SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 27, 2000
NAVISTAR FINANCIAL SECURITIES CORPORATION ON BEHALF OF
NAVISTAR FINANCIAL DEALER NOTE MASTER TRUST
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
33-87374 36-3731520
(Commission File Number) (IRS Employer Identification No.)
2850 West Golf Road, Rolling Meadows, Illinois 60008
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (847) 734-4000
<PAGE>
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events.
On November 25, 2000, Registrant made available the Monthly
Servicer and Settlement Certificates for the Due Period ended
October 31, 2000, which are attached as Exhibit 20 hereto.
Item 7. Financial Statements and Exhibits.
(c) Exhibits:
See attached Exhibit Index.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
NAVISTAR FINANCIAL SECURITIES CORPORATION on behalf of
NAVISTAR FINANCIAL DEALER NOTE MASTER TRUST
(Registrant)
Date December 4, 2000 By: /s/ R. D. Markle
R. D. Markle
Vice President and Controller
<PAGE>
FORM 8-K
EXHIBIT INDEX
Exhibit
Number Description
20.1 Monthly Servicer and Settlement Certificate #63, Series 1995-1
dated November 25, 2000
20.2 Monthly Servicer and Settlement Certificate #37, Series 1997-1
dated November 25, 2000
20.3 Monthly Servicer and Settlement Certificate #29, Series 1998-1
dated November 25, 2000
20.4 Monthly Servicer and Settlement Certificate #4, Series 2000-1
dated November 25, 2000
<PAGE>
Exhibit 20.1
Page 1 of 6
MONTHLY SERVICER AND SETTLEMENT CERTIFICATE #63
DEALER NOTE MASTER TRUST
CLASS A, DEALER NOTE
ASSET BACKED CERTIFICATES
SERIES 1995-1
Under the Series 1995-1 Supplement dated as of June 8, 1995 (the
"Supplement") by and among Navistar Financial Corporation, ("NFC"),
Navistar Financial Securities Corporation ("NFSC") and The Bank of New
York, as trustee (the "Master Trust Trustee") to the Pooling and Servicing
Agreement dated as of June 8, 1995 (as amended and supplemented, the
"Agreement") by and among NFC, NFSC, the Master Trust Trustee and The Chase
Manhattan Bank, as 1990 Trust Trustee, the Master Trust Trustee is required
to prepare certain information each month regarding current distributions
to certain accounts and payments to Series 1995-1 Certificateholders as
well as the performance of the Master Trust during the previous month. The
information which is required to be prepared with respect to the
Distribution Date of November 27, 2000, the Transfer Date of November 22,
2000 and with respect to the performance of the Master Trust during the Due
Period ended on October 31, 2000 and the Distribution Period ended
November 25, 2000 is set forth below. Certain of the information is
presented on the basis of an original principal amount of $1,000 per
Investor Certificate. Certain other information is presented based on the
aggregate amounts for the Master Trust as a whole. Capitalized terms used
but not otherwise defined herein shall have the meanings assigned to such
terms in the Agreement and the Supplement.
1. NFC is Servicer under the Agreement.
2. The undersigned is a Servicing Officer
3. Master Trust Information:
3.1 The amount of the Advance, if any, for the Due 517,689.41
Period
3.2 The amount of NITC Finance Charges for the Due 3,934,930.20
Period
3.3 The average daily balance of Dealer Notes 1,054,016,269.32
outstanding during the Due Period
3.4 The total amount of Advance Reimbursements for 0.00
the Due Period
3.5 The aggregate principal amount of Dealer Notes 305,442,626.60
repaid during the Due Period.
3.6 The aggregate principal amount of Dealer Notes 292,452,257.39
purchased by the Master Trust during the Due
Period.
3.7 The amount of the Servicing Fee for the Due 873,079.51
Period.
3.8 The average daily Master Trust Seller's 164,670,460.94
Interest during the Due Period.
<PAGE>
Exhibit 20.1
Page 2 of 6
3.9 The Master Trust Seller's Interest as of the 164,670,460.94
Distribution Date (after giving effect to the
transactions set forth in Article IV of the
Supplement).
3.10 The aggregate amount of Collections for the 369,157,675.25
Due Period.
3.11 The aggregate amount of Finance Charge 9,505,048.52
Collections for the Due Period.
3.12 The aggregate amount of Principal Collections 359,652,626.73
for the Due Period.
3.13 The amount of Dealer Note Losses for the Due 0.00
Period.
3.14 The aggregate amount of Dealer Notes as of the 1,047,695,394.17
last day of the Due Period.
3.15 The aggregate amount of funds on deposit in 54,210,000.13
the Excess Funding Account as of the end of
the last day of the Due Period (after giving
effect to the transactions set forth in
Article IV of the Supplement and Article IV of
the Agreement.
3.16 Eligible Investments in the Excess Funding
Account:
a. The aggregate amount of funds invested in 0.00
Eligible Investments.
b. Description of each Eligible Investment. 0.00
c. The rate of interest applicable to each 0.00%
such Eligible Investment.
d. The rating of each such Eligible Investment 0.00
3.17 The aggregate amount of Dealer Notes issued 12,488,453.52
to finance OEM Vehicles, as of the end of the
Due Period.
3.18 The Dealers with the five largest aggregate
outstanding principal amounts of Dealer Notes
in the Master Trust as of the end of the Due
Period.
i) Southwest International Trucks Inc
ii) Southland International Trucks
iii) Longhorn International Trucks Ltd.
iv) Freund Equipment Inc.
v) Nalley Motor Trucks
3.19 Aggregate amount of delinquent principal 1.11%
payments (past due greater than 30 days) as a
percentage of the total principal amount
outstanding, as of the end of the Due Period.
