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) November 20, 2000
NAVISTAR FINANCIAL RETAIL RECEIVABLES CORPORATION on behalf of
NAVISTAR FINANCIAL 1996-B OWNER TRUST,
NAVISTAR FINANCIAL 1997-A OWNER TRUST,
NAVISTAR FINANCIAL 1997-B OWNER TRUST,
NAVISTAR FINANCIAL 1998-A OWNER TRUST,
NAVISTAR FINANCIAL 1999-A OWNER TRUST AND
NAVISTAR FINANCIAL 2000-A OWNER TRUST
(Exact name of Registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
33-55865 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 847-734-4000
<PAGE>
FORM 8-K
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events.
On November 27, 2000, Registrant made available the
Monthly Servicer Certificates for the Period of October 2000
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 1996-B OWNER TRUST,
NAVISTAR FINANCIAL 1997-A OWNER TRUST,
NAVISTAR FINANCIAL 1997-B OWNER TRUST,
NAVISTAR FINANCIAL 1998-A OWNER TRUST,
NAVISTAR FINANCIAL 1999-A OWNER TRUST AND
NAVISTAR FINANCIAL 2000-A OWNER TRUST
(Exact name of Registrant as specified in its charter)
Date: December 7, 2000 By:/s/ R. D. MARKLE
---------------------------- --------------------------
R. D. MARKLE
Vice President & Controller
<PAGE>
FORM 8-K
EXHIBIT INDEX
Exhibit No. Description
Navistar Financial 1996-B Owner Trust
20.1 Monthly Servicer Certificate, dated November 20, 2000
Navistar Financial 1997-A Owner Trust
20.2 Monthly Servicer Certificate, dated November 15, 2000
Navistar Financial 1997-B Owner Trust
20.3 Monthly Servicer Certificate, dated November 15, 2000
Navistar Financial 1998-A Owner Trust
20.4 Monthly Servicer Certificate, dated November 15, 2000
Navistar Financial 1999-A Owner Trust
20.5 Monthly Servicer Certificate, dated November 15, 2000
Navistar Financial 2000-A Owner Trust
20.6 Monthly Servicer Certificate, dated November 15, 2000
<PAGE>
Exhibit 20.1
Navistar Financial 1996 - B Owner Trust
For the Month of October, 2000
Distribution Date of November 20, 2000
Servicer Certificate #49
Original Pool Amount $486,507,362.75
Beginning Pool Balance $30,477,415.95
Beginning Pool Factor 0.0626453
Principal and Interest Collections:
Principal Collected (Incl. Servicer Advance Repay) $3,742,871.39
Interest Collected $236,544.16
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds / Recoveries $206,880.61
Total Additional Deposits $206,880.61
Repos / Chargeoffs $17,217.73
Aggregate Number of Notes Charged Off 85
Total Available Funds $3,458,925.57
Ending Pool Balance $27,444,697.42
Ending Pool Factor 0.0564117
Servicing Fee $25,397.85
Repayment of Servicer Advances $727,370.59
Reserve Account:
Beginning Balance (see Memo Item) $10,017,169.53
Target Percentage 10.00%
Target Balance $2,744,469.74
Minimum Balance $9,730,147.26
(Release) / Deposit ($287,022.27)
Ending Balance $9,730,147.26
Current Weighted Average APR: 9.220%
Current Weighted Average Remaining Term (months): 10.09
Delinquencies Dollars Notes
Installments: 1 - 30 days $611,769.62 413
31 - 60 days $211,980.27 121
60+ days $132,455.06 47
Total: $956,204.95 436
Balances: 60+ days $611,024.36 47
Memo Item - Reserve Account
Prior Month $9,730,147.26
