Exhibit 20
TOYOTA MOTOR CREDIT CORPORATION
SERVICER'S Report—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of August 15, 2001 for the Collection Period
July 1, 2001 through July 31, 2001
| | | Class A-1 | Class A-2 | Class A-3 | Class A-4 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | Total | Balance | Balance | Balance | Balance | ||||||||||||
| Pool Data—Original Deal Parameters | |||||||||||||||||
| Securities Balance | $ | 1,452,840,000.00 | $ | 417,840,000.00 | $ | 500,000,000.00 | $ | 360,000,000.00 | $ | 175,000,000.00 | |||||||
| Receivables Pool Balance | $ | 1,497,783,044.00 | |||||||||||||||
| Principal Factor | 1.00000000 | 1.00000000 | 1.00000000 | 1.00000000 | 1.00000000 | ||||||||||||
| Rate | 4.300 | % | 4.562 | % | 5.018 | % | 5.360 | % | |||||||||
| Final Scheduled Payment Date | May 15, 2002 | December 15, 2003 | March 15, 2005 | October 17, 2007 | |||||||||||||
| Number of Contracts | 119,098 | ||||||||||||||||
| Weighted Average Coupon | 9.137 | % | |||||||||||||||
| Weighted Average Remaining Term | 45.70 months | ||||||||||||||||
| Servicing Fee Rate | 1.00 | % | |||||||||||||||
Pool Data—Prior Month | |||||||||||||||||
| Securities Balance | $ | 1,276,881,196.24 | $ | 241,881,196.24 | $ | 500,000,000.00 | $ | 360,000,000.00 | $ | 175,000,000.00 | |||||||
| Receivables Pool Balance | $ | 1,321,824,240.24 | |||||||||||||||
| Securities Pool Factor | 0.87888632 | 0.57888473 | 1.00000000 | 1.00000000 | 1.00000000 | ||||||||||||
| Number of Contracts | 112,844 | ||||||||||||||||
| Weighted Average Coupon | 9.166 | % | |||||||||||||||
| Weighted Average Remaining Term | 43.35 months | ||||||||||||||||
| Precompute and Simple Interest Advances | $ | 3,217,333.25 | |||||||||||||||
| Payahead Account Balance | $ | 1,483,949.39 | |||||||||||||||
| Supplemental Servicing Fee Received | $ | 93,698.49 | |||||||||||||||
| Interest Shortfall | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||
| Principal Shortfall | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||
Pool Data—Current Month | |||||||||||||||||
| Securities Balance | $ | 1,218,990,984.53 | $ | 183,990,984.53 | $ | 500,000,000.00 | $ | 360,000,000.00 | $ | 175,000,000.00 | |||||||
| Receivables Pool Balance | $ | 1,263,934,028.53 | |||||||||||||||
| Securities Pool Factor | 0.83904008 | 0.44033837 | 1.00000000 | 1.00000000 | 1.00000000 | ||||||||||||
| Number of Contracts | 110,508 | ||||||||||||||||
| Weighted Average Coupon | 9.178 | % | |||||||||||||||
| Weighted Average Remaining Term | 42.59 months | ||||||||||||||||
| Precompute and Simple Interest Advances | $ | 3,262,163.59 | |||||||||||||||
| Payahead Account Balance | $ | 1,635,893.33 | |||||||||||||||
| Supplemental Servicing Fee Received | $ | 99,740.58 | |||||||||||||||
| Interest Shortfall | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||
| Principal Shortfall | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||
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| Reserve Fund | |||||
| Initial Deposit Amount | $ | 3,744,458.00 | |||
| Specified Reserve Fund Percentage | 0.75 | % | |||
| Specified Reserve Fund Amount | $ | 9,479,505.21 | |||
| Specified Reserve Fund Percentage (if Condition i or ii met) | 5.50 | % | |||
| Specified Reserve Fund Amount (if Condition i or ii met) | $ | 67,044,504.15 | |||
Beginning Balance | $ | 9,913,681.80 | |||
| Total Withdraw | $ | 0.00 | |||
| Amount Available for Deposit to the Reserve Fund | $ | 4,061,072.99 | |||
| Reserve Fund Balance Prior to Release | $ | 13,974,754.79 | |||
| Reserve Fund Required Amount | $ | 9,479,505.21 | |||
