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 |
|
|
| 7 |
| 7 |
| 7 |
| 7 |
|
Cutoff Date |
| 5/31/2004 |
| ||||||
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 |
| 3,116,355.69 |
| 429,343.07 |
| 620,373.58 |
| 653,437.36 |
|
|
| 14,092,241.79 |
| 1,184,495.25 |
| 2,274,066.24 |
| 2,499,961.97 |
|
|
| 18,960,738.73 |
| 1,387,819.66 |
| 2,106,346.49 |
| 2,535,527.22 |
|
|
| 23,403,233.00 |
| 1,417,949.29 |
| 2,210,262.19 |
| 2,457,609.98 |
|
|
| 33,578,067.82 |
| 2,267,646.61 |
| 2,916,946.34 |
| 2,975,504.56 |
|
|
| 21,999,101.23 |
| 7,763,213.76 |
| 2,890,458.63 |
| 2,305,056.21 |
|
|
| 11,984,252.88 |
| 7,809,886.55 |
| 10,212,846.44 |
| 3,074,282.50 |
|
|
| 12,010,583.11 |
| 1,890,033.49 |
| 13,960,071.38 |
| 16,563,048.16 |
|
|
| 10,219,174.14 |
| 1,673,690.23 |
| 2,545,077.12 |
| 10,625,898.32 |
|
|
| 8,752,919.67 |
| 1,333,512.44 |
| 2,014,206.31 |
| 2,038,893.35 |
|
|
| 9,006,779.37 |
| 1,399,983.91 |
| 2,237,200.09 |
| 2,378,807.22 |
|
|
| 9,141,160.27 |
| 1,706,774.60 |
| 2,083,475.43 |
| 2,311,008.41 |
|
|
| 8,305,335.21 |
| 1,482,749.30 |
| 2,399,218.95 |
| 2,047,295.65 |
|
|
| 13,208,736.92 |
| 1,269,417.74 |
| 2,335,146.09 |
| 2,480,450.20 |
|
|
| 17,438,201.11 |
| 1,295,110.84 |
| 2,010,389.94 |
| 2,355,128.55 |
|
|
| 21,177,115.45 |
| 1,307,306.10 |
| 2,016,721.26 |
| 2,279,462.07 |
|
|
| 29,495,242.93 |
| 2,123,010.72 |
| 2,793,333.21 |
| 2,656,309.74 |
|
|
| 19,423,210.93 |
| 7,439,499.55 |
| 2,765,830.00 |
| 2,153,990.40 |
|
|
| 9,906,875.31 |
| 7,517,124.00 |
| 9,794,642.45 |
| 2,888,995.97 |
|
|
| 10,390,842.07 |
| 1,739,882.07 |
| 13,349,725.94 |
| 15,772,939.06 |
|
|
| 8,933,158.98 |
| 1,502,324.91 |
| 2,260,579.83 |
| 10,154,535.96 |
|
|
| 7,572,842.25 |
| 1,169,555.40 |
| 1,722,615.73 |
| 1,721,521.77 |
|
|
| 7,890,499.70 |
| 1,233,004.43 |
| 1,930,378.06 |
| 2,047,862.94 |
|
|
| 7,926,549.43 |
| 1,511,074.55 |
| 1,753,888.45 |
| 1,920,680.53 |
|
|
| 7,124,166.30 |
| 1,263,986.18 |
| 2,012,571.37 |
| 1,630,581.12 |
|
|
| 11,712,410.15 |
| 1,057,282.16 |
| 1,948,033.45 |
| 1,931,579.24 |
|
|
| 15,538,391.08 |
| 1,064,617.26 |
| 1,622,810.21 |
| 1,863,047.65 |
|
|
| 18,636,709.09 |
| 1,081,460.24 |
| 1,595,553.90 |
| 1,806,330.33 |
|
|
| 26,459,940.70 |
| 1,870,717.69 |
| 2,333,897.81 |
| 2,098,562.66 |
|
|
| 16,736,892.87 |
| 7,126,752.98 |
| 2,368,656.28 |
| 1,695,067.02 |
|
|
| 7,175,591.30 |
| 7,026,415.40 |
| 9,176,443.97 |
| 2,374,839.82 |
|
|
| 7,484,059.25 |
| 1,396,004.07 |
| 12,548,109.81 |
| 14,820,525.40 |
|
|
| 6,273,938.62 |
| 1,129,718.35 |
| 1,740,415.63 |
| 9,657,842.79 |
|
|
| 4,980,640.21 |
| 853,212.67 |
| 1,224,679.64 |
| 1,279,957.69 |
|
|
| 5,226,667.34 |
| 912,539.66 |
| 1,400,131.43 |
| 1,521,051.03 |
|
|
| 5,428,410.94 |
| 1,173,236.25 |
| 1,243,049.96 |
| 1,423,232.37 |
|
|
| 4,628,214.92 |
| 950,434.39 |
| 1,414,813.36 |
| 1,155,043.45 |
|
|
| 7,690,724.31 |
| 761,053.34 |
| 1,340,876.68 |
| 1,401,139.23 |
|
|
| 10,842,569.07 |
