EX-20 3 a2059770zex-20.htm EX 20 Prepared by MERRILL CORPORATION
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TOYOTA MOTOR CREDIT CORPORATION
SERVICER'S Report—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of September 17, 2001 for the Collection Period August 1, 2001 through August 31, 2001

 
   Total
   Class A-1
Balance
   Class A-2
Balance
   Class A-3
Balance
   Class A-4
Balance
  
Pool Data—Original Deal Parameters                                
  Securities Balance   $ 1,452,840,000.00   $ 417,840,000.00   $ 500,000,000.00   $ 360,000,000.00   $ 175,000,000.00  
  Receivables Pool Balance   $ 1,497,783,044.00                          
  Principal Factor     1.00000000     1.00000000     1.00000000     1.00000000     1.00000000  
  Rate           4.300 %   4.562 %   5.018 %   5.360 %
  Final Scheduled Payment Date           May 15, 2002     December 15, 2003     March 15, 2005     October 17, 2007  
  Number of Contracts     119,098                          
  Weighted Average Coupon     9.137 %                        
  Weighted Average Remaining Term     45.70 months                          
  Servicing Fee Rate     1.00 %                        

Pool Data—Prior Month
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Securities Balance   $ 1,218,990,984.53   $ 183,990,984.53   $ 500,000,000.00   $ 360,000,000.00   $ 175,000,000.00  
  Receivables Pool Balance   $ 1,263,934,028.53                          
  Securities Pool Factor     0.83904008     0.44033837     1.00000000     1.00000000     1.00000000  
  Number of Contracts     110,508                          
  Weighted Average Coupon     9.178 %                        
  Weighted Average Remaining Term     42.59 months                          
  Precompute and Simple Interest Advances   $ 3,262,163.59                          
  Payahead Account Balance   $ 1,635,893.33                          
  Supplemental Servicing Fee Received   $ 99,740.58                          
  Interest Shortfall   $ 0.00   $ 0.00   $ 0.00   $ 0.00   $ 0.00  
  Principal Shortfall   $ 0.00   $ 0.00   $ 0.00   $ 0.00   $ 0.00  

Pool Data—Current Month
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Securities Balance   $ 1,162,830,336.24   $ 127,830,336.24   $ 500,000,000.00   $ 360,000,000.00   $ 175,000,000.00  
  Receivables Pool Balance   $ 1,207,773,380.24                          
  Securities Pool Factor     0.80038431     0.30593130     1.00000000     1.00000000     1.00000000  
  Number of Contracts     107,503                          
  Weighted Average Coupon     9.190 %                        
  Weighted Average Remaining Term     41.87 months                          
  Precompute and Simple Interest Advances   $ 3,426,830.38                          
  Payahead Account Balance   $ 1,645,988.97                          
  Supplemental Servicing Fee Received   $ 97,099.05                          
  Interest Shortfall   $ 0.00   $ 0.00   $ 0.00   $ 0.00   $ 0.00  
  Principal Shortfall   $ 0.00   $ 0.00   $ 0.00   $ 0.00   $ 0.00  
Reserve Fund        
  Initial Deposit Amount   $ 3,744,458.00  
  Specified Reserve Fund Percentage     0.75 %
  Specified Reserve Fund Amount   $ 9,058,300.35  
  Specified Reserve Fund Percentage (if Condition i or ii met)     5.50 %
  Specified Reserve Fund Amount (if Condition i or ii met)   $ 63,955,668.49  
 
Beginning Balance
 
$
9,479,505.21
 
  Total Withdraw   $ 0.00  
  Amount Available for Deposit to the Reserve Fund   $ 3,572,181.26  
   
 
  Reserve Fund Balance Prior to Release   $ 13,051,686.47  
  Reserve Fund Required Amount   $ 9,058,300.35  
  Reserve Fund Release to Seller   $ 3,993,386.12  
   
