-----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, V6iboLSAzD8EbfGbaYn8NnNTxX+u4gfZZkqesJv6H9STwBl3ZOrUbj2FZEL8EotZ N4fgrrEvzp2n7vfzRBRckQ== 0000892569-03-001916.txt : 20030812 0000892569-03-001916.hdr.sgml : 20030812 20030812060136 ACCESSION NUMBER: 0000892569-03-001916 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030812 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030812 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TRIAD AUTOMOBILE RECEIVABLES TRUST 2002 A CENTRAL INDEX KEY: 0001181432 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-90130-01 FILM NUMBER: 03835918 BUSINESS ADDRESS: STREET 1: 7711 CENTER AVENUE STREET 2: SUITE 250 CITY: HUNTINGTON BEACH STATE: CA ZIP: 92647 BUSINESS PHONE: 7147992288 MAIL ADDRESS: STREET 1: 7711 CENTER AVENUE STREET 2: SUITE 250 CITY: HUNTINGTON BEACH STATE: CA ZIP: 92647 8-K 1 a92280e8vk.htm FORM 8-K DATED AUGUST 12, 2003 Triad Automobile Receivables Trust 2002-A
Table of Contents

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) August 12, 2003

Triad Automobile Receivables Trust 2002-A

(Issuer with respect to the Notes)

Triad Financial Corporation

(Exact name of registrant as specified in its charter)
         
California   333-90130   33-0356705
 
 
(State or Other Jurisdiction of Incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)
     
Debra Glasser, Esq.
Triad Financial Corporation
7711 Center Avenue
Suite 100
Huntington Beach, California		   92647
 
(Address of principal executive offices)   (Zip Code)
     
Registrant’s Telephone Number,
including area code:		   (714) 373-8300

No Change

(Former name or former address, if changed since last report)

 

 

 

Item 5. Other Events
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
SIGNATURES
EXHIBIT INDEX
EXHIBIT 99.1

Table of Contents

Item 5.   Other Events

  Information related to distributions to Noteholders for the July, 2003 Collection Period with respect to the Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes and the Class B Notes (the “Notes”) issued by the Issuer. The performance of the Receivables held by the Issuer as well as other information related to the Notes is contained in the Servicer’s Certificate and the Statement to Noteholders for the referenced Collection Period. Both reports have been provided to the Noteholders pursuant to the Sale and Servicing Agreement dated as of August 1, 2002 among the Issuer, Triad Financial Special Purpose LLC, as Seller, Triad Financial Corporation, as Servicer and JPMorgan Chase Bank, as Backup Servicer and Indenture Trustee (the “Agreement”).

Item 7.   Financial Statements, Pro Forma Financial Information and Exhibits.
 
(a)   Not applicable
 
(b)   Not applicable
 
(c)   Exhibits:

                    99.1 Servicer’s Certificate and Statement to Noteholders for the July, 2003 Collection Period relating to the Notes issued by the Issuer pursuant to the Agreement.

2

Table of Contents

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.

     
  TRIAD FINANCIAL CORPORATION
 
  By: /s/ Mike L. Wilhelms
   
  Name: Mike L. Wilhelms
  Title: Chief Financial Officer

Dated: August 12, 2003

3

Table of Contents

EXHIBIT INDEX

     
Exhibit No.   Description
 
99.1   Servicer’s Certificate and Statement to Noteholders for the July  , 2003 Collection Period relating to the Notes issued by the Issuer.