+ Invest. Income $51,481.23
+ Excess Serv. $235,541.04
+ Transfer (to) / from Collections Account $0.00
Beginning Balance $10,017,169.53
<PAGE>
Navistar Financial 1996 - B Owner Trust
For the Month of October, 2000
<TABLE>
<CAPTION>
NOTES
<S> <C> <C> <C> <C> <C> <C>
CLASS B CLASS C
TOTAL CLASS A - 1 CLASS A - 2 CLASS A - 2 CERTIFICATES CERTIFICATES
$486,507,362.75 $106,500,000.00 111,900,000.00 $236,500,000.00 $17,028,000.00 $14,579,362.75
Original Pool Amount
Distributions:
Distribution Percentages 0.00% 0.00% 93.50% 3.50% 3.00%
Coupon 5.49% 5.93% 6.33% 6.50% 7.45%
Beginning Pool Balance $30,477,415.95
Ending Pool Balance $27,444,697.42
Collected Principal $3,015,500.80
Collected Interest $236,544.16
Charge - Offs $17,217.73
Liquidation Proceeds / Recoveries $206,880.61
Servicing $25,397.85
Cash Transfer from Reserve Account $0.00
Total Collections Avail for Debt Service $3,433,527.72
Beginning Balance $30,477,415.97 $0.00 $0.00 $21,589,499.76 $4,794,441.72 $4,093,474.49
Interest Due $165,268.15 $0.00 $0.00 $113,884.61 $25,969.89 $25,413.65
Interest Paid $165,268.15 $0.00 $0.00 $113,884.61 $25,969.89 $25,413.65
Principal Due $3,032,718.53 $0.00 $0.00 $2,835,591.83 $106,145.15 $90,981.56
Principal Paid $3,032,718.53 $0.00 $0.00 $2,835,591.83 $106,145.15 $90,981.56
Ending Balance $27,444,697.44 $0.00 $0.00 $18,753,907.93 $4,688,296.57 $4,002,492.93
Note / Certificate Pool Factor 0.0000 0.0000 0.0793 0.2753 0.2745
(Ending Balance / Original Pool Amount)
Total Distributions $3,197,986.68 $0.00 $0.00 $2,949,476.44 $132,115.04 $116,395.21
Interest Shortfall $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Total Shortfall $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
(required from Reserve)
Excess Servicing $235,541.04
(see Memo Item - Reserve Account)
Beginning Reserve Acct Balance $10,017,169.53
(Release) / Draw ($287,022.27)
Ending Reserve Acct Balance $9,730,147.26
</TABLE>
<PAGE>
Navistar Financial 1996 - B Owner Trust
For the Month of October, 2000
Trigger Events:
A) Loss Trigger - Reserve Account Balance
Loss Trigger - Certificate Lockout Event
B) Delinquency Trigger
C) Noteholders Percent Trigger
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
6 5 4 3 2 1
May-00 Jun-00 Jul-00 Aug-00 Sep-00 Oct-00
Beginning Pool Balance $49,552,250.82 $45,146,253.30 $41,138,757.63 $37,279,292.27 $33,467,159.40 $30,477,415.95
A) Loss Trigger:
Principal of Contracts Charged Off $66,833.71 $147,950.25 $39,038.88 $117,267.19 $48,554.00 $17,217.73
Recoveries $12,706.44 $35,816.44 $28,445.48 $111,768.33 $21,644.75 $206,880.61
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <S> <C>
Loss Trigger - Reserve Account Balance Loss Trigger - Certificate Lockout Event
Total Charged Off (Months 5, 4, 3) $304,256.32 Total Charged off (Months 1 - 6) $436,861.76
Total Recoveries (Months 3, 2, 1) $340,293.69 Total Recoveries (Months 1 - 6) $417,262.05
Net Loss / (Recoveries) for 3 Mos ($36,037.37)(a) Net Loss/(Recoveries) for 6 Mos. $19,599.71(c)
Total Balance (Months 5, 4, 3) $123,564,303.20(b) Total Balance (Months 1 - 6) $237,061,129.37(d)
