EX-99 3 a96412exv99.txt EXHIBIT 99 EXHIBIT 99 TRIAD AUTOMOBILE RECEIVABLES TRUST 2002-A Class A-1 1.72313% Asset Backed Notes Class A-2 1.99% Asset Backed Notes Class A-3 2.62% Asset Backed Notes Class A-4 3.24% Asset Backed Notes SCHEDULE B - SERVICER'S CERTIFICATE This Servicer's Certificate has been prepared pursuant to Section 4.9 of the Sale and Servicing Agreement among Triad Automobile Receivables Trust 2002-A, as Issuer, Triad Financial Corporation, as Servicer and Custodian, Triad Financial Special Purpose LLC, as Seller, and JPMorgan Chase Bank, as the Backup Servicer and Indenture Trustee, dated as of August 1, 2002. Defined terms have the meanings assigned to them in the Sale and Servicing Agreement or in other Transaction Documents. The undersigned hereby certifies that no Trigger Event has occurred on the related Determination Date and that, to the knowledge of the Servicer, no Insurance Agreement Event of Default has occurred. COLLECTION PERIOD BEGINNING: 1/1/2004 COLLECTION PERIOD ENDING: 1/31/2004 PREV. DISTRIBUTION/CLOSE DATE: 1/12/2004 DISTRIBUTION DATE: 2/12/2004 DAYS OF INTEREST FOR PERIOD: 31 DAYS OF COLLECTION PERIOD 31 MONTHS SEASONED: 18

I. ORIGINAL DEAL PARAMETERS

II. COLLECTION PERIOD RECEIVABLES PRINCIPAL BALANCE CALCULATION: (1) Beginning of period Aggregate Principal Balance (1) 527,610,188.39 --------------- (2) Subsequent Receivables Added (2) -- --------------- Monthly Principal Amounts (3) Principal Portion of Scheduled Payments Received (3) 8,610,364.80 ------------- (4) Principal Portion of Prepayments Received (4) 5,844,251.83 ------------- (5) Principal Portion of Liquidated Receivables (5) 6,505,402.51 ------------- (6) Aggregate Amount of Cram Down Losses (6) -- ------------- (7) Other Receivables adjustments (7) -- ------------- (8) Total Principal Distributable Amounts (8) 20,960,019.14 --------------- (9) End of Period Aggregate Principal Balance (9) 506,650,169.25 =============== (10) Pool Factor (Line 9 / Original Pool Balance) (10) 57.6313% ==============

III. COLLECTION PERIOD NOTE BALANCE CALCULATION:

1 TRIAD AUTOMOBILE RECEIVABLES TRUST 2002-A Class A-1 1.72313% Asset Backed Notes Class A-2 1.99% Asset Backed Notes Class A-3 2.62% Asset Backed Notes Class A-4 3.24% Asset Backed Notes SCHEDULE B - SERVICER'S CERTIFICATE IV. CALCULATION OF PRINCIPAL DISTRIBUTABLE AMOUNT: (25) Total Monthly Principal Collection Amounts (25) 20,960,019.14 --------------- (26) Required Pro Forma Class A Note Balance (88% x Line 9) (26) 445,852,148.94 --------------- (27) Pro Forma Class A Note Balance (Line 21 - Line 8) (27) 443,336,946.64 --------------- (28) Step-Down Amount (Max of 0 or (Line 26 - Line 27)) (28) 2,515,202.30 2,515,202.30 --------------- --------------- (29) Principal Distribution Amount (Line 25 - Line 28) (29) 18,444,816.84 ===============

V. RECONCILIATION OF COLLECTION ACCOUNT: AVAILABLE FUNDS (30) Interest Collections (30) 8,327,017.62 --------------- (31) Repurchased Loan Proceeds Related to Interest (31) -- --------------- (32) Principal Collections (32) 8,610,364.80 --------------- (33) Prepayments in Full (33) 5,844,251.83 --------------- (34) Prepayments in Full Due to Administrative Repurchases (34) -- --------------- (35) Repurchased Loan Proceeds Related to Principal (35) -- --------------- (36) Collection of Supplemental Servicing - Extension and Late Fees (36) 239,303.14 --------------- (37) Collection of Supplemental Servicing - Repo and Recovery Fees Advanced (37) -- --------------- (38) Liquidation Proceeds (38) 1,837,275.00 --------------- (39) Recoveries from Prior Month Charge-Offs (39) 368,681.29 --------------- (40) Investment Earnings - Collection Account (40) 11,752.52 --------------- (41) Investment Earnings - Spread Account (41) 12,822.88 --------------- (42) Total Available Funds (42) 25,251,469.08 --------------- DISTRIBUTIONS: (43) Base Servicing Fee - to Servicer (43) 989,269.10 --------------- (44) Supplemental Servicing Fee - to Servicer (44) 418,289.42 --------------- (45) Indenture Trustee Fees (45) 250.00 --------------- (46) Owner Trustee Fees (46) -- --------------- (47) Backup Servicer Fees (47) -- ---------------

