8-K 1 w54813e8-k.txt FORM 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: November 9, 2001 ---------------- CAPITAL ONE AUTO FINANCE TRUST CAPITAL ONE BANK (Exact name of registrant as specified in its charter) Virginia 0-25762 54-1719855 ---------------------------------- -------------- -------------------- (State or other jurisdiction of (Commission (IRS Employer incorporation) File Number) Identification No.) 11013 West Broad Street Road, Glen Allen, Virginia 23060 -------------------------------------------------- ------------- (Address of principal executive offices) (Zip Code) (Registrant's telephone number, including area code): (804) 967-1000 (Former name or former address, if changed since last report): Not Applicable CAPITAL ONE AUTO FINANCE TRUST Automobile Receivable-Backed Notes, Series 2001-A Class A-1 3.75 % Asset Backed Notes Class A-2 4.14 % Asset Backed Notes Class A-3 4.83 % Asset Backed Notes Class A-4 5.40 % Asset Backed Notes Class B 7.92 % Asset Backed Notes Preliminary Servicer's Certificate

------------------------------------------- ---------------------------------------------------------------------------------~~------~~ ~~IV.~~MONTHLY ~~RECONCILIATION~~PERIOD OFBEGINNING: ~~COLLECTION~~10/1/01 ~~ACCOUNT:~~ORIGINAL ~~----------------------------------------------------------------------------------------------------------------------------------~~MONTHLY ~~AVAILABLE~~PERIOD ~~FUNDS~~ENDING: ~~{24}~~10/31/01 ~~Scheduled~~PURCHASES ~~and~~UNITS ~~Prepayment Principal Cash Received {24} 15,949,292.49~~ CUT-~~-------------------~~OFF ~~{25}~~DATE ~~Liquidation~~CLOSING ~~Proceeds~~DATE ~~Collected~~POOL ~~during~~BALANCE ~~period {25} 12,439~~PREV.60 ~~--------------------~~DISTRIBUTION/CLOSE ~~{26}~~DATE: ~~Receivables Repurchase Amounts {26} 981,508.74 -------------------- {27} Interest and Fees Collected on Receivables {27}~~ 10/15~~,611,308.30~~/01 -------------------- ~~{28} Recoveries on Previously Defaulted Receivables {28} 0.00~~ -------------------- ~~{29} Advances from the Reserve Fund {29} 0.00~~ -------------------- ~~Investment Earnings on Trust Accounts {30} Collection Account {30} 43,133.84~~ -------------------- ~~{31} Transfer from Reserve Fund {31} 18,292.75~~ -~~-------------------~~ ~~{32}~~DISTRIBUTION Transfer from Pre-Funding Account {32} 134,710.02 -------------------- {33} Optional Note Redemption Prepayment Amount {33} 0.00 -------------------- {34} Total Available Funds {34} 32,750,685.74 ------------- DISTRIBUTIONSDATE: {35} Trustees' Fees {35} 0.00 -------------------- {36} Servicing Fees {36} 2,255,900.23 -------------------- Class A Noteholders' Note Interest ------------------------------------------------------------------------------- BEGINNING INTEREST CALCULATED CLASS NOTE BALANCE RATE DAYS DAYS BASIS INTEREST ------------------------------------------------------------------------------- {37} A-1 $126,500,000 3.75000% 53 Actual days11/~~360 $698,385 {37} 698,385.42 ------------------- {38} A-2 $234,500,000 4.14000% 51 30~~15/~~360~~01 ~~1,375,343~~INITIAL ~~{38}~~PURCHASE 152,~~375,342.50~~772 ~~------------------- {39} A-3 $241,500,000 4.83000% 51 30~~7/~~360~~26/01 ~~1,652,464 {39} 1,652,463.75 ------------------- {40} A-4~~ $~~247~~815,~~500~~094,~~000~~313 5.40000% 51 30/360 1,893,375 {40} 1,893,375.00 ------------------- ------------------------------------------------------------------------------- {41} Note Insurer Premiums {41} 0.00 ------------------- {42} Reimbursement Obligations due Note Insurer {42} 0.00 ------------------- Class B Noteholders' Primary Note Interest ------------------------------------------------------------------------------- BEGINNING INTEREST CALCULATED CLASS NOTE BALANCE RATE DAYS ~~DAYS~~OF ~~BASIS~~ INTEREST ~~-------------------------------------------------------------------------------~~FOR ~~{43}~~PERIOD: ~~Class~~31 ~~B $60,382,514 7~~SUB.~~92000%~~ 51PURCHASE ~~30/360~~#1 ~~677~~6,~~492~~974 ~~{43}~~8/24/01 ~~677~~113,~~491.80 ------------------------------------------------------------------------------- ------------------- {44} Class A Noteholders' Principal Payment Amount {44} 15~~867,~~509,659.03~~436 ~~-------------------~~DAYS ~~{45}~~IN ~~Accrued~~COLLECTION ~~and~~PERIOD: ~~Unpaid~~31 ~~Premium and Reimbursement Obligations, due Note Insurer {45} 0~~SUB.00 ~~-------------------~~PURCHASE ~~{46}~~#2 ~~Deposit to Reserve Account, to Required Level {46}~~ 0~~.00~~ ~~-------------------~~MONTHS ~~{47}~~SEASONED: ~~Class~~3 ~~A Noteholder's Accelerated Principal Amount (if in an event of default under the indenture or, under certain circumstances, an insurance agreement event of default) {47} 0.00~~ ------------------- ~~{48} Class B Noteholders' Principal Payment Amount {48} 1,101,779.06~~ ------------------- ~~{49} Class B Noteholder's Accelerated Principal Amount {49} 7,586,288.95~~ ------------------- ~~{50} Optional Note Redemption Amount {50} 0.00~~ ------~~-------------~~ ~~{51}~~TOTAL Other Amounts Due to the Trustees {51} 0.00 ------------------- {52} Servicer Transition Expenses {52} 0.00 ------------------- {53} Indenture Trustee Title Expenses {53} 0.00 ------------------- {54} Class B Excess Interest {54} 0.00 ------------------- {55} Distribution to the equity certificate holder {55} 0.00 ------------------- {56} Total Distributions {56} 32,750,685.74 ============= ---------------------------------------------------------------------------------------------------------------------------------- V. RECONCILIATION OF RESERVE ACCOUNT: ---------------------------------------------------------------------------------------------------------------------------------- {57} BEGINNING OF PERIOD RESERVE ACCOUNT BALANCE {57} $8,771,845.88 ------------- DEPOSITS TO RESERVE ACCOUNT {58} Investment Earnings {58} 18,292.75 ------------------- {59~~} Deposits Related to Subsequent Receivables Purchases {59} 1~~,~~115,900.87~~746 ~~------------------- {60} Total Additions {60}~~ $1928,~~134~~961,~~193.62~~749 ------------- ~~PRIORITY WITHDRAWALS FROM RESERVE ACCOUNT {61} Transfer of Investment Earnings to Collection Account {61} (18,292.75)~~ ------------------- ~~{62} Advances to Collection Account~~ - ~~Priority (1) through (7) {62}~~ - ---------~~----------~~ ~~{63} Total Priority Withdrawals {63} ($18,292.75)~~ ------------------- ~~{64} RESERVE ACCOUNT SUBTOTAL {64} $9,887,746.75~~ ------------------- ~~{65} Reserve Account Requirement {65} 9,103,825.14~~ ------------------- ~~{66} Reserve Account Shortfall / Excess {66} 783,921.62~~ ------------------- ~~{67} DEPOSIT TO RESERVE FUND, TO REQUIRED LEVEL {67} $0.00~~ ------------------- {68} RESERVE ACCOUNT PRIMARY BALANCE {68} $9,887,746.75 ------------------- SUBORDINATE WITHDRAWALS FROM RESERVE ACCOUNT {69} Advances to Collection Account - Priority (10), (16) and (17) (limited to excess amounts on deposit) {69} - ------------------- {70} Advances to Collection Account - Priority (12) through (15) {70} - ------------------- {71} Return of Excess to Equity Certificate Holder {71} - ------------------- {72} Total Subordinate Withdrawals {72} - ------------------- {73} END OF PERIOD RESERVE ACCOUNT BALANCE {73} 9,887,746.75 ===================

