Capital One Auto Finance Trust 2004-a Inactive
Filed: 12 Oct 04, 12:00am
Exhibit 20
Capital One Auto Finance Trust 2004-A
Automobile Receivable - Backed Notes
Class A-1 Note 1.2100% Asset-Backed Notes
Class A-2 Note 2.2200% Asset-Backed Notes
Class A-3 Note 3.0700% Asset-Backed Notes
Class A-4 Note LIBOR + 0.1000% Asset-Backed Notes
Preliminary Servicer’s Certificate
Monthly Period Beginning: | 09/01/2004 |
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| Original Pool Balance |
Monthly Period Ending: | 09/30/2004 |
| Purchases | Units | Cut-off Date | Closing Date | |
Prev. Distribution/Close Date | 09/15/2004 |
| Initial Purchase | 67,616 | 5/19/2004 | 05/25/2004 | 1,149,631,256.37 |
Distribution Date: | 10/15/2004 |
| Sub Purchase #1 | 0 |
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| 0.00 |
Days of Interest Period: | 30 |
| Sub Purchase #2 | 0 |
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| 0.00 |
Days in Collection Period: | 30 |
| Sub Purchase #3 | 0 |
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| 0.00 |
Months Seasoned: | 4 |
| Total | 67,616 |
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| 1,149,631,256.37 |
I. | MONTHLY PERIOD RECEIVABLES PRINCIPAL BALANCE CALCULATION: | |||||
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{1} | Beginning of Period Aggregate Principal Balance | {1} |
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| 1,049,016,244.42 | |
{2} | Purchase of Subsequent Receivables | {2} |
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| 0.00 | |
| Monthly Principal Amounts |
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| {3} | Regular Principal Received | {3} | 15,489,966.63 |
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| {4} | Prepaid Principal Received | {4} | 14,094,046.34 |
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| {5} | Defaulted Receivables | {5} | 2,222,626.76 |
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| {6} | Principal Portion of Repurchased Receivables | {6} | 56,757.24 |
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| {7} | Cram Down Losses and Other Non-Cash Adjustments | {7} | 965.30 |
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| {8} | Total Monthly Principal Amounts | {8} |
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| 31,864,362.27 |
{9} | End of Period Aggregate Receivables Balance | {9} |
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| 1,017,151,882.15 | |
{10} | Pool Factor ({9} / Original Pool Balance) | {10} |
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| 0.8848 | |
II. | MONTHLY PERIOD NOTE BALANCE CALCULATION: |
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| Class A-1 | Class A-2 | Class A-3 | Class A-4 | Total | ||
{11} | Original Note Balance | {11} | 155,000,000.00 | 375,000,000.00 | 165,000,000.00 | 305,000,000.00 | 1,000,000,000.00 |
{12} | Beginning of Period Note Balance | {12} | 36,173,645.31 | 375,000,000.00 | 165,000,000.00 | 305,000,000.00 | 881,173,645.31 |
{13} | First Allocation of Principal | {13} | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
{14} | Second Allocation of Principal | {14} | 26,766,064.30 | 0.00 | 0.00 | 0.00 | 26,766,064.30 |
{15} | Optional Note Redemption Amount | {15} | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
{16} | End of Period Note Balance | {16} | 9,407,581.01 | 375,000,000.00 | 165,000,000.00 | 305,000,000.00 | 854,407,581.01 |
{17} | Note Pool Factors ({16}/{11}) | {17} | 0.0607 | 1.0000 | 1.0000 | 1.0000 | 0.8544 |
{18} | Principal Payment Per $1,000 | {18} | 172.68 | 0.00 | 0.00 | 0.00 | 26.77 |
III. | RECONCILIATION OF PRE-FUNDING ACCOUNT: |
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{19} | Beginning of Period Pre-Funding Account Balance | {19} |
| 0.00 |
{20} | Purchase of Subsequent Receivables | {20} | 0.00 |
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{21} | Investment Earnings | {21} | 0.00 |
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{22} | Investment Earning Transfer to Collection Account | {22} | 0.00 |
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{23} | Payment of Mandatory Prepayment Amount | {23} | 0.00 |
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{24} | End of Period Pre-Funding Account Balance | {24} |
| 0.00 |
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IV. | RECONCILIATION OF COLLECTION ACCOUNT: |
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Available Funds: |
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{25} | Scheduled and Prepayment Principal Cash Received | {25} | 29,584,012.97 |
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{26} | Liquidation Proceeds Collected During Period | {26} | 954,038.45 |
