Exhibit 20.1
CNH Equipment Trust 2003-A
$228,000,000 Class A-1 1.26250% Asset Backed Notes due June 11, 2004
$251,000,000 Class A-2 1.460% Asset Backed Notes due February 15, 2006
$150,000,000 Class A-3a Floating-Rate Asset Backed Notes due July 16, 2007
$108,000,000 Class A-3b 1.890% Asset Backed Notes due July 16, 2007
$107,000,000 Class A-4a Floating-Rate Asset Backed Notes due September 15, 2009
$96,000,000 Class A-4b 2.570% Asset Backed Notes due September 15, 2009
$32,500,000 Class B 3.130% Asset Backed Notes due November 15, 2010
$27,500,000 3.130% Asset Backed Certificates
Please contact Kim Zier at 262-636-6644 with any questions regarding this report or email abs@cnh.com
For additional information consult http://investors.cnh.com
|
|
|
| 1 |
| 2 |
| 3 |
| 4 |
|
|
|
|
| 3 |
| 3 |
| 3 |
| 3 |
|
Cutoff Date |
|
|
| 6/30/2004 |
| ||||||
Date Added |
|
|
| 4/30/2003 |
| 5/31/2003 |
| 6/30/2003 |
| 7/31/2003 |
|
Pool |
| Period |
| Pool 1 |
| Pool 2 |
| Pool 3 |
| Pool 4 |
|
Scheduled Cashflows |
| 0 |
| 4,398,253.55 |
| 673,873.41 |
| 2,059,396.30 |
| 605,844.48 |
|
|
| 1 |
| 7,187,903.82 |
| 1,616,686.75 |
| 2,384,699.92 |
| 1,820,271.74 |
|
|
| 2 |
| 7,658,821.77 |
| 1,885,040.41 |
| 2,833,513.65 |
| 516,477.12 |
|
|
| 3 |
| 8,289,829.21 |
| 1,898,896.51 |
| 2,870,702.95 |
| 676,968.35 |
|
|
| 4 |
| 7,362,804.25 |
| 2,224,319.20 |
| 2,861,641.18 |
| 528,533.83 |
|
|
| 5 |
| 7,470,881.25 |
| 2,263,583.29 |
| 3,287,979.48 |
| 479,181.70 |
|
|
| 6 |
| 12,679,673.55 |
| 2,310,260.98 |
| 3,943,434.29 |
| 690,149.47 |
|
|
| 7 |
| 13,463,409.61 |
| 2,140,989.61 |
| 2,912,268.44 |
| 630,760.89 |
|
|
| 8 |
| 13,378,861.95 |
| 1,933,155.22 |
| 2,684,691.01 |
| 473,400.24 |
|
|
| 9 |
| 17,958,618.25 |
| 1,877,749.45 |
| 2,854,170.79 |
| 489,292.62 |
|
|
| 10 |
| 13,958,025.91 |
| 6,569,528.33 |
| 2,896,110.52 |
| 513,041.62 |
|
|
| 11 |
| 5,529,775.40 |
| 8,216,108.22 |
| 8,477,918.72 |
| 546,411.97 |
|
|
| 12 |
| 5,819,965.49 |
| 1,740,675.19 |
| 10,595,714.33 |
| 2,043,287.43 |
|
|
| 13 |
| 5,746,297.85 |
| 1,736,754.33 |
| 2,583,815.46 |
| 2,060,677.39 |
|
|
| 14 |
| 5,626,721.66 |
| 1,749,171.48 |
| 2,610,044.06 |
| 485,852.61 |
|
|
| 15 |
| 6,023,138.37 |
| 1,739,311.52 |
| 2,614,941.60 |
| 606,888.51 |
|
|
| 16 |
| 5,827,335.22 |
| 2,033,029.56 |
| 2,587,924.95 |
| 480,628.50 |
|
|
| 17 |
| 5,745,288.93 |
| 2,078,577.88 |
| 3,026,697.83 |
| 434,379.00 |
|
|
| 18 |
| 10,691,969.06 |
| 2,116,443.18 |
| 3,640,659.43 |
| 630,158.56 |
|
|
| 19 |
| 11,561,489.70 |
| 1,935,684.86 |
| 2,633,071.04 |
| 579,687.77 |
|
|
| 20 |
| 11,914,937.96 |
| 1,763,777.65 |
| 2,438,312.20 |
| 425,504.75 |
|
|
| 21 |
| 16,130,867.32 |
| 1,678,656.90 |
| 2,566,155.76 |
| 442,603.93 |
|
|
| 22 |
| 12,031,253.70 |
| 6,316,035.92 |
| 2,613,625.99 |
| 458,044.58 |
|
|
| 23 |
| 3,747,291.43 |
| 7,740,432.46 |
| 8,062,466.92 |
| 492,112.64 |
|
|
| 24 |
| 4,031,574.52 |
| 1,080,267.91 |
| 9,779,492.47 |
| 2,101,593.70 |
|
|
| 25 |
| 3,863,457.54 |
| 1,064,832.26 |
| 1,546,458.47 |
| 1,907,716.54 |
|
|
| 26 |
| 3,895,068.83 |
| 1,060,274.12 |
| 1,596,910.00 |
| 317,925.26 |
|
|
| 27 |
