-----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, Bxro3/ARU7z0a9iHJUzTJBRyHy2pzKk+/uD60uD0WJ2GZ9JEdED+GPoHAyl1lOUl 8VU9vZPjm1XZs1yl4pPHEQ== 0000070858-99-000363.txt : 19991029 0000070858-99-000363.hdr.sgml : 19991029 ACCESSION NUMBER: 0000070858-99-000363 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991015 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19991028 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BOATMENS AUTO TRUST 1996-A CENTRAL INDEX KEY: 0001036502 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 436752540 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 033-95450-02 FILM NUMBER: 99735902 BUSINESS ADDRESS: STREET 1: INTERSTATE TOWERS STREET 2: NC1 005 14 02 121 WEST TRADE STREET CITY: CHARLOTTE STATE: NC ZIP: 28255 BUSINESS PHONE: 7043865000 MAIL ADDRESS: STREET 1: TRANSAMERICA SQUARE STREET 2: 401 NORTH TRYON STREET CITY: CHARLOTTE STATE: NC ZIP: 28255 8-K 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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): OCTOBER 15, 1999 BOATMEN'S AUTO TRUST 1996-A --------------------------- (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) UNITED STATES OF AMERICA 33-95450 43-6752540 ----------- -------- ---------- (STATE OR OTHER (COMMISSION FILE (IRS EMPLOYER JURISDICTION OF NUMBER) IDENTIFICATION NO.) INCORPORATION BOATMEN'S AUTO TRUST 1996-A INTERSTATE TOWERS NC1-005-14-02 121 WEST TRADE STREET CHARLOTTE, NORTH CAROLINA 28255 (704) 386-5000 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) ---------------------------------------- REGISTRANT'S TELEPHONE NUMBER INCLUDING AREA CODE: (704) 386-5000 ITEM 5. OTHER EVENTS ------------- THE REGISTRANT HEREBY INCORPORATES BY REFERENCE THE INFORMATION CONTAINED IN EXHIBIT 99 HERETO IN RESPONSE TO THIS ITEM 5. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS AND -------------------------------------------------------------- EXHIBITS -------- (C) EXHIBITS 99 MONTHLY SERVICING REPORT FOR NATIONSBANK, N.A., BOATMEN'S AUTO TRUST 1996-A SIGNATURES PURSUANT TO THE REQUIREMENTS OF THE SECURITIES AND EXCHANGE ACT OF 1934, THE REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE UNDERSIGNED HEREUNTO DULY AUTHORIZED. BOATMEN'S AUTO TRUST 1996-A ----------------------------- (REGISTRANT) DATED: OCTOBER 20, 1999 BY: /S/JILL STEWART ------------------ ---------------- NAME: JILL STEWART TITLE: SENIOR VICE PRESIDENT NATIONSBANK, N.A. (DULY AUTHORIZED OFFICER) INDEX TO EXHIBITS EXHIBIT NUMBER EXHIBIT - ------ ------- 99 MONTHLY SERVICING REPORT FOR NATIONSBANK,N.A., BOATMEN'S AUTO TRUST 1996-A EX-99 2
NATIONSBANK, N.A. EXHIBIT 99 MONTHLY SERVICING REPORT - BOATMENS AUTO TRUST 1996-A September 1, 1999 THROUGH September 30, 1999 A. ORIGINAL DEAL PARAMETER INPUTS - --------------------------------- (A) Total Portfolio Balance. . . . . . . . . . . . . . . . . . . . . . . . . . . $290,623,554.00 (B) Class A-1 Notes (i) Class A-1 Notes Percentage . . . . . . . . . . . . . . . . . . . . . . 28.44% (ii) Class A-1 Notes Balance. . . . . . . . . . . . . . . . . . . . . . . . $ 82,654,904.00 (iii) Class A-1 Notes Rate . . . . . . . . . . . . . . . . . . . . . . . . . 5.7525% (C) Class A-2 Notes (i) Class A-2 Notes Percentage . . . . . . . . . . . . . . . . . . . . . . 41.29% (ii) Class A-2 Notes Balance. . . . . . . . . . . . . . . . . . . . . . . . $120,000,000.00 (iii) Class A-2 Notes Rate . . . . . . . . . . . . . . . . . . . . . . . . . 6.35% (D) Class A-3 Notes (i) Class A-3 Notes Percentage . . . . . . . . . . . . . . . . . . . . . . 26.27% (ii) Class A-3 Notes Balance. . . . . . . . . . . . . . . . . . . . . . . . $ 76,343,707.00 (iii) Class A-3 Notes Rate . . . . . . . . . . . . . . . . . . . . . . . . . 