Loss Ratio Annualized [(a/b) * (12)] -0.3500% Loss Ratio Annualized [(c/d) (12)] 0.09921%
Trigger: Is Ratio > 1.5% No Trigger: Is Ratio > 6.0% No
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Aug-00 Sep-00 Oct-00
B) Delinquency Trigger: $856,833.37 $654,391.75 $611,024.36
Balance delinquency 60+ days 2.29842% 1.95533% 2.00484%
As % of Beginning Pool Balance 3.19353% 2.56090% 2.08619%
Three Month Average
</TABLE>
Trigger: Is Average > 2.0% Yes
C) Noteholders Percent Trigger: 2.0000%
Ending Reserve Account Balance
not less than 1% of Initial Aggregate
Receivables Balance
Trigger: Is Minimum < 1.0% No
Navistar Financial Corporation
by: /s/ R. W. Cain
R. W. Cain
Vice President and Treasurer
<PAGE>
Exhibit 20.2
Navistar Financial 1997 - A Owner Trust
For the Month of October, 2000
Distribution Date of November 15, 2000
Servicer Certificate #43
Original Pool Amount Initial Receivables $411,613,980.45
Subsequent Receivables (transferred 5/9/97) $76,128,743.83
Subsequent Receivables (transferred 5/23/97) $12,254,010.44
Beginning Pool Balance $50,402,324.32
Beginning Pool Factor 0.1033379
Principal and Interest Collections:
Principal Collected (Incl. Servicer Advance Repay) $4,407,829.27
Interest Collected $406,291.75
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds / Recoveries $1,033,884.29
Total Additional Deposits $1,033,884.29
Repos / Chargeoffs $91,977.08
Aggregate Number of Notes Charged Off 195
Total Available Funds $5,662,403.92
Ending Pool Balance $46,088,119.36
Ending Pool Factor 0.0944927
Servicing Fee $42,001.94
Repayment of Servicer Advances $185,601.39
Reserve Account:
Beginning Balance (see Memo Item) $10,166,147.16
Target Percentage 10.00%
Target Balance $4,608,811.94
Minimum Balance $10,499,931.43
(Release) / Deposit ($43,705.55)
Ending Balance $10,122,441.61
Current Weighted Average APR: 9.520%
Current Weighted Average Remaining Term (months): 15.23
Delinquencies Dollars Notes
Installments: 1 - 30 days $838,370.79 566
31 - 60 days $285,759.72 169
60+ days $231,594.51 72
Total: $1,355,725.02 584
Balances: 60+ days $1,170,053.62 72
Memo Item - Reserve Account
Prior Month $9,102,674.33
+ Invest. Income $43,705.55
+ Excess Serv. $1,019,767.28
+ Transfer (to) / from Collections Account $43,705.55
Beginning Balance $10,166,147.16
<PAGE>
Navistar Financial 1997 - A Owner Trust
For the Month of October, 2000
<TABLE>
<CAPTION>
NOTES
(Money Market)
<S> <C> <C> <C> <C> <C>
TOTAL CLASS A - 1 CLASS A - 2 CLASS A - 3 CLASS B NOTES
$500,000,000.00 $85,000,000.00 $221,500,000.00 $176,000,000.00 $17,500,000.00
Original Pool Amount
Distributions:
Distribution Percentages 0.00% 0.00% 100.00% 0.00%
Coupon 5.84% 6.35% 6.75% 6.95%
Beginning Pool Balance $50,402,324.32
Ending Pool Balance $46,088,119.36
Collected Principal $4,222,227.88
Collected Interest $406,291.75
Charge - Offs $91,977.08
Liquidation Proceeds / Recoveries $1,033,884.29
Servicing $42,001.94
Cash Transfer from Reserve Account $0.00
Total Collections Avail for Debt Service $5,620,401.98
Beginning Balance $50,402,324.32 $0.00 $0.00 $32,902,324.32 $17,500,000.00
