EX-99 2 dex99.htm MONTHLY SERVICER'S CERTIFICATE DATED APRIL 30,2006 Monthly Servicer's Certificate dated April 30,2006

Exhibit 99

AmeriCredit Automobile Receivables Trust 2006-1

Class A-1 4.78% Asset Backed Notes

Class A-2 5.11% Asset Backed Notes

Class A-3 5.11% Asset Backed Notes

Class B 5.20% Asset Backed Notes

Class C 5.28% Asset Backed Notes

Class D 5.49% Asset Backed Notes

Class E 6.62% Asset Backed Notes

Servicer’s Certificate

This Servicer’s Certificate has been prepared pursuant to Section 4.9 of the Sale and Servicing Agreement among AmeriCredit Automobile Receivables Trust 2006-1, as Issuer, AmeriCredit Financial Services, Inc., as Servicer, AFS SenSub Corp., as Seller, and Wells Fargo Bank, N.A., as Trust Collateral Agent and Backup Servicer, dated as of February 22, 2006. Defined terms have the meanings assigned to them in the Sale and Servicing Agreement or in other Transaction Documents.

 

Monthly Period Beginning:    04/01/2006
Monthly Period Ending:    04/30/2006
Prev. Distribution/Close Date:    04/06/2006
Distribution Date:    05/08/2006
Days of Interest for Period:    32
Days in Collection Period:    30
Months Seasoned:    2

 

Purchases

    Units    Cut-off Date    Closing Date    Original Pool
Balance

Initial Purchase

    59,185    02/23/2006    03/02/2006    $ 1,000,001,967
               

Total

    59,185          $ 1,000,001,967

 

I.

  

MONTHLY PERIOD RECEIVABLES PRINCIPAL BALANCE CALCULATION:

 

    {1}

  

Beginning of period Aggregate Principal Balance

       {1}     $ 975,991,769  
 

Monthly Principal Amounts

        
  {2}    Collections on Receivables outstanding at end of period    {2}    22,668,521    
 

{3}

    Collections on Receivables paid off during period    {3}    8,267,442    
 

{4}

    Receivables becoming Liquidated Receivables during period    {4}    574,634    
 

{5}

    Receivables becoming Purchased Receivables during period    {5}    0    
 

{6}

    Other Receivables adjustments    {6}    363    
 

{7}

    Less amounts allocable to Interest    {7}    (13,384,816 )  
 

{8}

    Total Monthly Principal Amounts       {8}       18,126,144  
                    

    {9}

  

End of period Aggregate Principal Balance

       {9}     $ 957,865,625  
                    

    {10}

  

Pool Factor

       {10}       95.7863741 %
                    

 

II.    MONTHLY PERIOD NOTE BALANCE
CALCULATION:		    Class A-1     Class A-2     Class A-3     Class B  

    {11}

    Original Note Balance    {11}    $ 166,000,000     $ 309,000,000     $ 200,000,000     $ 75,000,000  
                                      

    {12}

    Beginning of period Note Balance    {12}    $ 132,012,747     $ 309,000,000     $ 200,000,000     $ 75,000,000  
                                      

    {13}

    Noteholders’ Principal Distributable Amount    {13}      18,126,144       0       0       0  

    {14}

    Noteholders’ Accelerated Principal Amount    {14}      7,335,208       0       0       0  

    {15}

    Aggregate Principal Parity Amount    {15}      0       0       0       0  

    {16}

    Matured Principal Shortfall    {16}         

    {17}

    End of period Note Balance    {17}    $ 106,551,395     $ 309,000,000     $ 200,000,000     $ 75,000,000  

    {18}

    Note Pool Factors    {18}      64.1875873 %     100.0000000 %     100.0000000 %     100.0000000 %
               Class C     Class D     Class E     TOTAL  
         $ 80,000,000     $ 50,000,000     $ 65,000,000     $ 945,000,000  
                                      

