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Previous: HONDA AUTO LEASE TRUST 1999A, 8-K, 2001-01-12 |
Next: UNITED NATIONAL BANK & TRUST CO, 13F-HR, 2001-01-12 |
<PAGE> 1
EXHIBIT 20
AMERICAN HONDA FINANCE CORPORATION
Servicer's Certificate - Honda Auto Lease Trust 1999-A
Distribution Date of January 15, 2001 for the Collection Period of December 1,
2000 through December 31, 2000
<TABLE>
<S> <C>
POOL DATA - ORIGINAL DEAL PARAMETERS
Aggregate Net Investment Value (ANIV) 3,300,158,606.28
Servicer Advance --
Servicer Payahead 7,383,934.30
Number of Contracts 172,598
Weighted Average Lease Rate (Discounted) 9.05%
Weighted Average Lease Rate 6.29%
Weighted Average Remaining Term 30.48
Servicing Fee Percentage (annual) 1.00%
POOL DATA - CURRENT MONTH
Aggregate Net Investment Value 2,384,992,601.87
Number of Current Contracts 149,576
Weighted Average Lease Rate (Discounted) 9.04%
Weighted Average Lease Rate 6.28%
Weighted Average Remaining Term 12.93
</TABLE>
<TABLE>
<S> <C>
--------------------------------------------------------------------------------------------------
RESERVE FUND:
Initial Deposit Amount 115,274,540.12
Specified Reserve Fund Percentage (if Tests i, ii and iii are satisfied) 5.50%
Specified Reserve Fund Amount (if Tests i, ii and iii are satisfied) 181,145,705.90
Specified Reserve Fund Percentage (if Tests i, ii or iii are not satisfied) 6.50%
Specified Reserve Fund Amount (if Tests i, ii or iii are not satisfied) 214,081,288.79
Beginning Balance 180,789,240.05
Net Investment Income Retained --
Deposit Amount 356,465.85
Withdrawal Amount 7,945.58
Excess Reserve Amount Released --
Ending Balance 181,137,760.32
Specified Reserve Fund Balance 181,145,705.90
Net Investment Income 943,904.53
Cumulative Withdrawal Amount 4,379,607.87
--------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------
CREDIT LOSSES: Vehicle Count Amount
------------- ------------
<S> <C> <C>
Contracts Charged-off During the Collection Period 180
Discounted Principal Balance 2,958,991.79
Net Liquidation Proceeds for the Collection Period (1,958,445.96)
Recoveries - Previously Charged-off Contracts 232,303.47
Aggregate Credit Losses for the Collection Period 768,242.36
Repossessions for the Collection Period 102
Cumulative Credit Losses for all Periods 7,952,594.36
RATIO OF NET CREDIT LOSSES TO THE AVERAGE ANIV BALANCE
FOR EACH COLLECTION PERIOD:
Second Preceding Collection Period 0.27%
First Preceding Collection Period 0.26%
Current Collection Period 0.38%
--------------------------------------------------------------------------------------------
TEST (i) (CHARGE-OFF RATE TEST)
Three Month Average 0.30%
Charge-off Rate Test (Test satisfied if <= 1.5%) Test Satisfied
--------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Principal
DELINQUENT CONTRACTS: Percent Accounts Percent Balance
-------- -------- -------- -------------
<S> <C> <C> <C> <C>
31-60 Days Delinquent 1.15% 1,726 1.13% 26,997,629.82
61-90 Days Delinquent 0.18% 265 0.17% 4,034,093.53
Over 90 Days Delinquent 0.16% 238 0.16% 3,797,047.91
Total Delinquencies 2,229 34,828,771.26
RATIO OF NUMBER OF CONTRACTS DELINQUENT MORE THAN 60 DAYS TO THE OUTSTANDING
NUMBER OF RECEIVABLES AS OF EACH COLLECTION PERIOD (INCLUDES REPOSSESSIONS):
