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 |
| ||
Cutoff Date |
| 8/31/2004 |
| ||||||||
Date Added |
| 4/30/2003 |
| 5/31/2003 |
| 6/30/2003 |
| 7/31/2003 |
| ||
Pool | Period |
| Pool 1 |
| Pool 2 |
| Pool 3 |
| Pool 4 |
| |
Scheduled Cashflows |
| 3,378,246.88 |
| 600,268.23 |
| 953,421.68 |
| 122,928.79 |
| ||
|
| 7,012,092.43 |
| 1,553,145.39 |
| 2,422,021.80 |
| 475,011.37 |
| ||
|
| 7,016,078.72 |
| 2,140,005.31 |
| 2,752,504.85 |
| 507,966.57 |
| ||
|
| 7,215,408.44 |
| 2,213,677.06 |
| 3,191,849.66 |
| 466,246.86 |
| ||
|
| 12,385,496.02 |
| 2,263,683.82 |
| 3,905,203.90 |
| 685,205.52 |
| ||
|
| 13,212,623.65 |
| 2,080,227.29 |
| 2,826,677.46 |
| 619,510.00 |
| ||
|
| 13,025,754.05 |
| 1,900,791.71 |
| 2,636,338.31 |
| 462,836.17 |
| ||
|
| 17,646,397.47 |
| 1,837,504.20 |
| 2,796,594.12 |
| 478,607.06 |
| ||
|
| 13,748,711.72 |
| 6,456,905.72 |
| 2,841,542.79 |
| 502,866.95 |
| ||
|
| 5,406,260.55 |
| 8,077,997.75 |
| 8,318,686.74 |
| 537,194.54 |
| ||
|
| 5,678,695.52 |
| 1,709,878.75 |
| 10,369,587.63 |
| 2,007,587.48 |
| ||
|
| 5,624,443.51 |
| 1,704,613.36 |
| 2,560,339.14 |
| 1,952,626.49 |
| ||
|
| 5,497,845.48 |
| 1,716,960.21 |
| 2,588,954.97 |
| 469,499.43 |
| ||
|
| 5,900,679.07 |
| 1,701,982.16 |
| 2,580,271.91 |
| 562,512.98 |
| ||
|
| 5,665,161.35 |
| 2,001,827.36 |
| 2,540,576.35 |
| 473,919.56 |
| ||
|
| 5,592,677.19 |
| 2,059,761.77 |
| 2,968,336.42 |
| 428,046.66 |
| ||
|
| 10,476,537.22 |
| 2,091,442.98 |
| 3,638,681.71 |
| 624,964.33 |
| ||
|
| 11,389,292.59 |
| 1,893,917.98 |
| 2,563,674.32 |
| 573,481.36 |
| ||
|
| 11,651,049.61 |
| 1,738,199.60 |
| 2,406,463.70 |
| 419,048.19 |
| ||
|
| 15,893,722.39 |
| 1,651,281.11 |
| 2,523,414.03 |
| 435,994.31 |
| ||
|
| 11,866,473.12 |
| 6,223,185.29 |
| 2,570,983.08 |
| 451,509.35 |
| ||
|
| 3,675,265.60 |
| 7,623,494.09 |
| 7,911,692.39 |
| 485,424.44 |
| ||
|
| 3,935,482.02 |
| 1,062,124.98 |
| 9,593,459.16 |
| 2,025,697.40 |
| ||
|
| 3,796,854.20 |
| 1,046,841.80 |
| 1,525,613.77 |
| 1,801,884.06 |
| ||
|
| 3,778,858.26 |
| 1,039,575.61 |
| 1,593,002.54 |
| 303,840.54 |
| ||
|
| 3,995,422.19 |
| 1,058,827.14 |
| 1,529,373.97 |
| 387,398.60 |
| ||
|
| 3,841,276.20 |
| 1,304,988.34 |
| 1,560,335.28 |
| 303,266.58 |
| ||
|
| 3,834,286.15 |
| 1,320,346.47 |
| 1,841,751.29 |
| 276,811.49 |
| ||
|
| 7,692,343.36 |
| 1,398,514.45 |
| 2,450,977.70 |
| 437,953.65 |
| ||
|
| 8,406,626.61 |
| 1,225,382.88 |
| 1,596,047.75 |
| 413,768.11 |
| ||
|
| 8,996,512.08 |
| 1,085,135.44 |
| 1,469,645.76 |
| 274,278.20 |
| ||
|
| 12,131,950.65 |
| 1,045,312.10 |
| 1,547,533.66 |
| 283,098.64 |
| ||
|
| 8,833,132.51 |
| 4,443,295.04 |
| 1,604,640.23 |
| 302,032.59 |
| ||
|
| 2,512,873.46 |
| 5,325,653.34 |
| 5,254,359.26 |
| 310,041.08 |
| ||
|
| 2,691,517.43 |
| 790,194.55 |
| 6,421,009.36 |
| 1,358,096.18 |
| ||
|
| 2,592,216.95 |