Interest Due $286,429.74 $0.00 $0.00 $185,075.57 $101,354.17
Interest Paid $286,429.74 $0.00 $0.00 $185,075.57 $101,354.17
Principal Due $4,314,204.96 $0.00 $0.00 $4,314,204.96 $0.00
Principal Paid $4,314,204.96 $0.00 $0.00 $4,314,204.96 $0.00
Ending Balance $46,088,119.36 $0.00 $0.00 $28,588,119.36 $17,500,000.00
Note / Certificate Pool Factor 0.0000 0.0000 0.1624 1.0000
(Ending Balance / Original Pool Amount)
Total Distributions $4,600,634.70 $0.00 $0.00 $4,499,280.53 $101,354.17
Interest Shortfall $0.00 $0.00 $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00 $0.00 $0.00
Total Shortfall $0.00 $0.00 $0.00 $0.00 $0.00
(required from Reserve)
Excess Servicing $1,019,767.28
(see Memo Item - Reserve Account)
Beginning Reserve Acct Balance $10,166,147.16
(Release) / Draw ($43,705.55)
Ending Reserve Acct Balance $10,122,441.61
</TABLE>
<PAGE>
Navistar Financial 1997 - A Owner Trust
For the Month of October, 2000
Trigger Events:
A) Loss Trigger
B) Delinquency Trigger
C) Noteholders Percent Trigger
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
5 4 3 2 1
Jun-00 Jul-00 Aug-00 Sep-00 Oct-00
Beginning Pool Balance $72,015,896.82 $66,632,300.31 $61,819,295.87 $55,033,484.89 $50,402,324.32
A) Loss Trigger:
Principal of Contracts Charged Off $178,546.49 $301,879.18 $1,050,448.75 $136,763.42 $91,977.08
Recoveries $506,889.99 $222,782.98 $195,037.80 $481,343.51 $1,033,884.29
Total Charged Off (Months 5, 4, 3) $1,530,874.42
Total Recoveries (Months 3, 2, 1) $1,710,265.60
Net Loss / (Recoveries) for 3 Mos ($179,391.18)(a)
</TABLE>
Total Balance (Months 5, 4, 3) $200,467,493.00(b)
Loss Ratio Annualized [(a/b) * (12)] -1.0738%
Trigger: Is Ratio > 1.5% No
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Aug-00 Sep-00 Oct-00
B) Delinquency Trigger: $1,441,691.91 $1,189,430.58 $1,170,053.62
Balance delinquency 60+ days 2.33211% 2.16129% 2.32143%
As % of Beginning Pool Balance 2.98826% 2.56325% 2.27161%
Three Month Average
</TABLE>
Trigger: Is Average > 2.0% Yes
C) Noteholders Percent Trigger: 2.0245%
Ending Reserve Account Balance
not less than 1% of Initial Aggregate
Receivables Balance
Trigger: Is Minimum < 1.0% No
Navistar Financial Corporation
by: /s/ R. W. Cain
R. W. Cain
Vice President and Treasurer
<PAGE>
Exhibit 20.3
Navistar Financial 1997 - B Owner Trust
For the Month of October2000
Distribution Date of November 15, 2000
Servicer Certificate #37
Original Pool amount Initial Receivables $408,527,638.36
Subsequent Receivables (transferred 11/13/97) $91,466,751.20
Beginning Pool Balance $98,965,844.59
Beginning Pool Factor 0.1979339
Principal and Interest Collections:
Principal Collected (Incl. Servicer Advance $7,460,706.39
Interest Collected $831,172.02
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds / Recoveries $482,106.55
Total Additional Deposits $482,106.55
Repos / Chargeoffs $296,249.71
Aggregate Number of Notes Charged Off 165
Total Available Funds $8,773,984.96
Ending Pool Balance $91,208,888.49
Ending Pool Factor 0.1824198
Servicing Fee $82,471.54
Repayment of Servicer Advances $0.00
Reserve Account:
Beginning Balance (see Memo Item) $10,468,356.07
