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) December 26, 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 December 25, 2000, Registrant made available the Monthly
Servicer and Settlement Certificates for the Due Period ended
November 30, 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 January 4, 2001 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 #64, Series 1995-1
dated December 25, 2000
20.2 Monthly Servicer and Settlement Certificate #38, Series 1997-1
dated December 25, 2000
20.3 Monthly Servicer and Settlement Certificate #30, Series 1998-1
dated December 25, 2000
20.4 Monthly Servicer and Settlement Certificate #5, Series 2000-1
dated December 25, 2000
<PAGE>
Exhibit 20.1
Page 1 of 6
MONTHLY SERVICER AND SETTLEMENT CERTIFICATE # 64
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 December 26, 2000, the Transfer Date of
December 22, 2000 and with respect to the performance of the Master Trust during
the Due Period ended on November 30, 2000 and the Distribution Period ended
December 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 .
<TABLE>
<CAPTION>
<S> <C>
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 Period 825,979.63
3.2 The amount of NITC Finance Charges for the Due Period 3,422,311.41
3.3 The average daily balance of Dealer Notes outstanding during the Due Period 1,044,765,057.68
3.4 The total amount of Advance Reimbursements for the Due Period 0.00
3.5 The aggregate principal amount of Dealer Notes repaid during the Due Period 250,022,401.90
3.6 The aggregate principal amount of Dealer Notes purchased by the Master Trust 220,339,948.95
during the Due Period
3.7 The amount of the Servicing Fee for the Due Period 848,344.11
3.8 The average daily Master Trust Seller's Interest during the Due Period 164,670,460.94
<PAGE>
Exhibit 20.1
Page 2 of 6
3.9 The Master Trust Seller's Interest as of the Distribution Date (after
giving effect to the transactions set forth in Article IV of the
Supplement) 164,670,460.94
3.10 The aggregate amount of Collections for the Due Period 345,128,618.31
3.11 The aggregate amount of Finance Charge Collections for the Due Period 11,217,589.01
3.12 The aggregate amount of Principal Collections for the Due Period 333,911,029.30
3.13 The amount of Dealer Note Losses for the Due Period 0.00
3.14 The aggregate amount of Dealer Notes as of the last day of the Due Period 1,018,012,941.22
3.15 The aggregate amount of funds on deposit in 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) 83,888,627.40
3.16 Eligible Investments in the Excess Funding Account:
a. The aggregate amount of funds invested in Eligible Investments 0.00
b. Description of each Eligible Investment: 0.00
c. The rate of interest applicable to each such Eligible Investment 0.00%
d. The rating of each such Eligible Investment 0.00
3.17 The aggregate amount of Dealer Notes issued to finance OEM Vehicles, as of
the end of the Due Period 13,471,158.90
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) Southland Intl Trks
ii) Nalley Motor Trucks
iii) Longhorn Intl Trks Ltd
iv) Southwest Intl Trks Inc.
