-----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, L8jObLtkSFgGcu4h5pkE4AMEw21pnapvQACcQ7EaWeiXHPzcKeICrX/XS/nfMVte pvPp3DnqIv1x1NsqwLawqg== 0000950117-05-003969.txt : 20051017 0000950117-05-003969.hdr.sgml : 20051017 20051017165036 ACCESSION NUMBER: 0000950117-05-003969 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20051017 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051017 DATE AS OF CHANGE: 20051017 FILER: COMPANY DATA: COMPANY CONFORMED NAME: USAA AUTO OWNER TRUST 2005-2 CENTRAL INDEX KEY: 0001330665 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-122759-02 FILM NUMBER: 051141269 BUSINESS ADDRESS: STREET 1: 10750 MCDERMOTT FREEWAY CITY: SAN ANTONIO STATE: TX ZIP: 78288 BUSINESS PHONE: 2104987479 MAIL ADDRESS: STREET 1: 10750 MCDERMOTT FREEWAY CITY: SAN ANTONIO STATE: TX ZIP: 78288 8-K 1 a40653.txt AUTO OWNER TRUST 2005-2 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 or earliest event reported): October 17, 2005 USAA AUTO OWNER TRUST 2005-2 (Exact name of registrant as specified in its charter) STATE (or other jurisdiction of COMMISSION FILE NO.: IRS EMPLOYEE I.D.: incorporation): Delaware 333-122759-02 N/A
One Rodney Square 920 King St., 1st Floor Wilmington, Delaware 19801 Telephone No.: (302) 888-7536 Registrant's telephone number: (210) 498-0626 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2 below): [_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [_] Pre-commencement communications pursuant to Rule 14d-2b under the Exchange Act (17 CFR 240.14d-2(b)) [_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ITEM 8.01. - OTHER EVENTS On October 17, 2005, the USAA Auto Owner Trust 2005-2 made the distribution to Certificateholders contemplated by the Sale and Servicing Agreement (the "Sale and Servicing Agreement"), dated as of June 1, 2005, between USAA Federal Savings Bank, as Seller and Servicer (the "Bank"), and JP Morgan Chase Bank, National Association, as Indenture Trustee. A copy of the Certificateholder Report for such Distribution Date delivered pursuant to Section 4.9 of the Sale and Servicing Agreement is being filed as an Exhibit to this Current Report on Form 8-K. ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS 20. Certificateholder Report, dated October 17, 2005, delivered pursuant to Section 4.9 of the Sale and Servicing Agreement, dated as of June 1, 2005, between USAA Federal Savings Bank, as Seller and Servicer, and JP Morgan Chase Bank, National Association, as Indenture Trustee. SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the Bank has caused this report to be signed on its behalf by the undersigned thereunto duly authorized. USAA FEDERAL SAVINGS BANK /s/ MICHAEL J. BROKER -------------------------------------- By: Michael J. Broker Title: Vice President - Banking Counsel Date: October 17, 2005 INDEX TO EXHIBITS Exhibit Description 20 Certificateholder Report, dated October 17, 2005, delivered pursuant to Section 4.9 of the Sale and Servicing Agreement, dated as of June 1, 2005, between USAA Federal Savings Bank, as Seller and Servicer, and JP Morgan Chase Bank, National Association, as Indenture Trustee. EX-20 2 ex20.txt EXHIBIT 20
USAA Auto Owner Trust 2005-2 Seller & Servicer: USAA Federal Savings Bank Indenture Trustee: JPMorgan Chase Bank Monthly Servicer Report Collection Period # 4 9/1/2005 Collection Period # End Date 9/30/2005 Distribution Date 10/17/2005 Acceleration Event (1=yes; 0=no)? -- I. Available Amount in the Collection Account A. Credits 1. Payments from Obligors Applied to Collection Period a. Principal Payments $ 25,194,621.26 b. Interest Payments $ 3,635,056.06 ---------------------- c. Total (a+b) $ 28,829,677.32 2. Repurchase Amount From Repurchased Receivable a. Principal Payments $ -- b. Interest Payments $ -- ---------------------- c. Total (a+b) $ -- 3. Recovery