MONTHLY NOTEHOLDERS STATEMENT
M&I AUTO LOAN TRUST 2002-1
Class A1 1.77% Asset Backed Notes
Class A2 1.95% Asset Backed Notes
Class A3 2.49% Asset Backed Notes
Class A4 3.04% Asset Backed Notes
Class B 3.52% Asset Backed Notes
DISTRIBUTION DATE: December 20, 2002
MONTHLY PERIOD: November, 2002
Under the Sales and Servicing Agreement dated as of October 10, 2002 among
Marshall & Ilsley Bank as servicer and Marshall & Ilsley Auto Receivables LLC,
as seller, Marshall & Ilsley Auto Trust 2002-1 as issuer and the Bank One,
National Association as indenture trustee, the Servicer is required to prepare
certain information each month regarding current distributions to Noteholders
and the performance of the Trust during the previous month. The information that
is required to be prepared with respect to the Distribution Date and Monthly
Period listed above is set forth below. Certain of the information is presented
on the basis of an original principal amount of $1,000 per Note, and certain
other information is presented upon the aggregate amounts for the Trust as a
whole.
A. Information Regarding the Current Monthly Distribution
1. Notes
(A) The aggregate amount of the
distribution with respect to:
Class A-1 Notes 18,743,308.60
Class A-2 Notes 198,250.00
Class A-3 Notes 394,250.00
Class A-4 Notes 172,741.67
Class B Notes 34,650.00
(B) The amount of the distribution set
forth in paragraph A.1 (A) above in
respect of interest on:
Class A-1 Notes 172,457.36
Class A-2 Notes 198,250.00
Class A-3 Notes 394,250.00
Class A-4 Notes 172,741.67
Class B Notes 34,650.00
(C) The amount of the distribution set
forth in paragraph A.1 (A) above in
respect of principal on:
Class A-1 Notes 18,570,851.24
Class A-2 Notes (0.00)
Class A-3 Notes -
Class A-4 Notes -
Class B Notes -
MONTHLY NOTEHOLDERS STATEMENT
M&I AUTO LOAN TRUST 2002-1
Class A1 1.77% Asset Backed Notes
Class A2 1.95% Asset Backed Notes
Class A3 2.49% Asset Backed Notes
Class A4 3.04% Asset Backed Notes
Class B 3.52% Asset Backed Notes
DISTRIBUTION DATE: December 20, 2002
MONTHLY PERIOD: November, 2002
(D) The amount of the distribution set
forth in paragraph A.1 (A) above
per $1,000 interest in:
Class A-1 Notes 140.92713233
Class A-2 Notes 1.62500000
Class A-3 Notes 2.07500000
Class A-4 Notes 2.53333338
Class B Notes 2.93333333
(E) The amount of the distribution set
forth in paragraph A.1 (B) above
per $1,000 interest in:
Class A-1 Notes 1.29667188
Class A-2 Notes 1.62500000
Class A-3 Notes 2.07500000
Class A-4 Notes 2.53333338
Class B Notes 2.93333333
(F) The amount of the distribution set
forth in paragraph A.1 (C) above
per $1,000 interest in:
Class A-1 Notes 139.63046045
Class A-2 Notes (0.00000000)
Class A-3 Notes -
Class A-4 Notes -
Class B Notes -
B. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
1. Pool Balance and Note Principal Balance
(A) The Pool Balance at the close of
business on the last day of the
Monthly Period:
493,088,215.55
MONTHLY NOTEHOLDERS STATEMENT
M&I AUTO LOAN TRUST 2002-1
Class A1 1.77% Asset Backed Notes
Class A2 1.95% Asset Backed Notes
Class A3 2.49% Asset Backed Notes
Class A4 3.04% Asset Backed Notes
Class B 3.52% Asset Backed Notes
DISTRIBUTION DATE: December 20, 2002
MONTHLY PERIOD: November, 2002
(B) The aggregate outstanding principal
amount of each Class of Notes after
giving effect to payments allocated
to principal as set forth in
paragraph A.1 (C) above with respect
to:
Class A-1 Notes 98,349,390.73
Class A-2 Notes 122,000,000.00
Class A-3 Notes 190,000,000.00
Class A-4 Notes 68,187,500.00
Class B Notes 11,812,500.00
(C) The Note Pool Factor for each Class
of Notes after giving affect to the
payments set forth in paragraph A.1
(C) above with respect to:
Class A-1 Notes 0.73946910
Class A-2 Notes 1.00000000
Class A-3 Notes 1.00000000
Class A-4 Notes 1.00000000
Class B Notes 1.00000000
(D) The amount of aggregate Realized
Losses for the preceding Monthly
Period: (818.50)
(E) The aggregate Purchase Amount for
all Receivables that were
repurchased in the Monthly Period: -
2. Servicing Fee
The aggregate amount of the
Servicing Fee paid to the Servicer
with respect to the preceding
Monthly Period 173,971.01
3. Payment Shortfalls
(A) The amount of the Noteholders'
Interest Carryover Shortfall after