Second Preceding Collection Period 0.26%
First Preceding Collection Period 0.29%
Current Collection Period 0.34%
------------------------------------------------------------------------------------------------------------------------------
TEST (ii) (DELINQUENCY RATE TEST)
Three Month Average 0.30%
Delinquency Rate Test (Test satisfied if <= 1.5%) Test Satisfied
------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
RESIDUAL VALUE (GAIN) LOSS: Vehicles
--------
<S> <C> <C>
Matured Lease Vehicle Inventory Sold 191 3,128,434.33
Net Liquidation Proceeds (2,861,120.25)
Net Residual Value (Gain) Loss 267,314.08
Cumulative Residual Value (Gain) Loss all periods 1,345,017.49
</TABLE>
<TABLE>
<CAPTION>
Average Average
Number Scheduled Sale Net Liquidation Residual
MATURED VEHICLES SOLD FOR Sold Maturities Ratio Proceeds Value
EACH COLLECTION PERIOD: --------- --------- --------- --------------- ------------
<S> <C> <C> <C> <C> <C>
Second Preceding Collection Period 114 133 85.71% 15,851.44 17,332.54
First Preceding Collection Period 166 202 82.18% 15,310.40 17,147.57
Current Collection Period 191 253 75.49% 14,979.69 16,379.24
Three Month Average 15,380.51 16,953.12
------------
Ratio of Three Month Average Net Liquidation Proceeds to Average Residual Value 90.72%
------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
CURRENT PERIOD
TEST (iii) (RESIDUAL VALUE TEST) AMOUNT/RATIO TEST MET?
--------------- --------------
<S> <C> <C>
a) Number of Vehicles Sold > 45% of Scheduled Maturities and >= 500 Scheduled Maturities 75.49% Yes
b) 3 Month Average Matured Leased Vehicle Proceeds < 75% of Average Residual Values 90.72% Yes
Residual Value Test (Test satisfied if tests a and b = Yes) Test Satisfied
------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
SERVICER'S FEE DUE: Amount
------------
<S> <C>
Prior Cumulative Servicer's Fee Shortfall --
Servicer's Fee Due This Collection Period 2,031,390.70
Servicer's Fee Paid 2,031,390.70
Current Cumulative Servicer's Fee Shortfall --
------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
ADVANCES AND PAYAHEADS: Amount
------------
<S> <C>
ADVANCES
Prior Outstanding Servicer Advances 1,238,103.24
Net Advance/(Recovery) This Period 493,032.05
Nonrecoverable Prior Advances (187,897.82)
Current Outstanding Servicer Advances 1,543,237.47
PAYAHEAD ACCOUNT
Prior Outstanding Payahead Balance 7,758,615.98
Net Allocation/(Collections) of Advanced Payments This Period 1,695,884.66
Current Outstanding Payahead Balance 6,062,731.32
------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
Securities Class A1 Class A2
Total Balance (99.8%) Balance Balance
------------- --------------- ------------- -------------
<S> <C> <C> <C> <C>
COLLECTIONS:
INTEREST
Scheduled Interest Collections 16,464,365.09 16,431,436.36
Interest Related To Prepayments in Full 190,516.65 190,135.62
Interest Related To Full Term and Over Term Payoffs 20,271.38 20,230.84
Interest Related to Reallocation Payments 9,147.54 9,129.24
Excess Liquidation Proceeds -- --
Recoveries 232,303.47 231,838.86
Available Interest 16,916,604.13 16,882,770.92
PRINCIPAL
Scheduled Principal Collections 28,559,751.05 28,502,631.55
Prepayments In Full 11,734,965.91 11,711,495.98
