Exhibit 20.1
CNH Equipment Trust 2003-B
$234,000,000 Class A-1 1.23% Asset Backed Notes due December 13, 2004
$260,000,000 Class A-2 1.71% Asset Backed Notes due May 15, 2006
$205,500,000 Class A-3a Floating-Rate Asset Backed Notes due January 15, 2008
$139,500,000 Class A-3b 2.47% Asset Backed Notes due January 15, 2008
$133,200,000 Class A-4a Floating-Rate Asset Backed Notes due February 15, 2011
$114,500,000 Class A-4b 3.38% Asset Backed Notes due February 15, 2011
$40,300,000 Class B 3.35% Asset Backed Notes due February 15, 2011
$23,000,000 3.35% 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 |
|
|
| 5 |
| 5 |
| 5 |
| 5 |
|
Cutoff Date |
| 3/31/2004 |
| ||||||
Date Added |
| 10/31/2003 |
| 11/30/2003 |
| 12/31/2003 |
| 1/31/2004 |
|
Pool |
| Pool 1 |
| Pool 2 |
| Pool 3 |
| Pool 4 |
|
Scheduled Cashflows |
| 2,362,348.21 |
| 271,087.05 |
| 264,569.61 |
| 540,128.30 |
|
|
| 9,013,579.26 |
| 1,519,877.73 |
| 1,879,119.51 |
| 2,190,921.85 |
|
|
| 9,739,759.95 |
| 1,568,011.01 |
| 2,590,436.05 |
| 2,216,602.43 |
|
|
| 15,595,677.52 |
| 1,361,349.63 |
| 2,603,352.45 |
| 2,716,025.14 |
|
|
| 19,519,859.60 |
| 1,402,263.83 |
| 2,172,972.41 |
| 2,572,006.59 |
|
|
| 23,961,337.87 |
| 1,452,011.53 |
| 2,258,359.70 |
| 2,514,439.86 |
|
|
| 34,257,243.25 |
| 2,335,332.63 |
| 2,956,013.52 |
| 3,003,535.18 |
|
|
| 22,435,025.96 |
| 7,986,445.81 |
| 2,933,003.62 |
| 2,331,174.15 |
|
|
| 12,165,444.81 |
| 7,888,709.30 |
| 10,409,785.63 |
| 3,134,657.67 |
|
|
| 12,258,080.15 |
| 1,915,448.88 |
| 14,157,175.31 |
| 16,750,347.94 |
|
|
| 10,443,505.21 |
| 1,686,684.15 |
| 2,585,465.11 |
| 10,678,579.28 |
|
|
| 8,931,019.54 |
| 1,351,176.11 |
| 2,041,870.11 |
| 2,056,528.44 |
|
|
| 9,195,566.96 |
| 1,412,790.84 |
| 2,262,941.56 |
| 2,394,320.68 |
|
|
| 9,322,919.27 |
| 1,749,928.01 |
| 2,110,541.05 |
| 2,325,889.91 |
|
|
| 8,446,587.46 |
| 1,494,337.17 |
| 2,436,515.67 |
| 2,062,466.62 |
|
|
| 13,462,077.79 |
| 1,280,988.86 |
| 2,361,466.54 |
| 2,497,732.47 |
|
|
| 17,735,221.71 |
| 1,306,681.90 |
| 2,033,780.61 |
| 2,370,416.40 |
|
|
| 21,542,440.43 |
| 1,318,877.84 |
| 2,039,766.84 |
| 2,294,201.25 |
|
|
| 29,965,530.78 |
| 2,181,861.19 |
| 2,817,151.71 |
| 2,669,973.77 |
|
|
| 19,695,266.59 |
| 7,624,464.23 |
| 2,794,950.33 |
| 2,167,094.44 |
|
|
| 10,025,411.65 |
| 7,623,731.83 |
| 9,954,303.89 |
| 2,939,254.60 |
|
|
| 10,547,227.29 |
| 1,762,407.47 |
| 13,528,099.38 |
| 15,920,710.57 |
|
|
| 9,107,395.31 |
| 1,512,343.16 |
| 2,289,863.77 |
| 10,203,749.93 |
|
|
| 7,703,445.29 |
| 1,184,430.41 |
| 1,740,392.84 |
| 1,732,699.03 |
|
|
| 8,033,167.79 |
| 1,243,023.09 |
| 1,947,927.03 |
| 2,058,416.93 |
|
|
| 8,061,296.83 |
| 1,552,237.90 |
| 1,773,000.92 |
| 1,931,238.21 |
|
|
| 7,223,319.07 |
| 1,274,549.34 |
| 2,040,866.06 |
| 1,641,206.04 |
|
|
| 11,913,140.93 |
| 1,069,096.58 |
| 1,968,849.33 |
| 1,944,261.73 |
|
|
| 15,783,730.91 |
| 1,076,606.12 |
| 1,641,189.46 |
| 1,874,130.17 |
|
|
| 18,962,407.47 |
| 1,092,029.73 |
| 1,613,768.28 |
| 1,817,192.17 |
|
|
| 26,795,516.86 |
| 1,928,088.86 |