4 EX-99.1 3 a92280exv99w1.txt EXHIBIT 99.1 Exhibit 99.1 TRIAD AUTOMOBILE RECEIVABLES TRUST 2002-A Class A-1 1.72313% Asset Backed Notes Class A-2 1.99% Asset Backed Notes Class A-3 2.62% Asset Backed Notes Class A-4 3.24% Asset Backed Notes SCHEDULE B - SERVICER'S CERTIFICATE This Servicer's Certificate has been prepared pursuant to Section 4.9 of the Sale and Servicing Agreement among Triad Automobile Receivables Trust 2002-A, as Issuer, Triad Financial Corporation, as Servicer and Custodian, Triad Financial Special Purpose LLC, as Seller, and JPMorgan Chase Bank, as the Backup Servicer and Indenture Trustee, dated as of August 1, 2002. Defined terms have the meanings assigned to them in the Sale and Servicing Agreement or in other Transaction Documents. The undersigned hereby certifies that no Trigger Event has occurred on the related Determination Date and that, to the knowledge of the Servicer, no Insurance Agreement Event of Default has occurred. COLLECTION PERIOD BEGINNING: 7/1/2003 COLLECTION PERIOD ENDING: 7/31/2003 PREV. DISTRIBUTION/CLOSE DATE: 7/14/2003 DISTRIBUTION DATE: 8/12/2003 DAYS OF INTEREST FOR PERIOD: 29 DAYS OF COLLECTION PERIOD 31 MONTHS SEASONED: 12
ORIGINAL PURCHASES UNITS CUT-OFF DATE CLOSING DATE POOL BALANCE - -------------------------------------------------------------------------------- INITIAL PURCHASE 57,520 7/31/2002 8/21/2002 879,123,207.32 SUB. PURCHASE #1 SUB. PURCHASE #2 ------------------------------------------------------------- TOTAL 57,520 879,123,207.32
- -------------------------------------------------------------------------------- I. ORIGINAL DEAL PARAMETERS - --------------------------------------------------------------------------------
DOLLAR AMOUNT # OF CONTRACTS Original Portfolio : $ 879,123,207.32 57,520
LEGAL FINAL Original Securities: DOLLAR AMOUNT COUPON MATURITY Class A-1 Notes $ 202,000,000.00 1.72313% 9/12/2003 Class A-2 Notes 231,000,000.00 1.99000% 1/12/2006 Class A-3 Notes 187,000,000.00 2.62000% 2/12/2007 Class A-4 Notes 206,374,000.00 3.24000% 8/12/2009 Class B Notes 52,749,207.32 8.00000% 8/12/2009 ---------------- Total $ 879,123,207.32
- -------------------------------------------------------------------------------- II. COLLECTION PERIOD RECEIVABLES PRINCIPAL BALANCE CALCULATION: - -------------------------------------------------------------------------------- (1) Beginning of period Aggregate Principal Balance (1) 663,816,072.70 ---------------- (2) Subsequent Receivables Added (2) -- ---------------- Monthly Principal Amounts (3) Principal Portion of Scheduled Payments Received (3) 8,845,871.75 ---------------- (4) Principal Portion of Prepayments Received (4) 9,235,746.54 ---------------- (5) Principal Portion of Liquidated Receivables (5) 7,528,063.46 ---------------- (6) Aggregate Amount of Cram Down Losses (6) -- ---------------- (7) Other Receivables adjustments (7) -- --------------- (8) Total Principal Distributable Amounts (8) 25,609,681.75 ---------------- (9) End of Period Aggregate Principal Balance (9) 638,206,390.95 ================ (10) Pool Factor (Line 9 / Original Pool Balance) (10) 72.5958% ================
- -------------------------------------------------------------------------------- III. COLLECTION PERIOD NOTE BALANCE CALCULATION: - --------------------------------------------------------------------------------
CLASS A-1 CLASS A-2 CLASS A-3 --------- --------- --------- (11) Original Note Balance $ 202,000,000.00 231,000,000.00 187,000,000.00 ---------------- -------------- -------------- (12) Beginning of period Note Balance - 190,784,143.98 187,000,000.00 ---------------- -------------- -------------- (13) Noteholders' Principal Distributable Amount - 22,536,519.94 - (14) Class A Noteholders' Accelerated Principal Amount - - - (15) Class A Noteholders' Principal Carryover Amount - - - (16) Policy Claim Amount - - - ------------------------------------------------ (17) End of period Note Balance - 168,247,624.04 187,000,000.00 ================================================ (18) Note Pool Factors (Line 17 / Line 11) 0.0000% 72.8345% 100.0000%