Target Percentage 10.00%
Target Balance $9,120,888.85
Minimum Balance $9,999,887.79
(Release) / Deposit ($468,468.28)
Ending Balance $9,999,887.79
Current Weighted Average APR: 9.384%
Current Weighted Average Remaining Term (months) 20.36
Delinquencies Dollars Notes
------- -----
Installment1:- 30 days 1,930,210.02 928
31 - 60 days 800,025.76 246
60+ days 274,520.53 114
Total: 3,004,756.31 954
Balances: 60+ days 2,536,698.26 114
Memo Item - Reserve Account
Prior Month $9,999,887.79
+ Invest. Income $53,481.64
+ Excess Serv. $414,986.64
+ Transfer (to)/from Collections Account $0.00
Beginning Balance $10,166,147.16
<PAGE>
Navistar Financial 1997 - B Owner Trust
For the Month of October 2000 NOTES
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
TOTAL CLASS A - 1 CLASS A - 2 CLASS A - 3 CLASS A - 4 CLASS B NOTES
$500,000,000.00 $107,000,000.00 $94,000,000.00 $132,000,000.00 $149,500,000.00 $17,500,000.00
Original Pool Amount
Distributions:
Distribution Percentages 1 0.00% 0.00% 0.00% 96.50% 3.50%
Coupon 5.722% 5.956% 6.200% 6.300% 6.300%
Beginning Pool Balance $98,965,844.59
Ending Pool Balance $91,208,888.49
Collected Principal $7,460,706.39
Collected Interest $831,172.02
Charge - Offs $296,249.71
Liquidation Proceeds / Recoveries $482,106.55
Servicing $82,471.54
Cash Transfer from Reserve Account $0.00
Total Collections Avail for $8,691,513.42
Debt Service
Beginning Balance $98,965,844.59 $0.00 $0.00 $0.00 $95,502,040.07 $3,463,804.52
Interest Due $519,570.68 $0.00 $0.00 $0.00 $501,385.71 $18,184.97
Interest Paid $519,570.68 $0.00 $0.00 $0.00 $501,385.71 $18,184.97
Principal Due $7,756,956.10 $0.00 $0.00 $0.00 $7,485,462.64 $271,493.46
Principal Paid $7,756,956.10 $0.00 $0.00 $0.00 $7,485,462.64 $271,493.46
Ending Balance $91,208,888.49 $0.00 $0.00 $0.00 $88,016,577.43 $3,192,311.06
Note / Certificate Pool Factor 0.0000 0.0000 0.0000 0.5887 0.1824
(Ending Balance / Original Pool Amount)
Total Distributions $8,276,526.78 $0.00 $0.00 $0.00 $7,986,848.35 $289,678.43
Interest Shortfall $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Total Shortfall $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
(required from Reserve)
Excess Servicing $414,986.64
(see Memo Item - Reserve Account)
</TABLE>
Beginning Reserve Acct Balance $10,468,356.07
(Release) / Draw ($468,468.28)
Ending Reserve Acct Balance $9,999,887.79
<PAGE>
Navistar Financial 1997 - B Owner Trust
For the Month of October 2000
Trigger Events:A) Loss Trigger
B) Delinquency Trigger
C) Noteholders Percent Trigger
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
5 4 3 2 1
Jun-00 Jul-00 Aug-00 Sep-00 Oct-00
------ ------ ------ ------ ------
Beginning Pool Balance $130,574,325.90 $121,353,112.10 $113,931,125.06 $106,711,978.80 $98,965,844.59
A) Loss Trigger:
Principal of Contracts Charged Off $129,672.74 $226,944.76 $279,343.82 $208,146.91 $296,249.71
Recoveries $466,477.32 $978,356.69 $373,109.34 $210,822.61 $482,106.55
</TABLE>
Total Charged Off (Months 5, 4, 3) $635,961.32
Total Recoveries (Months 3, 2, 1) $1,066,038.50
----------------
