EX-20.1 2 a15411exv20w1.htm EXHIBIT 20.1 exv20w1
 

Hyundai Auto Receivables Trust 2005-A
Monthly Servicing Report
 

     
Collection Period
  November 2005
Distribution Date
  12/15/05
Transaction Month
  5
30/360 Days
  30
Actual/360 Days
  30
I. ORIGINAL DEAL PARAMETERS
     
Cut off Date:
  May 31, 2005
Closing Date:
     July 8, 2005
                                 
    Dollars     Units     WAC     WAM  
Original Pool Balance:
   $ 855,479,000.03       52,391       7.170 %     59.43  
                                 
    Dollar Amount     % of Pool     Coupon Rate     Final Payment Date  
Class A-1 Notes
   $ 169,000,000.00       19.755 %     3.51438 %   July 17, 2006
Class A-2 Notes
   $ 230,000,000.00       26.886 %     3.88000 %   June 16, 2008
Class A-3 Notes
   $ 171,000,000.00       19.989 %     3.98000 %   November 16, 2009
Class A-4 Notes
   $ 110,300,000.00       12.893 %     4.18000 %   February 15, 2012
Class B Notes
   $ 31,900,000.00       3.729 %     4.20000 %   February 15, 2012
Class C Notes
   $ 27,900,000.00       3.261 %     4.22000 %   February 15, 2012
Class D Notes
   $ 33,900,000.00       3.963 %     4.45000 %   February 15, 2012
                     
Total Securities
   $ 774,000,000.00       90.476 %                
 
                                
Overcollateralization
   $ 23,971,587.81       3.004 %                
YSOA
   $ 57,507,412.22       6.722 %                
                     
Total Original Pool Balance
   $ 855,479,000.03       100.20 %                
     
 
II. POOL BALANCE AND PORTFOLIO INFORMATION
                                                 
            Beginning of Period     Ending of Period     Change  
            Balance     Pool Factor     Balance     Pool Factor          
     Class A-1 Notes
           $ 53,194,284.06       0.3147591     $ 31,922,923.18       0.1888930     $ 21,271,360.88  
     Class A-2 Notes
           $ 230,000,000.00       1.0000000     $ 230,000,000.00       1.0000000     $ —  
     Class A-3 Notes
           $ 171,000,000.00       1.0000000     $ 171,000,000.00       1.0000000     $ —  
     Class A-4 Notes
           $ 110,300,000.00       1.0000000     $ 110,300,000.00       1.0000000     $ —  
     Class B Notes
           $ 31,900,000.00       1.0000000     $ 31,900,000.00       1.0000000     $ —  
     Class C Notes
           $ 27,900,000.00       1.0000000     $ 27,900,000.00       1.0000000     $ —  
     Class D Notes
           $ 33,900,000.00       1.0000000     $ 33,900,000.00       1.0000000     $ —  
     
Total Securities
           $ 658,194,284.06       0.8503802     $ 636,922,923.18       0.8228978     $ 21,271,360.88  
 
                                                
Weighted Avg. Coupon (WAC)     7.10 %             7.08 %                
Weighted Avg. Remaining Maturity (WARM)     54.69               53.76                  
Pool Receivables Balance   $ 747,777,117.18             $ 726,650,236.32                  
Remaining Number of Receivables     49,287               48,617                  
 
                                                
Adjusted Pool Balance   $ 697,565,175.03             $ 678,195,498.61                  
     
 
III. COLLECTIONS
         
Principal:
        
     Principal Collections
   $ 19,733,962.69  
     Repurchased Contract Proceeds Related to Principal
   $ —  
     Liquidation Proceeds
   $ —  
     Recoveries from Prior Month Charge-Offs
   $ 138,695.67  
 
      
Total Principal Collections
   $ 19,872,658.36  
 
        
Interest:
        
     Interest Collections
   $ 4,195,436.71  
     Late Fees & Other Charges
   $ 64,943.69  
     Interest on Repurchase Principal
   $ —  
 
      
Total Interest Collections
   $ 4,260,380.40  
 
        
Collection Account Interest
   $ 67,688.01  
Reserve Account Interest
   $ 12,706.69  
 
        
Total Collections
   $ 24,213,433.46  

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Hyundai Auto Receivables Trust 2005-A
Monthly Servicing Report
 