v) Prairie Intl Trucks
3.19 Aggregate amount of delinquent principal payments (past due greater than 30
days) as a percentage of the total principal amount outstanding, as of the
end of the Due Period 1.27%
<PAGE>
Exhibit 20.1
Page 3 of 6
4.0 Series 1995-1 Information.
4.1 The Deficiency Amount as of the Transfer Date (after giving effect to the
transactions set forth in Article IV of the Supplement) 0.00
4.2a The Maximum Subordinated Amount as of the Transfer Date (after giving effect
to the transactions set forth in Article IV of the Supplement) 31,000,000.00
4.2b The Available Subordinated Amount as of the Transfer Date (after giving
effect to the transactions set forth in Article IV of the Supplement) 31,000,000.00
4.3 The Projected Spread for the following Distribution Period 2,500,000.00
4.4 The amount on deposit in the Spread Account as of the Transfer Date (after
giving effect to the transactions set forth in Article IV of the Supplement) 2,500,000.00
4.5 The aggregate amount on deposit in the Liquidity Reserve Account as of
the Transfer Date (after giving effect to the transactions set forth in
Article IV of the Supplement) 0.00
4.6 The aggregate amount on deposit in the Negative Carry Reserve Fund as of the
Transfer Date (after giving effect to the transactions set forth in
Article IV of the Supplement) 0.00
4.7 The Invested Amount as of the Distribution Date (after giving effect to the
transactions set forth in Article IV of the Supplement and to the
payments made on the Distribution Date) 200,000,000.00
4.8 The amount of Series Allocable Dealer Notes Losses for the Due Period 0.00
4.9 The amount of Series Allocable Finance Charge Collections for the Due Period 2,462,260.79
4.10 The amount of Series Allocable Principal Collections for the Due Period 73,293,470.93
4.11 The amount of Series Principal Account Losses for the Due Period 0.00
4.12 The amount of Investor Dealer Note Losses for the Due Period 0.00
4.13 The amount of Investor Finance Charge Collections for the Due Period 2,036,043.45
4.14 The amount of Investor Principal Collections for the Due Period 60,606,371.11
<PAGE>
Exhibit 20.1
Page 4 of 6
4.15 The amount of Available Certificateholder's Interest Collections for the Due
Period 2,101,247.96
4.16 The amount of Series 1995-1 Shared Principal Collections for the Due Period 60,606,371.11
4.17 The aggregate amount of the Series 1995-1 Principal Shortfall, if any, for
the Due Period 0.00
4.18 The Seller's Percentage for the Due Period 17.31%
4.19 The Excess Seller's Percentage for the Due Period 2.60%
4.20 The aggregate amount of Seller's Principal Collections for the Due Period 12,687,099.82
4.21 The amount of Available Seller's Finance Charge Collections for the Due
Period 436,066.39
4.22 The aggregate amount of Available Seller's Principal Collections for the Due
Period 10,781,469.57
4.23 The aggregate amount of Excess Seller's Principal Collections for the Due
Period 1,905,630.24
4.24 The Controlled Amortization Amount, if applicable, for the Due Period 0.00
4.25 The Minimum Series 1995-1 Master Trust Seller's Interest as of the
Distribution Date (after giving effect to the transactions set forth in
Article IV of the Supplement) 41,575,965.63
4.26 The Series 1995-1 Allocation Percentage for the Due Period 21.95%
4.27 The Floating Allocation Percentage for the Due Period 82.69%
4.28 The Principal Allocation Percentage, if applicable, for the Due Period 0.00%
4.29 The total amount to be distributed on the Series 1995-1 Certificates on the
Distribution Date 1,267,658.87
4.30 The total amount, if any, to be distributed on the Series 1995-1 Certificates
on the Distribution Date allocable to the Invested Amount 0.00
4.31 The total amount, if any, to be distributed on the Series 1995-1
Certificates on the Distribution Date allocable to interest on the Series
1995-1 Certificates 1,113,680.56
4.32 The Draw Amount as of the Transfer Date 0.00
<PAGE>
Exhibit 20.1
Page 5 of 6
4.33 The amount of Investor Charge-Offs as of Transfer Date 0.00
4.34 The amount of reimbursement of Investor Charge-Offs as of the Transfer Date 0.00
4.35 The amount of the Investor Servicing Fee to be paid on such Distribution
Date 153,978.31
4.36 The aggregate amount of funds on deposit in 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) 0.00
4.37 The aggregate amount of funds on deposit in 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) 0.00
4.38 The aggregate amount of funds on deposit in 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) 2,500,000.00
4.39 Eligible Investments in the Series Principal Account:
a. The aggregate amount of funds invested in Eligible Investments 0.00
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 Investment NA
4.40 Eligible Investments in the Liquidity Reserve Account:
a. The aggregate amount of funds invested in Eligible Investments 0.00
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 Investment NA
4.41 The amount of Excess Interest Collections for the Due Period 833,589.08
4.42 The amount of Investor Principal Collections treated as Shared Principal
Collections for the Due Period 60,606,371.11
<PAGE>
Exhibit 20.1
Page 6 of 6
4.43 The amount of Excess Interest Collections for the Due Period allocated to
other Series 0.00
4.44 The amount of Investor Principal Collections treated as Shared Principal
Collections for the Due Period allocated to Other Series 0.00
4.45 The percentages and all other information calculated pursuant to Sections
6.01 and 7.01 of the Supplement NA
4.46 The amount of Remaining Available Seller's Principal Collections for the Due
Period 0.00
4.47 The amount of Series 1995-1 Shared Seller's Principal Collections for the
Due Period 12,687,099.82
4.48 The aggregate amount of Shared Seller's Principal Collections from Other
Series for the Due Period 0.00
4.49 The amount of all Shared Seller's Principal Collections allocated to Series
1995-1 for the Due Period 0.00
4.50 The aggregate amount of all Shared Seller's Principal Collections allocated
to Other Series for the Due Period 0.00
4.51 The aggregate amount of all Early Distributions Amounts paid or deemed paid
for the Distribution Period 0.00
</TABLE>
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
certificate this December 12, 2000
NAVISTAR FINANCIAL CORPORATION,
as Servicer
By: R. Wayne Cain
Vice President and Treasurer
<PAGE>
Exhibit 20.2
Page 1 of 6
MONTHLY SERVICER AND SETTLEMENT CERTIFICATE # 38
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 December 26, 2000, the Transfer Date of
December 22, 2000 and with respect to the performance of the Master Trust during
the Due Period ended on November 30, 2000 and the Distribution Period ended
December 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 .