CLASS A-4 CLASS B TOTAL --------- ------- ----- (11) Original Note Balance 206,374,000.00 52,749,207.32 $ 879,123,207.32 ---------------- -------------- -------------- (12) Beginning of period Note Balance 206,374,000.00 14,303,063.65 598,461,207.63 ---------------- -------------- -------------- (13) Noteholders' Principal Distributable Amount - 5,586,876.08 28,123,396.02 (14) Class A Noteholders' Accelerated Principal Amount - - (15) Class A Noteholders' Principal Carryover Amount - - (16) Policy Claim Amount - - ----------------------------------------------- (17) End of period Note Balance 206,374,000.00 8,716,187.57 570,337,811.61 =============================================== (18) Note Pool Factors (Line 17 / Line 11) 100.0000% 16.5238% 64.8758%
Class A-1 --------- (19) Class A Noteholders' Ending Note Balance 561,621,624.04 (20) Class B Noteholders' Ending Note Balance 8,716,187.57 (21) Class A Noteholders' Beginning Note Balance 584,158,143.98 (22) Class B Noteholders' Beginning Note Balance 14,303,063.65 (23) Total Noteholders Principal Distribution for Collection Period 28,123,396.02 (24) Total Noteholders Interest Distribution for Collection Period 1,377,230.60
1 TRIAD AUTOMOBILE RECEIVABLES TRUST 2002-A Class A-1 1.72313% Asset Backed Notes Class A-2 1.99% Asset Backed Notes Class A-3 2.62% Asset Backed Notes Class A-4 3.24% Asset Backed Notes SCHEDULE B - SERVICER'S CERTIFICATE - -------------------------------------------------------------------------------- IV. CALCULATION OF PRINCIPAL DISTRIBUTABLE AMOUNT: - -------------------------------------------------------------------------------- (25) Total Monthly Principal Collection Amounts (25) 25,609,681.75 ---------------- (26) Required Pro Forma Class A Note Balance (88% x Line 9) (26) 561,621,624.04 ---------------- (27) Pro Forma Class A Note Balance (Line 21 - Line 8) (27) 558,548,462.23 ---------------- (28) Step-Down Amount (Max of 0 or (Line 26 - Line 27)) (28) 3,073,161.81 3,073,161.81 ---------------- ---------------- (29) Principal Distribution Amount (Line 25 - Line 28) (29) 22,536,519.94 ================
- -------------------------------------------------------------------------------- V. RECONCILIATION OF COLLECTION ACCOUNT: - -------------------------------------------------------------------------------- AVAILABLE FUNDS (30) Interest Collections (30) 9,470,491.68 ---------------- (31) Repurchased Loan Proceeds Related to Interest (31) -- ---------------- (32) Principal Collections (32) 8,845,871.75 ---------------- (33) Prepayments in Full (33) 9,235,746.54 ---------------- (34) Prepayments in Full Due to Administrative Repurchases (34) -- ---------------- (35) Repurchased Loan Proceeds Related to Principal (35) -- ---------------- (36) Collection of Supplemental Servicing - Extension and Late Fees (36) 229,822.85 ---------------- (37) Collection of Supplemental Servicing - Repo and Recovery Fees Advanced (37) -- ---------------- (38) Liquidation Proceeds (38) 2,372,790.00 ---------------- (39) Recoveries from Prior Month Charge-Offs (39) 350,855.78 ---------------- (40) Investment Earnings - Collection Account (40) 16,323.70 ---------------- (41) Investment Earnings - Spread Account (41) 16,404.87 ---------------- (42) Total Available Funds (42) 30,538,307.17 ---------------- DISTRIBUTIONS: (43) Base Servicing Fee - to Servicer (43) 1,244,655.14 ---------------- (44) Supplemental Servicing Fee - to Servicer (44) 450,421.87 ---------------- (45) Indenture Trustee Fees (45) 250.00 ---------------- (46) Owner Trustee Fees (46) 3,000.00 ---------------- (47) Backup Servicer Fees (47) -- ----------------
NOTEHOLDERS' INTEREST DISTRIBUTABLE AMOUNT
BEGINNING INTEREST INTEREST DAYS CALCULATED CLASS NOTE BALANCE CARRYOVER RATE DAYS BASIS INTEREST -------------------------------------------------------------------- Act.Days (48) Class A-1 -- -- 1.72313% 29 /360 -- (48) -- -------------------- (49) Class A-2 190,784,143.98 -- 1.99000% 30 30/360 316,383.71 (49) 316,383.71 -------------------- (50) Class A-3 187,000,000.00 -- 2.62000% 30 30/360 408,283.33 (50) 408,283.33 -------------------- (51) Class A-4 206,374,000.00 -- 3.24000% 30 30/360 557,209.80 (51) 557,209.80 -------------------- (52) Class B 14,303,063.65 -- 8.00000% 30 30/360 95,353.76 (52) 95,353.76 -------------------------------------------------------------------- --------------------
