UACSC 2000-A OWNER TRUST AUTO REC BACKED NOTES
8-K, 2000-03-23
ASSET-BACKED SECURITIES
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                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 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 reported): March 8, 2000

                            UACSC 2000-A OWNER TRUST
             (Exact name of registrant as specified in its charter)

           Delaware                 333-77535-04              35-1937340
 (State or other jurisdiction     (Commission File           (IRS Employer
    of incorporation)                  Number)             Identification No.)
                                                           UAC Securitization
                                                              Corporation

     9240 Bonita Beach Road, Suite 1109-A
     Bonita Springs, Florida                                    34135
     (address of principal                                    (zip code)
     executive offices)
     UAC Securitization Corporation

     Registrant's telephone number including area code    (941) 948-1850



<PAGE>

     The  Registrant  (the UACSC  2000-A  Owner  Trust,  or the  "Trust")  is an
automobile  receivable  securitization  trust  formed  pursuant  to a Trust  and
Servicing  Agreement  dated as of  February  1, 2000  among  UAC  Securitization
Corporation, as "Seller," Union Acceptance Corporation, as "Servicer," and First
Union Trust Company, National Association, as "Owner Trustee" (the "Agreement").
The Registrant is filing this Form 8-K and plans to file similar current reports
monthly  in lieu of  reports  on Form 10-Q and  compliance  with  certain  other
requirements  of  Section  15(d) of the  Securities  Exchange  Act of  1934,  as
amended,  which are otherwise  applicable to the Trust,  on the basis of the SEC
staff position  described in numerous no-action letters applicable to securities
such as those issued  pursuant to the Agreement.  See,  e.g.,  Prime Credit Card
Master Trust (pub. available October 16, 1992), Private Label Credit Card Master
Trust (pub.  available May 20, 1992),  Sears Receivable  Financing  Group,  Inc.
(pub.  available  March  31,  1992),  Discover  Financing  Group,  Incorporated,
Discover Card Trust 1991-E (pub.  available  February 13,  1992),  Bank One Auto
Trust 1995-A (pub.  available August 16, 1995) and Volkswagen Credit Auto Master
Trust (pub. available May 9, 1997).


Item 5.  Other Events.

     Union Acceptance  Corporation,  as Servicer of the Trust,  hereby files the
February  29,  2000  monthly  Certificate  Report  with  respect to the Trust as
Exhibit 99-1.

Item 7.  Financial Statements and Exhibits.

Exhibit 99-1--Monthly Servicer's Certificate Report to the Trust.







                                      -2-
<PAGE>

         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 hereunto duly authorized as Servicer of the UACSC 2000-A Auto Trust,
for and on behalf of UACSC 2000-A Auto Trust.

                                          UACSC 2000-A Auto Trust

                                          By:  Union Acceptance Corporation,
                                               as Servicer


Date: March 21, 2000                      /s/ Melanie S. Otto
                                          -----------------------------------
                                          Melanie S. Otto
                                          Vice President




EXHIBIT INDEX


No.      Description

99-1     UACSC  2000-A  Auto Trust  Monthly  Servicer's  Certificate  Report for
         February 29, 2000



                                       -3-




                                                                      UACSC 00-A

                          UNION ACCEPTANCE CORPORATION
                                   (Servicer)
                                  FEBRUARY 2000

<TABLE>
<CAPTION>
NOTE BALANCE RECONCILIATION                                                    DOLLARS
                                                     CLASS A-1       CLASS A-2        CLASS A-3      CLASS A-4
                                                    -------------   -------------   -------------    -------------
<S>                                                 <C>             <C>             <C>              <C>
Original Note Balances                              30,000,000.00   90,425,000.00   88,175,000.00    57,158,000.00
Beginning Period Note Balances                      30,000,000.00   90,425,000.00   88,175,000.00    57,158,000.00
Principal Collections - Scheduled Payments           3,414,397.57               -               -                -
Principal Collections - Payoffs                      5,844,235.24               -               -                -
Principal Withdrawal from Payahead                              -               -               -                -
Gross Principal Charge Offs                             16,435.98               -               -                -
Repurchases                                                     -               -               -                -
Accelerated Principal                                  255,829.69               -               -                -
Principal shortfall, up to Accelerated Principal                -               -               -                -
Total Principal to be Distributed                    9,530,898.48               -               -                -
                                                    -------------   -------------   -------------    -------------
Ending Note Balances                                20,469,101.52   90,425,000.00   88,175,000.00    57,158,000.00
                                                    =============   =============   =============    =============