| 761,756.06 |
| 1,088,769.36 |
| 1,167,416.30 |
| ||
|
| 2,547,526.86 |
| 759,655.73 |
| 1,134,302.14 |
| 225,485.54 |
| ||
|
| 2,812,254.32 |
| 797,715.85 |
| 1,105,820.00 |
| 263,296.29 |
| ||
|
| 2,795,494.22 |
| 992,426.42 |
| 1,189,662.80 |
| 410,760.04 |
| ||
|
| 3,037,880.43 |
| 1,137,142.29 |
| 1,368,973.08 |
| 197,480.50 |
| ||
|
| 6,871,173.57 |
| 1,122,884.90 |
| 1,996,415.81 |
| 399,816.85 |
| ||
|
| 6,422,744.49 |
| 959,461.63 |
| 1,149,256.31 |
| 320,905.96 |
| ||
|
| 6,946,588.21 |
| 837,299.64 |
| 1,026,587.99 |
| 181,063.26 |
| ||
|
| 9,343,622.81 |
| 789,238.36 |
| 1,069,500.72 |
| 207,055.52 |
| ||
|
| 6,030,864.16 |
| 3,844,757.34 |
| 1,153,836.23 |
| 258,668.41 |
| ||
|
| 325,712.00 |
| 4,503,946.53 |
| 4,588,297.23 |
| 256,006.88 |
| ||
|
| 198,144.16 |
| 109,648.88 |
| 5,301,901.47 |
| 1,220,995.92 |
| ||
|
| 259,447.83 |
| 106,066.50 |
| 186,662.25 |
| 1,078,126.63 |
| ||
|
| 224,244.89 |
| 61,894.64 |
| 113,179.63 |
| 9,036.62 |
| ||
|
| 361,921.88 |
| 65,358.13 |
| 90,512.32 |
| 67,650.73 |
| ||
|
| 266,296.70 |
| 108,177.98 |
| 98,786.99 |
| 16,971.38 |
| ||
|
| 334,388.72 |
| 146,733.15 |
| 113,937.57 |
| 6,899.79 |
| ||
|
| 525,195.53 |
| 83,925.83 |
| 209,623.97 |
| 19,269.96 |
| ||
|
| 625,905.23 |
| 158,069.39 |
| 103,786.54 |
| 24,469.11 |
| ||
|
| 691,655.70 |
| 84,409.96 |
| 118,914.63 |
| 6,836.39 |
| ||
|
| 1,020,979.42 |
| 69,939.36 |
| 57,791.88 |
| 6,659.26 |
| ||
|
| 481,915.56 |
| 622,598.27 |
| 80,342.37 |
| 24,024.17 |
| ||
|
| 597.56 |
| 284,007.87 |
| 564,414.62 |
| 6,659.26 |
| ||
|
| 597.56 |
| 668.95 |
| 174,478.62 |
| 198,639.42 |
| ||
|
| 1,027.24 |
| 1,145.67 |
| 0.00 |
| 85,047.12 |
| ||
|
| 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 |
| ||
|
| 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 | Total |
| 328,124,443.70 |
| 101,795,872.61 |
| 139,941,321.22 |
| 28,880,396.84 |
| |
Discount Rate |
| 5.400 | % | 5.400 | % | 5.400 | % | 5.400 | % | ||
Beginning Contract Value |
| 310,834,700.35 |
| 94,948,605.81 |
| 131,149,361.99 |
| 27,185,673.26 |
| ||
Scheduled Contract Value Decline |
| 9,202,936.53 |
| 1,790,483.41 |
| 2,926,053.68 | �� | 609,866.45 |
| ||
Unscheduled Contract Value Decline |
| 1,085,229.20 |
| 507,952.46 |
| 763,800.15 |
| 442,938.00 |
| ||
Additional Contract Value Added |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
| ||
Ending Contract Value |
| 300,546,534.62 |
| 92,650,169.94 |
| 127,459,508.15 |
| 26,132,868.81 |
| ||
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
Dated Date (30/360) |
| 8/15/2004 |
|
|
| |
Dated Date (act/360) |
| 8/16/2004 |
|
|
| |
Scheduled Payment Date |
| 9/15/2004 |
|
|
| |
Actual Payment Date |
| 9/15/2004 |
|
|
| |
Days in accrual period (30/360) |
| 30 |
|
|
| |
Days in accrual period (act/360) |
| 30 |
|
|
| |
1 month LIBOR Rate |
| 1.60000 | % |
|
| |
|
|
|
|
|
| |