<TABLE>
<CAPTION>
<S> <C>
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, foDuehPeriod 825,979.63
3.2 The amount of NITC Finance Charges for the Due Period 3,422,311.41
3.3 The average daily balance of Dealer Notes outstanding during the Due Period 1,044,765,057.68
3.4 The total amount of Advance Reimbursements for the Due Period 0.00
3.5 The aggregate principal amount of Dealer Notes repaid during the Due Period 250,022,401.90
3.6 The aggregate principal amount of Dealer Notes purchased by the Master Trust 220,339,948.95
during the Due Period
3.7 The amount of the Servicing Fee for the Due Period 848,344.11
3.8 The average daily Master Trust Seller's Interest during the Due Period 164,670,460.94
<PAGE>
Exhibit 20.2
Page 2 of 6
3.9 The Master Trust Seller's Interest as of the Distribution Date (after
giving effect to the transactions set forth in Article IV of the Supplement) 164,670,460.94
3.10 The aggregate amount of Collections for the Due Period 345,128,618.31
3.11 The aggregate amount of Finance Charge Collections for the Due Period 11,217,589.01
3.12 The aggregate amount of Principal Collections for the Due Period 333,911,029.30
3.13 The amount of Dealer Note Losses for the Due Period 0.00
3.14 The aggregate amount of Dealer Notes as of the last day of the Due Period 1,018,012,941.22
3.15 The aggregate amount of funds on deposit in 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) 83,888,627.40
3.16 Eligible Investments in the Excess Funding Account:
a. The aggregate amount of funds invested in Eligible Investments 0.00
b. Description of each Eligible Investment: 0.00
c. The rate of interest applicable to each such Eligible Investment 0.00%
d. The rating of each such Eligible Investment 0.00
3.17 The aggregate amount of Dealer Notes issued to finance OEM Vehicles, as of
the end of the Due Period 13,471,158.90
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) Southland Intl Trks
ii) Nalley Motor Trucks
iii) Longhorn Intl Trks Ltd
iv) Southwest Intl Trks Inc.