of Defaulted Receivable a. Principal Recovery Amount $ 5,387.78 b. Principal Balance of Defaulted Receivable $ 163,826.18 ---------------------- c. Net Principal loss (Realized Loss) $ 158,438.40 4 a. Interest Advance by Servicer $ -- b. Reimbursement of Interest Advance by Servicer $ -- 5. Investment Earnings on Collection Account (as of month end) $ 79,085.03 6. Overpayment from Obligors $ -- 7. Net Adjustments a. to Interest Collections $ -- b. to Principal Collections $ -- 8. Total Credits (sum 1 through 7) $ 28,914,150.13 B. Debits 1. Overpayment from Obligors $ -- 2. Reimbursement of Interest Advance by Servicer $ -- 3. Total Debits $ -- C. Total Collections (A-B) $ 28,914,150.13 1. Available Interest Collections $ 3,719,528.87 2. Available Principal Collections $ 25,194,621.26 II. Receivable Pool & Securities Balance A. Original Principal Pool Balance $ 863,229,233.25 B. Principal Pool Balance as of the Beginning of the Collection Period $ 785,089,772.21 C. Principal Pool Balance as of the End of the Collection Period $ 759,731,324.77 D. Aggregate Securities Balance as of the Beginning of the Collection Period $ 785,089,772.21 E. Aggregate Securities Balance as of the End of the Collection Period $ 759,731,324.77 F. Aggregate Notes Balance as of the Beginning of the Collection Period $ 758,329,538.96 G. Aggregate Notes Balance as of the End of the Collection Period $ 732,971,091.52 III. Class A and Class B Principal Balances For the Collection Period A. Principal Balance 1. Class A-1 Beginning Balance $ 104,860,538.96 2. Class A-1 Ending Balance $ 79,502,091.52 3. Class A-2 Beginning Balance $ 191,000,000.00 4. Class A-2 Ending Balance $ 191,000,000.00 5. Class A-3 Beginning Balance $ 332,000,000.00 6. Class A-3 Ending Balance $ 332,000,000.00 7. Class A-4 Beginning Balance $ 130,469,000.00 8. Class A-4 Ending Balance $ 130,469,000.00 9. Class B Beginning Balance $ 26,760,233.25 10. Class B Ending Balance $ 26,760,233.25
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USAA Auto Owner Trust 2005-2 Seller & Servicer: USAA Federal Savings Bank Indenture Trustee: JPMorgan Chase Bank Monthly Servicer Report Collection Period # 4 9/1/2005 Collection Period # End Date 9/30/2005 Distribution Date 10/17/2005 IV. Reserve Account Balance For the Collection Period A. Initial Reserve Account Deposit $ 6,474,219.25 B. Beginning Reserve Account Balance $ 9,446,290.88 C. Ending Reserve Account Balance $ 9,496,641.56 V. Summary of Cash Disbursements A. Available Collections $ 28,914,150.13 B. Total Required Payment $ 2,913,655.72 C. Withdrawals from Reserve Account (Total Required Payment minus Available Funds) $ -- D. Funds Released From Reserve Account (to Seller) $ -- ---------------------- E. Available Funds $ 28,914,150.13 F. Reimbursement of Servicer Advances on Defaulted Loans $ -- G. Payment of Servicing Fee $ 327,120.74 H. Interest paid to Class A Notes 1. Class A-1 Notes $ 319,074.31 2. Class A-2 Notes $ 604,833.33 3. Class A-3 Notes $ 1,106,666.67 4. Class A-4 Notes $ 453,379.78 ---------------------- 5. Total $ 2,483,954.09 I. Priority Note Principal Payment Amount $ -- J. Interest paid to Class B Certificates $ 102,580.89 K. Principal paid to Class A Notes Including Priority Note Principle Amounts 1. Class A-1 Notes $ 25,358,447.44 2. Class A-2 Notes $ -- 3. Class A-3 Notes $ -- 4. Class A-4 Notes $ -- ---------------------- 5. Total $ 25,358,447.44 L. Principal paid to Class B Certificates $ -- M. Remaining Available Funds $ 642,046.97 N. Deposit from Remaining Available Collection to fund Reserve Account $ 50,350.68 O. Remaining Available Funds Released to Seller $ 591,696.29 VI. Scheduled Monthly Interest Distribution A. Available Collections $ 28,914,150.13 B. Reimbursement of Advance 1. Prior Advance Outstanding on Defaulted Loans $ -- 2. Reimbursement of Prior Advance