-----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, IoScN6JyukDspZpbbSi1AWBfoESlbVdxCNNyOhA3lF5JT+iZa/5QP60DPjydo5zG nhrpQHZCmIUNzgrw6hUxSg== 0001138081-02-000011.txt : 20021031 0001138081-02-000011.hdr.sgml : 20021031 20021031142917 ACCESSION NUMBER: 0001138081-02-000011 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20021015 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20021031 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MMCA AUTO OWNER TRUST 2001 2 CENTRAL INDEX KEY: 0001138081 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-58904-01 FILM NUMBER: 02804765 BUSINESS ADDRESS: STREET 1: PO BOX 6038 CITY: CYPRESS STATE: CA ZIP: 90630-0038 BUSINESS PHONE: 7142361510 MAIL ADDRESS: STREET 1: PO BOX 6038 CITY: CYPRESS STATE: CA ZIP: 90630-0038 8-K 1 form8k.txt FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 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, 2002 MMCA AUTO OWNER TRUST 2001-2 (MMCA Auto Receivables Trust - Originator) ______________________________________________________ (Exact Name of Registrant as Specified in its Charter) Delaware 33-0869011 ____________________________ ________________________ (State or other jurisdiction (Commission File Number) of incorporation) (IRS Employer Id No.) P.O. Box 6038 Cypress, California 90630-0038 (714) 236-1510 _______________________________________________________ (Address of Registrant's principal executive office and Registrant's telephone number, including area code) Item 5. Other Events. The Registrant hereby incorporates by reference the information contained in the attached exhibits in response to this Item 5. Item 7. Financial Statements and Exhibits. (c) Exhibits. MMCA Auto Owner Trust 2001-2 Asset Backed Notes and Asset Backed Certificates. Monthly Servicer's Certificate, dated: October 9, 2002 Monthly Servicing Report, for the following reporting period: September 1, 2002 through September 30, 2002 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. MMCA AUTO RECEIVABLES Trust Dated: October 28, 2002 /s/ Hideyuki Kitamura ________________________ By: Hideyuki Kitamura Executive V.P., Finance & Treasurer EX-1 3 cover.txt SERVICER CERTIFICATE - SEPTEMBER 2002 SERVICER'S CERTIFICATE The undersigned certifies that he is Executive Vice-President, Finance and Treasurer of Mitsubishi Motors Credit of America, Inc., a corporation in good standing under the laws of the state of its incorporation (the "Company"), and that as such he is duly authorized to execute and deliver this certificate on behalf of the company pursuant to Section 3.9 of the Sale and Servicing Agreement, dated as of June 1, 2001, by and among the Company, as Servicer, MMCA Auto Receivables Trust, as Seller, and MMCA Auto Owner Trust 2001-2, as Issuer (the "Sale and Servicing Agreement") (all capitalized terms used herein without definition have the respective meanings specified in the Sale and Servicing Agreement), and further certifies that: (a) The Servicer's report for the period from September 1, 2002 through September 30, 2002 attached to this certificate is complete and accurate and contains all information required by Section 3.9 of the Sale and Servicing Agreement, and (b) As of the date hereof, no Event of servicing Termination or event that with notice or lapse of time or both would become an Event of Servicing Termination has occurred. IN WITNESS WHEREOF, I have affixed hereunto my signature this Ninth day of October 2002. MITSUBISHI MOTORS CREDIT OF AMERICA, INC. /s/ Hideyuki Kitamura By: _______________________________ Hideyuki Kitamura Executive V.P., Finance & Treasurer EX-2 4 financial.txt SERVICER REPORT - SEPTEMBER 2002 MITSUBISHI MOTORS CREDIT