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Previous: ARCADIA RECEIVABLES FINANCE CORP, 8-K, 2000-12-28 |
Next: ARCADIA RECEIVABLES FINANCE CORP, 8-K, 2000-12-28 |
<PAGE> 1
EXHIBIT 20.1
ASSOCIATES AUTOMOBILE RECEIVABLES TRUST 2000-1
MONTHLY SERVICER'S CERTIFICATE
Accounting Date: November 30, 2000
--------------------------
Determination Date: December 13, 2000
--------------------------
Distribution Date: December 15, 2000
--------------------------
Monthly Period Ending: November 30, 2000
--------------------------
Last Month Distribution November 15, 2000
--------------------------
This Certificate is delivered pursuant to Section 3.9 of the Sale and
Servicing Agreement, dated as of June 1, 2000, among Associates
Automobile Receivables Trust 2000-1 (the "Trust"), Arcadia Receivables
Finance Corp., as seller, Arcadia Financial Ltd., in its individual
capacity and as Servicer (the "Sale and Servicing Agreement"). Terms
used and not otherwise defined herein have the meaning assigned them in
the Sale and Servicing Agreement. Arcadia Financial Ltd., as Servicer
under the Sale and Servicing Agreement, hereby certifies that the
following information is true and correct for the Distribution Date and
the Monthly Period set forth above.
<TABLE>
<S> <C> <C>
I. Collection Account Summary
Available Funds:
Payments Received $24,517,697.37
Liquidation Proceeds (excluding Purchase Amounts) $1,661,119.42
Current Monthly Advances $322,829.74
Amount of withdrawal, if any, from the Reserve Account $0.00
Monthly Advance Recoveries (due to servicer) ($277,806.30)
Purchase Amounts-Warranty and Administrative Receivables $0.00
Income from investment of funds in Trust Accounts $21,228.32
----------------
Total Available Funds $26,245,068.55
================
Amounts Payable on Distribution Date:
1. Trustee and other fees $0.00
2. Servicing Fee $784,150.62
3. Class A Interest Distributable Amount
Class A-1 Interest $543,174.10
Class A-2 Interest $548,166.67
Class A-3 Interest $1,831,083.33
4. First Priority Principal Distribution Amount $0.00
5. Class M Interest Distributable Amount $404,181.94
6. Second Priority Principal Distribution Amount $0.00
7. Class B Interest Distributable Amount $557,345.93
8. Reserve Account Deposit $0.00
9. Regular Principal Distribution Amount $21,576,965.96
10. Certificate Distribution Amount $0.00
----------------
Total Amounts Payable on Distribution Date $26,245,068.55
================
Less: Servicing Fee ($784,150.62)
Less: Investment Income ($21,228.32)
----------------
NET PAYMENT TO TRUSTEE $25,439,689.61
================
</TABLE>
Page 1 (2000-1)
<PAGE> 2
<TABLE>
<S> <C> <C>
II. Available Funds
Collected Funds (see IV)
Payments Received $24,517,697.37
Liquidation Proceeds (excluding
Purchase Amounts) 1,661,119.42
Purchase Amounts $0.00
Monthly Advances - current Monthly Period (net) $45,023.44
Income from investment of funds in Trust Accounts $21,228.32
----------------
Available Funds $26,245,068.55
================
III. Amounts Payable on Distribution Date
a. Taxes due and unpaid with respect to the Trust $0.00
(not otherwise paid by AFL or the Servicer)
b. Outstanding Monthly Advances (not otherwise reimbursed $0.00
to Servicer and to be reimbursed on the Distribution Date)
c. Accrued and unpaid fees (not otherwise paid by AFL or the
Servicer):
Owner Trustee $0.00
Administrator $0.00
Indenture Trustee $0.00
Lockbox Bank $0.00
Custodian $0.00
----------------
d. Basic Servicing Fee (not otherwise paid to Servicer) $784,150.62
e. Supplemental Servicing Fees (not otherwise paid to Servicer) $0.00
g. Payable from Note Interest Distribution Account
Class A-1 Interest Distributable Amount $543,174.10
Class A-2 Interest Distributable Amount $548,166.67
Class A-3 Interest Distributable Amount $1,831,083.33
Class M Interest Distributable Amount $404,181.94
Class B Interest Distributable Amount $557,345.93
h. Payable from Note Principal Distribution Account
Payable to Class A-1 Noteholders $21,576,965.96
Payable to Class A-2 Noteholders $0.00
Payable to Class A-3 Noteholders $0.00
Payable to Class M Noteholders $0.00
Payable to Class B Noteholders $0.00
I. Reserve Account Deposit $0.00
----------------
Total amounts payable on Distribution Date $26,245,068.55
================
</TABLE>
Page 2 (2000-1)
<PAGE> 3
<TABLE>
<S> <C> <C>
IV. Collected Funds
Payments Received:
Supplemental Servicing Fees $0.00
Amount allocable to interest $10,422,477.51
Amount allocable to principal $14,095,219.86
Amount allocable to Insurance Add-On Amounts $0.00
Amount allocable to Outstanding Monthly Advances
(reimbursed to the Servicer prior to deposit
in the Collection Account) $0.00
----------------
Total Payments Received $24,517,697.37
