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Previous: MONEY STORE RESIDENTIAL TRUST 1997-I, 8-K, 1998-01-30 |
Next: MONEY STORE SBA LOAN BACKED ADJ RAK CERT SERIES 1997-I, 8-K, 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 August 31, 1997 in connection with the
issuance of The Money Store Auto Trust (Series 1997-3), Class A-1,
Class A-2, and Class A-3.
TMS Auto Holdings, Inc.
-------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware
New Jersey 333-14075-02 Applied For
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, 1997-3
By /s/ James K. Ransom
--------------------------------------
James K. Ransom
Vice President
Dated: 01/31/98
<PAGE>
THE MONEY STORE AUTO TRUST 1997-3
0.00% Asset Backed Certificates
Certificateholder Statement
IN ACCORDANCE WITH SECTION 5.8 OF THE SALE AND SERVICING AGREEMENT
DATED AS OF AUGUST 31, 1997, THE MONEY STORE AUTO FINANCE INC. REPORTS
THE FOLLOWING INFORMATION PERTAINING TO SERIES 1997 - 3 FOR THE
JANUARY 12, 1998 DETERMINATION DATE
DISTRIBUTION DATE 01/20/98 MONTHLY PERIOD Dec-97
<TABLE>
<CAPTION>
A. Information Regarding the Current Monthly Distribution:
<S> <C>
I. CERTIFICATES
(a) The aggregate amount of the distribution to
Certificateholders 0.00
(b) The amount of the distribution set forth in A. 1. (a) above in
respect of interest on the Certificates 0.00
(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 0.00
(f) The amount of the distribution set forth in paragraph
A.1. (a) above per $1,000 interest in the Certificates 0.0000000
(g) The amount of the distribution set forth in paragraph
A.1. (b) above per $1,000 interest in the Certificates 0.0000000
(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>
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 121,279,738.16
(b) The Certificate Principal Balance after giving
effect to payments allocated to principal as set
forth in Paragraph A.1. (c) 0.00
(c) The Certificate Factor after giving affect to the payments
set forth in paragraph A.1. (c) 0.0000000
(d) The amount of aggregate Realized Losses for the
second preceding Month Period 217,782.11
(e) The aggregate Purchase Amount for all Receivables that
were repurchased in the Monthly Period 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
2. SERVICING FEE
(a) The aggregate amount of the Servicing Fee paid to the
Servicer with respect to the preceding Monthly Period 213,520.38
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 4,006,784.88
(b) The aggregate amount which was received by the Trust from the
Servicer during the preceding Monthly Period 4,006,784.88
(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 8,396,240.59
60 days 2,476,294.07
90 days 663,938.28
</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 August 31,
1997 pertaining to Series 1997 - 3 in preparing the accompanying
Certificateholder Statement.
THE MONEY STORE AUTO FINANCE INC.
BY: /s/ Harry Puglisi
---------------------------
HARRY PUGLISI
TREASURER
<PAGE>
<TABLE>
<S> <C> <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 850,531.30
Class A-2 Notes 0.00
Class A-3 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 26.7883874
Class A-2 Notes 0.0000000
Class A-3 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 121,279,738.16
(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 19,798,119.11
Class A-2 Notes 64,550,000.00
Class A-3 Notes 38,700,000.00
(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 0.6235628
Class A-2 Notes 1.0000000
Class A-3 Notes 1.0000000
(d) The amount of aggregate Realized Losses for the
second preceding Monthly Period 217,782.11
(e) The aggregate Purchase Amount for all Receivables
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 213,520.38
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
Class A-3 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
Class A-3 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
Class A-3 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
Class A-3 Notes 0.0000000
( 2 )
above per $1,000 interest in:
Class A-1 Notes 28.2530299
Class A-2 Notes 0.0000000
Class A-3 Notes 0.0000000
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
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 123,585,484.04
(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 22,966,777.38
Class A-2 Notes 64,550,000.00
Class A-3 Notes 38,700,000.00
(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 0.7233631
Class A-2 Notes 1.0000000
Class A-3 Notes 1.0000000
(d) The amount of aggregate Realized Losses for the
second preceding Monthly Period 88,604.93
(e) The aggregate Purchase Amount for all Receivables
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 233,384.89
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
Class A-3 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
Class A-3 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
Class A-3 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
Class A-3 Notes 0.0000000
</TABLE>
<PAGE>
<TABLE>
<S> <C> <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
Class A-3 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
Class A-3 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
Class A-3 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 4,006,784.88
(b) The aggregate amount which was received by the Trust
from the Servicer during the preceding Monthly
Period 4,006,784.88
(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 8,396,240.59
60 days 2,476,294.07
90 days 663,938.28
6. Other Information
Weighted Average Coupon (WAC) 19.213%
Weighted Average Remaining Terms (WARM) 51.30
</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 August 31,
1997 pertaining to Series 1997 - 3 in preparing the accompanying Noteholder
Statement.
THE MONEY STORE AUTO FINANCE INC.
BY: /s/ Harry Puglisi
---------------------
HARRY PUGLISI
TREASURER
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