giving effect to the payments set
forth in paragraph A.1 (B) above
with respect to:
Class A-1 Notes -
Class A-2 Notes -
Class A-3 Notes -
Class A-4 Notes -
Class B Notes -
MONTHLY NOTEHOLDERS STATEMENT
M&I AUTO LOAN TRUST 2002-1
Class A1 1.77% Asset Backed Notes
Class A2 1.95% Asset Backed Notes
Class A3 2.49% Asset Backed Notes
Class A4 3.04% Asset Backed Notes
Class B 3.52% Asset Backed Notes
DISTRIBUTION DATE: December 20, 2002
MONTHLY PERIOD: November, 2002
(B) The amount of the Noteholders' Interest
Carryover Shortfall set forth in paragraph
3(A) above per $1,000 interest with respect
to:
Class A-1 Notes -
Class A-2 Notes -
Class A-3 Notes -
Class A-4 Notes -
Class B Notes -
4
(A) The aggregate amount of collections by the
Servicer during the preceding Monthly
Period: 19,416,613.69
(B) The aggregate amount which was received
by the Trust from the Servicer during the
Monthly Period: 19,242,642.68
(C) The number of Receivables that are delinquent
for:
30-59 days 82
60-89 days 14
90 or more days -
Repossessed Autos in Inventory -
M&I Auto Loan Trust 2002-1 Page 1
Monthly Servicing Report
Distribution Date December 20, 2002 Closing Date: October 10, 2002
Collection Period Begin Date: November 1, 2002 Previous Distribution Date: November 20, 2002
Collection Period End Date: November 30, 2002 Previous Collection Period End Date: October 31, 2002
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A. Initial Bond Characteristics Cutoff Balance Coupon Accrual Calendar Legal Final Maturity CUSIP
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I. Class A-1 Notes $ 133,000,000.00 1.770% Actual/360 October 20, 2003 55255PAF7
ii Class A-2 Notes $ 122,000,000.00 1.950% 30/360 July 20, 2005 55255PAG5
iii Class A-3 Notes $ 190,000,000.00 2.490% 30/360 October 22, 2007 55255PAH3
iv Class A-4 Notes $ 68,187,500.00 3.040% 30/360 October 20, 2008 55255PAJ9
v Class B Notes $ 11,812,500.00 3.520% 30/360 September 21, 2009 55255PAK6
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B. Bond Balances Balance as of % of Original Balance Unpaid Interest Unpaid Interest
11/20/2002 12/20/2002 11/20/2002 12/20/2002 11/20/2002 12/20/2002
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I. Class A-1 Notes $ 116,920,241.97 $ 98,349,390.73 87.91% 73.95% - -
ii Class A-2 Notes $ 122,000,000.00 $ 122,000,000.00 100.00% 100.00% - -
iii Class A-3 Notes $ 190,000,000.00 $ 190,000,000.00 100.00% 100.00% - -
iv Class A-4 Notes $ 68,187,500.00 $ 68,187,500.00 100.00% 100.00% - -
v Class B Notes $ 11,812,500.00 $ 11,812,500.00 100.00% 100.00% - -
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M&I Auto Loan Trust 2002-1 Page 2
Monthly Servicing Report
Distribution Date December 20, 2002 Closing Date: October 10, 2002
Collection Period Begin Date: November 1, 2002 Previous Distribution Date: November 20, 2002
Collection Period End Date: November 30, 2002 Previous Collection Period End Date: October 31, 2002
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C. Reserve Account
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I. Initial Reserve Deposit $2,431,305.00
ii Reserve Account Deposits for Prefunding $461,088.44
iii Beginning of Period Reserve Balance (Including Prefunding Deposits) $2,892,393.44
iv Specified Reserve Account Percent 0.50% of Aggregate Loans Purchased
v Specified Reserve Account Floor $0.00
vi Specified Reserve Account Balance $2,624,940.86
vii Reserve Account Release $267,452.58
viii Reserve Account Draws $0.00
ix Reserve Account Deposits $0.00
x End of Period Reserve Balance $2,624,940.86
xi Outstanding Simple Interest Advances $66,050.92
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D. Pre-Funding Account
- ------------------------------------------------------------------------------------------------------
I. Pre-Funding Amount % 17.57%
ii Pre-Funding Transfer Amount $92,217,688.56
iii Pre-Funding Account Balance $11,827.76
iv Investment Earnings and Income on funds in deposit $51,594.02
in the Pre-Funding Account during the collection period
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E. Servicing
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I. Servicing Fee Percentage 0.50%
ii Beginning of Period Servicing Shortfall 0.00
