Exhibit 20.1
CNH Equipment Trust 2002-B
$270,000,000 Class A-1 1.40625% Asset Backed Notes due December 9, 2003
$270,000,000 Class A-2 1.860% Asset Backed Notes due June 15, 2005
$305,000,000 Class A-3 Floating-Rate Asset Backed Notes due December 15, 2006
$186,250,000 Class A-4 Floating-Rate Asset Backed Notes due April 15, 2008
$35,750,000 Class B 4.120% Asset Backed Notes due May 17, 2010
$33,000,000 4.120% 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 |
|
|
|
|
| 3 |
| 3 |
| 3 |
|
Cutoff Date |
|
|
| 1/31/2004 |
| ||||
Date Added |
|
|
| 10/31/2002 |
| 11/30/2002 |
| 12/31/2002 |
|
Pool |
| Period |
| Pool 1 |
| Pool 2 |
| Pool 3 |
|
Scheduled Cashflows |
| 0 |
| 4,698,702.79 |
| 1,084,471.80 |
| 563,137.07 |
|
|
| 1 |
| 9,382,774.26 |
| 1,829,434.03 |
| 1,130,857.09 |
|
|
| 2 |
| 10,790,143.14 |
| 2,345,069.50 |
| 1,280,295.23 |
|
|
| 3 |
| 16,890,006.86 |
| 2,461,935.79 |
| 1,263,554.78 |
|
|
| 4 |
| 21,301,416.57 |
| 2,244,275.32 |
| 1,507,296.25 |
|
|
| 5 |
| 19,217,714.65 |
| 2,242,846.08 |
| 1,434,297.21 |
|
|
| 6 |
| 16,224,440.49 |
| 1,786,422.60 |
| 1,330,696.09 |
|
|
| 7 |
| 14,643,181.02 |
| 1,879,555.51 |
| 1,329,449.59 |
|
|
| 8 |
| 16,425,085.38 |
| 2,035,981.12 |
| 1,424,957.55 |
|
|
| 9 |
| 14,515,079.90 |
| 4,339,074.80 |
| 1,310,325.87 |
|
|
| 10 |
| 10,683,003.29 |
| 8,313,084.67 |
| 3,776,270.86 |
|
|
| 11 |
| 11,298,065.74 |
| 2,160,933.48 |
| 5,988,282.45 |
|
|
| 12 |
| 9,775,564.78 |
| 2,149,471.29 |
| 1,411,079.52 |
|
|
| 13 |
| 9,031,234.74 |
| 1,731,136.92 |
| 1,055,741.37 |
|
|
| 14 |
| 9,349,213.06 |
| 2,081,810.53 |
| 1,067,606.69 |
|
|
| 15 |
| 15,029,942.08 |
| 2,188,800.29 |
| 1,029,151.23 |
|
|
| 16 |
| 19,191,360.23 |
| 1,973,504.94 |
| 1,142,030.38 |
|
|
| 17 |
| 16,621,890.89 |
| 1,917,652.92 |
| 1,174,605.12 |
|
|
| 18 |
| 13,293,532.33 |
| 1,450,589.54 |
| 1,066,729.49 |
|
|
| 19 |
| 11,380,264.47 |
| 1,552,339.33 |
| 1,056,188.80 |
|
|
| 20 |
| 12,787,585.39 |
| 1,718,222.21 |
| 1,133,011.90 |
|
|
| 21 |
| 10,910,305.92 |
| 4,141,904.90 |
| 1,051,611.68 |
|
|
| 22 |
| 7,018,075.51 |
| 8,024,548.62 |
| 3,376,418.30 |
|
|
| 23 |
| 7,417,204.50 |
| 1,675,799.53 |
| 5,545,801.49 |
|
|
| 24 |
| 6,313,326.88 |
| 1,776,351.41 |
| 1,058,006.60 |
|
|
| 25 |
| 5,635,987.29 |
| 1,274,923.18 |
| 718,047.70 |
|
|
| 26 |
| 6,133,427.34 |
| 1,623,016.23 |
| 711,820.39 |
|
|
| 27 |
| 10,120,316.14 |
| 1,669,530.09 |
| 673,216.95 |
|
|
| 28 |
| 13,044,653.34 |
| 1,374,667.57 |
| 763,147.61 |
|
|
| 29 |
| 11,023,925.15 |
| 1,403,993.65 |
| 782,849.57 |
|
|
| 30 |
| 8,792,767.42 |
| 943,564.93 |
| 703,345.57 |
|
|
| 31 |
| 7,393,849.26 |
| 1,029,734.18 |
| 700,475.25 |
|
|
| 32 |
| 8,715,996.23 |
| 1,280,475.56 |
| 759,378.87 |
|
|
| 33 |
| 7,099,761.86 |
| 2,531,519.27 |
| 654,371.79 |
|
|
| 34 |
| 4,672,870.41 |
| 4,747,686.28 |
| 2,210,127.80 |
|
|
| 35 |
| 5,552,474.32 |
| 1,216,014.99 |
| 4,016,617.64 |
|
|
| 36 |
| 4,109,948.09 |
| 1,092,964.80 |
| 705,161.75 |
|
|
| 37 |
| 3,667,660.74 |
| 986,566.49 |
| 483,263.70 |
|
|
| 38 |
| 3,809,845.11 |
| 1,295,617.44 |
| 469,620.08 |
|
|
| 39 |