------------------------------------------------------------------------------------------------------------------------------------ VII. ~~CALCULATION~~MONTHLY OFPERIOD ~~RESERVE~~RECEIVABLES ~~ACCOUNT~~PRINCIPAL ~~REQUIREMENT~~BALANCE CALCULATION: ------------------------------------------------------------------------------------------------------------------------------------ ~~IF PRIOR TO ACCELERATED RESERVE FUND EVENT: Lesser of:~~ {~~74} (~~1~~)Ending Aggregate Note Balance {74~~} ~~886,184,786.62~~Beginning ~~-or-- {75} (2)1.0%~~ of ~~98%~~period ofAggregate ~~Original~~Principal ~~Receivable~~ Balance {751} 9$889,~~103~~734,~~825~~322.1468 -------------------- ~~{76} REQUIREMENT {76} 9,103,825.14~~ -------~~-------------~~ ~~IF ACCELERATED RESERVE FUND EVENT: Lesser of:~~ {~~77} (1)Ending Aggregate Note Balance {77} 886,184,786.62 -or-- (~~2~~)Greater of: {78~~} ~~(a)~~Purchase ~~3.0%~~ of ~~98%~~Subsequent ofReceivables ~~Original Receivable Balance~~ {782} ~~27,311,475~~0.4100 ----------------- ~~{79}~~ -or-- ~~{79} 53,626,264.53~~ -------~~-------------~~ ~~{80}~~Monthly ~~(b)~~Principal ~~6.0%~~Amounts ~~of 98% of Current Receivable Balance~~ {803} ~~53,626,264.53~~Regular ~~-----------------~~Principal ~~--------------------~~Received {813} ~~REQUIREMENT {81} 53~~10,~~626~~474,~~264~~531.5361 -----------------~~---~~ ------------------------------------------------------------------------------------------------------------------------------------ VII. CALCULATION OF PRINCIPAL PAYMENT AMOUNTS ------------------------------------------------------------------------------------------------------------------------------------ {824} Prepaid Principal ~~Collections~~Received {824} 164,~~950~~771,~~447~~478.0367 -----------------~~---~~ {835} ~~End~~Defaulted ~~of Period Aggregate~~ Receivables ~~Balance~~Deposit Amount {835} ~~912~~1,~~011~~895,~~301~~778.6054 -----------------~~---~~ {846} ~~Required~~Principal ~~O/C~~Portion ~~Margin~~of ~~(as~~Repurchased ~~Specified~~Receivables ~~in Trust Indenture)~~ {846} 18157,~~240,226~~028.0368 -----------------~~---~~ {857} ~~Required~~Cram ~~Maximum~~Down ~~Ending~~Losses ~~Aggregate~~and ~~Class~~Other ~~A Principal Balance (line {83}~~ Non-Cash ~~{84})~~Adjustments {857} ~~893~~11,~~771,075~~581.5711 -----------------~~---~~ {868} ~~Class~~Total AMonthly ~~Aggregate Oustanding~~ Principal ~~Balance~~Amounts ~~(Start of Period)~~ {868} ~~850~~17,~~000~~310,~~000~~398.0061 -------------------- ~~Less: {87} Allocable to Class A Notes (line {82} X 91.5%) {87} 15,509,659.03~~ -------~~-------------~~ {889} ~~Preliminary~~End ~~Class~~of Aperiod ~~Ending~~Aggregate Receivable Balance {889} ~~834~~$872,~~490~~423,~~340~~924.9707 ~~--------------------~~=========================== {8910} ~~Payment~~Pool ~~Amount~~Factor ~~Necessary to Reduce Class A Balance to Required Level~~ (~~line~~ {889} -/ ~~{85})~~Original ~~{89}~~Pool ~~0.00 -------------------- -------------------- {90} Class A Principal Payment Amount (line {87} + {89}~~Balance) {9010} ~~15,509,659~~0.03 -------------------- -------------------- {91} Class B Principal Payment Amount (line {82} X 6.5%) {91} 1,101,779.06 -------------------- ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------9391

