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 |
|
|
| 10 |
| 10 |
| 10 |
| 10 |
|
Cutoff Date |
| 8/31/2004 |
| ||||||
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 |
| 5,799,555.71 |
| 389,763.46 |
| 580,494.64 |
| 646,800.21 |
|
|
| 25,952,359.01 |
| 1,573,879.63 |
| 2,223,365.15 |
| 2,371,182.01 |
|
|
| 20,886,589.66 |
| 7,340,379.57 |
| 2,759,527.26 |
| 2,199,447.80 |
|
|
| 11,575,485.92 |
| 7,330,020.20 |
| 9,583,016.90 |
| 2,980,672.17 |
|
|
| 11,368,663.07 |
| 1,819,434.19 |
| 12,969,388.48 |
| 15,920,708.64 |
|
|
| 9,783,295.07 |
| 1,613,461.34 |
| 2,460,350.17 |
| 9,987,500.57 |
|
|
| 8,450,371.20 |
| 1,295,739.09 |
| 1,947,937.96 |
| 1,989,549.62 |
|
|
| 8,690,427.05 |
| 1,363,239.21 |
| 2,165,630.69 |
| 2,336,137.73 |
|
|
| 8,883,251.56 |
| 1,639,410.38 |
| 2,018,844.51 |
| 2,266,584.37 |
|
|
| 8,068,120.76 |
| 1,451,148.98 |
| 2,322,774.52 |
| 2,010,432.50 |
|
|
| 12,733,053.60 |
| 1,238,172.89 |
| 2,237,195.67 |
| 2,416,924.00 |
|
|
| 16,546,442.58 |
| 1,243,958.49 |
| 1,941,876.09 |
| 2,269,706.68 |
|
|
| 19,590,403.82 |
| 1,277,372.59 |
| 1,939,184.64 |
| 2,227,414.49 |
|
|
| 27,097,433.98 |
| 1,887,290.80 |
| 2,527,080.10 |
| 2,513,138.08 |
|
|
| 18,711,708.61 |
| 7,134,176.52 |
| 2,697,010.06 |
| 2,107,223.75 |
|
|
| 9,627,656.19 |
| 7,080,500.79 |
| 9,252,777.99 |
| 2,830,744.44 |
|
|
| 9,895,805.50 |
| 1,684,879.97 |
| 12,469,554.14 |
| 15,172,210.11 |
|
|
| 8,634,151.39 |
| 1,459,076.75 |
| 2,195,226.19 |
| 9,588,736.47 |
|
|
| 7,342,944.12 |
| 1,141,251.82 |
| 1,673,477.95 |
| 1,687,320.03 |
|
|
| 7,630,416.46 |
| 1,203,400.72 |
| 1,878,967.29 |
| 2,018,199.92 |
|
|
| 7,735,876.62 |
| 1,447,410.16 |
| 1,693,904.06 |
| 1,889,018.69 |
|
|
| 6,970,447.87 |
| 1,236,000.59 |
| 1,949,856.47 |
| 1,604,552.14 |
|
|
| 11,355,747.79 |
| 1,030,070.31 |
| 1,850,545.38 |
| 1,876,602.72 |
|
|
| 14,730,788.28 |
| 1,033,655.00 |
| 1,567,494.68 |
| 1,797,745.00 |
|
|
| 17,269,629.94 |
| 1,052,368.98 |
| 1,533,771.07 |
| 1,771,285.46 |
|
|
| 24,242,184.23 |
| 1,648,994.13 |
| 2,128,020.28 |
| 1,967,336.55 |
|
|
| 16,115,253.56 |
| 6,850,785.89 |
| 2,309,625.87 |
| 1,664,056.52 |
|
|
| 6,947,658.90 |
| 6,665,260.98 |
| 8,651,841.26 |
| 2,331,464.29 |
|
|
| 7,056,681.96 |
| 1,361,469.40 |
| 11,747,969.97 |
| 14,223,940.34 |
|
|
| 6,055,664.10 |
| 1,094,792.73 |
| 1,689,043.41 |
| 9,108,953.59 |
|
|
| 4,817,438.35 |
| 833,444.44 |
| 1,187,609.26 |
| 1,256,856.93 |
|
|
| 5,047,012.31 |
| 892,770.09 |
| 1,362,167.62 |
| 1,499,522.00 |
|
|
| 5,306,236.22 |
| 1,119,324.53 |
| 1,186,415.42 |
| 1,400,012.36 |
|
|
| 4,512,100.07 |
| 931,698.00 |
| 1,363,798.32 |
| 1,137,394.24 |
|
|
| 7,397,829.07 |
| 742,761.24 |
| 1,280,223.44 |
| 1,360,669.20 |
|
|
| 10,224,147.60 |
| 732,772.96 |
| 1,087,694.54 |
| 1,310,339.05 |
|
|
| 12,714,219.74 |
| 760,510.21 |
| 1,027,675.79 |
| 1,279,182.70 |
|
|
| 18,612,698.23 |
| 1,335,602.17 |
| 1,603,917.87 |
| 1,413,176.25 |
|
|
| 12,166,471.66 |
| 5,579,211.43 |
| 1,729,126.13 |
| 1,278,196.16 |
|
|
| 5,247,695.94 |
| 5,564,474.41 |