 
  Ending Reserve Fund Balance   $ 9,058,300.35  

1

Liquidation of Charge-offs and Repossessions

   Vehicles
   Amount
  
  Liquidated Contracts   75        
   
       
  Gross Principal Balance of Liquidated Receivables       $ 908,271.06  
  Net Liquidation Proceeds Received During the Collection Period       $ (577,556.15 )
  Recoveries on Previously Liquidated Contracts       $ (6,970.44 )
       
 
  Aggregate Credit Losses for the Collection Period       $ 323,744.47  
       
 
  Cumulative Credit Losses for all Periods   141   $ 583,655.23  
   
 
 
  Repossessed in Current Period   73        
   
       
Ratio of Net Credit Losses to the Average Pool Balance
for Each Collection Period:

   Annualized Average
Charge-Off Rate
  
  Second Preceding Collection Period   0.10 %
  First Preceding Collection Period   0.13 %
  Current Collection Period   0.31 %

Condition (i) (Charge-off Rate)
 
 
 
  Three Month Average   0.18 %
  Charge-off Rate Indicator (> 1.25%)   condition not met  

Delinquent and Repossessed Contracts

 
   Percent
   Contracts
   Percent
   Amount
  31-60 Days Delinquent   1.42 % 1,530   1.41 % $ 16,982,602.77
  61-90 Days Delinquent   0.18 % 194   0.20 % $ 2,355,976.01
  Over 90 Days Delinquent   0.12 % 133   0.15 % $ 1,761,901.76
       
     
  Total Delinquencies       1,857       $ 21,100,480.54
       
     
  Repossessed Vehicle Inventory       121*          
*
Included with delinquencies above

Ratio of Number of Contracts Delinquent 60 Days or More to the Outstanding Number of Receivables as of Each Collection Period (Includes Repossessions):      
  Second Preceding Collection Period   0.17 %
  First Preceding Collection Period   0.25 %
  Current Collection Period   0.30 %

Condition (ii) (Delinquency Percentage)
 
 
 
  Three Month Average   0.24 %
  Delinquency Percentage Indicator (> 1.25%)   condition not met  

2


TOYOTA MOTOR CREDIT CORPORATION
SERVICER'S Report—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of September 17 , 2001 for the Collection Period August 1, 2001 through August 31, 2001

 
   Total
   Class A-1
Balance
   Class A-2
Balance
   Class A-3
Balance
   Class A-4
Balance
Collections                              
  Principal Payments Received   $ 55,252,377.23                        
  Interest Payments Received   $ 9,707,764.07                        
  Net Precomputed Payahead Amount   $ (10,095.64 )                      
  Aggregate Net Liquidation Proceeds Received   $ 584,526.59                        
  Principal on Repurchased Contracts   $ 0.00                        
  Interest on Repurchased Contracts   $ 0.00                        
   
                       
  Total Collections   $ 65,534,572.25                        
  Net Simple Interest Advance Amount   $ 150,503.08                        
  Net Precomputed Advance Amount   $ 14,163.71                        
   
                       
  Total Available Amount   $ 65,699,239.04                        

Amounts Due
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Servicing Fee   $ 1,053,278.36                        
  Accrued and Unpaid Interest   $ 4,913,131.13                        
  Principal   $ 56,160,648.29                        
  Reserve Fund   $ 3,572,181.26                        
   
                       
  Total Amount Due   $ 65,699,239.04                        

Actual Distributions
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Servicing Fee   $ 1,053,278.36                        
  Interest   $ 4,913,131.13   $ 725,231.13   $ 1,900,833.33   $ 1,505,400.00   $ 781,666.67
  Principal   $ 56,160,648.29   $ 56,160,648.29   $ 0.00   $ 0.00   $ 0.00
  Reserve Fund   $ 3,572,181.26                        
   
 
 
 
 
  Total Amount Distributed   $ 65,699,239.04   $ 56,885,879.42   $ 1,900,833.33   $ 1,505,400.00   $ 781,666.67
Monthly Information by Type of Loan          

Precomputed Contracts
 
 
 