<PAGE>
Exhibit 20.1
Page 3 of 6
4.0 Series 1995-1 Information
4.1 The Deficiency Amount as of the Transfer Date 0.00
(after giving effect to the transactions set
forth in Article IV of the Supplement).
4.2a The Maximum Subordinated Amount as of the 31,000,000.00
Transfer Date (after giving effect to the
transactions set forth in Article IV of the
Supplement).
4.2b The Available Subordinated Amount as of the 31,000,000.00
Transfer Date (after giving effect to the
transactions set forth in Article IV of the
Supplement)
4.3 The Projected Spread for the following 2,500,000.00
Distribution Period.
4.4 The amount on deposit in the Spread Account as 2,500,000.00
of the Transfer Date (after giving effect to
the transactions set forth in Article IV of
the Supplement).
4.5 The aggregate amount on deposit in the 0.00
Liquidity Reserve Account as of the
Transfer Date (after giving effect to the
transactions set forth in Article IV of the
Supplement.
4.6 The aggregate amount on deposit in the 0.00
Negative Carry Reserve Fund as of the Transfer
Date (after giving effect to the transactions
set forth in Article IV of the Supplement).
4.7 The Invested Amount as of the Distribution 200,000,000.00
Date (after giving effect to the transactions
set forth in Article IV of the Supplement and
to the payments made on the Distribution Date).
4.8 The amount of Series Allocable Dealer Notes 0.00
Losses for the Due Period.
4.9 The amount of Series Allocable Finance Charge 2,087,308.65
Collections for the Due Period.
4.10 The amount of Series Allocable Principal 78,979,716.83
Collections for the Due Period.
4.11 The amount of Series Principal Account Losses 0.00
for the Due Period.
4.12 The amount of Investor Dealer Note Losses for 0.00
the Due Period.
4.13 The amount of Investor Finance Charge 1,725,160.60
Collections for the Due Period.
<PAGE>
Exhibit 20.1
Page 4 of 6
4.14 The amount of Investor Principal Collections 65,276,735.96
for the Due Period.
4.15 The amount of Available Certificateholder's 1,793,815.13
Interest Collections for the Due Period.
4.16 The amount of Series 1995-1 Shared Principal 65,276,735.96
Collections for the Due Period.
4.17 The aggregate amount of the Series 1995-1 0.00
Principal Shortfall, if any, for the Due
Period.
4.18 The Seller's Percentage for the Due Period. 17.35%
4.19 The Excess Seller's Percentage for the Due 2.61%
Period.
4.20 The aggregate amount of Seller's Principal 13,702,980.87
Collections for the Due Period.
4.21 The amount of Available Seller's Finance 370,288.56
Charge Collections for the Due Period.
4.22 The aggregate amount of Available Seller's 11,641,610.26
Principal Collections for the Due Period.
4.23 The aggregate amount of Excess Seller's 2,061,370.61
Principal Collections for the Due Period
4.24 The Controlled Amortization Amount, if 0.00
applicable, for the Due Period.
4.25 The Minimum Series 1995-1 Master Trust 41,664,214.84
Seller's Interest as of the Distribution Date
(after giving effect to the transactions set
forth in Article IV of the Supplement).
4.26 The Series 1995-1 Allocation Percentage for 21.96%
the Due Period.
4.27 The Floating Allocation Percentage for the Due 82.65%
Period.
4.28 The Principal Allocation Percentage, if 0.00%
applicable, for the Due Period.
4.29 The total amount to be distributed on the 1,426,900.91
Series 1995-1 Certificates on the Distribution
Date.
4.30 The total amount, if any, to be distributed on 0.00
the Series 1995-1 Certificates on the
Distribution Date allocable to the Invested
Amount.
<PAGE>
Exhibit 20.1
Page 5 of 6
4.31 The total amount, if any, to be distributed 1,268,437.50
on the Series 1995-1 Certificates on the
Distribution Date allocable to interest on
the Series 1995-1 Certificates.
4.32 The Draw Amount as of the Transfer Date. 0.00
4.33 The amount of Investor Charge-Offs as of the 0.00
Transfer Date.
4.34 The amount of reimbursement of Investor 0.00
Charge-Offs as of the Transfer Date.
4.35 The amount of the Investor Servicing Fee to be 158,463.41
paid on such Distribution Date.
4.36 The aggregate amount of funds on deposit in 0.00
the Negative Carry Reserve Account as of the
end of the last day of the Due Period (after
giving effect to the payments and adjustments
made pursuant to Article IV of the Supplement
and of the Agreement).
4.37 The aggregate amount of funds on deposit in 0.00
the Series Principal Account as of the end of
the last day of the Due Period (after giving
effect to the payments and adjustments made
pursuant to Article IV of the Supplement and
of the Agreement).
4.38 The aggregate amount of funds on deposit in 2,500,000.00
the Spread Account as of the end of the last
day of the Due Period (after giving effect to
payments and adjustments made pursuant to
Article IV of the Supplement and the
Agreement).
4.39 Eligible Investments in the Series Principal
Account:
a. The aggregate amount of funds invested in 0.00
Eligible Investments.
b. Description of each Eligible Investment: NA
c. The rate of interest applicable to each _______%
such Eligible Investment.
d. The rating of each such Eligible NA
Investment.
4.40 Eligible Investments in the Liquidity Reserve
Account:
a. The aggregate amount of funds invested in 0.00
Eligible Investments.
b. Description of each Eligible Investment: NA
<PAGE>
Exhibit 20.1
Page 6 of 6
c. The rate of interest applicable to each _______%
such Eligible Investment.
d. The rating of each such Eligible NA
Investment.
