EX-99.1 2 m0848exhibit991.htm STATEMENT RELATING TO THE NOVEMBER 15, 2007 DISTRIBUTION Form 10-D

BMW Vehicle Lease Trust 2007-1


Collection Period Ending:

10/31/07

 

1 Month LIBOR:

4.706250%

Previous Payment Date:

11/02/07

 

Interest Rate Cap:

4.30%

Current Payment Date:

11/15/07

 

Accrued Interest Days (30/360):

13

 

 

 

Accrued Interest Days (act/360):

13


Balances

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Initial

Beginning of Period

End of Period

 

 

 

Securitization Value

1,369,888,441.01

1,369,888,441.01

1,324,139,905.76

 

 

 

Reserve Account

3,424,721.10

3,424,721.10

3,424,721.10

 

 

 

 

 

 

 

 

 

 

Notes

 

 

 

 

 

 

Class A-1 Notes

235,000,000.00

235,000,000.00

177,001,939.55

 

 

 

Class A-2a Notes

140,000,000.00

140,000,000.00

140,000,000.00

 

 

 

Class A-2b Notes

274,000,000.00

274,000,000.00

274,000,000.00

 

 

 

Class A-3a Notes

210,000,000.00

210,000,000.00

210,000,000.00

 

 

 

Class A-3b Notes

391,000,000.00

391,000,000.00

391,000,000.00

 

 

 

 

1,250,000,000.00

1,250,000,000.00

1,192,001,939.55

 

 

 

 

 

 

 

 

 

 

Overcollateralization

119,888,441.01

 

132,137,966.21

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Collection Period

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning Securitization Value

1,369,888,441.01

 

 

 

 

 

Principal Reduction Amount

45,748,535.25

 

 

 

 

 

Ending Securitization Value

1,324,139,905.76

 

 

 

 

 

 

 

 

 

 

 

 

First Priority Principal

 

 

 

 

 

 

Aggregate Outstanding Note Balance (Beginning of Period)

1,250,000,000.00

 

 

 

 

 

Aggregate Securitization Value (End of Period)

1,324,139,905.76

 

 

 

 

 

First Priority Principal Distribution Amount

-

 

 

 

 

 

 

 

 

 

 

 

 

Targeted Note Balance

1,176,876,898.35

 

 

 

 

 

Target Overcollateralization

10.750%

 

 

 

 

 

Step Down Overcollateralization

9.250%

 

 

 

 

 

Step Down Overcollateralization Date

08/17/09

 

 

 

 

 

Target Overcollateralization Percentage

10.750%

 

 

 

 

 

 

 

 

 

 

 

 

Calculation of Required 2007-A SUBI Collection Account Amount

 

 

 

 

 

 

Collections

 

 

 

 

 

 

Monthly Payments (net of advance reimbursements)

50,038,396.59

 

 

 

 

 

Sale Proceeds

10,089,135.96

 

 

 

 

 

Reallocation Payments

 

 

 

 

 

 

Recovery Proceeds

3,626.81

 

 

 

 

 

Termination Proceeds

162,774.99

 

 

 

 

 

Total Collections

60,293,934.35

 

 

 

 

 

Servicer Advances

2,182,299.04

 

 

 

 

 

Payments From Cap Counterparty

0.00

 

 

 

 

 

Cap Termination Payments

0.00

 

 

 

 

 

Repurchases

0.00

 

 

 

 

 

Total Available Funds deposited to

62,476,233.39

 

 

 

 

 

Series 2007-A SUBI Collection Account Amount

 

 

 

 

 

 

 

 

 

 

 

 

 

Collection Account

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits to Series 2007-A SUBI Collection Account

62,476,233.39

 

 

 

 

 

Withdrawals from 2007-A SUBI Collection Account

 

 

 

 

 

 

Advance Reimbursement

0.00

 

 

 

 

 

Servicing Fees

2,283,147.40

 

 

 

 

 

Note Interest Distribution Account Deposit

2,195,025.53

 

 

 

 

 

Priority Principal

0.00

 

 

 

 

 

Reserve Fund Deposit

0.00

 

 

 

 

 

Regular Principal Distributable Amount

57,998,060.45

 

 

 

 

 

Payments to Transferor

0.00

 

 

 

 

 

Total Distributions from 2007-A SUBI Collection Account

62,476,233.39

 

 

 

 

 

 

 

 

 

 

 

 

Servicer Advance Amounts

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning Period Unreimbursed Servicer Advance

0.00

 

 

 

 

 

Current Period Monthly Payment Advance

2,182,299.04

 

 

 

 

 

Current Period Sales Proceeds Advance

0.00

 

