-----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, J55hi8udkgD88qQcosEYwdLkpDvOwp7oOXndpqvEiY8x+fIJlEyxOt816705zwCX FX1FpmFVotPhyOidE1k3OA== 0000950124-06-006194.txt : 20061027 0000950124-06-006194.hdr.sgml : 20061027 20061027123732 ACCESSION NUMBER: 0000950124-06-006194 CONFORMED SUBMISSION TYPE: 10-D PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060930 FILED AS OF DATE: 20061027 DATE AS OF CHANGE: 20061027 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FORD CREDIT AUTO OWNER TRUST 2006-B CENTRAL INDEX KEY: 0001373532 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-D SEC ACT: 1934 Act SEC FILE NUMBER: 333-131003-02 FILM NUMBER: 061168026 BUSINESS ADDRESS: STREET 1: ONE AMERICAN ROAD CITY: DEARBORN STATE: MI ZIP: 48126 BUSINESS PHONE: 3135947765 10-D 1 k09452e10vd.txt ASSET-BACKED ISSUER UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-D ASSET-BACKED ISSUER DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the monthly distribution period from September 1, 2006 to September 30, 2006 Commission File Number of issuing entity: 333-131003-02 Ford Credit Auto Owner Trust 2006-B (Exact name of issuing entity as specified in its charter) Commission File Number of depositor: 333-131003 Ford Credit Auto Receivables Two LLC (Exact name of depositor as specified in its charter) Ford Motor Credit Company (Exact name of sponsor as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization of the issuing entity) 41-6547775 (I.R.S. Employer Identification No.) C/O U.S. Bank Trust National Association 300 Delaware Avenue, 9th Floor, Wilmington, Delaware 19801 (Address of principal executive offices (Zip Code) of the issuing entity)
(302) 552-3200 (Telephone number, including area code) Registered/reporting pursuant to (check one)
Name of exchange Title of class Section 12(b) Section 12(g) Section 15(d) (If Section 12(b)) - -------------- ------------- ------------- ------------- ------------------ Class A-2a notes x Class A-2b notes x Class A-3 notes x Class A-4 notes x Class B notes x Class C notes x
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No ----- ----- PART I - DISTRIBUTION INFORMATION Item 1. Distribution and Pool Performance Information. Distribution and performance information of the asset pool of the issuing entity is set forth in the attached Monthly Investor Report. PART II OTHER INFORMATION Item 9. Exhibits. EXHIBITS
Designation Description - ----------- ----------- Exhibit 99 Ford Credit Auto Owner Trust 2006-B Monthly Investor Report
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 thereunto duly authorised. FORD CREDIT AUTO OWNER TRUST 2006-B (Issuing entity) By: Ford Motor Credit Company (Servicer) Date: October 27, 2006 /s/ Q. Gwynn Lam ---------------------------------------- Q. Gwynn Lam Assistant Secretary 3 EXHIBIT INDEX
Designation Description - ----------- ----------- Exhibit 99 Ford Credit Auto Owner Trust 2006-B Monthly Investor Report