Collateral Summary |
|
|
|
|
| |
Wtd. Average Discount Rate |
| 5.400 | % |
|
| |
Beginning Contract Value |
| 564,118,341.41 |
|
|
| |
Scheduled Contract Value Decline |
| 14,529,340.07 |
|
|
| |
Unscheduled Contract Value Decline |
| 2,799,919.81 |
|
|
| |
Additional Contract Value Purchased |
| 0.00 |
|
|
| |
Ending Contract Value |
| 546,789,081.53 |
|
|
| |
|
|
|
|
|
| |
Beginning Pre-funding Account Balance |
| 0.00 |
|
|
| |
Ending Pre-funding Account Balance |
| 0.00 |
|
|
| |
|
|
|
|
|
| |
Total Beginning Balance (Pool Balance + Pre-funding Account Balance) |
| 564,118,341.41 |
|
|
| |
Total Ending Balance (Pool Balance + Pre-funding Account Balance) |
| 546,789,081.53 |
|
|
| |
|
|
|
|
|
| |
Collateral Performance |
|
|
|
|
| |
Scheduled Amounts 30 - 59 days past due |
| $ | 420,858.53 |
| 0.08 | % |
Scheduled Amounts 60 days or more past due |
| $ | 1,327,686.94 |
| 0.24 | % |
Net Losses on Liquidated Receivables |
| $ | 141,596.45 |
| 0.03 | % |
Cumulative Net Losses |
| $ | 2,217,553.65 |
|
|
|
Number of Loans at Beginning of Period |
| 35,173 |
|
|
| |
Number of Loans at End of Period |
| 34,401 |
|
|
| |
Repossessed Equipment not Sold or Reassigned (Beginning) |
| $ | 650,594.64 |
|
|
|
Repossessed Equipment not Sold or Reassigned (End) |
| $ | 717,470.04 |
|
|
|
|
|
|
|
|
| |
Collections and Reinvestment Income |
|
|
|
|
| |
Receipts During the period |
| $ | 19,730,756.41 |
|
|
|
|
|
|
|
|
| |
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 |
| $ | 19,730,756.41 |
|
|
|
|
|
|
|
|
| |
Reinvestment Income (excluding Pre-funding Account) |
| $ | 40,593.69 |
|
|
|
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 |
| $ | 19,771,350.10 |
|
|
|
|
|
|
|
|
| |
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-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
Actual Payment Date |
|
|
|
|
|
|
| 9/15/2004 |
| ||
|
|
|
|
|
|
|
|
|
| ||
Caclulation of Distributable Amounts |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| ||
Current Servicing Fee Due |
|
|
|
|
| 1.000 | % | $ | 470,098.62 |
| |
Past Due Servicing Fee |
|
|
|
|
|
|
| $ | 0.00 |
| |
Total Servicing Fee Due |
|
|
|
|
|
|
| $ | 470,098.62 |
| |
|
|
|
|
|
|
|
|
|
| ||
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) |
|
|
|
|
|
|
| $ | 564,118,341.41 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 57,284,495.31 |
| |
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 |
|
|
|
|
|
|
| $ | 18,333,846.10 |
| |
Certificate Beginning Principal balance |
|
|
|
|
|
|
| $ | 27,500,000.00 |
| |
|
| Type |
| Coupon/ |
| Swap Adj. |
| Day |
| |
A-1 notes Current Interest Due |
| Fix |
| 1.26250 | % | 1.26250 | % | $ | 0.00 |
|
A-2 notes Current Interest Due |
| Fix |
| 1.46000 | % | 1.46000 | % | $ | 69,696.14 |
|
A-3a notes Current Interest Due |
| Flt |
| 0.18000 | % | 1.86300 | % | $ | 222,500.00 |
|
