Exhibit 20.1
CNH Equipment Trust 2003-A
$228,000,000 Class A-1 1.26250% Asset Backed Notes due June 11, 2004
$251,000,000 Class A-2 1.460% Asset Backed Notes due February 15, 2006
$150,000,000 Class A-3a Floating-Rate Asset Backed Notes due July 16, 2007
$108,000,000 Class A-3b 1.890% Asset Backed Notes due July 16, 2007
$107,000,000 Class A-4a Floating-Rate Asset Backed Notes due September 15, 2009
$96,000,000 Class A-4b 2.570% Asset Backed Notes due September 15, 2009
$32,500,000 Class B 3.130% Asset Backed Notes due November 15, 2010
$27,500,000 3.130% Asset Backed Certificates
Please contact Kim Zier at 262-636-6644 with any questions regarding this report or email abs@cnh.com
For additional information consult http://investors.cnh.com
|
| 1 |
| 2 |
| 3 |
| 4 |
|
|
| 0 |
| 0 |
| 0 |
| 0 |
|
Cutoff Date |
| 3/31/2004 |
| ||||||
Date Added |
| 4/30/2003 |
| 5/31/2003 |
| 6/30/2003 |
| 7/31/2003 |
|
Pool |
| Pool 1 |
| Pool 2 |
| Pool 3 |
| Pool 4 |
|
Scheduled Cashflows |
| 6,820,301.10 |
| 612,582.44 |
| 743,200.38 |
| 131,327.89 |
|
|
| 16,746,565.42 |
| 6,738,112.60 |
| 2,557,382.25 |
| 462,297.05 |
|
|
| 9,068,711.66 |
| 8,578,053.11 |
| 8,843,048.80 |
| 583,493.19 |
|
|
| 9,231,090.16 |
| 1,942,441.61 |
| 11,276,428.50 |
| 2,188,307.24 |
|
|
| 8,540,099.32 |
| 1,978,003.28 |
| 2,874,727.40 |
| 2,183,225.89 |
|
|
| 8,087,157.16 |
| 1,985,922.12 |
| 2,953,212.02 |
| 548,807.43 |
|
|
| 8,581,572.01 |
| 1,977,985.98 |
| 2,966,957.53 |
| 701,441.88 |
|
|
| 7,657,310.80 |
| 2,291,283.50 |
| 2,939,756.62 |
| 550,116.37 |
|
|
| 7,763,586.19 |
| 2,342,318.57 |
| 3,395,266.39 |
| 500,016.05 |
|
|
| 13,218,148.25 |
| 2,372,882.62 |
| 4,095,153.00 |
| 717,074.62 |
|
|
| 14,008,781.88 |
| 2,199,774.97 |
| 2,984,259.11 |
| 653,846.71 |
|
|
| 13,974,149.68 |
| 2,000,913.66 |
| 2,742,551.35 |
| 496,121.71 |
|
|
| 18,954,405.03 |
| 1,954,411.02 |
| 2,918,900.34 |
| 511,107.23 |
|
|
| 14,921,852.32 |
| 7,046,602.09 |
| 2,967,734.22 |
| 535,546.10 |
|
|
| 5,738,935.07 |
| 8,609,808.95 |
| 8,832,192.99 |
| 567,556.73 |
|
|
| 6,022,377.68 |
| 1,794,488.19 |
| 11,117,572.71 |
| 2,191,188.82 |
|
|
| 5,900,082.13 |
| 1,794,728.62 |
| 2,610,890.83 |
| 2,153,808.61 |
|
|
| 5,798,709.55 |
| 1,803,237.77 |
| 2,658,067.82 |
| 504,679.21 |
|
|
| 6,227,002.18 |
| 1,786,545.71 |
| 2,667,500.87 |
| 626,038.20 |
|
|
| 6,043,793.36 |
| 2,089,197.36 |
| 2,632,256.82 |
| 500,609.26 |
|
|
| 5,982,024.59 |
| 2,138,511.15 |
| 3,118,517.29 |
| 453,726.11 |
|
|
| 11,171,896.13 |
| 2,163,365.09 |
| 3,765,000.02 |
| 659,088.38 |
|
|
| 12,002,893.64 |
| 1,981,310.97 |
| 2,684,996.79 |
| 600,090.59 |
|
|
| 12,508,872.82 |
| 1,820,488.65 |
| 2,484,433.54 |
| 445,269.06 |
|
|
| 16,970,789.22 |
| 1,750,164.36 |
| 2,618,765.37 |
| 462,181.96 |
|
|
| 12,815,092.89 |
| 6,733,256.29 |
| 2,670,326.68 |
| 478,355.81 |
|
|
| 3,910,364.68 |
| 8,060,913.55 |
| 8,385,371.10 |
| 510,680.25 |
|
|
| 4,176,383.19 |
| 1,118,503.39 |
| 10,236,614.92 |
| 2,209,117.95 |
|
|
| 3,985,095.31 |
| 1,107,891.06 |
| 1,558,156.32 |
| 1,997,165.68 |
|
|
| 4,020,442.09 |
| 1,100,184.40 |
| 1,631,103.48 |
| 332,343.30 |
|
|
| 4,218,493.51 |
| 1,116,247.75 |
| 1,582,695.28 |
| 439,020.11 |
|
|
| 4,112,181.35 |
| 1,364,157.39 |
| 1,621,199.96 |
| 323,787.62 |
|
|
| 4,133,070.14 |
| 1,369,321.70 |
| 1,955,183.27 |
| 296,415.92 |
|
|
| 8,215,296.76 |
| 1,447,582.08 |
| 2,511,962.18 |
| 472,160.65 |
|
|
| 8,877,177.64 |
| 1,293,386.63 |
| 1,692,562.29 |
| 433,788.80 |
|
|
| 9,745,691.86 |
| 1,145,678.76 |
| 1,522,535.75 |
| 293,756.04 |
|
|
| 13,048,905.84 |
| 1,123,815.34 |
