UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 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) June 15, 1995
NAVISTAR FINANCIAL RETAIL RECEIVABLES CORPORATION on behalf of
NAVISTAR FINANCIAL 1993-A OWNER TRUST, NAVISTAR FINANCIAL
1994-A OWNER TRUST, NAVISTAR FINANCIAL 1994-B OWNER TRUST,
NAVISTAR FINANCIAL 1994-C OWNER TRUST
AND NAVISTAR FINANCIAL 1995-A OWNER TRUST
(Exact name of Registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
1-4146-1 51-0337491
(Commission File Number) (I.R.S. 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 708-734-4275
<PAGE>
<PAGE>
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events.
On June 15, 1995, Registrant made available the Monthly Servicer
Certificates for the Period of May 1995 for the specified Owner
Trusts, 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 RETAIL RECEIVABLES CORPORATION on behalf of
NAVISTAR FINANCIAL 1993-A OWNER TRUST, NAVISTAR FINANCIAL
1994-A OWNER TRUST, NAVISTAR FINANCIAL 1994-B OWNER TRUST, NAVISTAR
FINANCIAL 1994-C OWNER TRUST AND NAVISTAR FINANCIAL 1995-A OWNER TRUST
(Registrant)
Date June 23, 1995 By:/s/ PHYLLIS E. COCHRAN
Phyllis E. Cochran
Vice President & Controller
<PAGE>
<PAGE>
EXHIBIT INDEX
Exhibit No. Description
Navistar Financial 1993-A Owner Trust
20.1 Monthly Servicer Certificate, dated June 15, 1995
Navistar Financial 1994-A Owner Trust
20.2 Monthly Servicer Certificate, dated June 15, 1995
Navistar Financial 1994-B Owner Trust
20.3 Monthly Servicer Certificate, dated June 15, 1995
Navistar Financial 1994-C Owner Trust
20.4 Monthly Servicer Certificate, dated June 20, 1995
Navistar Financial 1995-A Owner Trust
20.5 Monthly Servicer Certificate, dated June 20, 1995
<PAGE>
Exhibit 20.1
Page 1 of 3
Navistar Financial 1993-A Owner Trust
For the Month of May 1995
Distribution Date of June 15, 1995
<TABLE>
<S> <C>
Original Pool Amount $335,002,547.77
Beginning Pool Balance $126,201,758.79
Beginning Pool Factor 0.3767188
Principal and Interest Collections:
Principal Collected
(Including Servicer Advance Repay) $8,029,185.79
Interest Collected $963,182.05
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds/Recoveries $167,464.36
Total Additional Deposits $167,464.36
Repos/Chargeoffs $156,415.59
Aggregate Number of Notes Charged Off 21
Total Available Funds $9,041,062.42
Ending Pool Balance $118,134,927.19
Ending Pool Factor 0.3526389
Servicing Fee $105,168.13
Repayment of Servicer Advances $118,769.78
Reserve Account:
Beginning Balance $9,512,296.39
Target Percentage 7.50%
Target Balance $8,860,119.54
Minimum Balance $6,700,050.96
(Release)/Deposit $(652,176.85)
Ending Balance $8,860,119.54
</TABLE>
<TABLE>
<CAPTION>
Dollars Notes
<S> <C> <C>
Delinquencies:
Installments:
1-30 days 952,373.30 758
31-60 days 146,647.17 130
60+ days 39,026.48 35
Total 1,138,046.95 772
Balances:
60+ days 465,259.59 35
Memo Item - Reserve Account
Prior Month $9,465,131.91
Invest. Income 47,164.48
Beginning Balance $9,512,296.39
</TABLE>
<PAGE>
<PAGE>
Exhibit 20.1
Page 2 of 3
Navistar Financial 1993-A Owner Trust
For the Month of May 1995
<TABLE>