Net Loss / (Recoveries) for 3 Mos ($430,077.18)(a)
Total Balance (Months 5, 4, 3) $365,858,563.06 (b)
Loss Ratio Annualized [(a/b) * (12)] -1.4106%
Trigger: Is Ratio > 1.5% No
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Aug-00 Sep-00 Oct-00
B) Delinquency Trigger: $2,152,948.27 $2,135,407.73 $2,536,698.26
Balance delinquency 60+ days 1.88969% 2.00109% 2.56321%
As % of Beginning Pool Balance 2.23477% 2.20285% 2.15133%
Three Month Average
</TABLE>
Trigger: Is Average > 2.0% Yes
C) Noteholders Percent Trigger: 2.0000%
Ending Reserve Account Balance
not less than 1% of Initial Aggregate
Receivables Balance
Trigger: Is Minimum < 1.0% No
Navistar Financial Corporation
by: /s/ R. W. Cain
R. W. Cain
Vice President and Treasurer
<PAGE>
Exhibit 20.4
Navistar Financial 1998 - A Owner Trust
For the Month of October, 2000
Distribution Date of November 15, 2000
Servicer Certificate #30
Original Pool Amount $500,864,370.04
Beginning Pool Balance $157,331,921.34
Beginning Pool Factor 0.3141208
Principal and Interest Collections:
Principal Collected (Incl. Servicer Advance Repay) $7,109,796.84
Interest Collected $1,178,123.89
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds / Recoveries $838,978.76
Total Additional Deposits $838,978.76
Repos / Chargeoffs $267,984.59
Aggregate Number of Notes Charged Off 137
Total Available Funds $9,070,686.27
Ending Pool Balance $150,010,353.13
Ending Pool Factor 0.2995029
Servicing Fee $131,109.93
Repayment of Servicer Advances $56,213.22
Reserve Account:
Beginning Balance (see Memo Item) $10,938,882.87
Target Percentage 5.25%
Target Balance $7,875,543.54
Minimum Balance $10,017,287.40
(Release) / Deposit ($921,595.47)
Ending Balance $10,017,287.40
Current Weighted Average APR: 9.009%
Current Weighted Average Remaining Term (months): 25.44
Delinquencies Dollars Notes
Installments: 1 - 30 days $1,461,794.79 1,426
31 - 60 days $433,251.43 380
60+ days $288,297.06 130
Total: $2,183,343.28 1,438
Balances: 60+ days $3,566,409.58 130
Memo Item - Reserve Account
Prior Month $10,051,210.05
+ Invest. Income $49,191.94
+ Excess Serv. $838,480.88
+ Transfer (to) / from Collections Account $0.00
Beginning Balance $10,938,882.87
<PAGE>
Navistar Financial 1998 - A Owner Trust
For the Month of October, 2000
<TABLE>
<CAPTION>
NOTES
(Money Market)
<S> <C> <C> <C>
TOTAL CLASS A - 1 CLASS A - 2
$500,864,370.04 $483,334,000.00 $17,530,370.04
Original Pool Amount
Distributions:
Distribution Percentages 96.50% 3.50%
Coupon 5.94% 6.10%
Beginning Pool Balance $157,331,921.34
Ending Pool Balance $150,010,353.13
Collected Principal $7,053,583.62
Collected Interest $1,178,123.89
Charge - Offs $267,984.59
Liquidation Proceeds / Recoveries $838,978.76
Servicing $131,109.93
Cash Transfer from Reserve Account $0.00
Total Collections Avail for Debt Service $8,939,576.34
Beginning Balance $157,331,921.34 $151,825,187.00 $5,506,734.34
Interest Due $779,527.25 $751,534.68 $27,992.57
Interest Paid $779,527.25 $751,534.68 $27,992.57
Principal Due $7,321,568.21 $7,065,313.32 $256,254.89
Principal Paid $7,321,568.21 $7,065,313.32 $256,254.89