4 EX-99 2 k09452exv99.txt FORD CREDIT AUTO OWNER TRUST 2006-B MONTHLY INVESTOR REPORT FORD CREDIT AUTO OWNER TRUST 2006-B MONTHLY INVESTOR REPORT Collection Period September, 2006 Payment Date 10/16/2006 Transaction Month 2 Additional information about the structure, cashflows, defined terms and parties for this transaction can be found in the prospectus supplement, available on the SEC website (http://www.sec.gov) under the registration number 333-131003 and at http://www.fordcredit.com/institutionalinvestments/index.jhtml. I. ORIGINAL DEAL PARAMETERS
WEIGHTED # OF AVG REMAINING DOLLAR AMOUNT RECEIVABLES TERM AT CUTOFF ----------------- ---------------------- ------------------ Initial Pool Balance $3,149,999,909.60 154,834 52 months
LEGAL DOLLAR AMOUNT NOTE INTEREST RATE FINAL MATURITY ----------------- ---------------------- ------------------ Original Securities: Class A-1 Notes $ 657,000,000.00 5.4048% September 15, 2007 Class A-2 A Notes $ 470,000,000.00 5.420% July 15, 2009 Class A-2 B Notes $ 470,000,000.00 one-month LIBOR + 0.02% July 15, 2009 Class A-3 Notes $ 730,000,000.00 5.260% October 15, 2010 Class A-4 Notes $ 438,560,000.00 5.250% September 15, 2011 Class B Notes $ 87,333,000.00 5.430% February 15, 2012 Class C Notes $ 58,222,000.00 5.680% June 15, 2012 Class D Notes $ 58,222,000.00 7.120% February 15, 2013 ----------------- Total $2,969,337,000.00
II. AVAILABLE FUNDS INTEREST: Interest Collections $ 14,354,895.65 PRINCIPAL: Principal Collections $ 54,943,762.46 Prepayments in Full $ 41,384,332.81 Liquidation Proceeds $ 385,672.56 Recoveries $ 0.00 ------------------ SUB TOTAL $ 96,713,767.83 ------------------ COLLECTIONS $ 111,068,663.48 PURCHASE AMOUNTS: Purchase Amounts Related to Principal $ 518,387.30 Purchase Amounts Related to Interest $ 2,421.71 ------------------ SUB TOTAL $ 520,809.01 Clean-up Call $ 0.00 ------------------ AVAILABLE COLLECTIONS $ 111,589,472.49 Reserve Account Draw Amount $ 0.00 Net Swap Receipt - Tranche A-2b $ 46,347.22 ------------------ AVAILABLE FUNDS $ 111,635,819.71
Page 1 FORD CREDIT AUTO OWNER TRUST 2006-B MONTHLY INVESTOR REPORT Collection Period September, 2006 Payment Date 10/16/2006 Transaction Month 2 III. DISTRIBUTIONS
CALCULATED CARRYOVER REMAINING AVAILABLE FUNDS AMOUNT AMOUNT PAID SHORTFALL SHORTFALL AVAILABLE FUNDS - --------------- --------------- --------------- --------- --------- --------------- Owner Trustee Fees and Expenses $ 0.00 $ 0.00 $0.00 $0.00 $111,635,819.71 Indenture Trustee Fees and $ 0.00 $ 0.00 $0.00 $0.00 $111,635,819.71 Servicing Fee $ 2,532,479.58 $ 2,532,479.58 $0.00 $0.00 $109,103,340.13 Net Swap Payment - Tranche A-2 B $ 0.00 $ 0.00 $0.00 $0.00 $109,103,340.13 Interest - Class A-1 Notes $ 2,514,358.65 $ 2,514,358.65 $0.00 $0.00 $106,588,981.48 Interest - Class A-2 A Notes $ 2,122,833.33 $ 2,122,833.33 $0.00 $0.00 $104,466,148.15 Interest - Class A-2 B Notes $ 2,165,263.89 $ 2,165,263.89 $0.00 $0.00 $102,300,884.26 