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 |
|
|
| 0 |
| 0 |
| 0 |
| 0 |
|
Cutoff Date |
| 9/30/2004 |
| ||||||
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 |
| 7,369,825.21 |
| 469,055.04 |
| 540,233.26 |
| 685,507.97 |
|
|
| 17,602,545.87 |
| 6,819,965.59 |
| 2,465,395.41 |
| 1,984,267.82 |
|
|
| 11,305,719.02 |
| 7,123,672.08 |
| 9,322,628.56 |
| 2,878,834.23 |
|
|
| 11,104,708.64 |
| 1,785,815.17 |
| 12,150,660.74 |
| 15,508,786.34 |
|
|
| 9,584,723.23 |
| 1,575,294.74 |
| 2,409,670.94 |
| 9,740,788.53 |
|
|
| 8,326,797.96 |
| 1,283,048.80 |
| 1,926,702.54 |
| 1,978,866.05 |
|
|
| 8,578,498.68 |
| 1,351,462.11 |
| 2,142,770.13 |
| 2,327,063.49 |
|
|
| 8,768,823.62 |
| 1,625,816.13 |
| 1,997,494.77 |
| 2,257,034.17 |
|
|
| 7,973,983.93 |
| 1,434,565.97 |
| 2,301,319.89 |
| 1,999,237.81 |
|
|
| 12,609,197.72 |
| 1,226,304.73 |
| 2,216,802.45 |
| 2,403,807.95 |
|
|
| 16,397,054.68 |
| 1,232,061.75 |
| 1,923,542.10 |
| 2,258,999.87 |
|
|
| 18,902,564.94 |
| 1,257,721.34 |
| 1,920,724.68 |
| 2,180,848.39 |
|
|
| 24,818,820.31 |
| 1,858,146.13 |
| 2,404,129.04 |
| 2,401,628.11 |
|
|
| 18,020,075.56 |
| 6,872,580.96 |
| 2,617,712.58 |
| 2,095,611.26 |
|
|
| 9,489,154.01 |
| 6,915,838.90 |
| 9,039,980.52 |
| 2,779,160.68 |
|
|
| 9,750,513.69 |
| 1,671,228.39 |
| 11,716,890.54 |
| 14,790,701.14 |
|
|
| 8,480,861.18 |
| 1,427,677.77 |
| 2,150,558.72 |
| 9,374,858.18 |
|
|
| 7,246,019.64 |
| 1,134,550.71 |
| 1,657,370.25 |
| 1,678,584.00 |
|
|
| 7,548,924.72 |
| 1,196,493.11 |
| 1,860,540.23 |
| 2,009,958.09 |
|
|
| 7,638,043.91 |
| 1,440,565.37 |
| 1,678,827.92 |
| 1,881,063.36 |
|
|
| 6,897,341.23 |
| 1,225,654.73 |
| 1,934,804.43 |
| 1,596,596.46 |
|
|
| 11,261,504.76 |
| 1,023,152.72 |
| 1,834,600.45 |
| 1,868,754.14 |
|
|
| 14,611,467.79 |
| 1,026,316.68 |
| 1,552,515.51 |
| 1,790,128.92 |
|
|
| 16,646,584.92 |
| 1,045,210.78 |
| 1,519,061.41 |
| 1,722,296.11 |
|
|
| 22,151,337.12 |
| 1,626,157.73 |
| 2,008,584.25 |
| 1,858,990.96 |
|
|
| 15,472,901.51 |
| 6,617,754.66 |
| 2,233,813.92 |
| 1,655,356.01 |
|
|
| 6,836,257.51 |
| 6,535,365.38 |
| 8,453,818.17 |
| 2,285,820.51 |
|
|
| 6,936,910.69 |
| 1,357,221.17 |
| 11,009,149.90 |
| 13,880,423.61 |
|
|
| 5,927,310.23 |
| 1,066,758.44 |
| 1,652,028.79 |
| 8,921,655.86 |
|
|
| 4,752,299.79 |
| 830,167.03 |
| 1,178,784.67 |
| 1,251,040.66 |
|
|
| 4,985,535.63 |
| 889,564.48 |
| 1,349,996.84 |
| 1,493,083.15 |
|
|
| 5,233,640.11 |
| 1,115,995.95 |
| 1,177,077.57 |
| 1,393,505.23 |
|
|
| 4,459,425.25 |
| 925,142.67 |
| 1,354,461.41 |
| 1,130,838.92 |
|
|
| 7,344,598.37 |
| 739,509.16 |
| 1,269,783.97 |
| 1,354,222.40 |
|
|
| 10,133,374.21 |
| 729,703.40 |
| 1,078,751.59 |
| 1,303,679.85 |
|
|
| 12,182,008.21 |
| 757,303.89 |
| 1,018,576.92 |
| 1,257,841.58 |
|
|
| 16,870,958.87 |
| 1,323,338.06 |
| 1,516,986.05 |
| 1,363,861.44 |
|
|
| 11,563,242.49 |
| 5,423,327.42 |
| 1,665,001.28 |
| 1,274,321.81 |
|
|
| 5,150,423.42 |