<CAPTION>
[--------------NOTES------------]
CLASS A-1
TOTAL (MONEY MARKET) CLASS A-2 CERTIFICATES
<S> <C> <C> <C> <C>
Original
Pool Amount Dist.: $335,002,547.77 $127,300,000.00 $195,976,000.00 $11,726,547.77
Distribution Percentages 100.00% 95.50% 4.50%
Turbo Percentages 100.00% 0.00% 0.00%
Coupon 3.475% 4.475% 4.800%
Beginning Pool Balance $126,201,758.79
Ending Pool Balance $118,134,927.19
Collected Principal $7,910,416.01
Collected Interest $963,182.05
Charge-Offs $156,415.59
Servicing $105,168.13
Total Collections Available
for Debt Service $8,768,429.93
Beginning Balance $114,951,421.05 $0.00 $107,398,673.98 $7,552,747.07
Interest Due $430,718.55 $0.00 $400,507.56 $30,210.99
Interest Paid $430,718.55 $0.00 $400,507.56 $30,210.99
Principal Due $8,066,831.60 $0.00 $7,703,824.18 $363,007.42
Principal Paid $8,066,831.60 $0.00 $7,703,824.18 $363,007.42
Turbo Principal $0.00 $0.00 $0.00 $0.00
Ending Balance $106,884,589.45 $0.00 $99,694,849.80 $7,189,739.65
Note/Certificate Pool Factor
(Ending Balance/Original Pool Amount) 0.0000000000 0.5087094838 0.6131164761
Total Distributions $8,497,550.15 $0.00 $8,104,331.74 $393,218.41
Interest Shortfall $0.00 $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00 $0.00
Total Shortfall (required from Reserve) $0.00 $0.00 $0.00 $0.00
Excess Servicing $270,879.78
Beginning Reserve Account Balance $9,512,296.39
(Release)/Draw $(652,176.85)
Ending Reserve Account Balance $8,860,119.54
Memo Item - Advances:
Servicer Advances - Current Month $(118,769.78)
Total Outstanding Servicer Advances $2,794,700.76
</TABLE>
<PAGE>
<PAGE>
Exhibit 20.1
Page 3 of 3
Navistar Financial 1993-A Owner Trust
For the Month of May 1995
Trigger Events: A) Loss Trigger
B) Delinquency Trigger
<TABLE>
<CAPTION>
5 4 3 2 1
Jan 1995 Feb 1995 Mar 1995 Apr 1995 May 1995
<S> <C> <C> <C> <C> <C>
Beg. Pool Balance $159,033,206.08 $150,236,079.05 $141,826,345.98 $133,656,652.98 $126,201,758.79
A) Loss Trigger:
Principal of Contracts
Charged off $123,164.08 $99,484.41 $133,880.91 $179,609.57 $156,415.59
Recoveries $131,463.16 $1,084.30 $228,450.98 $84,665.15 $167,464.36
Total Charged off
(Months 5,4,3) $356,529.40
Total Recoveries
(Months 3,2,1) 480,580.49
Net Loss/(Recoveries)
for 3 Mos. $(124,051.09)(a)
Total Balance
(Months 5,4,3) $451,095,631.11(b)
Loss Ratio [(a/b)(12)] (0.3300)%
Trigger:
Is Ratio> 1.5% No
B) Delinquency Trigger:
Balance delinquency
60+ days $598,389.48 $387,235.84 $465,259.59
As % of Beginning
Pool Balance 0.42192% 0.28972% 0.36866%
Three Month Average 0.29339% 0.32083% 0.36010%
Trigger:
Is Average> 2.0% No
</TABLE>
Navistar Financial Corporation
by:/s/R. W. CAIN
R. W. CAIN
Vice President and Treasurer
<PAGE>
Exhibit 20.2
Page 1 of 3
Navistar Financial 1994-A Owner Trust
For the Month of May 1995
Distribution Date of June 15, 1995
<TABLE>
<S> <C>
Original Pool Amount $280,021,471.35
Beginning Pool Balance $175,626,121.20
Beginning Pool Factor 0.6271881
Principal and Interest Collections:
Principal Collected
(Including Servicer Advance Repay) $6,683,957.37
Interest Collected $1,269,175.86