v) Prairie Intl Trucks
3.19 Aggregate amount of delinquent principal payments (past due greater than 30
days) as a percentage of the total principal amount outstanding, as of the
end of the Due Period 1.27%
<PAGE>
Exhibit 20.2
Page 3 of 6
4.0 Series 1997-1 Information.
4.1 The Deficiency Amount as of the Transfer Date (after giving effect to the
transactions set forth in Article IV of the Supplement) 0.00
4.2a The Maximum Subordinated Amount as of the Transfer Date (after giving effect
to the transactions set forth in Article IV of the Supplement) 31,000,000.00
4.2b The Available Subordinated Amount as of the Transfer Date (after giving
effect to the transactions set forth in Article IV of the Supplement) 31,000,000.00
4.3 The Projected Spread for the following Distribution Period 2,500,000.00
4.4 The amount on deposit in the Spread Account as of the Transfer Date (after
giving effect to the transactions set forth in Article IV of the Supplement) 2,500,000.00
4.5 The aggregate amount on deposit in the Liquidity Reserve Account as of
the Transfer Date (after giving effect to the transactions set forth in
Article IV of the Supplement) 0.00
4.6 The Invested Amount as of the Distribution Date (after giving effect to the
transactions set forth in Article IV of the Supplement and to the payments
made on the Distribution Date) 200,000,000.00
4.7 The amount of Series Allocable Dealer Notes Losses for the Due Period 0.00
4.8 The amount of Series Allocable Finance Charge Collections for the Due Period 2,415,146.91
4.9 The amount of Series Allocable Principal Collections for the Due Period 71,891,044.61
4.10 The amount of Series Principal Account Losses for the Due Period 0.00
4.11 The amount of Investor Dealer Note Losses for the Due Period 0.00
4.12 The amount of Investor Finance Charge Collections for the Due Period 2,035,968.85
4.13 The amount of Investor Principal Collections for the Due Period 60,604,150.60
4.14 The amount of Available Certificateholder's Interest Collections for the Due
Period 2,100,129.10
<PAGE>
Exhibit 20.2
Page 4 of 6
4.15 The amount of Series 1997-1 Shared Principal Collections for the Due Period 60,604,150.60
4.16 The aggregate amount of the Series 1997-1 Principal Shortfall, if any, for
the Due Period 0.00
4.17 The Seller's Percentage for the Due Period 15.70%
4.18 The Excess Seller's Percentage for the Due Period 2.63%
4.19 The aggregate amount of Seller's Principal Collections for the Due Period 11,286,894.00
4.20 The amount of Available Seller's Finance Charge Collections for the Due Period 388,114.11
4.21 The aggregate amount of Available Seller's Principal Collections for the Due
Period 9,396,159.53
4.22 The aggregate amount of Excess Seller's Principal Collections for the Due
Period 1,890,734.47
4.23 The Controlled Amortization Amount, if applicable, for the Due Period 0.00
4.24 The Minimum Series 1997-1 Master Trust Seller's Interest as of the Distribution
Date (after giving effect to the transactions set forth in Article IV of
the Supplement) 37,000,000.00
4.25 The Series 1997-1 Allocation Percentage for the Due Period 21.53%
4.26 The Floating Allocation Percentage for the Due Period 84.30%
4.27 The Principal Allocation Percentage, if applicable, for the Due Period 0.00%
4.28 The total amount to be distributed on the Series 1997-1 Certificates on the
Distribution Date 1,243,486.57
4.29 The total amount, if any, to be distributed on the Series 1997-1 Certificates
on the Distribution Date allocable to the Invested Amount 0.00
4.30 The total amount, if any, to be distributed on the Series 1997-1 Certificates
on the Distribution Date allocable to interest on the Series 1997-1
Certificates 1,089,513.89
4.31 The Draw Amount as of the Transfer Date 0.00
4.32 The amount of Investor Charge-Offs as of Transfer Date 0.00
<PAGE>
Exhibit 20.2
Page 5 of 6
4.33 The amount of reimbursement of Investor Charge-Offs as of the Transfer Date 0.00
4.34 The amount of the Investor Servicing Fee to be paid on such Distribution Date 153,972.68
4.35 The aggregate amount of funds on deposit in 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) 0.00
4.36 The aggregate amount of funds on deposit in 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) 2,500,000.00
4.37 Eligible Investments in the Series Principal Account:
a. The aggregate amount of funds invested in Eligible Investments 0.00
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 Investment NA
4.38 Eligible Investments in the Liquidity Reserve Account:
a. The aggregate amount of funds invested in Eligible Investments 0.00
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 Investment NA
4.39 The amount of Excess Interest Collections for the Due Period 856,642.54
4.40 The amount of Investor Principal Collections treated as Shared Principal
Collections for the Due Period 60,604,150.60
4.41 The amount of Excess Interest Collections for the Due Period allocated to
other Series 0.00
4.42 The amount of Investor Principal Collections treated as Shared Principal
Collections for the Due Period allocated to Other Series 0.00
<PAGE>
Exhibit 20.2
Page 6 of 6
4.43 The percentages and all other information calculated pursuant to Section 6.01
of the Supplement NA
4.44 The amount of Remaining Available Seller's Principal Collections for the Due
Period 0.00
4.45 The amount of Series 1997-1 Shared Seller's Principal Collections for the Due
Period 11,286,894.00
4.46 The aggregate amount of Shared Seller's Principal Collections from Other
Series for the Due Period 0.00
4.47 The amount of all Shared Seller's Principal Collections allocated to Series
1997-1 for the Due Period 0.00
4.48 The aggregate amount of all Shared Seller's Principal Collections allocated
to Other Series for the Due Period 0.00
4.49 The aggregate amount of all Early Distributions Amounts paid or deemed paid
for the Distribution Period NA
</TABLE>
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
certificate this December 12, 2000
NAVISTAR FINANCIAL CORPORATION,
as Servicer
By: R. Wayne Cain
Vice President and Treasurer
<PAGE>
Exhibit 20.3
Page 1 of 6
MONTHLY SERVICER AND SETTLEMENT CERTIFICATE # 30
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 December 26, 2000, the Transfer Date of
December 22, 2000 and with respect to the performance of the Master Trust during
the Due Period ended on November 30, 2000 and the Distribution Period ended
December 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 .