| 5,452,047.42 |
| 6,531,258.69 |
| 1,723,519.20 |
|
|
| 5,192,725.15 |
| 1,075,524.99 |
| 8,778,889.87 |
| 10,821,752.06 |
|
|
| 4,400,903.14 |
| 802,986.96 |
| 1,252,007.79 |
| 7,233,629.75 |
|
|
| 3,311,678.00 |
| 562,499.79 |
| 812,297.11 |
| 861,439.61 |
|
|
| 3,382,427.46 |
| 682,861.29 |
| 994,217.13 |
| 1,104,695.13 |
|
|
| 3,616,900.55 |
| 865,063.21 |
| 795,727.31 |
| 961,498.37 |
|
|
| 3,069,327.07 |
| 658,850.79 |
| 948,926.10 |
| 730,170.28 |
|
|
| 5,820,054.36 |
| 482,073.64 |
| 843,693.40 |
| 877,495.30 |
|
|
| 9,075,529.10 |
| 496,273.90 |
| 698,423.19 |
| 891,067.04 |
|
|
| 10,207,885.91 |
| 511,169.21 |
| 769,046.62 |
| 833,657.77 |
|
|
| 14,036,129.07 |
| 1,059,870.03 |
| 1,052,279.04 |
| 965,422.58 |
|
|
| 8,326,669.87 |
| 5,012,104.01 |
| 1,403,223.89 |
| 863,480.80 |
|
|
| 1,305,565.27 |
| 5,292,719.86 |
| 5,758,188.32 |
| 1,556,736.19 |
|
|
| 927,858.46 |
| 140,492.33 |
| 8,528,406.99 |
| 12,426,920.29 |
|
|
| 577,874.05 |
| 163,017.80 |
| 374,011.81 |
| 6,238,700.11 |
|
|
| 461,051.82 |
| 46,951.17 |
| 138,595.81 |
| 152,858.79 |
|
|
| 356,943.46 |
| 73,745.64 |
| 123,485.86 |
| 129,699.55 |
|
|
| 592,973.83 |
| 106,233.96 |
| 50,075.98 |
| 52,576.81 |
|
|
| 309,013.86 |
| 72,936.67 |
| 70,958.60 |
| 54,504.32 |
|
|
| 596,174.66 |
| 75,706.85 |
| 82,123.16 |
| 130,244.87 |
|
|
| 859,144.35 |
| 52,826.24 |
| 66,754.77 |
| 128,846.21 |
|
|
| 1,059,378.74 |
| 65,304.87 |
| 140,521.17 |
| 130,065.04 |
|
|
| 1,683,372.43 |
| 157,753.48 |
| 50,935.28 |
| 92,060.05 |
|
|
| 1,022,413.35 |
| 771,035.65 |
| 183,134.38 |
| 92,470.29 |
|
|
| 41,041.68 |
| 697,432.80 |
| 736,940.74 |
| 123,373.09 |
|
|
| 7,780.98 |
| 0.00 |
| 1,161,480.83 |
| 1,532,355.13 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 915,002.66 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 828.73 |
|
|
| 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 |
| 501,174,795.25 |
| 109,336,991.70 |
| 160,597,356.24 |
| 182,243,095.08 |
|
Discount Rate |
| 5.750 | % | 5.750 | % | 5.750 | % | 5.750 | % |
Beginning Contract Value |
| 490,947,279.73 |
| 101,190,688.23 |
| 150,756,370.06 |
| 167,443,154.01 |
|
Scheduled Contract Value Decline |
| 29,427,248.54 |
| 1,480,638.66 |
| 2,084,267.05 |
| 2,218,749.69 |
|
Unscheduled Contract Value Decline |
| 10,321,381.99 |
| 1,731,280.62 |
| 4,844,278.54 |
| 2,718,169.48 |
|
Additional Contract Value Added |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
Ending Contract Value |
| 451,198,649.19 |
| 97,978,768.95 |
| 143,827,824.47 |
| 162,506,234.84 |
|
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) |
| 9/15/2004 |
|
|
| |
Dated Date (act/360) |
| 9/15/2004 |
|
|
| |
Scheduled Payment Date |
| 10/15/2004 |
|
|
| |
Actual Payment Date |
| 10/15/2004 |
|
|
| |
Days in accrual period (30/360) |
| 30 |
|
|
| |
Days in accrual period (act/360) |
| 30 |
|
|
| |
1 month LIBOR Rate |
| 1.76000 | % |
|
| |
|
|
|
|
|
| |
Collateral Summary |