| 1,616,905.92 |
| 302,785.96 |
|
|
| 9,654,194.58 |
| 4,842,883.06 |
| 1,668,696.86 |
| 322,367.97 |
|
|
| 2,681,836.67 |
| 5,655,136.46 |
| 5,621,248.40 |
| 330,034.33 |
|
|
| 2,828,907.16 |
| 828,654.72 |
| 6,953,967.78 |
| 1,481,731.17 |
|
|
| 2,723,562.32 |
| 809,009.93 |
| 1,107,377.91 |
| 1,341,016.74 |
|
|
| 2,701,789.43 |
| 807,534.94 |
| 1,167,964.90 |
| 249,762.20 |
|
|
| 2,978,961.16 |
| 841,760.44 |
| 1,140,976.44 |
| 276,414.22 |
|
|
| 3,019,743.85 |
| 1,042,585.54 |
| 1,249,242.14 |
| 423,906.91 |
|
|
| 3,256,110.35 |
| 1,173,006.16 |
| 1,481,014.59 |
| 210,030.86 |
|
|
| 7,267,640.69 |
| 1,162,716.52 |
| 2,096,493.55 |
| 424,549.36 |
|
|
| 6,870,590.74 |
| 1,000,477.80 |
| 1,228,804.53 |
| 333,575.85 |
|
|
| 7,547,533.80 |
| 890,036.77 |
| 1,117,050.38 |
| 194,647.89 |
|
|
| 10,149,251.80 |
| 856,406.57 |
| 1,118,245.19 |
| 223,722.91 |
|
|
| 6,602,260.51 |
| 4,199,106.99 |
| 1,225,907.76 |
| 272,303.26 |
|
|
| 707,916.93 |
| 4,744,356.60 |
| 4,931,275.97 |
| 265,850.39 |
|
|
| 203,341.14 |
| 109,185.03 |
| 5,755,416.47 |
| 1,325,599.92 |
|
|
| 267,337.33 |
| 105,900.48 |
| 167,833.99 |
| 1,220,104.37 |
|
|
| 227,934.07 |
| 63,181.26 |
| 115,005.14 |
| 9,073.47 |
|
|
| 378,823.21 |
| 66,425.38 |
| 99,197.13 |
| 67,651.39 |
|
|
| 317,440.10 |
| 109,244.00 |
| 105,390.08 |
| 16,971.38 |
|
|
| 345,539.69 |
| 140,067.53 |
| 138,007.68 |
| 6,899.79 |
|
|
| 562,244.34 |
| 86,281.58 |
| 208,595.39 |
| 19,269.96 |
|
|
| 674,472.58 |
| 159,420.32 |
| 112,165.81 |
| 24,469.11 |
|
|
| 709,774.94 |
| 85,746.62 |
| 127,367.45 |
| 6,899.79 |
|
|
| 1,094,503.72 |
| 71,278.56 |
| 98,733.81 |
| 6,899.79 |
|
|
| 727,629.25 |
| 631,254.96 |
| 88,298.53 |
| 24,263.52 |
|
|
| 597.56 |
| 312,283.96 |
| 603,974.11 |
| 6,899.79 |
|
|
| 597.56 |
| 0.00 |
| 208,619.86 |
| 199,071.25 |
|
|
| 1,023.81 |
| 0.00 |
| 0.00 |
| 107,279.75 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
|
|
|
|
|
|
|
|
|
Total Amount of Scheduled Cashflow |
| 407,700,861.90 |
| 129,528,014.91 |
| 176,370,261.96 |
| 37,407,611.72 |
|
Discount Rate |
| 5.400 | % | 5.400 | % | 5.400 | % | 5.400 | % |
Beginning Contract Value |
| 401,432,807.76 |
| 120,437,913.69 |
| 164,544,021.35 |
| 34,335,552.09 |
|
Scheduled Contract Value Decline |
| 27,724,883.65 |
| 1,959,459.87 |
| 2,810,395.98 |
| 490,353.61 |
|
Unscheduled Contract Value Decline |
| 3,370,376.27 |
| 1,034,894.75 |
| 1,915,215.42 |
| 135,032.35 |
|
Additional Contract Value Added |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
Ending Contract Value |
| 370,337,547.84 |
| 117,443,559.07 |
| 159,818,409.94 |
| 33,710,166.13 |
|
1
Dated Date (30/360) |
| 3/15/2004 |
|
|
| |
Dated Date (act/360) |
| 3/15/2004 |
|
|
| |
Scheduled Payment Date |
| 4/15/2004 |
|
|
| |
Actual Payment Date |
| 4/15/2004 |
|
|
| |
Days in accrual period (30/360) |
| 30 |
|
|
| |
Days in accrual period (act/360) |
| 31 |
|
|
| |
1 month LIBOR Rate |
| 1.09000 | % |
|
| |
|
|
|
|
|
| |
Collateral Summary |
|
|
|
|
| |
Wtd. Average Discount Rate |
| 5.400 | % |
|
| |
Beginning Contract Value |
| 720,750,294.89 |
|
|
| |
Scheduled Contract Value Decline |
| 32,985,093.11 |
|
|
| |
Unscheduled Contract Value Decline |
| 6,455,518.79 |
|
|
| |
Additional Contract Value Purchased |
| 0.00 |
|
|
| |
Ending Contract Value |
| 681,309,682.98 |
|
|
| |
|
|
|
|
|
| |
Beginning Pre-funding Account Balance |
| 0.00 |
|
|
| |
Ending Pre-funding Account Balance |
| 0.00 |
|
|
| |
|
|
|
|
|
| |
Total Beginning Balance (Pool Balance + Pre-funding Account Balance) |
| 720,750,294.89 |
|
|
| |