NOTEHOLDERS' PRINCIPAL DISTRIBUTION AMOUNT
MANDATORY PRINCIPAL PRINCIPAL EXCESS NOTE TOTAL CLASS DISTRIBUTION CARRYOVER PRIN. DUE PREPAYMENT PRINCIPAL ------------------------------------------------------------------------ (53) Class A-1 -- -- -- -- -- -- (53) -- -------------------- (54) Class A-2 22,536,519.94 -- -- -- -- 22,536,519.94 (54) 22,536,519.94 -------------------- (55) Class A-3 -- -- -- -- -- -- (55) -- -------------------- (56) Class A-4 -- -- -- -- -- -- (56) -- -------------------- (57) Class B -- -- -- -- -- - - (57) -- ------------------------------------------------------------------------ --------------------
(58) Insurer Premiums - to AMBAC (58) 107,644.00 ---------------- (59) Total Distributions (59) 25,719,721.55 ---------------- (60) Excess Available Funds (or Premium Claim Amount) (60) 4,818,585.62 ---------------- (61) Deposit to Spread Account to Increase to Required Level (61) -- ---------------- (62) Amount available for Noteholders' Accelerated Principle Amount (62) -- ---------------- (63) Amount available for Deposit into the Note Distribution Account (63) 4,818,585.62 ----------------
- -------------------------------------------------------------------------------- VI. CALCULATION OF ACCELERATED PRINCIPAL AMOUNT: - -------------------------------------------------------------------------------- (64) Excess Available Funds After Amount to Increase Spread to Required Level (Line 60 - Line 61) (64) 4,818,585.62 ---------------- (65) Spread Account Balance in Excess of Required Spread Balance (65) 768,290.45 ---------------- (66) Total Excess Funds Available (66) 5,586,876.08 ---------------- (67) Pro Forma Class A Note Balance (Line 21 - Line 8) (67) 558,548,462.23 ---------------- (68) Required Pro Forma Class A Note Balance (88% x Line 9) (68) 561,621,624.04 ---------------- (69) Excess of Pro Forma Balance over Required Balance (Line 67 - Line 68) (69) -- ---------------- (70) Lesser of (Line 68) or (Line 69) (70) -- ---------------- (71) Accelerated Principal Amount (Lesser of Line 66 or 70) (71) -- ----------------
2 TRIAD AUTOMOBILE RECEIVABLES TRUST 2002-A Class A-1 1.72313% Asset Backed Notes Class A-2 1.99% Asset Backed Notes Class A-3 2.62% Asset Backed Notes Class A-4 3.24% Asset Backed Notes SCHEDULE B - SERVICER'S CERTIFICATE
- ------------------------------------------------------------------------------------------------------------------------------ VII. RECONCILIATION OF SPREAD ACCOUNT: INITIAL DEPOSIT TOTAL - ------------------------------------------------------------------------------------------------------------------------------ (72) INITIAL OR SUBSEQUENT SPREAD ACCOUNT DEPOSITS 26,373,696.22 26,373,696.22 - ------------------------------------------------------------------------------------------------------------------------------
(73) BEGINNING OF PERIOD SPREAD ACCOUNT BALANCE (73) 19,914,482.18 ADDITIONS TO SPREAD ACCOUNT ---------------- (74) Deposit from Collection Account (Line 61) (74) -- ---------------- (75) Investments Earnings (75) 16,404.87 ---------------- (76) Deposits Related to Subsequent Receivables Purchases (76) -- ---------------- (77) Total Additions (77) 16,404.87 ---------------- SPREAD ACCOUNT BALANCE AVAILABLE FOR WITHDRAWALS (78) 19,930,887.05 AND SPREAD ACCOUNT REQUIREMENT AMOUNT ---------------- (79) 3% of the Ending Pool Balance (3% x Line 9) (79) 19,146,191.73 ----------------
(80) Floor Amount (1.5% of Original Pool Balance) 13,186,848.11 -------------- (80) -- ----------------
(81) If a Spread Cap Event exists then 6% of the Ending Pool Balance -- (81) -- ---------------- (82) If a Trigger Event exists then an unlimited amount as determined by the Controlling Party (82) -- ---------------- (83) Spread Account Requirement (83) 19,146,191.73 ----------------
