EX-20 2 dex20.htm SERVICER'S CERTIFICATE Servicer's Certificate

Exhibit 20

 

SERVICER’S CERTIFICATE

AMERICAN HONDA FINANCE CORPORATION

MONTHLY SERVICER REPORT — Honda Auto Receivables 2004-3 Owner Trust

11/1/2004 through 11/30/2004

 

I. ORIGINAL DEAL PARAMETER INPUTS

         

(A) Total Portfolio Balance

    $ 1,562,279,257.07  

(B) Total Securities Balance

    $ 1,562,279,257.07  

(C) Class A-1 Notes

         

(i) Class A-1 Notes Balance

    $ 370,000,000.00  

(ii) Class A-1 Notes Percentage (C(i)/B)

      23.68 %

(iii) Class A-1 Notes Rate

      2.09250 %

(iv) Class A-1 Notes Accrual Basis

      Actual/360  

(D) Class A-2 Notes

         

(i) Class A-2 Notes Balance

    $ 420,000,000.00  

(ii) Class A-2 Notes Percentage (D(i)/B)

      26.88 %

(iii) Class A-2 Notes Rate

      2.480 %

(iv) Class A-2 Notes Accrual Basis

      30/360  

(E) Class A-3 Notes

         

(i) Class A-3 Notes Balance

    $ 475,000,000.00  

(ii) Class A-3 Notes Percentage (E(i)/B)

      30.40 %

(iii) Class A-3 Notes Rate

      2.910 %

(iv) Class A-3 Notes Accrual Basis

      30/360  

(F) Class A-4 Notes

         

(i) Class A-4 Notes Balance

    $ 246,505,000.00  

(ii) Class A-4 Notes Percentage (F(i)/B)

      15.78 %

(iii) Class A-4 Notes Rate

      3.280 %

(iv) Class A-4 Notes Accrual Basis

      30/360  

(G) Certificates

         

(i) Certificates Balance

    $ 50,774,257.07  

(ii) Certificates Percentage (G(i)/B)

      3.25 %

(iii) Certificates Rate

      3.280 %

(iv) Certificates Accrual Basis

      30/360  

(H) Servicing Fee Rate

      1.00 %

(I) Portfolio Summary

         

(i) Weighted Average Coupon (WAC)

      5.27 %

(ii) Weighted Average Original Maturity (WAOM)

      58.65 months  

(iii) Weighted Average Remaining Maturity (WAM)

      51.28 months  

(iv) Number of Receivables

      103,811  

(J) Reserve Fund

         

(i) Reserve Account Initial Deposit Percentage

      0.50 %

(ii) Reserve Account Initial Deposit

    $ 7,811,396.29  

(iii) Specified Reserve Account Percentage

      0.50 %

(iv) Specified Reserve Account Balance

    $ 7,811,396.29  

(K) Yield Supplement Account Deposit

    $ 6,413,601.55  

II. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS

         

(A) Total Portfolio Balance

    $ 1,515,633,531.54  

(B) Total Securities Balance

    $ 1,515,633,531.54  

(C) Cumulative Note and Certificate Pool Factor

      0.9701425  

(D) Class A-1 Notes

         

(i) Class A-1 Notes Balance

    $ 323,354,274.47  

(ii) Class A-1 Notes Pool Factor

      0.8739305  

(iii) Class A-1 Notes Interest Carryover Shortfall

    $ 0.00  

(iv) Class A-1 Notes Principal Carryover Shortfall

    $ 0.00  

(E) Class A-2 Notes

         

(i) Class A-2 Notes Balance

    $ 420,000,000.00  

(ii) Class A-2 Notes Pool Factor

      1.0000000  

(iii) Class A-2 Notes Interest Carryover Shortfall

    $ 0.00  

(iv) Class A-2 Notes Principal Carryover Shortfall

    $ 0.00  

(F) Class A-3 Notes

         

(i) Class A-3 Notes Balance

    $ 475,000,000.00  

(ii) Class A-3 Notes Pool Factor

      1.0000000  

(iii) Class A-3 Notes Interest Carryover Shortfall

    $ 0.00  

(iv) Class A-3 Notes Principal Carryover Shortfall

    $ 0.00  

(G) Class A-4 Notes

         