Note Factor                                             0.6823034       1.0000000       1.0000000        1.0000000
Interest Rate                                             5.99250%         6.7200%         7.2700%           7.440%
</TABLE>


<TABLE>
<CAPTION>
NOTE BALANCE RECONCILIATION                                                             NUMBERS
                                                      CLASS B            TOTAL
                                                    -------------    --------------      ------
<S>                                                 <C>              <C>                 <C>
Original Note Balances                              16,963,339.00    282,721,339.00      19,851
Beginning Period Note Balances                      16,963,339.00    282,721,339.00      19,851
Principal Collections - Scheduled Payments                      -      3,414,397.57
Principal Collections - Payoffs                                 -      5,844,235.24         453
Principal Withdrawal from Payahead                              -                 -           0
Gross Principal Charge Offs                                     -         16,435.98           1
Repurchases                                                     -                 -           0
Accelerated Principal                                           -        255,829.69
Principal shortfall, up to Accelerated Principal                -
Total Principal to be Distributed                               -      9,530,898.48
                                                    -------------    --------------      ------
Ending Note Balances                                16,963,339.00    273,190,440.52      19,397
                                                    =============    ==============      ======



Note Factor                                             1.0000000         0.9662887
Interest Rate                                               7.570%           7.0109%
</TABLE>

<PAGE>


<TABLE>
<CAPTION>
PRINCIPAL BALANCE RECONCILIATION

<S>                                                                     <C>
Original Principal Balance                                              282,721,339.93
Beginning Period Principal Balance                                      282,721,339.93
Principal Collections - Scheduled Payments                                3,414,397.57
Principal Collections - Payoffs                                           5,844,235.24
Principal Withdrawal from Payahead                                                   -
Gross Principal Charge Offs                                                  16,435.98
Repurchases                                                                          -
                                                                        --------------
Ending Principal Balance                                                273,446,271.14
                                                                        ==============
Ending Note Balances                                                    273,190,440.52
                                                                        ==============
Tail not sold                                                                     0.93
                                                                        ==============
Cumulative Accelerate Principal                                             255,829.69
                                                                        ==============


CASH FLOW RECONCILIATION

Principal Wired                                                           9,265,420.28
Interest Wired                                                            1,530,232.31
Withdrawal from Payahead Account
Repurchases (Principal and Interest)                                                 -
Charge Off Recoveries                                                           246.97
Interest Advances                                                            24,094.54
Collection Account Interest Earned                                           15,724.86
Spread Account Withdrawal                                                            -
Policy Draw for Principal or Interest                                                -
                                                                        --------------

Total Cash Flow                                                          10,835,718.96
                                                                        ==============


TRUSTEE DISTRIBUTION (3/8/00)

Total Cash Flow                                                          10,835,718.96
Unrecovered Advances on Defaulted Receivables
Servicing Fee (Due and Unpaid)                                                       -
Interest to Class A-1 Noteholders, including any overdue amounts            109,862.50
Interest to Class A-2 Noteholders, including any overdue amounts            388,224.67
Interest to Class A-3 Noteholders, including any overdue amounts            409,548.38
Interest to Class A-4 Noteholders, including any overdue amounts            271,691.03
Interest to Class B Noteholders, including any overdue amounts               82,041.30
Principal to Class A-1 Noteholders, including any overdue amounts         9,530,898.48
Principal to Class A-2 Noteholders, including any overdue amounts                    -
Principal to Class A-3 Noteholders, including any overdue amounts                    -
Principal to Class A-4 Noteholders, including any overdue amounts                    -
Principal to Class B Noteholders, including any overdue amounts                      -
Insurance Premium                                                            36,439.64
Interest Advance Recoveries from Payments                                            -
Unreimbursed draws on the Policy for Principal or Interest                           -
Deposit to Payahead                                                           7,012.96
Payahead Account Interest to Servicer                                                -
Excess                                                                               -
                                                                        --------------

Net Cash                                                                             -
                                                                        ==============

Servicing Fee Retained from Interest Collections                            125,653.93
</TABLE>
<PAGE>