| 4,080,779.29 |
| 1,083,565.26 |
| 1,544,705.01 |
| 424,677.97 |
|
|
| 28 |
| 3,948,372.39 |
| 1,322,631.54 |
| 1,590,967.20 |
| 308,704.21 |
|
|
| 29 |
| 3,905,788.98 |
| 1,329,519.18 |
| 1,883,985.65 |
| 282,249.12 |
|
|
| 30 |
| 7,844,864.16 |
| 1,414,325.85 |
| 2,394,067.22 |
| 448,464.79 |
|
|
| 31 |
| 8,555,075.96 |
| 1,257,260.25 |
| 1,654,166.28 |
| 419,200.08 |
|
|
| 32 |
| 9,224,308.26 |
| 1,101,692.99 |
| 1,490,682.60 |
| 279,717.30 |
|
|
| 33 |
| 12,335,819.70 |
| 1,065,005.99 |
| 1,579,208.75 |
| 288,670.48 |
|
|
| 34 |
| 8,965,407.63 |
| 4,506,397.76 |
| 1,628,585.09 |
| 307,476.18 |
|
|
| 35 |
| 2,566,981.07 |
| 5,410,592.09 |
| 5,388,141.22 |
| 315,484.31 |
|
|
| 36 |
| 2,747,585.99 |
| 803,380.06 |
| 6,566,132.29 |
| 1,383,895.94 |
|
|
| 37 |
| 2,641,501.43 |
| 774,921.51 |
| 1,104,274.34 |
| 1,272,406.17 |
|
|
| 38 |
| 2,617,942.99 |
| 775,371.65 |
| 1,145,213.84 |
| 237,977.83 |
|
|
| 39 |
| 2,883,603.62 |
| 817,833.10 |
| 1,117,976.64 |
| 267,212.05 |
|
|
| 40 |
| 2,884,963.33 |
| 1,009,035.79 |
| 1,209,656.84 |
| 414,695.85 |
|
|
| 41 |
| 3,093,356.07 |
| 1,141,920.28 |
| 1,432,713.64 |
| 200,828.69 |
|
|
| 42 |
| 6,982,575.91 |
| 1,135,939.71 |
| 1,990,004.97 |
| 406,311.26 |
|
|
| 43 |
| 6,539,983.26 |
| 972,708.56 |
| 1,201,601.57 |
| 324,368.76 |
|
|
| 44 |
| 7,130,146.49 |
| 853,124.10 |
| 1,092,961.81 |
| 185,444.16 |
|
|
| 45 |
| 9,546,140.59 |
| 806,294.88 |
| 1,092,643.80 |
| 214,142.96 |
|
|
| 46 |
| 6,080,296.30 |
| 3,902,089.54 |
| 1,179,042.73 |
| 262,817.07 |
|
|
| 47 |
| 663,364.12 |
| 4,543,147.18 |
| 4,731,149.88 |
| 260,220.32 |
|
|
| 48 |
| 201,977.60 |
| 109,847.56 |
| 5,396,680.70 |
| 1,245,350.14 |
|
|
| 49 |
| 261,996.85 |
| 106,544.48 |
| 186,402.35 |
| 1,202,106.59 |
|
|
| 50 |
| 227,479.25 |
| 62,378.55 |
| 113,977.17 |
| 9,049.66 |
|
|
| 51 |
| 372,714.88 |
| 65,842.97 |
| 97,539.70 |
| 67,651.38 |
|
|
| 52 |
| 299,367.59 |
| 108,661.89 |
| 104,469.93 |
| 16,971.38 |
|
|
| 53 |
| 340,624.52 |
| 139,479.21 |
| 127,812.84 |
| 6,899.79 |
|
|
| 54 |
| 537,356.63 |
| 85,629.87 |
| 189,272.31 |
| 19,269.96 |
|
|
| 55 |
| 629,145.24 |
| 158,824.86 |
| 110,412.26 |
| 24,469.11 |
|
|
| 56 |
| 694,559.42 |
| 85,155.54 |
| 125,532.24 |
| 6,868.79 |
|
|
| 57 |
| 1,031,575.67 |
| 70,689.57 |
| 96,138.15 |
| 6,659.26 |
|
|
| 58 |
| 730,635.84 |
| 623,576.38 |
| 87,131.02 |
| 24,025.38 |
|
|
| 59 |
| 597.56 |
| 284,084.52 |
| 585,945.14 |
| 6,659.26 |
|
|
| 60 |
| 597.56 |
| 668.95 |
| 174,868.43 |
| 198,788.19 |
|
|
| 61 |
| 1,025.95 |
| 1,161.79 |
| 0.00 |
| 91,709.90 |
|
|
| 62 |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 63 |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 64 |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 65 |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 66 |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 67 |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 68 |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 69 |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 70 |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 71 |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 72 |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 73 |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 74 |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 75 |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 76 |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 77 |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 78 |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Amount of Scheduled Cashflow |