(i) Class A-4 Notes Balance

    $ 246,505,000.00  

(ii) Class A-4 Notes Pool Factor

      1.0000000  

(iii) Class A-4 Notes Interest Carryover Shortfall

    $ 0.00  

(iv) Class A-4 Notes Principal Carryover Shortfall

    $ 0.00  

(H) Certificates

         

(i) Certificates Balance

    $ 50,774,257.07  

(ii) Certificates Pool Factor

      1.0000000  

(iii) Certificates Interest Carryover Shortfall

    $ 0.00  

(iv) Certificates Principal Carryover Shortfall

    $ 0.00  

(I) Servicing Fee

         

(i) Servicing Fee Shortfall

    $ 0.00  

(J) End of Prior Month Account Balances

         

(i) Reserve Account

    $ 7,811,396.29  

(ii) Yield Supplement Account

    $ 6,133,587.68  

(iii) Payahead Account

    $ 0.00  

(iv) Advances Outstanding

    $ 641,574.97  

(K) Portfolio Summary as of End of Prior Month

         

(i) Weighted Average Coupon (WAC)

      5.26 %

(ii) Weighted Average Remaining Maturity (WAM)

      50.32 months  

(iii) Number of Receivables

      102,607  

(L) Note and Certificate Principal Distribution Percentages

         

(i) Note Percentage

      100.00 %

(ii) Certificate Percentage

      0.00 %

III. MONTHLY INPUTS FROM THE MAINFRAME

         

(A) Precomputed Contracts Principal

         

(i) Scheduled Principal Collections

    $ 0.00  

(ii) Prepayments in Full

    $ 0.00  

(iii) Prepayments in Full due to Repurchases

    $ 0.00  

(B) Precomputed Contracts Collections

    $ 0.00  

(C) Precomputed Receivables Interest (B-A((i)+(ii)+(iii)))

    $ 0.00  

(D) Simple Interest Receivables Principal

         

(i) Principal Collections

    $ 32,678,543.36  

(ii) Prepayments in Full

    $ 15,032,992.45  

(iii) Repurchased Receivables Related to Principal

    $ 0.00  

 

page 1

AMERICAN HONDA FINANCE CORPORATION

MONTHLY SERVICER REPORT — Honda Auto Receivables 2004-3 Owner Trust

11/1/2004 through 11/30/2004

 

(E) Simple Interest Receivables Interest

                                 

(i) Simple Interest Collections

                            $ 6,694,874.01  

(F) Payment Advance for Precomputes

                                 

(i) Reimbursement of Previous Advances

                            $ 0.00  

(ii) Current Advance Amount

                            $ 0.00  

(G) Interest Advance for simple Interest - Net

                            $ 77,536.70  

(H) Payahead Account

                                 

(i) Payments Applied

                            $ 0.00  

(ii) Additional Payaheads

                            $ 0.00  

(I) Portfolio Summary as of End of Month

                                 

(i) Weighted Average Coupon (WAC)

                              5.25 %

(ii) Weighted Average Remaining Maturity (WAM)

                              49.47 months  

(iii) Remaining Number of Receivables

                              101,286  
     # Units
     Dollar Amount
        

(J) Delinquent Receivables

                                 

(i) 31-60 Days Delinquent

    1,781    1.76 %   $ 24,107,205.37    1.64 %        

(ii) 61-90 Days Delinquent

    14    0.01 %   $ 176,415.06    0.01 %        

(ii) 91 Days or More Delinquent

    1    0.00 %   $ 25,712.62    0.00 %        

(K) Vehicles Repossessed During Collection Period

    26    0.03 %   $ 446,071.79    0.03 %        

(L) Total Repossessed Vehicles in Inventory

    28    0.03 %   $ 469,894.03    0.03 %        

IV. INPUTS DERIVED FROM OTHER SOURCES

                                 

(A) Collection Account Investment Income

                            $ 0.00  

(B) Reserve Account Investment Income

                            $ 11,515.72  

(C) Yield Supplement Account Investment Income

                            $ 9,270.29  

(D) Trust Fees Expense

                            $ 5,500.00  

(E) Aggregate Net Losses for Collection Period

                              16,665.90  

(F) Liquidated Receivables Information

                                 

(i) Gross Principal Balance on Liquidated Receivables

                              43,840.28  

(ii) Liquidation Proceeds

                              23,507.90  

(ii) Recoveries from Prior Month Charge Offs

                              3,666.48  

(G) Days in Accrual Period

                              32  

(H) Deal age

                              2  
MONTHLY COLLECTIONS  

V. INTEREST COLLECTIONS

                                 

