-----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, FyQS5i+IpAuKSdpNYh+pbxFsXEuAVmvyVY2QMA/IXZmGfiFlFiQKC1dPYx6WkCOC hAh6F33QN4a9fIN//2Twpw== 0001025365-98-000012.txt : 19980813 0001025365-98-000012.hdr.sgml : 19980813 ACCESSION NUMBER: 0001025365-98-000012 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980630 FILED AS OF DATE: 19980812 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: HONDA AUTO RECEIVABLES 1997-A GRANTOR TRUST CENTRAL INDEX KEY: 0001025365 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 330526079 STATE OF INCORPORATION: CA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 333-18095 FILM NUMBER: 98682848 BUSINESS ADDRESS: STREET 1: P O BOX 2295 STREET 2: 700 VAN NESS AVE CITY: TORRANCE STATE: CA ZIP: 90509-2295 BUSINESS PHONE: 3107814318 MAIL ADDRESS: STREET 1: P O BOX 2295 STREET 2: P O BOX 2295 CITY: TORRANCE STATE: CA ZIP: 90509-2295 FORMER COMPANY: FORMER CONFORMED NAME: HONDA AUTO RECEIVABLES 1996-A GRANTOR TRUST DATE OF NAME CHANGE: 19970723 10-Q 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [ X ] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended June 30, 1998 or [ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to Commission File Number 333-18095 Honda Auto Receivables 1997-A Grantor Trust (Exact name of registrant as specified in its charter) California 33-0526079 (State or other jurisdiction of incorporation) (I.R.S. Employer identification No.) 700 Van Ness Avenue Torrance, CA 90501 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (310)781-4100 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section13 or 15(d) of the securities Exchange Act. of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. X Yes No Item 5. Other Events On May 15, June 15 and July 15, the Principal and interest collected during the preceding calendar quarter, net of certain adjustments as provided for in the Pooling and Servicing Agreement dated as of July 1, 1997 (the "Agreement"), between American Honda Receivable Corporation, as Seller, American Honda Finance Corporation, as Servicer, and The Bank of Tokyo-Mitsubishi Trust Co., as Trustee (the "Trustee"), were distributed to holders ("Certificateholders") of certificates representing undivided fractional interests in Honda Auto Receivables 1997-A Grantor Trust. In accordance with the Agreement, the Servicer's Certificate, as defined in the Agreement, was furnished to the Trustee for the benefit of the Certificateholders and, as such, was distributed by the Trustee to the Certificateholders. A copy of the Servicer's Certificate is being filed as Exhibit 99 to this Quarterly Report on Form 10-Q. Item 6 (c). Exhibits and Reports on Form 8-K (a) Exhibit 99 Servicer's Certificate for The First Quarter of 1999 (b) Reports on Form 8K Reports Date The month of Apr. 1998 (May.15, 1998) The month of May. 1998 (Jun.15, 1998) The month of Jun. 1998 (Jul.15, 1998) 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. Honda Auto Receivables 1997-A Grantor Trust By: American Honda Finance Corporation, as Servicer (Registrant) By: /s/ John Weisickle John Weisickle, Vice President/ Finance EX-99 2
AMERICAN HONDA FINANCE CORPORATION QUARTERLY SERVICER REPORT -- Honda Auto Receivables 1997-A Grantor Trust April 1, through June 30, 1998 A. ORIGINAL DEAL PARAMETER INPUTS (A) Original Total Portfolio $1,080,049,608.67 (B) Class A Certificate Ownership Interest of the Trust 93.75% (C) Original Class A Certificate Balance $1,012,546,508.13 (D) Class A Certificate Rate 5.85% (E) Original Class B Certificate Balance $67,503,100.54 (F) Class B Certificate Rate 5.85% (G) Servicing Fee Rate 1.00% (H) Original Weighted Average Coupon (WAC) 7.59% (I) Original Weighted Average Remaining Term (WAM) 42.14 months (J) Number of Contracts 90,365 (K) Reserve Fund (i) Reserve Fund Initial Deposit Percentage 0.15% (ii) Reserve Fund Initial Deposit $1,620,074.41 (iii) Specified Reserve Fund Balance Percent 0.75% (iv) Specified Reserve Fund Balance $8,100,372.07 (v) Reserve Fund Floor Percent 1.50% (vi) Reserve Fund Floor Amount $16,200,744.13 (vii) Reserve Fund Floor Trigger Amount $324,014,882.40 (L) Original Yield Supplement Deposit $11,931,514.53 (M) Original Letter of Credit Amount $84,000,000.00 B. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS (A) Total Portfolio Outstanding $752,126,735.92 (B) Total Portfolio Pool Factor (C) Class A Certificate Balance $705,118,814.92 (D) Class A Principal Factor (E) Class B Certificate Balance $47,007,921.00 (F) Reserve Fund Balance $7,848,875.86 (G) Outstanding Interest Advance $1,173,156.05 (H) Payahead Account Balance $1,872,382.77 (I) Cumulative Net Losses for All Prior Periods 2965342.87 (J) Weighted Average Coupon of Remaining Portfolio (WAC) 7.66% (K) Weighted Average Remaining Term of Remaining Portfolio (WAM) 34.44 months (L) Number of Contracts 79,890 (M) Yield Supplement Balance $6,170,538.88 (N) Letter of Credit Amount $0.00 C. INPUTS FROM THE MAINFRAME (A) Precomputed Contracts Principal (i) Scheduled Principal Collections 17,773,738.97 (ii) Prepayments in Full 7,616,176.40 (iii) Prepayments in Full Due to Repurchases $0.00 (B) Precomputed Contracts Total Collections $28,686,549.18 (C) Simple Interest Contracts (i) Collected Principal (ii) Collected Interest $9,906,840.66 (iii) Repurchased Receivables Principal $0.00 (iv) Repurchased Receivables Interest $0.00 (D) Payment Advance for Precomputes (i) Reimbursement of Previous Advances $1,150,230.22 (ii) Current Advance Amount $1,180,953.60 (E) Interest Advance for Simple Interest - Net (If positive, Addi $0.00 (F) Payahead Account (i) Payments Applied $1,195,143.32 (ii) Additional Payaheads $1,340,249.27 (G) Weighted Average Coupon of Remaining Portfolio (WAC) 7.70% (H) Weighted Average Remaining Maturity of Remaining Portfolio (W 32.00 months (I) Remaining Number of Contracts 74,807 (J) Delinquent Contracts Contracts Amount (i) 31-60 Days Delinquent 559 0.75% $6,254,481 0.97% (ii) 61-90 Days Delinquent 79 0.11% 944,876 0.15% (iii) Over 90 Days Delinquent 25 0.03% 320,225 0.05% D. INPUTS DERIVED FROM OTHER SOURCES (A) Collection Account Investment Income -- Paid to Servicer 0.00 (B) Reserve Fund Investment Income -- Paid to Seller 103,918.10 (C) Investment Income on Yield Supplement Balance 81,221.67 (D) Aggregate Net Losses for Collection Period 960,177.00 (E) Liquidated Contracts (i) Gross Principal Balance of Liquidated Receivables 2,878,055.15 (ii) Net Liquidation Proceeds Received During the Collection 1,402,399.83 (iii) Recoveries on Previously Liquidated Contracts 515,478.32 (F) Number of Vehicles Repossessed During the Collection Period 179 EXHIBIT 99 AMERICAN HONDA FINANCE CORPORATION QUARTERLY SERVICER REPORT -- Honda Auto Receivables 1997-A Grantor Trust April 1, through June 30, 1998 I. COLLECTIONS (A) Principal Payments Received (Excluding Repurchases) (C(A)i+ii $102,297,658.40 (B) Interest Payments Received (C(B) - (C(A)i+ii+iii + C(ii) - D( 13,234,197.85 (C) Aggregate Net Liquidation Proceeds Received (D(D)ii+iii) 1,917,878.15 (D) Principal on Repurchased Contracts (C(A)iii + C(C)iii) 0.00 (E) Interest on Repurchased Contracts (C(C)iv) 0.00 (F) Total Collections (A+B+C+D+E) $117,449,734.40 (G) Net Simple Interest Advance Amount (C(E)) $0.00 (H) Total Collections and Advances (F+G) $117,449,734.40 (I) Yield Supplement Deposit $1,354,926.63 (J) Total Available Amount (H+I) $118,804,661.03 II. DISTRIBUTIONS (A) Principal Payments Received (Excluding Repurchases) (I(A)) $102,297,658.40 (B) Principal on Repurchased Contracts (I(D)) 0.00 (C) Gross Principal Balance of Liquidated Receivables (D(D)i) 2,878,055.15 (D) Total Principal Reduction (A+B+C) $105,175,713.55 (E) Class A Distributable Amount (i) Class A Quarterly Interest Payment (A(D)*B(C)) $9,828,802.90 (ii) Quarterly Principal to Class A (B(C)-(III(i)*A(B)) 98,602,231.45 (iii) Total Distributable Amount (i+ii) $108,431,034.35 (F) Class B Distributable Amount (i) Class B Quarterly Interest Payment (A(F)*B(E)) $655,253.52 (ii) Quarterly Principal to Class B (II(D)-(E)ii) 6,573,482.10 (iii) Total Distributable Amount (i+ii) $7,228,735.62 (G) Required Distributions (i) Servicing Fee (A(G)*B(A)) $1,792,146.40 (ii) Class A Amount (II(E)iii) 108,431,034.35 (iii) Deposit to Reserve Fund (If Positive (IV(H)-(A))) 251,496.20 (iv) Class B Amount (II(F)iii) 7,228,735.62 (v) Residual Release to Seller 1,101,248.46 (vi) Total Amount Distributed (i+ii+iii+iv+v) 118,804,661.03 (H) Amount of Draw from Reserve Fund (IV(B+C+D)) 0.00 (I) Sum of Draw from Reserve Fund and Total Available Amount (I(H 118,804,661.03 III. POOL BALANCES AND PORTFOLIO INFORMATION Beginning End of Period of Period (A) Balances and Principal Factors (i) Total Pool Balance $752,126,735.92 $646,951,022.37 (ii) Total Pool Factor 0.6963817 0.5990012 (iii) Class A Certificate Bala $705,118,814.92 $606,516,583.47 (iv) Class A Principal Factor 0.6963817 0.5990012 (v) Class B Certificate Bala $47,007,921.00 $40,434,438.90 (B) Portfolio Information (i) Weighted Average Coupon 7.66% 7.70% (ii) Weighted Average Remaini 34.44 months 32.00 months (iii) Remaining Number of Cont 79,890 74,807 (C) Outstanding Advance Amount $1,173,156.05 $1,203,879.43 (D) Outstanding Payahead Balance $1,872,382.77 $2,017,488.72 EXHIBIT 99 AMERICAN HONDA FINANCE CORPORATION QUARTERLY SERVICER REPORT -- Honda Auto Receivables 1997-A Grantor Trust April 1, through June 30, 1998 IV. RECONCILIATION OF RESERVE FUND (A) Beginning Reserve Fund Balance (B(F)) 7,848,875.86 (B) Draw for Class A Distributable Amount and Servicing Fee 0.00 (If Positive ((II(E)iii+(G)i)-I(H))) (C) Draw for Class B Distributable Amount and Servicing Fee 0.00 (If Positive ((II(E)iii + II(F)(iii) + (G)i) - (I(H)+IV(B))) (D) Amount Available for Deposit to the Reserve Fund 1,352,744.66 (If Positive (I(H) - (II(E)iii + II(F)(iii) + (G)i))) (E) Reserve Fund Balance Prior to Release (IV(A-B-C+D)) $9,201,620.52 (F) Reserve Fund Required Amount (Was Trigger or Floor Hit?) $8,100,372.07 (G) Reserve Fund Release to Seller $1,101,248.46 (If Positive (E-F)) (H) Ending Reserve Fund Balance (E-G) $8,100,372.07 V. YIELD SUPPLEMENT ACCOUNT DEPOSIT (A) Beginning Yield Supplement Account Balance $6,170,538.88 (B) Investment Earnings 81,221.67 (C) Additional Yield Supplement Amounts 0.00 (D) Yield Supplement Deposit Amount 1,354,926.63 (E) Ending Yield Supplement Account Balance 4,896,833.92 (F) Release Amount Due Seller $266,180.25 (G) Ending Yield Supplement Account Balance to be Invested 4,630,653.67 VI. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY (A) Aggregate Net Losses for Collection Period (V(B)i-ii-iii) $960,177.00 (B) Liquidated Contracts (i) Gross Principal Balance of Liquidated Receivables (D(D) $2,878,055.15 (ii) Net Liquidation Proceeds Received During the Collection 1,402,399.83 (iii) Recoveries on Previously Liquidated Contracts (D(D)iii) 515,478.32 (C) Cumulative Net Losses for all Periods (V(A)+B(H)) 3,925,519.87 (D) Delinquent and Repossessed Contracts Contracts Amount (i) 31-60 Days Delinquent 559 0.75% $6,254,481.00 (ii) 61-90 Days Delinquent 79 0.11% 944,876.00 (iii) Over 90 Days Delinquent 25 0.03% 320,225.00 (iv) Vehicles Repossessed Dur 179 0.22% 2,363,151.34 VII. TESTS FOR INCREASE IN RESERVE FUND BALANCE (A) Ratio of Net Losses to the Pool Balance as of Each Collection Period. (i) Second Preceeding Collection Period 0.52% (ii) Preceeding Collection Period 0.39% (iii) Current Collection Period 0.74% (iv) Three Month Average (Avg(i,ii,iii)) 0.55% (B) Ratio of Number of Contracts Delinquent 60 Days or More to the Outstanding Number of Receivables as of Each Collection Period. (i) Second Preceeding Collection Period 0.29% (ii) Preceeding Collection Period 0.29% (iii) Current Collection Period 0.31% (iv) Three Month Average (Avg(i,ii,iii)) 0.29% (C) Loss and Delinquency Trigger Indicator Trigger Was Not Hit I hereby certify that the servicing report provided is true and accurate to the best of my knowledge. By: /s/ John Weisickle John Weisickle, Vice President / Finance EXHIBIT 99
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