Total Ending Balance (Pool Balance + Pre-funding Account Balance) |
| 681,309,682.98 |
|
|
| |
|
|
|
|
|
| |
Collateral Performance |
|
|
|
|
| |
Scheduled Amounts 30 - 59 days past due |
| $ | 731,971.21 |
| 0.11 | % |
Scheduled Amounts 60 days or more past due |
| $ | 788,741.33 |
| 0.12 | % |
Net Losses on Liquidated Receivables |
| $ | 178,568.10 |
| 0.03 | % |
Cumulative Net Losses |
| $ | 1,481,887.21 |
|
|
|
Number of Loans at Beginning of Period |
| 41,047 |
|
|
| |
Number of Loans at End of Period |
| 39,646 |
|
|
| |
Repossessed Equipment not Sold or Reassigned (Beginning) |
| $ | 597,747.42 |
|
|
|
Repossessed Equipment not Sold or Reassigned (End) |
| $ | 681,009.90 |
|
|
|
|
|
|
|
|
| |
Collections and Reinvestment Income |
|
|
|
|
| |
Receipts During the period |
| $ | 42,490,159.97 |
|
|
|
|
|
|
|
|
| |
Warranty Repurchases |
|
|
|
|
| |
Contracts deferred beyond Final Scheduled Maturity Date |
| $ | 0.00 |
|
|
|
Government obligors |
| $ | 0.00 |
|
|
|
Total Warranty Repurchases |
| $ | 0.00 |
|
|
|
|
|
|
|
|
| |
Total Collections For The Period |
| $ | 42,490,159.97 |
|
|
|
|
|
|
|
|
| |
Reinvestment Income (excluding Pre-funding Account) |
| $ | 38,584.14 |
|
|
|
Reinvestment Income on Pre-funding Account) |
| $ | 0.00 |
|
|
|
|
|
|
|
|
| |
Net Swap Receipts |
| 0.00 |
|
|
| |
Net Swap Termination Payments due Trust from the Swap CounterParty |
| $ | 0.00 |
|
|
|
|
|
|
|
|
| |
Total Collections + Reinvestment Income For The Period + Swap Receipt |
| $ | 42,528,744.11 |
|
|
|
|
|
|
|
|
| |
Swap Termination Payments due to Swap CounterParty |
| $ | 0.00 |
|
|
|
Prior Swap Termination Payment Shortfall |
| $ | 0.00 |
|
|
|
Total Swap Termination Payment due to Swap CounterParty |
| $ | 0.00 |
|
|
|
2
Actual Payment Date |
|
|
|
|
|
|
| 4/15/2004 |
| ||
|
|
|
|
|
|
|
|
|
| ||
Caclulation of Distributable Amounts |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| ||
Current Servicing Fee Due |
|
|
|
|
| 1.000 | % | $ | 600,625.25 |
| |
Past Due Servicing Fee |
|
|
|
|
|
|
| $ | 0.00 |
| |
Total Servicing Fee Due |
|
|
|
|
|
|
| $ | 600,625.25 |
| |
|
|
|
|
|
|
|
|
|
| ||
Current Administration Fee Due |
|
|
|
|
| $ | 500.00 |
| $ | 166.67 |
|
Past Due Administration Fee |
|
|
|
|
|
|
| $ | 0.00 |
| |
Total Administration Fee Due |
|
|
|
|
|
|
| $ | 166.67 |
| |
|
|
|
|
|
|
|
|
|
| ||
Total Principal Balance of Notes and Certificates (Beginning of Period) |
|
|
|
|
|
|
| $ | 1,361,601,064.36 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 174,725,612.27 |
| |
A-3a notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 150,000,000.00 |
| |
A-3b notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 108,000,000.00 |
| |
A-4a notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 107,000,000.00 |
| |
A-4b notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 96,000,000.00 |
| |
B notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 698,375,452.09 |
| |
Certificate Beginning Principal balance |
|
|
|
|
|
|
| $ | 27,500,000.00 |
| |
|
| Type |
| Coupon/ |
| Swap Adj. |
|
|
| ||
A-1 notes Current Interest Due |
| Fix |
| 1.26250 | % | 1.26250 | % | $ | 0.00 |
| |
A-2 notes Current Interest Due |
| Fix |
| 1.46000 | % | 1.46000 | % | $ | 219,668.92 |
| |
A-3a notes Current Interest Due |
| Flt |
| 0.18000 | % | 1.86300 | % | $ | 164,041.67 |
| |
A-3b notes Current Interest Due |
| Fix |
| 1.89000 | % | 1.89000 | % | $ | 175,770.00 |
| |
A-4a notes Current Interest Due |
| Flt |
| 0.28000 | % | 2.55700 | % | $ | 126,230.28 |
| |
A-4b notes Current Interest Due |
| Fix |
| 2.57000 | % | 2.57000 | % | $ | 212,453.33 |