| Total |
| 352,562,028.20 |
| 107,373,420.01 |
| 149,376,881.37 |
| 32,868,839.49 |
|
Discount Rate |
|
|
| 5.400 | % | 5.400 | % | 5.400 | % | 5.400 | % |
Beginning Contract Value |
|
|
| 333,231,525.71 |
| 100,813,315.84 |
| 148,239,139.87 |
| 32,081,783.32 |
|
Scheduled Contract Value Decline |
|
|
| 11,586,956.85 |
| 2,961,395.33 |
| 12,466,910.53 |
| 2,061,840.87 |
|
Unscheduled Contract Value Decline |
|
|
| 157,932.09 |
| 623,800.46 |
| 325,687.99 |
| 256,730.20 |
|
Additional Contract Value Added |
| 1,000,000,000.29 |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
Ending Contract Value |
|
|
| 321,486,636.77 |
| 97,228,120.05 |
| 135,446,541.35 |
| 29,763,212.26 |
|
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) |
| 6/15/2004 |
|
|
| |
Dated Date (act/360) |
| 6/15/2004 |
|
|
| |
Scheduled Payment Date |
| 7/15/2004 |
|
|
| |
Actual Payment Date |
| 7/15/2004 |
|
|
| |
Days in accrual period (30/360) |
| 30 |
|
|
| |
Days in accrual period (act/360) |
| 30 |
|
|
| |
1 month LIBOR Rate |
| 1.23875 | % |
|
| |
|
|
|
|
|
| |
Collateral Summary |
|
|
|
|
| |
Wtd. Average Discount Rate |
| 5.400 | % |
|
| |
Beginning Contract Value |
| 614,365,764.73 |
|
|
| |
Scheduled Contract Value Decline |
| 29,077,103.57 |
|
|
| |
Unscheduled Contract Value Decline |
| 1,364,150.73 |
|
|
| |
Additional Contract Value Purchased |
| 0.00 |
|
|
| |
Ending Contract Value |
| 583,924,510.43 |
|
|
| |
|
|
|
|
|
| |
Beginning Pre-funding Account Balance |
| 0.00 |
|
|
| |
Ending Pre-funding Account Balance |
| 0.00 |
|
|
| |
|
|
|
|
|
| |
Total Beginning Balance (Pool Balance + Pre-funding Account Balance) |
| 614,365,764.73 |
|
|
| |
Total Ending Balance (Pool Balance + Pre-funding Account Balance) |
| 583,924,510.43 |
|
|
| |
|
|
|
|
|
| |
Collateral Performance |
|
|
|
|
| |
Scheduled Amounts 30 - 59 days past due |
| $ | 1,045,852.10 |
| 0.18 | % |
Scheduled Amounts 60 days or more past due |
| $ | 1,351,306.19 |
| 0.23 | % |
Net Losses on Liquidated Receivables |
| $ | 49,556.51 |
| 0.01 | % |
Cumulative Net Losses |
| $ | 1,948,016.02 |
|
|
|
Number of Loans at Beginning of Period |
| 37,226 |
|
|
| |
Number of Loans at End of Period |
| 36,046 |
|
|
| |
Repossessed Equipment not Sold or Reassigned (Beginning) |
| $ | 801,651.93 |
|
|
|
Repossessed Equipment not Sold or Reassigned (End) |
| $ | 830,613.62 |
|
|
|
|
|
|
|
|
| |
Collections and Reinvestment Income |
|
|
|
|
| |
Receipts During the period |
| $ | 33,157,996.15 |
|
|
|
|
|
|
|
|
| |
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 |
| $ | 33,157,996.15 |
|
|
|
|
|
|
|
|
| |
Reinvestment Income (excluding Pre-funding Account) |