6.75% (E) Class B Certificates (i) Class B Certificates Percentage. . . . . . . . . . . . . . . . . . . . 4.00% (ii) Class B Certificates Balance . . . . . . . . . . . . . . . . . . . . . $ 11,624,943.00 (iii) Class B Certificates Rate. . . . . . . . . . . . . . . . . . . . . . . 7.05% (F) Servicing Fee Rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.00% (G) Weighted Average Coupon (WAC). . . . . . . . . . . . . . . . . . . . . . . . 9.53% (H) Weighted Average Original Maturity (WAOM). . . . . . . . . . . . . . . . . . 56.22 months (I) Weighted Average Remaining Maturity (WAM). . . . . . . . . . . . . . . . . . 49.45 months (J) Number of Receivables. . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,919 (K) Reserve Account (i) Reserve Account Initial Deposit Percentage . . . . . . . . . . . . . . 2.00% (ii) Reserve Account Initial Deposit. . . . . . . . . . . . . . . . . . . . $ 5,812,471.09 (iii) Specified Reserve Account Balance (K(iii)(c) if 1.25% loss and delinq triggers hit - otherwise greater of K(iii)(a or b)) (a) Percent of Initial Pool Balance. . . . . . . . . . . . . . . . . . 2.00% (b) Percent of Remaining Pool Balance. . . . . . . . . . . . . . . . . 3.25% (c) Trigger Percent of Remaining Pool Balance. . . . . . . . . . . . . 6.00% B. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS - ------------------------------------------------ (A) Total Portfolio Balance. . . . . . . . . . . . . . . . . . . . . . . . . . . $ 29,497,044.63 (B) Total Note and Certificate Pool Factor . . . . . . . . . . . . . . . . . . . 0.1014957 (C) Class A-1 Notes (i) Class A-1 Notes Balance . . . . . . . . . . . . . . . . . . . . . . . . $ 0.00 (ii) Class A-1 Notes Pool Factor . . . . . . . . . . . . . . . . . . . . . . 0.0000000 (D) Class A-2 Notes (i) Class A-2 Notes Balance . . . . . . . . . . . . . . . . . . . . . . . . $ 0.00 (ii) Class A-2 Notes Pool Factor . . . . . . . . . . . . . . . . . . . . . . 0.0000000 (E) Class A-3 Notes (i) Class A-3 Notes Balance . . . . . . . . . . . . . . . . . . . . . . . . $ 17,872,101.63 (ii) Class A-3 Notes Pool Factor . . . . . . . . . . . . . . . . . . . . . . 0.2341005 (F) Class B Certificates (i) Class B Certificates Balance. . . . . . . . . . . . . . . . . . . . . . $ 11,624,943.00 (ii) Class B Certificates Pool Factor. . . . . . . . . . . . . . . . . . . . 1.0000000 (G) Reserve Account Balance. . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5,812,471.08 (H) Cumulative Net Losses for All Prior Periods. . . . . . . . . . . . . . . . . $ 5,803,525.41 (I) Net Loss Ratio for Second Preceding Period . . . . . . . . . . . . . . . . . 1.76% (J) Net Loss Ratio for Preceding Period. . . . . . . . . . . . . . . . . . . . . 1.36% (K) Delinquency Ratio for Second Preceding Period. . . . . . . . . . . . . . . . 3.74% (L) Delinquency Ratio for Preceding Period . . . . . . . . . . . . . . . . . . . 2.94% (M) Weighted Average Coupon (WAC). . . . . . . . . . . . . . . . . . . . . . . . 9.48% (N) Weighted Average Remaining Maturity (WAM). . . . . . . . . . . . . . . . . . 17.58 months (O) Number of Receivables. . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,910 C. INPUTS FROM THE MAINFRAME - ---------------------------- (A) Simple Interest Receivables Principal (i) Principal Collections. . . . . . . . . . . . . . . . . . . . . . . . . $ 2,688,271.24 (ii) Not Used . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 (iii) Repurchased Loan Proceeds Related to Principal . . . . . . . . . . . . 0.00 (iv) Other Refunds Related to Principal. . . . . . . . . . . . . . . . . . . 0.00 (B) Simple Interest Receivables Interest (i) Interest Collections . . . . . . . . . . . . . . . . . . . . . . . . . 236,403.99 (ii) Repurchased Loan Proceeds Related to Interest (C) Weighted Average Coupon (WAC). . . . . . . . . . . . . . . . . . . . . . . . 9.48% (D) Weighted Average Remaining Maturity (WAM). . . . . . . . . . . . . . . . . . 16.85 months (E) Remaining Number of Receivables. . . . . . . . . . . . . . . . . . . . . . . 6,555 (F) Delinquent Receivables
