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 Jeske 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 |
|
|
| 9 |
| 9 |
| 9 |
| 9 |
|
Cutoff Date |
| 12/31/2004 |
| ||||||
Date Added |
| 4/30/2003 |
| 5/31/2003 |
| 6/30/2003 |
| 7/31/2003 |
|
Pool |
| Pool 1 |
| Pool 2 |
| Pool 3 |
| Pool 4 |
|
Scheduled Cashflows |
| 4,510,447.45 |
| 805,499.06 |
| 1,116,801.20 |
| 221,313.64 |
|
|
| 10,808,778.29 |
| 1,605,115.66 |
| 2,278,121.40 |
| 509,914.82 |
|
|
| 12,340,453.31 |
| 1,756,095.83 |
| 2,446,314.31 |
| 431,569.60 |
|
|
| 16,809,942.95 |
| 1,725,774.47 |
| 2,630,141.76 |
| 446,659.85 |
|
|
| 13,117,852.58 |
| 6,130,386.30 |
| 2,711,125.87 |
| 495,508.06 |
|
|
| 5,169,271.58 |
| 7,884,512.82 |
| 8,046,351.06 |
| 517,970.38 |
|
|
| 5,447,296.21 |
| 1,635,831.16 |
| 10,076,243.64 |
| 1,982,433.17 |
|
|
| 5,339,028.68 |
| 1,630,404.85 |
| 2,467,984.48 |
| 1,879,807.18 |
|
|
| 5,269,677.04 |
| 1,643,922.07 |
| 2,504,505.38 |
| 453,681.24 |
|
|
| 5,653,441.27 |
| 1,635,073.61 |
| 2,454,581.86 |
| 550,689.07 |
|
|
| 5,447,082.64 |
| 1,912,723.08 |
| 2,457,396.61 |
| 458,559.30 |
|
|
| 5,370,844.95 |
| 1,969,234.34 |
| 2,857,826.43 |
| 418,651.87 |
|
|
| 10,002,450.64 |
| 2,024,476.80 |
| 3,529,344.35 |
| 590,826.02 |
|
|
| 10,962,216.29 |
| 1,811,268.73 |
| 2,485,145.96 |
| 548,823.08 |
|
|
| 11,288,866.18 |
| 1,653,638.86 |
| 2,308,536.59 |
| 404,465.84 |
|
|
| 15,310,729.73 |
| 1,586,369.80 |
| 2,422,782.67 |
| 412,269.48 |
|
|
| 11,373,571.27 |
| 5,946,980.40 |
| 2,493,430.62 |
| 434,859.33 |
|
|
| 3,539,523.55 |
| 7,479,596.03 |
| 7,692,368.71 |
| 468,956.54 |
|
|
| 3,798,104.53 |
| 1,025,392.61 |
| 9,343,853.70 |
| 2,027,692.69 |
|
|
| 3,639,327.89 |
| 1,010,225.77 |
| 1,480,316.41 |
| 1,696,670.00 |
|
|
| 3,633,569.55 |
| 1,002,098.27 |
| 1,558,545.06 |
| 294,959.86 |
|
|
| 3,862,680.43 |
| 1,024,609.29 |
| 1,486,520.91 |
| 393,021.04 |
|
|
| 3,687,772.48 |
| 1,247,859.71 |
| 1,520,578.69 |
| 293,912.37 |
|
|
| 3,661,587.44 |
| 1,260,870.31 |
| 1,763,208.22 |
| 273,325.73 |
|
|
| 7,317,369.65 |
| 1,362,309.86 |
| 2,393,786.84 |
| 411,168.71 |
|
|
| 8,125,874.66 |
| 1,172,520.85 |
| 1,552,409.48 |
| 394,921.22 |
|
|
| 8,713,713.42 |
| 1,028,002.54 |
| 1,425,409.60 |
| 264,983.32 |
|
|
| 11,666,271.64 |
| 1,009,626.92 |
| 1,448,573.47 |
| 265,008.49 |
|
|
| 8,464,274.23 |
| 4,226,779.17 |
| 1,559,016.17 |
| 292,416.52 |
|
|
| 2,426,651.11 |
| 5,203,762.67 |
| 5,087,867.99 |
| 300,393.65 |
|
|
| 2,606,828.25 |
| 767,492.87 |
| 6,259,265.54 |
| 1,348,324.91 |
|
|
| 2,487,852.70 |
| 735,420.95 |
| 1,065,187.05 |
| 1,078,435.42 |
|
|
| 2,462,491.13 |
| 733,716.33 |
| 1,101,254.39 |
| 221,137.81 |
|
|
| 2,726,741.65 |
| 773,502.67 |
| 1,074,259.66 |
| 260,477.32 |
|
|
| 2,659,045.10 |
| 948,134.00 |
| 1,158,129.44 |
| 406,114.70 |
|
|
| 2,863,690.53 |
| 1,093,173.67 |
| 1,315,158.24 |
| 198,852.00 |
|
|
| 6,354,348.66 |
| 1,097,206.19 |
| 1,913,000.49 |
| 377,832.71 |
|
|
| 6,237,134.62 |
| 924,563.36 |
| 1,118,573.65 |
| 308,465.12 |
|
|
| 6,738,206.03 |
| 797,506.88 |
| 995,494.59 |
| 175,601.46 |
|
|
| 9,032,348.30 |