Ending Balance $150,010,353.13 $144,759,873.68 $5,250,479.45
Note / Certificate Pool Factor 0.2995 0.2995
(Ending Balance / Original Pool Amount)
Total Distributions $8,101,095.46 $7,816,848.00 $284,247.46
Interest Shortfall $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00
Total Shortfall $0.00 $0.00 $0.00
(required from Reserve)
Excess Servicing $838,480.88
(see Memo Item - Reserve Account)
Beginning Reserve Acct Balance $10,938,882.87
(Release) / Draw ($921,595.47)
Ending Reserve Acct Balance $10,017,287.40
</TABLE>
<PAGE>
Navistar Financial 1998 - A Owner Trust
For the Month of October, 2000
Trigger Events:
A) Loss Trigger
B) Delinquency Trigger
C) Noteholders Percent Trigger
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
5 4 3 2 1
Jun-00 Jul-00 Aug-00 Sep-00 Oct-00
Beginning Pool Balance $191,640,559.16 $182,685,275.88 $175,221,766.25 $165,338,958.59 $157,331,921.34
A) Loss Trigger:
Principal of Contracts Charged Off $591,292.42 $471,941.02 $1,013,438.89 $716,252.10 $267,984.59
Recoveries $341,777.17 $434,375.75 $452,817.34 $455,568.52 $838,978.76
Total Charged Off (Months 5, 4, 3) $2,076,672.33
Total Recoveries (Months 3, 2, 1) $1,747,364.62
Net Loss / (Recoveries) for 3 Mos $329,307.71(a)
</TABLE>
Total Balance (Months 5, 4, 3) $549,547,601.29(b)
Loss Ratio Annualized [(a/b) * (12)] 0.7191%
Trigger: Is Ratio > 1.5% No
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Aug-00 Sep-00 Oct-00
B) Delinquency Trigger: $2,381,366.91 $3,330,114.41 $3,566,409.58
Balance delinquency 60+ days 1.35906% 2.01411% 2.26681%
As % of Beginning Pool Balance 1.78308% 1.86855% 1.87999%
Three Month Average
</TABLE>
Trigger: Is Average > 2.0% No
C) Noteholders Percent Trigger: 2.0000%
Ending Reserve Account Balance
not less than 1% of Initial Aggregate
Receivables Balance
Trigger: Is Minimum < 1.0% No
Navistar Financial Corporation
by: /s/ R. W. Cain
R. W. Cain
Vice President and Treasurer
<PAGE>
Exhibit 20.5
Navistar Financial 1999 - A Owner Trust
For the Month of October 2000
Distribution Date of November 15, 2000
Servicer Certificate #18
Original Pool Amount $714,764,750.47
Beginning Pool Balance $419,516,508.08
Beginning Pool Factor 0.5869295
Principal and Interest Collections:
Principal Collected (Incl. Servicer Advance Repay $14,770,635.14
Interest Collected $2,947,099.10
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds / Recoveries $1,494,577.38
Total Additional Deposits $1,494,577.38
Repos / Chargeoffs $2,092,327.07
Aggregate Number of Notes Charged Off 177
Total Available Funds $19,212,311.62
Ending Pool Balance $402,653,545.87
Ending Pool Factor 0.5633372
Servicing Fee $349,597.09
Repayment of Servicer Advances $0.00
Reserve Account:
Beginning Balance (see Memo Item) $22,054,065.59
Target Percentage 5.25%
Target Balance $21,139,311.16
Minimum Balance $14,295,295.01
(Release) / Deposit ($914,754.43)
Ending Balance $21,139,311.16
Current Weighted Average APR: 8.358%
Current Weighted Average Remaining Term (months): 34.55
Delinquencies Dollars Notes
------- -----
Installments1 - 30 days 3,367,146.28 2,599
31 - 60 days 813,042.64 618