OF AMERICA, INC. Monthly Servicing Report -- MMCA Auto Owner Trust 2001-2 September 1, 2002 through September 30, 2002 I. ORIGINAL TRANSACTION PARAMETERS A. Initial Receivables 778,534,166.28 B. Level Pay Pool Balance of the Initial Rec 695,687,407.45 C. Last Scheduled Pmt Pool Bal of the Initial Rec 82,846,758.83 D. Notes 1. Class A-1 a. Initial Balance 146,169,000.00 b. Note Interest Rate 3.89750% c. Noteholders' Final Sched Pmt Date 15-Jul-02 2. Class A-2 a. Initial Balance 94,000,000.00 b. Note Interest Rate 1-Month LIBOR + .10% c Noteholders' Final Sched Pmt Date 15-Nov-03 3. Class A-3 a. Initial Balance 229,000,000.00 b. Note Interest Rate 1-Month LIBOR + .18% c. Noteholders' Final Sched Pmt Date 15-Sep-05 4. Class A-4 a. Initial Balance 150,000,000.00 b. Note Interest Rate 1-Month LIBOR + .25% c. Noteholders' Final Sched Pmt Date 15-Jul-06 5. Class B a. Initial Balance 46,797,000.00 b. Note Interest Rate 5.7500% c. Noteholders' Final Sched Pmt Date 15-Jun-07 E. Certificates Initial Balance 53,998,116.60 F. Servicing Fee Rate 1.00% Servicing Fee Rate for Deferred Receivables during Deferral Period 0.25% G. Wtd Avg Coupon (WAC) of the Initial Receivables 6.083% H. Wtd Avg Original Term to Maturity (WAOM) of the Initial Rec 59 months I. Wtd Avg Remaining Term to Maturity (WAM) of the Initial Rec 58 months J. Number of Initial Receivables 35,682 K. Reserve Account 1. Initial Reserve Account Deposit Percentage of Initial Pool 1.00% 2. Reserve Account Deposit on the Closing Date 7,199,641.17 3. Specified Reserve Balance Percentage 2.25% 4. Specified Reserve Balance Amount 16,199,192.62 L. Yield Supplement Account Deposit on the Closing Date 133,108.39 M. Yield Supplement Over Collateralization Balance on Closing Date 58,570,049.68 N. Adjusted Principal Balance of Initial Receivables 719,964,116.60 II. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORT A. Total Pool Balance 541,630,700.40 B. Level Payment Pool Balance 469,219,151.51 C. Last Scheduled Payment Pool Balance 72,411,548.89 D. Notes 1. Class A-1 a. Prior Month Note Balance 0.00 b. Interest Carryover Shortfall 0.00 c. Principal Carryover Shortfall 0.00 2. Class A-2 a. Prior Month Note Balance 35,668,746.19 b. Interest Carryover Shortfall 0.00 c. Principal Carryover Shortfall 0.00 3. Class A-3 a. Prior Month Note Balance 229,000,000.00 b. Interest Carryover Shortfall 0.00 c. Principal Carryover Shortfall 0.00 4. Class A-4 a. Prior Month Note Balance 150,000,000.00 b. Interest Carryover Shortfall 0.00 c. Principal Carryover Shortfall 0.00 5. Class B a. Prior Month Note Balance 41,025,905.53 b. Interest Carryover Shortfall 0.00 c. Principal Carryover Shortfall 0.00 E. Certificates Balance 53,998,116.60 F. Reserve Account Balance 35,129,344.62 G. Yield Supplement Account Balance 0.00 H. Payahead Account Balance 51,028.90 I. Yield Supplement Over Collatralization Balance 31,937,932.08 J. Deferred Receivables 0.00 K. Cumulative Losses for All Prior Periods 22,697,919.25 L. Weighted Average Coupon (WAC) 5.936% M. Weighted Average Remaining Term to Maturity (WAM) 43.73 N. Number of Contracts 30,956 O. Total Subsequent Receivables Sold as of Related Cutoff Dates 1. Level Pay Balance 0.00 2. Last Scheduled Payment Balance 0.00 3. Total 0.00 III. INPUTS FROM THE INVESTOR REPORTING SYSTEM A. Precomputed Contracts Level Payment Principal 1. Scheduled Principal Reduction 164,628.64 2. Prepayments in Full 54,596.63 3. Repurchased Receivables Principal 0.00 4. Repurchased Receivables Interest 0.00 B. Total Collections for Precomputed Contracts 287,606.47 C. Precomputed Contracts - Principal on Last Scheduled Payments 1. Collected Principal 11,450.23 2. Repurchased Receivables