EXHIBIT 13
TMS AUTO RECEIVABLES TRUST 1996-1
$45,100,000 Class A-1 5.6375% Money Store Asset Backed Notes
$90,000,000 Class A-2 Floating Rate Asset Backed Notes
$57,900,000 Class A-3 6.85% Asset Backed Notes
$7,000,000 7.1% Asset Backed Certificates
THE SALE AND SERVICING AGREEMENT DATED AS OF MAY 31,
1996, THE MONEY STORE AUTO FINANCE INC.
REPORTS THE FOLLOWING INFORMATION PERTAINING
as of or for the year ended December 31, 1996
A. Information Regarding Monthly Distribution :
I. NOTES
(a) The aggregate amount of the distribution to
Noteholders' from the Collection Account with respect to:
Class A-1 Notes 35,700,391.65
Class A-2 Notes 2,903,138.56
Class A-3 Notes 2,269,519.17
(b) The amount of the distribution set forth in A. 1. (a)
above in respect of interest from the Collection Account:
Class A-1 Notes 1,035,485.46
Class A-2 Notes 2,903,138.56
Class A-3 Notes 2,269,519.17
(c) The amount of the distribution set forth in A. 1. (a)
above in respect of principal from the Collection Account:
Class A-1 Notes 34,664,906.19
Class A-2 Notes 0.00
Class A-3 Notes 0.00
(d) The amount of such distribution payable out of amounts
withdrawn from the Spread Account or pursuant to a claim
on the Policy (Deficiency Claim Amount) with respect to:
Class A-1 Notes 0.00
Class A-2 Notes 0.00
Class A-3 Notes 0.00
(e) The amount of the distribution set forth in A. 1. (a)
above per $1,000 interest with respect to:
Class A-1 Notes 791.5829634
Class A-2 Notes 32.2570951
Class A-3 Notes 39.1972223
(f) The amount of the distribution set forth in A. 1. (b)
above per $1,000 interest with respect to:
Class A-1 Notes 22.9597663
Class A-2 Notes 32.2570951
Class A-3 Notes 39.1972223
(g) The amount of the distribution set forth in A. 1. (c)
above per $1,000 interest with respect to:
Class A-1 Notes 768.6231971
Class A-2 Notes 0.0000000
Class A-3 Notes 0.0000000
(h) The amount of the distribution set forth in A. 1. (d)
above per $1,000 interest with respect to:
Class A-1 Notes 0.0000000
Class A-2 Notes 0.0000000
Class A-3 Notes 0.0000000
( 1 )
A. Information Regarding Monthly Distribution:
II. CERTIFICATES
(a) The aggregate amount of the distribution to
Certificateholders' from the Collection Account:
289,916.69
(b) The amount of the distribution set forth in A. II. (a)
above in respect of interest from the Collection Account:
Certificates 289,916.69
(c) The amount of the distribution set forth in A. II. (a)
above in respect of principal from the Collection Account:
Certificates 0.00
(d) The amount of such distribution payable out of amounts
withdrawn from the Spread Account or pursuant to a claim
on the Policy (Deficiency Claim Amount) with respect to:
Certificates 0.00
(e) The amount of the distribution set forth in A. II. (a)
above per $1,000 interest with respect to:
Certificates 41.4166700
(f) The amount of the distribution set forth in A. II. (b)
above per $1,000 interest with respect to:
Certificates 41.4166700
(g) The amount of the distribution set forth in A. II. (c)
above per $1,000 interest with respect to:
Certificates 0.0000000
(h) The amount of the distribution set forth in A. II. (d)
above per $1,000 interest with respect to:
Certificates 0.0000000
B. Information Regarding the Performance of the Trust:
1. POOL, NOTE AND CERTIFICATE BALANCES
(a) The Pool Balance as of the close of business
on the last day of the preceding Monthly Period
165,335,093.81
(b) The Class Note Balances as of the close of business
on the last day of the preceding Monthly Period, after
giving effect to payments allocated to principal set
forth in Paragraph A. 1. (c) above wtih respect to:
Class A-1 Notes 10,435,093.81
Class A-2 Notes 90,000,000.00
Class A-3 Notes 57,900,000.00
(c) The Class Note Factor as of the close of business on the
last day of the preceding Monthly Period with respect
to:
Class A-1 Notes 231.3768029
Class A-2 Notes 1,000.0000000
Class A-3 Notes 1,000.0000000
(d) The Certificate Balances as of the close of business
on the last day of the preceding Monthly Period, after
giving effect to payments allocated to principal set
forth in Paragraph A. II (c) above wtih respect to:
Certificates 7,000,000.00
