-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EgQr9UhMW5lQ6AsrGkgF8hEuDPuGzLuPWj7dysdEsWEuvd3w4mNgu2hOnkp1ZGpC 35ZSW8stl3xuIEcksSZJCA== 0000908834-96-000207.txt : 19961001 0000908834-96-000207.hdr.sgml : 19961001 ACCESSION NUMBER: 0000908834-96-000207 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 19960630 FILED AS OF DATE: 19960930 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: UACSC 1995-D AUTO TRUST CENTRAL INDEX KEY: 0001004025 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 331937340 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-97320 FILM NUMBER: 96637164 BUSINESS ADDRESS: STREET 1: 250 N SHADELAND AVENUE STREET 2: SUITE 210A CITY: INDIANAPOLIS STATE: IN ZIP: 46219 BUSINESS PHONE: 3172316466 MAIL ADDRESS: STREET 1: C/O UNION ACCEPTANCE SECURITIZATION STREET 2: 250 N SHADELAND CITY: INDIANAPOLIS STATE: IN ZIP: 46219 10-K 1 UACSC 1995-D AUTO TRUSTS FORM 10-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10 - K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the annual fiscal period ended June 30, 1996 Commission File No. 033-97320-02 UACSC 1995-D AUTO TRUST (Exact name of registrant as specified in its charter) New York 35-1937340 State or other jurisdiction of (I.R.S. Employer incorporation or organization Identification Number) UAC Securitization Corporation 250 Shadeland Avenue, Suite 210 A Indianapolis, Indiana 46219 (address of principal (zip code) executive offices) UAC Securitization Corporation Registrant's telephone number including area code (317) 231-6466 -------------- Securities registered pursuant to Section 12 (b) of the Act: None ---- Securities registered pursuant to Section 12 (g) of the Act: None ---- Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1937 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No DOCUMENTS INCORPORATED BY REFERENCE: None 2. PART I Item 1. Business. The sole and only "business" of the Trust is the collection and distribution of payments on the automobile and light truck receivables, in the manner described in the Registration Statement. Accordingly, there is no relevant information to report in response to Item 101 of Regulation S-K. Item 2. Properties. The Trust does not have any physical properties. Accordingly, this item 1 is inapplicable. Item 3. Legal Proceedings. There are no material pending legal proceedings involving either the Trust, or, with respect to any Certificates or any other trust property, involving the Trustee or the Company. Item 4. Submission of Matters to a Vote of Security Holders. No Votes or consents of Certificateholders are solicited during the preceding fiscal year for any purpose. 