| 6,536,024.99 |
| 1,213,486.66 |
| 441,805.63 |
|
|
| 40 |
| 8,976,258.50 |
| 971,614.24 |
| 502,996.94 |
|
|
| 41 |
| 6,900,557.12 |
| 876,330.47 |
| 506,709.93 |
|
|
| 42 |
| 5,115,629.73 |
| 602,438.45 |
| 467,014.71 |
|
|
| 43 |
| 3,836,036.67 |
| 593,802.32 |
| 453,052.33 |
|
|
| 44 |
| 4,513,098.31 |
| 860,510.10 |
| 477,295.91 |
|
|
| 45 |
| 2,905,991.45 |
| 2,058,156.07 |
| 417,001.11 |
|
|
| 46 |
| 605,443.30 |
| 3,670,088.20 |
| 1,835,763.63 |
|
|
| 47 |
| 518,523.29 |
| 190,982.72 |
| 3,195,734.67 |
|
|
| 48 |
| 622,276.50 |
| 249,038.68 |
| 194,416.73 |
|
|
| 49 |
| 260,216.86 |
| 133,778.85 |
| 31,556.71 |
|
|
| 50 |
| 268,311.63 |
| 337,337.33 |
| 31,549.61 |
|
|
| 51 |
| 327,746.05 |
| 378,966.25 |
| 20,106.33 |
|
|
| 52 |
| 420,944.11 |
| 151,649.86 |
| 20,106.33 |
|
|
| 53 |
| 430,215.51 |
| 258,352.57 |
| 41,498.94 |
|
|
| 54 |
| 208,802.06 |
| 67,883.85 |
| 20,106.33 |
|
|
| 55 |
| 378,922.50 |
| 32,290.09 |
| 19,585.78 |
|
|
| 56 |
| 150,497.52 |
| 59,868.79 |
| 18,716.51 |
|
|
| 57 |
| 106,627.92 |
| 73,252.89 |
| 18,635.68 |
|
|
| 58 |
| 1,132.60 |
| 26,539.19 |
| 97,831.53 |
|
|
| 59 |
| 90,294.90 |
| 0.00 |
| 161,585.46 |
|
|
| 60 |
| 0.00 |
| 0.00 |
| 741.35 |
|
|
| 61 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 62 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 63 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 64 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 65 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 66 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 67 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 68 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 69 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 70 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 71 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 72 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 73 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 74 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 75 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 76 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 77 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 78 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
|
|
|
|
|
|
|
|
|
Total Amount of Scheduled Cashflow |
| Total |
| 457,136,149.09 |
| 100,381,859.37 |
| 66,832,659.43 |
|
Discount Rate |
|
|
| 5.500 | % | 5.500 | % | 5.500 | % |
Beginning Contract Value |
|
|
| 438,012,433.21 |
| 96,188,309.80 |
| 63,487,750.45 |
|
Scheduled Contract Value Decline |
|
|
| 14,400,288.40 |
| 2,857,125.94 |
| 2,390,808.00 |
|
Unscheduled Contract Value Decline |
|
|
| 2,758,979.92 |
| 1,995,093.45 |
| 450,787.56 |
|
Additional Contract Value Added |
| 1,100,000,217.38 |
| 0.00 |
| 0.00 |
| 0.00 |
|
Ending Contract Value |
|
|
| 420,853,164.89 |
| 91,336,090.41 |
| 60,646,154.89 |
|
1
CNH Equipment Trust 2002-B
$270,000,000 Class A-1 1.40625% Asset Backed Notes due December 9, 2003
$270,000,000 Class A-2 1.860% Asset Backed Notes due June 15, 2005
$305,000,000 Class A-3 Floating-Rate Asset Backed Notes due December 15, 2006