| 762,709.15 |
| 1,021,917.30 |
| 193,543.11 |
|
|
| 5,774,143.24 |
| 3,617,583.68 |
| 1,119,926.71 |
| 253,348.13 |
|
|
| 323,744.12 |
| 4,398,921.97 |
| 4,408,580.69 |
| 250,710.17 |
|
|
| 197,284.67 |
| 111,914.30 |
| 5,210,800.84 |
| 1,215,683.54 |
|
|
| 257,195.84 |
| 107,554.85 |
| 186,484.95 |
| 1,009,948.39 |
|
|
| 221,786.09 |
| 53,092.04 |
| 110,933.64 |
| 8,305.69 |
|
|
| 354,583.27 |
| 62,279.51 |
| 93,737.94 |
| 67,186.02 |
|
|
| 263,638.98 |
| 84,241.24 |
| 96,727.86 |
| 16,225.09 |
|
|
| 322,417.85 |
| 144,636.05 |
| 111,820.42 |
| 12,477.45 |
|
|
| 495,330.38 |
| 80,337.41 |
| 195,305.26 |
| 18,491.69 |
|
|
| 617,731.17 |
| 155,404.88 |
| 102,470.81 |
| 23,690.84 |
|
|
| 684,421.53 |
| 76,046.45 |
| 117,586.37 |
| 6,121.52 |
|
|
| 978,904.50 |
| 67,319.67 |
| 56,021.81 |
| 6,121.52 |
|
|
| 467,592.47 |
| 598,969.93 |
| 78,594.22 |
| 23,484.05 |
|
|
| 1,375.24 |
| 261,515.81 |
| 508,090.91 |
| 6,121.52 |
|
|
| 1,102.90 |
| 668.95 |
| 165,237.47 |
| 197,906.82 |
|
|
| 1,102.90 |
| 1,114.36 |
| 325.83 |
| 85,037.85 |
|
|
| 1,102.90 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 1,102.90 |
| 0.00 |
| 5,262.25 |
| 0.00 |
|
|
| 1,102.90 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 1,102.90 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 1,102.90 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 1,102.90 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 1,102.90 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 1,080.14 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 1,057.46 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 1,057.46 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 1,057.46 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 1,057.46 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 998.59 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 996.46 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 524.99 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 463.52 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 463.52 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 463.52 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 463.52 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 463.52 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 463.52 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 463.52 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 10,355.88 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
|
|
|
|
|
|
|
|
|
Total Amount of Scheduled Cashflow |
| 281,918,864.60 |
| 89,865,989.01 |
| 123,189,237.77 |
| 25,905,076.92 |
|
Discount Rate |
| 5.400 | % | 5.400 | % | 5.400 | % | 5.400 | % |
Beginning Contract Value |
| 272,976,113.97 |
| 85,329,423.72 |
| 117,511,080.94 |
| 24,474,470.88 |
|
Scheduled Contract Value Decline |
| 12,414,495.42 |
| 2,290,250.83 |
| 3,839,958.67 |
| 675,342.37 |
|
Unscheduled Contract Value Decline |
| 149,168.11 |
| 417,596.19 |
| 420,020.31 |
| 111,146.37 |
|
Additional Contract Value Added |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
Ending Contract Value |
| 260,412,450.44 |