| 2,352,687.93 |
| 2,109,553.75 |
|
|
| 16,946,114.60 |
| 7,307,930.28 |
| 2,392,510.97 |
| 1,706,339.16 |
|
|
| 7,244,487.78 |
| 7,127,292.00 |
| 9,309,212.34 |
| 2,417,738.85 |
|
|
| 7,619,600.58 |
| 1,415,373.13 |
| 12,719,550.18 |
| 14,966,155.25 |
|
|
| 6,351,009.37 |
| 1,136,575.58 |
| 1,763,850.70 |
| 9,703,971.06 |
|
|
| 5,082,024.11 |
| 864,335.12 |
| 1,236,224.14 |
| 1,288,562.54 |
|
|
| 5,336,401.94 |
| 918,806.26 |
| 1,411,675.56 |
| 1,529,031.83 |
|
|
| 5,524,900.84 |
| 1,210,334.13 |
| 1,254,592.70 |
| 1,431,150.31 |
|
|
| 4,702,492.74 |
| 956,214.03 |
| 1,426,997.30 |
| 1,163,027.65 |
|
|
| 7,840,256.74 |
| 766,813.21 |
| 1,352,948.53 |
| 1,409,334.86 |
|
|
| 11,052,465.60 |
| 756,427.20 |
| 1,147,160.60 |
| 1,345,634.87 |
|
|
| 14,221,740.99 |
| 784,213.43 |
| 1,093,824.67 |
| 1,305,285.75 |
|
|
| 20,462,931.17 |
| 1,531,782.76 |
| 1,711,916.98 |
| 1,520,864.57 |
|
|
| 12,775,638.83 |
| 5,913,097.84 |
| 1,798,044.59 |
| 1,310,808.98 |
|
|
| 5,389,524.94 |
| 5,928,686.10 |
| 7,270,200.79 |
| 1,834,821.80 |
|
|
| 5,769,422.76 |
| 1,122,542.90 |
| 10,163,758.39 |
| 11,648,899.52 |
|
|
| 4,804,616.94 |
| 863,288.74 |
| 1,341,917.37 |
| 7,854,395.61 |
|
|
| 3,537,673.14 |
| 584,492.36 |
| 847,100.08 |
| 883,115.73 |
|
|
| 3,612,263.20 |
| 703,071.36 |
| 1,029,466.26 |
| 1,128,371.01 |
|
|
| 3,813,507.73 |
| 919,120.14 |
| 850,617.29 |
| 989,243.07 |
|
|
| 3,214,665.44 |
| 680,922.13 |
| 998,957.88 |
| 752,364.46 |
|
|
| 6,243,667.10 |
| 504,032.26 |
| 897,571.73 |
| 917,806.62 |
|
|
| 10,020,069.50 |
| 536,300.80 |
| 743,817.47 |
| 916,223.85 |
|
�� |
| 12,172,181.69 |
| 534,117.89 |
| 806,482.40 |
| 871,266.90 |
|
|
| 17,582,355.70 |
| 1,260,921.33 |
| 1,184,711.62 |
| 1,077,945.28 |
|
|
| 8,821,005.26 |
| 5,437,351.68 |
| 1,506,327.02 |
| 891,374.79 |
|
|
| 1,285,854.52 |
| 5,741,449.22 |
| 6,347,212.41 |
| 1,688,377.05 |
|
|
| 1,148,663.60 |
| 141,787.46 |
| 9,785,767.62 |
| 13,282,392.89 |
|
|
| 616,434.14 |
| 163,579.63 |
| 401,714.89 |
| 6,700,436.93 |
|
|
| 491,165.86 |
| 49,217.00 |
| 138,374.97 |
| 154,585.65 |
|
|
| 386,644.37 |
| 76,080.90 |
| 125,292.13 |
| 119,968.87 |
|
|
| 593,011.29 |
| 109,118.63 |
| 51,869.43 |
| 58,552.92 |
|
|
| 323,989.64 |
| 75,865.36 |
| 86,404.20 |
| 54,918.99 |
|
|
| 643,370.82 |
| 77,673.24 |
| 83,921.04 |
| 130,661.50 |
|
|
| 957,892.34 |
| 55,752.33 |
| 68,558.30 |
| 127,839.80 |
|
|
| 1,248,293.31 |
| 68,071.13 |
| 142,326.80 |
| 129,717.82 |
|
|
| 2,049,831.18 |
| 174,365.46 |
| 53,164.36 |
| 91,831.91 |
|
|
| 1,127,049.24 |
| 781,187.13 |
| 183,533.83 |
| 98,443.61 |
|
|
| 0.00 |
| 764,144.16 |
| 760,560.55 |
| 122,861.38 |
|
|
| 0.00 |
| 0.00 |
| 1,161,042.45 |
| 1,539,983.06 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 961,576.04 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 830.18 |
|
|
| 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 |
| 665,217,770.72 |
| 128,469,206.50 |
| 192,209,366.77 |
| 209,786,168.42 |
|
Discount Rate |
| 5.750 | % | 5.750 | % | 5.750 | % | 5.750 | % |
