of File Number) ID Number)
incorporation)
2840 Morris Avenue, Union, New Jersey 07083
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(Address of principal executive officer)
Registrant's Telephone Number,
including area code: 908-686-2000
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n/a
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(Former name or former address, if changed since last report)
<PAGE>
Item 5 Other Events
Attached herein as Annex A is a copy of the Monthly Statement sent to the
Noteholders 20-Feb-98 and Certificateholders for the remittance date of:
Item 7 Financial Statements and Exhibits
The quarterly financial statement for the period ended September 30,
1996 for Financial Security Assurance Holdings Ltd. ("FSA") is incorporated by
reference to the Form 10Q filed by FSA with the Securities and Exchange
Commission on November 11, 1996.
<PAGE>
SIGNATURES
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.
THE MONEY STORE AUTO TRUST
ASSET BACKED SECURITIES, 1997-I
By /S/ James K. Ransom
----------------------
James K. Ransom
Vice President
Dated: 02/28/98
<PAGE>
THE MONEY STORE AUTO TRUST 1997-1
6.83% Asset Backed Certificates
Certificateholder Statement
IN ACCORDANCE WITH SECTION 5.8 OF THE SALE AND SERVICING AGREEMENT DATED
AS OF FEBRUARY 28, 1997, THE MONEY STORE AUTO FINANCE INC. REPORTS THE
FOLLOWING INFORMATION PERTAINING TO SERIES 1997 - 1 FOR THE FEBRUARY 11,
1998 DETERMINATION DATE
DISTRIBUTION DATE 02/20/98 MONTHLY PERIOD Jan-98
A. Information Regarding the Current Monthly Distribution :
I. CERTIFICATES
(a) The aggregate amount of the distribution to
Certificateholders 14,798.33
(b) The amount of the distribution set forth in
A. 1. (a) above in respect of interest on the
Certificates 14,798.33
(c) The amount of the distribution set forth in
A. 1. (a) above in respect of principal on
the Certificates 0.00
(d) The amount of the distribution in A.1. (a)
payable pursuant to a claim on the
Certificate Policy 0.00
(e) The remaining outstanding balance available
to be drawn under the Certificate Policy 14,798.33
(f) The amount of the distribution set forth in
paragraph A.1. (a) above per $1,000 interest
in the Certificates 5.6916654
(g) The amount of the distribution set forth in
paragraph A.1. (b) above per $1,000 interest
in the Certificates 5.6916654
(h) The amount of the distribution set forth in
paragraph A.1. (c) above per $1,000 interest
in the Certificates 0.0000000
(i) The amount of the distribution set forth in
paragraph A.1. (d) above per $1,000 interest
in the Certificates 0.0000000
B. Information Regarding the Performance of the Trust :
I. POOL BALANCE AND CERTIFICATE PRINCIPAL BALANCE.
(a) The Pool Balance as of the close of business
on the last day of the Monthly Period 89,497,631.84
(b) The Certificate Principal Balance after
giving effect to payments allocated to
principal as set forth in Paragraph A.1. (c) 2,600,000.00
(c) The Certificate Factor after giving affect to
the payments set forth in paragraph A.1. (c) 1.0000000
(d) The amount of aggregate Realized Losses for
the second preceding Month Period 5,661,193.18
(e) The aggregate Purchase Amount for all
Receivables that were repurchased in the
Monthly Period 0.00
<PAGE>
2. SERVICING FEE
(a) The aggregate amount of the Servicing Fee
paid to the Servicer with respect to the
preceding Monthly Period 0.00
3. PAYMENT SHORTFALLS
(a) The amount of the Certificateholders'
Interest Carryover Shortfall after giving
effect to the payments set forth in Paragraph
A. 1. (b) above 0.00
(b) The amount of the Certificateholder's
Interest Carryover Shortfall set forth in
paragraph B.3. (a) above per $1,000 interest
with respect to the Certificate: 0.0000000
(c) The amount of the Certificateholders'
Principal Carryover Shortfall after giving
effect to the payments set forth in Paragraph
A.1. (b) above 0.00
(d) The amount of the Certificateholders'
Principal Carryover Shortfall set forth in