|
|
|
|
| |
Wtd. Average Discount Rate |
| 5.750 | % |
|
| |
Beginning Contract Value |
| 910,337,492.03 |
|
|
| |
Scheduled Contract Value Decline |
| 35,210,903.95 |
|
|
| |
Unscheduled Contract Value Decline |
| 19,615,110.63 |
|
|
| |
Additional Contract Value Purchased |
| 0.00 |
|
|
| |
Ending Contract Value |
| 855,511,477.45 |
|
|
| |
|
|
|
|
|
| |
Beginning Pre-funding Account Balance |
| 0.25 |
|
|
| |
Ending Pre-funding Account Balance |
| 0.25 |
|
|
| |
|
|
|
|
|
| |
Total Beginning Balance (Pool Balance + Pre-funding Account Balance) |
| 910,337,492.28 |
|
|
| |
Total Ending Balance (Pool Balance + Pre-funding Account Balance) |
| 855,511,477.70 |
|
|
| |
|
|
|
|
|
| |
Collateral Performance |
|
|
|
|
| |
Scheduled Amounts 30 - 59 days past due |
| $ | 851,054.11 |
| 0.10 | % |
Scheduled Amounts 60 days or more past due |
| $ | 523,799.82 |
| 0.06 | % |
Net Losses on Liquidated Receivables |
| $ | 137,116.99 |
| 0.02 | % |
Cumulative Net Losses |
| $ | 979,038.09 |
|
|
|
Number of Loans at Beginning of Period |
| 38,984 |
|
|
| |
Number of Loans at End of Period |
| 37,988 |
|
|
| |
Repossessed Equipment not Sold or Reassigned (Beginning) |
| $ | 677,685.73 |
|
|
|
Repossessed Equipment not Sold or Reassigned (End) |
| $ | 714,482.75 |
|
|
|
|
|
|
|
|
| |
Collections and Reinvestment Income |
|
|
|
|
| |
Receipts During the period |
| $ | 59,547,377.09 |
|
|
|
|
|
|
|
|
| |
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 |
| $ | 59,547,377.09 |
|
|
|
|
|
|
|
|
| |
Reinvestment Income (excluding Pre-funding Account) |
| $ | 91,936.83 |
|
|
|
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 |
| $ | 59,639,313.92 |
|
|
|
|
|
|
|
|
| |
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 |
|
|
|
|
|
|
| 10/15/2004 |
|
Caclulation of Distributable Amounts |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| ||
Backup Servicer Engaged? |
|
|
|
|
|
|
| YES |
| ||
Current Backup Servicing Fee Due |
|
|
|
|
|
|
| $ | 15,172.29 |
| |
Past Due Backup Servicing Fee |
|
|
|
|
|
|
| $ | 0.00 |
| |
Total Backup Servicing Fee Due |
|
|
|
|
|
|
| $ | 15,172.29 |
| |
|
|
|
|
|
|
|
|
|
| ||
CNH or SST? |
|
|
|
|
|
|
| CNH |
| ||
Current Servicing Fee Due |
|
|
|
|
|
|
| $ | 758,614.58 |
| |
Past Due Servicing Fee |
|
|
|
|
|
|
| $ | 0.00 |
| |
Total Servicing Fee Due |
|
|
|
|
|
|
| $ | 758,614.58 |
| |
|
|
|
|
|
|
|
|
|
| ||
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) |
|
|
|
|
|
|
| $ | 910,337,492.28 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 2,775,680.05 |
| |
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 |
|
|
|
|
|
|
| $ | 31,861,812.23 |
| |
Certificate Beginning Principal balance |
|
|
|
|
|
|
| $ | 23,000,000.00 |
| |
|
| Type |
| Coupon/ |
| Swap Adj. |
|
|
| ||
A-1 notes Current Interest Due |
| Fix |
| 1.23000 | % | 1.23000 | % | $ | 2,845.07 |
| |
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 | % | $ | 325,375.00 |