Beginning Contract Value |
| 609,098,393.11 |
| 114,905,550.61 |
| 171,806,226.16 |
| 186,639,774.83 |
|
Scheduled Contract Value Decline |
| 9,659,202.55 |
| 1,226,026.27 |
| 1,687,034.83 |
| 2,134,492.64 |
|
Unscheduled Contract Value Decline |
| 6,314,545.26 |
| 670,768.98 |
| 1,187,265.38 |
| 897,914.04 |
|
Additional Contract Value Added |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
Ending Contract Value |
| 593,124,645.30 |
| 113,008,755.35 |
| 168,931,925.95 |
| 183,607,368.15 |
|
1
CNH Equipment Trust 2003-B
$234,000,000 Class A-1 1.23% Asset Backed Notes due December 13, 2004
$260,000,000 Class A-2 1.71% Asset Backed Notes due May 15, 2006
$205,500,000 Class A-3a Floating-Rate Asset Backed Notes due January 15, 2008
$139,500,000 Class A-3b 2.47% Asset Backed Notes due January 15, 2008
$133,200,000 Class A-4a Floating-Rate Asset Backed Notes due February 15, 2011
$114,500,000 Class A-4b 3.38% Asset Backed Notes due February 15, 2011
$40,300,000 Class B 3.35% Asset Backed Notes due February 15, 2011
$23,000,000 3.35% Asset Backed Certificates
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 |
| 5.750 | % |
|
| |
Beginning Contract Value |
| 1,082,449,944.71 |
|
|
| |
Scheduled Contract Value Decline |
| 14,706,756.29 |
|
|
| |
Unscheduled Contract Value Decline |
| 9,070,493.66 |
|
|
| |
Additional Contract Value Purchased |
| 0.00 |
|
|
| |
Ending Contract Value |
| 1,058,672,694.76 |
|
|
| |
|
|
|
|
|
| |
Beginning Pre-funding Account Balance |
| 0.25 |
|
|
| |
Ending Pre-funding Account Balance |
| 0.25 |
|
|
| |
|
|
|
|
|
| |
Total Beginning Balance (Pool Balance + Pre-funding Account Balance) |
| 1,082,449,944.95 |
|
|
| |
Total Ending Balance (Pool Balance + Pre-funding Account Balance) |
| 1,058,672,695.00 |
|
|
| |
|
|
|
|
|
| |
Collateral Performance |
|
|
|
|
| |
Scheduled Amounts 30 - 59 days past due |
| $ | 360,585.67 |
| 0.03 | % |
Scheduled Amounts 60 days or more past due |
| $ | 246,671.80 |
| 0.02 | % |
Net Losses on Liquidated Receivables |
| $ | 70,788.57 |
| 0.01 | % |
Cumulative Net Losses |
| $ | 233,249.54 |
|
|
|
Number of Loans at Beginning of Period |
| 42,753 |
|
|
| |
Number of Loans at End of Period |
| 42,291 |
|
|
| |
Repossessed Equipment not Sold or Reassigned (Beginning) |
| $ | 208,325.15 |
|
|
|
Repossessed Equipment not Sold or Reassigned (End) |
| $ | 254,675.01 |
|
|
|
|
|
|
|
|
| |
Collections and Reinvestment Income |
|
|
|
|
| |
Receipts During the period |
| $ | 28,952,356.80 |
|
|
|
|
|
|
|
|
| |
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 |
| $ | 28,952,356.80 |
|
|
|
|
|
|
|
|
| |
Reinvestment Income (excluding Pre-funding Account) |
| $ | 37,129.73 |
|
|
|
Reinvestment Income on Pre-funding Account) |
| $ | 1.35 |
|
|
|
|
|
|
|
|
| |
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 |
| $ | 28,989,487.88 |
|
|
|
|
|
|
|
|
| |
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
CNH Equipment Trust 2003-B
$234,000,000 Class A-1 1.23% Asset Backed Notes due December 13, 2004
$260,000,000 Class A-2 1.71% Asset Backed Notes due May 15, 2006