| 6,671,010.75 |
| 1,764,543.28 |
|
|
| 5,299,722.86 |
| 1,076,061.05 |
| 9,453,561.93 |
| 11,129,301.76 |
|
|
| 4,490,214.11 |
| 828,891.36 |
| 1,284,601.88 |
| 7,394,990.49 |
|
|
| 3,368,512.67 |
| 564,235.92 |
| 817,461.97 |
| 866,621.40 |
|
|
| 3,426,586.62 |
| 682,805.24 |
| 999,684.28 |
| 1,110,183.86 |
|
|
| 3,656,329.14 |
| 866,731.36 |
| 800,973.04 |
| 967,479.54 |
|
|
| 3,111,935.14 |
| 660,853.02 |
| 954,167.65 |
| 735,924.10 |
|
|
| 5,892,163.58 |
| 483,941.70 |
| 850,728.88 |
| 882,990.60 |
|
|
| 9,135,229.71 |
| 480,187.50 |
| 704,479.55 |
| 896,389.50 |
|
|
| 10,808,893.85 |
| 512,780.67 |
| 773,979.90 |
| 854,158.42 |
|
|
| 15,559,289.56 |
| 1,061,445.89 |
| 1,100,550.92 |
| 1,010,260.24 |
|
|
| 8,523,365.12 |
| 5,120,488.05 |
| 1,456,593.32 |
| 869,170.01 |
|
|
| 1,336,371.88 |
| 5,372,646.67 |
| 5,863,343.33 |
| 1,590,960.58 |
|
|
| 931,081.38 |
| 140,116.19 |
| 9,152,117.95 |
| 12,713,705.33 |
|
|
| 577,067.34 |
| 161,996.03 |
| 399,956.69 |
| 6,317,931.45 |
|
|
| 461,651.73 |
| 47,638.66 |
| 136,565.45 |
| 154,157.50 |
|
|
| 372,507.34 |
| 74,494.12 |
| 123,487.96 |
| 129,168.41 |
|
|
| 595,403.33 |
| 107,281.88 |
| 50,075.98 |
| 52,576.81 |
|
|
| 311,569.78 |
| 73,673.65 |
| 70,958.87 |
| 54,504.32 |
|
|
| 598,002.00 |
| 75,432.04 |
| 82,125.44 |
| 130,247.06 |
|
|
| 867,184.70 |
| 53,514.19 |
| 66,755.35 |
| 127,081.38 |
|
|
| 1,128,837.19 |
| 65,992.36 |
| 140,522.65 |
| 129,673.47 |
|
|
| 1,799,506.09 |
| 155,341.03 |
| 50,935.15 |
| 91,416.85 |
|
|
| 1,069,386.29 |
| 778,707.06 |
| 180,907.31 |
| 92,470.27 |
|
|
| 41,041.68 |
| 693,864.61 |
| 735,114.59 |
| 122,419.28 |
|
|
| 0.00 |
| 0.00 |
| 1,144,867.67 |
| 1,531,084.57 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 923,011.01 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 829.07 |
|
|
| 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 |
| 545,155,770.79 |
| 113,219,055.29 |
| 168,859,909.70 |
| 188,354,188.34 |
|
Discount Rate |
| 5.750 | % | 5.750 | % | 5.750 | % | 5.750 | % |
Beginning Contract Value |
| 529,825,702.45 |
| 105,452,201.66 |
| 158,277,000.84 |
| 172,775,433.33 |
|
Scheduled Contract Value Decline |
| 23,036,338.42 |
| 1,065,300.02 |
| 1,654,474.29 |
| 1,935,587.32 |
|
Unscheduled Contract Value Decline |
| 15,842,084.31 |
| 3,196,213.41 |
| 5,866,156.49 |
| 3,396,692.01 |
|
Additional Contract Value Added |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
Ending Contract Value |
| 490,947,279.73 |
| 101,190,688.23 |
| 150,756,370.06 |
| 167,443,154.01 |
|
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) |
| 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 |
| 5.750 | % |
|
| |
Beginning Contract Value |
| 966,330,338.29 |
|
|
| |
Scheduled Contract Value Decline |
| 27,691,700.05 |
|
|
| |
Unscheduled Contract Value Decline |
| 28,301,146.21 |
|
|
| |
Additional Contract Value Purchased |
| 0.00 |
|
|
| |
Ending Contract Value |
| 910,337,492.03 |
|
|
| |
|
|
|
|
|
| |
Beginning Pre-funding Account Balance |
| 0.25 |
|
|
| |