NOTEHOLDERS' INTEREST DISTRIBUTABLE AMOUNT

NOTEHOLDERS' PRINCIPAL DISTRIBUTION AMOUNT

(58) Insurer Premiums - to AMBAC (58) 85,455.00 --------------

(59) Total Distributions (59) 21,021,187.42 --------------- (60) Excess Available Funds (or Premium Claim Amount) (60) 4,230,281.66 --------------- (61) Deposit to Spread Account to Increase to Required Level (61) -- --------------- (62) Amount available for Noteholders' Accelerated Principle Amount (62) -- --------------- (63) Amount available for Deposit into the Note Distribution Account (63) 4,230,281.66 ---------------

VI. CALCULATION OF ACCELERATED PRINCIPAL AMOUNT: (64) Excess Available Funds After Amount to Increase Spread to Required Level (Line 60 - Line 61) (64) 4,230,281.66 -------------- (65) Spread Account Balance in Excess of Required Spread Balance (65) 628,800.57 -------------- (66) Total Excess Funds Available (66) 4,859,082.24 -------------- (67) Pro Forma Class A Note Balance (Line 21 - Line 8) (67)443,336,946.64 -------------- (68) Required Pro Forma Class A Note Balance (88% x Line 9) (68)445,852,148.94 -------------- (69) Excess of Pro Forma Balance over Required Balance (Line 67 - Line 68) (69) -- -------------- (70) Lesser of (Line 68) or (Line 69) (70) -- -------------- (71) Accelerated Principal Amount (Lesser of Line 66 or 70) (71) -- ---------------

2 TRIAD AUTOMOBILE RECEIVABLES TRUST 2002-A Class A-1 1.72313% Asset Backed Notes Class A-2 1.99% Asset Backed Notes Class A-3 2.62% Asset Backed Notes Class A-4 3.24% Asset Backed Notes SCHEDULE B - SERVICER'S CERTIFICATE VII. RECONCILIATION OF SPREAD ACCOUNT:

VIII. CALCULATION OF OC LEVEL AND OC PERCENTAGE (93) Aggregate Principal Balance (93) 506,650,169.25 ---------------- (94) End of Period Class A Note Balance (94) 445,852,148.94 ---------------- (95) Line 93 less Line 94 (95) 60,798,020.31 ---------------- (96) OC Level (Line 95 / Line 93) (96) 12.00% ---------------- (97) Ending Spread Balance as of a percentage of Aggregate Principal Balance (Line 92 / Line 93) (97) 3.00% ---------------- (98) OC Percentage (Line 96 + Line 97) (98) 15.00% --------------

IX. AMOUNTS DUE TO CERTIFICATEHOLDER (99) Beginning of Period Class B Noteholder Balance (99) 0.00 (100) Funds Available to the Class B Noteholder (100) 4,859,082.24 (101) Remaining Balance to the Certificateholder (101) 4,859,082.24

For additional information on Triad Financial Corporation and portfolio performance statistics, please review the investor relations information available on Triad's website at: www.triadfinancial.com By: (S)/Mike Wilhelms Name: Mike Wilhelms Title: Sr. VP & Chief Financial Officer Date: 5-Feb-2004 3 TRIAD AUTOMOBILE RECEIVABLES TRUST 2002-A Class A-1 1.72313% Asset Backed Notes Class A-2 1.99% Asset Backed Notes Class A-3 2.62% Asset Backed Notes Class A-4 3.24% Asset Backed Notes STATEMENT TO NOTEHOLDERS This Statement to Noteholders' has been prepared pursuant to Section 5.10 of the Sale and Servicing Agreement among Triad Automobile Receivables Trust 2002-A, as Issuer, Triad Financial Corporation, as Servicer and Custodian, Triad Financial Special Purpose LLC, as Seller, and JPMorgan Chase Bank, as the Backup Servicer and Indenture Trustee, dated as of August 1, 2002. Defined terms have the meaning assigned to them in the Sale and Servicing Agreement or in the other Transaction Documents. -------------------------------------------------- COLLECTION PERIOD BEGINNING: 01/01/2004 Original Pool Balance $ 879,123,207.32 COLLECTION PERIOD ENDING: 01/31/2004 PREV. DISTRIBUTION/CLOSE DATE: 01/12/2004 Beginning of Period Pool Balance 527,610,188.39 DISTRIBUTION DATE: 02/12/2004 Principal Reduction during preceding Collection Period 20,960,019.14 DAYS OF INTEREST FOR PERIOD: 31 End of Period Pool Balance $ 506,650,169.25 DAYS IN COLLECTION PERIOD: 31 MONTHS SEASONED: 18 --------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------ II. NOTE INTEREST DISTRIBUTION AND CARRYOVER AMOUNT CLASS A-1 CLASS A-2 CLASS A-3 CLASS A-4 CLASS B TOTAL ------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------ III. DISTRIBUTION PER $1,000 OF ORIGINAL BALANCE CLASS A-1 CLASS A-2 CLASS A-3 CLASS A-4 CLASS B TOTAL ------------------------------------------------------------------------------------------------------------------------------------