WITHDRAWALS FROM SPREAD ACCOUNT (84) Withdrawal pursuant to Section 5.1(b) (Transfer Investment Earnings to the Collection Account) (84) 16,404.87 ---------------- (85) Withdrawal pursuant to Section 5.7(Spread Account Draw Amount) (85) -- ---------------- (86) Withdrawal pursuant to Section 5.7(b)(x) (Unpaid amounts owed to the Insurer) (86) -- ---------------- (87) Withdrawal pursuant to Section 5.7(b)(xiii) (Other unpaid amounts owed to the Insurer) (87) -- ---------------- (88) Withdrawal pursuant to Section 5.7(b)(xiv) (Note Distribution Account - Class A Noteholders' Accelerated Principal Amount) (88) -- ---------------- (89) Withdrawal pursuant to Section 5.7(b)(xv) (Note Distribution Account - Class B Noteholders' Principal) (89) 768,290.45 ---------------- (90) Total Withdrawals (90) 784,695.32 ---------------- (91) 784,695.32 ---------------- END OF PERIOD SPREAD ACCOUNT BALANCE (92) 19,146,191.73 ----------------
- -------------------------------------------------------------------------------- VIII. CALCULATION OF OC LEVEL AND OC PERCENTAGE - -------------------------------------------------------------------------------- (93) Aggregate Principal Balance (93) 638,206,390.95 ---------------- (94) End of Period Class A Note Balance (94) 561,621,624.04 ---------------- (95) Line 93 less Line 94 (95) 76,584,766.91 ---------------- (96) OC Level (Line 95 / Line 93) (96) 12.00% ---------------- (97) Ending Spread Balance as of a percentage of Aggregate Principal Balance (Line 92 / Line 93) (97) 3.00% ---------------- (98) OC Percentage (Line 96 + Line 97) (98) 15.00% ----------------
- -------------------------------------------------------------------------------- IX. AMOUNTS DUE TO CERTIFICATEHOLDER - -------------------------------------------------------------------------------- (99) Beginning of Period Class B Noteholder Balance (99) 14,303,063.65 (100) Funds Available to the Class B Noteholder (100) 5,586,876.08 (101) Remaining Balance to the Certificateholder (101) --
For additional information on Triad Financial Corporation and portfolio performance statistics, please review the investor relations information available on Triad's website at: www.triadfinancial.com By: (S)/Mike Wilhelms Name: Mike Wilhelms Title: Sr. VP & Chief Financial Officer Date: 4-Aug-2003 3 TRIAD AUTOMOBILE RECEIVABLES TRUST 2002-A Class A-1 1.72313% Asset Backed Notes Class A-2 1.99% Asset Backed Notes Class A-3 2.62% Asset Backed Notes Class A-4 3.24% Asset Backed Notes STATEMENT TO NOTEHOLDERS This Statement to Noteholders' has been prepared pursuant to Section 5.10 of the Sale and Servicing Agreement among Triad Automobile Receivables Trust 2002-A, as Issuer, Triad Financial Corporation, as Servicer and Custodian, Triad Financial Special Purpose LLC, as Seller, and JPMorgan Chase Bank, as the Backup Servicer and Indenture Trustee, dated as of August 1, 2002. Defined terms have the meaning assigned to them in the Sale and Servicing Agreement or in the other Transaction Documents. COLLECTION PERIOD BEGINNING: 07/01/2003 COLLECTION PERIOD ENDING: 07/31/2003 PREV. DISTRIBUTION/CLOSE DATE: 07/14/2003 DISTRIBUTION DATE: 08/12/2003 DAYS OF INTEREST FOR PERIOD: 29 DAYS IN COLLECTION PERIOD: 31 MONTHS SEASONED: 12
Original Pool Balance $879,123,207.32 Beginning of Period Pool Balance 663,816,072.70 Principal Reduction during preceding Collection Period 25,609,681.75 End of Period Pool Balance $638,206,390.95
- --------------------------------------------------------------------------------------------------------------- I. COLLECTION PERIOD NOTE BALANCE CALCULATION: Class A-1 Class A-2 Class A-3 - --------------------------------------------------------------------------------------------------------------- (1) Original Note Balance (1) $202,000,000.00 $231,000,000.00 $187,000,000.00 ----------------------------------------------------- (2) Beginning of Period Note Balance (2) 0.00 190,784,143.98 187,000,000.00 (3) Note Principal Payments (3) 0.00 22,536,519.94 0.00 (4) Preliminary End of period Note Balance (4) 0.00 168,247,624.04 187,000,000.00 ----------------------------------------------------- (5) Policy Claim Amount (5) 0.00 0.00 0.00 (6) End of period Note Balance (6) 0.00 168,247,624.04 187,000,000.00 ===================================================== (7) Note Pool Factors (6) / (1) (7) 0.0000000% 72.8344693% 100.0000000% =====================================================