Ending Pre-funding Account Balance |
| 0.25 |
|
|
| |
|
|
|
|
|
| |
Total Beginning Balance (Pool Balance + Pre-funding Account Balance) |
| 966,330,338.54 |
|
|
| |
Total Ending Balance (Pool Balance + Pre-funding Account Balance) |
| 910,337,492.28 |
|
|
| |
|
|
|
|
|
| |
Collateral Performance |
|
|
|
|
| |
Scheduled Amounts 30 - 59 days past due |
| $ | 595,630.04 |
| 0.07 | % |
Scheduled Amounts 60 days or more past due |
| $ | 418,619.72 |
| 0.05 | % |
Net Losses on Liquidated Receivables |
| $ | 117,523.48 |
| 0.01 | % |
Cumulative Net Losses |
| $ | 841,921.10 |
|
|
|
Number of Loans at Beginning of Period |
| 40,081 |
|
|
| |
Number of Loans at End of Period |
| 38,984 |
|
|
| |
Repossessed Equipment not Sold or Reassigned (Beginning) |
| $ | 609,383.26 |
|
|
|
Repossessed Equipment not Sold or Reassigned (End) |
| $ | 677,685.73 |
|
|
|
|
|
|
|
|
| |
Collections and Reinvestment Income |
|
|
|
|
| |
Receipts During the period |
| $ | 60,489,649.46 |
|
|
|
|
|
|
|
|
| |
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 |
| $ | 60,489,649.46 |
|
|
|
|
|
|
|
|
| |
Reinvestment Income (excluding Pre-funding Account) |
| $ | 62,748.63 |
|
|
|
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 |
| $ | 60,552,398.09 |
|
|
|
|
|
|
|
|
| |
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 |
|
|
|
|
|
|
| 9/15/2004 |
| ||
|
|
|
|
|
|
|
|
|
| ||
Caclulation of Distributable Amounts |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| ||
Backup Servicer Engaged? |
|
|
|
|
|
|
| YES |
| ||
Current Backup Servicing Fee Due |
|
|
|
|
|
|
| $ | 16,105.51 |
| |
Past Due Backup Servicing Fee |
|
|
|
|
|
|
| $ | 0.00 |
| |
Total Backup Servicing Fee Due |
|
|
|
|
|
|
| $ | 16,105.51 |
| |
|
|
|
|
|
|
|
|
|
| ||
CNH or SST? |
|
|
|
|
|
|
| CNH |
| ||
Current Servicing Fee Due |
|
|
|
|
|
|
| $ | 805,275.28 |
| |
Past Due Servicing Fee |
|
|
|
|
|
|
| $ | 0.00 |
| |
Total Servicing Fee Due |
|
|
|
|
|
|
| $ | 805,275.28 |
| |
|
|
|
|
|
|
|
|
|
| ||
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) |
|
|
|
|
|
|
| $ | 966,330,338.54 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 56,808,776.69 |
| |
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 |
|
|
|
|
|
|
| $ | 33,821,561.85 |
| |
Certificate Beginning Principal balance |
|
|
|
|
|
|
| $ | 23,000,000.00 |
| |
|
| Type |
| Coupon/ |
| Swap Adj. |
|
|
| ||
A-1 notes Current Interest Due |
| Fix |
| 1.23000 | % | 1.23000 | % | $ | 58,229.00 |
| |
A-2 notes Current Interest Due |
| Fix |
| 1.71000 | % | 1.71000 | % | $ | 370,500.00 |
| |
A-3a notes Current Interest Due |
| Flt |
| 0.14000 | % | 2.49500 | % | $ | 297,975.00 |
| |
A-3b notes Current Interest Due |
| Fix |
| 2.47000 | % | 2.47000 | % | $ | 287,137.50 |
| |
A-4a notes Current Interest Due |
| Flt |
| 0.23000 | % | 3.37500 | % | $ | 203,130.00 |
| |
A-4b notes Current Interest Due |
| Fix |
| 3.38000 | % | 3.38000 | % | $ | 322,508.33 |
| |
B notes Current Interest Due |
| Fix |
| 3.35000 | % | 3.35000 | % | $ | 94,418.53 |
| |
