-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NFKVDMLraVUHjJZaA9POIlzyQMK9qyZFqjEeM5dOzHQJ1958S0npgkCyEpF5Vj5w J7AKLn6Rgqr0LtDFsFiQEQ== 0000038009-06-000011.txt : 20060118 0000038009-06-000011.hdr.sgml : 20060118 20060118165202 ACCESSION NUMBER: 0000038009-06-000011 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20051231 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060118 DATE AS OF CHANGE: 20060118 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Ford Credit Auto Owner Trust 2005-C CENTRAL INDEX KEY: 0001339370 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-89048-06 FILM NUMBER: 06536024 BUSINESS ADDRESS: STREET 1: ONE AMERICAN ROAD CITY: DEARBORN STATE: MI ZIP: 48126 BUSINESS PHONE: 3135947765 8-K 1 fcaotdecember2005c8k.txt FCAOT DECEMBER 2005-C 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ------------------------ FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) December 31, 2005 FORD CREDIT AUTO OWNER TRUST 2005-C (Ford Credit Auto Receivables Two LLC) --------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 333-89048-06 35-6739874 - ------------------------ ----------------------- ---------- (State or other juris- (Commission File Number) (IRS Employer diction of incorporation Identification No.) One American Road, Dearborn, Michigan 48126 - ---------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code 313-322-3000 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 140.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 8.01 Other Events. - ------------------------ The Monthly Servicing Report relating to the Ford Credit Auto Owner Trust 2005-C for the Collection Period ended December 31, 2005, is attached hereto as Exhibit 19 and is incorporated herein by reference. Item 9.01 Financial Statements and Exhibits. - --------------------------------------------- EXHIBIT ------- Designation Description Method of Filing - ----------- ----------- ---------------- Exhibit 19 Ford Credit Auto Owner Filed with this Report. Trust 2005-C Servicing Report for the Collection Period ended December 31, 2005. -2- SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Ford Credit Auto Receivables Two LLC (Registrant) Date: January 15, 2006 By:/s/ J. P. Topolski --------------------------------- Assistant Secretary Ford Motor Credit Company as Servicer EXHIBIT INDEX ------------- Designation Description - ----------- ----------- Exhibit 19 Ford Credit Auto Owner Trust 2005-C Servicing Report for the Collection Period ended December 31, 2005. -3- EX-19 2 exhibit19.txt EXHIBIT 19 Exhibit 19 Ford Credit Auto Owner Trust 2005-C Monthly Servicing Report
Collection Period December, 2005 Distribution Date 1/17/2006 Transaction Month 4 I. ORIGINAL DEAL PARAMETERS --------------------------- Dollar Amount # of Contracts Original Portfolio: $2,149,999,792.14 111,210 Original Securities: Dollar Amount Coupon Legal Final Maturity Class A-1 Notes $363,000,000.00 3.951% June 15, 2006 Class A-2 Notes 657,000,000.00 4.240% March 15, 2008 Class A-3 Notes 618,000,000.00 4.300% August 15, 2009 Class A-4 Notes 273,121,000.00 4.360% June 15, 2010 Class B Notes 60,351,000.00 4.520% September 15, 2010 Class C Notes 40,234,000.00 4.720% February 15, 2011 Class D Notes 40,234,000.00 6.760% March 15, 2012 ------------- Total $2,051,940,000.00 II. COLLECTIONS --------------- Interest: Simple Interest Loans Precomputed Loans