3. PART II Item 5. Market Price or and Dividends on the Registrant's Equity and Related Stockholder Matters. There is no established public trading market for the Certificates. As of June 30, 1996, there were forty-three (43) registered Certificateholders. The Trust pays no dividends. See Exhibit 99-1 and 99-2 for information with respect to distributions to Certificateholders. Item 6. Selected Financial Data. No financial data is required of UAC Securitization Corporation, as Registrant (Registration Statement No. 033-97320-02 on form S-3), inasmuch as the Registration Statement was filed for and on behalf of UACSC Auto Trusts and, furthermore, because UAC Securitization Corporation is not a guarantor of any of the payments due from the Trust to Certificateholders. The regular monthly report form, which the Trustee is required to include with each monthly distribution of Trust assets to Certificateholders, sets forth for the prior calendar month, as well as cumulatively, all of the relevant financial information required by the applicable pooling and servicing agreement to be reportable to Certificateholders. The UACSC 1995-D Auto Trust Monthly Servicer's Certificate Report for the months ending April 30, 1996, May 31, 1996, and June 30, 1996, is incorporated herein by reference and attached hereto as an Exhibit (Exhibit No. 99-1) "additional exhibits". 4. A Consolidated Monthly Servicer's Certificate Report, for the period November 30, 1995, through June 30, 1996, is likewise incorporated herein by reference and is attached hereto as Exhibit 99-2. The foregoing presents all relevant financial information relating to the Trust. Because of the limited business activity of the Trust, the Selected Financial Data specified in Item 301 of Regulation S-K would not provide meaningful additional information. Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation. Because of the limited business activity of the Trust, the presentation of Management's Discussion and Analysis of Financial Condition and Results of Operations, as otherwise required by Item 303 of Regulation S-K, would not be meaningful. All relevant information is contained in the monthly statements and consolidated summary annual statement. Item 8. Financial Statements and Supplementary Data. As discussed above, furnishing the traditional financial information required by Item 8 of Form 10-K would not add relevant information to that provided by the foregoing statements. Item 9. Disagreements with Accountants on Accounting and Financial Disclosure. Not applicable. 5. PART III Item 10. Directors and Executive Officers. Not applicable. Item 11. Executive Compensation. Not applicable. Item 12. Security Ownership of Certain Beneficial Owners and Management. As of June 30, 1996, there were a total of forty-three (43) Registered Certificateholders, all of whom maintained their security positions with the Depository Trust Company. While some of these Certificateholders' security positions in the Trust exceeded 5% of the outstanding Certificate Balance; such securities do not constitute voting securities within the meaning of Item 403 of Regulation S-K. Item 13. Certain Relationships and Related Transactions. Union Acceptance Corporation and UAC Securitization Corporation receive payments from the Trust in accordance with the terms of the applicable pooling and servicing agreement. 