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{27} | Receivables Repurchase Amounts | {27} | 56,757.24 |
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{28} | Interest Collected on Receivables | {28} | 10,847,517.52 |
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{29} | Swap Termination Account | {29} | 0.00 |
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{30} | Return of Excess Deposit - Prefunding Account | {30} | 0.00 |
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{31} | Advances from the Reserve Fund | {31} | 0.00 |
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{32} | Release from Reserve Fund Account | {32} | 0.00 |
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| Investment Earnings on Trust Accounts |
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{33} | Collection Account | {33} | 42,120.78 |
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{34} | Transfer from Reserve Fund | {34} | 26,536.62 |
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{35} | Transfer from Pre-Funding Account | {35} | 0.00 |
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{36} | Net Swap Receipts | {36} | 0.00 |
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{37} | Optional Note Redemption Prepayment Amount | {37} | 0.00 |
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{38} | Total Available Funds | {38} |
| 41,510,983.58 | ||||||||||||||
Distributions: |
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{39} | Trustee Fees | {39} | 0.00 |
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| Servicing Fees |
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| Calculated | Carryover | Change from | Total |
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{40} | 2,185,450.51 | 0.00 | 0.00 | 2,185,450.51 |
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| {40} | 2,185,450.51 |
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{41} | Net Swap Payments | {41} | 498,166.67 |
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| Class A Noteholders’ Accrued Note Interest |
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| Class | Beginning | Interest | Days | Day Count | Calculated | Coupon Pmt. |
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{42} | Class A-1 Note | 36,173,645.31 | 1.21% | 30 | Actual/360 | 36,475.09 | 0.24 | {42} | 36,475.09 |
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{43} | Class A-2 Note | 375,000,000.00 | 2.22% | 30 | 30/360 | 693,750.00 | 1.85 | {43} | 693,750.00 |
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{44} | Class A-3 Note | 165,000,000.00 | 3.07% | 30 | 30/360 | 422,125.00 | 2.56 | {44} | 422,125.00 |
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{45} | Class A-4 Note | 305,000,000.00 | LIBOR + 0.10% | 30 | Actual/360 | 472,750.00 | 1.55 | {45} | 472,750.00 |
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| Class A Noteholders’ Accrued Note Interest |
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| Class | Carryover | Change from | Carryover Shortfall |
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{46} | Class A-1 Note | 0.00 | 0.00 | 0.00 |
| {46} | 0.00 |
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{47} | Class A-2 Note | 0.00 | 0.00 | 0.00 |
| {47} | 0.00 |
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{48} | Class A-3 Note | 0.00 | 0.00 | 0.00 |
| {48} | 0.00 |
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{49} | Class A-4 Note | 0.00 | 0.00 | 0.00 |
| {49} | 0.00 |
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{50} | Note Insurer Premium and Certain Reimbursement |
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| {50} | 146,862.27 |
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{51} | First Allocation of Principal |
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| {51} | 0.00 |
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{52} | Accrued and Unpaid Premium and Reimbursement Obligations, due Note Insurer |
| {52} | 0.00 |
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{53} | Second Allocation of Principal |
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| {53} | 26,766,064.30 |
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{54} | Deposit to Reserve Account, to Required Level |
| {54} | 0.00 |
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{55} | Swap Termination Payments |
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| {55} | 0.00 |
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{56} | Other Amounts Due to the Trustees |
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| {56} | 0.00 |