 
 
  Scheduled Principal Collections       $ 5,419,430.78
  Prepayments in Full   658 contracts   $ 2,961,103.76
  Repurchased Receivables Principal       $ 0.00
  Payments Behind/Ahead on Repurchased Receivables       $ 0.00
  Total Collections       $ 9,538,802.20
  Advances—Reimbursement of Previous Advances       $ 0.00
  Advances—Current Advance Amount       $ 14,163.71
  Payahead Account—Payments Applied       $ 0.00
  Payahead Account—Additional Payaheads       $ 10,095.64
Simple Interest Contracts          
  Collected Principal       $ 27,078,410.58
  Prepayments in Full   2272 contracts   $ 19,793,432.11
  Collected Interest       $ 8,549,496.41
  Repurchased Receivables Principal       $ 0.00
  Repurchased Receivables Interest       $ 0.00
  Advances—Reimbursement of Previous Advances       $ 0.00
  Advances—Current Advance Amount       $ 150,503.08

3


TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of September 17, 2001 for the Collection Period of August 1 through August 31, 2001

 
    
   Class A2
Balance
   Class A3
Balance
   Class A4
Balance
  
Note Rates for September 17, 2001 Payment Date                  
One Month       3.64000 % 3.64000 % 3.64000 %
LIBOR Spread       0.06000 % 0.08000 % 0.10000 %
       
 
 
 
Note Rates:       3.70000 % 3.72000 % 3.74000 %

Number of Days in Interest Period (Days)
 
 
 
33
 
33
 
33
 

Interest Payments
 
 
 
 
 
 
 
 
 
Interest Calculation for Current Interest Period       1,695,833.33   1,227,600.00   599,958.33  
At Certificate Payment Date:                  
  Due to Swap Counterparty (Swap Payments Outgoing)       1,900,833.33   1,505,400.00   781,666.67  
  Paid to Swap Counterparty (Swap Payments Outgoing)       1,900,833.33   1,505,400.00   781,666.67  
  Proration %   0.00 %            
  Interest Due to Noteholders (Swap Payments Incoming)       1,695,833.33   1,227,600.00   599,958.33  
  Interest Payment to Noteholders (Swap Payments Incoming)       1,695,833.33   1,227,600.00   599,958.33  
  Net Swap Payment due to / (received by) Swap Counterparty       (205,000.00 ) (277,800.00 ) (181,708.34 )

Principal Payments
 
 
 
 
 
 
 
 
 
Principal Payment due to Investors       —   —   —  
Ending Notional Balance       500,000,000.00   360,000,000.00   175,000,000.00  

Swap Termination Payment
 
 
 
N/A
 
N/A
 
N/A
 

Note Rates for October 15, 2001 Payment Date
 
 
 
 
 
 
 
 
 
One Month LIBOR       3.48750 % 3.48750 % 3.48750 %
Spread       0.06000 % 0.08000 % 0.10000 %
       
 
 
 
Note Rates:       3.54750 % 3.56750 % 3.58750 %

Number of Days in Interest Period (Days)
 
 
 
29
 
29
 
29
 

    I hereby certify to the best of my knowledge that the report provided is true and correct.

/s/ Angela Brown
Angela Brown, ABS Accounting Manager		    

4



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TOYOTA MOTOR CREDIT CORPORATION SERVICER'S Report—Toyota Auto Receivables 2001-B Owner Trust Distribution Date of September 17, 2001 for the Collection Period August 1, 2001 through August 31, 2001
TOYOTA MOTOR CREDIT CORPORATION SERVICER'S Report—Toyota Auto Receivables 2001-B Owner Trust Distribution Date of September 17 , 2001 for the Collection Period August 1, 2001 through August 31, 2001
TOYOTA MOTOR CREDIT CORPORATION Servicer's Certificate—Toyota Auto Receivables 2001-B Owner Trust Distribution Date of September 17, 2001 for the Collection Period of August 1 through August 31, 2001