A-3b notes Current Interest Due |
| Fix |
| 1.89000 | % | 1.89000 | % | $ | 170,100.00 |
|
A-4a notes Current Interest Due |
| Flt |
| 0.28000 | % | 2.55700 | % | $ | 167,633.33 |
|
A-4b notes Current Interest Due |
| Fix |
| 2.57000 | % | 2.57000 | % | $ | 205,600.00 |
|
B notes Current Interest Due |
| Fix |
| 3.13000 | % | 3.13000 | % | $ | 47,820.78 |
|
Certificate Current Interest Due |
| Fix |
| 3.13000 | % | 3.13000 | % | $ | 71,729.17 |
|
|
|
|
|
|
|
|
|
|
| |
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 |
|
|
|
|
|
|
| $ | 0.00 |
|
A-2 notes Total Interest Due |
|
|
|
|
|
|
| $ | 69,696.14 |
|
A-3a notes Total Interest Due |
|
|
|
|
|
|
| $ | 222,500.00 |
|
A-3b notes Total Interest Due |
|
|
|
|
|
|
| $ | 170,100.00 |
|
A-4a notes Total Interest Due |
|
|
|
|
|
|
| $ | 167,633.33 |
|
A-4b notes Total Interest Due |
|
|
|
|
|
|
| $ | 205,600.00 |
|
B notes Total Interest Due |
|
|
|
|
|
|
| $ | 47,820.78 |
|
Certificate Total Interest Due |
|
|
|
|
|
|
| $ | 71,729.17 |
|
|
|
|
|
|
| 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 | % | $ | 10,375.00 |
| |
A-3b Net Swap Payment Due |
|
|
|
|
| 0.00000 | % | $ | 0.00 |
| |
A-4a Net Swap Payment Due |
|
|
|
|
| 2.27700 | % | $ | 60,365.83 |
| |
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 |
|
|
|
|
|
|
| $ | 10,375.00 |
| |
A-3b Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4a Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 60,365.83 |
| |
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 |
|
|
|
|
|
|
| $ | 16,766,058.93 |
| |
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 notes Principal Due |
|
|
|
|
|
|
| $ | 563,200.95 |
| |
Certificate Principal Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
| ||
Total notes Interest Due |
|
|
|
|
|
|
| $ | 883,350.25 |
| |
Total notes Principal Due |
|
|
|
|
|
|
| $ | 17,329,259.88 |
| |
Net Swap/Termination Payment Due |
|
|
|
|
|
|
| $ | 70,740.83 |
| |
Total notes Distributable Amount |
|
|
|
|
|
|
| $ | 18,283,350.96 |
| |
3
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
Actual Payment Date |
| 9/15/2004 |
|
|
| ||
|
|
|
|
|
| ||
Cash Available for Distribution |
|
|
|
|
| ||
Total Collections + Reinvestment Income For The Period |
| $ | 19,771,350.10 |
|
|
| |
|
|
|
|
|
| ||
Beginning Negitive Carry Account |
| $ | 0.00 |
|
|
| |
Deposits from Negitive Carry Account to Distribution Account |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Beginning Spread Account Balance |
| $ | 20,000,000.01 |
|
|
| |
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 |
| $ | 19,771,350.10 |
|
|
| |
|
|
|
|
|
| ||
|
|
|
| Available |
| ||
Cash Allocation (Cashflow Waterfall) |
|
|
|
|
| ||
Servicing Fee Paid |
| $ | 470,098.62 |
|
|
| |
Servicing Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 19,301,251.48 |
| |
Administration Fee Paid |
| $ | 166.67 |
|
|