4.41 The amount of Excess Interest Collections for 366,914.22
the Due Period.
4.42 The amount of Investor Principal Collections 65,276,735.96
treated as Shared Principal Collections for
the Due Period.
4.43 The amount of Excess Interest Collections for 0.00
the Due Period allocated to other Series.
4.44 The amount of Investor Principal Collections 0.00
treated as Shared Principal Collections for
the Due Period allocated to Other Series.
4.45 The percentages and all other information NA
calculated pursuant to Sections 6.01 and 7.01
of the Supplement.
4.46 The amount of Remaining Available Seller's 0.00
Principal Collections for the Due Period.
4.47 The amount of Series 1995-1 Shared Seller's 13,702,980.87
Principal Collections for the Due Period.
4.48 The aggregate amount of Shared Seller's 0.00
Principal Collections from Other Series for
the Due Period.
4.49 The amount of all Shared Seller's Principal 0.00
Collections allocated to Series 1995-1 for the
Due Period.
4.50 The aggregate amount of all Shared Seller's 0.00
Principal Collections allocated to Other
Series for the Due Period.
4.51 The aggregate amount of all Early Distribution 0.00
Amounts paid or deemed paid for the
Distribution Period.
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
certificate this 13th day of October 2000.
NAVISTAR FINANCIAL CORPORATION,
As Servicer
By: R. Wayne Cain
Vice President & Treasurer
<PAGE>
Exhibit 20.2
Page 1 of 6
MONTHLY SERVICER AND SETTLEMENT CERTIFICATE #37
DEALER NOTE MASTER TRUST
CLASS A, DEALER NOTE
ASSET BACKED CERTIFICATES
SERIES 1997-1
Under the Series 1997-1 Supplement dated as of August 19, 1997 (the
"Supplement") by and among Navistar Financial Corporation, ("NFC"), Navistar
Financial Securities Corporation ("NFSC") and The Bank of New York, as trustee
(the "Master Trust Trustee") to the Pooling and Servicing Agreement dated as of
June 8, 1995 (as amended and supplemented, the "Agreement") by and among NFC,
NFSC, the Master Trust Trustee and The Chase Manhattan Bank, as 1990 Trust
Trustee, the Master Trust Trustee is required to prepare certain information
each month regarding current distributions to certain accounts and payments to
Series 1997-1 Certificateholders as well as the performance of the Master Trust
during the previous month. The information which is required to be prepared with
respect to the Distribution Date of November 27, 2000, the Transfer Date of
November 22, 2000 and with respect to the performance of the Master Trust during
the Due Period ended on October 31, 2000 and the Distribution Period ended
November 25, 2000 is set forth below. Certain of the information is presented on
the basis of an original principal amount of $1,000 per Investor Certificate.
Certain other information is presented based on the aggregate amounts for the
Master Trust as a whole. Capitalized terms used but not otherwise defined herein
shall have the meanings assigned to such terms in the Agreement and the
Supplement.
1. NFC is Servicer under the Agreement.
2. The undersigned is a Servicing Officer
3. Master Trust Information:
3.1 The amount of the Advance, if any, for the Due 517,689.41
Period
3.2 The amount of NITC Finance Charges for the Due 3,934,930.20
Period
3.3 The average daily balance of Dealer Notes 1,054,016,269.32
outstanding during the Due Period
3.4 The total amount of Advance Reimbursements for 0.00
the Due Period
3.5 The aggregate principal amount of Dealer Notes 305,442,626.60
repaid during the Due Period.
3.6 The aggregate principal amount of Dealer Notes 292,452,257.39
purchased by the Master Trust during the Due
Period.
3.7 The amount of the Servicing Fee for the Due 873,079.51
Period.
<PAGE>
Exhibit 20.2
Page 2 of 6
3.8 The average daily Master Trust Seller's 164,670,460.94
Interest during the Due Period.
3.9 The Master Trust Seller's Interest as of the 164,670,460.94
Distribution Date (after giving effect to the
transactions set forth in Article IV of the
Supplement).
3.10 The aggregate amount of Collections for the 369,157,675.25
Due Period.
3.11 The aggregate amount of Finance Charge 9,505,048.52
Collections for the Due Period.
3.12 The aggregate amount of Principal Collections 359,652,626.73
for the Due Period.
3.13 The amount of Dealer Note Losses for the Due 0.00
Period.
3.14 The aggregate amount of Dealer Notes as of the 1,047,695,394.17
last day of the Due Period.
3.15 The aggregate amount of funds on deposit in 54,210,000.13
the Excess Funding Account as of the end of
the last day of the Due Period (after giving
effect to the transactions set forth in
Article IV of the Supplement and Article IV of
the Agreement.
3.16 Eligible Investments in the Excess Funding
Account:
a. The aggregate amount of funds invested in 0.00
Eligible Investments.
b. Description of each Eligible Investment. 0.00
c. The rate of interest applicable to each 0.00%
such Eligible Investment.
d. The rating of each such Eligible Investment 0.00
3.17 The aggregate amount of Dealer Notes issued 12,488,453.52
to finance OEM Vehicles, as of the end of
the Due Period.
3.18 The Dealers with the five largest aggregate
outstanding principal amounts of Dealer Notes
in the Master Trust as of the end of the Due
Period.
i) Southwest Intl Trks Inc
ii) Southland Intl Trks
iii) Longhorn Intl Trks Ltd
iv) Freund Equip Inc
v) Nalley Motor Trucks
<PAGE>
Exhibit 20.2
Page 3 of 6
3.19 Aggregate amount of delinquent principal 1.11%
payments (past due greater than 30 days) as a
percentage of the total principal amount
outstanding, as of the end of the Due Period.