6. PART IV Item 14. Exhibits, Financial Statement Schedules, and Reports on For 8-K. No reports on Form 8-K have been filed during the last quarter of the period covered by this report. Incorporated herein and attached hereto as Exhibit 99-1 is a copy of of the Monthly Servicer's Certificate Reports to the Trust, for the months of April 30, 1996, May 31, 1996, and June 30, 1996; as Exhibit 99-2 the Consolidated Monthly Servicer's Certificate Report for the period November 30, 1995, through June 30, 1996. 7. Pursuant to the requirements of Section 13 or 15 (d) 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, for and on behalf of UACSC 1995-D Auto Trust. UASC 1995-D Auto Trust By: UAC Securitization Corporation, Depositor Date: September 27 , 1996 By: s/John Stainbrook ------------------------------- John Stainbrook President Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated. By: UAC Securitization Corporation, Depositor September 27 , 1996 By: s/John Stainbrook --------------------------- John Stainbrook President / Director September 27 , 1996 By: s/Cindy Whitaker --------------------------- Cindy Whitaker Director September 27 , 1996 By: s/Rick Brown --------------------------- Rick Brown,Treasurer(Chief Financial and Accounting Officer) September 27 , 1996 By: s/Jerry Von Deylen --------------------------- Jerry Von Deylen, Director September , 1996 By: --------------------------- Amanda Foster, Director September , 1996 By: --------------------------- Thomas Kelleher, Director 8. EXHIBIT INDEX No. Description 4 Pooling and Servicing Agreement Respecting UACSC 1995-D Auto Trust* UACSC 1995-D Auto Trust Monthly Servicer's Certificate Reports: 99-1(a) Month Ended April 30, 1996 99-1(b) Month Ended May 31, 1996 99-1(c) Month Ended June 30, 1996 UACSC 1995-D Auto Trust Consolidated Monthly Servicer's Certificate Report Period 99-2 11/30/95 Through 06/30/96 *Incorporated by Reference to Exhibit 4 to Form 8-K filed November 24, 1995. 9. EX-99.1(A) 2 SERVICER'S CERTIFICATE REPORT UACSC 95-D UNION ACCEPTANCE CORPORATION (Servicer) MONTH ENDING 4/30/96
PRINCIPAL BALANCE RECONCILIATION D O L L A R S NUMBERS 'A' PIECE 'B' PIECE TOTAL OF A+B ORIGINAL PRINCIPAL BALANCE $187,050,479.13 $18,499,497.94 $205,549,977.07 15,213 BEGINNING PERIOD PRINCIPAL BALANCE $162,310,259.98 $16,052,663.07 $178,362,923.05 13,905 COLLECTIONS (REGULAR PAYMENTS) $ 2,079,303.25 $ 205,645.38 $ 2,284,948.63 -- COLLECTIONS (PRINCIPAL - PAYOFFS) $ 2,544,561.26 $ 251,659.90 $ 2,796,221.16 241 WITHDRAWAL FROM PAYAHEAD (PRINCIPAL) $ 4,200.85 $ 415.47 $ 4,616.32 -- GROSS CHARGE OFFS $ 512,001.50 $ 50,637.51 $ 562,639.01 35 REPURCHASES $ 20,048.56 $ 1,982.82 $ 22,031.38 2 ENDING BALANCE $157,150,144.56 $15,542,321.99 $172,692,466.55 13,627 CERTIFICATE FACTOR 0.8401483 0.8401483 PASS THROUGH RATE 5.965% 6.025% CASH FLOW RECONCILIATION PRINCIPAL WIRED $5,120,148.64 INTEREST WIRED $1,873,702.93 WITHDRAWAL FROM PAYAHEAD ACCOUNT $ 7,625.09 REPURCHASES $ 22,620.74 GROSS CHARGE OFF RECOVERIES $ 248,292.01 GROSS INTEREST ADVANCES $ 35,887.42 CIA INTEREST EARNED $ 17,578.22 SPREAD ACCOUNT WITHDRAWAL $ 0.00 "A" SURETY BOND DRAW FOR "I" INTEREST $ 0.00 "A" SURETY BOND DRAW FOR "A" PRINCIPAL OR INTEREST $ 0.00 "B" SURETY BOND DRAW FOR "B" PRINCIPAL OR INTEREST $ 0.00 TOTAL $7,325,855.05 TRUSTEE DISTRIBUTION ( 5/07/96) TOTAL CASH FLOW $7,325,855.05 UNRECOVERED INTEREST ADVANCES $ 20,299.76 SERVICING FEE (DUE AND UNPAID) $ 0.00 INTEREST TO 'A' CERTIFICATE HOLDERS $ 806,817.25 INTEREST TO 'I' CERTIFICATE HOLDERS $ 321,413.69 INTEREST TO 'B' CERTIFICATE HOLDERS $ 80,597.75 PRINCIPAL TO 'A' CERTIFICATE HOLDERS $5,160,115.41 PRINCIPAL TO 'B' CERTIFICATE HOLDERS $ 510,341.09 SURETY BOND PREMIUM $ 14,391.04 INTEREST ADVANCE RECOVERIES: Payments $ 28,386.10 * UNREIMBURSED DRAWS ON CLASS 'A' SURETY BOND FOR CLASS 'I' INTEREST $ 0.00 UNREIMBURSED DRAWS ON CLASS 'A' SURETY BOND FOR CLASS 'A' INT. OR PRI $ 0.00 UNREIMBURSED DRAWS ON CLASS 'B' SURETY BOND FOR CLASS 'B' INT. OR PRI $ 0.00 DEPOSIT TO PAYAHEAD $ 44,713.03 CIA INTEREST TO SERVICER (TO HIT 5/07/96) $ 17,578.22 PAYAHEAD ACCOUNT INTEREST TO SERVICER (TO HIT 5/07/96) $ 415.26 EXCESS YIELD (TO HIT 5/07/96) $ 320,786.45 BALANCE $ 0.00
SPREAD ACCOUNT AND SURETY "A" AND "B" RECONCILIATION SPREAD ACCOUNT "A SURETY BOND "B" SURETY BOND ORIGINAL BALANCE $ 0.00 $14,388,498.39 $ 18,499,497.94 BEGINNING BALANCE $1,992,857.08 $13,091,788.38 $ 16,052,663.07 TRUSTEE DISTRIBUTION OF EXCESS YIELD (4/07/96) $ 329,597.52 -- -- INTEREST EARNED (4/30/96) $ 9,557.47 $ 0.00 0.00 DRAWS $ 0.00 $ 0.00 0.00 REIMBURSEMENT FOR PRIOR DRAWS $ 0.00 $ 0.00 0.00 DISTRIBUTION OF FUNDS TO SERVICER ( 4/07/96) $ 0.00 -- -- ENDING BALANCE $2,332,012.07 $13,091,788.38 $16,052,663.07 ADJUSTED END BAL BASED UPON REQ. BAL $12,469,110.57 $15,542,321.99 REQUIRED BALANCE $8,918,146.15 $12,469,110.57 $15,542,321.99 DISTRIBUTION OF FUNDS TO SERVICER (5/07/96) $ 0.00 MONTHLY SERVICING FEE AND THE SPREAD AMOUNT $ 1,134,923.70 SERVICING FEE (RETAINED FROM INTEREST COLLECTIONS) $ 148,635.77
EX-99.1(B) 3 SERVICER'S CERTIFICATE REPORT UACSC 95-D UNION ACCEPTANCE CORPORATION (Servicer) MONTH ENDING 5/31/96