| |
B notes Current Interest Due |
| Fix |
| 3.13000 | % | 3.13000 | % | $ | 1,882,315.84 |
| |
Certificate Current Interest Due |
| Fix |
| 3.13000 | % | 3.13000 | % | $ | 74,120.14 |
| |
|
|
|
|
|
|
|
|
|
| ||
A-1 notes Past Due Interest |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 notes Past Due Interest |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-3a notes Past Due Interest |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-3b notes Past Due Interest |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4a notes Past Due Interest |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4b notes Past Due Interest |
|
|
|
|
|
|
| $ | 0.00 |
| |
B notes Past Due Interest |
|
|
|
|
|
|
| $ | 0.00 |
| |
Certificate Past Due Interest |
|
|
|
|
|
|
| $ | 659,660.23 |
| |
|
|
|
|
|
|
|
|
|
| ||
A-1 notes Interest Due on Past Due Interest |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 notes Interest Due on Past Due Interest |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-3a notes Interest Due on Past Due Interest |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-3b notes Interest Due on Past Due Interest |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4a notes Interest Due on Past Due Interest |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4b notes Interest Due on Past Due Interest |
|
|
|
|
|
|
| $ | 0.00 |
| |
B notes Interest Due on Past Due Interest |
|
|
|
|
|
|
| $ | 0.00 |
| |
Certificate Interest Due on Past Due Interest |
|
|
|
|
|
|
| $ | 1,777.97 |
| |
|
|
|
|
|
|
|
|
|
| ||
A-1 notes Total Interest Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 notes Total Interest Due |
|
|
|
|
|
|
| $ | 219,668.92 |
| |
A-3a notes Total Interest Due |
|
|
|
|
|
|
| $ | 164,041.67 |
| |
A-3b notes Total Interest Due |
|
|
|
|
|
|
| $ | 175,770.00 |
| |
A-4a notes Total Interest Due |
|
|
|
|
|
|
| $ | 126,230.28 |
| |
A-4b notes Total Interest Due |
|
|
|
|
|
|
| $ | 212,453.33 |
| |
B notes Total Interest Due |
|
|
|
|
|
|
| $ | 1,882,315.84 |
| |
Certificate Total Interest Due |
|
|
|
|
|
|
| $ | 735,558.34 |
| |
|
|
|
|
|
| 1 Month LIBOR |
|
|
| ||
A-1 Net Swap Payment Due |
|
|
|
|
| 0.00000 | % | $ | 0.00 |
| |
A-2 Net Swap Payment Due |
|
|
|
|
| 0.00000 | % | $ | 0.00 |
| |
A-3a Net Swap Payment Due |
|
|
|
|
| 1.68300 | % | $ | 69,583.33 |
| |
A-3b Net Swap Payment Due |
|
|
|
|
| 0.00000 | % | $ | 0.00 |
| |
A-4a Net Swap Payment Due |
|
|
|
|
| 2.27700 | % | $ | 102,601.11 |
| |
A-4b Net Swap Payment Due |
|
|
|
|
| 0.00000 | % | $ | 0.00 |
| |
B Net Swap Payment Due |
|
|
|
|
| 0.00000 | % | $ | 0.00 |
| |
Certificate Net Swap Payment Due |
|
|
|
|
| 0.00000 | % | $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
| ||
A-1 Net Swap Payment Past Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 Net Swap Payment Past Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-3a Net Swap Payment Past Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-3b Net Swap Payment Past Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4a Net Swap Payment Past Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4b Net Swap Payment Past Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
B Net Swap Payment Past Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
Certificate Net Swap Payment Past Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
| ||