$205,500,000 Class A-3a Floating-Rate Asset Backed Notes due January 15, 2008
$139,500,000 Class A-3b 2.47% Asset Backed Notes due January 15, 2008
$133,200,000 Class A-4a Floating-Rate Asset Backed Notes due February 15, 2011
$114,500,000 Class A-4b 3.38% Asset Backed Notes due February 15, 2011
$40,300,000 Class B 3.35% Asset Backed Notes due February 15, 2011
$23,000,000 3.35% Asset Backed Certificates
Actual Payment Date |
|
|
|
|
|
|
| 4/15/2004 |
| ||
|
|
|
|
|
|
|
|
|
| ||
Caclulation of Distributable Amounts |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| ||
Backup Servicer Engaged? |
|
|
|
|
|
|
| YES |
| ||
Current Backup Servicing Fee Due |
|
|
|
|
|
|
| $ | 18,040.83 |
| |
Past Due Backup Servicing Fee |
|
|
|
|
|
|
| $ | 0.00 |
| |
Total Backup Servicing Fee Due |
|
|
|
|
|
|
| $ | 18,040.83 |
| |
|
|
|
|
|
|
|
|
|
| ||
CNH or SST? |
|
|
|
|
|
|
| CNH |
| ||
Current Servicing Fee Due |
|
|
|
|
|
|
| $ | 902,041.62 |
| |
Past Due Servicing Fee |
|
|
|
|
|
|
| $ | 0.00 |
| |
Total Servicing Fee Due |
|
|
|
|
|
|
| $ | 902,041.62 |
| |
|
|
|
|
|
|
|
|
|
| ||
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) |
|
|
|
|
|
|
| $ | 1,082,449,944.95 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 168,864,196.88 |
| |
A-2 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 260,000,000.00 |
| |
A-3a notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 205,500,000.00 |
| |
A-3b notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 139,500,000.00 |
| |
A-4a notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 133,200,000.00 |
| |
A-4b notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 114,500,000.00 |
| |
B notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 37,885,748.07 |
| |
Certificate Beginning Principal balance |
|
|
|
|
|
|
| $ | 23,000,000.00 |
| |
|
|
|
|
|
|
|
|
|
|
| |
|
| Type |
| Coupon/ |
| Swap Adj. |
|
|
| ||
A-1 notes Current Interest Due |
| Fix |
| 1.23000 | % | 1.23000 | % | $ | 178,855.33 |
| |
A-2 notes Current Interest Due |
| Fix |
| 1.71000 | % | 1.71000 | % | $ | 382,850.00 |
| |
A-3a notes Current Interest Due |
| Flt |
| 0.14000 | % | 2.49500 | % | $ | 217,658.75 |
| |
A-3b notes Current Interest Due |
| Fix |
| 2.47000 | % | 2.47000 | % | $ | 296,708.75 |
| |
A-4a notes Current Interest Due |
| Flt |
| 0.23000 | % | 3.37500 | % | $ | 151,404.00 |
| |
A-4b notes Current Interest Due |
| Fix |
| 3.38000 | % | 3.38000 | % | $ | 333,258.61 |
| |
B notes Current Interest Due |
| Fix |
| 3.35000 | % | 3.35000 | % | $ | 109,289.86 |
| |
Certificate Current Interest Due |
| Fix |
| 3.35000 | % | 3.35000 | % | $ | 66,348.61 |
| |
|
|
|
|
|
|
|
|
|
| ||
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 |
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
| ||
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 |
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
| ||
A-1 notes Total Interest Due |
|
|
|
|
|
|
| $ | 178,855.33 |
| |
A-2 notes Total Interest Due |
|
|
|
|
|
|