(A) Total Interest Collections (III(C)+E(i)-F(i)+F(ii)+G)

                            $ 6,772,410.71  

VI. PRINCIPAL COLLECTIONS

                                 

(A) Principal Payments Received (III(A((i)+(ii))+(D(i)+(ii)))

                            $ 47,711,535.81  

(B) Liquidation Proceeds (IV(F(i)))

                              23,507.90  

(C) Repurchased Loan Proceeds Related to Principal (III(A(iii)+D(iii)))

                              0.00  

(D) Recoveries from Prior Month Charge Offs (IV(F(ii)))

                              3,666.48  
                            

(E) Total Principal Collections (A+B+C+D)

                            $ 47,738,710.19  

VII. TOTAL INTEREST AND PRINCIPAL COLLECTIONS (V(A)+VI(E))

                            $ 54,511,120.90  

VIII. YIELD SUPPLEMENT DEPOSIT

                            $ 281,589.29  

IX. TOTAL AVAILABLE AMOUNT (VII+VIII)

                            $ 54,792,710.19  
MONTHLY DISTRIBUTIONS  

X. FEE DISTRIBUTIONS

                                 

(A) Servicing Fee

                                 

(i) Servicing Fee Due (I(H)/12)(II(B))+(II(H)(i))

                            $ 1,263,027.94  

(ii) Servicing Fee Paid

                              1,263,027.94  
                            

(iii) Servicing Fee Shortfall

                            $ 0.00  

(B) Reserve Account Investment Income (IV(B))

                            $ 11,515.72  

(C) Yield Supplement Account Investment Income (IV(C))

                            $ 9,270.29  

(D) Trust Fees Expense (IV(D))

                            $ 5,500.00  

XI. DISTRIBUTIONS TO NOTEHOLDERS

                                 

(A) Interest

                                 

(i) Class A-1 Notes

                                 

(a) Class A-1 Notes Interest Due

                            $ 601,438.95  

(b) Class A-1 Notes Interest Paid

                              601,438.95  
                            

(c) Class A-1 Notes Interest Shortfall

                            $ 0.00  

(ii) Class A-2 Notes

                                 

(a) Class A-2 Notes Interest Due

                            $ 868,000.00  

(b) Class A-2 Notes Interest Paid

                              868,000.00  
                            

(c) Class A-2 Notes Interest Shortfall

                            $ 0.00  

(iii) Class A-3 Notes

                                 

(a) Class A-3 Notes Interest Due

                            $ 1,151,875.00  

(b) Class A-3 Notes Interest Paid

                              1,151,875.00  
                            

(c) Class A-3 Notes Interest Shortfall

                            $ 0.00  

(iv) Class A-4 Notes

                                 

(a) Class A-4 Notes Interest Due

                            $ 673,780.33  

(b) Class A-4 Notes Interest Paid

                              673,780.33  
                            

(c) Class A-4 Notes Interest Shortfall

                            $ 0.00  

(v) Total Note Interest

                                 

(a) Total Note Interest Due

                            $ 3,295,094.28  

(b) Total Note Interest Paid

                              3,295,094.28  
                            

(c) Total Note Interest Shortfall

                            $ 0.00  

(d) Reserve Account Withdrawal for Note Interest

                            $ 0.00  

Amount available for distributions after Fees & Interest (IX-(X(A)(ii)-(D))-XI(A)(v)(b))

                            $ 50,229,087.97  

(B) Principal

                                 

(i) Noteholders’ Principal Distribution Amounts

                            $ 47,755,376.09  

(ii) Class A-1 Notes Principal

                                 

(a) Class A-1 Notes Principal Due

                            $ 47,755,376.09  

(b) Class A-1 Notes Principal Paid

                              47,755,376.09  
                            

(c) Class A-1 Notes Principal Shortfall

                            $ 0.00  

(d) Reserve Account Withdrawal

                            $ 0.00  

(iii) Class A-2 Notes Principal

                                 

(a) Class A-2 Notes Principal Due

                            $ 0.00  

(b) Class A-2 Notes Principal Paid

                              0.00  
                            

 

page 2

AMERICAN HONDA FINANCE CORPORATION

MONTHLY SERVICER REPORT — Honda Auto Receivables 2004-3 Owner Trust

11/1/2004 through 11/30/2004

 