| 82,621,576.70 |
| 113,251,101.96 |
| 23,687,982.14 |
|
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) |
| 12/15/2004 |
|
|
| |
Dated Date (act/360) |
| 12/15/2004 |
|
|
| |
Scheduled Payment Date |
| 1/15/2005 |
|
|
| |
Actual Payment Date |
| 1/18/2005 |
|
|
| |
Days in accrual period (30/360) |
| 30 |
|
|
| |
Days in accrual period (act/360) |
| 34 |
|
|
| |
1 month LIBOR Rate |
| 2.40250 | % |
|
| |
|
|
|
|
|
| |
Collateral Summary |
|
|
|
|
| |
Wtd. Average Discount Rate |
| 5.400 | % |
|
| |
Beginning Contract Value |
| 500,291,089.51 |
|
|
| |
Scheduled Contract Value Decline |
| 19,220,047.28 |
|
|
| |
Unscheduled Contract Value Decline |
| 1,097,930.99 |
|
|
| |
Additional Contract Value Purchased |
| 0.00 |
|
|
| |
Ending Contract Value |
| 479,973,111.24 |
|
|
| |
|
|
|
|
|
| |
Beginning Pre-funding Account Balance |
| 0.00 |
|
|
| |
Ending Pre-funding Account Balance |
| 0.00 |
|
|
| |
|
|
|
|
|
| |
Total Beginning Balance (Pool Balance + Pre-funding Account Balance) |
| 500,291,089.51 |
|
|
| |
Total Ending Balance (Pool Balance + Pre-funding Account Balance) |
| 479,973,111.24 |
|
|
| |
|
|
|
|
|
| |
Collateral Performance |
|
|
|
|
| |
Scheduled Amounts 30 - 59 days past due |
| $ | 387,902.47 |
| 0.08 | % |
Scheduled Amounts 60 days or more past due |
| $ | 1,262,165.62 |
| 0.26 | % |
Net Losses on Liquidated Receivables |
| $ | 350,377.72 |
| 0.07 | % |
Cumulative Net Losses |
| $ | 2,979,458.18 |
|
|
|
Number of Loans at Beginning of Period |
| 32,689 |
|
|
| |
Number of Loans at End of Period |
| 31,981 |
|
|
| |
Repossessed Equipment not Sold or Reassigned (Beginning) |
| $ | 632,367.09 |
|
|
|
Repossessed Equipment not Sold or Reassigned (End) |
| $ | 616,035.38 |
|
|
|
|
|
|
|
|
| |
Collections and Reinvestment Income |
|
|
|
|
| |
Receipts During the period |
| $ | 22,277,558.19 |
|
|
|
|
|
|
|
|
| |
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 |
| $ | 22,277,558.19 |
|
|
|
|
|
|
|
|
| |
Reinvestment Income (excluding Pre-funding Account) |
| $ | 62,981.34 |
|
|
|
Reinvestment Income on Pre-funding Account) |
| $ | 0.00 |
|
|
|
|
|
|
|
|
| |
Net Swap Receipts |
| 167,481.49 |
|
|
| |
Net Swap Termination Payments due Trust from the Swap CounterParty |
| $ | 0.00 |
|
|
|
|
|
|
|
|
| |
Total Collections + Reinvestment Income For The Period + Swap Receipt |
| $ | 22,508,021.02 |
|
|
|
|
|
|
|
|
| |
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 |
| 1/18/2005 |
Caclulation of Distributable Amounts |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| ||
Current Servicing Fee Due |
|
|
|
|
| 1.000 | % | $ | 416,909.24 |
| |
Past Due Servicing Fee |
|
|
|
|
|
|
| $ | 0.00 |
| |
Total Servicing Fee Due |
|
|
|
|
|
|
| $ | 416,909.24 |
| |
|
|
|
|
|
|
|
|
|
| ||
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) |
|
|
|
|
|
|
| $ | 500,291,089.51 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-3a notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 147,402,109.94 |
| |
A-3b notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 106,129,519.16 |
| |