$186,250,000 Class A-4 Floating-Rate Asset Backed Notes due April 15, 2008
$35,750,000 Class B 4.120% Asset Backed Notes due May 17, 2010
$33,000,000 4.120% Asset Backed Certificates
Dated Date (30/360) |
| 1/15/2004 |
|
|
| |
Dated Date (act/360) |
| 1/15/2004 |
|
|
| |
Scheduled Payment Date |
| 2/15/2004 |
|
|
| |
Actual Payment Date |
| 2/17/2004 |
|
|
| |
Days in accrual period (30/360) |
| 30 |
|
|
| |
Days in accrual period (act/360) |
| 33 |
|
|
| |
1 month LIBOR Rate |
| 1.1000 | % |
|
| |
|
|
|
|
|
| |
Collateral Summary |
|
|
|
|
| |
Wtd. Average Discount Rate |
| 5.500 | % |
|
| |
Beginning Contract Value |
| 597,688,493.46 |
|
|
| |
Scheduled Contract Value Decline |
| 19,648,222.34 |
|
|
| |
Unscheduled Contract Value Decline |
| 5,204,860.93 |
|
|
| |
Additional Contract Value Purchased |
| 0.00 |
|
|
| |
Ending Contract Value |
| 572,835,410.19 |
|
|
| |
|
|
|
|
|
| |
Beginning Pre-funding Account Balance |
| 0.00 |
|
|
| |
Ending Pre-funding Account Balance |
| 0.00 |
|
|
| |
|
|
|
|
|
| |
Total Beginning Balance (Pool Balance + Pre-funding Account Balance) |
| 597,688,493.46 |
|
|
| |
Total Ending Balance (Pool Balance + Pre-funding Account Balance) |
| 572,835,410.19 |
|
|
| |
|
|
|
|
|
| |
Collateral Performance |
|
|
|
|
| |
Scheduled Amounts 30 - 59 days past due |
| $ | 1,923,145.10 |
| 0.34 | % |
Scheduled Amounts 60 days or more past due |
| $ | 1,219,984.36 |
| 0.21 | % |
Net Losses on Liquidated Receivables |
| $ | 238,472.76 |
| 0.04 | % |
Cumulative Net Losses |
| $ | 2,562,051.46 |
|
|
|
Number of Loans at Beginning of Period |
| 35,483 |
|
|
| |
Number of Loans at End of Period |
| 34,911 |
|
|
| |
Repossessed Equipment not Sold or Reassigned (Beginning) |
| $ | 1,012,783.89 |
|
|
|
Repossessed Equipment not Sold or Reassigned (End) |
| $ | 980,843.56 |
|
|
|
|
|
|
|
|
| |
Collections and Reinvestment Income |
|
|
|
|
| |
Receipts During the period |
| $ | 27,407,283.80 |
|
|
|
|
|
|
|
|
| |
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 |
| $ | 27,407,283.80 |
|
|
|
|
|
|
|
|
| |
Reinvestment Income (excluding Pre-funding Account) |
| $ | 38,912.99 |
|
|
|
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 |
| $ | 27,446,196.79 |
|
|
|
|
|
|
|
|
| |
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 2002-B
$270,000,000 Class A-1 1.40625% Asset Backed Notes due December 9, 2003
$270,000,000 Class A-2 1.860% Asset Backed Notes due June 15, 2005
$305,000,000 Class A-3 Floating-Rate Asset Backed Notes due December 15, 2006
$186,250,000 Class A-4 Floating-Rate Asset Backed Notes due April 15, 2008
$35,750,000 Class B 4.120% Asset Backed Notes due May 17, 2010
$33,000,000 4.120% Asset Backed Certificates
Actual Payment Date |
|
|
|
|
|
|
|
|
| 2/17/2004 |
| |||
|
|
|
|
|
|
|
|
|
|
|
| |||
Caclulation of Distributable Amounts |
|
|
|
|
|
|
|
|
|
|
| |||
|
|
|
|
|
|
|
|
|
|
|
| |||
Current Servicing Fee Due |
|
|
|
|
| 1.000 | % |
|
| $ | 498,073.74 |
| ||
Past Due Servicing Fee |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| ||
Total Servicing Fee Due |
|
|
|
|
|
|
|
|