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds/Recoveries $264,905.32
Total Additional Deposits $264,905.32
Repos/Chargeoffs $131,502.23
Aggregate Number of Notes Charged Off 14
Total Available Funds $8,218,038.55
Ending Pool Balance $168,810,661.60
Ending Pool Factor 0.6028490
Servicing Fee $146,355.10
Repayment of Servicer Advances $0.00
Reserve Account:
Beginning Balance $11,472,579.29
Target Percentage 6.50%
Target Balance $10,972,693.00
Minimum Balance $5,600,429.43
(Release)/Deposit $(499,886.28)
Ending Balance $10,972,693.00
</TABLE>
<TABLE>
<CAPTION>
Dollars Notes
<S> <C> <C>
Delinquencies:
Installments:
1-30 days 1,145,037.47 1,026
31-60 days 110,569.20 117
60+ days 26,838.06 22
Total 1,282,444.73 1,028
Balances:
60+ days 375,105.45 22
Memo Item - Reserve Account
Prior Month $11,415,697.88
+ Invest. Income 56,881.41
- Withdrawal 0.00
Beginning Balance $11,472,579.29
</TABLE>
<PAGE>
<PAGE>
Exhibit 20.2
Page 2 of 3
Navistar Financial 1994-A Owner Trust
For the Month of May 1995
<TABLE>
<CAPTION>
[--------------NOTES------------]
CLASS A-1
TOTAL (MONEY MARKET) CLASS A-2 CERTIFICATES
<S> <C> <C> <C> <C>
Original
Pool Amount Dist.: $280,021,471.35 $89,606,000.00 $180,614,000.00 $9,801,471.35
Distribution Percentages 100.00% 95.50% 4.50%
Turbo Percentages 100.00% 0.00% 0.00%
Coupon 4.531% 5.930% 6.260%
Beginning Pool Balance $175,626,121.20
Ending Pool Balance $168,810,661.60
Collected Principal $6,683,957.37
Collected Interest $1,269,175.86
Charge-Offs $131,502.23
Servicing $146,355.10
Cash Transfer from Reserve Account $0.00
Total Collections Available
for Debt Service $7,806,778.13
Beginning Balance $169,810,845.47 $0.00 $160,936,582.28 $8,874,263.19
Interest Due $841,589.01 $0.00 $795,294.94 $46,294.07
Interest Paid $841,589.01 $0.00 $795,294.94 $46,294.07
Principal Due $6,815,459.60 $0.00 $6,508,763.92 $306,695.68
Principal Paid $6,815,459.60 $0.00 $6,508,763.92 $306,695.68
Turbo Principal $0.00 $0.00 $0.00 $0.00
Ending Balance $162,995,385.87 $0.00 $154,427,818.37 $8,567,567.50
Note/Certificate Pool Factor
(Ending Balance/Original Pool Amount) 0.00 0.8550157705 0.8741103450
Total Distributions $7,657,048.61 $0.00 $7,304,058.86 $352,989.75
Interest Shortfall $0.00 $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00 $0.00
Total Shortfall (required from Reserve) $0.00 $0.00 $0.00 $0.00
Excess Servicing $149,729.52
Beginning Reserve Account Balance $11,472,579.29
(Release)/Draw $(499,886.28)
Ending Reserve Account Balance $10,972,693.00
Memo Item - Advances:
Servicer Advances - Current Month $76,524.33
Total Outstanding Servicer Advances $2,634,375.20
</TABLE>
<PAGE>
<PAGE>
Exhibit 20.2
Page 3 of 3
Navistar Financial 1994-A Owner Trust
For the Month of May 1995
Trigger Events: A) Loss Trigger
B) Delinquency Trigger
<TABLE>
<CAPTION>
5 4 3 2 1
Jan 1995 Feb 1995 Mar 1995 Apr 1995 May 1995
<S> <C> <C> <C> <C> <C>
Beg. Pool Balance $206,379,528.78 $198,921,224.81 $191,225,748.38 $183,607,976.18 $175,626,121.20
A) Loss Trigger:
Principal of Contracts
Charged off $278,730.90 $355,748.09 $54,301.50 $256,743.69 $131,502.23
Recoveries $98,943.32 $81,007.02 $409,655.39 $62,308.63 $264,905.32