PRINCIPAL BALANCE RECONCILIATION D O L L A R S NUMBERS 'A' PIECE 'B' PIECE TOTAL OF A+B ORIGINAL PRINCIPAL BALANCE $187,050,479.13 $18,499,497.94 $205,549,977.07 15,213 BEGINNING PERIOD PRINCIPAL BALANCE $157,150,144.56 $15,542,321.99 $172,692,466.55 13,627 COLLECTIONS (REGULAR PAYMENTS) $ 2,036,703.49 $ 201,432.21 $ 2,238,135.70 -- COLLECTIONS (PRINCIPAL - PAYOFFS) $ 2,162,581.27 $ 213,881.66 $ 2,376,462.93 211 WITHDRAWAL FROM PAYAHEAD (PRINCIPAL) $ 7,850.12 $ 776.39 $ 8,626.50 -- GROSS CHARGE OFFS $ 627,638.38 $ 62,074.13 $ 689,712.51 46 REPURCHASES $ 12,678.55 $ 1,253.92 $ 13,932.47 4 ENDING BALANCE $152,302,692.76 $15,062,903.68 $167,365,596.44 13,366 CERTIFICATE FACTOR 0.8142331 0.8142331 PASS THROUGH RATE 5.965% 6.025% CASH FLOW RECONCILIATION PRINCIPAL WIRED $4,650,570.26 INTEREST WIRED $1,785,703.97 WITHDRAWAL FROM PAYAHEAD ACCOUNT $ 12,830.62 REPURCHASES $ 14,263.17 GROSS CHARGE OFF RECOVERIES $ 262,331.02 GROSS INTEREST ADVANCES $ 39,917.11 CIA INTEREST EARNED $ 17,550.05 SPREAD ACCOUNT WITHDRAWAL $ 0.00 "A" SURETY BOND DRAW FOR "I" INTEREST $ 0.00 "A" SURETY BOND DRAW FOR "A" PRINCIPAL OR INTEREST $ 0.00 "B" SURETY BOND DRAW FOR "B" PRINCIPAL OR INTEREST $ 0.00 TOTAL $6,783,166.20 TRUSTEE DISTRIBUTION ( 6/07/96) TOTAL CASH FLOW $6,783,166.20 UNRECOVERED INTEREST ADVANCES $ 19,715.38 SERVICING FEE (DUE AND UNPAID) $ 0.00 INTEREST TO 'A' CERTIFICATE HOLDERS $ 781,167.18 INTEREST TO 'I' CERTIFICATE HOLDERS $ 308,857.64 INTEREST TO 'B' CERTIFICATE HOLDERS $ 78,035.41 PRINCIPAL TO 'A' CERTIFICATE HOLDERS $4,847,451.80 PRINCIPAL TO 'B' CERTIFICATE HOLDERS $ 479,418.31 SURETY BOND PREMIUM $ 14,412.04 INTEREST ADVANCE RECOVERIES: Payments $ 23,456.18 UNREIMBURSED DRAWS ON CLASS 'A' SURETY BOND FOR CLASS 'I' INTEREST $ 0.00 UNREIMBURSED DRAWS ON CLASS 'A' SURETY BOND FOR CLASS 'A' INT. OR PRI $ 0.00 UNREIMBURSED DRAWS ON CLASS 'B' SURETY BOND FOR CLASS 'B' INT. OR PRI $ 0.00 DEPOSIT TO PAYAHEAD $ 40,720.11 CIA INTEREST TO SERVICER (TO HIT 6/07/96) $ 17,550.05 PAYAHEAD ACCOUNT INTEREST TO SERVICER (TO HIT 6/07/96) $ 527.42 EXCESS YIELD (TO HIT 6/07/96) $ 171,854.69 BALANCE $ 0.00
SPREAD ACCOUNT AND SURETY "A" AND "B" RECONCILIATION SPREAD ACCOUNT "A" SURETY BOND "B" SURETY BOND -------------- --------------- --------------- ORIGINAL BALANCE $ 0.00 $14,388,498.39 $18,499,497.94 BEGINNING BALANCE $2,332,012.07 $12,469,110.57 $15,542,321.99 TRUSTEE DISTRIBUTION OF EXCESS YIELD (5/07/96) $ 320,786.45 -- -- INTEREST EARNED (5/31/96) $ 11,490.79 $ 0.00 $ 0.00 DRAWS $ 0.00 $ 0.00 $ 0.00 REIMBURSEMENT FOR PRIOR DRAWS $ 0.00 $ 0.00 $ 0.00 DISTRIBUTION OF FUNDS TO SERVICER ( 5/07/96) $ 0.00 -- -- ENDING BALANCE $2,664,289.31 $12,469,110.57 $15,542,321.99 ADJUSTED END BAL BASED UPON REQ. BAL $11,870,489.82 15,062,903.68 REQUIRED BALANCE $8,634,623.33 $11,870,489.82 $15,062,903.68 DISTRIBUTION OF FUNDS TO SERVICER (6/07/96) 0.00 MONTHLY SERVICING FEE AND THE SPREAD AMOUNT $ 1,070,411.77 SERVICING FEE (RETAINED FROM INTEREST COLLECTIONS) $ 143,910.39
EX-99.1(C) 4 SERVICER'S CERTIFICATE REPORT UACSC 95-D UNION ACCEPTANCE CORPORATION (Servicer) MONTH ENDING 6/30/96