| 750,514.28 |
| 1,134,608.95 |
| 1,337,181.60 |
|
|
| 13,896,629.23 |
| 778,108.62 |
| 1,081,160.79 |
| 1,296,833.39 |
|
|
| 20,226,313.46 |
| 1,479,301.49 |
| 1,699,848.29 |
| 1,512,208.26 |
|
|
| 12,614,494.97 |
| 5,837,992.75 |
| 1,778,900.20 |
| 1,301,459.09 |
|
|
| 5,342,362.64 |
| 5,838,851.99 |
| 7,172,556.54 |
| 1,794,021.54 |
|
|
| 5,654,399.96 |
| 1,106,684.46 |
| 10,016,996.78 |
| 11,542,676.87 |
|
|
| 4,747,346.34 |
| 859,691.88 |
| 1,322,116.55 |
| 7,831,390.87 |
|
|
| 3,471,281.23 |
| 580,357.20 |
| 839,144.98 |
| 875,929.66 |
|
|
| 3,554,737.22 |
| 698,985.69 |
| 1,021,651.48 |
| 1,121,561.61 |
|
|
| 3,734,991.06 |
| 886,201.10 |
| 844,079.99 |
| 982,456.83 |
|
|
| 3,180,609.82 |
| 677,319.27 |
| 989,548.87 |
| 745,550.70 |
|
|
| 6,114,096.45 |
| 499,927.12 |
| 888,657.46 |
| 910,986.75 |
|
|
| 9,851,176.10 |
| 532,501.69 |
| 732,756.38 |
| 908,510.31 |
|
|
| 11,930,607.31 |
| 530,465.81 |
| 794,206.91 |
| 863,201.11 |
|
|
| 17,051,612.81 |
| 1,209,706.53 |
| 1,171,767.47 |
| 1,069,786.50 |
|
|
| 8,715,341.19 |
| 5,374,152.40 |
| 1,485,099.44 |
| 884,173.54 |
|
|
| 1,282,008.74 |
| 5,667,350.67 |
| 6,237,386.26 |
| 1,656,738.14 |
|
|
| 1,137,608.28 |
| 141,788.18 |
| 9,647,766.91 |
| 13,188,633.29 |
|
|
| 608,934.20 |
| 163,577.53 |
| 401,070.61 |
| 6,687,912.34 |
|
|
| 467,321.77 |
| 49,217.00 |
| 137,706.66 |
| 154,580.93 |
|
|
| 378,399.19 |
| 76,077.54 |
| 124,625.86 |
| 119,965.47 |
|
|
| 602,523.83 |
| 109,174.31 |
| 51,207.41 |
| 58,552.92 |
|
|
| 317,181.19 |
| 75,865.36 |
| 85,743.86 |
| 54,918.99 |
|
|
| 632,183.28 |
| 78,534.89 |
| 83,337.16 |
| 130,660.43 |
|
|
| 928,166.77 |
| 55,347.37 |
| 67,896.28 |
| 127,839.80 |
|
|
| 1,224,160.28 |
| 67,570.70 |
| 141,664.73 |
| 129,717.83 |
|
|
| 2,037,626.93 |
| 174,365.46 |
| 52,502.34 |
| 91,831.91 |
|
|
| 1,097,153.40 |
| 780,567.41 |
| 182,872.74 |
| 98,443.59 |
|
|
| 0.00 |
| 749,806.89 |
| 750,753.96 |
| 122,854.80 |
|
|
| 0.00 |
| 0.00 |
| 1,145,986.77 |
| 1,531,550.23 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 961,413.08 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 830.04 |
|
|
| 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 |
| 634,671,811.79 |
| 123,351,844.70 |
| 185,257,466.28 |
| 203,651,380.32 |
|
Discount Rate |
| 5.750 | % | 5.750 | % | 5.750 | % | 5.750 | % |
Beginning Contract Value |
| 579,557,212.01 |
| 110,770,978.43 |
| 166,449,044.47 |
| 181,529,424.37 |
|
Scheduled Contract Value Decline |
| 8,309,078.45 |
| 1,181,503.12 |
| 1,900,052.25 |
| 1,590,575.15 |
|
Unscheduled Contract Value Decline |
| 1,908,039.43 |
| 401,943.39 |
| 674,589.32 |
| 540,106.97 |
|
Additional Contract Value Added |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
Ending Contract Value |
| 569,340,094.13 |
| 109,187,531.92 |
| 163,874,402.90 |
| 179,398,742.25 |
|
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) |
| 5/15/2004 |
|
|
| |
Dated Date (act/360) |
| 5/17/2004 |
|
|
| |