Total Charged off
(Months 5,4,3) $688,780.49
Total Recoveries
(Months 3,2,1) 736,869.34
Net Loss/(Recoveries)
for 3 Mos. $(48,088.85)(a)
Total Balance
(Months 5,4,3) $596,526,501.97(b)
Loss Ratio [(a/b)(12)] (0.0967%)
Trigger:
Is Ratio> 1.5% No
B) Delinquency Trigger:
Balance delinquency
60+ days $1,117,386.14 $306,306.66 $375,105.45
As % of Beginning
Pool Balance 0.58433% 0.16683% 0.21358%
Three Month Average 0.38199% 0.33112% 0.32158%
Trigger:
Is Average> 2.0% No
</TABLE>
Navistar Financial Corporation
by:/s/R. W. CAIN
R. W. CAIN
Vice President and Treasurer
<PAGE>
Exhibit 20.3
Page 1 of 3
Navistar Financial 1994-B Owner Trust
For the Month of May 1995
Distribution Date of June 15, 1995
<TABLE>
<S> <C>
Original Pool Amount $215,029,773.64
Beginning Pool Balance $160,122,398.57
Beginning Pool Factor 0.7446522
Principal and Interest Collections:
Principal Collected
(Including Servicer Advance Repay) $5,303,479.82
Interest Collected $1,219,071.09
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds/Recoveries $572,354.58
Total Additional Deposits $572,354.58
Repos/Chargeoffs $171,522.06
Aggregate Number of Notes Charged Off 27
Total Available Funds $7,003,094.57
Ending Pool Balance $154,739,207.61
Ending Pool Factor 0.7196176
Servicing Fee $133,435.33
Repayment of Servicer Advances $91,810.92
Reserve Account:
Beginning Balance $10,459,814.42
Target Percentage 6.50%
Target Balance $10,058,048.49
Minimum Balance $4,300,595.47
(Release)/Deposit $(401,765.92)
Ending Balance $10,058,048.50
</TABLE>
<TABLE>
<CAPTION>
Dollars Notes
<S> <C> <C>
Delinquencies:
Installments:
1-30 days 812,404.07 708
31-60 days 86,346.01 87
60+ days 17,991.32 13
Total 916,741.40 709
Balances:
60+ days 364,820.05 13
Memo Item - Reserve Account
Prior Month $10,407,955.91
+ Invest. Income 51,858.51
- Withdrawal 0.00
Beginning Balance $10,459,814.42
</TABLE>
<PAGE>
<PAGE>
Exhibit 20.3
Page 2 of 3
Navistar Financial 1994-B Owner Trust
For the Month of May 1995
<TABLE>
<CAPTION>
TOTAL NOTES CERTIFICATES
<S> <C> <C> <C>
Original
Pool Amount Dist.: $215,029,773.64 $207,503,000.00 $7,526,773.64
Distribution Percentage 96.50% 3.50%
Coupon 6.400% 6.625%
Beginning Pool Balance $160,122,398.57
Ending Pool Balance $154,739,207.61
Collected Principal $5,211,668.90
Collected Interest $1,219,071.09
Charge-Offs $171,522.06
Servicing $133,435.33
Cash Transfer from Reserve Account $0.00
Total Collections Available
for Debt Service $6,297,304.66
Beginning Balance $159,718,673.68 $154,127,788.53 $5,590,885.15
Interest Due $852,881.22 $822,014.87 $30,866.35
Interest Paid $852,881.22 $822,014.87 $30,866.35
Principal Due $5,383,190.96 $5,194,779.28 $188,411.68
Principal Paid $5,383,190.96 $5,194,779.28 $188,411.68
Ending Balance $154,335,482.71 $148,933,009.25 $5,402,473.46
Note/Certificate Pool Factor
(Ending Balance/Original Pool Amount) 0.7177390652 0.7177674952
Total Distributions $6,236,072.18 $6,016,794.15 $219,278.03
Interest Shortfall $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00
Total Shortfall (required from Reserve) $0.00 $0.00 $0.00