Full Term and Over Term Payoffs 5,569,242.27 5,558,103.79
Reallocation Payment 724,857.16 723,407.45
Net Liquidation Proceeds 4,819,566.21 4,809,927.08
Available Principal 51,408,382.60 51,305,565.83
WITHDRAWAL FROM RESERVE FUND 7,945.58 7,945.58
TOTAL OF SOURCES FOR DISTRIBUTION 68,332,932.31
DISTRIBUTIONS:
INTEREST
Transferor Interest 29,770.43
Capped Trustee Fees -- --
Class A Interest 11,295,296.61 11,295,296.61 -- --
Class A Interest Carryover Shortfalls -- -- -- --
Class B Interest 365,750.00 365,750.00
Class B Interest Carryover Shortfalls -- --
Class C Interest 379,500.00 379,500.00
Class C Interest Carryover Shortfalls -- --
Capped Contingent and Excess Liability Premiums -- --
Capped Origination Trust Administrative Expenses -- --
Other Capped Trustee Fees -- --
Servicer's Fee 2,031,390.70 2,027,327.92
Unpaid Servicer's Fees Related to Prior Collection Periods -- --
Reserve Fund Deposit 356,465.85 356,465.85
Certificate Interest 1,201,051.93 1,201,051.93
Certificate Interest Carryover Shortfall -- --
Excess Interest to Transferor --
TOTAL DISTRIBUTIONS OF INTEREST 15,659,225.52 15,625,392.31 -- --
PRINCIPAL
Transferor Principal 102,816.77
Principal Distribution to A-1, A-2, A-3 and A-4 Notes 51,305,565.83 51,305,565.83 -- --
Principal Distribution to A-5, B and C Notes -- --
Principal Distribution to Certificates -- --
Class A Covered Loss Amount 1,265,324.19 1,265,324.19 -- --
Class A Note Principal Loss Amount/Class A Note Principal Carryover -- -- -- --
Class B Covered and Uncovered Loss Amount -- --
Class C Covered and Uncovered Loss Amount -- --
Class B Note Principal Loss Carryover Shortfall -- --
Class C Note Principal Loss Carryover Shortfall -- --
Class B Note Interest on Principal Loss Carryover Shortfall -- --
Class C Note Interest on Principal Loss Carryover Shortfall -- --
Certificate Principal Loss Amount/Certificate Principal Carryover -- --
Uncapped Administrative Expenses (paid to the Trustees) -- --
TOTAL DISTRIBUTIONS OF PRINCIPAL 52,673,706.79 52,570,890.02 -- --
NOTE/CERTIFICATE INTEREST CARRYOVER SHORTFALLS
Beginning Balance -- -- --
Current Period Increase (Decrease) -- -- --
Ending Balance -- -- --
NOTE/CERTIFICATE PRINCIPAL LOSS AMOUNT
Beginning Balance 6,001,797.97 5,997,692.84 -- --
Current Period Increase (Decrease) 37,046.06 34,486.73 -- --
Ending Balance 6,038,844.03 6,032,179.57 -- --
</TABLE>
<TABLE>
<CAPTION>
Class A3 Class A4 Class A5 Class B
Balance Balance Balance Balance
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
COLLECTIONS:
INTEREST
Scheduled Interest Collections
Interest Related To Prepayments in Full
Interest Related To Full Term and Over Term Payoffs
Interest Related to Reallocation Payments
Excess Liquidation Proceeds
Recoveries
Available Interest
PRINCIPAL
Scheduled Principal Collections
Prepayments In Full
Full Term and Over Term Payoffs
Reallocation Payment
Net Liquidation Proceeds
Available Principal
WITHDRAWAL FROM RESERVE FUND
TOTAL OF SOURCES FOR DISTRIBUTION
DISTRIBUTIONS:
INTEREST
Transferor Interest
Capped Trustee Fees
Class A Interest 1,448,171.61 5,375,000.00 4,472,125.00
Class A Interest Carryover Shortfalls -- -- --
Class B Interest 365,750.00
Class B Interest Carryover Shortfalls --
