Exhibit 20.1
Hyundai Auto Receivables Trust 2005-A
Monthly Servicing Report
Collection Period | December 2005 | |||
Distribution Date | 01/17/06 | |||
Transaction Month | 6 | |||
30/360 Days | 30 | |||
Actual/360 Days | 33 |
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 | $ | 31,922,923.18 | 0.1888930 | $ | 10,268,281.44 | 0.0607591 | $ | 21,654,641.74 | ||||||||||||
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 | $ | 636,922,923.18 | 0.8228978 | $ | 615,268,281.44 | 0.7949203 | $ | 21,654,641.74 | ||||||||||||
Weighted Avg. Coupon (WAC) | 7.08 | % | 7.06 | % | ||||||||||||||||
Weighted Avg. Remaining Maturity (WARM) | 53.76 | 52.80 | ||||||||||||||||||
Pool Receivables Balance | $ | 726,650,236.32 | $ | 705,230,574.93 | ||||||||||||||||
Remaining Number of Receivables | 48,617 | 47,948 | ||||||||||||||||||
Adjusted Pool Balance | $ | 678,195,498.61 | $ | 658,505,851.79 |
III. COLLECTIONS
Principal: | ||||
Principal Collections | $ | 20,023,573.66 | ||
Repurchased Contract Proceeds Related to Principal | $ | — | ||
Liquidation Proceeds | $ | — | ||
Recoveries from Prior Month Charge-Offs | $ | 151,605.17 | ||
Total Principal Collections | $ | 20,175,178.83 | ||
Interest: | ||||
Interest Collections | $ | 4,204,461.47 | ||
Late Fees & Other Charges | $ | 69,165.00 | ||
Interest on Repurchase Principal | $ | — | ||
Total Interest Collections | $ | 4,273,626.47 | ||
Collection Account Interest | $ | 72,091.60 | ||
Reserve Account Interest | $ | 13,889.32 | ||
Total Collections | $ | 24,534,786.22 |
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Hyundai Auto Receivables Trust 2005-A
Monthly Servicing Report
Collection Period | December 2005 | |||
Distribution Date | 01/17/06 | |||
Transaction Month | 6 | |||
30/360 Days | 30 | |||
Actual/360 Days | 33 |
IV. DISTRIBUTIONS
Total Collections | $ | 24,534,786.22 | ||
Reserve Account Release | $ | — | ||
Reserve Account Draw | $ | — | ||
Total Available for Distribution | $ | 24,534,786.22 |
Amount Due | Amount Paid | |||||||||||
1. Servicing Fee @1.00%: | ||||||||||||
Servicing Fee Due | $ | 605,541.86 | $ | 605,541.86 | $ | 605,541.86 | ||||||
Collection Account Interest | $ | 72,091.60 | ||||||||||
Late Fees & Other Charges | $ | 69,165.00 | ||||||||||
Total due to Servicer | $ | 746,798.46 | ||||||||||
2. Class A Noteholders Interest: | ||||||||||||
Class A-1 Notes | $ | 102,840.18 | $ | 102,840.18 | ||||||||
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: | $ | 1,797,868.52 | $ | 1,797,868.52 | $ | 1,797,868.52 | ||||||
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: | $ | 21,654,641.74 | ||||||||||
9. Regular Principal Distribution Amount: | $ | 21,654,641.74 | ||||||||||
Distributable Amount | Paid Amount | |||||||||||
Class A-1 Notes | $ | 21,654,641.74 | ||||||||||
Class A-2 Notes | $ | — | ||||||||||
Class A-3 Notes | $ | — | ||||||||||
Class A-4 Notes | $ | — | ||||||||||
Class A Notes Total: | $ | 111,204,261.58 | $ | 21,654,641.74 | ||||||||
Class B Notes Total: | $ | 31,900,000.00 | $ | — | ||||||||
Class C Notes Total: | $ | 27,900,000.00 | $ | — | ||||||||
Class D Notes Total: | $ | 2,160,510.59 | $ | — | ||||||||
Total Noteholders Principal | $ | 21,654,641.74 | ||||||||||
10. Available Amounts Remaining to reserve account | 0.00 | |||||||||||
11. Trust Fees and Expenses | 0.00 | |||||||||||
12. Remaining Available Collections Released to Cetificateholder | 0.00 | |||||||||||
V. YIELD SUPPLEMENT OVERCOLLATERALIZATION AMOUNT (YSOA)
Beginning Period Required Amount | $ | 48,454,737.71 | ||
Beginning Period Amount | $ | 48,454,737.71 | ||