| |
Administration Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 19,301,084.81 |
| |
Net Swap Payment Paid |
| $ | 70,740.83 |
|
|
| |
Net Swap Payment Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Remaining Cash Available to Pay Note Interest & Swap Termination Payment |
|
|
| $ | 19,230,343.98 |
| |
|
|
|
|
|
| ||
Cash Available to Pay Note Interest |
| $ | 19,230,343.98 |
|
|
| |
Cash Available to Pay Termination Payment |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Class A-1 notes Interest Paid |
| $ | 0.00 |
|
|
| |
Class A-2 notes Interest Paid |
| $ | 69,696.14 |
|
|
| |
Class A-3a notes Interest Paid |
| $ | 222,500.00 |
|
|
| |
Class A-3b notes Interest Paid |
| $ | 170,100.00 |
|
|
| |
Class A-4a notes Interest Paid |
| $ | 167,633.33 |
|
|
| |
Class A-4b notes Interest Paid |
| $ | 205,600.00 |
|
|
| |
|
|
|
| $ | 18,394,814.51 |
| |
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 |
|
|
| |
|
|
|
| $ | 18,394,814.51 |
| |
Class B notes Interest Paid |
| $ | 47,820.78 |
|
|
| |
Class B notes Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 18,346,993.73 |
| |
Class A-1 notes Principal Paid |
| $ | 0.00 |
|
|
| |
Class A-2 notes Principal Paid |
| $ | 16,766,058.93 |
|
|
| |
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 |
| $ | 563,200.95 |
|
|
| |
|
|
|
| $ | 1,017,733.85 |
| |
Deposits to Spread Account |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 1,017,733.85 |
| |
Certificate Interest Paid |
| $ | 71,729.17 |
|
|
| |
Certificate Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 946,004.68 |
| |
Certificate Principal Paid |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 946,004.68 |
| |
Total Principal Balance of Notes and Certificates (End of Period) |
| $ | 546,789,081.53 |
|
|
| |
A-1 notes Ending Principal balance |
| $ | 0.00 |
|
|
| |
A-2 notes Ending Principal balance |
| $ | 40,518,436.38 |
|
|
| |
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 |
| $ | 17,770,645.15 |
|
|
| |
Certificate Ending Principal balance |
| $ | 27,500,000.00 |
|
|
| |
|
|
|
|
|
| ||
Release to Seller as Excess |
| $ | 946,004.68 |
| $ | 946,004.68 |
|
4
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
Actual Payment Date |
|
|
| 9/15/2004 |
|
|
|
|
|
|
| |||
|
|
|
|
|
|
|
|
|
|
|
| |||
Summary and Factors |
|
|
|
|
| Amount |
| Factor |
| Per/$1000 |
| |||
Total Principal Balance of Notes and Certificates (Beginning of Period) |
|
|
|
|
| $ | 564,118,341.41 |
| 0.5641183 |
| $ | 564.12 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
A-2 notes Beginning Principal balance |
|
|
|
|
| $ | 57,284,495.31 |
| 0.2282251 |
| $ | 228.23 |
| |
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 |
|
|
|
|
| $ | 18,333,846.10 |
| 0.5641183 |
| $ | 564.12 |
| |
Certificate Beginning Principal balance |
|
|
|
|