| Reserve Fund Release to Seller | $ | 4,495,249.58 | |||
| Ending Reserve Fund Balance | $ | 9,479,505.21 | |||
| Liquidation of Charge-offs and Repossessions | Vehicles | Amount | |||||
|---|---|---|---|---|---|---|---|
| Liquidated Contracts | 37 | ||||||
| Gross Principal Balance of Liquidated Receivables | $ | 419,342.23 | |||||
| Net Liquidation Proceeds Received During the Collection Period | $ | (281,316.73 | ) | ||||
| Recoveries on Previously Liquidated Contracts | $ | 0.00 | |||||
| Aggregate Credit Losses for the Collection Period | $ | 138,025.50 | |||||
| Cumulative Credit Losses for all Periods | 66 | $ | 259,910.76 | ||||
| Repossessed in Current Period | 75 | ||||||
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| Ratio of Net Credit Losses to the Average Pool Balance for Each Collection Period: | Annualized Average Charge-Off Rate | |||
|---|---|---|---|---|
| Second Preceding Collection Period | 0.01 | % | ||
| First Preceding Collection Period | 0.10 | % | ||
| Current Collection Period | 0.13 | % | ||
Condition (i) (Charge-off Rate) | ||||
| Three Month Average | 0.08 | % | ||
| Charge-off Rate Indicator (> 1.25%) | condition not met | |||
| Delinquent and Repossessed Contracts | Percent | Contracts | Percent | Amount | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 31-60 Days Delinquent | 1.30 | % | 1,437 | 1.28 | % | $ | 16,161,479.31 | |||
| 61-90 Days Delinquent | 0.16 | % | 176 | 0.16 | % | $ | 2,047,308.30 | |||
| Over 90 Days Delinquent | 0.09 | % | 103 | 0.12 | % | $ | 1,485,400.62 | |||
| Total Delinquencies | 1,716 | $ | 19,694,188.23 | |||||||
| Repossessed Vehicle Inventory | 121 | * | ||||||||
| Ratio of Number of Contracts Delinquent 60 Days or More to the Outstanding Number of Receivables as of Each Collection Period (Includes Repossessions): | | |||
|---|---|---|---|---|
| Second Preceding Collection Period | 0.11 | % | ||
| First Preceding Collection Period | 0.17 | % | ||
| Current Collection Period | 0.25 | % | ||
Condition (ii) (Delinquency Percentage) | ||||
| Three Month Average | 0.18 | % | ||
| Delinquency Percentage Indicator (> 1.25%) | condition not met | |||
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TOYOTA MOTOR CREDIT CORPORATION
SERVICER'S Report—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of August 15, 2001 for the Collection Period
July 1, 2001 through July 31, 2001
| | | Class A-1 | Class A-2 | Class A-3 | Class A-4 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | Total | Balance | Balance | Balance | Balance | |||||||||||
| Collections | ||||||||||||||||
| Principal Payments Received | $ | 57,470,869.48 | ||||||||||||||
| Interest Payments Received | $ | 10,462,373.24 | ||||||||||||||
| Net Precomputed Payahead Amount | $ | (151,943.94 | ) | |||||||||||||
| Aggregate Net Liquidation Proceeds Received | $ | 281,316.73 | ||||||||||||||
| Principal on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Interest on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Total Collections | $ | 68,062,615.51 | ||||||||||||||
| Net Simple Interest Advance Amount | $ | 120,807.52 | ||||||||||||||
| Net Precomputed Advance Amount | $ | (75,977.18 | ) | |||||||||||||
| Total Available Amount | $ | 68,107,445.85 | ||||||||||||||
Amounts Due | ||||||||||||||||
| Servicing Fee | $ | 1,101,520.20 | ||||||||||||||
| Accrued and Unpaid Interest | $ | 5,054,640.95 | ||||||||||||||
| Principal | $ | 57,890,211.71 | ||||||||||||||
| Reserve Fund | $ | 4,061,072.99 | ||||||||||||||
| Total Amount Due | $ | 68,107,445.85 | ||||||||||||||