PRINCIPAL BALANCE RECONCILIATION D O L L A R S NUMBERS 'A' PIECE 'B' PIECE TOTAL OF A+B ORIGINAL PRINCIPAL BALANCE $187,050,479.13 $18,499,497.94 $205,549,977.07 15,213 BEGINNING PERIOD PRINCIPAL BALANCE $152,302,692.76 $15,062,903.68 $167,365,596.44 13,366 COLLECTIONS (REGULAR PAYMENTS) $ 1,720,735.96 $ 170,182.68 $ 1,890,918.64 -- COLLECTIONS (PRINCIPAL - PAYOFFS) $ 2,207,517.94 $ 218,325.95 $ 2,425,843.89 208 WITHDRAWAL FROM PAYAHEAD (PRINCIPAL) $ 9,741.99 $ 963.49 $ 10,705.48 -- GROSS CHARGE OFFS $ 335,247.81 $ 33,156.38 $ 368,404.19 27 REPURCHASES $ 17,083.28 $ 1,689.56 $ 18,772.84 6 ENDING BALANCE $148,012,365.77 $14,638,585.63 $162,650,951.40 13,125 CERTIFICATE FACTOR 0.7912964 0.7912964 PASS THROUGH RATE 5.965% 6.025% CASH FLOW RECONCILIATION PRINCIPAL WIRED $ 4,360,825.46 INTEREST WIRED $ 1,600,695.66 WITHDRAWAL FROM PAYAHEAD ACCOUNT $ 17,114.64 REPURCHASES $ 21,091.92 GROSS CHARGE OFF RECOVERIES $ 390,886.24 GROSS INTEREST ADVANCES $ 36,693.11 CIA INTEREST EARNED $ 16,485.52 SPREAD ACCOUNT WITHDRAWAL $ 0.00 "A" SURETY BOND DRAW FOR "I" INTEREST $ 0.00 "A" SURETY BOND DRAW FOR "A" PRINCIPAL OR INTEREST $ 0.00 "B" SURETY BOND DRAW FOR "B" PRINCIPAL OR INTEREST $ 0.00 TOTAL $ 6,443,792.55 TRUSTEE DISTRIBUTION (7/07/96) TOTAL CASH FLOW $6,443,792.55 UNRECOVERED INTEREST ADVANCES $ 11,038.92 SERVICING FEE (DUE AND UNPAID) $ 0.00 INTEREST TO 'A' CERTIFICATE HOLDERS $ 757,071.30 INTEREST TO 'I' CERTIFICATE HOLDERS $ 297,199.77 INTEREST TO 'B' CERTIFICATE HOLDERS $ 75,628.33 PRINCIPAL TO 'A' CERTIFICATE HOLDERS $4,290,326.99 PRINCIPAL TO 'B' CERTIFICATE HOLDERS $ 424,318.05 SURETY BOND PREMIUM $ 13,554.25 INTEREST ADVANCE RECOVERIES: Payments $ 22,517.73 UNREIMBURSED DRAWS ON CLASS 'A' SURETY BOND FOR CLASS 'I' INTEREST $ 0.00 UNREIMBURSED DRAWS ON CLASS 'A' SURETY BOND FOR CLASS 'A' INT. OR PRI $ 0.00 UNREIMBURSED DRAWS ON CLASS 'B' SURETY BOND FOR CLASS 'B' INT. OR PRI $ 0.00 DEPOSIT TO PAYAHEAD $ 47,365.77 CIA INTEREST TO SERVICER (TO HIT 7/07/96) $ 16,485.52 PAYAHEAD ACCOUNT INTEREST TO SERVICER (TO HIT 7/07/96) $ 641.09 EXCESS YIELD (TO HIT 7/07/96) $ 487,644.83 BALANCE $ (0.00)
SPREAD ACCOUNT AND SURETY "A" AND "B" RECONCILIATION
SPREAD ACCOUNT "A" SURETY BOND "B" SURETY BOND ORIGINAL BALANCE $ 0.00 $14,388,498.39 $18,499,497.94 BEGINNING BALANCE $2,664,289.31 $11,870,489.82 $15,062,903.68 TRUSTEE DISTRIBUTION OF EXCESS YIELD (6/07/96) $ 171,854.69 -- -- INTEREST EARNED (6/30/96) $ 12,045.80 $ 0.00 $ 0.00 DRAWS $ 0.00 $ 0.00 $ 0.00 REIMBURSEMENT FOR PRIOR DRAWS $ 0.00 $ 0.00 $ 0.00 DISTRIBUTION OF FUNDS TO SERVICER ( 6/07/96) $ 0.00 -- -- ENDING BALANCE $2,848,189.80 $11,870,489.82 $15,062,903.68 ADJUSTED END BAL BASED UPON REQ. BAL $11,450,857.08 $14,638,585.63 REQUIRED BALANCE $8,368,279.82 $11,450,857.08 $14,638,585.63 DISTRIBUTION OF FUNDS TO SERVICER (7/07/96) $ 0.00 MONTHLY SERVICING FEE AND THE SPREAD AMOUNT $ 907,467.36 SERVICING FEE (RETAINED FROM INTEREST COLLECTIONS) $ 139,471.33
EX-99.2 5 SERVICER'S CERTIFICATE REPORT UACSC 95-D UNION ACCEPTANCE CORPORATION (Servicer) YEAR ENDING 6/30/96