Total Interest Collections $7,791,264.53 $0.00 $7,791,264.53 Repurchased Loan Proceeds Related to Interest 2,677.53 0.00 2,677.53 -------- ---- -------- Total $7,793,942.06 $0.00 $7,793,942.06 Servicer Advances: Principal Advances $0.00 $0.00 $0.00 Interest Advances 1,666,419.18 0.00 1,666,419.18 ------------ ---- ------------ Total $1,666,419.18 $0.00 $1,666,419.18 Principal: Principal Collections $38,639,358.17 $0.00 $38,639,358.17 Prepayments in Full 23,582,789.89 0.00 23,582,789.89 Prepayments in Full Due to Administrative Repurchases 0.00 0.00 0.00 Repurchased Loan Proceeds Related to Principal 72,005.90 0.00 72,005.90 Payahead Draws 0.00 0.00 0.00 ---- ---- ---- Total $62,294,153.96 $0.00 $62,294,153.96 Liquidation Proceeds $565,516.94 Recoveries from Prior Month Charge-Offs 767.48 ------ Total Principal Collections $62,860,438.38 Principal Losses for Collection Period $948,537.65 Total Regular Principal Reduction $63,242,691.61 Total Collections $72,320,799.62 III. FUNDS AVAILABLE FOR DISTRIBUTION ------------------------------------- Total Collections $72,320,799.62 Reserve Account Release 0.00 Reserve Account Draw 0.00 Clean-up Call 0.00 ---- Total $72,320,799.62 Page 1 Ford Credit Auto Owner Trust 2005-C Monthly Servicing Report Collection Period December, 2005 Distribution Date 1/17/2006 Transaction Month 4 IV. DISTRIBUTIONS ----------------- Servicing Fee: Amount Due Amount Paid Shortfall Total Amount $1,602,954.58 $1,602,954.58 $0.00 Amount per $1,000 of Original Balance 0.78 0.78 0.00 Change in Noteholders Interest: Amount Due Amount Paid Shortfall Carryover Shortfall Carryover Shortfall Class A1 Notes $468,604.68 $468,604.68 $0.00 $0.00 $0.00 Class A2 Notes 2,321,400.00 2,321,400.00 0.00 0.00 0.00 Class A3 Notes 2,214,500.00 2,214,500.00 0.00 0.00 0.00 Class A4 Notes 992,339.63 992,339.63 0.00 0.00 0.00 Class B Notes 227,322.10 227,322.10 0.00 0.00 0.00 Class C Notes 158,253.73 158,253.73 0.00 0.00 0.00 Class D Notes $226,651.53 $226,651.53 $0.00 $0.00 $0.00 ----------- ----------- ----- ----- ----- Total Note Interest: $6,609,071.67 $6,609,071.67 $0.00 $0.00 $0.00 Total Available for Principal Distribution $64,108,773.37 Principal Distribution Amounts First Priority Distribution Amount $0.00 Second Priority Distribution Amount 0.00 Third Priority Distribution Amount 36,397,608.34 Regular Principal Distribution Amount 93,000,766.56 ------------- Principal Distribution Amount $129,398,374.90 Noteholder Principal Distributions: Class A1 Notes $64,108,773.37 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 Class D Notes $0.00 ----- Total Note Principal Paid $64,108,773.37 Collections Released to Seller $0.00 Reserve Release $0.00 Total Available for Distribution $72,320,799.62 Total Distribution (incl. Servicing Fee) $72,320,799.62 Page 2 Ford Credit Auto Owner Trust 2005-C Monthly Servicing Report Collection Period December, 2005 Distribution Date 1/17/2006 Transaction Month 4 V. DISTRIBUTION PER $1,000 OF ORIGINAL BALANCE ---------------------------------------------- Principal Interest Total Distribution Distribution Distribution Class A1 Notes $176.61 $1.29 $177.90 Class A2 Notes 0.00 3.53 3.53 Class A3 Notes 0.00 3.58 3.58 Class A4 Notes 0.00 3.63 3.63 Class B Notes 0.00 3.77 3.77 Class C Notes 0.00 3.93 3.93 Class D Notes $0.00 $5.63 $5.63 ----- ----- ----- Total Notes $31.24 $3.22 $34.46 VI. POOL BALANCE AND PORTFOLIO