<TABLE>
<CAPTION>
<S> <C>
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, Due Period 825,979.63
3.2 The amount of NITC Finance Charges for the Due Period 3,422,311.41
3.3 The average daily balance of Dealer Notes outstanding during the Due Period 1,044,765,057.68
3.4 The total amount of Advance Reimbursements for the Due Period 0.00
3.5 The aggregate principal amount of Dealer Notes repaid during the Due Period 250,022,401.90
3.6 The aggregate principal amount of Dealer Notes purchased by the Master Trust 220,339,948.95
during the Due Period
3.7 The amount of the Servicing Fee for the Due Period 848,344.11
3.8 The average daily Master Trust Seller's Interest during the Due Period 164,670,460.94
<PAGE>
Exhibit 20.3
Page 2 of 6
3.9 The Master Trust Seller's Interest as of the Distribution Date (after
giving effect to the transactions set forth in Article IV of the Supplement) 164,670,460.94
3.10 The aggregate amount of Collections for the Due Period 345,128,618.31
3.11 The aggregate amount of Finance Charge Collections for the Due Period 11,217,589.01
3.12 The aggregate amount of Principal Collections for the Due Period 333,911,029.30
3.13 The amount of Dealer Note Losses for the Due Period 0.00
3.14 The aggregate amount of Dealer Notes as of the last day of the Due Period 1,018,012,941.22
3.15 The aggregate amount of funds on deposit in 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) 83,888,627.40
3.16 Eligible Investments in the Excess Funding Account:
a. The aggregate amount of funds invested in Eligible Investments 0.00
b. Description of each Eligible Investment: 0.00
c. The rate of interest applicable to each such Eligible Investment 0.00%
d. The rating of each such Eligible Investment 0.00
3.17 The aggregate amount of Dealer Notes issued to finance OEM Vehicles, as of
the end of the Due Period 13,471,158.90
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) Southland Intl Trks
ii) Nalley Motor Trucks
iii) Longhorn Intl Trks Ltd
iv) Southwest Intl Trks Inc.