(e) The Certificate Factor as of the close of business on the
last day of the preceding Monthly Period with respect
to:
Certificates 1,000.0000000
( 2 )
2. SERVICING FEE
(a) The aggregate amount of the Servicing Fee paid to the
Servicer with respect to the preceding Monthly Period
from the Collection Account 2,663,943.04
(b) The amount of such Servicing Fee per $ 1,000 interest 13.3197152
(c) The amount of any unpaid Servicing Fee 0.00
(d) The change in the amount of any unpaid Servicing Fee
from the previous Distribution Date 0.00
3. OTHER FEES
(a) The aggregate amount of Trustee Fees paid to the Trustee
from the Collection Account 2,333.31
(b) The aggregate amount of Insurance Premium paid to the
Noteholders' Insurer from the Collection Account 255,213.84
(c) The aggregate amount of Insurance Premium paid to the
Certificateholders' Insurer from the Collection
Account 10,208.31
4. PAYMENT SHORTFALLS
(a) The amount of the Noteholders' Interest Carryover
Shortfall after
giving effect to the payments set forth in
Paragraph
A. 1. (b) above with respect to:
Class A-1 Notes 0.00
Class A-2 Notes 0.00
Class A-3 Notes 0.00
(b) The amount of such Interest Carryover Shortfall
per $1,000 Interest
Class A-1 Notes 0.0000000
Class A-2 Notes 0.0000000
Class A-3 Notes 0.0000000
(c) The change in the amount of the Interest Carryover
Shortfall
from the previous Distribution Date 0.00
(d) The amount of the Principal Carryover Shortfall after
giving effect to the payments set forth in
Paragraph
A. 1. (c) above 0.00
(e) The amount of such Principal Carryover Shortfall
per $1,000 Interest 0.0000000
(f) The change in the amount of the Principal Carryover
Shortfall
from the previous Distribution Date 0.00
(g) The amount of the Certificateholders' Interest
Carryover Shortfall after
giving effect to the payments set forth in
Paragraph
A. II (b) above with respect to: 0.00
Certificates 0.00
(h) The amount of such Interest Carryover Shortfall
per $1,000 Interest
Certificates 0.0000000
(i) The change in the amount of the Interest Carryover
Shortfall
from the previous Distribution Date 0.00
(j) The amount of the Principal Carryover Shortfall after
giving effect to the payments set forth in
Paragraph
A. II (c) above 0.00
(k) The amount of such Principal Carryover Shortfall
per $1,000 Interest 0.0000000
(l) The change in the amount of the Principal Carryover
Shortfall
from the previous Distribution Date 0.00
( 3 )
5. REALIZED LOSSES
(a) Realized Losses for the Period funded by the Spread
Account 2,526,232.11
1. Cram Down Losses 27,237.83
2. Losses on Liquidated Receivables 2,498,994.28
(b) Aggregate Realized Losses, if any,
1. Preceding Monthly Period 0.00
2. Second preceding Monthly Period 0.00
6. PURCHASE AMOUNTS
The aggregate Purchase Amounts for Receivables,
if any, that were repurchased in such period 0.00
7. PAYAHEAD ACCOUNT
(a) The aggregate Payahead Balance 270,765.55
(b) The change in the Payahead Balance from the
previous Distribution Date 13,467.76
(1) The aggregate Payaheads pursuant to Section 5.3
for the Monthly Period which were transferred from
the Collection Account to the Payahead Account. 77,841.65
(2) The portion of the Payaheads constituting Scheduled
Payments on PreComputed Receivables or the portion
that are applied to Prepay a PreComputed Receivable in
full pursuant to Section 5.3 which were transferred from
the Payahead Account to the Collection Account. 64,373.85
(c) The investment earnings on funds in the Payahead Account
(transferred from the Payahead to the Collection Account) and
remitted to the Seller as Supplemental Servicing Fee 4,000.69
8. SPREAD ACCOUNT
(a) The Spread Account balance after giving effect to
distributions made on such Distribution Date 13,226,807.50
(b) The change in the Spread Account balance on such
Distribution Date 6,226,845.86
(c) The Amount withdrawn from the Spread Account and
payable to the Certificateholders (Deficiency Claim Amount) 0.00
(d) The Amount withdrawn from the Spread Account and
payable to the Seller (Remaining Funds). 1,339,528.72
(e) The investment earnings on funds in the Spread Account
(transferred from the Spread to the Collection Account) and