4.0 Series 1997-1 Information
4.1 The Deficiency Amount as of the Transfer Date 0.00
(after giving effect to the transactions set
forth in Article IV of the Supplement).
4.2a The Maximum Subordinated Amount as of the 31,000,000.00
Transfer Date (after giving effect to the
transactions set forth in Article IV of the
Supplement).
4.2b The Available Subordinated Amount as of the 31,000,000.00
Transfer Date (after giving effect to the
transactions set forth in Article IV of the
Supplement)
4.3 The Projected Spread for the following 2,500,000.00
Distribution Period.
4.4 The amount on deposit in the Spread Account 2,500,000.00
as of the Transfer Date (after giving effect
to the transactions set forth in Article IV
of the Supplement).
4.5 The aggregate amount on deposit in the 0.00
Liquidity Reserve Account as of the Transfer
Date (after giving effect to the transactions
set forth in Article IV of the Supplement.
4.6 The Invested Amount as of the Distribution 200,000,000.00
Date (after giving effect to the transactions
set forth in Article IV of the Supplement and
to the payments made on the Distribution
Date).
4.7 The amount of Series Allocable Dealer Notes 0.00
Losses for the Due Period.
4.8 The amount of Series Allocable Finance Charge 2,046,436.95
Collections for the Due Period.
4.9 The amount of Series Allocable Principal 77,433,210.53
Collections for the Due Period.
4.10 The amount of Series Principal Account Losses 0.00
for the Due Period.
4.11 The amount of Investor Dealer Note Losses for 0.00
the Due Period.
4.12 The amount of Investor Finance Charge 1,725,146.35
Collections for the Due Period.
<PAGE>
Exhibit 20.2
Page 4 of 6
4.13 The amount of Investor Principal Collections 65,276,196.48
for the Due Period.
4.14 The amount of Available Certificateholder's 1,792,707.77
Interest Collections for the Due Period.
4.15 The amount of Series 1997-1 Shared Principal 65,276,196.48
Collections for the Due Period.
4.16 The aggregate amount of the Series 1997-1 0.00
Principal Shortfall, if any, for the Due
Period.
4.17 The Seller's Percentage for the Due Period. 15.70%
4.18 The Excess Seller's Percentage for the Due 2.63%
Period.
4.19 The aggregate amount of Seller's Principal 12,157,014.05
Collections for the Due Period.
4.20 The amount of Available Seller's Finance 328,862.42
Charge Collections for the Due Period.
4.21 The aggregate amount of Available Seller's 10,120,520.62
Principal Collections for the Due Period.
4.22 The aggregate amount of Excess Seller's 2,063,493.44
Principal Collections for the Due Period
4.23 The Controlled Amortization Amount, if 0.00
applicable, for the Due Period.
4.24 The Minimum Series 1997-1 Master Trust 37,000,000.00
Seller's Interest as of the Distribution Date
(after giving effect to the transactions set
forth in Article IV of the Supplement).
4.25 The Series 1997-1 Allocation Percentage for 21.53%
the Due Period.
4.26 The Floating Allocation Percentage for the 84.30%
Due Period.
4.27 The Principal Allocation Percentage, if 0.00%
applicable, for the Due Period.
4.28 The total amount, if any, to be distributed 1,399,399.60
on the Series 1997-1 Certificates on the
Distribution Date.
4.29 The total amount, if any, to be distributed 0.00
on the Series 1997-1 Certificates on the
Distribution Date allocable to the Invested
Amount.
4.30 The total amount, if any, to be distributed 1,240,937.50
on the Series 1997-1 Certificates on the
Distribution Date allocable to interest on
the Series 1997-1 Certificates.
<PAGE>
Exhibit 20.2
Page 5 of 6
4.31 The Draw Amount as of the Transfer Date. 0.00
4.32 The amount of Investor Charge-Offs as of the 0.00
Transfer Date.
4.33 The amount of reimbursement of Investor 0.00
Charge-Offs as of the Transfer Date.
4.34 The amount of the Investor Servicing Fee to 158,462.10
be paid on such Distribution Date.
4.35 The aggregate amount of funds on deposit in 0.00
the Series Principal Account as of the end of
the last day of the Due Period (after giving
effect to the payments and adjustments made
pursuant to Article IV of the Supplement and
of the Agreement).
4.36 The aggregate amount of funds on deposit in 2,500,000.00
the Spread Account as of the end of the last
day of the Due Period (after giving effect to
payments and adjustments made pursuant to
Article IV of the Supplement and the
Agreement).
4.37 Eligible Investments in the Series Principal
Account:
a. The aggregate amount of funds invested in 0.00
Eligible Investments.
b. Description of each Eligible Investment: NA
c. The rate of interest applicable to each _______%
such Eligible Investment.
d. The rating of each such Eligible NA
Investment.
4.38 Eligible Investments in the Liquidity Reserve
Account:
a. The aggregate amount of funds invested in 0.00
Eligible Investments.
b. Description of each Eligible Investment: NA
c. The rate of interest applicable to each _______%
such Eligible Investment.
d. The rating of each such Eligible NA
Investment.
4.39 The amount of Excess Interest Collections for 393,308.17
the Due Period.
<PAGE>
Exhibit 20.2
Page 6 of 6
4.40 The amount of Investor Principal Collections 65,276,196.48
treated as Shared Principal Collections for
the Due Period.
4.41 The amount of Excess Interest Collections for 0.00
the Due Period Allocated to other Series.