| $ | 382,850.00 |
| |
A-3a notes Total Interest Due |
|
|
|
|
|
|
| $ | 217,658.75 |
| |
A-3b notes Total Interest Due |
|
|
|
|
|
|
| $ | 296,708.75 |
| |
A-4a notes Total Interest Due |
|
|
|
|
|
|
| $ | 151,404.00 |
| |
A-4b notes Total Interest Due |
|
|
|
|
|
|
| $ | 333,258.61 |
| |
B notes Total Interest Due |
|
|
|
|
|
|
| $ | 109,289.86 |
| |
Certificate Total Interest Due |
|
|
|
|
|
|
| $ | 66,348.61 |
| |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
| 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 |
|
|
|
|
| 2.35500 | % | $ | 210,409.17 |
| |
A-3b Net Swap Payment Due |
|
|
|
|
| 0.00000 | % | $ | 0.00 |
| |
A-4a Net Swap Payment Due |
|
|
|
|
| 3.14500 | % | $ | 224,072.00 |
| |
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 |
|
|
|
|
|
|
| $ | 210,409.17 |
| |
A-3b Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4a Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 224,072.00 |
| |
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 |
|
|
|
|
|
|
| $ | 22,945,046.20 |
| |
A-2 notes Principal Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-3a notes Principal Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-3b notes Principal Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4a notes Principal Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4b notes Principal Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
| ||
Class B Floor |
|
|
|
|
|
|
| $ | 9,359,251.38 |
| |
Class B notes Principal Due |
|
|
|
|
|
|
| $ | 832,203.75 |
| |
Reallocated Class B Principal |
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
| ||
Certificate Principal Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
| ||
Total notes Interest Due |
|
|
|
|
|
|
| $ | 1,670,025.30 |
| |
Total notes Principal Due |
|
|
|
|
|
|
| $ | 23,777,249.95 |
| |
Net Swap/Termination Payment Due |
|
|
|
|
|
|
| $ | 434,481.17 |
| |
Total notes Distributable Amount |
|
|
|
|
|
|
| $ | 25,881,756.42 |
| |
3
CNH Equipment Trust 2003-B
$234,000,000 Class A-1 1.23% Asset Backed Notes due December 13, 2004
$260,000,000 Class A-2 1.71% Asset Backed Notes due May 15, 2006
$205,500,000 Class A-3a Floating-Rate Asset Backed Notes due January 15, 2008
$139,500,000 Class A-3b 2.47% Asset Backed Notes due January 15, 2008
$133,200,000 Class A-4a Floating-Rate Asset Backed Notes due February 15, 2011
$114,500,000 Class A-4b 3.38% Asset Backed Notes due February 15, 2011
$40,300,000 Class B 3.35% Asset Backed Notes due February 15, 2011
$23,000,000 3.35% Asset Backed Certificates
Actual Payment Date |
| 4/15/2004 |
|
|
| ||
|
|
|
|
|
| ||
Cash Available for Distribution |
|
|
|
|
| ||
Total Collections + Reinvestment Income For The Period |
| $ | 28,989,487.88 |
|
|
| |
|
|
|
|
|
| ||
Beginning Negitive Carry Account |
| $ | 0.00 |
|
|
| |
Deposits from Negitive Carry Account to Distribution Account |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Beginning Spread Account Balance |
| $ | 27,061,248.62 |
|
|
| |
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 |