paragraph B.3. (a) above per $1,000 interest
with respect to the Certificate: 0.00
4. TRANSFER OF SUBSEQUENT RECEIVABLES
(a) Aggregate amount on deposit in the Prefunding
Account on such Distribution Date after
giving effect to all withdrawals therefrom on
such Distribution Date 0.00
(b) Aggregate amount on deposit in the
Capitalized Interest Account on such
Distribution Date after giving effect to all
withdrawals therefrom on such Distribution
Date 0.00
(c) Aggregate amount on deposit in the
Pre-Funding Account on the final Subsequent
Transfer Date after giving effect to all
withdrawals therefrom on such Distribution
Date 0.00
(d) The amount set forth in paragraph B.4. (a)
per $1,000 interest in the Certificates: 0.0000000
(e) The amount set forth in paragraph B.4. (b) to
be distributed to Certificateholders per
$1,000 interest in the Certificates: 0.0000000
(f) The amount set forth in paragraph B.4. (c) to
be distributed to Certificateholders per
$1,000 interest in the Certificates: 0.0000000
5. (a) The aggregate amount of collections by the
Servicer during the preceding Monthly Period 4,252,982.79
(b) The aggregate amount which was received by
the Trust from the Servicer during the
preceding Monthly Period 4,865,268.31
(c) The aggregate amount of reimbursements to the
Security Insurer during the preceding Monthly
Period 0.00
(d) The amount of Receivables that are delinquent
for over:
30 days 10,357,171.99
60 days 4,119,018.09
90 days 1,457,855.29
<PAGE>
I, Harry Puglisi, Treasurer, represent that The Money Store Auto Finance Inc.
complied with section 5.8 of the Sale and Servicing Agreement dated February 28,
1997 pertaining to Series 1997 - 1 in preparing the accompanying
Certificateholder Statement.
THE MONEY STORE AUTO FINANCE INC.
BY: \s\ Harry Puglisi
HARRY PUGLISI
TREASURER
<PAGE>
THE MONEY STORE AUTO TRUST 1997-1
Class A-1 6.19% Money Store Asset Backed Notes
Class A-2 6.64% Asset Backed Notes
IN ACCORDANCE WITH THE SALE AND SERVICING AGREEMENT DATED AS OF FEBRUARY
28, 1997, THE MONEY STORE AUTO FINANCE INC. REPORTS THE FOLLOWING
INFORMATION PERTAINING TO SERIES 1997 - 1 FOR THE FEBRUARY 11, 1998
DETERMINATION DATE
DISTRIBUTION DATE 02/20/98 MONTHLY PERIOD Jan-98
A. Information Regarding the Current Monthly Distribution :
I. NOTES
(a) The aggregate amount of the distribution with
respect to:
Class A-1 Notes 4,647,612.38
Class A-2 Notes 201,413.33
(b) The amount of the distribution set forth in
paragraph A. 1. (a) above in respect of
interest on:
Class A-1 Notes 282,997.75
Class A-2 Notes 201,413.33
(c) The amount of the distribution set forth in
paragraph A. 1. (a) above in respect of
principal of:
Class A-1 Notes 4,364,614.63
Class A-2 Notes 0.00
(d) The amount of the distribution in A. 1. (a)
payable pursuant to a claim on the Note
Policy with respect to:
Class A-1 Notes 0.00
Class A-2 Notes 0.00
(e) The remaining outstanding balance available
to be drawn under the Note Policy 4,849,025.71
(f) The amount of the distribution set forth in
paragraph A. 1. (a) above per $1,000 interest
in:
Class A-1 Notes 51.0726635
Class A-2 Notes 5.5333332
(g) The amount of the distribution set forth in
paragraph A. 1. (b) above per $1,000 interest
in:
Class A-1 Notes 3.1098654
Class A-2 Notes 5.5333332
(h) The amount of the distribution set forth in
paragraph A. 1. (c) above per $1,000 interest
in:
Class A-1 Notes 47.9627981
Class A-2 Notes 0.0000000
(i) The amount of the distribution set forth in
paragraph A. 1. (d) above per $1,000 interest
in:
Class A-1 Notes 0.0000000
Class A-2 Notes 0.0000000
<PAGE>
(j) Prior to the Parity Date, from the Available
Funds, to the Note Distribution Account the
amount of the distribution set forth in
paragraph A. 1. (a) above in respect of
principal of:
Class A-1 Notes 0.00
Class A-2 Notes 0.00
(k) The amount of the distribution set forth in
paragraph A. 1. (j) above per $1,000 interest
in:
Class A-1 Notes 0.0000000
Class A-2 Notes 0.0000000