4.42 The amount of Investor Principal Collections 0.00
treated as Shared Principal Collections for
the Due Period allocated to Other Series.
4.43 The percentages and all other information NA
calculated pursuant to Sections 6.01 of the
Supplement.
4.44 The amount of Remaining Available Seller's 0.00
Principal Collections for the Due Period.
4.45 The amount of Series 1997-1 Shared Seller's 12,157,014.05
Principal Collections for the Due Period.
4.46 The aggregate amount of Shared Seller's 0.00
Principal Collections from Other Series for
the Due Period.
4.47 The amount of all Shared Seller's Principal 0.00
Collections allocated to Series 1997-1 for
the Due Period.
4.48 The aggregate amount of all Shared Seller's 0.00
Principal Collections allocated to Other
Series for the Due Period.
4.49 The aggregate amount of all Early NA
Distribution Amounts paid or deemed paid for
the Distribution Period.
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
certificate this 13th day of October 2000.
NAVISTAR FINANCIAL CORPORATION,
As Servicer
By: R. Wayne Cain
Vice President & Treasurer
<PAGE>
Exhibit 20.3
Page 1 of 6
MONTHLY SERVICER AND SETTLEMENT CERTIFICATE #29
DEALER NOTE MASTER TRUST
CLASS A, DEALER NOTE
ASSET BACKED CERTIFICATES
SERIES 1998-1
Under the Series 1998-1 Supplement dated as of July 17, 1998 (the "Supplement")
by and among Navistar Financial Corporation, ("NFC"), Navistar Financial
Securities Corporation ("NFSC") and The Bank of New York, as trustee (the
"Master Trust Trustee") to the Pooling and Servicing Agreement dated as of June
8, 1995 (as amended and supplemented, the "Agreement") by and among NFC, NFSC,
the Master Trust Trustee and The Chase Manhattan Bank, as 1990 Trust Trustee,
the Master Trust Trustee is required to prepare certain information each month
regarding current distributions to certain accounts and payments to Series
1998-1 Certificateholders as well as the performance of the Master Trust during
the previous month. The information which is required to be prepared with
respect to the Distribution Date of November 27, 2000, the Transfer Date of
November 22, 2000, and with respect to the performance of the Master Trust
during the Due Period ended on October 31, 2000, and the Distribution Period
ended November 25, 2000, is set forth below. Certain of the information is
presented on the basis of an original principal amount of $1,000 per Investor
Certificate. Certain other information is presented based on the aggregate
amounts for the Master Trust as a whole. Capitalized terms used but not
otherwise defined herein shall have the meanings assigned to such terms
in the Agreement and the Supplement.
1. NFC is Servicer under the Agreement.
2. The undersigned is a Servicing Officer
3. Master Trust Information:
3.1 The amount of the Advance, if any, for the Due 517,689.41
Period
3.2 The amount of NITC Finance Charges for the Due 3,934,930.20
Period
3.3 The average daily balance of Dealer Notes 1,054,016,269.32
outstanding during the Due Period
3.4 The total amount of Advance Reimbursements for 0.00
the Due Period
3.5 The aggregate principal amount of Dealer Notes 305,442,626.60
repaid during the Due Period.
3.6 The aggregate principal amount of Dealer Notes 292,452,257.39
purchased by the Master Trust during the Due
Period.
3.7 The amount of the Servicing Fee for the Due 873,079.51
Period.
<PAGE>
Exhibit 20.3
Page 2 of 6
3.8 The average daily Master Trust Seller's 164,670,460.94
Interest during the Due Period.
3.9 The Master Trust Seller's Interest as of the 164,670,460.94
Distribution Date (after giving effect to the
transactions set forth in Article IV of the
Supplement).
3.10 The aggregate amount of Collections for the 369,157,675.25
Due Period.
3.11 The aggregate amount of Finance Charge 9,505,048.52
Collections for the Due Period.
3.12 The aggregate amount of Principal Collections 359,652,626.73
for the Due Period.
3.13 The amount of Dealer Note Losses for the Due 0.00
Period.
3.14 The aggregate amount of Dealer Notes as of the 1,047,695,394.17
last day of the Due Period.
3.15 The aggregate amount of funds on deposit in 54,210,000.13
the Excess Funding Account as of the end of
the last day of the Due Period (after giving
effect to the transactions set forth in
Article IV of the Supplement and Article IV of
the Agreement.
3.16 Eligible Investments in the Excess Funding
Account:
a. The aggregate amount of funds invested in 0.00
Eligible Investments.
b. Description of each Eligible Investment. 0.00
c. The rate of interest applicable to each 0.00%
such Eligible Investment.
d. The rating of each such Eligible Investment 0.00
3.17 The aggregate amount of Dealer Notes issued 12,488,453.52
to finance OEM Vehicles, as of the end of the
Due Period.
3.18 The Dealers with the five largest aggregate
outstanding principal amounts of Dealer Notes
in the Master Trust as of the end of the Due
Period.
i) Southwest Intl Trks Inc
ii) Southland Intl Trks
iii) Longhorn Intl Trks Ltd
iv) Freund Equip Inc
v) Nalley Motor Trucks
<PAGE>
Exhibit 20.3
Page 3 of 6
3.19 Aggregate amount of delinquent principal 1.11%
payments (past due greater than 30 days) as a
percentage of the total principal amount
outstanding, as of the end of the Due Period.
4.0 Series 1998-1 Information
4.1 The Deficiency Amount as of the Transfer Date 0.00
(after giving effect to the transactions set
forth in Article IV of the Supplement).
4.2a The Maximum Subordinated Amount as of the 31,000,000.00
Transfer Date (after giving effect to the
transactions set forth in Article IV of the
Supplement).