Dollar Amount # Units ------------- ------- (i) 30-59 Days Delinquent 1,664,178 6.22% 316 4.82% (ii) 60-89 Days Delinquent 760,877 2.85% 115 1.75% (iii) 90 Days or More Delinquent 311,405 1.16% 59 0.90% (G) Repossessions Dollar Amount # Units ------------- ------- 91,973 0.34% 18 0.27%
D. INPUTS DERIVED FROM OTHER SOURCES - ----------------------------------------- (A) Reserve Account Investment Income. . . . . . . . . . . . . . . . . . $ 22,115.56 (B) Aggregate Net Losses before Liquidation Proceeds and Recoveries for Collection Period (see note). . . . . . . . . . . . . . . . . . . 66,491.61 (C) Liquidated Receivables Information (i) Not Used . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 (ii) Not Used . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 (iii) Recoveries on Previously Liquidated Contracts. . . . . . . . . 34,322.80 (D) Aggregate Net Losses for Collection Period . . . . . . . . . . . . . 32,168.81 (E) Actual Number of Days in Interest Period . . . . . . . . . . . . . . 29 I. COLLECTIONS - -------------- Interest: (A) Interest Collections . . . . . . . . . . . . . . . . . . . . . . . . $ 236,403.99 (B) Not Used . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 (C) Repurchased Loan Proceeds Related to Interest. . . . . . . . . . . . 0.00 (D) Recoveries from Prior Month Charge Offs. . . . . . . . . . . . . . . 34,322.80 (E) Investment Earnings from the Reserve Account . . . . . . . . . . . . 22,115.56 (F) Total Interest Collections . . . . . . . . . . . . . . . . . . . . . 292,842.35 Principal: (G) Principal Payments Received. . . . . . . . . . . . . . . . . . . . . $2,688,271.24 (H) Not Used . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 (I) Repurchased Loan Proceeds Related to Principal . . . . . . . . . . . 0.00 (J) Other Refunds Related to Principal . . . . . . . . . . . . . . . . . 0.00 (K) Total Principal Collections. . . . . . . . . . . . . . . . . . . . . 2,688,271.24 (L) Total Collections. . . . . . . . . . . . . . . . . . . . . . . . . . $2,981,113.59
II. DISTRIBUTIONS Per $1,000 of - ----------------- Original Balance ---------------- (A) Total Interest Collections. . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 292,842.35 (B) Servicing Fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 24,580.87 0.08 Interest Per $1,000 of (C) Class A-1 Notes Monthly Interest Original Balance ---------------- (i) Class A-1 Notes Monthly Interest Due. . . . . . . . . . . . . . . . . . . . $ 0.00 0 (ii) Class A-1 Notes Monthly Interest Paid (after reserve fund draw) . . . . . . 0.00 0 ------------- (iii) Class A-1 Notes Monthly Interest Shortfall (after reserve fund draw) . . . $ 0.00 0 (D) Class A-2 Notes Monthly Interest (i) Class A-2 Notes Monthly Interest Due. . . . . . . . . . . . . . . . . . . . $ 0.00 0 (ii) Class A-2 Notes Monthly Interest Paid (after reserve fund draw) . . . . . . 0.00 0 ------------- (iii) Class A-2 Notes Monthly Interest Shortfall (after reserve fund draw) . . . $ 0.00 0 (E) Class A-3 Notes Monthly Interest (i) Class A-3 Notes Monthly Interest Due. . . . . . . . . . . . . . . . . . . . $ 100,530.57 1.316815434 (ii) Class A-3 Notes Monthly Interest Paid (after reserve fund draw) . . . . . . 