Principal 0.00 3. Repurchased Receivables Interest 0.00 4. Last Scheduled Payment Principal Paid in Full Prior to Month of Maturity 8,104.69 5. Last Scheduled Payment Principal Due on Loans Matured This Month 0.00 D. Simple Interest Contracts - Level Payment 1. Principal Reduction 13,288,404.53 2. Collected Principal 13,286,377.41 3. Collected Interest 2,564,884.81 4. Repurchased Receivables Principal 0.00 5. Repurchased Receivables Interest 0.00 E. Simple Interest Contracts - Principal on Last Scheduled Payments 1. Collected Principal 406,721.51 2. Repurchased Receivables Principal 0.00 3. Repurchased Receivables Interest 0.00 4. Last Scheduled Payment Principal Collected Prior to Month of Maturity 406,721.51 5. Last Scheduled Payment Principal Due on Loans Matured This Month 0.00 F. Yield Supplement Information 1. Yield Supplement Amount 0.00 2. Specified Yield Supplement Account Balance 0.00 G. Yield Supplement Over Collateralization 30,222,432.56 H. Advances 1. Actuarial Advances a. Beginning Actuarial Advances (or payments due prior to Cutoff Date) 118,548.32 b. Current Month Actuarial Advances 27,362.30 c. Reimbursement of Actuarial Advances (or payments due prior to Cutoff Date) 36,035.89 d. Ending Actuarial Advances (or payments due prior to Cutoff Date) 109,874.73 2. Precomputed Loans - Last Scheduled Payment Advances a. Beginning Last Scheduled Payment Advances 0.00 b. Current Month Last Scheduled Payment Advances 0.00 c. Reimbursement of Last Scheduled Payment Advances 0.00 d. Ending Last Scheduled Payment Advances 0.00 3. Simple Interest Loans - Last Scheduled Payment Advances a. Beginning Last Scheduled Payment Advances 0.00 b. Current Month Last Scheduled Payment Advance 0.00 c. Reimbursement of Last Scheduled Payment Advances 0.00 d. Ending Last Scheduled Payment Advances 0.00 4. Net Servicer Advances (8,673.59) I. Payahead Account Activity 1. Net Increase/(Decrease) in Payahead Account Balance 4,106.05 2. Payahead Balance of Loans Defaulted this Period 0.00 3. Deposit to Payahead Account for Subsequent Receivables Sold This Period 0.00 4. Ending Payahead Balance 55,134.95 J. Rule of 78s Payment 0.00 K. Weighted Average Coupon of Remaining Portfolio (WAC) 5.932% L. Weighted Average Remaining Maturity (WAM) 42.78 M. Remaining Number of Receivables 30,516 N. Delinquent Contracts Contracts Amount 1. 30-59 Days Delinquent 1267 4.15% 23,127,488.12 4.40% 2. 60-89 Days Delinquent 294 0.96% 5,620,947.95 1.07% 3. 90 Days or more Delinquent 279 0.91% 5,379,257.34 1.02% Net Loss and Defaulted Receivables Information O. 1. Vehicles Repossessed During Month 124 1,816,283.70 2. Loans Defaulted During the Month 147 3. Level Payment Principal Balance of Defaulted Receivables 2,070,228.10 4. Last Scheduled Payment Principal Balance of Defaulted Receivables 597,744.40 5. Level Payment Liquidation Proceeds 607,822.13 6. Last Scheduled Payment Liquidation Proceeds 7,718.48 7. Recoveries of Level Payment and Last Scheduled Payment on Previously Defaulted Receivables 593,301.76 P. Pool Balances 1. Total Pool Balance 525,040,271.90 2. Level Pay Pool Balance 453,641,293.61 3. Last Scheduled Payment Pool Balance 71,398,978.29 4. Deferred Receivables 0.00 Q. Principal Balance of Subsequent Receivables Sold This Period As of Subsequent Transfer Date 1. Level Pay Balance 0.00 2. Last Scheduled Payment Balance 0.00 3. Total Principal Balance 0.00 IV. INPUTS DERIVED FROM OTHER SOURCES A. Reserve Account Investment Income 38,378.81 B. Collection Account Investment Income 17,623.19 C. Payahead Account Investment Income 58.70 D. Yield Supplement Account Investment Income 0.00 V. COLLECTIONS A. Level Payments Received (Excluding Repurchases) 1. Total