4.2b The Available Subordinated Amount as of the 31,000,000.00
Transfer Date (after giving effect to the
transactions set forth in Article IV of the
Supplement)
4.3 The Projected Spread for the following 2,500,000.00
Distribution Period.
4.4 The amount on deposit in the Spread Account as 2,500,000.00
of the Transfer Date (after giving effect to
the transactions set forth in Article IV of
the Supplement).
4.5 The aggregate amount on deposit in the 0.00
Liquidity Reserve Account as of the
Transfer Date (after giving effect to
the transactions set forth in Article IV
of the Supplement.
4.6 The Invested Amount as of the Distribution 200,000,000.00
Date (after giving effect to the transactions
set forth in Article IV of the Supplement and
to the payments made on the Distribution Date).
4.7 The amount of Series Allocable Dealer Notes 0.00
Losses for the Due Period.
4.8 The amount of Series Allocable Finance Charge 2,046,436.95
Collections for the Due Period.
4.9 The amount of Series Allocable Principal 77,433,210.53
Collections for the Due Period.
4.10 The amount of Series Principal Account Losses 0.00
for the Due Period.
4.11 The amount of Investor Dealer Note Losses for 0.00
the Due Period.
4.12 The amount of Investor Finance Charge 1,725,146.35
Collections for the Due Period.
<PAGE>
Exhibit 20.3
Page 4 of 6
4.13 The amount of Investor Principal Collections 65,276,196.48
for the Due Period.
4.14 The amount of Available Certificateholder's 1,792,707.77
Interest Collections for the Due Period.
4.15 The amount of Series 1998-1 Shared Principal 65,276,196.48
Collections for the Due Period.
4.16 The aggregate amount of the Series 1998-1 0.00
Principal Shortfall, if any, for the Due
Period.
4.17 The Seller's Percentage for the Due Period. 15.70%
4.18 The Excess Seller's Percentage for the Due 2.63%
Period.
4.19 The aggregate amount of Seller's Principal 12,157,014.05
Collections for the Due Period.
4.20 The amount of Available Seller's Finance 328,862.42
Charge Collections for the Due Period.
4.21 The aggregate amount of Available Seller's 10,120,520.62
Principal Collections for the Due Period.
4.22 The aggregate amount of Excess Seller's 2,036,493.44
Principal Collections for the Due Period
4.23 The Controlled Amortization Amount, if 0.00
applicable, for the Due Period.
4.24 The Minimum Series 1998-1 Master Trust 37,000,000.00
Seller's Interest as of the Distribution Date
(after giving effect to the transactions set
forth in Article IV of the Supplement).
4.25 The Series 1998-1 Allocation Percentage for 21.53%
the Due Period.
4.26 The Floating Allocation Percentage for the Due 84.30%
Period.
4.27 The Principal Allocation Percentage, if 0.00%
applicable, for the Due Period.
4.28 The total amount, if any, to be distributed on 1,401,232.93
the Series 1998-1 Certificates on the
Distribution Date.
4.29 The total amount, if any, to be distributed on 0.00
the Series 1998-1 Certificates on the
Distribution Date allocable to the Invested
Amount.
4.30 The total amount, if any, to be distributed 1,242,770.83
on the Series 1998-1 Certificates on the
Distribution Date allocable to interest on
the Series 1998-1 Certificates.
<PAGE>
Exhibit 20.3
Page 5 of 6
4.31 The Draw Amount as of the Transfer Date. 0.00
4.32 The amount of Investor Charge-Offs as of the 0.00
Transfer Date.
4.33 The amount of reimbursement of Investor 0.00
Charge-Offs as of the Transfer Date.
4.34 The amount of the Investor Servicing Fee to be 158,462.10
paid on such Distribution Date.
4.35 The aggregate amount of funds on deposit in 0.00
the Series Principal Account as of the end of
the last day of the Due Period (after giving
effect to the payments and adjustments made
pursuant to Article IV of the Supplement and
of the Agreement).
4.36 The aggregate amount of funds on deposit in 2,500,000.00
the Spread Account as of the end of the last
day of the Due Period (after giving effect to
payments and adjustments made pursuant to
Article IV of the Supplement and the
Agreement).
4.37 Eligible Investments in the Series Principal
Account:
a. The aggregate amount of funds invested in 0.00
Eligible Investments.
b. Description of each Eligible Investment: NA
c. The rate of interest applicable to each _______%
such Eligible Investment.
d. The rating of each such Eligible NA
Investment.
4.38 Eligible Investments in the Liquidity Reserve
Account:
a. The aggregate amount of funds invested in 0.00
Eligible Investments.
b. Description of each Eligible Investment: NA
c. The rate of interest applicable to each _______%
such Eligible Investment.
d. The rating of each such Eligible NA
Investment.
4.39 The amount of Excess Interest Collections for 391,474.84
the Due Period.
<PAGE>
Exhibit 20.3
Page 6 of 6
4.40 The amount of Investor Principal Collections 65,276,196.48
treated as Shared Principal Collections for
the Due Period.
4.41 The amount of Excess Interest Collections for 0.00
the Due Period Allocated to other Series.
4.42 The amount of Investor Principal Collections 0.00
treated as Shared Principal Collections for
the Due Period allocated to Other Series.
4.43 The percentages and all other information NA
calculated pursuant to Sections 6.01 of the
Supplement.
4.44 The amount of Remaining Available Seller's 0.00
Principal Collections for the Due Period.
4.45 The amount of Series 1998-1 Shared Seller's 12,157,014.05
Principal Collections for the Due Period.
4.46 The aggregate amount of Shared Seller's 0.00
Principal Collections from Other Series for
the Due Period.