| $ | 39,567.16 |
|
|
|
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 |
| $ | 33,197,563.31 |
|
|
|
|
|
|
|
|
| |
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 |
|
|
|
|
|
|
|
|
| 7/15/2004 |
|
Caclulation of Distributable Amounts |
|
|
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| ||
Current Servicing Fee Due |
| 1.000 | % |
|
|
|
|
|
| $ | 511,971.47 |
| |
Past Due Servicing Fee |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
Total Servicing Fee Due |
|
|
|
|
|
|
|
|
| $ | 511,971.47 |
| |
|
|
|
|
|
|
|
|
|
|
|
| ||
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) |
|
|
|
|
|
|
|
|
| $ | 614,365,764.73 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 notes Beginning Principal balance |
|
|
|
|
|
|
|
|
| $ | 105,898,877.38 |
| |
A-3a notes Beginning Principal balance |
|
|
|
|
|
|
|
|
| $ | 150,000,000.00 |
| |
A-3b notes Beginning Principal balance |
|
|
|
|
|
|
|
|
| $ | 108,000,000.00 |
| |
A-4a notes Beginning Principal balance |
|
|
|
|
|
|
|
|
| $ | 107,000,000.00 |
| |
A-4b notes Beginning Principal balance |
|
|
|
|
|
|
|
|
| $ | 96,000,000.00 |
| |
B notes Beginning Principal balance |
|
|
|
|
|
|
|
|
| $ | 19,966,887.35 |
| |
Certificate Beginning Principal balance |
|
|
|
|
|
|
|
|
| $ | 27,500,000.00 |
| |
|
| Type |
| Coupon/ |
| Swap Adj. |
| Daycount |
|
|
| ||
A-1 notes Current Interest Due |
| Fix |
| 1.26250 | % | 1.26250 | % | act/360 |
| $ | 0.00 |
| |
A-2 notes Current Interest Due |
| Fix |
| 1.46000 | % | 1.46000 | % | 30/360 |
| $ | 128,843.63 |
| |
A-3a notes Current Interest Due |
| Flt |
| 0.18000 | % | 1.86300 | % | act/360 |
| $ | 177,343.75 |
| |
A-3b notes Current Interest Due |
| Fix |
| 1.89000 | % | 1.89000 | % | 30/360 |
| $ | 170,100.00 |
| |
A-4a notes Current Interest Due |
| Flt |
| 0.28000 | % | 2.55700 | % | act/360 |
| $ | 135,421.88 |
| |
A-4b notes Current Interest Due |
| Fix |
| 2.57000 | % | 2.57000 | % | 30/360 |
| $ | 205,600.00 |
| |
B notes Current Interest Due |
| Fix |
| 3.13000 | % | 3.13000 | % | 30/360 |
| $ | 52,080.30 |
| |
Certificate Current Interest Due |
| Fix |
| 3.13000 | % | 3.13000 | % | 30/360 |
| $ | 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 |
|
|
|
|
|
|
|
|
| $ | 128,843.63 |
| |
A-3a notes Total Interest Due |
|
|
|
|
|
|
|
|
| $ | 177,343.75 |
| |
A-3b notes Total Interest Due |
|
|
|
|
|
|
|
|
| $ | 170,100.00 |
| |
A-4a notes Total Interest Due |
|
|
|
|
|
|
|
|
| $ | 135,421.88 |
| |
A-4b notes Total Interest Due |
|
|
|
|
|
|
|
|
| $ | 205,600.00 |
| |
B notes Total Interest Due |
|
|
|
|
|
|
|
|
| $ | 52,080.30 |
| |
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 | % |
|
| $ | 55,531.25 |
| |
A-3b Net Swap Payment Due |
|
|
|
|
| 0.00000 | % |
|
| $ | 0.00 |
| |
A-4a Net Swap Payment Due |
|
|
|
|
| 2.27700 | % |
|
| $ | 92,577.29 |
| |
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 |
|
|
|
|
|
|
|
|
| $ | 55,531.25 |
| |
A-3b Total Net Swap Payment Due |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4a Total Net Swap Payment Due |
|
|
|
|
|
|
|
|
| $ | 92,577.29 |
| |