| $ | 498,073.74 |
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
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) |
|
|
|
|
|
|
|
|
| $ | 597,688,493.46 |
| ||
A-1 notes Beginning Principal balance |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| ||
A-2 notes Beginning Principal balance |
|
|
|
|
|
|
|
|
| $ | 54,013,617.42 |
| ||
A-3 notes Beginning Principal balance |
|
|
|
|
|
|
|
|
| $ | 305,000,000.00 |
| ||
A-4 notes Beginning Principal balance |
|
|
|
|
|
|
|
|
| $ | 186,250,000.00 |
| ||
B notes Beginning Principal balance |
|
|
|
|
|
|
|
|
| $ | 19,424,876.04 |
| ||
Certificate Beginning Principal balance |
|
|
|
|
|
|
|
|
| $ | 33,000,000.00 |
| ||
|
| Type |
| Coupon/ |
| Swap Adj. |
| Daycount |
|
|
| |||
A-1 notes Current Interest Due |
| Fix |
| 1.40625 | % | 1.40625 | % | act/360 |
| $ | 0.00 |
| ||
A-2 notes Current Interest Due |
| Fix |
| 1.86000 | % | 1.86000 | % | 30/360 |
| $ | 83,721.11 |
| ||
A-3 notes Current Interest Due |
| Flt |
| 0.21000 | % | 2.43050 | % | act/360 |
| $ | 366,254.17 |
| ||
A-4 notes Current Interest Due |
| Flt |
| 0.36000 | % | 3.16700 | % | act/360 |
| $ | 249,264.58 |
| ||
B notes Current Interest Due |
| Fix |
| 4.12000 | % | 4.12000 | % | 30/360 |
| $ | 66,692.07 |
| ||
Certificate Current Interest Due |
| Fix |
| 4.12000 | % | 4.12000 | % | 30/360 |
| $ | 113,300.00 |
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
A-1 notes Past Due Interest |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| ||
A-2 notes Past Due Interest |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| ||
A-3 notes Past Due Interest |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| ||
A-4 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-3 notes Interest Due on Past Due Interest |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| ||
A-4 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 |
|
|
|
|
|
|
|
|
| $ | 83,721.11 |
| ||
A-3 notes Total Interest Due |
|
|
|
|
|
|
|
|
| $ | 366,254.17 |
| ||
A-4 notes Total Interest Due |
|
|
|
|
|
|
|
|
| $ | 249,264.58 |
| ||
B notes Total Interest Due |
|
|
|
|
|
|
|
|
| $ | 66,692.07 |
| ||
Certificate Total Interest Due |
|
|
|
|
|
|
|
|
| $ | 113,300.00 |
| ||
|
|
|
|
|
| 1 Month LIBOR |
|
|
|
|
| |||
A-1 Net Swap Payment Due |
|
|
|
|
| 0.00000 | % |
|
| $ | 0.00 |
| ||
A-2 Net Swap Payment Due |
|
|
|
|
| 0.00000 | % |
|
| $ | 0.00 |
| ||
A-3 Net Swap Payment Due |
|
|
|
|
| 2.22050 | % |
|
| $ | 256,835.42 |
| ||
A-4 Net Swap Payment Due |
|
|
|
|
| 2.80700 | % |
|
| $ | 247,867.71 |
| ||
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-3 Net Swap Payment Past Due |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| ||
A-4 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-3 Interest on Swap Payment Past Due |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| ||
A-4 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-3 Total Net Swap Payment Due |
|
|
|
|
|
|
|
|
| $ | 256,835.42 |
| ||
A-4 Total Net Swap Payment Due |
|
|
|
|
|
|
|
|
| $ | 247,867.71 |
| ||