| $ | 28,989,487.88 |
|
|
| |
|
|
|
|
|
| ||
|
|
|
| Available |
| ||
Cash Allocation (Cashflow Waterfall) |
|
|
|
|
| ||
Backup Servicing Fee Paid |
| $ | 18,040.83 |
|
|
| |
Backup Servicing Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| 28,971,447.05 |
| ||
Servicing Fee Paid |
| $ | 902,041.62 |
|
|
| |
Servicing Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 28,069,405.43 |
| |
Administration Fee Paid |
| $ | 166.67 |
|
|
| |
Administration Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 28,069,238.76 |
| |
Net Swap Payment Paid |
| $ | 434,481.17 |
|
|
| |
Net Swap Payment Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Remaining Cash Available to Pay Note Interest & Swap Termination Payment |
|
|
| $ | 27,634,757.59 |
| |
|
|
|
|
|
| ||
Cash Available to Pay Note Interest |
| $ | 27,634,757.59 |
|
|
| |
Cash Available to Pay Termination Payment |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Class A-1 notes Interest Paid |
| $ | 178,855.33 |
|
|
| |
Class A-2 notes Interest Paid |
| $ | 382,850.00 |
|
|
| |
Class A-3a notes Interest Paid |
| $ | 217,658.75 |
|
|
| |
Class A-3b notes Interest Paid |
| $ | 296,708.75 |
|
|
| |
Class A-4a notes Interest Paid |
| $ | 151,404.00 |
|
|
| |
Class A-4b notes Interest Paid |
| $ | 333,258.61 |
|
|
| |
|
|
|
| $ | 26,074,022.15 |
| |
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 |
|
|
| |
|
|
|
| $ | 26,074,022.15 |
| |
Class B notes Interest Paid |
| $ | 109,289.86 |
|
|
| |
Class B notes Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 25,964,732.29 |
| |
Class A-1 notes Principal Paid |
| $ | 22,945,046.20 |
|
|
| |
Class A-2 notes Principal Paid |
| $ | 0.00 |
|
|
| |
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 |
| $ | 832,203.75 |
|
|
| |
|
|
|
| $ | 2,187,482.34 |
| |
Remaining Class B Principal Reallocation Amount |
| $ | 0.00 |
|
|
| |
Reallocated Class A-1 notes Principal Paid |
| $ | 0.00 |
|
|
| |
Remaining Class B Principal Reallocation Amount |
| $ | 0.00 |
| $ | 2,187,482.34 |
|
Reallocated Class A-2 notes Principal Paid |
| $ | 0.00 |
|
|
| |
Remaining Class B Principal Reallocation Amount |
| $ | 0.00 |
| $ | 2,187,482.34 |
|
Reallocated Class A-3a notes Principal Paid |
| $ | 0.00 |
|
|
| |
Reallocated Class A-3b notes Principal Paid |
| $ | 0.00 |
|
|
| |
Remaining Class B Principal Reallocation Amount |
| $ | 0.00 |
| $ | 2,187,482.34 |
|
Reallocated Class A-4a notes Principal Paid |
| $ | 0.00 |
|
|
| |
Reallocated Class A-4b notes Principal Paid |
| $ | 0.00 |
|
|
| |
Remaining Class B Principal Reallocation Amount |
| $ | 0.00 |
| $ | 2,187,482.34 |
|
|
|
|
|
|
| ||
Deposits to Spread Account |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 2,187,482.34 |
| |
Certificate Interest Paid |
| $ | 66,348.61 |
|
|
| |
Certificate Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 2,121,133.73 |
| |
Certificate Principal Paid |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 2,121,133.73 |
| |
Total Principal Balance of Notes and Certificates (End of Period) |