A-4b Total Net Swap Payment Due |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
B Total Net Swap Payment Due |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
Certificate Total Net Swap Payment Due |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| ||
A-1 Net Swap Receipt |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 Net Swap Receipt |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
A-3a Net Swap Receipt |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
A-3b Net Swap Receipt |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4a Net Swap Receipt |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4b Net Swap Receipt |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
B Net Swap Receipt |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
Certificate Net Swap Receipt |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
| �� |
|
|
| ||
A-1 notes Principal Due |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 notes Principal Due |
|
|
|
|
|
|
|
|
| $ | 29,451,913.54 |
| |
A-3a notes Principal Due |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
A-3b notes Principal Due |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4a notes Principal Due |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4b notes Principal Due |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
Class B notes Principal Due |
|
|
|
|
|
|
|
|
| $ | 989,340.76 |
| |
Certificate Principal Due |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| ||
Total notes Interest Due |
|
|
|
|
|
|
|
|
| $ | 869,389.56 |
| |
Total notes Principal Due |
|
|
|
|
|
|
|
|
| $ | 30,441,254.30 |
| |
Net Swap/Termination Payment Due |
|
|
|
|
|
|
|
|
| $ | 148,108.54 |
| |
Total notes Distributable Amount |
|
|
|
|
|
|
|
|
| $ | 31,458,752.40 |
| |
3
CNH Equipment Trust 2003-A
$228,000,000 Class A-1 1.26250% Asset Backed Notes due June 11, 2004
$251,000,000 Class A-2 1.460% Asset Backed Notes due February 15, 2006
$150,000,000 Class A-3a Floating-Rate Asset Backed Notes due July 16, 2007
$108,000,000 Class A-3b 1.890% Asset Backed Notes due July 16, 2007
$107,000,000 Class A-4a Floating-Rate Asset Backed Notes due September 15, 2009
$96,000,000 Class A-4b 2.570% Asset Backed Notes due September 15, 2009
$32,500,000 Class B 3.130% Asset Backed Notes due November 15, 2010
$27,500,000 3.130% Asset Backed Certificates
Actual Payment Date |
| 7/15/2004 |
|
|
| ||
|
|
|
|
|
| ||
Cash Available for Distribution |
|
|
|
|
| ||
Total Collections + Reinvestment Income For The Period |
| $ | 33,197,563.31 |
|
|
| |
|
|
|
|
|
| ||
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 |
| $ | 33,197,563.31 |
|
|
| |
|
|
|
|
|
| ||
|
|
|
| Available |
| ||
Cash Allocation (Cashflow Waterfall) |
|
|
|
|
| ||
Servicing Fee Paid |
| $ | 511,971.47 |
|
|
| |
Servicing Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 32,685,591.84 |
| |
Administration Fee Paid |
| $ | 166.67 |
|
|
| |
Administration Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 32,685,425.17 |
| |
Net Swap Payment Paid |
| $ | 148,108.54 |
|
|
| |