IV. SERVICING FEE PAID TO THE SERVICER (13) Base Servicing Fee Paid for the Prior Collection Period $ 989,269.10 (14) Supplemental Servicing Fee Paid for the Prior Collection Period 418,289.42 -------------- (15) Total Fees Paid to the Servicer $ 1,407,558.52

V. COLLECTION PERIOD AND CUMULATIVE NUMBER OF RECEIVABLES CALCULATION:

VI. STATISTICAL DATA: (CURRENT AND HISTORICAL)

4 TRIAD AUTOMOBILE RECEIVABLES TRUST 2002-A Class A-1 1.72313% Asset Backed Notes Class A-2 1.99% Asset Backed Notes Class A-3 2.62% Asset Backed Notes Class A-4 3.24% Asset Backed Notes STATEMENT TO NOTEHOLDERS VII. DELINQUENCY SUMMARY: (PRECEDING COLLECTION PERIOD)

VIII. NET LOSS RATE: (PRECEDING COLLECTION PERIOD) (32) Total Net Liquidation Losses for the preceding Collection Period (32) 4,299,446.22 (33) Beginning of Period Pool Balance (33) 527,610,188.39 (34) Net Loss Rate (34) 0.81%

IX. MONTHLY EXTENSION RATE (PRECEDING COLLECTION PERIOD) (35) Aggregate Principal Balance of Receivables extended during the preceding collection period (35) 9,908,450.33 (36) Beginning of Period Pool Balance (36) 527,610,188.39 (37) Monthly Extension Rate (37) 1.88%

X. PERFORMANCE TESTS: DELINQUENCY RATE (38) Receivables with Scheduled Payment delinquent > 60 days at end of preceding collection period ( 29 + 30 ) $ 20,563,830.02 --------------- (39) End of period Principal Balance (39) 506,650,169.25 --------------- (40) Delinquency Ratio (38) divided by (39) (40) 4.06% --------------- (41) Delinquency Rate Trigger Level for the Preceding Collection Period (41) 11.50% --------------- (42) Preceding Collection Period Delinquency Rate Compliance (42) PASS --------------- ROLLING AVERAGE NET LOSS RATE (43) Net Loss Rate in Preceding Collection Period (43) 0.81% --------------- (44) Net Loss Rate in Second Preceding Collection Period (44) 0.75% --------------- (45) Net Loss Rate in Third Preceding Collection Period (45) 0.79% --------------- (46) Rolling Average Net Loss Rate ((43) +(44) +(45)) / 3 (46) 0.78% --------------- (47) Rolling Average Net Loss Rate Trigger Level for the Preceding Collection Period (47) 16.00% --------------- (48) Preceding Collection Period Rolling Average Net Loss Rate Compliance (48) PASS --------------- AVERAGE MONTHLY EXTENSION RATE (49) Principal Balance of Receivables extended during preceding Collection Period (49) 1.88% --------------- (50) Principal Balance of Receivables extended during the Second Preceding Collection Period (50) 2.46% --------------- (51) Principal Balance of Receivables extended during the Third Preceding Collection Period (51) 2.27% --------------- (52) Average Monthly Extension Rate ((49) +(50) +(51)) / 3 (52) 2.20% --------------- (53) Average Monthly Extension Rate Compliance (Extension Rate Maximum = 4%) (53) PASS ---------------

TRIAD AUTOMOBILE RECEIVABLES TRUST 2002 A 8-K