EX-19 2 mayaotbexh19.txt Exhibit 19 Ford Credit Auto Owner Trust 2005-B Monthly Servicing Report
Collection Period May, 2005 Distribution Date 6/15/2005 Transaction Month 2 I. ORIGINAL DEAL PARAMETERS --------------------------- Dollar Amount # of Contracts Original Portfolio: $3,199,999,975.21 169,768 Original Securities: Dollar Amount Coupon Legal Final Maturity Class A-1 Notes $486,000,000.00 3.150% December 15, 2005 Class A-2 Notes 990,000,000.00 3.780% September 15, 2007 Class A-3 Notes 881,000,000.00 4.170% January 15, 2009 Class A-4 Notes 470,165,000.00 4.380% January 15, 2010 Class B Notes 89,279,000.00 4.640% April 15, 2010 Class C Notes 59,519,000.00 4.830% August 15, 2010 Class D Certificates 59,519,000.00 6.780% September 15, 2011 ------------- Total $3,035,482,000.00 II. COLLECTIONS --------------- Interest: Simple Interest Loans Precomputed Loans Total Interest Collections $12,181,699.51 $0.00 $12,181,699.51 Repurchased Loan Proceeds Related to Interest 2,474.98 0.00 2,474.98 -------- ---- -------- Total $12,184,174.49 $0.00 $12,184,174.49 Servicer Advances: Principal Advances $0.00 $0.00 $0.00 Interest Advances 2,054,864.65 0.00 2,054,864.65 ------------ ---- ------------ Total $2,054,864.65 $0.00 $2,054,864.65 Principal: Principal Collections $64,151,642.95 $0.00 $64,151,642.95 Prepayments in Full 55,999,348.14 0.00 55,999,348.14 Prepayments in Full Due to Administrative Repurchases 0.00 0.00 0.00 Repurchased Loan Proceeds Related to Principal 124,841.13 0.00 124,841.13 Payahead Draws 0.00 0.00 0.00 ---- ---- ---- Total $120,275,832.22 $0.00 $120,275,832.22 Liquidation Proceeds $306,988.58 Recoveries from Prior Month Charge-Offs 0.00 ---- Total Principal Collections $120,582,820.80 Principal Losses for Collection Period $484,928.20 Total Regular Principal Reduction $120,760,760.42 Total Collections $134,821,859.94 III. FUNDS AVAILABLE FOR DISTRIBUTION ------------------------------------- Total Collections $134,821,859.94 Reserve Account Release 0.00 Reserve Account Draw 0.00 Clean-up Call 0.00 ---- Total $134,821,859.94 Page 1 Ford Credit Auto Owner Trust 2005-B Monthly Servicing Report Collection Period May, 2005 Distribution Date 6/15/2005 Transaction Month 2 IV. DISTRIBUTIONS ----------------- Servicing Fee: Amount Due Amount Paid Shortfall Total Amount $2,563,873.80 $2,563,873.80 $0.00 Amount per $1,000 of Original Balance 0.84 0.84 0.00 Change in Noteholders Interest: Amount Due Amount Paid Shortfall Carryover Shortfall Carryover Shortfall Class A1 Notes $947,615.82 $947,615.82 $0.00 $0.00 $0.00 Class A2 Notes 3,118,500.00 3,118,500.00 0.00 0.00 0.00 Class A3 Notes 3,061,475.00 3,061,475.00 0.00 0.00 0.00 Class A4 Notes 1,716,102.25 1,716,102.25 0.00 0.00 0.00 Class B Notes 345,212.13 345,212.13 0.00 0.00 0.00 Class C Notes 239,563.98 239,563.98 0.00 0.00 0.00 ---------- ---------- ---- ---- ---- Total $9,428,469.18 $9,428,469.18 $0.00 $0.00 $0.00 Certificateholders Interest: Class D Certificates $336,282.35 $336,282.35 $0.00 $0.00 $0.00 ----------- ----------- ----- ----- ----- Total Note and Cert. Interest: $9,764,751.53 $9,764,751.53 $0.00 $0.00 $0.00 Total Available for Principal Distribution $122,493,234.61 Principal Distribution Amounts First Priority Distribution Amount $0.00 Second Priority Distribution Amount 43,320,825.05 Third Priority Distribution Amount 59,519,000.00 Regular Principal Distribution Amount 258,156,679.65 -------------- Principal Distribution Amount $360,996,504.70 Noteholder Principal Distributions: Class A1 Notes $122,493,234.61 Class A2 Notes 0.00 Class A3 Notes 0.00 Class A4 Notes 0.00 Class B Notes 0.00 Class C Notes 0.00 ---- Total Note Principal Paid $122,493,234.61 Certificateholder Principal Distributions: Class D Certificates $0.00 ----- Total Note and Certificate Principal Paid: $122,493,234.61 Collections Released to Seller $0.00 Reserve Release $0.00 Total Available for Distribution $134,821,859.94 Total Distribution (incl. Servicing Fee) $134,821,859.94 Page 2 Ford Credit Auto Owner Trust 2005-B Monthly Servicing Report Collection