 

 

 

 

Current Reimbursement of Previous Servicer Advance

0.00

 

 

 

 

 

Ending Period Unreimbursed Previous Servicer Advances

2,182,299.04

 

 

 

 

 

 

 

 

 

 

 

 

Note Distribution Account

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount Deposited from the Collection Account

60,193,085.99

 

 

 

 

 

Amount Deposited from the Reserve Account

0.00

 

 

 

 

 

Amount Paid to Noteholders

60,193,085.99

 

 

 

 

 

 

 

 

 

 

 

 





Collection Period Ending:

10/31/07

 

1 Month LIBOR:

4.706250%

Previous Payment Date:

11/02/07

 

Interest Rate Cap:

4.30%

Current Payment Date:

11/15/07

 

Accrued Interest Days (30/360):

13

 

 

 

Accrued Interest Days (act/360):

13


Distributions

 

 

 

 

 

 

 

 

 

 

 

 

 

Priority Principal

 

 

 

 

 

 

Aggregate Outstanding Note Principal

1,250,000,000.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Monthly Principal Distributable Amount

First Priority Principal

Current Payment

Total Payment

Ending Balance

Per $1,000

Factor

Class A-1 Notes

-

57,998,060.45

57,998,060.45

177,001,939.55

247

0.75

Class A-2a Notes

-

-

-

140,000,000.00

-

1.00

Class A-2b Notes

-

-

-

274,000,000.00

-

1.00

Class A-3a Notes

-

-

-

210,000,000.00

-

1.00

Class A-3b Notes

-

-

-

391,000,000.00

-

1.00

 

-

57,998,060.45

57,998,060.45

1,192,001,939.55

247

 

 

 

 

 

 

 

 

Interest Distributable Amount

Floating Rate Index (1ML)

Spread

Interest Rate

Current Payment

Per $1,000

 

Class A-1 Notes

 

 

5.061600%

429,533.00

1.83

 

Class A-2a Notes

 

 

4.640000%

234,577.78

1.68

 

Class A-2b Notes

4.706250%

0.190000%

4.896250%

484,456.74

1.77

 

Class A-3a Notes

 

 

4.590000%

348,075.00

1.66

 

Class A-3b Notes

4.706250%

0.240000%

4.946250%

698,383.02

1.79

 

 

 

 

 

2,195,025.53

8.72

 

 

 

 

 

 

 

 

Carryover Shortfalls

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior Period Carryover

Current Payment

Per $1,000

 

 

 

Class A-1 Interest Carryover Shortfall

-

-

-

 

 

 

Class A-2a Interest Carryover Shortfall

-

-

-

 

 

 

Class A-2b Interest Carryover Shortfall

-

-

-

 

 

 

Class A-3a Interest Carryover Shortfall

-

-

-

 

 

 

Class A-3b Interest Carryover Shortfall

-

-

-

 

 

 

 

 

 

 

 

 

 

Reserve Account

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning Period Required Amount

3,424,721.10

 

 

 

 

 

Beginning Period Amount

3,424,721.10

 

 

 

 

 

Net Investment Earnings (memo)

-

 

 

 

 

 

Current Period Deposit

-

 

 

 

 

 

Reserve Fund Draw Amount

-

 

 

 

 

 

Ending Period Required Amount

3,424,721.10

 

 

 

 

 

Ending Period Amount

3,424,721.10

 

 

 

 

 

 

 

 

 

 

 

 

Pool Statistics

 

 

 

 

 

 

 

Initial

End of Period

 

 

 

 

Number of Contracts

38,331

37,935

 

 

 

 

Remaining Term

24

22

 

 

 

 

Original Term

36

36

 

 

 

 

Seasoning

12

14

 

 

 

 

 

 

 

 

 

 

 

 

Units

Securitization Value

 

 

 

 

Early Terminations

19

758,653.06

 

 

 

 

Scheduled Terminations

1

28,042.44

 

 

 

 

 

 

 

 

 

 

 

 

Beginning

Current Period

Cumulative

 

 

 

Credit Losses

-

3,626.81

3,626.81

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residual Value Losses

Beginning

Current Period

Cumulative

 

 

 

Net Sale Proceeds

-

-

-

 

 

 

Residual Values

-

-

-

 

 

 

Residual Value Losses

-

-

-

 

 

 

 

 

 

 

 

 

 

Delinquencies

Units

Securitization Value

 

 

 

 

31-60 Days Delinquent

271

10,405,106.00

 

 

 

 

61-90 Days Delinquent

58

2,552,358.00

 

 

 

 

Over 90 Days Delinquent

1

63,959.00