A-1 Interest on Swap Payment Past Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 Interest on Swap Payment Past Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-3a Interest on Swap Payment Past Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-3b Interest on Swap Payment Past Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4z Interest on Swap Payment Past Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4b Interest on Swap Payment Past Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
B Interest on Swap Payment Past Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
Cert Interest on Swap Payment Past Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
| ||
A-1 Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-3a Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 69,583.33 |
| |
A-3b Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4a Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 102,601.11 |
| |
A-4b Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
B Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
Certificate Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
| ||
A-1 Net Swap Receipt |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 Net Swap Receipt |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-3a Net Swap Receipt |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-3b Net Swap Receipt |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4a Net Swap Receipt |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4b Net Swap Receipt |
|
|
|
|
|
|
| $ | 0.00 |
| |
B Net Swap Receipt |
|
|
|
|
|
|
| $ | 0.00 |
| |
Certificate Net Swap Receipt |
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
| ||
A-1 notes Principal Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 notes Principal Due |
|
|
|
|
|
|
| $ | 174,725,612.27 |
| |
A-3a notes Principal Due |
|
|
|
|
|
|
| $ | 62,790,697.67 |
| |
A-3b notes Principal Due |
|
|
|
|
|
|
| $ | 45,209,302.33 |
| |
A-4a notes Principal Due |
|
|
|
|
|
|
| $ | 50,600,985.22 |
| |
A-4b notes Principal Due |
|
|
|
|
|
|
| $ | 45,399,014.78 |
| |
Class B notes Principal Due |
|
|
|
|
|
|
| $ | 301,565,769.11 |
| |
Certificate Principal Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
| ||
Total notes Interest Due |
|
|
|
|
|
|
| $ | 2,780,480.04 |
| |
Total notes Principal Due |
|
|
|
|
|
|
| $ | 680,291,381.38 |
| |
Net Swap/Termination Payment Due |
|
|
|
|
|
|
| $ | 172,184.44 |
| |
Total notes Distributable Amount |
|
|
|
|
|
|
| $ | 683,244,045.86 |
| |
3
Actual Payment Date |
| 4/15/2004 |
|
|
| ||
|
|
|
|
|
| ||
Cash Available for Distribution |
|
|
|
|
| ||
Total Collections + Reinvestment Income For The Period |
| $ | 42,528,744.11 |
|
|
| |
|
|
|
|
|
| ||
Beginning Negitive Carry Account |
| $ | 0.00 |
|
|
| |
Deposits from Negitive Carry Account to Distribution Account |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Beginning Spread Account Balance |
| $ | 0.00 |
|
|
| |
Additional Deposit to Spread Account from Pre-funding |
| $ | 0.00 |
|
|
| |
Deposits from Spread Account to Distribution Account |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Beginning Principal Supplement Account |
| $ | 0.00 |
|
|
| |
Deposits from Principal Supplement Account to Distribution Account |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Total Cash Available |
| $ | 42,528,744.11 |
|
|
| |
|
|
|
|
|
| ||
|
|
|
| Available |
| ||
Cash Allocation (Cashflow Waterfall) |
|
|
|
|
| ||
Servicing Fee Paid |
| $ | 600,625.25 |
|
|
| |
Servicing Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 41,928,118.86 |
| |
Administration Fee Paid |
| $ | 166.67 |
|
|
| |
Administration Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 41,927,952.19 |
| |
Net Swap Payment Paid |