Scheduled Payment Date |
| 6/15/2004 |
|
|
| |
Actual Payment Date |
| 6/15/2004 |
|
|
| |
Days in accrual period (30/360) |
| 30 |
|
|
| |
Days in accrual period (act/360) |
| 29 |
|
|
| |
1 month LIBOR Rate |
| 1.10000 | % |
|
| |
|
|
|
|
|
| |
Collateral Summary |
|
|
|
|
| |
Wtd. Average Discount Rate |
| 5.750 | % |
|
| |
Beginning Contract Value |
| 1,038,306,659.29 |
|
|
| |
Scheduled Contract Value Decline |
| 12,981,208.97 |
|
|
| |
Unscheduled Contract Value Decline |
| 3,524,679.11 |
|
|
| |
Additional Contract Value Purchased |
| 0.00 |
|
|
| |
Ending Contract Value |
| 1,021,800,771.21 |
|
|
| |
|
|
|
|
|
| |
Beginning Pre-funding Account Balance |
| 0.25 |
|
|
| |
Ending Pre-funding Account Balance |
| 0.25 |
|
|
| |
|
|
|
|
|
| |
Total Beginning Balance (Pool Balance + Pre-funding Account Balance) |
| 1,038,306,659.53 |
|
|
| |
Total Ending Balance (Pool Balance + Pre-funding Account Balance) |
| 1,021,800,771.45 |
|
|
| |
|
|
|
|
|
| |
Collateral Performance |
|
|
|
|
| |
Scheduled Amounts 30 - 59 days past due |
| $ | 377,052.74 |
| 0.04 | % |
Scheduled Amounts 60 days or more past due |
| $ | 323,638.42 |
| 0.03 | % |
Net Losses on Liquidated Receivables |
| $ | 14,362.61 |
| 0.00 | % |
Cumulative Net Losses |
| $ | 412,193.35 |
|
|
|
Number of Loans at Beginning of Period |
| 41,835 |
|
|
| |
Number of Loans at End of Period |
| 41,372 |
|
|
| |
Repossessed Equipment not Sold or Reassigned (Beginning) |
| $ | 403,089.79 |
|
|
|
Repossessed Equipment not Sold or Reassigned (End) |
| $ | 322,441.03 |
|
|
|
|
|
|
|
|
| |
Collections and Reinvestment Income |
|
|
|
|
| |
Receipts During the period |
| $ | 21,452,732.53 |
|
|
|
|
|
|
|
|
| |
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 |
| $ | 21,452,732.53 |
|
|
|
|
|
|
|
|
| |
Reinvestment Income (excluding Pre-funding Account) |
| $ | 36,911.47 |
|
|
|
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 |
| $ | 21,489,644.00 |
|
|
|
|
|
|
|
|
| |
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 |
|
|
|
|
|
|
| 6/15/2004 |
|
Caclulation of Distributable Amounts |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| ||
Backup Servicer Engaged? |
|
|
|
|
|
|
| YES |
| ||
Current Backup Servicing Fee Due |
|
|
|
|
|
|
| $ | 17,305.11 |
| |
Past Due Backup Servicing Fee |
|
|
|
|
|
|
| $ | 0.00 |
| |
Total Backup Servicing Fee Due |
|
|
|
|
|
|
| $ | 17,305.11 |
| |
|
|
|
|
|
|
|
|
|
| ||
CNH or SST? |
|
|
|
|
|
|
| CNH |
| ||
Current Servicing Fee Due |
|
|
|
|
|
|
| $ | 865,255.55 |
| |
Past Due Servicing Fee |
|
|
|
|
|
|
| $ | 0.00 |
| |
Total Servicing Fee Due |
|
|
|
|
|
|
| $ | 865,255.55 |
| |
|
|
|
|
|
|
|
|
|
| ||
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) |
|
|
|
|
|
|
| $ | 1,038,306,659.53 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 126,265,926.45 |
| |
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 |
|
|
|
|
|
|
| $ | 36,340,733.08 |
| |
Certificate Beginning Principal balance |