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 |
|
|
|
|
|
|
| $ | 16,259,460.41 |
| |
Certificate Beginning Principal balance |
|
|
|
|
|
|
| $ | 27,500,000.00 |
| |
|
| Type |
| Coupon/ |
| Swap Adj. |
|
|
| |
A-1 notes Current Interest Due |
| Fix |
| 1.26250 | % | 1.26250 | % | $ | 0.00 |
|
A-2 notes Current Interest Due |
| Fix |
| 1.46000 | % | 1.46000 | % | $ | 0.00 |
|
A-3a notes Current Interest Due |
| Flt |
| 0.18000 | % | 1.86300 | % | $ | 359,517.84 |
|
A-3b notes Current Interest Due |
| Fix |
| 1.89000 | % | 1.89000 | % | $ | 167,153.99 |
|
A-4a notes Current Interest Due |
| Flt |
| 0.28000 | % | 2.55700 | % | $ | 271,081.53 |
|
A-4b notes Current Interest Due |
| Fix |
| 2.57000 | % | 2.57000 | % | $ | 205,600.00 |
|
B notes Current Interest Due |
| Fix |
| 3.13000 | % | 3.13000 | % | $ | 42,410.09 |
|
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 |
|
|
|
|
|
|
| $ | 0.00 |
|
A-3a notes Total Interest Due |
|
|
|
|
|
|
| $ | 359,517.84 |
|
A-3b notes Total Interest Due |
|
|
|
|
|
|
| $ | 167,153.99 |
|
A-4a notes Total Interest Due |
|
|
|
|
|
|
| $ | 271,081.53 |
|
A-4b notes Total Interest Due |
|
|
|
|
|
|
| $ | 205,600.00 |
|
B notes Total Interest Due |
|
|
|
|
|
|
| $ | 42,410.09 |
|
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 | % | $ | 0.00 |
|
A-3b Net Swap Payment Due |
|
|
|
|
| 0.00000 | % | $ | 0.00 |
|
A-4a Net Swap Payment Due |
|
|
|
|
| 2.27700 | % | $ | 0.00 |
|
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 |
|
|
|
|
|
|
| $ | 0.00 |
|
A-3b Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 0.00 |
|
A-4a Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 0.00 |
|
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 |
|
3
A-1 Net Swap Receipt |
|
|
|
|
|
|
| $ | 0.00 |
|
A-2 Net Swap Receipt |
|
|
|
|
|
|
| $ | 0.00 |
|
A-3a Net Swap Receipt |
|
|
|
|
|
|
| $ | 127,728.02 |
|
A-3b Net Swap Receipt |
|
|
|
|
|
|
| $ | 0.00 |
|
A-4a Net Swap Receipt |
|
|
|
|
|
|
| $ | 39,753.47 |
|
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 |
|
|
|
|
|
|
| $ | 0.00 |
|
A-3a notes Principal Due |
|
|
|
|
|
|
| $ | 11,428,862.78 |
|
A-3b notes Principal Due |
|
|
|
|
|
|
| $ | 8,228,781.20 |
|
A-4a notes Principal Due |
|
|
|
|
|
|
| $ | 0.00 |
|
A-4b notes Principal Due |
|
|
|
|
|
|
| $ | 0.00 |
|
Class B notes Principal Due |
|
|
|
|
|
|
| $ | 660,334.29 |
|
Certificate Principal Due |
|
|
|
|
|
|
| $ | 0.00 |
|
|
|
|
|
|
|
|
|
|
| |
Total notes Interest Due |
|
|
|
|
|
|
| $ | 1,045,763.45 |
|
Total notes Principal Due |
|
|
|
|
|
|
| $ | 20,317,978.27 |
|
Net Swap/Termination Payment Due |
|
|
|
|
|
|
| $ | -167,481.49 |
|
Total notes Distributable Amount |
|
|
|
|
|
|
| $ | 21,196,260.23 |
|
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 |
| 1/18/2005 |
|
|
|
Cash Available for Distribution |
|
|
|
|
| |
Total Collections + Reinvestment Income For The Period + Net SWAP receipts |
| $ | 22,508,021.02 |
|
|
|
|
|
|
|
|
| |
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 |
| $ | 22,508,021.02 |
|
|
|
|
|
|
| Available |
| ||
Cash Allocation (Cashflow Waterfall) |
|
|
|
|
| ||