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{57} | Optional Note Redemption Prepayment Amount / EOD Prin Pay |
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| {57} | 0.00 |
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{58} | Distribution to the Equity Certificate Holder |
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| {58} | 10,289,339.74 |
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{59} | Total Distributions |
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| {59} |
| 41,510,983.58 | ||||||||||||
6 of 9
V. | RECONCILIATION OF RESERVE ACCOUNT: |
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{60} | Beginning of Period Reserve Account balance | {60} |
| 22,992,625.13 | |||
{61} | Deposits to Reserve Account - Subsequent Fundings | {61} |
| 0.00 | |||
{62} | Subtotal | {62} |
| 22,992,625.13 | |||
| {63} | Reserve Account Requirement | {63} | 22,992,625.13 |
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| {64} | Reserve Acount Shortfall / (Excess) | {64} | 0.00 |
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{65} | Deposit to Reserve Fund, to Required Level | {65} |
| 0.00 | |||
{66} | Release from Reserve Account | {66} |
| 0.00 | |||
{67} | End of Period Reserve Account Balance | {67} |
| 22,992,625.13 | |||
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{68} | Change in Reserve Account Balance from Prior Period | {68} |
| 0.00 | |||
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{69} | EOP Shortfall | {69} |
| 0.00 | |||
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| IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Monthly Servicer’s Report as dated below. |
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| OFFICERS’ CERTIFICATE |
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| The undersigned hereby certifies that (i) he or she is an Authorized Officer of Capital One Auto Finance, Inc. (the “Servicer”), and (ii) Exhibit A hereto complies with the requirements of, and is being delivered pursuant to, the Servicing Agreement dated as of May 25, 2004 by and among Capital One Auto Receivables, LLC, as Seller, Capital One Auto Finance, Inc., as Servicer, Capital One Auto Finance Trust 2004-A, as Issuer, and JPMorgan Chase Bank, as Indenture Trustee. |
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| CAPITAL ONE AUTO FINANCE, INC. |
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| Capital One Auto Finance, Inc., as Servicer |
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| By: | /s/ Steve Cunningham |
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| Name: | Steve Cunningham |
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| Title: | Assistant Vice President |
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| Date: | 10/12/2004 |
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7 of 9
Exhibit A
Capital One Auto Finance Trust 2004-A
Automobile Receivable - Backed Notes
Class A-1 Note 1.2100% Asset-Backed Notes
Class A-2 Note 2.2200% Asset-Backed Notes
Class A-3 Note 3.0700% Asset-Backed Notes
Class A-4 Note LIBOR + 0.1000% Asset-Backed Notes
Servicer’s Certificate
Monthly Period Ending 9/30/2004
Distribution Date 10/15/2004
I. | MONTHLY PERIOD NOTE BALANCE CALCULATION: |
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| Class A-1 | Class A-2 | Class A-3 | Class A-4 | Total | |
{1} | Original Note Balance | {1} | 155,000,000.00 | 375,000,000.00 | 165,000,000.00 | 305,000,000.00 | 1,000,000,000.00 |
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{2} | Beginning of Period Note Balance | {2} | 36,173,645.31 | 375,000,000.00 | 165,000,000.00 | 305,000,000.00 | 881,173,645.31 |
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{3} | End of Period Note Balance | {3} | 9,407,581.01 | 375,000,000.00 | 165,000,000.00 | 305,000,000.00 | 854,407,581.01 |
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{4} | Note Pool Factors ({3} / {1}) | {4} | 0.0607 | 1.0000 | 1.0000 | 1.0000 | 0.8544 |
II. | MONTHLY PERIOD AND CUMULATIVE NUMBER OF RECEIVABLES CALCULATION: |
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| Cumulative | Period |
{5} | Beginning Number of Receivables |
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| {5} | 67,616 | 64,296 | ||||||
{6} | Number of Subsequent Receivables Purchased |
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| {6} | 0 | 0 | ||||||
{7} | Number of Receivables Defaulted During Period |
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| {7} | 232 | 147 | |||||||
{8} | Number of Receivables Becoming Purchased Receivables During Period |
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| {8} | 43 | 2 | |||||||
{9} | Number of Receivables Paid Off During Period |