Certificate Current Interest Due |
| Fix |
| 3.35000 | % | 3.35000 | % | $ | 64,208.33 |
| |
|
|
|
|
|
|
|
|
|
|
| |
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 |
|
|
|
|
|
|
| $ | 58,229.00 |
| |
A-2 notes Total Interest Due |
|
|
|
|
|
|
| $ | 370,500.00 |
| |
A-3a notes Total Interest Due |
|
|
|
|
|
|
| $ | 297,975.00 |
| |
A-3b notes Total Interest Due |
|
|
|
|
|
|
| $ | 287,137.50 |
| |
A-4a notes Total Interest Due |
|
|
|
|
|
|
| $ | 203,130.00 |
| |
A-4b notes Total Interest Due |
|
|
|
|
|
|
| $ | 322,508.33 |
| |
B notes Total Interest Due |
|
|
|
|
|
|
| $ | 94,418.53 |
| |
Certificate Total Interest Due |
|
|
|
|
|
|
| $ | 64,208.33 |
| |
|
|
|
|
|
| 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 | % | $ | 129,293.75 |
| |
A-3b Net Swap Payment Due |
|
|
|
|
| 0.00000 | % | $ | 0.00 |
| |
A-4a Net Swap Payment Due |
|
|
|
|
| 3.14500 | % | $ | 171,495.00 |
| |
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 |
|
|
|
|
|
|
| $ | 129,293.75 |
| |
A-3b Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4a Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 171,495.00 |
| |
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 |
|
|
|
|
|
|
| $ | 54,033,096.64 |
| |
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 |
|
|
|
|
|
|
| $ | 12,262,241.54 |
| |
Class B notes Principal Due |
|
|
|
|
|
|
| $ | 1,959,749.62 |
| |
Reallocated Class B Principal |
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
| ||
Certificate Principal Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
| ||
Total notes Interest Due |
|
|
|
|
|
|
| $ | 1,633,898.36 |
| |
Total notes Principal Due |
|
|
|
|
|
|
| $ | 55,992,846.26 |
| |
Net Swap/Termination Payment Due |
|
|
|
|
|
|
| $ | 300,788.75 |
| |
Total notes Distributable Amount |
|
|
|
|
|
|
| $ | 57,927,533.37 |
| |
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 |
| 9/15/2004 |
|
|
| ||
|
|
|
|
|
| ||
Cash Available for Distribution |
|
|
|
|
| ||
Total Collections + Reinvestment Income For The Period |
| $ | 60,552,398.09 |
|
|
| |
|
|
|
|
|
| ||
Beginning Negitive Carry Account |
| $ | 0.00 |
|
|
| |
Deposits from Negitive Carry Account to Distribution Account |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Beginning Spread Account Balance |
| $ | 24,158,258.46 |
|
|
| |
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 |
| $ | 60,552,398.09 |
|
|
| |
|
|
|
|
|
| ||
|
|
|
| Available |
| ||
Cash Allocation (Cashflow Waterfall) |
|
|
|
|
| ||
Backup Servicing Fee Paid |
| $ | 16,105.51 |
|
|
| |
Backup Servicing Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| 60,536,292.58 |
| ||
Servicing Fee Paid |
| $ | 805,275.28 |
|
|
| |
Servicing Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 59,731,017.30 |
| |
Administration Fee Paid |
| $ | 166.67 |
|
|
| |
Administration Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 59,730,850.63 |
| |
Net Swap Payment Paid |
| $ | 300,788.75 |
|
|
| |
Net Swap Payment Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Remaining Cash Available to Pay Note Interest & Swap Termination Payment |