- --------------------------------------------------------------------------------------------------------------- I. COLLECTION PERIOD NOTE BALANCE CALCULATION: Class A-4 Class B TOTAL - --------------------------------------------------------------------------------------------------------------- (1) Original Note Balance $206,374,000.00 $52,749,207.32 $879,123,207.32 ----------------------------------------------------- (2) Beginning of Period Note Balance 206,374,000.00 14,303,063.65 598,461,207.63 (3) Note Principal Payments 0.00 5,586,876.08 28,123,396.02 (4) Preliminary End of period Note Balance 206,374,000.00 8,716,187.57 570,337,811.61 ----------------------------------------------------- (5) Policy Claim Amount 0.00 0.00 0.00 (6) End of period Note Balance 206,374,000.00 8,716,187.57 570,337,811.61 ===================================================== (7) Note Pool Factors (6) / (1) 100.0000000% 16.5238266% 64.8757543% =====================================================
- --------------------------------------------------------------------------------------------------------------- II. NOTE INTEREST DISTRIBUTION and CARRYOVER AMOUNT Class A-1 Class A-2 Class A-3 - --------------------------------------------------------------------------------------------------------------- (8) Note Interest Payments (8) 0.00 316,383.71 408,283.33 (9) Interest Carryover Amount (9) 0.00 0.00 0.00
- --------------------------------------------------------------------------------------------------------------- II. NOTE INTEREST DISTRIBUTION and CARRYOVER AMOUNT Class A-4 Class B TOTAL - --------------------------------------------------------------------------------------------------------------- (8) Note Interest Payments 557,209.80 95,353.76 1,377,230.60 (9) Interest Carryover Amount 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------- III. DISTRIBUTION PER $1,000 OF ORIGINAL BALANCE Class A-1 Class A-2 Class A-3 - ---------------------------------------------------------------------------------------------------------------- (10) Principal Distribution (10) -- 97.56 0.00 (11) Interest Distribution (11) -- 1.66 2.18 ------------------------------------------------------ (12) Total Distribution (10) + (11) (12) -- 99.22 2.18
- --------------------------------------------------------------------------------------------------------------- III. DISTRIBUTION PER $1,000 OF ORIGINAL BALANCE CLASS A-4 CLASS B TOTAL - --------------------------------------------------------------------------------------------------------------- (10) Principal Distribution 0.00 105.91 203.47 (11) Interest Distribution 2.70 6.67 13.21 ----------------------------------------------------- (12) Total Distribution (10) + (11) 2.70 112.58 216.68
- -------------------------------------------------------------------------------- IV. SERVICING FEE PAID TO THE SERVICER - -------------------------------------------------------------------------------- (13) Base Servicing Fee Paid for the Prior Collection Period $ 1,244,655.14 (14) Supplemental Servicing Fee Paid for the Prior Collection Period 450,421.87 --------------- (15) Total Fees Paid to the Servicer $ 1,695,077.01
- -------------------------------------------------------------------------------- V. COLLECTION PERIOD AND CUMULATIVE NUMBER OF RECEIVABLES CALCULATION: - --------------------------------------------------------------------------------
-------------------------------------- CUMULATIVE MONTHLY -------------------------------------- (16) Original Number of Receivables (16) 57,520 -------------------------------------- (17) Beginning of period number of Receivables (17) 49,087 49,087 (18) Number of Subsequent Receivables Purchased (18) 0 0 (19) Number of Receivables becoming Liquidated Receivables during period (19) 3,744 559 (20) Number of Receivables becoming Purchased Receivables during period (20) 7 0 (21) Number of Receivables paid off during period (21) 5,959 718 -------------------------------------- (22) End of period number of Receivables (22) 47,810 47,810 --------------------------------------
- -------------------------------------------------------------------------------- VI. STATISTICAL DATA: (CURRENT AND HISTORICAL) - --------------------------------------------------------------------------------