iii End of Period Servicing Shortfall 0.00
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M&I Auto Loan Trust 2002-1 Page 3
Monthly Servicing Report
Distribution Date December 20, 2002 Closing Date: October 10, 2002
Collection Period Begin Date: November 1, 2002 Previous Distribution Date: November 20, 2002
Collection Period End Date: November 30, 2002 Previous Collection Period End Date: October 31, 2002
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F. Portfolio Characteristics Initial Balance Balance as of % of Original as of
10/04/2002 10/31/2002 11/30/2002 10/31/2002 11/30/2002
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I. Principal Balance $432,770,483.68 $417,530,429.67 $493,088,215.55 96.48% 113.94%
ii Number of Contracts 32,439 31,837 36,863 98.14% 113.64%
iii Weighted Average Coupon (WAC) 7.32% 7.32% 7.22%
iv Weighted Average Original Term 59.64 59.64 59.71
v Weighted Average Remaining Term 50.24 49.47 50.32
vi Weighted Average Seasoning 9.40 10.17 9.40
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M&I Auto Loan Trust 2002-1 Page 4
Monthly Servicing Report
Distribution Date December 20, 2002 Closing Date: August 30, 2001
Collection Period Begin Date: November 1, 2002 Previous Distribution Date: November 20, 2002
Collection Period End Date: November 30, 2002 Previous Collection Period End Date: October 31, 2002
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G.1 Portfolio Performance # of Contracts % of # of Contracts Principal Balance
10/31/2002 11/30/2002 10/31/2002 11/30/2002 10/31/2002
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I. 30-59 Days Delinquent 49 82 0.15% 0.22% 538,326.55
ii 60-89 Days Delinquent 0 14 0.00% 0.04% 0.00
iii 90-119 Days Delinquent 0 0 0.00% 0.00% 0.00
iv 120+ Days Delinquent 0 0 0.00% 0.00% 0.00
v Repo in Inventory (Charged-Off) 0 0 0.00% 0.00% 0.00
vi Repo in Inventory (Not Charged-Off) 0 0 0.00% 0.00% 0.00
vii Gross Charge-Offs in Period 0 0 0.00% 0.00% 0.00
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G.1 Portfolio Performance % of Principal Balance
11/30/2002 10/31/2002 11/30/2002
- ---------------------------------------------------------------------------------------------------------------
I. 30-59 Days Delinquent 875,827.42 0.13% 0.18%
ii 60-89 Days Delinquent 185,681.82 0.00% 0.04%
iii 90-119 Days Delinquent 0.00 0.00% 0.00%
iv 120+ Days Delinquent 0.00 0.00% 0.00%
v Repo in Inventory (Charged-Off) 0.00 0.00% 0.00%
vi Repo in Inventory (Not Charged-Off) 0.00 0.00% 0.00%
vii Gross Charge-Offs in Period 0.00 0.00% 0.00%
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G.2 Ratios Ratio
10/04/2002 10/31/2002 11/30/2002 3 Month Average
- --------------------------------------------------------------------------------------------------------------------
I. Net Loss Ratio 0.00% 0.00% 0.00% 0.00%
ii Delinquency Ratio 0.00% 0.00% 0.04% 0.01%
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H. Portfolio Charge-Offs Dollar Amount % of Original Balance
10/31/2002 11/30/2002 10/31/2002 11/30/2002
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I. Gross Charge-Offs in Period $ 0.00 $ 0.00 0.000% 0.000%
ii Cumulative Gross Charge-Offs $ 0.00 $ 0.00 0.000% 0.000%
iii Net Losses in Period ($207.06) ($818.50) 0.000% 0.000%
iv Cumulative Net Losses ($207.06) ($1,025.56) 0.000% 0.000%
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M&I Auto Loan Trust 2002-1 Page 5
Monthly Servicing Report
Distribution Date December 20, 2002 Closing Date: October 10, 2002
Collection Period Begin Date: November 1, 2002 Previous Distribution Date: November 20, 2002
Collection Period End Date: November 30, 2002 Previous Collection Period End Date: October 31, 2002
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I. Pool Collections
- --------------------------------------------------------------------------------------------------------------
I. Borrower Interest Collections 2,689,841.59
ii Borrower Principal Collections 16,659,902.68
iii Net Liquidation Proceeds -
iv Recoveries 818.50
v Simple Interest Advance 66,050.92
vi Repurchase Amounts (Interest) -
vii Repurchase Amounts (Principal) -
viii. Total Interest Collections 2,755,892.51
ix Total Principal Collections $16,660,721.18