| $ | 172,184.44 |
|
|
| |
Net Swap Payment Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Remaining Cash Available to Pay Note Interest & Swap Termination Payment |
|
|
| $ | 41,755,767.75 |
| |
|
|
|
|
|
| ||
Cash Available to Pay Note Interest |
| $ | 41,755,767.75 |
|
|
| |
Cash Available to Pay Termination Payment |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Class A-1 notes Interest Paid |
| $ | 0.00 |
|
|
| |
Class A-2 notes Interest Paid |
| $ | 219,668.92 |
|
|
| |
Class A-3a notes Interest Paid |
| $ | 164,041.67 |
|
|
| |
Class A-3b notes Interest Paid |
| $ | 175,770.00 |
|
|
| |
Class A-4a notes Interest Paid |
| $ | 126,230.28 |
|
|
| |
Class A-4b notes Interest Paid |
| $ | 212,453.33 |
|
|
| |
|
|
|
| $ | 40,857,603.55 |
| |
Class A-1 notes Interest Shortfall |
| $ | 0.00 |
|
|
| |
Class A-2 notes Interest Shortfall |
| $ | 0.00 |
|
|
| |
Class A-3a notes Interest Shortfall |
|
|
|
|
| ||
Class A-3b notes Interest Shortfall |
| $ | 0.00 |
|
|
| |
Class A-4a notes Interest Shortfall |
|
|
|
|
| ||
Class A-4b notes Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Swap Termination Payment Paid |
| $ | 0.00 |
|
|
| |
Swap Termination Payment Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 40,857,603.55 |
| |
Class B notes Interest Paid |
| $ | 1,882,315.84 |
|
|
| |
Class B notes Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 38,975,287.71 |
| |
Class A-1 notes Principal Paid |
| $ | 0.00 |
|
|
| |
Class A-2 notes Principal Paid |
| $ | 38,975,287.71 |
|
|
| |
Class A-3a notes Principal Paid |
| $ | 0.00 |
|
|
| |
Class A-3b notes Principal Paid |
| $ | 0.00 |
|
|
| |
Class A-4a notes Principal Paid |
| $ | 0.00 |
|
|
| |
Class A-4b notes Principal Paid |
| $ | 0.00 |
|
|
| |
Class B notes Principal Paid |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 0.00 |
| |
Deposits to Spread Account |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 0.00 |
| |
Certificate Interest Paid |
| $ | 0.00 |
|
|
| |
Certificate Interest Shortfall |
| $ | 735,558.34 |
|
|
| |
|
|
|
| $ | 0.00 |
| |
Certificate Principal Paid |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 0.00 |
| |
Total Principal Balance of Notes and Certificates (End of Period) |
| $ | 1,322,625,776.65 |
|
|
| |
A-1 notes Ending Principal balance |
| $ | 0.00 |
|
|
| |
A-2 notes Ending Principal balance |
| $ | 135,750,324.56 |
|
|
| |
A-3a notes Ending Principal balance |
| $ | 150,000,000.00 |
|
|
| |
A-3b notes Ending Principal balance |
| $ | 108,000,000.00 |
|
|
| |
A-4a notes Ending Principal balance |
| $ | 107,000,000.00 |
|
|
| |
A-4b notes Ending Principal balance |
| $ | 96,000,000.00 |
|
|
| |
B notes Ending Principal balance |
| $ | 698,375,452.09 |
|
|
| |
Certificate Ending Principal balance |
| $ | 27,500,000.00 |
|
|
| |
|
|
|
|
|
| ||
Release to Seller as Excess |
| $ | 0.00 |
| $ | 0.00 |
|
4
Actual Payment Date |
|
|
|
|
| 4/15/2004 |
|
|
|
|
| |||
|
|
|
|
|
|
|
|
|
|
|
| |||
|
|
|
|
|
| Amount |
| Factor |
| Per/$1000 |
| |||
Summary and Factors |
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (Beginning of Period) |
|
|
|
|
| $ | 1,361,601,064.36 |
| 1.3616011 |
| $ | 1,361.60 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
A-2 notes Beginning Principal balance |
|
|
|
|
| $ | 174,725,612.27 |
| 0.6961180 |
| $ | 696.12 |
| |
A-3a notes Beginning Principal balance |
|
|
|
|
| $ | 150,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
A-3b notes Beginning Principal balance |
|
|
|
|
| $ | 108,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
A-4a notes Beginning Principal balance |