Liquidation Proceeds:
Gross amount realized with respect to Liquidated Receivables $1,684,174.56
Less: (i) reasonable expenses incurred by Servicer $23,055.14
in connection with the collection of such Liquidated
Receivables and the repossession and disposition
of the related Financed Vehicles and (ii) amounts
required to be refunded to Obligors on such Liquidated
Receivables
----------------
Net Liquidation Proceeds $1,661,119.42
----------------
Total Collected Funds $26,178,816.79
================
V. Purchase Amounts Deposited in Collection Account
Purchase Amounts - Warranty Receivables $0.00
Purchase Amounts - Administrative Receivables $0.00
Total Purchase Amounts $0.00
================
VI. Reimbursement of Outstanding Monthly Advances
Outstanding Monthly Advances 549,998.85
Outstanding Monthly Advances to be reimbursed out of 322,829.74
Available Funds on the Distribution Date
Monthly Advances - Recoveries 277,806.30
----------------
Outstanding Monthly Advances - immediately following the
Distribution Date 595,022.29
================
VII. Calculation of Interest and Principal Payments
A. Calculation of Class A-1 Interest Distributable Amount
Class A-1 Interest Rate 6.854%
Actual Days in Period 30
Class A-1 Balance $95,099,054.15
Class A-1 Interest Carryover Shortfall $0.00
Class A-1 Interest Distributable Amount $543,174.10
================
B. Calculation of Class A-2 Interest Distributable Amount
Class A-2 Interest Rate 7.15%
Days in Period (30/360 convention) 30
Class A-2 Balance $92,000,000.00
Class A-2 Interest Carryover Shortfall $0.00
Class A-2 Interest Distributable Amount $548,166.67
================
</TABLE>
Page 3 (2000-1)
<PAGE> 4
<TABLE>
<S> <C>
C. Calculation of Class A-3 Interest Distributable Amount
Class A-3 Interest Rate 7.30%
Days in Period (30/360 convention) 30
Class A-3 Balance $301,000,000.00
Class A-3 Interest Carryover Shortfall $0.00
Class A-3 Interest Distributable Amount $1,831,083.33
================
D. Calculation of Class M Interest Distributable Amount
Class M Interest Rate 7.51%
Days in Period (30/360 convention) 30
Class M Balance $64,583,000.00
Class M Interest Carryover Shortfall $0.00
Class M Interest Distributable Amount $404,181.94
================
E. Calculation of Class B Interest Distributable Amount
Class B Interest Rate 7.83%
Days in Period (30/360 convention) 30
Class B Balance $85,417,000.00
Class B Interest Carryover Shortfall $0.00
Class B Interest Distributable Amount $557,345.93
================
F. Calculation of First Priority Principal Distribution Amount
Class A Note Balance $488,099,054.15
Pool Balance at End of Preceding Collection Period $752,784,596.47
Outstanding Balance of any Class of A Notes on or after the
related Final Maturity Date $0.00
First Priority Principal Distribution Amount $0.00
================
G. Calculation of Second Priority Principal Distribution Amount
Class A + Class M Note Balance $552,682,054.15
Pool Balance at End of Preceding Collection Period $752,784,596.47
First Priority Principal Distribution Amount $0.00
Outstanding Balance of the Class M Notes on or after the
related Final Maturity Date $0.00
Second Priority Principal Distribution Amount $0.00
================
H. Regular Principal Distribution Amount
Class A-1 Outstanding Principal Balance $95,099,054.15
Aggregate Note Balance $638,099,054.15
Pool Balance at End of Preceding Collection Period $752,784,596.47
Specified Overcollateralization Amount $89,584,865.31
Sum of First and Second Priority Principal Distribution Amounts $0.00
Outstanding Balance of the Class B Notes on or after the
related Final Maturity Date $0.00
Regular Principal Distribution Amount $95,099,054.15
================
I. Interest Distribution Amount
Class A-1 Interest Distributable Amount $543,174.10
Class A-2 Interest Distributable Amount $548,166.67
Class A-3 Interest Distributable Amount $1,831,083.33
Class M Interest Distributable Amount $404,181.94
Class B Interest Distributable Amount $557,345.93
----------------
Total Interest Distributable Amount $3,883,951.96
================
</TABLE>
Page 4 (2000-1)
<PAGE> 5
<TABLE>
<S> <C>
J. Principal Distribution Amount
First Priority Principal Distribution Amount $0.00
Second Priority Principal Distribution Amount $0.00
Regular Principal Distribution Amount $95,099,054.15
----------------
Principal Distribution Amount $95,099,054.15
================
VIII. Reserve Account Computations
Reserve Account Balance at Beginning of Period $4,166,737.92
Reserve Draw $0.00
Specified Reserve Account Balance $4,166,737.92
Required Deposit to Reserve Account $0.00
IX. Specified Credit Enhancement Amount $93,751,603.24
X. Specified Overcollateralization Amount $89,584,865.31
XI. Calculation of Servicing Fees