Net Swap Payment Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Remaining Cash Available to Pay Note Interest & Swap Termination Payment |
|
|
| $ | 32,537,316.63 |
| |
|
|
|
|
|
| ||
Cash Available to Pay Note Interest |
| $ | 32,537,316.63 |
|
|
| |
Cash Available to Pay Termination Payment |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Class A-1 notes Interest Paid |
| $ | 0.00 |
|
|
| |
Class A-2 notes Interest Paid |
| $ | 128,843.63 |
|
|
| |
Class A-3a notes Interest Paid |
| $ | 177,343.75 |
|
|
| |
Class A-3b notes Interest Paid |
| $ | 170,100.00 |
|
|
| |
Class A-4a notes Interest Paid |
| $ | 135,421.88 |
|
|
| |
Class A-4b notes Interest Paid |
| $ | 205,600.00 |
|
|
| |
|
|
|
| $ | 31,720,007.37 |
| |
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 |
|
|
| |
|
|
|
| $ | 31,720,007.37 |
| |
Class B notes Interest Paid |
| $ | 52,080.30 |
|
|
| |
Class B notes Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 31,667,927.07 |
| |
Class A-1 notes Principal Paid |
| $ | 0.00 |
|
|
| |
Class A-2 notes Principal Paid |
| $ | 29,451,913.54 |
|
|
| |
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 |
| $ | 989,340.76 |
|
|
| |
|
|
|
| $ | 1,226,672.77 |
| |
Deposits to Spread Account |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 1,226,672.77 |
| |
Certificate Interest Paid |
| $ | 71,729.17 |
|
|
| |
Certificate Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 1,154,943.60 |
| |
Certificate Principal Paid |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 1,154,943.60 |
| |
Total Principal Balance of Notes and Certificates (End of Period) |
| $ | 583,924,510.43 |
|
|
| |
A-1 notes Ending Principal balance |
| $ | 0.00 |
|
|
| |
A-2 notes Ending Principal balance |
| $ | 76,446,963.84 |
|
|
| |
A-3a notes Ending Principal balance |
| $ | 150,000,000.00 |
|
|
| |
A-3b notes Ending Principal balance |
| $ | 108,000,000.00 |
|
|
| |
A-4a notes Ending Principal balance |
| $ | 107,000,000.00 |
|
|
| |
A-4b notes Ending Principal balance |
| $ | 96,000,000.00 |
|
|
| |
B notes Ending Principal balance |
| $ | 18,977,546.59 |
|
|
| |
Certificate Ending Principal balance |
| $ | 27,500,000.00 |
|
|
| |
|
|
|
|
|
| ||
Release to Seller as Excess |
| $ | 1,154,943.60 |
| $ | 1,154,943.60 |
|
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 |
|
|
|
|
|
|
| 7/15/2004 |
|
|
|
|
|
|
|
|
|
|
|
|
| Amount |
| Factor |
| Per/$1000 |
| |||
Summary and Factors |
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (Beginning of Period) |
|
|
|
|
|
|
| $ | 614,365,764.73 |
| 0.6143658 |
| $ | 614.37 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
A-2 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 105,898,877.38 |
| 0.4219079 |
| $ | 421.91 |
| |
A-3a notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 150,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
A-3b notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 108,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
A-4a notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 107,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
A-4b notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 96,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
B notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 19,966,887.35 |
| 0.6143658 |
| $ | 614.37 |
| |
Certificate Beginning Principal balance |
|
|
|
|
|
|
| $ | 27,500,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (End of Period) |
|
|
|
|
|
|
| $ | 583,924,510.43 |
| 0.5839245 |
| $ | 583.92 |
| |
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 |
|
|
| $ | 76,446,963.84 |
| 0.3045696 |
| $ | 304.57 |
|
A-3a notes Ending Principal balance |
| 58.14 | % | $ | 150,000,000.00 |
|
|
| $ | 150,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
A-3b notes Ending Principal balance |
| 41.86 | % | $ | 108,000,000.00 |
|
|
| $ | 108,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
A-4a notes Ending Principal balance |
| 52.71 | % | $ | 107,000,000.00 |
|
|
| $ | 107,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
A-4b notes Ending Principal balance |
| 47.29 | % | $ | 96,000,000.00 |
| 94.00 | % | $ | 96,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
B notes Ending Principal balance |
|
|
| $ | 32,500,000.00 |
| 3.25 | % | $ | 18,977,546.59 |
| 0.5839245 |
| $ | 583.92 |
|
Certificate Ending Principal balance |
|
|
| $ | 27,500,000.00 |
| 2.75 | % | $ | 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 |
|
|
|
|
|
|
| $ | 128,843.63 |
| 0.0005133 |
| $ | 0.51 |
| |
Class A-3a notes Interest Paid |
|
|
|
|
|
|
| $ | 177,343.75 |
| 0.0011823 |
| $ | 1.18 |
| |
Class A-3b notes Interest Paid |
|
|
|
|
|
|
| $ | 170,100.00 |
| 0.0015750 |
| $ | 1.58 |
| |
Class A-4a notes Interest Paid |
|
|
|
|
|
|
| $ | 135,421.88 |
| 0.0012656 |
| $ | 1.27 |
| |
Class A-4b notes Interest Paid |
|
|
|
|
|
|
| $ | 205,600.00 |
| 0.0021417 |
| $ | 2.14 |
| |
Class B notes Interest Paid |
|
|
|
|
|
|
| $ | 52,080.30 |
| 0.0016025 |
| $ | 1.60 |
| |
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 |
|
|
|
|
|
|
| $ | 29,451,913.54 |
| 0.1173383 |
| $ | 117.34 |
| |
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 |
|
|
|
|
|
|
| $ | 989,340.76 |
| 0.0304413 |
| $ | 30.44 |
| |
Certificate Principal Paid |
|
|
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry Account |
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry |
| 0.75000 | % | 5/22/2003 |
|
|
| 1.2974 | % |
|
|
|
| |||
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 | % |
|
| $ | 14,598,112.76 |
|
|
|
|
| ||
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 |
|
|
|
|
|
|
| $ | 454,182.64 |
|
|
|
|
| ||
Monthly Backup Servicing Fee (2bps/12*beginning balance or $4000 floor) |
|
|
|
|
|
|
| $ | 10,239.43 |
|
|
|
|
| ||
Accrued Backup Servicing Fee |
|
|
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Total Backup Servicing Fee Due |
|
|
|
|
|
|
| $ | 10,239.43 |
|
|
|
|
| ||
Backup Servicing Fee Paid |
|
|
|
|
|
|
| $ | 10,239.43 |
|
|
|
|
| ||
Backup Servicer Investment Earnings |
|
|
|
|
|
|
| $ | 366.93 |
|
|
|
|
| ||
Ending Backup Servicing Account Balance |
|
|
|
|
|
|
| $ | 444,310.14 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Release to Seller |
|
|
|
|
|
|
| $ | 1,667,081.74 |
|
|
|
|
| ||
5