INFORMATION ------------------------------------------ Beginning of Period End of Period Balance Pool Factor Balance Pool Factor Class A1 Notes 129,398,374.90 0.3564694 65,289,601.53 0.1798612 Class A2 Notes 657,000,000.00 1.0000000 657,000,000.00 1.0000000 Class A3 Notes 618,000,000.00 1.0000000 618,000,000.00 1.0000000 Class A4 Notes 273,121,000.00 1.0000000 273,121,000.00 1.0000000 Class B Notes 60,351,000.00 1.0000000 60,351,000.00 1.0000000 Class C Notes 40,234,000.00 1.0000000 40,234,000.00 1.0000000 Class D Notes 40,234,000.00 1.0000000 40,234,000.00 1.0000000 ------------- --------- ------------- --------- Total $1,818,338,374.90 0.8861557 $1,754,229,601.53 0.8549127 Portfolio Information Weighted Average Coupon (WAC) 5.88% 5.87% Weighted Average Remaining Maturity (WAM) 49.89 49.02 Remaining Number of Receivables 104,101 102,273 Portfolio Receivable Balance $1,923,545,490.94 $1,860,302,799.33 VII. OVERCOLLATERALIZATION INFORMATION -------------------------------------- Specified Overcollateralization Amount $7,853,029.03 Specified Credit Enhancement Amount $18,603,027.99 Yield Supplement Overcollateralization Amount $118,596,032.77 Target Level of Overcollateralization $126,449,061.80 Page 3 Ford Credit Auto Owner Trust 2005-C Monthly Servicing Report Collection Period December, 2005 Distribution Date 1/17/2006 Transaction Month 4 VIII. RECONCILIATION OF RESERVE ACCOUNT --------------------------------------- Beginning Reserve Account Balance $10,749,998.96 Specified Reserve Account Balance 10,749,998.96 Reserve Release Amount 0.00 Reserve Account Draws 0.00 Interim Reserve Account Balance 10,749,998.96 Reserve Account Deposits Made 0.00 ---- Ending Reserve Account Balance $10,749,998.96 Change in Reserve Account Balance $0.00 IX. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY --------------------------------------------- Liquidation Proceeds $565,516.94 Recoveries from Prior Month Charge-Offs $767.48 Total Principal Losses for Collection Period $948,537.65 Charge-off Rate for Collection Period (annualized) 0.24% Cumulative Net Losses for all Periods $722,841.14 Delinquent Receivables: # of Contracts Amount 31-60 Days Delinquent 810 $15,299,978.40 61-90 Days Delinquent 70 $1,299,099.40 91-120 Days Delinquent 17 $421,860.68 Over 120 Days Delinquent 9 $214,917.59 Repossesion Inventory 76 $1,494,139.45 Ratio of Net Losses to the Average Pool Balance: Second Preceding Collection Period 0.0707% Preceding Collection Period 0.1337% Current Collection Period 0.2425% Three Month Average 0.1489% Ratio of 60+ Delinquent Contracts to Outstanding Receivables: Preceding Collection Period 0.0692% Current Collection Period 0.0939% Three Month Average 0.0653% Page 4 Ford Credit Auto Owner Trust 2005-C Monthly Servicing Report Collection Period December, 2005 Distribution Date 1/17/2006 Transaction Month 4 Worksheet Information --------------------- Servicer Advances Simple Interest Loans Precomputed Loans Beginning Servicer Advances $2,865,064.03 $0.00 New Advances 1,648,353.04 0.00 Servicer Advance Recoveries 1,142,593.59 0.00 ------------ ---- Ending Servicer Advances $3,370,823.48 $0.00 Current Month Interest Advances for Prepaid Loans $18,066.14 $0.00 Payahead Account Beginning Payahead Account Balance $0.00 Additional Payaheads 0.00 Payahead Draws 0.00 ---- Ending Payahead Account Balance $0.00
Page 5 -----END PRIVACY-ENHANCED MESSAGE-----