-------------------------------------- ORIGINAL PREV. MONTH CURRENT -------------------------------------- (23) Weighted Average APR of the Receivables (23) 18.03% 17.99% 17.99% (24) Weighted Average Remaining Term of the Receivables (24) 60.3 50.3 49.4 (25) Weighted Average Original Term of Receivables (25) 64.7 64.9 64.9 (26) Average Receivable Balance (26) $15,284 $13,523 $13,349 (27) Aggregate Realized Losses (27) $0 $4,301,395 $4,804,418 --------------------------------------
4 - -------------------------------------------------------------------------------- VII. DELINQUENCY SUMMARY: (PRECEDING COLLECTION PERIOD) - --------------------------------------------------------------------------------
-------------------------------------- Receivables with Scheduled Payment delinquent Units Dollars Percentage -------------------------------------- (28) 31-60 days (28) 2,901 $39,510,136 6.19% (29) 61-90 days (29) 885 11,798,600 1.85% (30) over 90 days (30) 728 9,652,115 1.51% -------------------------------------- (31) Receivables with Scheduled Payment delinquent more than 30 days at end of period (31) 4,514 $60,960,852 9.55% --------------------------------------
- -------------------------------------------------------------------------------- VIII. NET LOSS RATE: (PRECEDING COLLECTION PERIOD) - -------------------------------------------------------------------------------- (32) Total Net Liquidation Losses for the preceding Collection Period (32) 4,804,417.68 (33) Beginning of Period Pool Balance (33) 663,816,072.70 (34) Net Loss Rate (34) 0.72%
- -------------------------------------------------------------------------------- IX. MONTHLY EXTENSION RATE (PRECEDING COLLECTION PERIOD) - -------------------------------------------------------------------------------- (35) Aggregate Principal Balance of Receivables extended during the preceding collection period (35) 11,812,805.78 (36) Beginning of Period Pool Balance (36) 663,816,072.70 (37) Monthly Extension Rate (37) 1.78%
- -------------------------------------------------------------------------------- X. PERFORMANCE TESTS: - -------------------------------------------------------------------------------- Delinquency Rate (38) Receivables with Scheduled Payment delinquent > 60 days at end of preceding collection period ( 29 + 30 ) (38) $21,450,715.49 ---------------- (39) End of period Principal Balance (39) 638,206,390.95 ---------------- (40) Delinquency Ratio (38) divided by (39) (40) 3.36% ---------------- (41) Delinquency Rate Trigger Level for the Preceding Collection Period (41) 8.75% ---------------- (42) Preceding Collection Period Delinquency Rate Compliance (42) PASS ---------------- ROLLING AVERAGE NET LOSS RATE (43) Net Loss Rate in Preceding Collection Period (43) 0.72% ---------------- (44) Net Loss Rate in Second Preceding Collection Period (44) 0.63% ---------------- (45) Net Loss Rate in Third Preceding Collection Period (45) 0.47% ---------------- (46) Rolling Average Net Loss Rate ((43) +(44) +(45)) / 3 (46) 0.61% ---------------- (47) Rolling Average Net Loss Rate Trigger Level for the Preceding Collection Period (47) 14.00% ---------------- (48) Preceding Collection Period Rolling Average Net Loss Rate Compliance (48) PASS ---------------- AVERAGE MONTHLY EXTENSION RATE (49) Principal Balance of Receivables extended during preceding Collection Period (49) 1.78% ---------------- (50) Principal Balance of Receivables extended during the Second Preceding Collection Period (50) 1.61% ---------------- (51) Principal Balance of Receivables extended during the Third Preceding Collection Period (51) 1.33% ---------------- (52) Average Monthly Extension Rate ((49) +(50) +(51)) / 3 (52) 1.57% ---------------- (53) Average Monthly Extension Rate Compliance (Extension Rate Maximum = 4%) (53) PASS ----------------
For additional information on Triad Financial Corporation and portfolio performance statistics, please review the investor relations information available on Triad's website at: www.triadfinancial.com By: (S)/Mike Wilhelms Name: Mike Wilhelms Title: Sr. VP & Chief Financial Officer Date: 4-Aug-2003 5 -----END PRIVACY-ENHANCED MESSAGE-----