    {19}

    Beginning of period Note Balance    {19}    $ 80,000,000     $ 50,000,000     $ 65,000,000     $ 911,012,747  
                                      

    {20}

    Noteholders’ Principal Distributable Amount    {20}      0       0       0       18,126,144  

    {21}

    Noteholders’ Accelerated Principal Amount    {21}      0       0       0       7,335,208  

    {22}

    Class E Accelerated Principal Amount    {22}          0       0  

    {23}

    Aggregate Principal Parity Amount    {23}      0       0       0       0  

    {24}

    Matured Principal Shortfall    {24}            0  
                    

    {25}

    End of period Note Balance    {25}    $ 80,000,000     $ 50,000,000     $ 65,000,000     $ 885,551,395  
                    

    {26}

    Note Pool Factors    {26}      100.0000000 %     100.0000000 %     100.0000000 %     93.7091423 %
                    

 

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III.

    CALCULATION OF STEP-DOWN AMOUNT:

    {27}

    Ending Pool Balance    {27}      $ 957,865,625    

    {28}

    Lesser of (Max of 16.50% of Ending Pool Balance or $5,000,010)    {28}    158,047,828      
   or Beg Note Balance          

    {29}

    Aggregate, Cumulative Amount paid to Class E Noteholders through prior period    {29}    0      

    {30}

    Less Specified Reserve Balance    {30}    (15,000,030 )    

    {31}

    Sum of {28}, {29}, and {30}    {31}    143,047,798      

    {32}

    25% of Ending Pool Balance    {32}    239,466,406      

    {33}

    Lesser of {31} or {32}    {33}        143,047,798    

    {34}

    Required Pro Forma Note Balance {27} - {33}    {34}          814,817,827

    {35}

    Beginning Note Balance    {35}        911,012,747    

    {36}

    Total Monthly Principal Amount    {36}        (18,126,144 )  

    {37}

    Pro-Forma Note Balance (Assuming 100% Pay-down)    {37}          892,886,603

    {38}

    Step-Down amount (Excess of Required Pro-forma over Pro-forma Note Balance)    {38}        $ 0

IV.

    CALCULATION OF PRINCIPAL DISTRIBUTABLE AMOUNT:       {39}     $ 18,126,144    

    {39}

    Total Monthly Principal Amounts       {40}       0    

    {40}

    Step-down Amount       {41}       $ 18,126,144

    {41}

    Principal Distributable Amount          

 

V.

  

CALCULATION OF INTEREST DISTRIBUTABLE AMOUNT:

          
    

Class

    Beginning
Note Balance		    Interest
Carryover		    Interest
Rate		     Days    Days Basis    Calculated
Interest

    {42}

   Class A - 1    $ 132,012,747    0    4.7800 %   32    Actual days/360    $ 560,907

    {43}

   Class A -2      309,000,000    0    5.1100 %   30    30/360      1,315,825

    {44}

   Class A -3      200,000,000    0    5.1100 %   30    30/360      851,667

    {45}

   Class B      75,000,000    0    5.2000 %   30    30/360      325,000

    {46}

   Class C      80,000,000    0    5.2800 %   30    30/360      352,000

    {47}

   Class D      50,000,000    0    5.4900 %   30    30/360      228,750

    {48}

   Class E      65,000,000    0    6.6200 %   30    30/360      358,583

 

VI.

