Item 1. Business.
For a discussion of the business of Triad Automobile Receivables Trust 2005-A (the “Trust”), see the Prospectus and Prospectus Supplement, each dated May 18, 2005.
Item 1A.
Item 1A. Risk Factors
Omitted.
Item 1B.
Item 1B. Unresolved Staff Comments.
None.
Item 2.
Item 2. Properties.
The trust property includes, among other things: (i) non-prime motor vehicle installment sales contracts and installment loans secured by new and used automobiles and light-duty trucks; (ii) monies received from such automobile loans after April 30, 2005; (iii) amounts that may be held in the note distribution account, the collection account or the spread account; (iv) an assignment of the security interests in such financed vehicles; (v) an assignment of the Triad Financial Corporation’s rights against dealers under agreements between Triad Financial Corporation and dealers; (vi) an assignment of Triad Financial Corporation’s rights against third-party lenders under agreements between Triad Financial Corporation and third-party lenders; (vii) an assignment of the right to receive proceeds from claims on physical damage, credit life and disability insurance policies covering the financed vehicles or the obligors; (viii) such automobile loan files; (ix) other rights under certain transaction documents, and (x) proceeds of the above items.
Item 3.
Item 3. Legal Proceedings.
There are no material legal proceedings involving the Trust, Triad Financial Special Purpose LLC or Triad Financial Corporation (“Triad” or the “Servicer”) which relate to the Trust or its property pending as of the date of this report.
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders.
No votes or consents of the holders of the securities were solicited for any purpose during the year covered by this report.
PART II
Item 5.
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
As of March 30, 2006, there was one holder of record of the common equity of the Trust. See also Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. There was no principal market in which the securities traded.
Item 6.
Item 6. Selected Financial Data.
Omitted.
Item 7.
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Omitted.
Item 7A.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk.
Omitted.
Item 8.
Item 8. Financial Statements and Supplementary Data.
Omitted.
Item 9.
Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.
None.
Item 9A.
Item 9A. Controls and Procedures.
Omitted.
Item 9B.
Item 9B. Other Information.
None.
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant.
Omitted.
Item 11.
Item 11. Executive Compensation.
Omitted.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.
Triad Financial Residual Special Purpose LLC was the only holder of record which beneficially owns more than 5% of the trust certificates. The dollar and percentage amounts reflected in the table below are based upon the face amount of the certificates as of the closing date, and do not reflect amortization, if any, since that date.
Item 13.
Item 13. Certain Relationships and Related Transactions.
None.
Item 14.
Item 14. Principal Accounting Fees and Services.
Omitted.
PART IV
Item 15.
Item 15. Exhibits, Financial Statement Schedules and Reports on Form 8-K.
(a) Exhibits.
(b) Reports on Form 8-K.
The current reports on Form 8-K attaching the related Monthly Servicer’s Report were filed by the trust on June 13, 2005, for the month ending May 31, 2005, July 12, 2005 for the month ending June 30, 2005, August 12, 2005 for the month ending July 31, 2005, September 12, 2005 for the month ending August 31, 2005, October 12, 2005 for the month ending September 30, 2005, November 14, 2005 for the month ending October 31, 2005, and December 12, 2005 for the month ending November 30, 2005.
(c) Exhibits to this report are listed in Item 15(a) above.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
EXHIBIT INDEX