</TABLE>
<TABLE>
<S> <C>
Aggregate Principal Balance as of the first day of the
Monthly Period $752,784,596.47
Multiplied by Basic Servicing Fee Rate 1.25%
Divided by months per year 12
----------------
Basic Servicing Fee $784,150.62
Supplemental Servicing Fees $0.00
----------------
Total of Basic Servicing Fees and Supplemental Servicing
Fees $784,150.62
================
XII. Payment Waterfall
Amounts Payable on Distribution Date:
1. Reimbursement of Monthly Advances $0.00
2. Trustee and other fees $0.00
3. Servicing Fee $784,150.62
4. Class A Interest Distributable Amount
Class A-1 Interest $543,174.10
Class A-2 Interest $548,166.67
Class A-3 Interest $1,831,083.33
5. First Priority Principal Distribution Amount $0.00
6. Class M Interest Distributable Amount $404,181.94
7. Second Priority Principal Distribution Amount $0.00
8. Class B Interest Distributable Amount $557,345.93
9. Reserve Account Deposit $0.00
10. Regular Principal Distribution Amount $21,576,965.96
11. Certificate Distribution Amount $0.00
----------------
Total Amounts Payable on Distribution Date $26,245,068.55
================
</TABLE>
Page 5 (2000-1)
<PAGE> 6
<TABLE>
<S> <C>
XIII. Information for Preparation of Statements to Noteholders
a. Aggregate principal balance of the Notes as of first day
of Monthly Period
Class A-1 Notes $95,099,054.15
Class A-2 Notes $92,000,000.00
Class A-3 Notes $301,000,000.00
Class M Notes $64,583,000.00
Class B Notes $85,417,000.00
b. Amount distributed to Noteholders allocable to principal
Class A-1 Notes $21,576,965.96
Class A-2 Notes $0.00
Class A-3 Notes $0.00
Class M Notes $0.00
Class B Notes $0.00
c. Aggregate principal balance of the Notes (after giving
effect to distributions on the Distribution Date)
Class A-1 Notes $73,522,088.19
Class A-2 Notes $92,000,000.00
Class A-3 Notes $301,000,000.00
Class M Notes $64,583,000.00
Class B Notes $85,417,000.00
d. Interest distributed to Noteholders
Class A-1 Notes $543,174.10
Class A-2 Notes $548,166.67
Class A-3 Notes $1,831,083.33
Class M Notes $404,181.94
Class B Notes $557,345.93
e. 1. Class A-1 Interest Carryover Shortfall, if any (and change in
amount from preceding statement) $0.00
2. Class A-2 Interest Carryover Shortfall, if any (and change in
amount from preeceding statement) $0.00
3. Class A-3 Interest Carryover Shortfall, if any (and change in
amount from preceding statement) $0.00
4. Class M Interest Carryover Shortfall, if any (and change in
amount from preceding statement) $0.00
5. Class B Interest Carryover Shortfall, if any (and change in
amount from preceding statement) $0.00
g. Total of Basic Servicing Fee, Supplemental Servicing Fees and other
fees, if any, paid by the Trustee on behalf of the Trust $784,150.62
h. Note Pool Factors (after giving effect to distributions on the
Distribution Date)
Class A-1 Notes 35.52%
Class A-2 Notes 100.00%
Class A-3 Notes 100.00%
Class M Notes 100.00%
Class B Notes 100.00%
XIV. Pool Balance and Aggregate Principal Balance
Pool Balance at beginning of Monthly Period $752,784,596.47
Pool Balance at end of Monthly Period $735,291,521.96
</TABLE>
Page 6 (2000-1)
<PAGE> 7
<TABLE>
<CAPTION>
Monthly Period Liquidated Receivables Monthly Period Warranty Receivables
Loan # Amount Loan # Amount
------ ------ ------ ------
<S> <C> <C> <C>
see attached listing $0.00 see attached listing $0.00
</TABLE>
<TABLE>
<S> <C>
XV. Performance
Original Pool Balance $833,347,584.32
Current Pool Balance $735,291,521.96
Age of the Pool (months) 6
Delinquency Rate
Sum of Principal Balance of Accounts 30 or more Days Delinquent $23,322,800.60
Default Rate
Cumulative balance of defaults as of the beginning of the current
Accounting Period $7,606,221.44
Sum of Principal Balances of Receivables that became Liquidated Receivables $3,397,854.65
during the Monthly Period or that became Purchased Receivables
during Monthly Period (if delinquent more than 30 days with
respect to any portion of a Scheduled Payment at time of
purchase)
Cumulative balance of defaults as of the end of the current Accounting Period $11,004,076.09
Net Loss Rate
Cumulative net losses as of the preceding Accounting Date $3,440,445.45
Aggregate of Principal Balances as of the Accounting Date $3,397,854.65
(plus accrued and unpaid interest thereon to the end of the
Monthly Period) of all Receivables that became Liquidated
Receivables or that became Purchased Receivables and that were
delinquent more than 30 days with respect to any portion of a
Scheduled Payment as of the Accounting Date
Liquidation Proceeds Received by Trust $1,661,119.42
Cumulative net losses as of the current Accounting Date $5,177,180.68
</TABLE>
Page 7 (2000-1)
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