-------------------------------------------------------------------------------- -------------------------------------------------------------------------------- IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Monthly Servicer's Report as dated above. OFFICERS' CERTIFICATE The undersigned hereby certifies that ( i ) he or she is an Authorized Officer of Captial One Auto Finance ( the "Servicer" ), and ( ii ) Exhibit A hereto complies with the requirements of, and is being delivered pursuant to, Section 2.02 ( c ) of the Servicing Agreement ( the "Servicing Agreement" ) dated as of July 26, 2001 by and among Captial One Auto Finance Trust 2001-A, as the Issuer, Wells Fargo Bank Minnesota, National Association, Trustee, and the Servicer. CAPITAL ONE AUTO FINANCE Capital One Auto Finance, as Servicer By: /s/Stuart Levy ---------------------- Name: Stuart Levy Title: Manager of Global Trust Reporting Date: 11/15/01 3 CAPITAL ONE AUTO FINANCE TRUST Automobile Receivable-Backed Notes, Series 2001-A Class A-1 3.75 % Asset Backed Notes Class A-2 4.14 % Asset Backed Notes Class A-3 4.83 % Asset Backed Notes Class A-4 5.40 % Asset Backed Notes Class B 7.92 % Asset Backed Notes Servicer's Certificate

----------------------------------------------------------------------------------------------------------------------------- Compliance with Accelerated Reserve Fund Trigger? Cumulative Net Loss Rate is less than or equal to: N/A Yes Complaince with Insurance Agreement Event of Default? Cumulative Net Loss Rate is less than or equal to: N/A Yes -----------------------------------------------------------------------------------------------------------------------------

EXTENSION RATE {33} Number of Receivables extended during current period {33} 604 ------------------------- {34} Beginning of Period Loans Outstanding {34} 58,372 ------------------------- {35} Extension Rate {33} divided by {34} {35} 1.03% ----------------------- {36} Previous Monthly Extension Rate {36} 0.69% ----------------------- {37} Second previous Monthly Extension Rate {37} 0.54% ----------------------- {38} Average Extension Rate ({35} +{36} +{37}) / 3 {38} 0.76% -----------------------

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