  

RECONCILIATION OF COLLECTION ACCOUNT:

        
  Available Funds:         
  {49}    Collections on Receivables during period (net of Liquidation Proceeds and Fees)    {49}    $ 30,934,180   
  {50}    Liquidation Proceeds collected during period    {50}      214,775   
  {51}    Purchase Amounts or amounts from Servicer deposited in Collection Account    {51}      0   
  {52}    Investment Earnings - Collection Account    {52}      79,696   
  {53}    Investment Earnings - Transfer From Reserve Account    {53}      59,061   
  {54}    Collection of Supplemental Servicing - Extension Fees    {54}      1,783   
  {55}    Collection of Supplemental Servicing - Repo and Recovery Fees Advanced    {55}      46,591   
  {56}    Collection of Supplemental Servicing - Late Fees    {56}      36,955   
  {57}    Total Available Funds    {57}         31,373,041  
Distributions:         
  {58}    Base Servicing Fee    {58}      1,829,985   
  {59}    Repo and Recovery Fees - reimbursed to Servicer    {59}      46,591   
  {60}    Bank Service Charges - reimbursed to Servicer    {60}      2,426   
  {61}    Late Fees - reimbursed to Servicer    {61}      36,955   
  {62}    Extension Fees - reimbursed to Servicer    {62}      0   
  {63}    Agent fees    {63}      0   
  {64}    Backup Servicing Fees    {64}      3,000   
  {65}    Class A-1 Noteholders’ Interest Distributable Amount    {65}      560,907   
  {66}    Class A-2 Noteholders’ Interest Distributable Amount    {66}      1,315,825   
  {67}    Class A-3 Noteholders’ Interest Distributable Amount    {67}      851,667   
  {68}    Class A Noteholders’ Principal Parity Amount or Matured Principal Shortfall    {68}      0   
  {69}    Class B Noteholders’ Interest Distributable Amount    {69}      325,000   
  {70}    Class B Noteholders’ Principal Parity Amount or Matured Principal Shortfall    {70}      0   
  {71}    Class C Noteholders’ Interest Distributable Amount    {71}      352,000   
  {72}    Class C Noteholders’ Principal Parity Amount or Matured Principal Shortfall    {72}      0   
  {73}    Class D Noteholders’ Interest Distributable Amount    {73}      228,750   
  {74}    Class D Noteholders’ Principal Parity Amount or Matured Principal Shortfall    {74}      0   
  {75}    Class E Noteholders’ Interest Distributable Amount    {75}      358,583   
  {76}    Class E Noteholders’ Principal Parity Amount or Matured Principal Shortfall    {76}      0   
  {77}    Noteholders’ Principal Distributable Amount    {77}      18,126,144   
  {78}    Total distributions (Prior to Reserve Account Deposit)    {78}         24,037,833  
  {79}    Excess Available Funds    {79}         7,335,208  
  {80}    Reserve Account Withdrawal Amount    {80}         0  
  {81}    To the Reserve Account, the Reserve Account Deposit    {81}         0  
  {82}    To the Noteholders, the Accelerated Principal Amount (as calculated below)    {82}         (7,335,208 )
  {83}    To the Class E Noteholders, until Class E Balance is zero    {83}         0  
  {84}    To the Certificateholders, the aggregate amount remaining    {84}       $ 0  

 

2

VII.

  

CALCULATION OF PRINCIPAL PARITY AMOUNT:

         
    

Class

   

(X)

Cumulative
Note Balance

   

(Y)

Pool Balance

    (I)
Excess
of (X)
- (Y)		   

(II)

Available
Funds in
Waterfall

    Lesser
of (I)
or (II)

    {85}

  

Class A    

    $ 641,012,747    $ 957,865,625    $ 0    $ 26,725,685    $ 0

    {86}

  

Class B

      716,012,747      957,865,625      0      26,400,685      0

    {87}

  

Class C

      796,012,747      957,865,625      0      26,048,685      0

    {88}

  

Class D

      846,012,747      957,865,625      0      25,819,935      0

    {89}

  

Class E

      911,012,747      957,865,625      0      25,461,352      0
                    

    {90}

   Total                $ 0
 

**     Principal Parity Amount distributed as Noteholders Principal Distributable in first three months of Trust

   

 