|
|
|
|
|
|
| $ | 23,000,000.00 |
| |
|
| Type |
| Coupon/ |
| Swap Adj. |
|
|
| |
A-1 notes Current Interest Due |
| Fix |
| 1.23000 | % | 1.23000 | % | $ | 125,108.49 |
|
A-2 notes Current Interest Due |
| Fix |
| 1.71000 | % | 1.71000 | % | $ | 358,150.00 |
|
A-3a notes Current Interest Due |
| Flt |
| 0.14000 | % | 2.49500 | % | $ | 205,271.67 |
|
A-3b notes Current Interest Due |
| Fix |
| 2.47000 | % | 2.47000 | % | $ | 277,566.25 |
|
A-4a notes Current Interest Due |
| Flt |
| 0.23000 | % | 3.37500 | % | $ | 142,709.00 |
|
A-4b notes Current Interest Due |
| Fix |
| 3.38000 | % | 3.38000 | % | $ | 311,758.06 |
|
B notes Current Interest Due |
| Fix |
| 3.35000 | % | 3.35000 | % | $ | 98,069.51 |
|
Certificate Current Interest Due |
| Fix |
| 3.35000 | % | 3.35000 | % | $ | 62,068.06 |
|
|
|
|
|
|
|
|
|
|
| |
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 |
|
|
|
|
|
|
| $ | 125,108.49 |
|
A-2 notes Total Interest Due |
|
|
|
|
|
|
| $ | 358,150.00 |
|
A-3a notes Total Interest Due |
|
|
|
|
|
|
| $ | 205,271.67 |
|
A-3b notes Total Interest Due |
|
|
|
|
|
|
| $ | 277,566.25 |
|
A-4a notes Total Interest Due |
|
|
|
|
|
|
| $ | 142,709.00 |
|
A-4b notes Total Interest Due |
|
|
|
|
|
|
| $ | 311,758.06 |
|
B notes Total Interest Due |
|
|
|
|
|
|
| $ | 98,069.51 |
|
Certificate Total Interest Due |
|
|
|
|
|
|
| $ | 62,068.06 |
|
|
|
|
|
|
| 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 | % | $ | 221,197.92 |
|
A-3b Net Swap Payment Due |
|
|
|
|
| 0.00000 | % | $ | 0.00 |
|
A-4a Net Swap Payment Due |
|
|
|
|
| 3.14500 | % | $ | 231,065.00 |
|
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 |
|
|
|
|
|
|
| $ | 221,197.92 |
|
A-3b Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 0.00 |
|
A-4a Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 231,065.00 |
|
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 |
|
|
|
|
|
|
| $ | 15,928,182.00 |
|
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 |
|
|
|
|
|
|
| $ | 10,462,833.52 |
|
Class B notes Principal Due |
|
|
|
|
|
|
| $ | 577,706.08 |
|
Reallocated Class B Principal |
|
|
|
|
|
|
| $ | 0.00 |
|
|
|
|
|
|
|
|
|
|
| |
Certificate Principal Due |
|
|
|
|
|
|
| $ | 0.00 |
|
|
|
|
|
|
|
|
|
|
| |
Total notes Interest Due |
|
|
|
|
|
|
| $ | 1,518,632.97 |
|
Total notes Principal Due |
|
|
|
|
|
|
| $ | 16,505,888.08 |
|
Net Swap/Termination Payment Due |
|
|
|
|
|
|
| $ | 452,262.92 |
|
Total notes Distributable Amount |
|
|
|
|
|
|
| $ | 18,476,783.96 |
|
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 |
| 6/15/2004 |
|
|
|
Cash Available for Distribution |
|
|
|
|
| ||
Total Collections + Reinvestment Income For The Period |
| $ | 21,489,644.00 |
|
|
| |
|
|
|
|
|
| ||
Beginning Negitive Carry Account |
| $ | 0.00 |
|
|
| |
Deposits from Negitive Carry Account to Distribution Account |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Beginning Spread Account Balance |