<TABLE>
<CAPTION>

SPREAD ACCOUNT RECONCILIATION

<S>                                                                       <C>
Original Balance                                                          2,120,410.05
Beginning Balance                                                         2,120,410.05
Trustee Distribution of Excess
Interest Earned                                                               5,003.42
Spread Account Draws                                                                 -
Reimbursement for Prior Spread Account Draws                                         -
Distribution of Funds to Servicer                                            (5,003.42)
                                                                        --------------
Ending Balance                                                            2,120,410.05
                                                                        ==============

Required Balance                                                          3,534,016.75



FIRST LOSS PROTECTION AMOUNT RECONCILIATION

Original Balance                                                         14,136,067.00
Beginning Balance                                                        14,136,067.00
Reduction Due to Spread Account                                          (2,120,410.05)
Reduction Due to Accelerated Principal                                               -
Reduction Due to Principal Reduction                                                 -
                                                                        --------------
Ending Balance                                                           12,015,656.95
                                                                        ==============

First Loss Protection Required Amount                                    12,015,656.95
First Loss Protection Fee %                                                       2.00%
First Loss Protection Fee                                                    19,358.56



POLICY RECONCILIATION

Original Balance                                                        282,721,339.00
Beginning Balance                                                       282,721,339.00
Draws                                                                                -
Reimbursement of Prior Draws                                                         -
Ending Balance                                                          282,721,339.00
                                                                        ==============

Adjusted Ending Balance Based Upon Required Balance                     272,457,052.28
                                                                        ==============
Required Balance                                                        272,457,052.28


PAYAHEAD RECONCILIATION


Beginning Balance                                                                    -
Deposit                                                                       7,012.96
Payahead Interest                                                                    -
Withdrawal                                                                           -
                                                                        --------------
Ending Balance                                                                7,012.96
                                                                        ==============
</TABLE>
<PAGE>

CURRENT DELINQUENCY
                                         PRINCIPAL        % OF ENDING
    # PAYMENTS DELINQUENT    NUMBER      BALANCE         POOL BALANCE
    ---------------------    ------      -------         ------------
1 Payment                      131      1,576,726.88         0.58%
2 Payments                      5          76,468.43         0.03%
3 Payments                      1          16,641.87         0.01%
                               ---      ------------         ----
Total                          137      1,669,837.18         0.61%
                               ===      ============         ====



DELINQUENCY RATE (60+)
                                                   RECEIVABLE
                                 END OF PERIOD    DELINQUENCY
   PERIOD         BALANCE        POOL BALANCE         RATE
   ------         -------        ------------         ----
Current           93,110.30     273,190,440.52        0.03%
1st Previous
2nd Previous


NET LOSS RATE
<TABLE>
<CAPTION>
                                                                                             DEFAULTED
                                                  LIQUIDATION           AVERAGE               NET LOSS
   PERIOD                            BALANCE       PROCEEDS            POOL BALANCE         (ANNUALIZED)
   ------                            -------       --------            ------------         ------------
<S>                                   <C>           <C>              <C>                        <C>
Current                               16,435.98     246.97           277,955,889.76             0.07%
1st Previous
2nd Previous

Gross Cumulative Charge Offs          16,435.98      Number of Repossessions                       1
Gross Liquidation Proceeds               246.97      Number of Inventoried Autos EOM               1
Net Cumulative Loss Percentage            0.01%      Amount of Inventoried Autos EOM        6,300.00
Net Cumulative Loss Percentage
 (adjusted for estimated
 future Liquidation Proceeds)             0.00%
Trigger                                   0.60%
Status                                    OK
</TABLE>


EXCESS YIELD TRIGGER
                                                      EXCESS YIELD
                  EXCESS            END OF PERIOD      PERCENTAGE
   PERIOD          YIELD            POOL BALANCE      (ANNUALIZED)
   ------          -----            ------------      ------------
Current           7,012.96        273,190,440.52            0.03%
1st Previous             -                     -            0.00%
2nd Previous             -                     -            0.00%
3rd Previous             -                     -            0.00%
4th Previous             -                     -            0.00%
5th Previous             -                     -            0.00%

                                               CURRENT
                                                LEVEL      TRIGGER    STATUS
                                                -----      -------    ------
Six Month Average Excess Yield                   N/A        1.50%      N/A

Trigger Hit in Current or any Previous Month                            NO



DATE: 3/6/00                                            /s/ Ashley Vukovits
                                                        ------------------------
                                                        ASHLEY VUKOVITS
                                                        FINANCE OFFICER






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