|
|
|
|
| $ | 107,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
A-4b notes Beginning Principal balance |
|
|
|
|
| $ | 96,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
B notes Beginning Principal balance |
|
|
|
|
| $ | 698,375,452.09 |
| 21.4884754 |
| $ | 21,488.48 |
| |
Certificate Beginning Principal balance |
|
|
|
|
| $ | 27,500,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (End of Period) |
|
|
|
|
| $ | 1,322,625,776.65 |
| 1.3226258 |
| $ | 1,322.63 |
| |
A-1 notes Ending Principal balance |
|
|
| $ | 228,000,000.00 |
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
|
A-2 notes Ending Principal balance |
| Pro rata % |
| $ | 251,000,000.00 |
| $ | 135,750,324.56 |
| 0.5408379 |
| $ | 540.84 |
|
A-3a notes Ending Principal balance |
| 58.14 | % | $ | 150,000,000.00 |
| $ | 150,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
A-3b notes Ending Principal balance |
| 41.86 | % | $ | 108,000,000.00 |
| $ | 108,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
A-4a notes Ending Principal balance |
| 52.71 | % | $ | 107,000,000.00 |
| $ | 107,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
A-4b notes Ending Principal balance |
| 47.29 | % | $ | 96,000,000.00 |
| $ | 96,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
B notes Ending Principal balance |
|
|
| $ | 32,500,000.00 |
| $ | 698,375,452.09 |
| 21.4884754 |
| $ | 21,488.48 |
|
Certificate Ending Principal balance |
|
|
| $ | 27,500,000.00 |
| $ | 27,500,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A-1 notes Interest Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A-2 notes Interest Paid |
|
|
|
|
| $ | 219,668.92 |
| 0.0008752 |
| $ | 0.88 |
| |
Class A-3a notes Interest Paid |
|
|
|
|
| $ | 164,041.67 |
| 0.0010936 |
| $ | 1.09 |
| |
Class A-3b notes Interest Paid |
|
|
|
|
| $ | 175,770.00 |
| 0.0016275 |
| $ | 1.63 |
| |
Class A-4a notes Interest Paid |
|
|
|
|
| $ | 126,230.28 |
| 0.0011797 |
| $ | 1.18 |
| |
Class A-4b notes Interest Paid |
|
|
|
|
| $ | 212,453.33 |
| 0.0022131 |
| $ | 2.21 |
| |
Class B notes Interest Paid |
|
|
|
|
| $ | 1,882,315.84 |
| 0.0579174 |
| $ | 57.92 |
| |
Certificate Interest Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A-1 notes Interest Shortfall |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A-2 notes Interest Shortfall |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A-3a notes Interest Shortfall |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A-3b notes Interest Shortfall |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A-4a notes Interest Shortfall |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A-4b notes Interest Shortfall |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class B notes Interest Shortfall |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Certificate Interest Shortfall |
|
|
|
|
| $ | 735,558.34 |
| 0.0267476 |
| $ | 26.75 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A-1 notes Principal Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A-2 notes Principal Paid |
|
|
|
|
| $ | 38,975,287.71 |
| 0.1552800 |
| $ | 155.28 |
| |
Class A-3a notes Principal Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A-3b notes Principal Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A-4a notes Principal Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A-4b notes Principal Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class B notes Principal Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Certificate Principal Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry Account |