v) Prairie Intl Trucks
3.19 Aggregate amount of delinquent principal payments (past due greater than 30
days)as a percentage of the total principal amount outstanding, as of the
end of the Due Period 1.27%
<PAGE>
Exhibit 20.3
Page 3 of 6
4.0 Series 1998-1 Information.
4.1 The Deficiency Amount as of the Transfer Date (after giving effect to the
transactions set forth in Article IV of the Supplement) 0.00
4.2a The Maximum Subordinated Amount as of the Transfer Date (after giving effect
to the transactions set forth in Article IV of the Supplement) 31,000,000.00
4.2b The Available Subordinated Amount as of the Transfer Date (after giving
effect to the transactions set forth in Article IV of the Supplement) 31,000,000.00
4.3 The Projected Spread for the following Distribution Period 2,500,000.00
4.4 The amount on deposit in the Spread Account as of the Transfer Date (after
giving effect to the transactions set forth in Article IV of the Supplement) 2,500,000.00
4.5 The aggregate amount on deposit in the Liquidity Reserve Account as of the
Transfer Date (after giving effect to the transactions set forth in Article
IV of the Supplement) 0.00
4.6 The Invested Amount as of the Distribution Date (after giving effect to the
transactions set forth in Article IV of the Supplement and to the payments
made on the Distribution Date) 200,000,000.00
4.7 The amount of Series Allocable Dealer Notes Losses for the Due Period 0.00
4.8 The amount of Series Allocable Finance Charge Collections for the Due Period 2,415,146.91
4.9 The amount of Series Allocable Principal Collections for the Due Period 71,891,044.61
4.10 The amount of Series Principal Account Losses for the Due Period 0.00
4.11 The amount of Investor Dealer Note Losses for the Due Period 0.00
4.12 The amount of Investor Finance Charge Collections for the Due Period 2,035,968.85
4.13 The amount of Investor Principal Collections for the Due Period 60,604,150.60
4.14 The amount of Available Certificateholder's Interest Collections for the Due
Period 2,100,129.10
<PAGE>
Exhibit 20.3
Page 4 of 6
4.15 The amount of Series 1998-1 Shared Principal Collections for the Due Period 60,604,150.60
4.16 The aggregate amount of the Series 1998-1 Principal Shortfall, if any, for
the Due Period 0.00
4.17 The Seller's Percentage for the Due Period 15.70%
4.18 The Excess Seller's Percentage for the Due Period 2.63%
4.19 The aggregate amount of Seller's Principal Collections for the Due Period 11,286,894.00
4.20 The amount of Available Seller's Finance Charge Collections for the Due Period 388,114.11
4.21 The aggregate amount of Available Seller's Principal Collections for the Due
Period 9,396,159.53
4.22 The aggregate amount of Excess Seller's Principal Collections for the Due
Period 1,890,734.47
4.23 The Controlled Amortization Amount, if applicable, for the Due Period 0.00
4.24 The Minimum Series 1998-1 Master Trust Seller's Interest as of the
Distribution Date (after giving effect to the transactions set forth in
Article IV of the Supplement) 37,000,000.00
4.25 The Series 1998-1 Allocation Percentage for the Due Period 21.53%
4.26 The Floating Allocation Percentage for the Due Period 84.30%
4.27 The Principal Allocation Percentage, if applicable, for the Due Period 0.00%
4.28 The total amount to be distributed on the Series 1998-1 Certificates on the
Distribution Date 1,245,097.68
4.29 The total amount, if any, to be distributed on the Series 1998-1 Certificates
on the Distribution Date allocable to the Invested Amount 0.00
4.30 The total amount, if any, to be distributed on the Series 1998-1 Certificates
on the Distribution Date allocable to interest on the Series 1998-1
Certificates 1,091,125.00
4.31 The Draw Amount as of the Transfer Date 0.00
4.32 The amount of Investor Charge-Offs as of Transfer Date 0.00
<PAGE>
Exhibit 20.3
Page 5 of 6
4.33 The amount of reimbursement of Investor Charge-Offs as of the Transfer Date 0.00
4.34 The amount of the Investor Servicing Fee to be paid on such Distribution Date 153,972.68
4.35 The aggregate amount of funds on deposit in 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) 0.00
4.36 The aggregate amount of funds on deposit in 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) 2,500,000.00
4.37 Eligible Investments in the Series Principal Account:
a. The aggregate amount of funds invested in Eligible Investments 0.00
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 Investment NA
4.38 Eligible Investments in the Liquidity Reserve Account:
a. The aggregate amount of funds invested in Eligible Investments 0.00
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 Investment NA
4.39 The amount of Excess Interest Collections for the Due Period 855,031.43
4.40 The amount of Investor Principal Collections treated as Shared Principal
Collections for the Due Period 60,604,150.60
4.41 The amount of Excess Interest Collections for the Due Period allocated to
other Series 0.00
4.42 The amount of Investor Principal Collections treated as Shared Principal
Collections for the Due Period allocated to Other Series 0.00
<PAGE>
Exhibit 20.3
Page 6 of 6
4.43 The percentages and all other information calculated pursuant to Section 6.01
of the Supplement NA
4.44 The amount of Remaining Available Seller's Principal Collections for the Due
Period 0.00
4.45 The amount of Series 1998-1 Shared Seller's Principal Collections for the
Due Period 11,286,894.00
4.46 The aggregate amount of Shared Seller's Principal Collections from Other
Series for the Due Period 0.00
4.47 The amount of all Shared Seller's Principal Collections allocated to Series
1998-1 for the Due Period 0.00
4.48 The aggregate amount of all Shared Seller's Principal Collections allocated
to Other Series for the Due Period 0.00
4.49 The aggregate amount of all Early Distributions Amounts paid or deemed paid
for the Distribution Period 0.00
</TABLE>
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
certificate this December 12, 2000
NAVISTAR FINANCIAL CORPORATION,
as Servicer
By: R. Wayne Cain
Vice Presedent and Treasurer
<PAGE>
Exhibit 20.4
Page 1 of 6
MONTHLY SERVICER AND SETTLEMENT CERTIFICATE # 5
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 December 26, 2000, the Transfer Date of
December 22, 2000 and with respect to the performance of the Master Trust during
the Due Period ended on November 30, 2000 and the Distribution Period ended
December 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 .