Period May, 2005 Distribution Date 6/15/2005 Transaction Month 2 V. DISTRIBUTION PER $1,000 OF ORIGINAL BALANCE ---------------------------------------------- Principal Interest Total Distribution Distribution Distribution Class A1 Notes $252.04 $1.95 $253.99 Class A2 Notes 0.00 3.15 3.15 Class A3 Notes 0.00 3.48 3.48 Class A4 Notes 0.00 3.65 3.65 Class B Notes 0.00 3.87 3.87 Class C Notes 0.00 4.03 4.03 ---- ---- ---- Total Notes $41.16 $3.17 $44.33 Class D Certificates $0.00 $5.65 $5.65 ----- ----- ----- Total Notes and Certificates: $40.35 $3.22 $43.57 VI. POOL BALANCE AND PORTFOLIO INFORMATION ------------------------------------------ Beginning of Period End of Period Balance Pool Factor Balance Pool Factor Aggregate Balance of Notes $2,850,959,504.70 0.9579956 $2,728,466,270.09 0.9168347 Class A1 Notes 360,996,504.70 0.7427912 238,503,270.09 0.4907475 Class A2 Notes 990,000,000.00 1.0000000 990,000,000.00 1.0000000 Class A3 Notes 881,000,000.00 1.0000000 881,000,000.00 1.0000000 Class A4 Notes 470,165,000.00 1.0000000 470,165,000.00 1.0000000 Class B Notes 89,279,000.00 1.0000000 89,279,000.00 1.0000000 Class C Notes 59,519,000.00 1.0000000 59,519,000.00 1.0000000 Class D Certificates 59,519,000.00 1.0000000 59,519,000.00 1.0000000 ------------- --------- ------------- --------- Total $2,910,478,504.70 0.9588192 $2,787,985,270.09 0.9184654 Portfolio Information Weighted Average Coupon (WAC) 5.52% 5.51% Weighted Average Remaining Maturity (WAM) 50.86 49.96 Remaining Number of Receivables 165,791 161,869 Portfolio Receivable Balance $3,076,648,554.37 $2,955,887,793.95 VII. OVERCOLLATERALIZATION INFORMATION -------------------------------------- Specified Overcollateralization Amount $13,558,878.06 Specified Credit Enhancement Amount $29,558,877.94 Yield Supplement Overcollateralization Amount $207,768,114.30 Target Level of Overcollateralization $221,326,992.36 Page 3 Ford Credit Auto Owner Trust 2005-B Monthly Servicing Report Collection Period May, 2005 Distribution Date 6/15/2005 Transaction Month 2 VIII. RECONCILIATION OF RESERVE ACCOUNT --------------------------------------- Beginning Reserve Account Balance $15,999,999.88 Specified Reserve Account Balance 15,999,999.88 Reserve Release Amount 0.00 Reserve Account Draws 0.00 Interim Reserve Account Balance 15,999,999.88 Reserve Account Deposits Made 0.00 ---- Ending Reserve Account Balance $15,999,999.88 Change in Reserve Account Balance $0.00 IX. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY --------------------------------------------- Liquidation Proceeds $306,988.58 Recoveries from Prior Month Charge-Offs $0.00 Total Principal Losses for Collection Period $484,928.20 Charge-off Rate for Collection Period (annualized) 0.07% Cumulative Net Losses for all Periods $238,133.06 Delinquent Receivables: # of Contracts Amount 31-60 Days Delinquent 755 $13,646,431.61 61-90 Days Delinquent 47 $854,603.72 91-120 Days Delinquent 0 $0.00 Over 120 Days Delinquent 1 $12,482.12 Repossesion Inventory 43 $894,376.73 Ratio of Net Losses to the Average Pool Balance: Second Preceding Collection Period 0.0000% Preceding Collection Period 0.0230% Current Collection Period 0.0708% Three Month Average 0.0000% Ratio of 60+ Delinquent Contracts to Outstanding Receivables: Preceding Collection Period 0.0012% Current Collection Period 0.0297% Three Month Average 0.0000% Page 4 Ford Credit Auto Owner Trust 2005-B Monthly Servicing Report Collection Period May, 2005 Distribution Date 6/15/2005 Transaction Month 2 Worksheet Information --------------------- Servicer Advances Simple Interest Loans Precomputed Loans Beginning Servicer Advances $2,375,230.79 $0.00 New Advances 2,014,145.95 0.00 Servicer Advance Recoveries 1,259,017.96 0.00 ------------ ---- Ending Servicer Advances $3,130,358.78 $0.00 Current Month Interest Advances for Prepaid Loans $40,718.70 $0.00 Payahead Account Beginning Payahead Account Balance $0.00 Additional Payaheads 0.00 Payahead Draws 0.00 ---- Ending Payahead Account Balance $0.00
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