Collections for Precomputed Contracts (Level Payment Only) 287,606.47 2. Collected Principal on Simple Interest Contracts (Level Payment Only) 13,286,377.41 3. Collected Interest on Simple Interest Contracts (Level Payment Only) 2,564,884.81 16,138,868.69 B. Last Scheduled Payment Principal Collections (Excluding Repurchases) 418,171.74 C. Net Change in Payahead Account Balance (4,106.05) D. Net Liquidation Proceeds and Recoveries Received 1,208,842.37 E. Principal and Interest on Purchased or Repurchased Contracts 0.00 F. Exclusion of Rule of 78's Payments 0.00 G. Net Servicer Advances/(Reimbursements) (8,673.59) H. Net Swap Receipt 0.00 I. Yield Supplement Amount 0.00 J. Available Funds 17,753,103.16 VI. DISTRIBUTIONS A. Principal Distribution Amount 1. Total Scheduled Principal 14,874,928.98 2. Principal Carrryover Shortfall 0.00 3. Total Principal Distribution Amount 14,874,928.98 B. Total Required Payment 1. Total Servicing Fee 451,358.92 2. Net Swap Payment 1,031,058.18 3. Accrued Note Interest Due a. Class A-1 0.00 b. Class A-2 55,257.60 c. Class A-3 369,521.84 d. Class A-4 250,503.21 e. Class B 196,582.46 f. Total Accrued Note Interest 871,865.11 3. Principal Distribution Amount Due a. Class A-1 0.00 b. Class A-2 13,535,748.39 c. Class A-3 0.00 d. Class A-4 0.00 e. Class B 1,339,180.59 f. Total Principal Distribution Amount 14,874,928.98 4. Total Required Payment 17,229,211.19 5. Available Funds 17,753,103.16 6. Reserve Account TRP Draw Amount 0.00 7. Total Available Funds 17,229,211.19 C. Current Period Payments 1. Servicing Fee paid 451,358.92 2. Interest Paid a. Class A-1 0.00 b. Class A-2 55,257.60 c. Class A-3 369,521.84 d. Class A-4 250,503.21 e. Class B 196,582.46 f. Total Interest Paid 871,865.11 3. Remaining Available Funds 15,905,987.16 4. Principal Payments a. Class A-1 0.00 b. Class A-2 13,535,748.39 c. Class A-3 0.00 d. Class A-4 0.00 e. Class B 1,339,180.59 f. Total Principal Payments 14,874,928.98 D. Current Period Shortfalls 1. Interest Carryover Shortfall a. Class A-1 0.00 b. Class A-2 0.00 c. Class A-3 0.00 d. Class A-4 0.00 e. Class B 0.00 f. Total Interest Carryover Shortfall 0.00 2. Principal Carryover Shortfall a. Class A-1 0.00 b. Class A-2 0.00 c. Class A-3 0.00 d. Class A-4 0.00 e. Class B 0.00 f. Total Principal Carryover Shortfall 0.00 E. Reserve Account 1. Beginning Reserve Account Balance 35,129,344.62 3. Plus: Reserve Account Investment Income 38,378.81 4. Plus: Additional Deposit 0.00 5. Less: Reserve Account Advance Draw Amount 0.00 6. Less: Reserve Account TRP Draw Amount 0.00 7. Reserve Account Balance before Deposit to Reserve Account 35,167,723.43 8. Specified Reserve Account Balance 35,129,344.62 9. Amount Necessary to Reinstate Reserve Account to Specified Reserve Balance 0.00 10. Funds Available for Deposit to Reserve Account 523,891.97 11. Amount Deposited to Reserve Account 0.00 12. Reserve Account Investment Income Released to Seller 38,378.81 13. Ending Reserve Account Balance 35,129,344.62 F. Excess Funds Deposited to Certificate Distribution Account 523,891.97 G. Total Distributions 17,753,103.16 VII. POOL BALANCES AND PORTFOLIO INFORMATION Beginning End A. Balances and Principal Factors of Period of Period 1. Total Pool Balance 541,630,700.40 525,040,271.90 2. Total Pool Factor 0.6957058 0.6743959 3. Level Pmt Pool Bal 469,219,151.51 453,641,293.61 4. Level Pmt Pool Factor 0.6744684 0.6520763 5. Last Sched Pmt Pool Bal 72,411,548.89 71,398,978.29 6. Note Balance a. Class A-1 0.00 0.00 b. Class A-2 35,668,746.19 22,132,997.80 c. Class A-3 229,000,000.00 229,000,000.00 d. Class A-4 150,000,000.00 150,000,000.00 e. Class B 41,025,905.53 39,686,724.94 e. Total 455,694,651.72 440,819,722.74 