Class C Interest
Class C Interest Carryover Shortfalls
Capped Contingent and Excess Liability Premiums
Capped Origination Trust Administrative Expenses
Other Capped Trustee Fees
Servicer's Fee
Unpaid Servicer's Fees Related to Prior Collection Periods
Reserve Fund Deposit
Certificate Interest
Certificate Interest Carryover Shortfall
Excess Interest to Transferor
TOTAL DISTRIBUTIONS OF INTEREST 1,448,171.61 5,375,000.00 4,472,125.00 365,750.00
PRINCIPAL
Transferor Principal
Principal Distribution to A-1, A-2, A-3 and A-4 Notes 51,305,565.83 --
Principal Distribution to A-5, B and C Notes -- --
Principal Distribution to Certificates
Class A Covered Loss Amount 1,265,324.19 -- --
Class A Note Principal Loss Amount/Class A Note Principal Carryover -- -- --
Class B Covered and Uncovered Loss Amount --
Class C Covered and Uncovered Loss Amount
Class B Note Principal Loss Carryover Shortfall --
Class C Note Principal Loss Carryover Shortfall
Class B Note Interest on Principal Loss Carryover Shortfall --
Class C Note Interest on Principal Loss Carryover Shortfall
Certificate Principal Loss Amount/Certificate Principal Carryover
Uncapped Administrative Expenses (paid to the Trustees)
TOTAL DISTRIBUTIONS OF PRINCIPAL 52,570,890.02 -- -- --
NOTE/CERTIFICATE INTEREST CARRYOVER SHORTFALLS
Beginning Balance -- -- -- --
Current Period Increase (Decrease) -- -- -- --
Ending Balance -- -- -- --
NOTE/CERTIFICATE PRINCIPAL LOSS AMOUNT
Beginning Balance -- -- -- --
Current Period Increase (Decrease) -- -- -- --
Ending Balance -- -- -- --
</TABLE>
<TABLE>
<CAPTION>
Transferor
Class C Certificate Interest
Balance Balance Balance
------------- ------------- -------------
<S> <C> <C> <C>
COLLECTIONS:
INTEREST
Scheduled Interest Collections 32,928.73
Interest Related To Prepayments in Full 381.03
Interest Related To Full Term and Over Term Payoffs 40.54
Interest Related to Reallocation Payments 18.30
Excess Liquidation Proceeds --
Recoveries 464.61
Available Interest 33,833.21
PRINCIPAL
Scheduled Principal Collections 57,119.50
Prepayments In Full 23,469.93
Full Term and Over Term Payoffs 11,138.48
Reallocation Payment 1,449.71
Net Liquidation Proceeds 9,639.13
Available Principal 102,816.77
WITHDRAWAL FROM RESERVE FUND
TOTAL OF SOURCES FOR DISTRIBUTION
DISTRIBUTIONS:
INTEREST
Transferor Interest 29,770.43
Capped Trustee Fees
Class A Interest
Class A Interest Carryover Shortfalls
Class B Interest
Class B Interest Carryover Shortfalls
Class C Interest 379,500.00
Class C Interest Carryover Shortfalls --
Capped Contingent and Excess Liability Premiums
Capped Origination Trust Administrative Expenses
Other Capped Trustee Fees
Servicer's Fee 4,062.78
Unpaid Servicer's Fees Related to Prior Collection Periods --
Reserve Fund Deposit
Certificate Interest 1,201,051.93
Certificate Interest Carryover Shortfall --
Excess Interest to Transferor --
TOTAL DISTRIBUTIONS OF INTEREST 379,500.00 1,201,051.93 33,833.21
PRINCIPAL
Transferor Principal 102,816.77
Principal Distribution to A-1, A-2, A-3 and A-4 Notes
Principal Distribution to A-5, B and C Notes --
Principal Distribution to Certificates --
Class A Covered Loss Amount
Class A Note Principal Loss Amount/Class A Note Principal Carryover