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-3 Net Swap Receipt |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| ||
A-4 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 |
|
|
|
|
|
|
|
|
| $ | 24,045,358.06 |
| ||
A-3 notes Principal Due |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| ||
A-4 notes Principal Due |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| ||
Class B notes Principal Due |
|
|
|
|
|
|
|
|
| $ | 807,725.21 |
| ||
Certificate Principal Due |
|
|
|
|
|
|
|
|
| $ | 0.00 |
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
Total notes Interest Due |
|
|
|
|
|
|
|
|
| $ | 765,931.93 |
| ||
Total notes Principal Due |
|
|
|
|
|
|
|
|
| $ | 24,853,083.27 |
| ||
Net Swap/Termination Payment Due |
|
|
|
|
|
|
|
|
| $ | 504,703.13 |
| ||
Total notes Distributable Amount |
|
|
|
|
|
|
|
|
| $ | 26,123,718.33 |
| ||
3
CNH Equipment Trust 2002-B
$270,000,000 Class A-1 1.40625% Asset Backed Notes due December 9, 2003
$270,000,000 Class A-2 1.860% Asset Backed Notes due June 15, 2005
$305,000,000 Class A-3 Floating-Rate Asset Backed Notes due December 15, 2006
$186,250,000 Class A-4 Floating-Rate Asset Backed Notes due April 15, 2008
$35,750,000 Class B 4.120% Asset Backed Notes due May 17, 2010
$33,000,000 4.120% Asset Backed Certificates
Actual Payment Date |
| 2/17/2004 |
|
|
| |||
|
|
|
|
|
| |||
Cash Available for Distribution |
|
|
|
|
| |||
Total Collections + Reinvestment Income For The Period |
| $ | 27,446,196.79 |
|
|
| ||
|
|
|
|
|
| |||
Beginning Negitive Carry Account |
| $ | 0.00 |
|
|
| ||
Deposits from Negitive Carry Account to Distribution Account |
| $ | 0.00 |
|
|
| ||
|
|
|
|
|
| |||
Beginning Spread Account Balance |
| $ | 22,000,004.35 |
|
|
| ||
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 |
| $ | 27,446,196.79 |
|
|
| ||
|
|
|
|
|
| |||
|
|
|
| Available |
| |||
|
|
|
| Cash |
| |||
Cash Allocation (Cashflow Waterfall) |
|
|
|
|
| |||
Is CNH the servicier |
| yes |
|
|
| |||
Servicing Fee Paid (If CNH is not the servicer) |
| $ | 0.00 |
|
|
| ||
Servicing Fee Shortfall |
| $ | 0.00 |
|
|
| ||
|
|
|
| $ | 27,446,196.79 |
| ||
Administration Fee Paid |
| $ | 166.67 |
|
|
| ||
Administration Fee Shortfall |
| $ | 0.00 |
|
|
| ||
|
|
|
| $ | 27,446,030.12 |
| ||
Net Swap Payment Paid |
| $ | 504,703.13 |
|
|
| ||
Net Swap Payment Shortfall |
| $ | 0.00 |
|
|
| ||
|
|
|
|
|
| |||
Remaining Cash Available to Pay Note Interest & Swap Termination Payment |
|
|
| $ | 26,941,327.00 |
| ||
|
|
|
|
|
| |||
Cash Available to Pay Note Interest |
| $ | 26,941,327.00 |
|
|
| ||
Cash Available to Pay Termination Payment |
| $ | 0.00 |
|
|
| ||
|
|
|
|
|
| |||
Class A-1 notes Interest Paid |
| $ | 0.00 |
|
|
| ||
Class A-2 notes Interest Paid |
| $ | 83,721.11 |
|
|
| ||
Class A-3 notes Interest Paid |
| $ | 366,254.17 |
|
|
| ||
Class A-4 notes Interest Paid |
| $ | 249,264.58 |
|
|
| ||
|
|
|
| $ | 26,242,087.14 |
| ||
Class A-1 notes Interest Shortfall |
| $ | 0.00 |
|
|
| ||
Class A-2 notes Interest Shortfall |
| $ | 0.00 |
|
|
| ||
Class A-3 notes Interest Shortfall |
| $ | 0.00 |
|
|
| ||