| $ | 25,957,666.48 |
|
|
| |
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 |
| $ | 21,489,644.00 |
|
|
| |
|
|
|
|
|
| ||
Cash Allocation (Cashflow Waterfall) |
|
|
| Available |
| ||
|
|
|
|
|
| ||
Backup Servicing Fee Paid |
| $ | 17,305.11 |
|
|
| |
Backup Servicing Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| 21,472,338.89 |
| ||
Servicing Fee Paid |
| $ | 865,255.55 |
|
|
| |
Servicing Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 20,607,083.34 |
| |
Administration Fee Paid |
| $ | 166.67 |
|
|
| |
Administration Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 20,606,916.67 |
| |
Net Swap Payment Paid |
| $ | 452,262.92 |
|
|
| |
Net Swap Payment Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Remaining Cash Available to Pay Note Interest & Swap Termination Payment |
|
|
| $ | 20,154,653.75 |
| |
|
|
|
|
|
| ||
Cash Available to Pay Note Interest |
| $ | 20,154,653.75 |
|
|
| |
Cash Available to Pay Termination Payment |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Class A-1 notes Interest Paid |
| $ | 125,108.49 |
|
|
| |
Class A-2 notes Interest Paid |
| $ | 358,150.00 |
|
|
| |
Class A-3a notes Interest Paid |
| $ | 205,271.67 |
|
|
| |
Class A-3b notes Interest Paid |
| $ | 277,566.25 |
|
|
| |
Class A-4a notes Interest Paid |
| $ | 142,709.00 |
|
|
| |
Class A-4b notes Interest Paid |
| $ | 311,758.06 |
|
|
| |
|
|
|
| $ | 18,734,090.29 |
| |
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 |
|
|
| |
|
|
|
| $ | 18,734,090.29 |
| |
Class B notes Interest Paid |
| $ | 98,069.51 |
|
|
| |
Class B notes Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 18,636,020.79 |
| |
Class A-1 notes Principal Paid |
| $ | 15,928,182.00 |
|
| �� | |
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 |
| $ | 577,706.08 |
|
|
| |
|
|
|
| $ | 2,130,132.71 |
| |
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 |
| $ | 2,130,132.71 |
|
Reallocated Class A-2 notes Principal Paid |
| $ | 0.00 |
|
|
| |
Remaining Class B Principal Reallocation Amount |
| $ | 0.00 |
| $ | 2,130,132.71 |
|
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 |
| $ | 2,130,132.71 |
|
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 |
| $ | 2,130,132.71 |
|
|
|
|
|
|
| ||
Deposits to Spread Account |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 2,130,132.71 |
| |
Certificate Interest Paid |
| $ | 62,068.06 |
|
|
| |
Certificate Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 2,068,064.65 |
| |
Certificate Principal Paid |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 2,068,064.65 |
| |
Total Principal Balance of Notes and Certificates (End of Period) |
| $ | 1,021,800,771.45 |
|
|
| |
A-1 notes Ending Principal balance |
| $ | 110,337,744.45 |
|
|
| |
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 |
| $ | 35,763,027.00 |
|
|
| |
Certificate Ending Principal balance |
| $ | 23,000,000.00 |
|
|
| |
|
|
|
|
|
| ||
Release to Seller as Excess |