Class B Covered and Uncovered Loss Amount
Class C Covered and Uncovered Loss Amount --
Class B Note Principal Loss Carryover Shortfall
Class C Note Principal Loss Carryover Shortfall --
Class B Note Interest on Principal Loss Carryover Shortfall
Class C Note Interest on Principal Loss Carryover Shortfall --
Certificate Principal Loss Amount/Certificate Principal Carryover --
Uncapped Administrative Expenses (paid to the Trustees)
TOTAL DISTRIBUTIONS OF PRINCIPAL -- -- 102,816.77
NOTE/CERTIFICATE INTEREST CARRYOVER SHORTFALLS
Beginning Balance -- --
Current Period Increase (Decrease) -- --
Ending Balance -- --
NOTE/CERTIFICATE PRINCIPAL LOSS AMOUNT
Beginning Balance -- 5,997,692.84 4,105.13
Current Period Increase (Decrease) -- 34,486.73 2,559.32
Ending Balance -- 6,032,179.57 6,664.45
</TABLE>
<PAGE> 3
<TABLE>
<CAPTION>
Securities Class A1 Class A2
Total Balance (99.8%) Balance Balance
---------------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C>
TOTAL DISTRIBUTIONS TO NOTEHOLDERS AND CERTIFICATEHOLDERS:
Interest Distributions 15,659,225.52 15,625,392.31 -- --
Principal Distributions 52,673,706.79 52,570,890.02 -- --
Total Distributions 68,332,932.31 68,196,282.34 -- --
ORIGINAL DEAL PARAMETER
Aggregate Net Investment Value (ANIV) 3,300,158,606.28
Initial Note/Certificate Balance 3,293,558,289.00 380,000,000.00 360,000,000.00
Percent of ANIV 99.80% 11.51% 10.91%
Class Allocation Percentage 12.89% 12.22%
Note/Certificate Factor 1.00 1.00
Note/Certificate Rate 5.445% 5.875%
Servicer Advance --
Servicer Payahead 7,383,934.30
Number of Contracts 172,598
Weighted Average Lease Rate 6.29%
Weighted Average Lease Rate (Discounted) 9.05%
Weighted Average Remaining Term 30.48
Servicing Fee Percentage 1.00%
POOL DATA PRIOR MONTH
Aggregate Net Investment Value (ANIV) 2,437,668,844.38
Note/Certificate Balance 2,432,764,815.21 -- --
Percent of ANIV 99.80% 0.00% 0.00%
Class Allocation Percentage 0.00% 0.00%
Note/Certificate Factor 0.00 0.00
Servicer Advance 1,238,103.24
Servicer Payahead 7,758,615.98
Number of Contracts 151,134
Weighted Average Lease Rate 6.28%
Weighted Average Lease Rate (Discounted) 9.04%
Weighted Average Remaining Term 13.87
Servicing Fee Percentage 1.00%
Number of Days in the Accrual Period 30 30
POOL DATA CURRENT MONTH
Aggregate Net Investment Value (ANIV) 2,384,992,601.87
Note/Certificate Balance 2,380,193,925.19 -- --
Percent of ANIV 99.80% 0.00% 0.00%
Class Allocation Percentage 0.00% 0.00%
Note/Certificate Factor 0.00 0.00
Servicer Advance 1,543,237.47
Servicer Payahead 6,062,731.32
Number of Contracts 149,576
Weighted Average Lease Rate 6.28%
Weighted Average Lease Rate (Discounted) 9.04%
Weighted Average Remaining Term 12.93
Servicing Fee Percentage 1.00%
Number of Days in the Accrual Period 31 31
</TABLE>
<TABLE>
<CAPTION>
Class A3 Class A4 Class A5 Class B
Balance Balance Balance Balance
---------------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C>
TOTAL DISTRIBUTIONS TO NOTEHOLDERS AND CERTIFICATEHOLDERS:
Interest Distributions 1,448,171.61 5,375,000.00 4,472,125.00 365,750.00
Principal Distributions 52,570,890.02 -- -- --
Total Distributions 54,019,061.63 5,375,000.00 4,472,125.00 365,750.00
ORIGINAL DEAL PARAMETER
Aggregate Net Investment Value (ANIV)