100,530.57 1.316815434 ------------- (iii) Class A-3 Notes Monthly Interest Shortfall (after reserve fund draw) . . . $ 0.00 0 (F) Class B Certificates Monthly Interest (i) Class B Certificates Monthly Interest Due . . . . . . . . . . . . . . . . . $ 68,296.54 5.875 (ii) Class B Certificates Monthly Interest Paid (after reserve fund draw). . . . 68,296.54 5.875 ------------- (iii) Class B Certificates Monthly Interest Shortfall (after reserve fund draw). $ 0.00 0 (G) Total Note and Certificate Interest Paid (after reserve fund draw). . . . . . . . $ 168,827.11 (H) Excess Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 99,434.37 Principal (I) Total Principal Collections . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,688,271.24 (J) Draw on Reserve Fund for realized losses. . . . . . . . . . . . . . . . . . . . . 66,491.61 (K) Total Amount Available for Principal Distribution . . . . . . . . . . . . . . . . $2,754,762.85 Per $1,000 of (L) Class A-1 Notes Monthly Principal Original Balance ---------------- (i) Class A-1 Notes Monthly Principal Due . . . . . . . . . . . . . . . . . . . 0.00 0 (ii) Class A-1 Notes Monthly Principal Paid (after reserve fund draw). . . . . . 0.00 0 ------------- (iii) Class A-1 Notes Monthly Principal Shortfall (after reserve fund draw). . . 0.00 0 (M) Class A-2 Notes Monthly Principal (i) Class A-2 Notes Monthly Principal Due . . . . . . . . . . . . . . . . . . . 0.00 0 (ii) Class A-2 Notes Monthly Principal Paid (after reserve fund draw). . . . . . 0.00 0 ------------- (iii) Class A-2 Notes Monthly Principal Shortfall (after reserve fund draw). . . 0.00 0 (N) Class A-3 Notes Monthly Principal (i) Class A-3 Notes Monthly Principal Due . . . . . . . . . . . . . . . . . . . 2,754,762.85 36.08369253 (ii) Class A-3 Notes Monthly Principal Paid (after reserve fund draw). . . . . . 2,754,762.85 36.08369253 ------------- (iii) Class A-3 Notes Monthly Principal Shortfall (after reserve fund draw). . . 0.00 0 (O) Class B Certificates Monthly Principal (i) Class B Certificates Monthly Principal Due. . . . . . . . . . . . . . . . . 0.00 0 (ii) Class B Certificates Monthly Principal Paid (after reserve fund draw) . . . 0.00 0 ------------- (iii) Class B Certificates Monthly Principal Shortfall (after reserve fund draw) 0.00 0 (P) Total Note and Certificate Principal Paid . . . . . . . . . . . . . . . . . . . . 2,754,762.85 (Q) Total Distributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,948,170.83 (R) Excess Servicing Releases from Reserve Account to Servicer. . . . . . . . . . . . 32,942.76 (S) Amount of Draw from Reserve Account . . . . . . . . . . . . . . . . . . . . . . . 66,491.61 (T) Draw from Reserve Account plus Total Available Amount . . . . . . . . . . . . . . 3,047,605.20
III. POOL BALANCES AND PORTFOLIO INFORMATION - ------------------------------------------------- Beginning End of Period of Period --------- --------- (A) Balances and Principal Factors (i) Total Portfolio Balance $29,497,044.63 $26,742,281.78 (ii) Total Note and Certificate Pool Factor 0.1014957 0.0920169 (iii) Class A-1 Notes Balance 0.00 0.00 (iv) Class A-1 Notes Pool Factor 0.0000000 0.0000000 (v) Class A-2 Notes Balance 0.00 0.00 (vi) Class A-2 Notes Pool Factor 0.0000000 0.0000000 (vii) Class A-3 Notes Balance 17,872,101.63 15,117,338.78 (viii) Class A-3 Notes Pool Factor 0.2341005 0.1980168 (ix) Class B Certificates Balance 11,624,943.00 11,624,943.00 (x) Class B Certificate Pool Factor 1.0000000 1.0000000 (B) Portfolio Information (i) Weighted Average Coupon (WAC) 9.48% 9.48% (ii) Weighted Average Remaining Maturity (WAM) 17.58 months 16.85 months (iii) Remaining Number of Receivables 6,910 6,555 (iv) Portfolio Receivable Balance $29,497,044.63 $26,742,281.78
