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Previous: STAR SELECT FUNDS, 485APOS, 1998-01-30 |
Next: LEHMAN ABS CORP CH HM EQ LN TR 1997-1 HM E LN A B CRT 1997-, 15-15D, 1998-01-30 |
<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-Jan-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.
-------------------------------------------------------------------------------
(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
--------------------------------------------------------------------------
(Address of principal executive officer)
Registrant's Telephone Number,
including area code: 908-686-2000
----------------
n/a
------------------------------------------------------------------------
(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 and Certificateholders for the remittance date of: 20-Jan-98
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: 01/31/98
<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 JANUARY 12,
1998 DETERMINATION DATE
<TABLE>
<CAPTION>
DISTRIBUTION DATE 01/20/98 MONTHLY PERIOD Dec-97
<S> <C> <C>
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
<CAPTION>
B. Information Regarding the Performance of the Trust :
<S> <C> <C>
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 93,862,246.47
(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 4,369,742.04
(e) The aggregate Purchase Amount for all Receivables that
were repurchased in the Monthly Period 0.00
</TABLE>
<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 3,306,775.37
(b) The aggregate amount which was received
by the Trust from the Servicer during
the preceding Monthly Period 4,048,389.07
(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 11,377,141.05
60 days 4,305,397.51
90 days 1,647,153.27
<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 JANUARY 12, 1998 DETERMINATION DATE
DISTRIBUTION DATE 01/20/98 MONTHLY PERIOD Dec-97
A. Information Regarding the Current Monthly Distribution :
I. NOTES
<TABLE>
<S> <C>
(a) The aggregate amount of the distribution with respect
to:
Class A-1 Notes 3,834,176.85
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 301,221.91
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 3,532,954.94
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 4,035,590.18
(f) The amount of the distribution set forth in paragraph A.1.(a)
above per $1,000 interest in:
Class A-1 Notes 42.1338115
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 3.3101309
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 38.8236807
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
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(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
<CAPTION>
B. Information Regarding the Performance of the Trust :
<S> <C>
1. POOL BALANCE AND NOTE PRINCIPAL BALANCE
(a) The Pool Balance at the close of business
on the last day of the Monthly Period 93,862,246.47
(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:
Class A-1 Notes 54,862,246.47
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 0.6028818
Class A-2 Notes 1.0000000
(d) The amount of aggregate Realized Losses for the
second preceding Monthly Period 4,369,742.04
(e) The aggregate Purchase Amount for all Receivables
that were repurchased in the Monthly Period 0.00
<CAPTION>
2. SERVICING FEE
<S> <C>
(a) The aggregate amount of the Servicing Fee paid to the
Servicer with respect to the preceding Monthly Period 0.00
<CAPTION>
3. PAYMENT SHORTFALLS
<S> <C>
(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
</TABLE>
<PAGE>
<TABLE>
<S> <C>
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 3,306,775.37
(b) The aggregate amount which was received by the Trust
from the Servicer during the preceding Monthly
Period 4,048,389.07
(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 11,377,141.05
60 days 4,305,397.51
90 days 1,647,153.27
6. Other Information
Weighted Average Coupon (WAC) 19.079%
Weighted Average Remaining Terms (WARM) 44.61968
</TABLE>
<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
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