Excess Servicing $61,232.47
Beginning Reserve Account Balance $10,459,814.42
(Release)/Draw $(401,765.92)
Ending Reserve Account Balance $10,058,048.50
Memo Item - Advances:
Servicer Advances - Current Month $(91,810.92)
Total Outstanding Servicer Advances $1,601,378.19
</TABLE>
<PAGE>
<PAGE>
Exhibit 20.3
Page 3 of 3
Navistar Financial 1994-B Owner Trust
For the Month of May 1995
Trigger Events: A) Loss Trigger
B) Delinquency Trigger
<TABLE>
<CAPTION>
5 4 3 2 1
Jan 1995 Feb 1995 Mar 1995 Apr 1995 May 1995
<S> <C> <C> <C> <C> <C>
Beg. Pool Balance $181,848,004.17 $176,963,307.51 $171,407,615.31 $165,999,038.63 $160,122,398.57
A) Loss Trigger:
Principal of Contracts
Charged off $119,312.68 $421,343.14 $47,892.56 $671,427.43 $171,522.06
Recoveries $37,276.16 $36,794.47 $125,718.00 $339,848.82 $572,354.58
Total Charged off
(Months 5,4,3) $ 588,548.38
Total Recoveries
(Months 3,2,1) 1,037,921.40
Net Loss/(Recoveries)
for 3 Mos. $(449,373.02)(a)
Total Balance
(Months 5,4,3) $530,218,926.99(b)
Loss Ratio [(a/b)(12)] (1.0170)%
Trigger:
Is Ratio> 1.5% No
B) Delinquency Trigger:
Balance delinquency
60+ days $697,344.14 $401,032.51 $364,820.05
As % of Beginning
Pool Balance 0.40683% 0.24159% 0.22784%
Three Month Average 0.34514% 0.33963% 0.29209%
Trigger:
Is Average> 2.0% No
</TABLE>
Navistar Financial Corporation
by:/s/R. W. CAIN
R. W. CAIN
Vice President and Treasurer
<PAGE>
Exhibit 20.4
Page 1 of 3
Navistar Financial 1994-C Owner Trust
For the Month of May 1995
Distribution Date of June 20, 1995
<TABLE>
<S> <C>
Original Pool Amount $315,029,921.60
Beginning Pool Balance $267,465,631.09
Beginning Pool Factor 0.8490166
Principal and Interest Collections:
Principal Collected
(Including Servicer Advance Repay) $7,381,494.73
Interest Collected $2,224,824.46
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds/Recoveries $183,131.87
Total Additional Deposits $183,131.87
Repos/Chargeoffs $188,306.09
Aggregate Number of Notes Charged Off 17
Total Available Funds $9,789,451.06
Ending Pool Balance $259,895,830.27
Ending Pool Factor 0.8249878
Servicing Fee $222,888.03
Repayment of Servicer Advances $0.00
Reserve Account:
Beginning Balance $16,122,419.11
Target Percentage 6.00%
Target Balance $15,593,749.82
Minimum Balance $6,615,628.35
(Release)/Deposit $(528,669.29)
Ending Balance $15,593,749.82
</TABLE>
<TABLE>
<CAPTION>
Dollars Notes
<S> <C> <C>
Delinquencies:
Installments:
1-30 days 1,422,659.59 974
31-60 days 145,439.01 131
60+ days 26,192.73 23
Total 1,594,291.33 975
Balances:
60+ days 571,744.30 23
Memo Item - Reserve Account
Prior Month $16,047,937.87
+ Invest. Income 74,481.24
- Withdrawal 0.00
Beginning Balance $16,122,419.11
</TABLE>
<PAGE>
<PAGE>
Exhibit 20.4
Page 2 of 3
Navistar Financial 1994-C Owner Trust
For the Month of May 1995
<TABLE>
<CAPTION>
[--------------NOTES------------]
CLASS A-1
TOTAL (MONEY MARKET) CLASS A-2 CERTIFICATES
<S> <C> <C> <C> <C>
Original
Pool Amount Dist.: $315,029,921.60 $207,000,000.00 $97,000,000.00 $11,029,921.60
Distribution Percentages 96.50% 0.00% 3.50%
Coupon 7.650% 8.000% 8.300%
Beginning Pool Balance $267,465,631.09