B. Information Regarding the Performance of the Trust :
1. POOL BALANCE AND NOTE PRINCIPAL BALANCE
(a) The Pool Balance at the close of business on the
last day of the Monthly Period 89,497,631.84
(b) The aggregate outstanding principal amount of each
Class of Notes after giving effect to payments
allocated to principal as set forth in Paragraph
A.1 (c) and (j) above with respect to: 5.8(viii)
Class A-1 Notes 50,497,631.84
Class A-2 Notes 36,400,000.00
(c) The Note Pool Factor for each Class of Notes after
giving effect to the payments set forth in
paragraph A.1 (c) with respect to:
Class A-1 Notes 0.5549190
Class A-2 Notes 1.0000000
(d) The amount of aggregate Realized Losses for the
second preceding Monthly Period 5,661,193.18
(e) The aggregate Purchase Amount for all Receivables
5.8(vii) that were repurchased in the Monthly
Period 0.00
2. SERVICING FEE
(a) The aggregate amount of the Servicing Fee
paid to the Servicer with respect to the
preceding Monthly Period 0.00
3. PAYMENT SHORTFALLS
(a) The amount of the Noteholders' Interest
Carryover Shortfall after giving effect to
the payments set forth in paragraph A. 1. (b)
above with respect to:
Class A-1 Notes 0.00
Class A-2 Notes 0.00
(b) The amount of the Noteholders' Interest
Carryover Shortfall set forth in paragraph
B.3. (a) above per $1,000 interest with
respect to:
Class A-1 Notes 0.0000000
Class A-2 Notes 0.0000000
(c) The amount of the Noteholders' Principal
Carryover Shortfall after giving effect to
the payments set forth in Paragraph A. 1. (b)
above with respect to:
Class A-1 Notes 0.00
Class A-2 Notes 0.00
(d) The amount of the Noteholders' Principal
Carryover Shortfall set forth in Paragraph
B.3. (a) above per $1,000 interest with
respect to:
Class A-1 Notes 0.0000000
Class A-2 Notes 0.0000000
<PAGE>
4. Transfer of Subsequent Receivables
(a) Aggregate amount on deposit in the
Pre-Funding Account on such Distribution Date
after giving effect to all withdrawals
therefrom on such Distribution Date 0.00
(b) Aggregate amount on deposit in the
Capitalized Interest Account on such
Distribution Date after giving effect to all
withdrawals therefrom on such Distribution
Date 0.00
(c) Aggregate amount on deposit in the
Pre-Funding Account on the final Subsequent
Transfer Date after giving effect to all
withdrawals therefrom on such Distribution
Date 0.00
(d) the amount set forth in paragraph B.4 (a) per
$1,000 interest in:
Class A-1 Notes 0.0000000
Class A-2 Notes 0.0000000
(e) the amount set forth in paragraph B.4 (b) to
be distributed to Noteholders per $1,000
interest in:
Class A-1 Notes 0.0000000
Class A-2 Notes 0.0000000
(f) the amount set forth in paragraph B.4 (c) to
be distributed to Noteholders per $1,000
interest in:
Class A-1 Notes 0.0000000
Class A-2 Notes 0.0000000
(g) The Amount withdrawn from the Pre-Fund
Account and transferred to the Collection
Account (included in paragraph A.1 (c)):
Class A-1 Notes 0.00
(h) the amount set forth in paragraph B.4 (g) to
be distributed to Noteholders per $1,000
interest in:
Class A-1 Notes 0.0000000
5. (a) The aggregate amount of collections by the
Servicer during the preceding Monthly Period 4,252,982.79
(b) The aggregate amount which was received by
the Trust from the Servicer during the
preceding Monthly Period 4,865,268.31
(c) The aggregate amount of reimbursements to the
Security Insurer during the preceding Monthly
Period 0.00
(d) The amount of Receivables that are delinquent
for over:
30 days 10,357,171.99
60 days 4,119,018.09
90 days 1,457,855.29
6. Other Information 10.3
Weighted Average Coupon (WAC) 19.064%
Weighted Average Remaining Terms (WARM) 43.74361
<PAGE>
I, Harry Puglisi, Treasurer, represent that The Money Store Auto Finance Inc.
complied with section 5.8 of the Sale and Servicing Agreement dated February 28,
1997 pertaining to Series 1997 - 1 in preparing the accompanying Noteholder
Statement.
THE MONEY STORE AUTO FINANCE INC.
BY: \s\ Harry Puglisi
HARRY PUGLISI
TREASURER