| |
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 | % | $ | 220,890.00 |
| |
A-4b notes Current Interest Due |
| Fix |
| 3.38000 | % | 3.38000 | % | $ | 322,508.33 |
| |
B notes Current Interest Due |
| Fix |
| 3.35000 | % | 3.35000 | % | $ | 88,947.56 |
| |
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 |
|
|
|
|
|
|
| $ | 2,845.07 |
| |
A-2 notes Total Interest Due |
|
|
|
|
|
|
| $ | 370,500.00 |
| |
A-3a notes Total Interest Due |
|
|
|
|
|
|
| $ | 325,375.00 |
| |
A-3b notes Total Interest Due |
|
|
|
|
|
|
| $ | 287,137.50 |
| |
A-4a notes Total Interest Due |
|
|
|
|
|
|
| $ | 220,890.00 |
| |
A-4b notes Total Interest Due |
|
|
|
|
|
|
| $ | 322,508.33 |
| |
B notes Total Interest Due |
|
|
|
|
|
|
| $ | 88,947.56 |
| |
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 | % | $ | 101,893.75 |
| |
A-3b Net Swap Payment Due |
|
|
|
|
| 0.00000 | % | $ | 0.00 |
| |
A-4a Net Swap Payment Due |
|
|
|
|
| 3.14500 | % | $ | 153,735.00 |
| |
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 |
|
|
|
|
|
|
| $ | 101,893.75 |
| |
A-3b Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4a Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 153,735.00 |
| |
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 |
|
|
|
|
|
|
| $ | 2,775,680.05 |
| |
A-2 notes Principal Due |
|
|
|
|
|
|
| $ | 50,131,424.02 |
| |
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 |
|
|
|
|
|
|
| $ | 13,420,500.00 |
| |
Class B notes Principal Due |
|
|
|
|
|
|
| $ | 1,918,910.51 |
| |
Reallocated Class B Principal |
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
| ||
Certificate Principal Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
| ||
Total notes Interest Due |
|
|
|
|
|
|
| $ | 1,618,203.46 |
| |
Total notes Principal Due |
|
|
|
|
|
|
| $ | 54,826,014.58 |
| |
Net Swap/Termination Payment Due |
|
|
|
|
|
|
| $ | 255,628.75 |
| |
Total notes Distributable Amount |
|
|
|
|
|
|
| $ | 56,699,846.79 |
| |
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 |
| 10/15/2004 |
|
|
|
Cash Available for Distribution |
|
|
|
|
| ||
Total Collections + Reinvestment Income For The Period |
| $ | 59,639,313.92 |
|
|
| |
|
|
|
|
|
| ||
Beginning Negitive Carry Account |
| $ | 0.00 |
|
|
| |
Deposits from Negitive Carry Account to Distribution Account |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Beginning Spread Account Balance |
| $ | 23,000,000.00 |
|
|
| |
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 |
| $ | 59,639,313.92 |
|
|
| |
|
|
|
|
|
| ||
|
|
|
| Available |
| ||
Cash Allocation (Cashflow Waterfall) |
|
|
|
|
| ||
Backup Servicing Fee Paid |
| $ | 15,172.29 |
|
|
| |
Backup Servicing Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| 59,624,141.63 |
| ||
Servicing Fee Paid |
| $ | 758,614.58 |
|
|
| |
Servicing Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 58,865,527.05 |
| |
Administration Fee Paid |
| $ | 166.67 |
|
|
| |