Interest - Class A-3 Notes $ 3,199,833.33 $ 3,199,833.33 $0.00 $0.00 $ 99,101,050.93 Interest - Class A-4 Notes $ 1,918,700.00 $ 1,918,700.00 $0.00 $0.00 $ 97,182,350.93 Swap Termination Payment $ 0.00 $ 0.00 $0.00 $0.00 $ 97,182,350.93 First Priority Principal Payment $ 0.00 $ 0.00 $0.00 $0.00 $ 97,182,350.93 Interest - Class B Notes $ 395,181.83 $ 395,181.83 $0.00 $0.00 $ 96,787,169.10 Second Priority Principal Payment $ 17,953,868.90 $ 17,953,868.90 $0.00 $0.00 $ 78,833,300.20 Interest - Class C Notes $ 275,584.13 $ 275,584.13 $0.00 $0.00 $ 78,557,716.07 Third Priority Principal Payment $ 58,222,000.00 $ 58,222,000.00 $0.00 $0.00 $ 20,335,716.07 Interest - Class D Notes $ 345,450.53 $ 345,450.53 $0.00 $0.00 $ 19,990,265.54 Reserve Account Deposit $ 0.00 $ 0.00 $0.00 $0.00 $ 19,990,265.54 Regular Principal Payment $464,066,206.74 $ 19,990,265.54 $0.00 $0.00 $ 0.00 Additional Trustee Fees and $ 0.00 $ 0.00 $0.00 $0.00 $ 0.00 Residual Released to Depositor $ 0.00 $ 0.00 $0.00 $0.00 $ 0.00 --------------- TOTAL $111,635,819.71
PRINCIPAL PAYMENT: First Priority Principal Payment $ 0.00 Second Priority Principal Payment $17,953,868.90 Third Priority Principal Payment $58,222,000.00 Regular Principal Payment $19,990,265.54 -------------- TOTAL $96,166,134.44
IV. NOTEHOLDER PAYMENTS
NOTEHOLDER PRINCIPAL PAYMENTS NOTEHOLDER INTEREST PAYMENTS TOTAL PAYMENT ------------------------------ ------------------------------ ------------------------------- PER $1,000 OF PER $1,000 OF PER $1,000 OF ORIGINAL ORIGINAL ORIGINAL ACTUAL BALANCE ACTUAL BALANCE ACTUAL BALANCE -------------- ------------- -------------- ------------- --------------- ------------- Class A-1 Notes $96,166,134.44 $146.37 $ 2,514,358.65 $3.83 $ 98,680,493.09 $150.20 Class A-2 A Notes $ 0.00 $ 0.00 $ 2,122,833.33 $4.52 $ 2,122,833.33 $ 4.52 Class A-2 B Notes $ 0.00 $ 0.00 $ 2,165,263.89 $4.61 $ 2,165,263.89 $ 4.61 Class A-3 Notes $ 0.00 $ 0.00 $ 3,199,833.33 $4.38 $ 3,199,833.33 $ 4.38 Class A-4 Notes $ 0.00 $ 0.00 $ 1,918,700.00 $4.38 $ 1,918,700.00 $ 4.38 Class B Notes $ 0.00 $ 0.00 $ 395,181.83 $4.53 $ 395,181.83 $ 4.53 Class C Notes $ 0.00 $ 0.00 $ 275,584.13 $4.73 $ 275,584.13 $ 4.73 Class D Notes $ 0.00 $ 0.00 $ 345,450.53 $5.93 $ 345,450.53 $ 5.93 -------------- ------- -------------- ----- --------------- ------- TOTAL $96,166,134.44 $ 32.39 $12,937,205.69 $4.36 $109,103,340.13 $ 36.74
Page 2 FORD CREDIT AUTO OWNER TRUST 2006-B MONTHLY INVESTOR REPORT Collection Period September, 2006 Payment Date 10/16/2006 Transaction Month 2 V. NOTE BALANCE AND POOL INFORMATION