Outstanding on Defaulted Loans from Available Funds $ -- 3. Remaining Prior Advance Outstanding on Defaulted loans $ -- 4. Reimbursement of Prior Advance Outstanding on Defaulted loans from Reserve Account $ -- 5. Remaining Advance Outstanding on Defaulted Loans $ -- C. Total Reimbursement of Advance paid $ -- D. Remaining Available Collections $ 28,914,150.13 E. Servicing Fee 1. Current Servicing Fee Accrued $ 327,120.74 2. Unpaid Servicing Fees From Prior Collection Periods $ -- 3. Total Servicing Fee Due $ 327,120.74 4. Payment of Servicing Fee from Available Funds $ 327,120.74 5. Payment of Servicing Fee from Reserve Account $ -- 6. This period unpaid Servicing Fee $ -- F. Total Servicing Fee paid $ 327,120.74 G. Remaining Available Collections $ 28,587,029.39
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USAA Auto Owner Trust 2005-2 Seller & Servicer: USAA Federal Savings Bank Indenture Trustee: JPMorgan Chase Bank Monthly Servicer Report Collection Period # 4 9/1/2005 Collection Period # End Date 9/30/2005 Distribution Date 10/17/2005 H. Class A Interest Distribution Amount 1. Class A-1 Coupon Rate 3.42320% a. Class A-1 Accrual Days 32 2. Class A-1 Monthly Interest $ 319,074.31 3. Class A-1 Interest Carryover Shortfall $ -- 4. Class A-1 Interest on Interest Carryover Shortfall $ -- 5. Class A-1 Interest Distributable Amount $ 319,074.31 6. Payment of Class A-1 Interest Distributable Amount from Available Funds $ 319,074.31 7. Payment of Class A-1 Interest Distributable Amount from Reserve Account $ -- 8. This period Class A-1 Interest Carryover Shortfall $ -- 1. Class A-2 Coupon Rate 3.80% a. Class A-2 Accrual Days 30 2. Class A-2 Monthly Interest $ 604,833.33 3. Class A-2 Interest Carryover Shortfall $ -- 4. Class A-2 Interest on Interest Carryover Shortfall $ -- 5. Class A-2 Interest Distributable Amount $ 604,833.33 6. Payment of Class A-2 Interest Distributable Amount from Available Funds $ 604,833.33 7. Payment of Class A-2 Interest Distributable Amount from Reserve Account $ -- 8. This period Class A-2 Interest Carryover Shortfall $ -- 1. Class A-3 Coupon Rate 4.00% a. Class A-3 Accrual Days 30 2. Class A-3 Monthly Interest $ 1,106,666.67 3. Class A-3 Interest Carryover Shortfall $ -- 4. Class A-3 Interest on Interest Carryover Shortfall $ -- 5. Class A-3 Interest Distributable Amount $ 1,106,666.67 6. Payment of Class A-3 Interest Distributable Amount from Available Funds $ 1,106,666.67 7. Payment of Class A-3 Interest Distributable Amount from Reserve Account $ -- 8. This period Class A-3 Interest Carryover Shortfall $ -- 1. Class A-4 Coupon Rate 4.17% a. Class A-4 Accrual Days 30 2. Class A-4 Monthly Interest $ 453,379.78 3. Class A-4 Interest Carryover Shortfall $ -- 4. Class A-4 Interest on Interest Carryover Shortfall $ -- 5. Class A-4 Interest Distributable Amount $ 453,379.78 6. Payment of Class A-4 Interest Distributable Amount from Available Funds $ 453,379.78 7. Payment of Class A-4 Interest Distributable Amount from Reserve Account $ -- 8. This period Class A-4 Interest Carryover Shortfall $ -- 1. Total Class A Interest Distributable Amount $ 2,483,954.09 1. Payment of Class A Interest Distributable Amount from Available Funds $ 2,483,954.09 2. Payment of Class A Interest Distributable Amount from Reserve Account $ -- 3. This period Class A Interest Carryover Shortfall $ -- I. Total Interest paid to Class A Notes $ 2,483,954.09 J. Remaining Available Collections $ 26,103,075.30 K. Priority Note Principal Amount 1. Principal Pool Balance as of the End of the Collection Period $ 759,731,324.77 2. Aggregate Note Balances as of the Beginning of the Collection Period $ 758,329,538.96 3. Priority Note Principal Payment Amount Payable $ -- 4. Priority Note Principal Payment Amount From Available Funds $ -- 5. Payment of Priority Note Principal Payment Amount From Reserve Account $ -- 6. Aggregate Priority Note Principal Payment Amount $ -- L. Remaining Available Collections $ 26,103,075.30