Class A-4 notes Interest Shortfall |
| $ | 0.00 |
|
|
| ||
|
|
|
|
|
| |||
Swap Termination Payment Paid |
| $ | 0.00 |
|
|
| ||
Swap Termination Payment Shortfall |
| $ | 0.00 |
|
|
| ||
|
|
|
| $ | 26,242,087.14 |
| ||
Class B notes Interest Paid |
| $ | 66,692.07 |
|
|
| ||
Class B notes Interest Shortfall |
| $ | 0.00 |
|
|
| ||
|
|
|
| $ | 26,175,395.06 |
| ||
Class A-1 notes Principal Paid |
| $ | 0.00 |
|
|
| ||
Class A-2 notes Principal Paid |
| $ | 24,045,358.06 |
|
|
| ||
Class A-3 notes Principal Paid |
| $ | 0.00 |
|
|
| ||
Class A-4 notes Principal Paid |
| $ | 0.00 |
|
|
| ||
Class B notes Principal Paid |
| $ | 807,725.21 |
|
|
| ||
|
|
|
|
| $ | 1,322,311.79 |
| |
Deposits to Spread Account |
| $ | 0.00 |
|
|
| ||
|
|
|
|
| $ | 1,322,311.79 |
| |
Certificate Interest Paid |
| $ | 113,300.00 |
|
|
| ||
Certificate Interest Shortfall |
| $ | 0.00 |
|
|
| ||
|
|
|
|
| $ | 1,209,011.79 |
| |
Certificate Principal Paid |
| $ | 0.00 |
|
|
| ||
|
|
|
| $ | 1,209,011.79 |
| ||
Total Principal Balance of Notes and Certificates (End of Period) |
| $ | 572,835,410.19 |
|
|
| ||
A-1 notes Ending Principal balance |
| $ | 0.00 |
|
|
| ||
A-2 notes Ending Principal balance |
| $ | 29,968,259.36 |
|
|
| ||
A-3 notes Ending Principal balance |
| $ | 305,000,000.00 |
|
|
| ||
A-4 notes Ending Principal balance |
| $ | 186,250,000.00 |
|
|
| ||
B notes Ending Principal balance |
| $ | 18,617,150.83 |
|
|
| ||
Certificate Ending Principal balance |
| $ | 33,000,000.00 |
|
|
| ||
|
|
|
|
|
| |||
Servicing Fee Paid (If CNH is the servicer) |
| $ | 498,073.74 |
|
|
| ||
Servicing Fee Shortfall |
| $ | 0.00 |
|
|
| ||
Release to Seller as Excess |
| $ | 710,938.05 |
| $ | 710,938.05 |
| |
4
CNH Equipment Trust 2002-B
$270,000,000 Class A-1 1.40625% Asset Backed Notes due December 9, 2003
$270,000,000 Class A-2 1.860% Asset Backed Notes due June 15, 2005
$305,000,000 Class A-3 Floating-Rate Asset Backed Notes due December 15, 2006
$186,250,000 Class A-4 Floating-Rate Asset Backed Notes due April 15, 2008
$35,750,000 Class B 4.120% Asset Backed Notes due May 17, 2010
$33,000,000 4.120% Asset Backed Certificates
Actual Payment Date |
|
|
|
|
|
|
| 2/17/2004 |
|
|
|
|
| |||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
|
|
|
|
|
|
| Amount |
| Factor |
| Per/$1000 |
| |||
Summary and Factors |
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (Beginning of Period) |
|
|
|
|
|
|
| $ | 597,688,493.46 |
| 0.5433532 |
| $ | 543.35 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | (0.00 | ) | (0.0000000 | ) | $ | (0.00 | ) | |
A-2 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 54,013,617.42 |
| 0.2000504 |
| $ | 200.05 |
| |
A-3 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 305,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
A-4 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 186,250,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
B notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 19,424,876.04 |
| 0.5433532 |
| $ | 543.35 |
| |
Certificate Beginning Principal balance |
|
|
|
|
|
|