| $ | 1,058,672,695.00 |
|
|
| |
A-1 notes Ending Principal balance |
| $ | 145,919,150.68 |
|
|
| |
A-2 notes Ending Principal balance |
| $ | 260,000,000.00 |
|
|
| |
A-3a notes Ending Principal balance |
| $ | 205,500,000.00 |
|
|
| |
A-3b notes Ending Principal balance |
| $ | 139,500,000.00 |
|
|
| |
A-4a notes Ending Principal balance |
| $ | 133,200,000.00 |
|
|
| |
A-4b notes Ending Principal balance |
| $ | 114,500,000.00 |
|
|
| |
B notes Ending Principal balance |
| $ | 37,053,544.32 |
|
|
| |
Certificate Ending Principal balance |
| $ | 23,000,000.00 |
|
|
| |
|
|
|
|
|
| ||
Release to Seller as Excess |
| $ | 2,121,133.73 |
| $ | 2,121,133.73 |
|
4
CNH Equipment Trust 2003-B
$234,000,000 Class A-1 1.23% Asset Backed Notes due December 13, 2004
$260,000,000 Class A-2 1.71% Asset Backed Notes due May 15, 2006
$205,500,000 Class A-3a Floating-Rate Asset Backed Notes due January 15, 2008
$139,500,000 Class A-3b 2.47% Asset Backed Notes due January 15, 2008
$133,200,000 Class A-4a Floating-Rate Asset Backed Notes due February 15, 2011
$114,500,000 Class A-4b 3.38% Asset Backed Notes due February 15, 2011
$40,300,000 Class B 3.35% Asset Backed Notes due February 15, 2011
$23,000,000 3.35% Asset Backed Certificates
Actual Payment Date |
|
|
|
|
| 4/15/2004 |
|
|
|
|
| |||
|
|
|
|
|
|
|
|
|
|
|
| |||
|
|
|
|
|
| Amount |
| Factor |
| Per/$1000 |
| |||
Summary and Factors |
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (Beginning of Period) |
|
|
|
|
| $ | 1,082,449,944.95 |
| 0.9412608 |
| $ | 941.26 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
| $ | 168,864,196.88 |
| 0.7216419 |
| $ | 721.64 |
| |
A-2 notes Beginning Principal balance |
|
|
|
|
| $ | 260,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
A-3a notes Beginning Principal balance |
|
|
|
|
| $ | 205,500,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
A-3b notes Beginning Principal balance |
|
|
|
|
| $ | 139,500,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
A-4a notes Beginning Principal balance |
|
|
|
|
| $ | 133,200,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
A-4b notes Beginning Principal balance |
|
|
|
|
| $ | 114,500,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
B notes Beginning Principal balance |
|
|
|
|
| $ | 37,885,748.07 |
| 0.9400930 |
| $ | 940.09 |
| |
Certificate Beginning Principal balance |
|
|
|
|
| $ | 23,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (End of Period) |
|
|
|
|
| $ | 1,058,672,695.00 |
| 0.9205850 |
| $ | 920.58 |
| |
A-1 notes Ending Principal balance |
|
|
| $ | 234,000,000.00 |
| $ | 145,919,150.68 |
| 0.6235861 |
| $ | 623.59 |
|
A-2 notes Ending Principal balance |
| Pro rata % |
| $ | 260,000,000.00 |
| $ | 260,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
A-3a notes Ending Principal balance |
| 59.57 | % | $ | 205,500,000.00 |
| $ | 205,500,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
A-3b notes Ending Principal balance |
| 40.43 | % | $ | 139,500,000.00 |
| $ | 139,500,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