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| {9} | 4,198 | 1,004 | ||||||
{10} | Ending Number of Receivables |
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| {10} | 63,143 | 63,143 | ||||||
III. | STATISTICAL DATA (CURRENT AND HISTORICAL) |
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| Original | Prev. Month | Current |
{11} | Weighted Average APR of the Receivables | {11} | 12.58% | 12.58% | 12.58% | ||||||
{12} | Weighted Average Remaining Term of the Receivables | {12} | 61.24 | 58.68 | 57.81 | ||||||
{13} | Weighted Average Original Term of Receivables | {13} | 65.09 | 65.09 | 65.09 | ||||||
{14} | Average Receivable Balance | {14} | 17,002.36 | 16,309.55 | 16,095.83 | ||||||
IV. | DELINQUENCY |
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Receivables with Scheduled Payment Delinquent |
| Units | Dollars | Percentage | |||||||||
{15} | 30-60 days | {15} | 1,747 | 28,176,401.75 | 2.69% | ||||||||
{16} | 61-90 days | {16} | 423 | 6,637,765.71 | 0.63% | ||||||||
{17} | 91-120 days | {17} | 118 | 1,867,470.63 | 0.18% | ||||||||
{18} | Receivables with Scheduled Payment Delinquent More Than 60 Days at the End of Period | {18} | 541 | 8,505,236.34 | 0.81% | ||||||||
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V. | PERFORMANCE TESTS: |
Delinquency Ratio: |
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{19} | Receivables with Scheduled Payment Delinquent More Than 61 Days at the End of Period (line {18}) | {19} | 8,505,236.34 |
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{20} | Beginning of Period Principal Balance | {20} | 1,049,016,244.42 |
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{21} | Delinquency Ratio ({16} + {17} divided by {20}) | {21} |
| 0.81% | |
{22} | Previous Monthly Period Delinquency Ratio | {22} |
| 0.61% | |
{23} | Second Previous Monthly Period Delinquency Ratio | {23} |
| 0.47% | |
{24} | 3 Month Average Delinquency Ratio (({21} + {22} +{23}) / 3) | {24} |
| 0.63% | |
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| Compliance with Reserve Account Increase Condition Trigger? Three Month Average Delinquency Ratio for Period 4 < 5.50%? |
| Yes |
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| Is there a Reserve Account Increase Condition? |
| No |
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| Compliance with Insurance Agreement Event of Default Trigger? Three Month Average Delinquency Ratio for Period 4 < 6.50%? |
| Yes |
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Cumulative Net Charge-off Rate: |
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{25} | Net Losses since the Initial Cut-off Date (Beginning of Period) | {25} |
| 805,759.16 | |
{26} | Receivables becoming Defaulted Receivables during period | {26} | 2,222,626.76 |
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{27} | Cram Down Losses and other non-cash adjustments occurring during period | {27} | 965.30 |
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{28} | Liquidation Proceeds collected during period | {28} | 954,038.45 |
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{29} | Net Losses during period ({26} + {27} - {28}) | {29} | 1,269,553.61 |
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{30} | Net Losses since Initial Cut-off Date (End of Period) | {30} |
| 2,075,312.77 | |
{31} | Cumulative Net Loss Ratio (({30}) / (Original Aggregrate Principal Balance ) | {31} |
| 0.18% | |
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| Compliance with Reserve Account Increase Condition Trigger? Cumulative Net Loss Ratio for Period 4 < 4.00%? |
| Yes |
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| Is there a Reserve Account Increase Condition? |
| No |
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| Compliance with Insurance Agreement Event of Default Trigger? Cumulative Net Loss Ratio for Period 4 < N/A? |
| Yes |
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Extension Rate: |
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{32} | Number of Receivables extended during current period | {32} | 285 |
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{33} | Beginning of Period Loans Outstanding | {33} | 64,296 |
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{34} | Extension Rate ({32} / {33}) | {34} |
| 0.44% |
{35} | Previous Monthly Extension Rate | {35} |
| 0.27% |
{36} | Second previous Monthly Extension Rate | {36} |
| 0.19% |
{37} | Average Extension Rate (({34} + {35} + {36}) / 3) | {37} |
| 0.30% |
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| Compliance with Extension Test? (Pass is an Average Extension Rate less than 4%) |
| Yes |
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