| $ | 33,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (End of Period) |
|
|
|
|
|
|
| $ | 572,835,410.19 |
| 0.5207595 |
| $ | 520.76 |
| |
A-1 notes Ending Principal balance |
|
|
| $ | 270,000,000.00 |
|
|
| $ | (0.00 | ) | (0.0000000 | ) | $ | (0.00 | ) |
A-2 notes Ending Principal balance |
|
|
| $ | 270,000,000.00 |
|
|
| $ | 29,968,259.36 |
| 0.1109936 |
| $ | 110.99 |
|
A-3 notes Ending Principal balance |
|
|
| $ | 305,000,000.00 |
|
|
| $ | 305,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
A-4 notes Ending Principal balance |
|
|
| $ | 186,250,000.00 |
| 93.75 | % | $ | 186,250,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
B notes Ending Principal balance |
|
|
| $ | 35,750,000.00 |
| 3.25 | % | $ | 18,617,150.83 |
| 0.5207595 |
| $ | 520.76 |
|
Certificate Ending Principal balance |
|
|
| $ | 33,000,000.00 |
| 3.00 | % | $ | 33,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A-1 notes Interest Paid |
|
|
|
|
|
|
| $ | (0.00 | ) | (0.0000000 | ) | $ | (0.00 | ) | |
Class A-2 notes Interest Paid |
|
|
|
|
|
|
| $ | 83,721.11 |
| 0.0003101 |
| $ | 0.31 |
| |
Class A-3 notes Interest Paid |
|
|
|
|
|
|
| $ | 366,254.17 |
| 0.0012008 |
| $ | 1.20 |
| |
Class A-4 notes Interest Paid |
|
|
|
|
|
|
| $ | 249,264.58 |
| 0.0013383 |
| $ | 1.34 |
| |
Class B notes Interest Paid |
|
|
|
|
|
|
| $ | 66,692.07 |
| 0.0018655 |
| $ | 1.87 |
| |
Certificate Interest Paid |
|
|
|
|
|
|
| $ | 113,300.00 |
| 0.0034333 |
| $ | 3.43 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A-1 notes Interest Shortfall |
|
|
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A21 notes Interest Shortfall |
|
|
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A-3 notes Interest Shortfall |
|
|
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A-4 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 |
|
|
|
|
|
|
| $ | 24,045,358.06 |
| 0.0890569 |
| $ | 89.06 |
| |
Class A-3 notes Principal Paid |
|
|
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A-4 notes Principal Paid |
|
|
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class B notes Principal Paid |
|
|
|
|
|
|
| $ | 807,725.21 |
| 0.0225937 |
| $ | 22.59 |
| |
Certificate Principal Paid |
|
|
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry Account |
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry |
| 1.25000 | % | 11/19/2002 |
|
|
| 1.3768 | % |
|
|
|
| |||
Negitive Carry Days Remaining |
|
|
| 5/15/2003 |
|
|
| 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 | % |
|
| $ | 14,320,885.25 |
|
|
|
|
| ||
Required Spread Account Floor |
|
|
| 2.00 | % |
|
| $ | 22,000,004.35 |
|
|
|
|
| ||
Required Spread Account |
|
|
|
|
|
|
| $ | 22,000,004.35 |
|
|
|
|
| ||
Beginning Spread Account Balance |
|
|
|
|
|
|
| $ | 22,000,004.35 |
|
|
|
|
| ||
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 |
|
|
|
|
|
|
| $ | 22,000,004.35 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
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 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Release to Seller |
|
|
|
|
|
|
| $ | 1,209,178.46 |
|
|
|
|
| ||
5