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry |
| 0.75000 | % | 5/22/2003 |
| 1.8272 | % |
|
|
|
| |||
Negitive Carry Days Remaining |
|
|
| 11/15/2003 |
| 0 |
|
|
|
|
| |||
Required Negitive Carry Account |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Beginning Negitive Carry Account |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Negitive Carry Account Withdrawls to Distribution Account |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Negitive Carry Released to Seller |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Ending Negitive Carry Account Balance |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
Spread Account |
|
|
|
|
|
|
|
|
|
|
| |||
Required Spread Account Deposit (Add Loans) |
|
|
| 2.00 | % | $ | 0.00 |
|
|
|
|
| ||
Required Spread Account Target |
|
|
| 2.50 | % | $ | 17,032,742.07 |
|
|
|
|
| ||
Required Spread Account Floor |
|
|
| 2.00 | % | $ | 20,000,000.01 |
|
|
|
|
| ||
Required Spread Account |
|
|
|
|
| $ | 20,000,000.01 |
|
|
|
|
| ||
Beginning Spread Account Balance |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Additional Deposit to Spread Account from Pre-funding |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Spread Account Withdrawls to Distribution Account |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Spread Account Deposits from Excess Cash |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Spread Account Released to Seller |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Ending Spread Account Balance |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
Principal Supplement Account |
|
|
|
|
|
|
|
|
|
|
| |||
Required Principal Supplement Account Balance |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Beginning Principal Supplement Account Balance |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Additional Deposit to Principal Supplement Account from Pre-funding |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Principal Supplement Account Withdrawls to Distribution Account |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Principal Supplement Account Released to Seller |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Ending Principal Supplement Account |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
Pre-funding Account |
|
|
|
|
|
|
|
|
|
|
| |||
Beginning Pre-funding Account Balance |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
New Contract Value Purchased |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Deposits to Spread Account |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Deposits to Principal Supplement Account |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Ending Pre-funding Account Balance |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Release to seller |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
Backup Servicer Account |
|
|
|
|
|
|
|
|
|
|
| |||
Backup Servicer Account Initial Deposit |
|
|
|
|
| $ | 500,000.00 |
|
|
|
|
| ||
Backup Servicer Account Beginning Balance |
|
|
|
|
| $ | 500,000.00 |
|
|
|
|
| ||
Monthly Backup Servicing Fee (2bps/12*beginning balance or $4000 floor) |
|
|
|
|
| $ | 12,012.50 |
|
|
|
|
| ||
Accrued Backup Servicing Fee |
|
|
|
|
| $ | 12,467.93 |
|
|
|
|
| ||
Total Backup Servicing Fee Due |
|
|
|
|
| $ | 24,480.44 |
|
|
|
|
| ||
Backup Servicing Fee Paid |
|
|
|
|
| $ | 24,480.44 |
|
|
|
|
| ||
Ending Backup Servicing Account Balance |
|
|
|
|
| $ | 475,519.56 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Release to Seller |
|
|
|
|
| $ | 600,791.92 |
|
|
|
|
| ||
5