VIII.    CALCULATION OF ACCELERATED PRINCIPAL AMOUNT:  
    {91}    Excess Available Funds    {91}    $ 7,335,208    
    {92}    Pro-Forma Note Balance (Calculated after Step-Down)    {92}      892,886,603    
     {93}    Required Pro Forma Note Balance    {93}      814,817,827    
    {94}    Excess of Pro-Forma Balance over Required Pro-Forma Balance    {94}      78,068,776    
    {95}    Lesser of Excess Available Funds or Excess of Pro-Forma Note Balance    {95}      $ 7,335,208  
IX.    RECONCILIATION OF RESERVE ACCOUNT:        Initial  
    {96}    Specified Reserve Balance         $ 15,000,030  
    {97}    Beginning of period Reserve Account balance    {97}      $ 15,000,030  
    {98}    The Reserve Account Deposit, from Collection Account    {98}      0    
    {99}    Investment Earnings    {99}      59,061    
    {100}    Investment Earnings - transferred to Collection Account Available Funds    {100}      (59,061 )  
    {101}    Reserve Account Withdrawal Amount    {101}      0    
    {102}    End of period Reserve Account balance    {102}      $ 15,000,030  
X.    CALCULATION OF TOTAL OVERCOLLATERALIZATION:  
    {103}    Aggregate Principal Balance    {103}    $ 957,865,625    
    {104}    End of Period Note Balance    {104}      885,551,395    
    {105}    Overcollateralization (Undercollateralization)    {105}      72,314,230    
    {106}    Overcollateralization %    {106}        7.55 %
XI.    MONTHLY PERIOD AND CUMULATIVE NUMBER OF RECEIVABLES CALCULATION:        
               Cumulative     Monthly  
{107}    Original Number of Receivables    {107}      59,185    
{108}    Beginning of period number of Receivables    {108}      0       58,515  
{109}    Number of Receivables becoming Liquidated Receivables during period    {109}      118       58  
{110}    Number of Receivables becoming Purchased Receivables during period    {110}      0       0  
{111}    Number of Receivables paid off during period    {111}      1,159       549  
                      
{112}    End of period number of Receivables    {112}      57,908       57,908  
XII.    STATISTICAL DATA: (CURRENT AND HISTORICAL):          
               Original     Prev. Month     Current  

{113}

    Weighted Average APR of the Receivables    {113}      17.10 %     17.12 %     17.12 %

{114}

    Weighted Average Remaining Term of the Receivables    {114}      64.00       62.40       61.47  

{115}

    Weighted Average Original Term of Receivables    {115}      65.00       65.00       65.00  

{116}

    Average Receivable Balance    {116}    $ 16,896     $ 16,679     $ 16,541  

{117}

    Net Losses in Period    {117}    $ 0     $ 105,826     $ 359,859  

{118}

    Aggregate Realized Losses    {118}    $ 0     $ 105,826     $ 465,685  

{119}

    Aggregate Realized Loss Percentage    {119}        0.010 %     0.046 %

{120}

    ABS Prepay Speed    {120}        1.4272       0.8469  

 

XIII.

  

DELINQUENCY:

           
   

Receivables with Scheduled Payment delinquent

         Units    Dollars    Percentage  
 

{121}

    31-60 days    {121}    1,514    $ 23,935,220    2.45 %
 

{122}

    61-90 days    {122}    268      4,491,962    0.46 %
 

{123}

    over 90 days    {123}    24      341,284    0.03 %
 

{124}

    Total    {124}    1,806    $ 28,768,466    2.94 %

XIV.

  

EXTENSIONS

           
 

{125}

    Principal Balance of Receivables extended during current period    {125}       $ 178,382   
                      
 

{126}

    Beginning of Period Aggregate Principal Balance    {126}         975,991,769   
                      
 

{127}

    Extension Rate {125} divided by {126}    {127}          0.02 %

 

By:      

/s/ Connie Coffey

Name:

  

Connie Coffey

Title:

  

Senior Vice President, Treasury Reporting

Date:

  

May 2, 2006

 

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