7. Pool Factor a. Class A-1 0.0000000 0.0000000 b. Class A-2 0.3794547 0.2354574 c. Class A-3 1.0000000 1.0000000 d. Class A-4 1.0000000 1.0000000 e. Class B 0.8766781 0.8480613 8. Certificate Balance 53,998,116.60 53,998,116.60 9. Certificate Pool Factor 1.0000000 1.0000000 10. Total Note and Certificate Balance 509,692,768.32 494,817,839.34 11. Yield Supplement Over Collatralization 31,937,932.08 30,222,432.56 B. Portfolio Information 1. Wtd Avg Coupon of Portfolio (WAC) 5.936% 5.932% 2. Wtd Avg Remaining Term to Maturity of Portfolio (WAM) 43.73 42.78 3. Remaining Number of Receivables 30,956 30,516 VIII. NET LOSS AND DELINQUENCY ACTIVITY A. Realized Losses for Collection Period 2,052,431.89 B. Realized Losses for Collection Period Less Recoveries 1,459,130.13 C. Cumulative Losses for all Periods 24,157,049.38 D Delinquent and Repossessed Contracts Contracts Amount 1. 30-59 Days Delinquent 1267 4.15% 23,127,488 4.40% 2. 60-89 Days Delinquent 294 0.96% 5,620,948 1.07% 3. 90 Days or more Delinquent 279 0.91% 5,379,257 1.02% 4. Vehicles Repossessed During Collection Period 124 0.40% 1,816,284 IX. AVERAGE LOSS AND DELINQUENCY RATIOS A. Annualized Ratio of Realized Losses to Pool Balance for Each Collection Period 1. Second Preceding Collection Period 3.72% 2. Preceding Collection Period 3.73% 3. Current Collection Period 4.55% 4. Three Month Average 4.00% B. Annualized Net Loss 3.23% C. Ratio of Balance of Contracts Delinquent 60 Days or More to the Pool Balance as of the End of the Collection Period. 1. Second Preceding Collection Period 1.69% 2. Preceding Collection Period 2.09% 3. Current Collection Period 2.03% 4. Three Month Average 1.94% X. RECONCILIATION OF COLLECTION ACCOUNT A. Transfers Into Collection Account 1. Transfer of Daily Collections 17,765,882.80 2. Yield Supplement Amount from MMCA 0.00 3 Net Swap Receipt 0.00 4 Net Servicer Advances (if positive) 0.00 5 Reserve Account Draw for Total Required Payment 0.00 6 Deposit from Payahead Account 0.00 7 Collection Account Investment Income 17,623.19 8 Total Transfers Into Collection Account 17,783,505.99 B. Transfers from Collection Account 1. To Servicer a. Total Servicing Fee 451,358.92 b. Rule of 78's Payment 0.00 c. Net Reimbursement of Servicer Advance or Payments Due Prior to Cutoff Date 8,673.59 d. Less: Total Principal and Interest on Repurchases (Netted from Amounts Due Servicer) 0.00 e. Total To Servicer (Net of Total Repurchases) 460,032.51 2. Total Required Payment Distributed (Net of Total Servicing Fee) 15,746,794.09 3. Deposit to Payahead Account 4,106.05 4. Deposit to Reserve Account 0.00 5. Deposit To Certificate Distribution Account a. Excess Funds 523,891.97 b. Collection Account Investment Income 17,623.19 c. Total to Certificate Distribution Account 541,515.16 6. Total Transfers from Collection Account 17,783,505.99 XI. RECONCILIATION OF RESERVE ACCOUNT A. Beginning Balance of Reserve Account 35,129,344.62 B. Transfers Into Reserve Account 1. Reserve Account Deposit from Available Funds 0.00 2. Reserve Account Investment Income 38,378.81 3. Additional Deposit 0.00 4. Total Transfers Into Reserve Account 38,378.81 C. Total Transfers In and Beginning Balance 35,167,723.43 D. Distributions From Reserve Account 1. Transfer to Servicer for Reserve Account Advance Draw Amount 0.00 2. Transfer to Collection Account for Reserve Account TRP Draw Amount 0.00 3. Reserve Account Investment Income to Seller (MART) 38,378.81 4. Total Transfers From Reserve Account 38,378.81 E. Ending Balance 35,129,344.62 F. Total Distributions and Ending Balance 35,167,723.43 XII. RECONCILIATION OF PAYAHEAD ACCOUNT A. Beginning Balance of Payahead Account 51,028.90 B. Transfers