Administration Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 58,865,360.38 |
| |
Net Swap Payment Paid |
| $ | 255,628.75 |
|
|
| |
Net Swap Payment Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Remaining Cash Available to Pay Note Interest & Swap Termination Payment |
|
|
| $ | 58,609,731.63 |
| |
|
|
|
|
|
| ||
Cash Available to Pay Note Interest |
| $ | 58,609,731.63 |
|
|
| |
Cash Available to Pay Termination Payment |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Class A-1 notes Interest Paid |
| $ | 2,845.07 |
|
|
| |
Class A-2 notes Interest Paid |
| $ | 370,500.00 |
|
|
| |
Class A-3a notes Interest Paid |
| $ | 325,375.00 |
|
|
| |
Class A-3b notes Interest Paid |
| $ | 287,137.50 |
|
|
| |
Class A-4a notes Interest Paid |
| $ | 220,890.00 |
|
|
| |
Class A-4b notes Interest Paid |
| $ | 322,508.33 |
|
|
| |
|
|
|
| $ | 57,080,475.72 |
| |
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 |
|
|
| |
|
|
|
| $ | 57,080,475.72 |
| |
Class B notes Interest Paid |
| $ | 88,947.56 |
|
|
| |
Class B notes Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 56,991,528.17 |
| |
Class A-1 notes Principal Paid |
| $ | 2,775,680.05 |
|
|
| |
Class A-2 notes Principal Paid |
| $ | 50,131,424.02 |
|
|
| |
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 |
| $ | 1,918,910.51 |
|
|
| |
|
|
|
| $ | 2,165,513.59 |
| |
Remaining Class B Principal Reallocation Amount |
| $ | 0.00 |
|
|
| |
Reallocated Class A-1 notes Principal Paid |
| $ | 0.00 |
|
|
| |
Remaining Class B Principal Reallocation Amount |
| $ | 0.00 |
| $ | 2,165,513.59 |
|
Reallocated Class A-2 notes Principal Paid |
| $ | 0.00 |
|
|
| |
Remaining Class B Principal Reallocation Amount |
| $ | 0.00 |
| $ | 2,165,513.59 |
|
Reallocated Class A-3a notes Principal Paid |
| $ | 0.00 |
|
|
| |
Reallocated Class A-3b notes Principal Paid |
| $ | 0.00 |
|
|
| |
Remaining Class B Principal Reallocation Amount |
| $ | 0.00 |
| $ | 2,165,513.59 |
|
Reallocated Class A-4a notes Principal Paid |
| $ | 0.00 |
|
|
| |
Reallocated Class A-4b notes Principal Paid |
| $ | 0.00 |
|
|
| |
Remaining Class B Principal Reallocation Amount |
| $ | 0.00 |
| $ | 2,165,513.59 |
|
|
|
|
|
|
| ||
Deposits to Spread Account |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 2,165,513.59 |
| |
Certificate Interest Paid |
| $ | 64,208.33 |
|
|
| |
Certificate Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 2,101,305.25 |
| |
Certificate Principal Paid |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 2,101,305.25 |
| |
Total Principal Balance of Notes and Certificates (End of Period) |
| $ | 855,511,477.70 |
|
|
| |
A-1 notes Ending Principal balance |
| $ | 0.00 |
|
|
| |
A-2 notes Ending Principal balance |
| $ | 209,868,575.98 |
|
|
| |
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 |
| $ | 29,942,901.72 |
|
|
| |
Certificate Ending Principal balance |
| $ | 23,000,000.00 |
|
|
| |
|
|
|
|
|
| ||
Release to Seller as Excess |