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J. Pool Balance Reconciliation
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I. Beginning Pool Balance 417,530,429.67
ii Additional Fundings 92,217,688.56
iii Pool Balance Reductions from Principal Collections 16,659,902.68
iv Gross Charge-Offs in Period -
v Ending Pool Balance 493,088,215.55
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K. Total Available
- --------------------------------------------------------------------------------------------------------------
I. Total Pool Collections 19,416,613.69
ii Pre-Funding Account Income 51,594.02
iii Pre-Funding Account Release 11,827.76
Reserve Account Balance 2,892,393.44 -
Specified Reserve Account Amount 2,624,940.86 -
-------------
iv Reserve Account Release 267,452.58 267,452.58
v Reserve Account Draw -
vi Collected Funds 19,747,488.05
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M&I Auto Loan Trust 2002-1 Page 6
Monthly Servicing Report
Distribution Date December 20, 2002 Closing Date: October 10, 2002
Collection Period Begin Date: November 1, 2002 Previous Distribution Date: November 20, 2002
Collection Period End Date: November 30, 2002 Previous Collection Period End Date: October 31, 2002
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L. Waterfall Calculation Steps Amount Due Amount Available Amount
for Distribution Paid
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I. Reimbursement of Outstanding Simple Interest Advances $ 0.00 $ 30,316.77 19,747,488.05 30,316.77
Servicing Fee 173,971.01
Previous Servicing Fee Shortfall 0.00
===============
ii Total Servicing Fee $ 173,971.01 $ 173,971.01 19,717,171.28 173,971.01
iii Class A Notes Interest Distribution 937,699.03 19,543,200.27 937,699.03
iv Class B Notes Interest Distribution $ 0.00 34,650.00 18,605,501.24 34,650.00
v Reserve Fund Deposit $ 0.00 $ 0.00 18,570,851.24 -
b) Previous Note Balance - Pool Balance $ 15,832,026.42 $ 0.00 - -
X.) MAX of a) and b) $116,920,241.97 $ 0.00 - -
Y.) Priority Principal Distribution Amount $ 0.00 $ 0.00 - -
===============
vi Regular Principal Distribution $116,920,241.97 116,920,241.97 18,570,851.24 18,570,851.24
vii Release to Seller - - -
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M&I Auto Loan Trust 2002-1 Page 7
Monthly Servicing Report
Distribution Date December 20, 2002 Closing Date: October 10, 2002
Collection Period Begin Date: November 1, 2002 Previous Distribution Date: November 20, 2002
Collection Period End Date: November 30, 2002 Previous Collection Period End Date: October 31, 2002
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M. Bond Interest Distributions Coupon Number of Days Current Interest Previous Interest Shortfall
in Pay Period
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Total Class A Notes $937,699.03 0.00
Class A-1 Notes 1.770% 30 $172,457.36 0.00
Class A-2 Notes 1.950% 30 $198,250.00 0.00
Class A-3 Notes 2.490% 30 $394,250.00 0.00
Class A-4 Notes 3.040% 30 $172,741.67 0.00
Class B Notes 3.520% 30 $ 34,650.00 0.00
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M. Bond Interest Distributions Accrued Interest Total Bond Total Bond Interest Shortfall
on Interest Interest Due Interest Paid
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Total Class A Notes 0.00 937,699.03 937,699.03 0.00
Class A-1 Notes 0.00 172,457.36 172,457.36 0.00
Class A-2 Notes 0.00 198,250.00 198,250.00 0.00
Class A-3 Notes 0.00 394,250.00 394,250.00 0.00
Class A-4 Notes 0.00 172,741.67 172,741.67 0.00
Class B Notes 0.00 34,650.00 34,650.00 0.00
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N. Bond Principal Distributions
- ------------------------------------------------------------------------------------------------------------------------------------
Priority Principal Distribution -
Regular Principal Distribution 18,570,851.24
===============
Total Principal Distribution 18,570,851.24
0
Class A-1 Notes Principal Distribution 18,570,851.24
Class A-2 Notes Principal Distribution 0.00
Class A-3 Notes Principal Distribution 0.00
Class A-4 Notes Principal Distribution 0.00
Class B Notes Principal Distribution 0.00
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