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USAA Auto Owner Trust 2005-2 Seller & Servicer: USAA Federal Savings Bank Indenture Trustee: JPMorgan Chase Bank Monthly Servicer Report Collection Period # 4 9/1/2005 Collection Period # End Date 9/30/2005 Distribution Date 10/17/2005 M. Class B Interest Distribution Amount 1. Class B Coupon Rate 4.60% a. Class B Accrual Days 30 2. Class B Monthly Interest $ 102,580.89 3. Class B Interest Carryover Shortfall $ -- 4. Class B Interest on Interest Carryover Shortfall $ -- 5. Class B Interest Distributable Amount $ 102,580.89 6. Payment of Class B Interest Distributable Amount from Available Funds $ 102,580.89 7. Payment of Class B Interest Distributable Amount from Reserve Account $ -- 8. This period Class B Interest Carryover Shortfall $ -- N. Total Interest paid to Class B Certificates $ 102,580.89 O. Remaining Available Collections $ 26,000,494.41 VII. Scheduled Monthly Principal Distributions A. Remaining Available Collections $ 26,000,494.41 B. Class A Principal Distribution Amount 1. Beginning Class A-1 Principal Balance $ 104,860,538.96 2. Class A-1 Monthly Principal $ 25,358,447.44 3. Class A-1 Principal Carryover Shortfall $ -- 4. Class A-1 Principal Distribution Amount $ 25,358,447.44 5. Payment of Class A-1 Principal Distribution Amount from Priority Note Principal Payment Account $ -- 6. Payment of Class A-1 Principal Distribution Amount from Available Funds $ 25,358,447.44 7. Payment of Class A-1 Principal Distribution Amount from Reserve Account $ -- 8. Class A-1 Principal Carryover Shortfall for the Period $ -- 9. Ending Class A-1 Principal Balance $ 79,502,091.52 Total Principal paid to Class A-1 Notes $ 25,358,447.44 1. Beginning Class A-2 Principal Balance $ 191,000,000.00 2. Class A-2 Monthly Principal $ -- 3. Class A-2 Principal Carryover Shortfall $ -- 4. Class A-2 Principal Distribution Amount $ -- 5. Payment of Class A-2 Principal Distribution Amount from Priority Note Principal Payment Account $ -- 6. Payment of Class A-2 Principal Distribution Amount from Available Funds $ -- 7. Payment of Class A-2 Principal Distribution Amount from Reserve Account $ -- 8. Class A-2 Principal Carryover Shortfall for the Period $ -- 9. Ending Class A-2 Principal Balance $ 191,000,000.00 Total Principal paid to Class A-2 Notes $ -- 1. Beginning Class A-3 Principal Balance $ 332,000,000.00 2. Class A-3 Monthly Principal $ -- 3. Class A-3 Principal Carryover Shortfall $ -- 4. Class A-3 Principal Distribution Amount $ -- 5. Payment of Class A-3 Principal Distribution Amount from Priority Note Principal Payment Account $ -- 6. Payment of Class A-3 Principal Distribution Amount from Available Funds $ -- 7. Payment of Class A-3 Principal Distribution Amount from Reserve Account $ -- 8. Class A-3 Principal Carryover Shortfall for the Period $ -- 9. Ending Class A-3 Principal Balance $ 332,000,000.00 Total Principal paid to Class A-3 Notes $ -- 1. Beginning Class A-4 Principal Balance $ 130,469,000.00 2. Class A-4 Monthly Principal $ -- 3. Class A-4 Principal Carryover Shortfall $ -- 4. Class A-4 Principal Distribution Amount $ -- 5. Payment of Class A-4 Principal Distribution Amount from Priority Note Principal Payment Account $ -- 6. Payment of Class A-4 Principal Distribution Amount from Available Funds $ -- 7. Payment of Class A-4 Principal Distribution Amount from Reserve Account $ -- 8. Class A-4 Principal Carryover Shortfall for the Period $ -- 9. Ending Class A-4 Principal Balance $ 130,469,000.00 Total Principal paid to Class A-4 Notes $ --