Ending Pool Balance $259,895,830.27
Collected Principal $7,381,494.73
Collected Interest $2,224,824.46
Charge-Offs $188,306.09
Servicing $222,888.03
Cash Transfer from Reserve Acount $0.00
Total Collections Available
for Debt Service $9,383,431.16
Beginning Balance $267,152,607.91 $159,122,686.31 $97,000,000.00 $11,029,921.60
Interest Due $1,737,364.09 $1,014,407.13 $646,666.67 $76,290.29
Interest Paid $1,737,364.09 $1,014,407.13 $646,666.67 $76,290.29
Principal Due $7,569,800.82 $7,304,857.79 $0.00 $264,943.03
Principal Paid $7,569,800.82 $7,304,857.79 $0.00 $264,943.03
Ending Balance $259,582,807.09 $151,817,828.52 $97,000,000.00 $10,764,978.57
Note/Certificate Pool Factor
(Ending Balance/Original Pool Amount) 0.7334194614 1.0000000000 0.9759796091
Total Distributions $9,307,164.91 $8,319,264.92 $646,666.67 $341,233.32
Interest Shortfall $0.00 $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00 $0.00
Total Shortfall (required from Reserve) $0.00 $0.00 $0.00 $0.00
Excess Servicing $76,266.26
Beginning Reserve Account Balance $16,122,419.11
(Release)/Draw $(528,669.29)
Ending Reserve Account Balance $15,593,749.82
Memo Item - Advances:
Servicer Advances - Current Month $126,210.78
Total Outstanding Servicer Advances $2,777,418.74
</TABLE>
<PAGE>
<PAGE>
Exhibit 20.4
Page 3 of 3
Navistar Financial 1994-C Owner Trust
For the Month of May 1995
Trigger Events: A) Loss Trigger
B) Delinquency Trigger
<TABLE>
<CAPTION>
5 4 3 2 1
Jan 1995 Feb 1995 Mar 1995 Apr 1995 May 1995
<S> <C> <C> <C> <C> <C>
Beg. Pool Balance $299,440,328.15 $292,007,535.40 $283,644,074.75 $275,352,505.86 $267,465,631.09
A) Loss Trigger:
Principal of Contracts
Charged off $89,289.62 $246,317.21 $162,132.14 $221,953.40 $188,306.09
Recoveries $17,510.43 $89,233.40 $206,279.35 $94,980.59 $183,131.87
Total Charged off
(Months 5,4,3) $497,738.97
Total Recoveries
(Months 3,2,1) 484,391.81
Net Loss/(Recoveries)
for 3 Mos. $13,347.16(a)
Total Balance
(Months 5,4,3) $875,091,938.30(b)
Loss Ratio [(a/b)(12)] 0.0183%
Trigger:
Is Ratio> 1.5% No
B) Delinquency Trigger:
Balance delinquency
60+ days $810,341.73 $682,615.73 $571,744.30
As % of Beginning
Pool Balance 0.28569% 0.24791% 0.21376%
Three Month Average 0.22563% 0.24477% 0.24912%
Trigger:
Is Average> 2.0% No
</TABLE>
Navistar Financial Corporation
by:/s/R. W. CAIN
R. W. CAIN
Vice President and Treasurer
<PAGE>
Exhibit 20.5
Page 1 of 3
Navistar Financial 1995-A Owner Trust
For the Month of May 1995
Distribution Date of June 20, 1995
<TABLE>
<S> <C>
Original Pool Amount $424,879,281.80
Beginning Pool Balance $424,879,281.80
Beginning Pool Factor 100.0000000
Principal and Interest Collections:
Principal Collected
(Including Servicer Advance Repay) $10,206,159.46
Interest Collected $3,769,852.69
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds/Recoveries $0.00
Total Additional Deposits $0.00
Repos/Chargeoffs $64,933.51
Aggregate Number of Notes Charged Off 0
Total Available Funds $13,976,012.15
Ending Pool Balance $414,608,188.83
Ending Pool Factor 0.9758259
Servicing Fee $354,066.07
Repayment of Servicer Advances $0.00