<TABLE>
<CAPTION>
<S> <C>
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,DuerPeriod 825,979.63
3.2 The amount of NITC Finance Charges for the Due Period 3,422,311.41
3.3 The average daily balance of Dealer Notes outstanding during the Due Period 1,044,765,057.68
3.4 The total amount of Advance Reimbursements for the Due Period 0.00
3.5 The aggregate principal amount of Dealer Notes repaid during the Due Period 250,022,401.90
3.6 The aggregate principal amount of Dealer Notes purchased by the Master Trust 220,339,948.95
during the Due Period
3.7 The amount of the Servicing Fee for the Due Period 848,344.11
3.8 The average daily Master Trust Seller's Interest during the Due Period 164,670,460.94
<PAGE>
Exhibit 20.4
Page 2 of 6
3.9 The Master Trust Seller's Interest as of the Distribution Date (after giving
effect to the transactions set forth in Article IV of the Supplement) 164,670,460.94
3.10 The aggregate amount of Collections for the Due Period 345,128,618.31
3.11 The aggregate amount of Finance Charge Collections for the Due Period 11,217,589.01
3.12 The aggregate amount of Principal Collections for the Due Period 333,911,029.30
3.13 The amount of Dealer Note Losses for the Due Period 0.00
3.14 The aggregate amount of Dealer Notes as of the last day of the Due Period 1,018,012,941.22
3.15 The aggregate amount of funds on deposit in 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) 83,888,627.40
3.16 Eligible Investments in the Excess Funding Account:
a. The aggregate amount of funds invested in Eligible Investments 0.00
b. Description of each Eligible Investment: 0.00
c. The rate of interest applicable to each such Eligible Investment 0.00%
d. The rating of each such Eligible Investment 0.00
3.17 The aggregate amount of Dealer Notes issued to finance OEM Vehicles, as of
the end of the Due Period 13,471,158.90
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) Southland Intl Trks
ii) Nalley Motor Trucks
iii) Longhorn Intl Trks Ltd
iv) Southwest Intl Trks Inc.
v) Prairie Intl Trucks
3.19 Aggregate amount of delinquent principal payments (past due greater than 30
days) as a percentage of the total principal amount outstanding, as of the
end of the Due Period 1.27%
<PAGE>
Exhibit 20.4
Page 3 of 6
4.0 Series 2000-1 Information.
4.1 The Deficiency Amount as of the Transfer Date (after giving effect to the
transactions set forth in Article IV of the Supplement) 0.00
4.2a The Maximum Subordinated Amount as of the Transfer Date (after giving effect
to the transactions set forth in Article IV of the Supplement) 19,080,000.00
4.2b The Available Subordinated Amount as of the Transfer Date (after giving
effect to the transactions set forth in Article IV of the Supplement) 19,080,000.00
4.3 The Projected Spread for the following Distribution Period 2,650,000.00
4.4 The amount on deposit in the Spread Account as of the Transfer Date (after
giving effect to the transactions set forth in Article IV of the Supplement) 2,650,000.00
4.5 The aggregate amount on deposit in the Liquidity Reserve Account as of the
Transfer Date (after giving effect to the transactions set forth in
Article IV of the Supplement) 0.00
4.6 The Invested Amount as of the Distribution Date (after giving effect to the
transactions set forth in Article IV of the Supplement and to the payments
made on the Distribution Date) 212,000,000.00
4.7 The amount of Series Allocable Dealer Notes Losses for the Due Period 0.00
4.8 The amount of Series Allocable Finance Charge Collections for the Due Period 2,416,268.67
4.9 The amount of Series Allocable Principal Collections for the Due Period 71,924,435.71
4.10 The amount of Series Principal Account Losses for the Due Period 0.00
4.11 The amount of Investor Dealer Note Losses for the Due Period 0.00
4.12 The amount of Investor Finance Charge Collections for the Due Period 2,158,211.18
4.13 The amount of Investor Principal Collections for the Due Period 64,242,905.98