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USAA Auto Owner Trust 2005-2 Seller & Servicer: USAA Federal Savings Bank Indenture Trustee: JPMorgan Chase Bank Monthly Servicer Report Collection Period # 4 9/1/2005 Collection Period # End Date 9/30/2005 Distribution Date 10/17/2005 1. Total Class A Principal Distribution Amount $ 25,358,447.44 2. Payment of Class A Principal Distribution Amount from Available Funds $ 25,358,447.44 3. Payment of Class A Principal Distribution Amount from Priority Principal Payment Account $ -- 4. Payment of Class A Principal Distribution Amount from Reserve Account $ -- C. Total Principal paid to Class A Noteholders $ 25,358,447.44 D. Remaining Available Collections $ 642,046.97 E. Class B Principal Distribution Amount 1. Beginning Class B Principal Balance $ 26,760,233.25 2. Class B Monthly Principal $ -- 3. Class B Principal Carryover Shortfall $ -- 4. Total Class B Principal Distribution Amount $ -- 5. Payment of Class B Principal Distribution Amount from Available Collections $ -- 6. Payment of Class B Principal Distribution Amount from Reserve Account $ -- 7. Class B Principal Carryover Shortfall for the Period $ -- 8. Ending Class B Principal Balance $ 26,760,233.25 Total Principal paid to Class B Notes $ -- F. Total Principal paid to Class B Certificates $ -- G. Remaining Available Collections $ 642,046.97 VIII. Required Reserve Account Amount for Next Distribution Date A. Reserve Account Required Amount 1. Floor Amount = 0.50% of Initial Pool Balance $ 4,316,146.17 2. Target Amount = 1.25% of Current (Ending) Pool Balance $ 9,496,641.56 3. Required Reserve Account Amount =min((Max: 1. or 2.), Class A + Class B) $ 9,496,641.56 4. Required Reserve Deposit Amount $ 50,350.68 5. Withdrawal of funds in Reserve Account in Excess of Required Reserve Account Balance $ -- B. Remaining Available Collections $ 642,046.97 C. Reserve Account Activity 1. Beginning Reserve Account Balance $ 9,446,290.88 2. Withdrawal from Reserve Account to reimburse Servicer Advance on Defaulted loans $ -- 3. Withdrawal from Reserve Account to pay Servicing Fee $ -- 4. Withdrawal from Reserve Account to pay Class A Interest $ -- a. Class A-1 $ -- b. Class A-2 $ -- c. Class A-3 $ -- d. Class A-4 $ -- e. Total $ -- 5. Withdrawal from Reserve Account to pay Priority Note Principal $ -- 6. Withdrawal from Reserve Account to pay Class B Interest $ -- 7. Withdrawal from Reserve Account to pay Class A Principal $ -- a. Class A-1 $ -- b. Class A-2 $ -- c. Class A-3 $ -- d. Class A-4 $ -- e. Total $ -- 8. Withdrawal from Reserve Account to pay Class B Principal $ -- 9. Deposit from Remaining Available Funds to fund Reserve Account (up to Required Amount) $ 50,350.68 10. Withdrawal of funds in Reserve Account in Excess of Required Reserve Account Balance $ -- 11. Ending Reserve Account Balance $ 9,496,641.56
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USAA Auto Owner Trust 2005-2 Seller & Servicer: USAA Federal Savings Bank Indenture Trustee: JPMorgan Chase Bank Monthly Servicer Report Collection Period # 4 9/1/2005 Collection Period # End Date 9/30/2005 Distribution Date 10/17/2005 IX. Delinquency and Default Information A. Receivables Delinquency Information Delinquency $ ---------------------- 31-60 days $ 1,132,237.27 61-90 days $ 266,945.26 91-120 days $ 81,774.24 ---------------------- Total $ 1,480,956.77 Delinquency Units ---------------------- 31-60 days 73 61-90 days 18 91-120 days 7 ---------------------- Total 98 Outstanding Principal Balance for Delinquency >=90 days $ 81,774.24 Pool Principal Ending Balance for Collection Period $ 759,731,324.77 Delinquency Percentage >=90 days 0.01% B. Receivables Default Information Principal Recoveries of Defaulted Receivable $ 5,387.78 Principal Balance of Defaulted Receivable $ 163,826.18 Average Pool Balance for Collection Period $ 772,410,548.49 Net Loss Ratio (period) 0.02% Net Loss Ratio (cumulative) 0.03% Weighted Average Coupon 5.44% Weighted Average Remaining Maturity 54.92 $836,469,000 Auto Owner Trust 2005-2, Class A $26,760,233 Auto Owner Trust 2005-2, Class B MONTHLY SERVICER REPORT X. (Reserved) XI. (Reserved)