PRINCIPAL BALANCE RECONCILIATION D O L L A R S NUMBERS 'A' PIECE 'B' PIECE TOTAL OF A+B ORIGINAL PRINCIPAL BALANCE $187,050,479.13 $18,499,497.94 $205,549,977.07 15,213 BEGINNING PERIOD PRINCIPAL BALANCE $187,050,479.13 $18,499,497.94 $205,549,977.07 15,213 COLLECTIONS (REGULAR PAYMENTS) $ 16,062,165.72 $ 1,588,565.84 $ 17,650,731.56 -- COLLECTIONS (PRINCIPAL - PAYOFFS) $ 20,523,857.71 $ 2,029,832.08 $ 22,553,689.79 1,893 WITHDRAWAL FROM PAYAHEAD (PRINCIPAL) $ 40,075.66 $ 3,963.53 $ 44,039.19 -- GROSS CHARGE OFFS $ 2,274,783.98 $ 224,978.63 $ 2,499,762.61 167 REPURCHASES $ 137,230.29 $ 13,572.23 $ 150,802.52 28 ENDING BALANCE $148,012,365.77 $14,638,585.63 $162,650,951.40 13,125 CERTIFICATE FACTOR 0.7912964 0.7912964 PASS THROUGH RATE 5.965% 6.025% CASH FLOW RECONCILIATION PRINCIPAL WIRED $40,424,770.95 INTEREST WIRED $13,914,493.23 WITHDRAWAL FROM PAYAHEAD ACCOUNT $ 56,918.12 REPURCHASES $ 159,671.74 GROSS CHARGE OFF RECOVERIES $ 1,060,588.26 GROSS INTEREST ADVANCES $ 314,286.93 CIA INTEREST EARNED $ 131,805.08 SPREAD ACCOUNT WITHDRAWAL $ 0.00 "A" SURETY BOND DRAW FOR "I" INTEREST $ 0.00 "A" SURETY BOND DRAW FOR "A" PRINCIPAL OR INTEREST $ 0.00 "B" SURETY BOND DRAW FOR "B" PRINCIPAL OR INTEREST $ 0.00 TOTAL $56,062,534.31 TRUSTEE DISTRIBUTION TOTAL CASH FLOW $56,062,534.31 UNRECOVERED INTEREST ADVANCES $ 80,611.33 SERVICING FEE (DUE AND UNPAID) $ 0.00 INTEREST TO 'A' CERTIFICATE HOLDERS $ 6,087,844.30 INTEREST TO 'I' CERTIFICATE HOLDERS $ 2,446,005.85 INTEREST TO 'B' CERTIFICATE HOLDERS $ 608,150.77 PRINCIPAL TO 'A' CERTIFICATE HOLDERS $39,038,113.35 PRINCIPAL TO 'B' CERTIFICATE HOLDERS $ 3,860.912.32 SURETY BOND PREMIUM $ 122,082.58 INTEREST ADVANCE RECOVERIES: Payments $ 168,320.18 UNREIMBURSED DRAWS ON CLASS 'A' SURETY BOND FOR CLASS 'I' INTEREST $ 0.00 UNREIMBURSED DRAWS ON CLASS 'A' SURETY BOND FOR CLASS 'A' INT. OR PRI $ 0.00 UNREIMBURSED DRAWS ON CLASS 'B' SURETY BOND FOR CLASS 'B' INT. OR PRI $ 0.00 DEPOSIT TO PAYAHEAD $ 253,791.89 CIA INTEREST TO SERVICER $ 131,805.08 PAYAHEAD ACCOUNT INTEREST TO SERVICER $ 2,520.85 EXCESS YIELD $ 3,262,375.81 BALANCE $ 0.00
SPREAD ACCOUNT AND SURETY "A" AND "B" RECONCILIATION SPREAD ACCOUNT "A" SURETY BOND "B" SURETY BOND ORIGINAL BALANCE $ 0.00 $ 14,388,498.39 $18,499,497.94 BEGINNING BALANCE $ 0.00 $ 10,672,239.77 $14,140,747.54 TRUSTEE DISTRIBUTION OF EXCESS YIELD $2,796,092.81 -- -- INTEREST EARNED $ 52,096.99 $ 0.00 0.00 DRAWS $ 0.00 $ 0.00 0.00 REIMBURSEMENT FOR PRIOR DRAWS $ 0.00 $ 0.00 0.00 DISTRIBUTION OF FUNDS TO SERVICER $ 0.00 -- -- ENDING BALANCE $ 2,848,189.80 $ 10,672,239.77 $14,140,747.54 ADJUSTED END BAL BASED UPON REQ. BAL $ 10,672,239.77 $14,140,747.54 REQUIRED BALANCE $8,368,279.82 $ 10,672,239.77 $14,140,747.54 DISTRIBUTION OF FUNDS TO SERVICER $ 0.00 MONTHLY SERVICING FEE AND THE SPREAD AMOUNT $9,515,069.77 SERVICING FEE (RETAINED FROM INTEREST COLLECTIONS) $1,121,532.06
-----END PRIVACY-ENHANCED MESSAGE-----