4.14 The amount of Available Certificateholder's Interest Collections for the Due
Period 2,223,034.10
<PAGE>
Exhibit 20.4
Page 4 of 6
4.15 The amount of Series 2000-1 Shared Principal Collections for the Due Period 64,242,905.98
4.16 The aggregate amount of the Series 2000-1 Principal Shortfall, if any, for
the Due Period 0.00
4.17 The Seller's Percentage for the Due Period 10.68%
4.18 The Excess Seller's Percentage for the Due Period 2.64%
4.19 The aggregate amount of Seller's Principal Collections for the Due Period 7,681,529.73
4.20 The amount of Available Seller's Finance Charge Collections for the Due Period 266,756.06
4.21 The aggregate amount of Available Seller's Principal Collections for the Due
Period 5,782,724.63
4.22 The aggregate amount of Excess Seller's Principal Collections for the Due
Period 1,898,805.10
4.23 The Controlled Amortization Amount, if applicable, for the Due Period 0.00
4.24 The Minimum Series 2000-1 Master Trust Seller's Interest as of the
Distribution Date (after giving effect to the transactions set forth in
Article IV of the Supplement) 25,440,000.00
4.25 The Series 2000-1 Allocation Percentage for the Due Period 21.54%
4.26 The Floating Allocation Percentage for the Due Period 89.32%
4.27 The Principal Allocation Percentage, if applicable, for the Due Period 0.00%
4.28 The total amount to be distributed on the Series 2000-1 Certificates on the
Distribution Date 1,338,079.90
4.29 The total amount, if any, to be distributed on the Series 2000-1 Certificates
on the Distribution Date allocable to the Invested Amount 0.00
4.30 The total amount, if any, to be distributed on the Series 2000-1 Certificates
on the Distribution Date allocable to interest on the Series 2000-1
Certificates 1,174,862.50
4.31 The Draw Amount as of the Transfer Date 0.00
4.32 The amount of Investor Charge-Offs as of Transfer Date 0.00
<PAGE>
Exhibit 20.4
Page 5 of 6
4.33 The amount of reimbursement of Investor Charge-Offs as of the Transfer Date 0.00
4.34 The amount of the Investor Servicing Fee to be paid on such Distribution Date 163,217.40
4.35 The aggregate amount of funds on deposit in 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) 0.00
4.36 The aggregate amount of funds on deposit in 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) 2,650,000.00
4.37 Eligible Investments in the Series Principal Account:
a. The aggregate amount of funds invested in Eligible Investments 0.00
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 Investment NA
4.38 Eligible Investments in the Liquidity Reserve Account:
a. The aggregate amount of funds invested in Eligible Investments 0.00
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 Investment NA
4.39 The amount of Excess Interest Collections for the Due Period 884,954.20
4.40 The amount of Investor Principal Collections treated as Shared Principal
Collections for the Due Period 64,242,905.98
4.41 The amount of Excess Interest Collections for the Due Period allocated to
other Series 0.00
4.42 The amount of Investor Principal Collections treated as Shared Principal
Collections for the Due Period allocated to Other Series 0.00
<PAGE>
Exhibit 20.4
Page 6 of 6
4.43 The percentages and all other information calculated pursuant to Section
6.01 of the Supplement NA
4.44 The amount of Remaining Available Seller's Principal Collections for the Due
Period 0.00
4.45 The amount of Series 2000-1 Shared Seller's Principal Collections for the
Due Period 7,681,529.73
4.46 The aggregate amount of Shared Seller's Principal Collections from Other
Series for the Due Period 0.00
4.47 The amount of all Shared Seller's Principal Collections allocated to Series
2000-1 for the Due Period 0.00
4.48 The aggregate amount of all Shared Seller's Principal Collections allocated
to Other Series for the Due Period 0.00
</TABLE>
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
certificate this December 12, 2000
NAVISTAR FINANCIAL CORPORATION,
as Servicer
By: R. Wayne Cain
Vice President and Treasurer