Servicing Fee Paid |
| $ | 416,909.24 |
|
|
| |
Servicing Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 22,091,111.78 |
| |
Administration Fee Paid |
| $ | 166.67 |
|
|
| |
Administration Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 22,090,945.11 |
| |
Swap Payment Paid |
| $ | 0.00 |
|
|
| |
Swap Payment Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Remaining Cash Available to Pay Note Interest & Swap Termination Payment |
|
|
| $ | 22,090,945.11 |
| |
|
|
|
|
|
| ||
Cash Available to Pay Note Interest |
| $ | 22,090,945.11 |
|
|
| |
Cash Available to Pay Termination Payment |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Class A-1 notes Interest Paid |
| $ | 0.00 |
|
|
| |
Class A-2 notes Interest Paid |
| $ | 0.00 |
|
|
| |
Class A-3a notes Interest Paid |
| $ | 359,517.84 |
|
|
| |
Class A-3b notes Interest Paid |
| $ | 167,153.99 |
|
|
| |
Class A-4a notes Interest Paid |
| $ | 271,081.53 |
|
|
| |
Class A-4b notes Interest Paid |
| $ | 205,600.00 |
|
|
| |
|
|
|
| $ | 21,087,591.75 |
| |
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 |
|
|
| |
|
|
|
| $ | 21,087,591.75 |
| |
Class B notes Interest Paid |
| $ | 42,410.09 |
|
|
| |
Class B notes Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 21,045,181.66 |
| |
Class A-1 notes Principal Paid |
| $ | 0.00 |
|
|
| |
Class A-2 notes Principal Paid |
| $ | 0.00 |
|
|
| |
Class A-3a notes Principal Paid |
| $ | 11,428,862.78 |
|
|
| |
Class A-3b notes Principal Paid |
| $ | 8,228,781.20 |
|
|
| |
Class A-4a notes Principal Paid |
| $ | 0.00 |
|
|
| |
Class A-4b notes Principal Paid |
| $ | 0.00 |
|
|
| |
Class B notes Principal Paid |
| $ | 660,334.29 |
|
|
| |
|
|
|
| $ | 727,203.39 |
| |
Deposits to Spread Account |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 727,203.39 |
| |
Certificate Interest Paid |
| $ | 71,729.17 |
|
|
| |
Certificate Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 655,474.22 |
| |
Certificate Principal Paid |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 655,474.22 |
| |
Total Principal Balance of Notes and Certificates (End of Period) |
| $ | 479,973,111.24 |
|
|
| |
A-1 notes Ending Principal balance |
| $ | 0.00 |
|
|
| |
A-2 notes Ending Principal balance |
| $ | 0.00 |
|
|
| |
A-3a notes Ending Principal balance |
| $ | 135,973,247.16 |
|
|
| |
A-3b notes Ending Principal balance |
| $ | 97,900,737.96 |
|
|
| |
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 |
| $ | 15,599,126.12 |
|
|
| |
Certificate Ending Principal balance |
| $ | 27,500,000.00 |
|
|
| |
|
|
|
|
|
| ||
Release to Seller as Excess |
| $ | 655,474.22 |
| $ | 655,474.22 |
|
5
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 |
|
|
|
|
| 1/18/2005 |
|
|
|
|
|
|
|
|
|
| Amount |
| Factor |
| Per/$1000 |
| |||
Summary and Factors |
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (Beginning of Period) |
|
|
|
|
| $ | 500,291,089.51 |
| 0.5002911 |
| $ | 500.29 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
A-2 notes Beginning Principal balance |
|
|
|
|
| $ | (0.00 | ) | (0.0000000 | ) | $ | (0.00 | ) | |