|
|
| $ | 59,430,061.88 |
| |
|
|
|
|
|
| ||
Cash Available to Pay Note Interest |
| $ | 59,430,061.88 |
|
|
| |
Cash Available to Pay Termination Payment |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Class A-1 notes Interest Paid |
| $ | 58,229.00 |
|
|
| |
Class A-2 notes Interest Paid |
| $ | 370,500.00 |
|
|
| |
Class A-3a notes Interest Paid |
| $ | 297,975.00 |
|
|
| |
Class A-3b notes Interest Paid |
| $ | 287,137.50 |
|
|
| |
Class A-4a notes Interest Paid |
| $ | 203,130.00 |
|
|
| |
Class A-4b notes Interest Paid |
| $ | 322,508.33 |
|
|
| |
|
|
|
| $ | 57,890,582.05 |
| |
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 |
|
|
| |
|
|
|
| $ | 57,890,582.05 |
| |
Class B notes Interest Paid |
| $ | 94,418.53 |
|
|
| |
Class B notes Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 57,796,163.52 |
| |
Class A-1 notes Principal Paid |
| $ | 54,033,096.64 |
|
|
| |
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 |
| $ | 1,959,749.62 |
|
|
| |
|
|
|
| $ | 1,803,317.26 |
| |
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 |
| $ | 1,803,317.26 |
|
Reallocated Class A-2 notes Principal Paid |
| $ | 0.00 |
|
|
| |
Remaining Class B Principal Reallocation Amount |
| $ | 0.00 |
| $ | 1,803,317.26 |
|
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 |
| $ | 1,803,317.26 |
|
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 |
| $ | 1,803,317.26 |
|
|
|
|
|
|
| ||
Deposits to Spread Account |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 1,803,317.26 |
| |
Certificate Interest Paid |
| $ | 64,208.33 |
|
|
| |
Certificate Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 1,739,108.93 |
| |
Certificate Principal Paid |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 1,739,108.93 |
| |
Total Principal Balance of Notes and Certificates (End of Period) |
| $ | 910,337,492.28 |
|
|
| |
A-1 notes Ending Principal balance |
| $ | 2,775,680.05 |
|
|
| |
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 |
| $ | 31,861,812.23 |
|
|
| |
Certificate Ending Principal balance |
| $ | 23,000,000.00 |
|
|
| |
|
|
|
|
|
| ||
Release to Seller as Excess |
| $ | 1,739,108.93 |
| $ | 1,739,108.93 |
|
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 |
|
|
|
|
| 9/15/2004 |
|
|
|
|
| |||
|
|
|
|
|
|
|
|
|
|
|
| |||
|
|
|
|
|
| Amount |
| Factor |
| Per/$1000 |
| |||
Summary and Factors |
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (Beginning of Period) |
|
|
|
|
| $ | 966,330,338.54 |
| 0.8402873 |
| $ | 840.29 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
| $ | 56,808,776.69 |
| 0.2427725 |
| $ | 242.77 |
| |
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 |
|
|
|
|
| $ | 33,821,561.85 |
| 0.8392447 |
| $ | 839.24 |
| |
Certificate Beginning Principal balance |
|
|
|
|
| $ | 23,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (End of Period) |
|
|
|
|
| $ | 910,337,492.28 |
| 0.7915978 |
| $ | 791.60 |
| |
A-1 notes Ending Principal balance |
|
|
| $ | 234,000,000.00 |