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USAA Auto Owner Trust 2005-2 Seller & Servicer: USAA Federal Savings Bank Indenture Trustee: JPMorgan Chase Bank Monthly Servicer Report Collection Period # 4 9/1/2005 Collection Period # End Date 9/30/2005 Distribution Date 10/17/2005 On October 17, 2005, interest and principal paid on the underlying assets for the month of September 2005 were paid to you by the paying agent on behalf of JPMorgan Chase Bank of New York, in its capacity as Indenture Trustee for the above referenced issue. The following information is being provided pursuant to Section 4.9 of the Sale and Servicing Agreement, dated as of June 1, 2005. This payment per dollar current outstandings of your holdings is allocated as follows: XII. Interest and Principal Paid for Current Month A. Class A-1 Principal Payment $ 25,358,447.44 1. Principal Factor 0.241830222 2. Class A-1 Outstanding Principal Balance $ 79,502,091.52 B. Class A-2 Principal $ -- 1. Principal Factor 0 2. Class A-2 Outstanding Principal Balance $ 191,000,000.00 C. Class A-3 Principal $ -- 1. Principal Factor 0 2. Class A-3 Outstanding Principal Balance $ 332,000,000.00 D. Class A-4 Principal $ -- 1. Principal Factor 0 2. Class A-4 Outstanding Principal Balance $ 130,469,000.00 E. Class A-1 Interest $ 319,074.31 1. Interest Factor 0.003042844 F. Class A-2 Interest $ 604,833.33 1. Interest Factor 0.003166667 G. Class A-3 Interest $ 1,106,666.67 1. Interest Factor 0.003333333 H. Class A-4 Interest $ 453,379.78 1. Interest Factor 0.003475 I. Class B Principal $ -- 1. Principal Factor 0 2. Class B Outstanding Principal Balance $ 26,760,233.25 J. Class B Interest $ 102,580.89 1. Interest Factor 0.003833333 K. Fees and Compensation paid to Servicer $ 327,120.74 L. Interest Advance Amount $ -- M. Aggregate Unreimbursed Advances This Month $ -- Previous Month $ -- ---------------------- Change From Previous Month $ -- N. Pool Balance after this payment $ 759,731,324.77 O. Pool Factor after this payment 0.880103796 P. Reserve Account Activity 1. Beginning Reserve Account Balance $ 9,446,290.88 2. Withdrawal from Reserve Account to reimburse Servicer Advance on Defaulted loans $ -- 3. Withdrawal from Reserve Account to pay Servicing Fee $ -- 4. Withdrawal from Reserve Account to pay Class A Interest $ -- a. Class A-1 $ -- b. Class A-2 $ -- c. Class A-3 $ -- d. Class A-4 $ -- e. Total $ -- 5. Withdrawal from Reserve Account to pay Priority Note Principal Payments $ -- 6. Withdrawal from Reserve Account to pay Class B Interest $ -- 7. Withdrawal from Reserve Account to pay Class A Principal $ -- a. Class A-1 $ --
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USAA Auto Owner Trust 2005-2 Seller & Servicer: USAA Federal Savings Bank Indenture Trustee: JPMorgan Chase Bank Monthly Servicer Report Collection Period # 4 9/1/2005 Collection Period # End Date 9/30/2005 Distribution Date 10/17/2005 b. Class A-2 $ -- c. Class A-3 $ -- d. Class A-4 $ -- e. Total $ -- 8. Withdrawal from Reserve Account to pay Class B Principal $ -- 9. Deposit from Remaining Available Funds to fund Reserve Account $ 50,350.68 10. Withdrawal of funds in Reserve Account in Excess of Required Reserve Balance $ -- 11. Ending Reserve Account Balance $ 9,496,641.56 12. Percent of Pool Balance 1.21% 13. Required Reserve Amount $ 9,496,641.56 Q. Aggregate Principal Balance Designated as Defaulted Receivable in current collection Period $ 163,826.18 1. Aggregate Gross Realized Losses $ 163,826.18 2. Aggregate Net Realized Losses $ 158,438.40 R. Aggregate Repurchase Amount of Receivables $ -- S. Aggregate Collections $ 28,914,150.13
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