Into Payahead Account 1. Net Payahead Transfer from Collection Account 4,106.05 2. Payahead Account Investment Income 58.70 3. Transfer from Pre-Funding Account for Subsequent Receivables 0.00 4. Total Transfers Into Payahead Account 4,164.75 C. Total Transfers In and Beginning Balance 55,193.65 D. Distributions From Payahead Account 1. Net Payahead Transfer to Collection Account 0.00 2. Transfer Investment Income to Servicer 58.70 3. Total Transfers From Payahead Account 58.70 E. Payahead Account Ending Balance 55,134.95 F. Total Distributions and Ending Balance 55,193.65 XIII. RECONCILIATION OF YIELD SUPPLEMENT ACCOUNT A. Beginning Balance of Yield Supplement Account 0.00 B. Transfers IntoYield Supplement Account 1. Yield Supplement Account Investment Income 0.00 2. Total Transfers Into Yield Supplement Account 0.00 C. Total Transfers and Beginning Balance 0.00 D. Distributions From Yield Supplement Account 1. Yield Supplement Amount to Collection Account (if not paid by MMCA) 0.00 2. Transfer Investment Income to Seller (MART) 0.00 3. Transfer Reduction in Specified Yield Supplement Account Balance to Seller (MART) 0.00 4. Total Transfers From Yield Supplement Account 0.00 E. Specified Yield Supplement Account Ending Balance 0.00 F. Total Distributions and Ending Balance 0.00 XIV. RECONCILIATION OF NOTE PAYMENT ACCOUNT A. Transfers Into Note Payment Account 1. Total Required Payment Distributed (less Total Servicing Fee) from Collection Account 15,746,794.09 2. Total Transfers Into Note Payment Account 15,746,794.09 B. Distributions from Note Payment Account 1. Payments to Noteholders a. Class A-1 0.00 b. Class A-2 13,591,005.99 c. Class A-3 369,521.84 d. Class A-4 250,503.21 e. Class B 1,535,763.05 f. Total Payments to Noteholders 15,746,794.09 2. Ending Balance of Note Payment Account 0.00 C. Total Distributions and Ending Balance 15,746,794.09 XV. RECONCILIATION OF CERTIFICATE DISTRIBUTION ACCOUNT A. Transfers Into Certificate Distribution Account 1. Excess Funds Deposited from Collection Account 523,891.97 2. Collection Account Investment Income 17,623.19 3. Total Transfers into Certificate Distribution Account 541,515.16 B. Distributions from Certificate Distribution Account 1. Payments to Certificateholders 541,515.16 2. Ending Balance 0.00 C. Total Distributions and Ending Balance 541,515.16 XVI. DISTRIBUTION SUMMARY A. Distributions From Collection Account 1. To Note Payment Account 15,746,794.09 2. To Servicer (MMCA) 460,032.51 3. To Payahead Account 4,106.05 4. To Reserve Account 0.00 5 To Certificate Distribution Account 541,515.16 6. Total Distributions From Collection Account 16,752,447.81 B. Distributions From Reserve Account 1. To Collection Account 0.00 2. To Seller (MART) 38,378.81 3. To Servicer (MMCA) 0.00 4. Total Distributions From Reserve Account C. Distributions From Payahead Account 1. To Collection Account 0.00 2. Investment Income to Servicer (MMCA) 58.70 3. Total Distributions From Payahead Account 58.70 D. Distributions From Yield Supplement Account 1. To Collection Account 0.00 2. Investment Income to Seller (MART) 0.00 3. Reduction in Specified Yield Supplement Account Balance to Seller (MART) 0.00 4. Total Distributions From Yield Supplement Account 0.00 E. Total Distributions From All Accounts 16,790,885.32 F. Total Distributions From All Accounts to: 1. Note Payment Account 15,746,794.09 2. Servicer (MMCA) 460,091.21 3. Seller (MART) 38,378.81 4. Collection Account 0.00 5. Certificate Distribution Account 541,515.16 6. Reserve Account 0.00 7. Payahead Account 4,106.05 8. Yield Supplement Account 0.00 9. Total Distributions From All Accounts 16,790,885.32 -----END PRIVACY-ENHANCED MESSAGE-----