     
Collection Period
  November 2005
Distribution Date
  12/15/05
Transaction Month
  5
30/360 Days
  30
Actual/360 Days
  30
IV. DISTRIBUTIONS
         
     Total Collections
   $ 24,213,433.46  
     Reserve Account Release
   $ —  
     Reserve Account Draw
   $ —  
 
      
Total Available for Distribution
   $ 24,213,433.46  
                         
    Amount Due     Amount Paid          
1. Servicing Fee @1.00%:
                        
     Servicing Fee Due
   $ 623,147.60     $ 623,147.60     $ 623,147.60  
 
                      
     Collection Account Interest
                   $ 67,688.01  
     Late Fees & Other Charges
                   $ 64,943.69  
 
                      
Total due to Servicer
                   $ 755,779.30  
 
                        
2. Class A Noteholders Interest:
                        
     Class A-1 Notes
   $ 155,787.44     $ 155,787.44          
     Class A-2 Notes
   $ 743,666.67     $ 743,666.67          
     Class A-3 Notes
   $ 567,150.00     $ 567,150.00          
     Class A-4 Notes
   $ 384,211.67     $ 384,211.67          
 
                    
 
                        
          Total Class A interest:
   $ 1,850,815.78     $ 1,850,815.78     $ 1,850,815.78  
 
                      
 
                        
3. First Priority Principal Distribution:
   $ —     $ —     $ —  
 
                      
 
                        
4. Class B Noteholders Interest:
   $ 111,650.00     $ 111,650.00     $ 111,650.00  
 
                      
 
                        
5. Second Priority Principal Distribution:
   $ —     $ —     $ —  
 
                      
 
                        
6. Class C Noteholders Interest:
   $ 98,115.00     $ 98,115.00     $ 98,115.00  
 
                      
 
                        
7. Third Priority Principal Distribution:
   $ —     $ —     $ —  
 
                      
 
                        
8. Class D Noteholders Interest:
   $ 125,712.50     $ 125,712.50     $ 125,712.50  
 
                      
 
                        
          Available Funds Remaining:
                   $ 21,271,360.88  
 
                        
9. Regular Principal Distribution Amount:
                   $ 21,271,360.88  
 
                      
                         
    Distributable Amount     Paid Amount          
     Class A-1 Notes
           $ 21,271,360.88          
     Class A-2 Notes
           $ —          
     Class A-3 Notes
           $ —          
     Class A-4 Notes
           $ —          
 
                      
          Class A Notes Total:
   $ 119,677,352.02     $ 21,271,360.88          
          Class B Notes Total:
   $ 31,900,000.00     $ —          
          Class C Notes Total:
   $ 27,900,000.00     $ —          
          Class D Notes Total:
   $ 5,602,229.03     $ —          
 
                      
               Total Noteholders Principal
           $ 21,271,360.88          
 
                        
10. Available Amounts Remaining to reserve account
                     0.00  
 
                      
 
                        
11. Trust Fees and Expenses
                     0.00  
 
                      
 
                        
12. Remaining Available Collections Released to Certificateholder
                     0.00  
 
                      
     
 
V. YIELD SUPPLEMENT OVERCOLLATERALIZATION AMOUNT (YSOA)
         
Beginning Period Required Amount
   $ 50,211,942.15  
Beginning Period Amount
   $ 50,211,942.15  
Current Period Amortization
   $ 1,757,204.44  
Ending Period Required Amount
   $ 48,454,737.71  
Ending Period Amount
   $ 48,454,737.71  
Next Distribution Date Required Amount
   $ 46,724,723.14  

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Hyundai Auto Receivables Trust 2005-A
Monthly Servicing Report
 

     
Collection Period
  November 2005
Distribution Date
  12/15/05
Transaction Month
  5
30/360 Days
  30
Actual/360 Days
  30
VI. RESERVE ACCOUNT
         
Beginning Period Required Amount
   $ 3,989,857.94  
Beginning Period Amount
   $ 3,989,857.94  
Current Period Release to Collection Account
   $ —  
Current Period Deposit
   $ —  
Current Period Release to Depositor
   $ —  
Ending Period Required Amount (0.5% of APB of cut-off date)
   $ 3,989,857.94  
Ending Period Amount
   $ 3,989,857.94  
     