remitted to the Seller as Supplemental Servicing Fee 201,107.88
9. THE POLICY
The amount distributable from the Policy and payable to the
Noteholders, after giving effect to withdrawals from the
Spread Account (Deficiency Claim Amount) 0.00
The amount distributable from the Policy and payable to the
Certificateholders, after giving effect to withdrawals from the
Spread Account (Deficiency Claim Amount) 0.00
10. THE NOTICES
(a) Pursuant to Section 5.4, there is a Deficiency Claim Amount of
$0.00 to be withdrawn from the Spread Account to fund the
amount payable on the related Distribution Date for items (i) thru
(vi) of Section 5.6 (b)
(b) Pursuant to Section 5A.1, there is a Deficiency Claim Amount of
$0.00 to be withdrawn from the Policy to fund the amount payable on the
related Distribution Date for items (i) thru (vi) of Section 5.6
(b)
( 4 )
11. TERMINATION OF TRUST
The amount to be distributed to the Noteholders from the Collection
Account pursuant to the Termination of the Trust ( Section 9.1)
0.00
The amount to be distributed to the Certificateholders from the Collection
Account pursuant to the Termination of the Trust ( Section 9.1)
0.00
12. PRE-FUND ACCOUNT
(a) The Pre-Fund Account balance after giving effect to
distributions made on such Distribution Date 0.00
(b) The Pre-Fund Account Balance per $ 1,000 interest
Class A-1 Notes 0.0000000
Class A-2 Notes 0.0000000
Class A-3 Notes 0.0000000
(c) The Amount withdrawn from the Pre-Fund Account and transferred
to the Collection Account (payable to the Noteholders) 1,095.74
(d) The amount of Pre-Fund Account distribution per $ 1,000
interest 0.0056774
(e) The interest earnings on funds in the Pre-Fund Account
(transferred from the Pre-Fund to the Collection Account) and
remitted to the Seller as Supplemental Servicing Fee 236,194.56
(f) The Pre-Fund Account Balance per $ 1,000 interest
Certificates 0.0000000
(g) The Amount withdrawn from the Pre-Fund Account and
transferred
to the Collection Account (payable to the
Certificateholders) 0.00
(h) The amount of Pre-Fund Account distribution per $ 1,000
interest 0.0000000
13. CAPITALIZED INTEREST ACCOUNT
(a) The Capitalized Interest Account balance after giving effect to
distributions made on such Distribution Date 0.00
(b) The Amount withdrawn from the Capitalized Interest Account
and transferred to the Collection Account (payable to the
Certificateholders and Noteholders) 230,172.25
(c) The Amount withdrawn from the Capitalized Interest Account
and transferred to the Collection Account (payable to the
Sellers) 189,019.48
(d) The interest earnings on funds in the Capitalized Interest Account
(transferred from the Capitalized Interest to the Collection
Account) and remitted to the Seller as Supplemental Servicing Fee
2,710.90
14. OTHER INFORMATION I
Pursuant to Section 4.9 (b) (i)
(a) Delinquency Ratio 4.0313%
(b) Average Delinquency Ratio 4.1007%
(c) Default Rate 13.5585%
(d) Average Default Rate 11.2387%
(e) Net Loss Rate 3.9854%
( f) Average Net Loss Rate 4.9329%
Pursuant to Section 4.9 (b) (ii)
Trigger Event occurred as of NO
Pursuant to Section 4.9 (b) (iii)
Prior Trigger Event Deemed Cured as of 1/13/97 YES
Pursuant to Section 4.9 (b) (iv)
Insurance Agreement Event of Default NO
Weighted Average Coupon Rate 19.480%
Weighted Average Remaining Terms 45.540
**NOTE** Pursuant to Section 5.2 (b)
Amount deposited into the Collection Account due to
mistaken deposits, postings or checks returned for
insufficient funds to be reimbursed to the Servicer 0.00
( 5 )
15. OTHER INFORMATION - II
i. Amounts collected by the Servicer 51,661,039.15
ii. Aggregate amount received by the Trust
from the Servicer. (exclusive of amounts in the
Spread Account, amounts received from the
Certificate Insurer and advances by the
Servicer). 51,661,039.15
iii. Reimbursements to the Certificate Insurer 0.00
iv. Amount drawn on the Policy 0.00
v. Remaining outstanding balance available
to be drawn under the Policy: 0.00
vi.. Delinquency information:
Receivables that are 30 Days Delinquent 4,748,100.01
Receivables that are 60 Days Delinquent 1,100,443.96
Receivables that are 90 Days Delinquent 634,568.55