| $ | 2,775,680.05 |
| 0.0118619 |
| $ | 11.86 |
|
|
| Pro rata % |
|
|
|
|
|
|
|
|
| |||
A-2 notes Ending Principal balance |
|
|
| $ | 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 |
| $ | 31,861,812.23 |
| 0.7906157 |
| $ | 790.62 |
|
Certificate Ending Principal balance |
|
|
| $ | 23,000,000.00 |
| $ | 23,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A-1 notes Interest Paid |
|
|
|
|
| $ | 58,229.00 |
| 0.0002488 |
| $ | 0.25 |
| |
Class A-2 notes Interest Paid |
|
|
|
|
| $ | 370,500.00 |
| 0.0014250 |
| $ | 1.43 |
| |
Class A-3a notes Interest Paid |
|
|
|
|
| $ | 297,975.00 |
| 0.0014500 |
| $ | 1.45 |
| |
Class A-3b notes Interest Paid |
|
|
|
|
| $ | 287,137.50 |
| 0.0020583 |
| $ | 2.06 |
| |
Class A-4a notes Interest Paid |
|
|
|
|
| $ | 203,130.00 |
| 0.0015250 |
| $ | 1.53 |
| |
Class A-4b notes Interest Paid |
|
|
|
|
| $ | 322,508.33 |
| 0.0028167 |
| $ | 2.82 |
| |
Class B notes Interest Paid |
|
|
|
|
| $ | 94,418.53 |
| 0.0023429 |
| $ | 2.34 |
| |
Certificate Interest Paid |
|
|
|
|
| $ | 64,208.33 |
| 0.0027917 |
| $ | 2.79 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
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 |
|
|
|
|
| $ | 54,033,096.64 |
| 0.2309107 |
| $ | 230.91 |
| |
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 |
|
|
|
|
| $ | 1,959,749.62 |
| 0.0486290 |
| $ | 48.63 |
| |
Certificate Principal Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry Account |
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry |
| 0.75000 | % | 11/25/2003 |
| 1.7390 | % |
|
|
|
| |||
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 | % | $ | 22,758,437.30 |
|
|
|
|
| ||
Required Spread Account Floor |
|
|
| 2.00 | % | $ | 23,000,000.00 |
|
|
|
|
| ||
Required Spread Account |
|
|
|
|
| $ | 23,000,000.00 |
|
|
|
|
| ||
Beginning Spread Account Balance |
|
|
|
|
| $ | 24,158,258.46 |
|
|
|
|
| ||
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 |
|
|
|
|
| $ | 1,158,258.46 |
|
|
|
|
| ||
Ending Spread Account Balance |
|
|
|
|
| $ | 23,000,000.00 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
Principal Supplement Account |
|
|
|
|
|
|
|
|
|
|
| |||
Required Principal Supplement Account Balance |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Beginning Principal Supplement Account Balance |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Additional Deposit to Principal Supplement Account from Pre-funding |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Principal Supplement Account Withdrawls to Distribution Account |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Principal Supplement Account Released to Seller |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Ending Principal Supplement Account |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
Pre-funding Account |
|
|
|
|
|
|
|
|
|
|
| |||
Beginning Pre-funding Account Balance |
|
|
|
|
| $ | 0.25 |
|
|
|
|
| ||
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 |
|
|
|
|
| $ | 3,702,809.34 |
|
|
|
|
| ||
5