Current Period Amortization | $ | 1,730,014.57 | ||
Ending Period Required Amount | $ | 46,724,723.14 | ||
Ending Period Amount | $ | 46,724,723.14 | ||
Next Distribution Date Required Amount | $ | 45,022,161.83 |
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Hyundai Auto Receivables Trust 2005-A
Monthly Servicing Report
Collection Period | December 2005 | |||
Distribution Date | 01/17/06 | |||
Transaction Month | 6 | |||
30/360 Days | 30 | |||
Actual/360 Days | 33 |
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 | $ | 41,272,575.43 | $ | 43,237,570.35 | $ | 45,398,080.94 | ||||||
Overcollateralization as a % of Original Pool (unadjusted) | 4.82 | % | 5.05 | % | 5.31 | % | ||||||
Overcollateralization as a % of Current Pool (unadjusted) | 5.68 | % | 6.13 | % | 6.44 | % |
VIII. DELINQUENCY AND NET LOSS ACTIVITY
Units Percent | Units | Dollars Percent | Dollar Amount | |||||||||||||
Current | 97.48 | % | 46,738 | 97.43 | % | $ | 687,081,298.84 | |||||||||
30 - 59 Days | 1.94 | % | 928 | 1.98 | % | $ | 13,986,904.01 | |||||||||
60 - 89 Days | 0.47 | % | 224 | 0.48 | % | $ | 3,396,821.71 | |||||||||
90 + Days | 0.12 | % | 58 | 0.11 | % | $ | 765,550.37 | |||||||||
Total | 47,948 | $ | 705,230,574.93 | |||||||||||||
Delinquent Receivables 60 + days past due | 0.59 | % | 282 | 0.59 | % | $ | 4,162,372.08 | |||||||||
Delinquency Ratio 60+ for 1st Preceding Collection Period | 0.50 | % | 241 | 0.35 | % | $ | 2,516,409.29 | |||||||||
Delinquency Ratio 60+ for 2nd Preceding Collection Period | 0.42 | % | 209 | 0.40 | % | $ | 2,997,465.58 | |||||||||
Three-Month Average Delinquency Ratio | 0.50 | % | 0.45 | % | ||||||||||||
Repossession in Current Period | 115 | |||||||||||||||
Repossession Inventory | 135 | |||||||||||||||
Charge-Offs | ||||||||||||||||
Gross Principal of Charge-Off for Current Period | $ | 1,396,087.73 | ||||||||||||||
Recoveries for Current Period | $ | — | ||||||||||||||
Recoveries on Previous Charge-off Contracts | $ | (151,605.17 | ) | |||||||||||||
Net Charge-offs for Current Period | $ | 1,244,482.56 | ||||||||||||||
Average Pool Balance for Current Period | $ | 715,940,405.63 | ||||||||||||||
Net Loss Ratio | 2.09 | % | ||||||||||||||
Net Loss Ratio for 1st Preceding Collection Period | 2.04 | % | ||||||||||||||
Net Loss Ratio for 2nd Preceding Collection Period | 1.32 | % | ||||||||||||||
Three-Month Average Net Loss Ratio for Current Period | 1.82 | % | ||||||||||||||
Cumulative Net Losses for All Periods | $ | 4,843,701.48 | ||||||||||||||
Cumulative Net Losses as a % of Initial Pool Balance | 0.57 | % |
The undersigned hereby represents and warrants that the foregoing is a true and accurate accounting with respect to the outstandings as of December 31, 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: | Min Sok Randy Park | |||
Title: | Director, Finance (acting as Vice President, Finance) | |||
Date: | January 11, 2006 | |||
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SERVICER’S CERTIFICATE
Collection Period: December 2005
Distribution Date: January 17, 2006
Distribution Date: January 17, 2006
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 December 1, 2005 to December 31, 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 December 31, 2005, no Servicer Termination Events have occurred.
IN WITNESS WHEREOF, I have fixed hereunto my signature this 11th day of January 2006.
HYUNDAI MOTOR FINANCE COMPANY, as Servicer | ||||
By: | /s/ Min Sok Randy Park | |||
Name: | Min Sok Randy Park | |||
Title: | Acting Vice President, Finance | |||