A-4a notes Ending Principal balance |
| 53.77 | % | $ | 133,200,000.00 |
| $ | 133,200,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
A-4b notes Ending Principal balance |
| 46.23 | % | $ | 114,500,000.00 |
| $ | 114,500,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
B notes Ending Principal balance |
|
|
| $ | 40,300,000.00 |
| $ | 37,053,544.32 |
| 0.9194428 |
| $ | 919.44 |
|
Certificate Ending Principal balance |
|
|
| $ | 23,000,000.00 |
| $ | 23,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A-1 notes Interest Paid |
|
|
|
|
| $ | 178,855.33 |
| 0.0007643 |
| $ | 0.76 |
| |
Class A-2 notes Interest Paid |
|
|
|
|
| $ | 382,850.00 |
| 0.0014725 |
| $ | 1.47 |
| |
Class A-3a notes Interest Paid |
|
|
|
|
| $ | 217,658.75 |
| 0.0010592 |
| $ | 1.06 |
| |
Class A-3b notes Interest Paid |
|
|
|
|
| $ | 296,708.75 |
| 0.0021269 |
| $ | 2.13 |
| |
Class A-4a notes Interest Paid |
|
|
|
|
| $ | 151,404.00 |
| 0.0011367 |
| $ | 1.14 |
| |
Class A-4b notes Interest Paid |
|
|
|
|
| $ | 333,258.61 |
| 0.0029106 |
| $ | 2.91 |
| |
Class B notes Interest Paid |
|
|
|
|
| $ | 109,289.86 |
| 0.0027119 |
| $ | 2.71 |
| |
Certificate Interest Paid |
|
|
|
|
| $ | 66,348.61 |
| 0.0028847 |
| $ | 2.88 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
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 |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A-1 notes Principal Paid |
|
|
|
|
| $ | 22,945,046.20 |
| 0.0980558 |
| $ | 98.06 |
| |
Class A-2 notes Principal Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
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 |
|
|
|
|
| $ | 832,203.75 |
| 0.0206502 |
| $ | 20.65 |
| |
Certificate Principal Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry Account |
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry |
| 0.75000 | % | 11/25/2003 |
| 1.5730 | % |
|
|
|
| |||
Negitive Carry Days Remaining |
|
|
| 2/15/2004 |
| 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 | % | $ | 26,466,817.37 |
|
|
|
|
| ||
Required Spread Account Floor |
|
|
| 2.00 | % | $ | 23,000,000.00 |
|
|
|
|
| ||
Required Spread Account |
|
|
|
|
| $ | 26,466,817.37 |
|
|
|
|
| ||
Beginning Spread Account Balance |
|
|
|
|
| $ | 27,061,248.62 |
|
|
|
|
| ||
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 |
|
|
|
|
| $ | 594,431.25 |
|
|
|
|
| ||
Ending Spread Account Balance |
|
|
|
|
| $ | 26,466,817.37 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
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 |
|
|
|
|
| $ | 0.25 |
|
|
|
|
| ||
New Contract Value Purchased |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Deposits to Spread Account |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Deposits to Principal Supplement Account |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Ending Pre-funding Account Balance |
|
|
|
|
| $ | 0.25 |
|
|
|
|
| ||
Release to seller |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Release to Seller |
|
|
|
|
| $ | 3,617,773.27 |
|
|
|
|
| ||
5