| $ | 2,068,064.65 |
| $ | 2,068,064.65 |
|
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 |
|
|
|
|
| 6/15/2004 |
|
|
|
|
|
|
|
|
|
|
| Amount |
| Factor |
| Per/$1000 |
| |||
Summary and Factors |
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (Beginning of Period) |
|
|
|
|
| $ | 1,038,306,659.53 |
| 0.9028754 |
| $ | 902.88 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
| $ | 126,265,926.45 |
| 0.5395980 |
| $ | 539.60 |
| |
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 |
|
|
|
|
| $ | 36,340,733.08 |
| 0.9017552 |
| $ | 901.76 |
| |
Certificate Beginning Principal balance |
|
|
|
|
| $ | 23,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (End of Period) |
|
|
|
|
| $ | 1,021,800,771.45 |
| 0.8885224 |
| $ | 888.52 |
| |
A-1 notes Ending Principal balance |
|
|
| $ | 234,000,000.00 |
| $ | 110,337,744.45 |
| 0.4715288 |
| $ | 471.53 |
|
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 |
| $ | 35,763,027.00 |
| 0.8874200 |
| $ | 887.42 |
|
Certificate Ending Principal balance |
|
|
| $ | 23,000,000.00 |
| $ | 23,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A-1 notes Interest Paid |
|
|
|
|
| $ | 125,108.49 |
| 0.0005347 |
| $ | 0.53 |
| |
Class A-2 notes Interest Paid |
|
|
|
|
| $ | 358,150.00 |
| 0.0013775 |
| $ | 1.38 |
| |
Class A-3a notes Interest Paid |
|
|
|
|
| $ | 205,271.67 |
| 0.0009989 |
| $ | 1.00 |
| |
Class A-3b notes Interest Paid |
|
|
|
|
| $ | 277,566.25 |
| 0.0019897 |
| $ | 1.99 |
| |
Class A-4a notes Interest Paid |
|
|
|
|
| $ | 142,709.00 |
| 0.0010714 |
| $ | 1.07 |
| |
Class A-4b notes Interest Paid |
|
|
|
|
| $ | 311,758.06 |
| 0.0027228 |
| $ | 2.72 |
| |
Class B notes Interest Paid |
|
|
|
|
| $ | 98,069.51 |
| 0.0024335 |
| $ | 2.43 |
| |
Certificate Interest Paid |
|
|
|
|
| $ | 62,068.06 |
| 0.0026986 |
| $ | 2.70 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
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 |
|
|
|
|
| $ | 15,928,182.00 |
| 0.0680692 |
| $ | 68.07 |
| |
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 |
|
|
|
|
| $ | 577,706.08 |
| 0.0143351 |
| $ | 14.34 |
| |
Certificate Principal Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry Account |
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry |
| 0.75000 | % | 11/25/2003 |
| 1.6098 | % |
|
|
|
| |||
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 | % | $ | 25,545,019.28 |
|
|
|
|
| ||
Required Spread Account Floor |
|
|
| 2.00 | % | $ | 23,000,000.00 |
|
|
|
|
| ||
Required Spread Account |
|
|
|
|
| $ | 25,545,019.28 |
|
|
|
|
| ||
Beginning Spread Account Balance |
|
|
|
|
| $ | 25,957,666.48 |
|
|
|
|
| ||
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 |
|
|
|
|
| $ | 412,647.20 |
|
|
|
|
| ||
Ending Spread Account Balance |
|
|
|
|
| $ | 25,545,019.28 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
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 |
|
|
|
|
| $ | 3,346,134.07 |
|
|
|
|
| ||
5