(c) Class A-2 Notes Principal Shortfall

            $ 0.00  

(d) Reserve Account Withdrawal

            $ 0.00  

(iv) Class A-3 Notes Principal

                 

(a) Class A-3 Notes Principal Due

            $ 0.00  

(b) Class A-3 Notes Principal Paid

              0.00  
            

(c) Class A-3 Notes Principal Shortfall

            $ 0.00  

(d) Reserve Account Withdrawal

            $ 0.00  

(v) Class A-4 Notes Principal

                 

(a) Class A-4 Notes Principal Due

            $ 0.00  

(b) Class A-4 Notes Principal Paid

              0.00  
            

(c) Class A-4 Notes Principal Shortfall

            $ 0.00  

(d) Reserve Account Withdrawal

            $ 0.00  

(vi) Total Notes Principal

                 

(a) Total Notes Principal Due

              47,755,376.09  

(b) Total Notes Principal Paid

              47,755,376.09  
            

(c) Total Notes Principal Shortfall

            $ 0.00  

(d) Reserve Account Withdrawal

            $ 0.00  

XII. RESERVE FUND DEPOSIT

                 

Amount available for deposit into reserve account

            $ 2,473,711.88  

Amount deposited into reserve account

              0.00  

Excess Amount Released from Reserve Account

              0.00  
            

Excess funds available to Certificateholders

              2,473,711.88  
            

XIII. DISTRIBUTIONS TO CERTIFICATEHOLDERS

                 

(A) Interest

                 

(i) Certificate Monthly Interest Due

            $ 138,782.97  

(ii) Certificate Interest Shortfall Beginning Balance

            $ 0.00  
            

(iii) Total Certificate Interest Due

            $ 138,782.97  

(iv) Certificate Interest Paid

              138,782.97  
            

(v) Certificate Interest Shortfall Ending Balance

            $ 0.00  

(B) Principal

                 

(i) Certificate Monthly Principal Due

            $ (0.00 )

(ii) Certificate Principal Shortfall Beginning Balance

            $ 0.00  
            

(iii) Total Certificate Principal Due

            $ (0.00 )

(iv) Certificate Principal Paid

              (0.00 )
            

(v) Certificate Principal Shortfall Ending Balance

            $ 0.00  

(C) Release to Seller

            $ 2,334,928.91  
DISTRIBUTIONS SUMMARY  

(A) Total Collections

            $ 54,792,710.19  

(B) Service Fee

            $ 1,263,027.94  

(C) Trustee Fees

              5,500.00  

(D) Class A1 Amount

            $ 48,356,815.04  

(E) Class A2 Amount

            $ 868,000.00  

(F) Class A3 Amount

            $ 1,151,875.00  

(G) Class A4 Amount

            $ 673,780.33  

(H) Amount Deposited into Reserve Account

            $ 0.00  

(I) Certificateholders

            $ 138,782.97  

(J) Release to seller

            $ 2,334,928.91  

(K) Total amount distributed

            $ 54,792,710.19  

(L) Amount of Draw from Reserve Account

              0.00  

(M) Excess Amount Released from Reserve Account

              0.00  
PORTFOLIO AND SECURITY SUMMARY  
    

Beginning

of Period

    

End

of Period

  

XIV. POOL BALANCES AND PORTFOLIO INFORMATION

                 

(A) Balances and Principal Factors

                 

(i) Aggregate Balance of Notes

    $ 1,464,859,274.47     $ 1,417,103,898.38  

(ii) Note Pool Factor

      0.9691395       0.9375450  

(iii) Class A-1 Notes Balance

      323,354,274.47       275,598,898.38  

(iv) Class A-1 Notes Pool Factor

      0.8739305       0.7448619  

(v) Class A-2 Notes Balance

      420,000,000.00       420,000,000.00  

(vi) Class A-2 Notes Pool Factor

      1.0000000       1.0000000  

(vii) Class A-3 Notes Balance

      475,000,000.00       475,000,000.00  

(viii) Class A-3 Notes Pool Factor

      1.0000000       1.0000000  

(ix) Class A-4 Notes Balance

      246,505,000.00       246,505,000.00  

(x) Class A-4 Notes Pool Factor

      1.0000000       1.0000000  

(xi) Certificates Balance

      50,774,257.07       50,774,257.07  

(xii) Certificates Pool Factor

      1.0000000       1.0000000  

(xiii) Total Principal Balance of Notes and Certificates

      1,515,633,531.54       1,467,878,155.45  

(B) Portfolio Information

                 