IV. RECONCILIATION OF RESERVE ACCOUNT - ----------------------------------------- (A) Beginning Reserve Account Balance. . . . . . . . . . . . . . . . . . $5,812,471.08 (B) Draw for Realized losses . . . . . . . . . . . . . . . . . . . . . . 66,491.61 (C) Draw for Servicing Fee . . . . . . . . . . . . . . . . . . . . . . . 0.00 (D) Draw for Class A-1 Notes Interest Amount . . . . . . . . . . . . . . 0.00 (E) Draw for Class A-2 Notes Interest Amount . . . . . . . . . . . . . . 0.00 (F) Draw for Class A-3 Notes Interest Amount . . . . . . . . . . . . . . 0.00 (G) Draw for Class B Certificates Interest Amount. . . . . . . . . . . . 0.00 (H) Total Draw for Losses, Servicing, Notes and Certificates . . . . . . 66,491.61 (I) Excess Interest. . . . . . . . . . . . . . . . . . . . . . . . . . . 99,434.37 (J) Reserve Account Balance Prior to Release . . . . . . . . . . . . . . 5,845,413.84 (K) Reserve Account Required Amount. . . . . . . . . . . . . . . . . . . 5,812,471.08 (L) Final Reserve Account Required Amount. . . . . . . . . . . . . . . . 5,812,471.08 (M) Reserve Account Release to Servicer. . . . . . . . . . . . . . . . . 32,942.76 (N) Ending Reserve Account Balance . . . . . . . . . . . . . . . . . . . 5,812,471.08 V. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY - -------------------------------------------- (A) Aggregate Net Losses before Liquidation Proceeds and Recoveries for Collection Period. . . . . . . . . . . . . . . . . . . . . . . . $ 66,491.61 (B) Liquidated Contracts (i) Not Used . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 (ii) Not Used . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 (iii) Recoveries on Previously Liquidated Contracts. . . . . . . . . 34,322.80 (C) Aggregate Net Losses for Collection Period . . . . . . . . . . . . . 32,168.81 (D) Net Loss Ratio for Collection Period (annualized). . . . . . . . . . 1.37% (E) Cumulative Net Losses for all Periods. . . . . . . . . . . . . . . . 5,835,694.22 (F) Delinquent Receivables
Dollar Amount # Units ------------- ------- (i) 30-59 Days Delinquent 1,664,178 6.22% 316 4.82% (ii) 60-89 Days Delinquent 760,877 2.85% 115 1.75% (iii) 90 Days or More Delinquent 311,405 1.16% 59 0.90% (G) Repossessions Dollar Amount # Units ------------- ------- 91,973 0.34% 18 0.27%
VI. TESTS FOR INCREASE IN SPECIFIED RESERVE ACCOUNT BALANCE - ------------------------------------------------------------------- (A) Ratio of Net Losses to the Average Pool Balance (i) Second Preceding Collection Period . . . . . . . . . . . . . 1.76% (ii) Preceding Collection Period . . . . . . . . . . . . . . . . 1.36% (iii) Current Collection Period. . . . . . . . . . . . . . . . . 1.37% (iv) Three Month Average (Avg(i,ii,iii)) . . . . . . . . . . . . 1.50% (B) Ratio of Balance of Contracts Delinquent 60 Days or More to the Outstanding Balance of Receivables. (i) Second Preceding Collection Period . . . . . . . . . . . . . 3.74% (ii) Preceding Collection Period . . . . . . . . . . . . . . . . 2.94% (iii) Current Collection Period. . . . . . . . . . . . . . . . . 4.01% (iv) Three Month Average (Avg(i,ii,iii)) . . . . . . . . . . . . 3.56% (C) Loss and Delinquency Trigger Indicator . . . . . . . . . . . . . Trigger was hit The undersigned officers of NationsBank, N.A., as servicer, pursuant to the Sale and Servicing Agreement hereby certify to the best of their knowledge and belief that the above information is true and correct. /s/ Bill Ward /s/ Jill Stewart - --------------- ------------------ Bill Ward Jill Stewart Vice President Vice President
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