4.47 The amount of all Shared Seller's Principal 0.00
Collections allocated to Series 1998-1 for the
Due Period.
4.48 The aggregate amount of all Shared Seller's 0.00
Principal Collections allocated to Other
Series for the Due Period.
4.49 The aggregate amount of all Early Distribution 0.00
Amounts paid or deemed paid for the
Distribution Period.
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
certificate this 13th day of October 2000.
NAVISTAR FINANCIAL CORPORATION,
As Servicer
By: R. Wayne Cain
Vice President & Treasurer
<PAGE>
Exhibit 20.4
Page 1 of 6
MONTHLY SERVICER AND SETTLEMENT CERTIFICATE #4
DEALER NOTE MASTER TRUST
DEALER NOTE
ASSET BACKED CERTIFICATES
SERIES 2000-1
Under the Series 2000-1 Supplement dated as of July 28, 2000 (the "Supplement")
by and among Navistar Financial Corporation, ("NFC"), Navistar Financial
Securities Corporation ("NFSC") and The Bank of New York, as trustee (the
"Master Trust Trustee") to the Pooling and Servicing Agreement dated as of June
8, 1995 (as amended and supplemented, the "Agreement") by and among NFC, NFSC,
the Master Trust Trustee and The Chase Manhattan Bank, as 1990 Trust Trustee,
the Master Trust Trustee is required to prepare certain information each month
regarding current distributions to certain accounts and payments to Series
2000-1 Certificateholders as well as the performance of the Master Trust during
the previous month. The information which is required to be prepared with
respect to the Distribution Date of November 27, 2000, the Transfer Date of
November 22, 2000, and with respect to the performance of the Master Trust
during the Due Period ended on October 31, 2000 and the Distribution Period
ended November 25, 2000, is set forth below. Certain of the information is
presented on the basis of an original principal amount of $1,000 per Investor
Certificate. Certain other information is presented based on the aggregate
amounts for the Master Trust as a whole. Capitalized terms used but not
otherwise defined herein shall have the meanings assigned to such terms
in the Agreement and the Supplement.
1. NFC is Servicer under the Agreement.
2. The undersigned is a Servicing Officer
3. Master Trust Information:
3.1 The amount of the Advance, if any, for the Due 517,689.41
Period
3.2 The amount of NITC Finance Charges for the Due 3,934,930.20
Period
3.3 The average daily balance of Dealer Notes 1,054,016,269.32
outstanding during the Due Period
3.4 The total amount of Advance Reimbursements for 0.00
the Due Period
3.5 The aggregate principal amount of Dealer Notes 305,442,626.60
repaid during the Due Period.
3.6 The aggregate principal amount of Dealer Notes 292,452,257.39
purchased by the Master Trust during the Due
Period.
3.7 The amount of the Servicing Fee for the Due 873,079.51
Period.
<PAGE>
Exhibit 20.4
Page 2 of 6
3.8 The average daily Master Trust Seller's 164,670,460.94
Interest during the Due Period.
3.9 The Master Trust Seller's Interest as of the 164,670,460.94
Distribution Date (after giving effect to the
transactions set forth in Article IV of the
Supplement).
3.10 The aggregate amount of Collections for the 369,157,675.25
Due Period.
3.11 The aggregate amount of Finance Charge 9,505,048.52
Collections for the Due Period.
3.12 The aggregate amount of Principal Collections 359,652,626.73
for the Due Period.
3.13 The amount of Dealer Note Losses for the Due 0.00
Period.
3.14 The aggregate amount of Dealer Notes as of the 1,047,695,394.17
last day of the Due Period.
3.15 The aggregate amount of funds on deposit in 54,210,000.13
the Excess Funding Account as of the end of
the last day of the Due Period (after giving
effect to the transactions set forth in
Article IV of the Supplement and Article IV of
the Agreement.
3.16 Eligible Investments in the Excess Funding
Account:
a. The aggregate amount of funds invested in 0.00
Eligible Investments.
b. Description of each Eligible Investment. 0.00
c. The rate of interest applicable to each 0.00%
such Eligible Investment.
d. The rating of each such Eligible Investment 0.00
3.17 The aggregate amount of Dealer Notes issued 12,488,453.52
to finance OEM Vehicles, as of the end of the
Due Period.
3.18 The Dealers with the five largest aggregate
outstanding principal amounts of Dealer Notes
in the Master Trust as of the end of the Due
Period.
i) Southwest Intl Trks Inc.
ii) Southland Intl Trks
iii) Longhorn Intl Trks Ltd
iv) Freund Equip Inc
v) Nalley Motor Trucks
<PAGE>
Exhibit 20.4
Page 3 of 6
3.19 Aggregate amount of delinquent principal 1.11%
payments (past due greater than 30 days) as a
percentage of the total principal amount
outstanding, as of the end of the Due Period.
4.0 Series 2000-1 Information
4.1 The Deficiency Amount as of the Transfer Date 0.00
(after giving effect to the transactions set
forth in Article IV of the Supplement).
4.2a The Maximum Subordinated Amount as of the 19,080,000.00
Transfer Date (after giving effect to the
transactions set forth in Article IV of the
Supplement).
4.2b The Available Subordinated Amount as of the 19,080,000.00
Transfer Date (after giving effect to the
transactions set forth in Article IV of the
Supplement)
4.3 The Projected Spread for the following 2,650,000.00
Distribution Period.
4.4 The amount on deposit in the Spread Account as 2,649,128.08
of the Transfer Date (after giving effect to
the transactions set forth in Article IV of
the Supplement).