Actual Distributions | ||||||||||||||||
| Servicing Fee | $ | 1,101,520.20 | ||||||||||||||
| Interest | $ | 5,054,640.95 | $ | 866,740.95 | $ | 1,900,833.33 | $ | 1,505,400.00 | $ | 781,666.67 | ||||||
| Principal | $ | 57,890,211.71 | $ | 57,890,211.71 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||
| Reserve Fund | $ | 4,061,072.99 | ||||||||||||||
| Total Amount Distributed | $ | 68,107,445.85 | $ | 58,756,952.66 | $ | 1,900,833.33 | $ | 1,505,400.00 | $ | 781,666.67 | ||||||
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| Monthly Information by Type of Loan | ||||||
Precomputed Contracts | ||||||
| Scheduled Principal Collections | $ | 5,601,173.94 | ||||
| Prepayments in Full | 394 contracts | $ | 2,556,066.58 | |||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Payments Behind/Ahead on Repurchased Receivables | $ | 0.00 | ||||
| Total Collections | $ | 9,595,612.48 | ||||
| Advances—Reimbursement of Previous Advances | $ | 75,977.18 | ||||
| Advances—Current Advance Amount | $ | 0.00 | ||||
| Payahead Account—Payments Applied | $ | 0.00 | ||||
| Payahead Account—Additional Payaheads | $ | 151,943.94 | ||||
Simple Interest Contracts | ||||||
| Collected Principal | $ | 28,681,471.39 | ||||
| Prepayments in Full | 1905 contracts | $ | 20,632,157.57 | |||
| Collected Interest | $ | 9,024,001.28 | ||||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Repurchased Receivables Interest | $ | 0.00 | ||||
| Advances—Reimbursement of Previous Advances | $ | 0.00 | ||||
| Advances—Current Advance Amount | $ | 120,807.52 | ||||
Page 5
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of August 15, 2001 for the Collection Period of
July 1 through July 31, 2001
| | Class A2 | Class A3 | Class A4 | |||||
|---|---|---|---|---|---|---|---|---|
| | Balance | Balance | Balance | |||||
| Note Rates for August 15, 2001 Payment Date | ||||||||
| One Month LIBOR | 3.83000 | % | 3.83000 | % | 3.83000 | % | ||
| Spread | 0.06000 | % | 0.08000 | % | 0.10000 | % | ||
| Note Rates: | 3.89000 | % | 3.91000 | % | 3.93000 | % | ||
Number of Days in Interest Period (Days) | 30 | 30 | 30 | |||||
Interest Payments | ||||||||
| Interest Calculation for Current Interest Period | 1,620,833.33 | 1,173,000.00 | 573,125.00 | |||||
| At Certificate Payment Date: | ||||||||
| Due to Swap Counterparty (Swap Payments Outgoing) | 1,900,833.33 | 1,505,400.00 | 781,666.67 | |||||
| Paid to Swap Counterparty (Swap Payments Outgoing) | 1,900,833.33 | 1,505,400.00 | 781,666.67 | |||||
| Proration % 0.00% | ||||||||
| Interest Due to Noteholders (Swap Payments Incoming) | 1,620,833.33 | 1,173,000.00 | 573,125.00 | |||||
| Interest Payment to Noteholders (Swap Payments Incoming) | 1,620,833.33 | 1,173,000.00 | 573,125.00 | |||||
Net Swap Payment due to / (received by) Swap Counterparty | (280,000.00 | ) | (332,400.00 | ) | (208,541.67 | ) | ||
Principal Payments | ||||||||
| Principal Payment due to Investors | — | — | — | |||||
| Ending Notional Balance | 500,000,000.00 | 360,000,000.00 | 175,000,000.00 | |||||
Swap Termination Payment | N/A | N/A | N/A | |||||
Note Rates for September 17, 2001 Payment Date | ||||||||
| One Month LIBOR | 3.64000 | % | 3.64000 | % | 3.64000 | % | ||
| Spread | 0.06000 | % | 0.08000 | % | 0.10000 | % | ||
| Note Rates: | 3.70000 | % | 3.72000 | % | 3.74000 | % | ||
Number of Days in Interest Period (Days) | 33 | 33 | 33 | |||||
I hereby certify to the best of my knowledge that
the report provided is true and correct.
| /s/ ANGELA BROWN Angela Brown, ABS Accounting Manager |
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