(i) Weighted Average Coupon (WAC)

      5.26 %     5.25 %

(ii) Weighted Average Remaining Maturity (WAM)

      50.32 months       49.47 months  

(iii) Remaining Number of Receivables

      102,607       101,286  

(iv) Portfolio Receivable Balance

    $ 1,515,633,531.54     $ 1,467,878,155.45  

(C) Outstanding Advance Amount

    $ 641,574.97     $ 719,111.67  

(D) Outstanding Payahead Balance

    $ 0.00     $ 0.00  
SUMMARY OF ACCOUNTS  

XV. RECONCILIATION OF RESERVE ACCOUNT

                 

(A) Beginning Reserve Account Balance

            $ 7,811,396.29  

(B) Draws

              0.00  

(i) Draw for Servicing Fee

              0.00  

(ii) Draw for Interest

              0.00  

(iii) Draw for Realized Losses

              0.00  

(C) Excess Interest Deposited into the Reserve Account

              0.00  

(D) Reserve Account Balance Prior to Release

              7,811,396.29  

(E) Reserve Account Required Amount

              7,811,396.29  

(F) Final Reserve Account Required Amount

              7,811,396.29  

(G) Excess Reserve Account Amount

              0.00  

(H) Release of Reserve Account Balance to Seller

              0.00  

(I) Ending Reserve Account Balance

              7,811,396.29  

 

page 3

AMERICAN HONDA FINANCE CORPORATION

MONTHLY SERVICER REPORT — Honda Auto Receivables 2004-3 Owner Trust

11/1/2004 through 11/30/2004

 

XVI. RECONCILIATION OF YIELD SUPPLEMENT ACCOUNT

                                 

(A) Beginning Yield Supplement Account Balance

                              6,133,587.68  

(B) Investment Earnings

                              9,270.29  

(C) Investment Earnings Withdraw

                              9,270.29  

(D) Additional Yield Supplement Amounts

                              0.00  

(E) Yield Supplement Deposit Amount

                              281,589.29  

(F) Release of Yield Deposit Account Balance to Seller

                              0.00  
                            

(G) Ending Yield Supplement Account Balance

                              5,851,998.39  

XVII. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY

                                 

(A) Liquidated Contracts

                                 

(i) Liquidation Proceeds

                            $ 23,507.90  

(ii) Recoveries on Previously Liquidated Contracts

                              3,666.48  

(B) Aggregate Net Losses for Collection Period

                              16,665.90  

(C) Net Loss Rate for Collection Period (annualized)

                              0.01 %

(D) Cumulative Net Losses for all Periods

                              41,546.34  
     # Units
     Dollar Amount
        

(E) Delinquent Receivables

                                 

(i) 30-59 Days Delinquent

    1,781    1.76 %   $ 24,107,205.37    1.64 %        

(ii) 60-89 Days Delinquent

    14    0.01 %   $ 176,415.06    0.01 %        

(ii) 90 Days or More Delinquent

    1    0.00 %   $ 25,712.62    0.00 %        
     # Units
     Dollar Amount
        

XVIII. REPOSSESSION ACTIVITY

                                 

(A) Vehicles Repossessed During Collection Period

    26    0.03 %   $ 446,071.79    0.03 %        

(B) Total Repossessed Vehicles in Inventory

    28    0.03 %   $ 469,894.03    0.03 %        

XIX. TESTS FOR INCREASE IN SPECIFIED RESERVE ACCOUNT BALANCE

                                 

(A) Ratio of Net Losses to the Pool Balance as of Each Collection Period

                                 

(i) Second Preceding Collection Period

                              0.00 %

(ii) Preceding Collection Period

                              0.02 %

(iii) Current Collection Period

                              0.01 %

(iv) Three Month Average (Avg(i,ii,iii))

                              0.02 %

(B) Ratio of Balance of Contracts Delinquent 61 Days or More to the Outstanding Balance of Receivables.

                                 

(i) Second Preceding Collection Period

                              0.00 %

(ii) Preceding Collection Period

                              0.01 %

(iii) Current Collection Period

                              0.04 %

(iv) Three Month Average (Avg(i,ii,iii))

                              0.03 %

(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 I. Weisickle

       

John I. Weisickle,

       

Vice President

 

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