BEGINNING OF END OF PERIOD PERIOD BALANCE NOTE FACTOR BALANCE NOTE FACTOR ----------------- ----------------- ----------------- ----------------- Class A-1 Notes $ 540,242,075.64 0.8222863 $ 444,075,941.20 0.6759147 Class A-2 A Notes $ 470,000,000.00 1.0000000 $ 470,000,000.00 1.0000000 Class A-2 B Notes $ 470,000,000.00 1.0000000 $ 470,000,000.00 1.0000000 Class A-3 Notes $ 730,000,000.00 1.0000000 $ 730,000,000.00 1.0000000 Class A-4 Notes $ 438,560,000.00 1.0000000 $ 438,560,000.00 1.0000000 Class B Notes $ 87,333,000.00 1.0000000 $ 87,333,000.00 1.0000000 Class C Notes $ 58,222,000.00 1.0000000 $ 58,222,000.00 1.0000000 Class D Notes $ 58,222,000.00 1.0000000 $ 58,222,000.00 1.0000000 ----------------- --------- ----------------- --------- TOTAL $2,852,579,075.64 0.9606788 $2,756,412,941.20 0.9282924 POOL INFORMATION Weighted Average APR 5.763% 5.735% Weighted Average Remaining Term 55.60 54.76 Number of Receivables Outstanding 151,178 147,495 Pool Balance $3,038,975,491.87 $2,941,511,036.17 Adjusted Pool Balance (Pool Balance - YSOC Amount) $2,807,934,229.81 $2,718,181,206.74 Pool Factor 0.9647542 0.9338131
VI. OVERCOLLATERALIZATION INFORMATION Specified Reserve Balance $ 15,749,999.55 Targeted Credit Enhancement Amount $ 29,415,110.36 Yield Supplement Overcollateralization Amount $ 223,329,829.43 Targeted Overcollateralization Amount $ 236,994,940.24 Actual Overcollateralization Amount (EOP Pool Balance -EOP Note Balance) $ 185,098,094.97
VII. RECONCILIATION OF RESERVE ACCOUNT Beginning Reserve Account Balance $ 15,749,999.55 Reserve Account Deposits Made 0.00 Reserve Account Draw Amount 0.00 ----------------- Ending Reserve Account Balance $ 15,749,999.55 Change in Reserve Account Balance $0.00 Specified Reserve Balance $ 15,749,999.55
Page 3 FORD CREDIT AUTO OWNER TRUST 2006-B MONTHLY INVESTOR REPORT Collection Period September, 2006 Payment Date 10/16/2006 Transaction Month 2 VIII. NET LOSSES AND DELINQUENT RECEIVABLES
# OF RECEIVABLES AMOUNT ----------- -------------- Realized Loss 502 $ 232,300.57 (Recoveries) 0 $ 0.00 -------------- NET LOSSES FOR CURRENT COLLECTION PERIOD $ 232,300.57 Cumulative Net Losses Last Collection $ 3,352.20 -------------- CUMULATIVE NET LOSSES FOR ALL COLLECTION PERIODS $ 235,652.77 Ratio of Net Losses for Current Collection Period to Beginning of Period Pool Balance (annualized) 0.09%
DELINQUENT RECEIVABLES:
% OF # OF EOP POOL RECEIVABLES AMOUNT -------- ----------- -------------- 31-60 Days Delinquent 0.75% 1,038 $22,144,705.02 61-90 Days Delinquent 0.05% 66 $ 1,519,948.66 91-120 Days Delinquent 0.00% 2 $ 72,830.94 Over 120 Days Delinquent 0.00% 0 $ 0.00 ----- ----- -------------- TOTAL DELINQUENT RECEIVABLES 0.78% 1,106 $23,737,484.62 REPOSSESION INVENTORY: Repossesed in the Current Collection Period 77 $1,531,637.58 Total Repossesed Inventory 75 $1,651,175.20 RATIO OF NET LOSSES TO THE AVERAGE POOL BALANCE FOR THE COLLECTION PERIOD: Second Preceding Collection Period 0.0000% Preceding Collection Period 0.0013% Current Collection Period 0.0932% Three Month Average 0.0000% NUMBER OF 61+ DELINQUENT RECEIVABLES TO EOP NUMBER OF OUTSTANDING RECEIVABLES: Second Preceding Collection Period 0.0000% Preceding Collection Period 0.0013% Current Collection Period 0.0461% Three Month Average 0.0000%
Page 4 -----END PRIVACY-ENHANCED MESSAGE-----