A-3a notes Beginning Principal balance |
|
|
|
|
| $ | 147,402,109.94 |
| 0.9826807 |
| $ | 982.68 |
| |
A-3b notes Beginning Principal balance |
|
|
|
|
| $ | 106,129,519.16 |
| 0.9826807 |
| $ | 982.68 |
| |
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 |
|
|
|
|
| $ | 16,259,460.41 |
| 0.5002911 |
| $ | 500.29 |
| |
Certificate Beginning Principal balance |
|
|
|
|
| $ | 27,500,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (End of Period) |
|
|
|
|
| $ | 479,973,111.24 |
| 0.4799731 |
| $ | 479.97 |
| |
A-1 notes Ending Principal balance |
|
|
| $ | 228,000,000.00 |
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
|
A-2 notes Ending Principal balance |
| Pro rata % |
| $ | 251,000,000.00 |
| $ | (0.00 | ) | (0.0000000 | ) | $ | (0.00 | ) |
A-3a notes Ending Principal balance |
| 58.14 | % | $ | 150,000,000.00 |
| $ | 135,973,247.16 |
| 0.9064883 |
| $ | 906.49 |
|
A-3b notes Ending Principal balance |
| 41.86 | % | $ | 108,000,000.00 |
| $ | 97,900,737.96 |
| 0.9064883 |
| $ | 906.49 |
|
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 |
| $ | 15,599,126.12 |
| 0.4799731 |
| $ | 479.97 |
|
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 |
|
|
|
|
| $ | (0.00 | ) | (0.0000000 | ) | $ | (0.00 | ) | |
Class A-3a notes Interest Paid |
|
|
|
|
| $ | 359,517.84 |
| 0.0023968 |
| $ | 2.40 |
| |
Class A-3b notes Interest Paid |
|
|
|
|
| $ | 167,153.99 |
| 0.0015477 |
| $ | 1.55 |
| |
Class A-4a notes Interest Paid |
|
|
|
|
| $ | 271,081.53 |
| 0.0025335 |
| $ | 2.53 |
| |
Class A-4b notes Interest Paid |
|
|
|
|
| $ | 205,600.00 |
| 0.0021417 |
| $ | 2.14 |
| |
Class B notes Interest Paid |
|
|
|
|
| $ | 42,410.09 |
| 0.0013049 |
| $ | 1.30 |
| |
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 |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A-3a notes Principal Paid |
|
|
|
|
| $ | 11,428,862.78 |
| 0.0761924 |
| $ | 76.19 |
| |
Class A-3b notes Principal Paid |
|
|
|
|
| $ | 8,228,781.20 |
| 0.0761924 |
| $ | 76.19 |
| |
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 |
|
|
|
|
| $ | 660,334.29 |
| 0.0203180 |
| $ | 20.32 |
| |
Certificate Principal Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry Account |
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry |
| 0.75000 | % | 5/22/2003 |
| 1.3920 | % |
|
|
|
| |||
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 | % | $ | 11,999,327.78 |
|
|
|
|
| ||
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 |
|
|
|
|
| $ | 401,205.90 |
|
|
|
|
| ||
Monthly Backup Servicing Fee (2bps/12*beginning balance or $4000 floor) |
|
|
|
|
| $ | 8,338.18 |
|
|
|
|
| ||
Accrued Backup Servicing Fee |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Total Backup Servicing Fee Due |
|
|
|
|
| $ | 8,338.18 |
|
|
|
|
| ||
Backup Servicing Fee Paid |
|
|
|
|
| $ | 8,338.18 |
|
|
|
|
| ||
Backup Servicer Investment Earnings |
|
|
|
|
| $ | 692.46 |
|
|
|
|
| ||
Ending Backup Servicing Account Balance |
|
|
|
|
| $ | 393,560.17 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Release to Seller |
|
|
|
|
| $ | 1,072,550.13 |
|
|
|
|
| ||
6
