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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) of the
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date earliest event reported): November 20, 2000
WFS Financial 2000-B Owner Trust
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(Exact name of registrant as specified in charter)
California 333-95233 33-0149603
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(State or other jurisdiction (Commission (IRS employer
of incorporation) file number) identification no.)
WFS Financial Auto Loans, Inc. (as Co-Originator)
6655 West Sahara Avenue
Las Vegas, Nevada 89146
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (702) 227-8100
WFS Receivables Corporation (as Co-Originator)
6655 West Sahara Avenue
Las Vegas, Nevada 89146
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (702) 227-8100
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ITEM 5. OTHER EVENTS
On March 6, 2000, the Commission declared effective a Registration Statement on
Form S-3 (File No. 333-95233) under the Securities Act of 1933, as amended (the
"Securities Act"), providing for the issuance by the Co-Originators of several
series of asset-backed securities through a series of trusts to be originated by
the Co-Originators. The WFS Financial 2000-B Owner Trust (the "Trust") was the
first of those trusts to be so originated and the Trust issued the following
securities pursuant to a prospectus dated as of May 24, 2000 consisting of a
prospectus supplement and base prospectus (the "Prospectus"):
$182,000,000 of 6.91% Auto Receivable Backed Notes, Class A-1,
$273,000,000 of 7.50% Auto Receivable Backed Notes, Class A-2,
$324,000,000 of 7.75% Auto Receivable Backed Notes, Class A-3,
$166,000,000 of 7.84% Auto Receivable Backed Notes, Class A-4, and
$55,000,000 of 8.119% Auto Receivable Backed Notes, Class B.
The Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes and Class
B (the "Notes") were issued by the Trust on May 31, 2000. Notes are secured by
the assets of the Trust. The Notes were issued in fully-registered form in
denominations of $1,000 and integral multiples thereof. As more fully described
in the Prospectus, the assets of the Trust will include (i) a pool of retail
installment contracts secured by liens on new and used automobiles and light
trucks ("Contracts"), (ii) a financial guaranty insurance policy issued by
Financial Security Assurance Inc. (the "Insurer"), and (iii) certain accounts
maintained by the Trustee on behalf of the Trust, including all investments held
thereby and all income from the investment of funds therein and all proceeds
therefrom.
Pursuant to the Sale and Servicing Agreement ("Agreement") entered into by and
among the Trust, WFS Financial Inc (the "Master Servicer") and the
Co-Originators of the Trust, the Indenture Trustee will deliver to each
Noteholder with respect to each quarterly distribution to holders of the Notes a
statement (the "Statement to Securityholders") setting forth certain current
information required by the Agreement. In addition, and also as required by the
Agreement, the Master Servicer is required to provide to both the Indenture
Trustee and the Owner Trustee a report regarding the assets of the Trust and the
proceeds received by it therefrom as to the quarterly reporting period preceding
each Distribution Date (the "Distribution Date Statement"). Copies of the
Statement to Securityholders and the Distribution Date Statement with respect to
the November 20, 2000 Distribution Date is filed herewith as Exhibits 21.1 and
21.2, respectively, and are incorporated herein by this reference. Pursuant to
the Agreement, proceeds of the Contracts in the amount of $108,637,847.49 were
invested by the Indenture Trustee during the Due Period with respect to the
current Distribution Date in the Reinvestment Contract entered into among
Western Financial Bank, WFS Financial Auto Loans 2, Inc. and the Indenture
Trustee (the "RIC"), and $108,637,847.49 was distributed from the RIC to the
Indenture Trustee for distribution to the holders of the Notes and as otherwise
required by the Indenture and Sale and Servicing Agreement applicable to the
Trust on the current Distribu tion Date.
No matters occurred within the period as to which this Current Report on Form
8-K relates that would be reportable under Items 1 through 5 of Part II of Form
10-Q.
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ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits
The exhibits listed on the Exhibit Index on page 5 of this Form 8-K are filed
herewith.
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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 hereunto duly authorized.
WFS FINANCIAL 2000-B OWNER TRUST
By: WFS Financial Inc
as Master Servicer
Date: November 30, 2000 /s/ MARK OLSON
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Mark Olson, Senior Vice President and Controller
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INDEX TO EXHIBITS
<TABLE>
<CAPTION>
Exhibit No. Description Page
<S> <C> <C>
21.1 Statement to Securityholders as to the ___
November 20, 2000 Distribution Date
21.2 Distribution Date Statement dated as of ___
October 31, 2000 for the November 20, 2000 Distribution Date
21.3 Consolidated financial statements of Financial ___
Security Assurance Inc. and Subsidiaries as of December 31,
1999 and 1998, and for each of the three years in the period
ended December 31, 1999 (Incorporated by reference from the
Annual Report on Form 10-K of Financial Security Assurance
Holdings Inc. for the year ended December 31, 1999 (file #
1-12644) as filed on or about March 24, 2000)
21.4 Condensed consolidated financial statements of ___
Financial Security Assurance Inc. for the three month
period ended March 31, 2000 (Incorporated by
reference from the Quarterly Report on Form 10-Q of
Financial Security Assurance Holdings Inc. for the
quarter ended March 31, 2000 (file # 1-12644) as
filed on or about May 12, 2000).
21.5 Condensed consolidated financial statements of ___
Financial Security Assurance Inc. for the six month period
ended June 30, 2000 (Incorporated by reference from the
Quarterly Report on Form 10-Q of Financial Security
Assurance Holdings Inc. for the quarter ended June 30, 2000
(file # 1-12644) as filed on or about August 14, 2000).
21.6 Condensed consolidated financial statements of ___
Financial Security Assurance Inc. for the nine month period
ended September 30, 2000 (Incorporated by reference from
the Quarterly Report on Form 10-Q of Financial Security
Assurance Holdings Inc. for the quarter ended September 30,
2000 (file # 1-12644) as filed on or about November 13,
2000).
</TABLE>
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