Initial Note/Certificate Balance 400,000,000.00 1,000,000,000.00 807,000,000.00 66,000,000.00
Percent of ANIV 12.12% 30.30% 24.45% 2.00%
Class Allocation Percentage 13.57% 33.93% 27.38% 100.00%
Note/Certificate Factor 1.00 1.00 1.00 1.00
Note/Certificate Rate 6.100% 6.450% 6.650% 6.650%
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Lease Rate (Discounted)
Weighted Average Remaining Term
Servicing Fee Percentage
POOL DATA PRIOR MONTH
Aggregate Net Investment Value (ANIV)
Note/Certificate Balance 284,886,218.12 1,000,000,000.00 807,000,000.00 66,000,000.00
Percent of ANIV 11.69% 41.02% 33.11% 2.71%
Class Allocation Percentage 13.62% 47.80% 38.58% 100.00%
Note/Certificate Factor 0.71 1.00 1.00 1.00
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Lease Rate (Discounted)
Weighted Average Remaining Term
Servicing Fee Percentage
Number of Days in the Accrual Period 30 30 30 30
POOL DATA CURRENT MONTH
Aggregate Net Investment Value (ANIV)
Note/Certificate Balance 232,315,328.10 1,000,000,000.00 807,000,000.00 66,000,000.00
Percent of ANIV 9.74% 41.93% 33.84% 2.77%
Class Allocation Percentage 11.39% 49.04% 39.57% 100.00%
Note/Certificate Factor 0.58 1.00 1.00 1.00
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Lease Rate (Discounted)
Weighted Average Remaining Term
Servicing Fee Percentage
Number of Days in the Accrual Period 30 30 30 30
</TABLE>
<TABLE>
<CAPTION>
Transferor
Class C Certificate Interest
Balance Balance Balance
---------------- ---------------- ----------------
<S> <C> <C> <C>
TOTAL DISTRIBUTIONS TO NOTEHOLDERS AND CERTIFICATEHOLDERS:
Interest Distributions 379,500.00 1,201,051.93 33,833.21
Principal Distributions -- -- 102,816.77
Total Distributions 379,500.00 1,201,051.93 136,649.97
ORIGINAL DEAL PARAMETER
Aggregate Net Investment Value (ANIV)
Initial Note/Certificate Balance 66,000,000.00 214,558,289.00 6,600,317.28
Percent of ANIV 2.00% 6.50% 0.20%
Class Allocation Percentage 100.00% 100.00%
Note/Certificate Factor 1.00 1.00
Note/Certificate Rate 6.900% 6.900%
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Lease Rate (Discounted)
Weighted Average Remaining Term
Servicing Fee Percentage
POOL DATA PRIOR MONTH
Aggregate Net Investment Value (ANIV)
Note/Certificate Balance 66,000,000.00 208,878,597.09 4,904,029.17
Percent of ANIV 2.71% 8.57% 0.20%
Class Allocation Percentage 100.00% 100.00%
Note/Certificate Factor 1.00 0.97
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Lease Rate (Discounted)
Weighted Average Remaining Term
Servicing Fee Percentage
Number of Days in the Accrual Period 30 30
POOL DATA CURRENT MONTH
Aggregate Net Investment Value (ANIV)
Note/Certificate Balance 66,000,000.00 208,878,597.09 4,798,676.68
Percent of ANIV 2.77% 8.76% 0.20%
Class Allocation Percentage 100.00% 100.00%
Note/Certificate Factor 1.00 0.97
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Lease Rate (Discounted)
Weighted Average Remaining Term
Servicing Fee Percentage
Number of Days in the Accrual Period 30 30
</TABLE>
I hereby certify to the best of my knowledge that the report provided is true
and correct.
/s/ JOHN WEISICKLE
--------------------------
John Weisickle, Vice President Finance
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