4.5 The aggregate amount on deposit in the 0.00
Liquidity Reserve Account as of the
Transfer Date (after giving effect to
the transactions set forth in Article IV
of the Supplement.
4.6 The Invested Amount as of the Distribution 212,000,000.00
Date (after giving effect to the transactions
set forth in Article IV of the Supplement and
to the payments made on the Distribution Date).
4.7 The amount of Series Allocable Dealer Notes 0.00
Losses for the Due Period.
4.8 The amount of Series Allocable Finance Charge 2,046,436.95
Collections for the Due Period.
4.9 The amount of Series Allocable Principal 77,433,210.53
Collections for the Due Period.
4.10 The amount of Series Principal Account Losses 0.00
for the Due Period.
4.11 The amount of Investor Dealer Note Losses for 0.00
the Due Period.
4.12 The amount of Investor Finance Charge 1,828,696.06
Collections for the Due Period.
<PAGE>
Exhibit 20.4
Page 4 of 6
4.13 The amount of Investor Principal Collections 69,194,316.93
for the Due Period.
4.14 The amount of Available Certificateholder's 1,897,027.23
Interest Collections for the Due Period.
4.15 The amount of Series 2000-1 Shared Principal 69,194,316.93
Collections for the Due Period.
4.16 The aggregate amount of the Series 2000-1 0.00
Principal Shortfall, if any, for the Due
Period.
4.17 The Seller's Percentage for the Due Period. 10.64%
4.18 The Excess Seller's Percentage for the Due 2.60%
Period.
4.19 The aggregate amount of Seller's Principal 8,238,893.60
Collections for the Due Period.
4.20 The amount of Available Seller's Finance 225,926.64
Charge Collections for the Due Period.
4.21 The aggregate amount of Available Seller's 6,225,630.13
Principal Collections for the Due Period.
4.22 The aggregate amount of Excess Seller's 2,013,263.47
Principal Collections for the Due Period
4.23 The Controlled Amortization Amount, if 0.00
applicable, for the Due Period.
4.24 The Minimum Series 2000-1 Master Trust 25,440,000.00
Seller's Interest as of the Distribution Date
(after giving effect to the transactions set
forth in Article IV of the Supplement).
4.25 The Series 2000-1 Allocation Percentage for 21.53%
the Due Period.
4.26 The Floating Allocation Percentage for the Due 89.36%
Period.
4.27 The Principal Allocation Percentage, if 0.00%
applicable, for the Due Period.
4.28 The total amount, if any, to be distributed on 1,506,100.66
the Series 2000-1 Certificates on the
Distribution Date.
4.29 The total amount, if any, to be distributed on 0.00
the Series 2000-1 Certificates on the
Distribution Date allocable to the Invested
Amount.
4.30 The total amount, if any, to be distributed 1,338,127.08
on the Series 2000-1 Certificates on the
Distribution Date allocable to interest on
the Series 2000-1 Certificates.
<PAGE>
Exhibit 20.4
Page 5 of 6
4.31 The Draw Amount as of the Transfer Date. 0.00
4.32 The amount of Investor Charge-Offs as of the 0.00
Transfer Date.
4.33 The amount of reimbursement of Investor 0.00
Charge-Offs as of the Transfer Date.
4.34 The amount of the Investor Servicing Fee to be 167,973.58
paid on such Distribution Date.
4.35 The aggregate amount of funds on deposit in 0.00
the Series Principal Account as of the end of
the last day of the Due Period (after giving
effect to the payments and adjustments made
pursuant to Article IV of the Supplement and
of the Agreement).
4.36 The aggregate amount of funds on deposit in 2,649,128.08
the Spread Account as of the end of the last
day of the Due Period (after giving effect to
payments and adjustments made pursuant to
Article IV of the Supplement and the
Agreement).
4.37 Eligible Investments in the Series Principal
Account:
a. The aggregate amount of funds invested in 0.00
Eligible Investments.
b. Description of each Eligible Investment: NA
c. The rate of interest applicable to each _______%
such Eligible Investment.
d. The rating of each such Eligible NA
Investment.
4.38 Eligible Investments in the Liquidity Reserve
Account:
a. The aggregate amount of funds invested in 0.00
Eligible Investments.
b. Description of each Eligible Investment: NA
c. The rate of interest applicable to each _______%
such Eligible Investment.
d. The rating of each such Eligible NA
Investment.
4.39 The amount of Excess Interest Collections for 390,926.57
the Due Period.
<PAGE>
Exhibit 20.4
Page 6 of 6
4.40 The amount of Investor Principal Collections 69,194,316.93
treated as Shared Principal Collections for
the Due Period.
4.41 The amount of Excess Interest Collections for 0.00
the Due Period Allocated to other Series.
4.42 The amount of Investor Principal Collections 0.00
treated as Shared Principal Collections for
the Due Period allocated to Other Series.
4.43 The percentages and all other information NA
calculated pursuant to Sections 6.01 of the
Supplement.
4.44 The amount of Remaining Available Seller's 0.00
Principal Collections for the Due Period.
4.45 The amount of Series 2000-1 Shared Seller's 8,238,893.60
Principal Collections for the Due Period.
4.46 The aggregate amount of Shared Seller's 0.00
Principal Collections from Other Series for
the Due Period.
4.47 The amount of all Shared Seller's Principal 0.00
Collections allocated to Series 2000-1 for the
Due Period.
4.48 The aggregate amount of all Shared Seller's 0.00
Principal Collections allocated to Other
Series for the Due Period.
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
certificate this 13th day of October 2000.
NAVISTAR FINANCIAL CORPORATION,
As Servicer
By: R. Wayne Cain
Vice President & Treasurer