| $ | 27,500,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (End of Period) |
|
|
|
|
| $ | 546,789,081.53 |
| 0.5467891 |
| $ | 546.79 |
| |
A-1 notes Ending Principal balance |
|
|
| $ | 228,000,000.00 |
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
|
|
| Pro rata % |
|
|
|
|
|
|
|
|
|
|
|
|
A-2 notes Ending Principal balance |
|
|
| $ | 251,000,000.00 |
| $ | 40,518,436.38 |
| 0.1614280 |
| $ | 161.43 |
|
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 |
| $ | 17,770,645.15 |
| 0.5467891 |
| $ | 546.79 |
|
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 |
|
|
|
|
| $ | 69,696.14 |
| 0.0002777 |
| $ | 0.28 |
| |
Class A-3a notes Interest Paid |
|
|
|
|
| $ | 222,500.00 |
| 0.0014833 |
| $ | 1.48 |
| |
Class A-3b notes Interest Paid |
|
|
|
|
| $ | 170,100.00 |
| 0.0015750 |
| $ | 1.58 |
| |
Class A-4a notes Interest Paid |
|
|
|
|
| $ | 167,633.33 |
| 0.0015667 |
| $ | 1.57 |
| |
Class A-4b notes Interest Paid |
|
|
|
|
| $ | 205,600.00 |
| 0.0021417 |
| $ | 2.14 |
| |
Class B notes Interest Paid |
|
|
|
|
| $ | 47,820.78 |
| 0.0014714 |
| $ | 1.47 |
| |
Certificate Interest Paid |
|
|
|
|
| $ | 71,729.17 |
| 0.0026083 |
| $ | 2.61 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
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 |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A-2 notes Principal Paid |
|
|
|
|
| $ | 16,766,058.93 |
| 0.0667970 |
| $ | 66.80 |
| |
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 |
|
|
|
|
| $ | 563,200.95 |
| 0.0173293 |
| $ | 17.33 |
| |
Certificate Principal Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry Account |
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry |
| 0.75000 | % | 5/22/2003 |
| 1.3336 | % |
|
|
|
| |||
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 | % | $ | 13,669,727.04 |
|
|
|
|
| ||
Required Spread Account Floor |
|
|
| 2.00 | % | $ | 20,000,000.01 |
|
|
|
|
| ||
Required Spread Account |
|
|
|
|
| $ | 20,000,000.01 |
|
|
|
|
| ||
Beginning Spread Account Balance |
|
|
|
|
| $ | 20,000,000.01 |
|
|
|
|
| ||
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 |
|
|
|
|
| $ | 20,000,000.01 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
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 |
|
|
|
|
| $ | 435,011.61 |
|
|
|
|
| ||
Monthly Backup Servicing Fee (2bps/12*beginning balance or $4000 floor) |
|
|
|
|
| $ | 9,401.97 |
|
|
|
|
| ||
Accrued Backup Servicing Fee |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Total Backup Servicing Fee Due |
|
|
|
|
| $ | 9,401.97 |
|
|
|
|
| ||
Backup Servicing Fee Paid |
|
|
|
|
| $ | 9,401.97 |
|
|
|
|
| ||
Backup Servicer Investment Earnings |
|
|
|
|
| $ | 486.81 |
|
|
|
|
| ||
Ending Backup Servicing Account Balance |
|
|
|
|
| $ | 426,096.45 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Release to Seller |
|
|
|
|
| $ | 1,416,269.97 |
|
|
|
|
| ||
5