Reserve Account:
Beginning Balance $25,597,633.00
Target Percentage 6.00%
Target Balance $24,876,491.33
Minimum Balance $8,922,464.92
(Release)/Deposit $(721,141.67)
Ending Balance $24,876,491.33
</TABLE>
<TABLE>
<CAPTION>
Dollars Notes
<S> <C> <C>
Delinquencies:
Installments:
1-30 days 1,654,764.57 1,145
31-60 days 106,658.08 102
60+ days 6,290.19 5
Total 1,767,712.84 1,145
Balances:
60+ days 241,605.37 5
Memo Item - Reserve Account
Prior Month $25,492,756.91
+ Invest. Income 104,876.09
- Withdrawal 0.00
Beginning Balance $25,597,633.00
</TABLE>
<PAGE>
<PAGE>
Exhibit 20.5
Page 2 of 3
Navistar Financial 1995-A Owner Trust
For the Month of May 1995
<TABLE>
<CAPTION>
[--------------NOTES------------]
TOTAL CLASS A-1 CLASS A-2 CERTIFICATES
<S> <C> <C> <C> <C>
Original
Pool Amount Dist.: $424,879,281.80 $80,000,000.00 $330,000,000.00 $14,879,281.80
Distribution Percentages 100.00% 0.00% 0.00%
Coupon 5.900% 6.550% 6.850%
Beginning Pool Balance $424,879,281.80
Ending Pool Balance $414,608,188.83
Collected Principal $10,206,159.46
Collected Interest $3,769,852.69
Charge-Offs $64,933.51
Servicing $354,066.07
Cash Transfer from Reserve Acount $0.00
Total Collections Available
for Debt Service $13,621,946.08
Beginning Balance $424,879,281.80 $80,000,000.00 $330,000,000.00 $14,879,281.80
Interest Due $1,975,583.33 $340,888.89 $1,561,083.33 $73,611.11
Interest Paid $1,975,583.33 $340,888.89 $1,561,083.33 $73,611.11
Principal Due $10,271,092.97 $10,271,092.97 $0.00 $0.00
Principal Paid $10,271,092.97 $10,271,092.97 $0.00 $0.00
Ending Balance $414,608,188.83 $69,728,907.03 $330,000,000.00 $14,879,281.80
Note/Certificate Pool Factor
(Ending Balance/Original Pool Amount) 0.8716113379 1.0000000000 1.0000000000
Total Distributions $12,246,676.30 $10,611,981.86 $1,561,083.33 $73,611.11
Interest Shortfall $0.00 $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00 $0.00
Total Shortfall (required from Reserve) $0.00 $0.00 $0.00 $0.00
Excess Servicing $1,375,269.78
Beginning Reserve Account Balance $25,597,633.00
(Release)/Draw $(721,141.67)
Ending Reserve Account Balance $24,876,491.33
Memo Item - Advances:
Servicer Advances - Current Month $2,068,199.62
Total Outstanding Servicer Advances $2,068,199.62
</TABLE>
<PAGE>
<PAGE>
Exhibit 20.5
Page 3 of 3
Navistar Financial 1995-A Owner Trust
For the Month of May 1995
Trigger Events: A) Loss Trigger
B) Delinquency Trigger
<TABLE>
<CAPTION>
5 4 3 2 1
May 1995 Jun 1995 Jul 1995 Aug 1995 Sep 1995
<S> <C>
Beg. Pool Balance $424,879,281.80
A) Loss Trigger:
Principal of Contracts
Charged off $64,933.51
Recoveries $0.00
Total Charged off
(Months 5,4,3) $64,933.51
Total Recoveries
(Months 3,2,1) 0.00
Net Loss/(Recoveries)
for 3 Mos. $64,933.51(a)
Total Balance
(Months 5,4,3) $424,879,281.80(b)
Loss Ratio [(a/b)(12)] 0.1834%
Trigger:
Is Ratio> 1.5% No
B) Delinquency Trigger:
Balance delinquency
60+ days $241,605.37
As % of Beginning
Pool Balance 0.05686%
Three Month Average 0.05686%
Trigger:
Is Average> 2.0% No
</TABLE>
Navistar Financial Corporation
by:/s/R. W. CAIN
R. W. CAIN
Vice President and Treasurer
<PAGE>