| $ | 2,101,305.25 |
| $ | 2,101,305.25 |
|
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 |
|
|
|
|
| 10/15/2004 |
|
|
|
|
|
|
|
|
|
|
| Amount |
| Factor |
| Per/$1000 |
| |||
Summary and Factors |
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (Beginning of Period) |
|
|
|
|
| $ | 910,337,492.28 |
| 0.7915978 |
| $ | 791.60 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
| $ | 2,775,680.05 |
| 0.0118619 |
| $ | 11.86 |
| |
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 |
|
|
|
|
| $ | 31,861,812.23 |
| 0.7906157 |
| $ | 790.62 |
| |
Certificate Beginning Principal balance |
|
|
|
|
| $ | 23,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (End of Period) |
|
|
|
|
| $ | 855,511,477.70 |
| 0.7439230 |
| $ | 743.92 |
| |
A-1 notes Ending Principal balance |
|
|
| $ | 234,000,000.00 |
| $ | (0.00 | ) | (0.0000000 | ) | $ | (0.00 | ) |
|
| Pro rata% |
|
|
|
|
|
|
|
|
|
|
|
|
A-2 notes Ending Principal balance |
|
|
| $ | 260,000,000.00 |
| $ | 209,868,575.98 |
| 0.8071868 |
| $ | 807.19 |
|
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 |
| $ | 29,942,901.72 |
| 0.7430000 |
| $ | 743.00 |
|
Certificate Ending Principal balance |
|
|
| $ | 23,000,000.00 |
| $ | 23,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A-1 notes Interest Paid |
|
|
|
|
| $ | 2,845.07 |
| 0.0000122 |
| $ | 0.01 |
| |
Class A-2 notes Interest Paid |
|
|
|
|
| $ | 370,500.00 |
| 0.0014250 |
| $ | 1.43 |
| |
Class A-3a notes Interest Paid |
|
|
|
|
| $ | 325,375.00 |
| 0.0015833 |
| $ | 1.58 |
| |
Class A-3b notes Interest Paid |
|
|
|
|
| $ | 287,137.50 |
| 0.0020583 |
| $ | 2.06 |
| |
Class A-4a notes Interest Paid |
|
|
|
|
| $ | 220,890.00 |
| 0.0016583 |
| $ | 1.66 |
| |
Class A-4b notes Interest Paid |
|
|
|
|
| $ | 322,508.33 |
| 0.0028167 |
| $ | 2.82 |
| |
Class B notes Interest Paid |
|
|
|
|
| $ | 88,947.56 |
| 0.0022071 |
| $ | 2.21 |
| |
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 |
|
|
|
|
| $ | 2,775,680.05 |
| 0.0118619 |
| $ | 11.86 |
| |
Class A-2 notes Principal Paid |
|
|
|
|
| $ | 50,131,424.02 |
| 0.1928132 |
| $ | 192.81 |
| |
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 |
|
|
|
|
| $ | 1,918,910.51 |
| 0.0476156 |
| $ | 47.62 |
| |
Certificate Principal Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry Account |
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry |
| 0.75000 | % | 11/25/2003 |
| 1.7868 | % |
|
|
|
| |||
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 | % | $ | 21,387,786.94 |
|
|
|
|
| ||
Required Spread Account Floor |
|
|
| 2.00 | % | $ | 23,000,000.00 |
|
|
|
|
| ||
Required Spread Account |
|
|
|
|
| $ | 23,000,000.00 |
|
|
|
|
| ||
Beginning Spread Account Balance |
|
|
|
|
| $ | 23,000,000.00 |
|
|
|
|
| ||
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 |
|
|
|
|
| $ | 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 |
|
|
|
|
| $ | 2,860,086.50 |
|
|
|
|
| ||
5