 
VII. OVERCOLLATERALIZATION
                         
    Beginning     Ending     Target  
Overcollateralization Amount
   $ 39,370,890.97     $ 41,272,575.43     $ 46,874,804.46  
Overcollateralization as a % of Original Pool (unadjusted)
     4.60 %     4.82 %     5.48 %
Overcollateralization as a % of Current Pool (unadjusted)
     5.27 %     5.68 %     6.45 %
     
 
VIII. DELINQUENCY AND NET LOSS ACTIVITY
                                 
    Units Percent     Units     Dollars Percent     Dollar Amount  
     Current
     97.94 %     47,617       98.04 %   $ 712,391,312.97  
     30 - 59 Days
     1.56 %     759       1.62 %   $ 11,742,514.06  
     60 - 89 Days
     0.36 %     177       0.34 %   $ 2,469,713.11  
     90 + Days
     0.13 %     64       0.01 %   $ 46,696.18  
     
 
             48,617             $ 726,650,236.32  
 
                                
Total
                                
Delinquent Receivables 60 + days past due
     0.50 %     241       0.35 %   $ 2,516,409.29  
Delinquency Ratio 60+ for 1st Preceding Collection Period
     0.42 %     209       0.40 %   $ 2,997,465.58  
Delinquency Ratio 60+ for 2nd Preceding Collection Period
     0.40 %     199       0.35 %   $ 2,727,740.82  
 
                            
Three-Month Average Delinquency Ratio
     0.44 %             0.37 %        
 
                                
Repossession in Current Period
                             93  
Repossession Inventory
                             129  
 
                                
Charge-Offs
                                
     Gross Principal of Charge-Off for Current Period
                           $ 1,392,918.17  
     Recoveries for Current Period
                           $ —  
     Recoveries on Previous Charge-off Contracts
                           $ (138,695.67 )
 
                              
     Net Charge-offs for Current Period
                           $ 1,254,222.50  
 
                                
     Average Pool Balance for Current Period
                           $ 737,213,676.75  
 
                                
Net Loss Ratio
                             2.04 %
Net Loss Ratio for 1st Preceding Collection Period
                             1.32 %
Net Loss Ratio for 2nd Preceding Collection Period
                             1.61 %
 
                              
Three-Month Average Net Loss Ratio for Current Period
                             1.66 %
 
                                
Cumulative Net Losses for All Periods
                           $ 3,599,218.92  
Cumulative Net Losses as a % of Initial Pool Balance
                             0.42 %

     The undersigned hereby represents and warrants that the foregoing is a true and accurate accounting with respect to the outstandings as of November 30, 2005, in accordance with the Sale and Servicing Agreement dated as of July 8, 2005, and that all the representations and warranties set forth in Section 3.01 and made by HMFC, as Seller, are hereby restated and reaffirmed.
         
 
      HYUNDAI MOTOR FINANCE COMPANY, AS SERVICER
 
        
 
        
 
  By:   /s/ Min Sok Randy Park
 
       
 
  Name:
Title:
Date: 		  Min Sok Randy Park
Director, Finance (acting as Vice President, Finance)
December 9, 2005

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SERVICER’S CERTIFICATE
Collection Period:            November 2005
Distribution Date:            December 15, 2005
Hyundai Auto Receivables Trust 2005-A
     The undersigned certifies that he is an officer of Hyundai Motor Finance Company, a California corporation (“HMFC”) and that as such he is duly authorized to execute and deliver this certificate on behalf of HMFC pursuant to Section 4.09 of the Sale and Servicing Agreement dated July 8, 2005 among Hyundai Auto Receivables Trust 2005-A, as Issuer, Hyundai ABS Funding Corporation, as Depositor, HMFC, as Seller and Servicer and Citibank, N.A., as Indenture Trustee (the “Sale and Servicing Agreement”) (all capitalized terms used herein without definition have the respective meanings specified in the Sale and Servicing Agreement) and further certifies that:
     1. The Servicer’s report for the period from November 1, 2005 to November 30, 2005 attached to this certificate is complete and accurate and contains all information required by Section 4.09 of the Sale and Servicing Agreement; and
     2. As of November 30, 2005, no Servicer Termination Events have occurred.
     IN WITNESS WHEREOF, I have fixed hereunto my signature this 9th day of December 2005.
         
  HYUNDAI MOTOR FINANCE COMPANY,
as Servicer
 		  
  By:   /s/ Min Sok Randy Park    
    Name:   Min Sok Randy Park   
    Title:   Acting Vice President, Finance