60+ days 317,692.70 176
Total: 4,497,881.62 2,612
Balances: 60+ days 6,473,592.88 176
Memo Item - Reserve Account
Prior Month $22,024,616.67
+ Invest. Income $118,142.87
+ Excess Serv. $0.00
+ Transfer (to)/from Collections Account ($88,693.95)
Beginning Balance $22,054,065.59
<PAGE>
Navistar Financial 1999 - A Owner Trust
For the Month of October 2000
<TABLE>
<CAPTION>
NOTES
<S> <C> <C> <C> <C> <C> <C>
TOTAL CLASS A - 1 CLASS A - 2 CLASS A - 3 CLASS A - 4 CLASS B NOTES
$714,764,750.47 $147,000,000.00 $197,000,000.00 $200,000,000.00$145,745,000.00 $25,019,750.47
Original Pool Amount
Distributions:
Distribution Percentages 0.00% 96.50% 0.00% 0.00% 3.50%
Coupon 5.0025% 5.5500% 5.9500% 6.1300% 6.2200%
Beginning Pool Balance $419,516,508.08
Ending Pool Balance $402,653,545.87
Collected Principal $14,770,635.14
Collected Interest $2,947,099.10
Charge - Offs $2,092,327.07
Liquidation Proceeds / Recoveries $1,494,577.38
Servicing $349,597.09
Cash Transfer from Reserve Account $88,693.95
Total Collections Avail for $18,951,408.48
Debt Service
Beginning Balance $419,516,508.09 $0.00 $53,940,446.10 $200,000,000.00$145,745,000.00 $19,831,061.99
Interest Due $2,088,446.27 $0.00 $249,474.56 $991,666.67 $744,514.04 $102,791.00
Interest Paid $2,088,446.27 $0.00 $249,474.56 $991,666.67 $744,514.04 $102,791.00
Principal Due $16,862,962.21 $0.00 $16,272,758.53 $0.00 $0.00 $590,203.68
Principal Paid $16,862,962.21 $0.00 $16,272,758.53 $0.00 $0.00 $590,203.68
Ending Balance $402,653,545.88 $0.00 $37,667,687.57 $200,000,000.00$145,745,000.00 $19,240,858.31
Note / Certificate Pool Factor 0.0000 0.1912 1.0000 1.0000 0.7690
(Ending Balance / Original Pool Amount)
Total Distributions $18,951,408.48 $0.00 $16,522,233.09 $991,666.67 $744,514.04 $692,994.68
Interest Shortfall $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Total Shortfall $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
(required from Reserve)
Excess Servicing $0.00
(see Memo Item - Reserve Account)
</TABLE>
Beginning Reserve Acct Balance $22,054,065.59
(Release) / Draw ($914,754.43)
Ending Reserve Acct Balance $21,139,311.16
<PAGE>
Navistar Financial 1999 - A Owner Trust
For the Month of October 2000
Trigger Events: A) Loss Trigger
B) Delinquency Trigger
C) Noteholders Percent Trigger
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
5 4 3 2 1
Jun-00 Jul-00 Aug-00 Sep-00 Oct-00
------ ------ ------ ------ ------
Beginning Pool Balance $484,389,584.90 $466,968,567.50 $451,619,634.81 $434,307,599.46 $419,516,508.08
A) Loss Trigger:
Principal of Contracts Charged Off $707,604.90 $769,977.20 $1,348,447.58 $907,881.51 $2,092,327.07
Recoveries $690,800.91 $936,067.84 $1,150,961.70 $634,138.83 $1,494,577.38
</TABLE>
Total Charged Off (Months 5, 4, 3) $2,826,029.68
Total Recoveries (Months 3, 2, 1) $3,279,677.91
Net Loss / (Recoveries) for 3 Mos ($453,648.23)(a)
Total Balance (Months 5, 4, 3) $1,402,977,787.21 (b)
Loss Ratio Annualized [(a/b) * (12)] -0.3880%
Trigger: Is Ratio > 1.5% No
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Aug-00 Sep-00 Oct-00
B) Delinquency Trigger: $6,437,975.96 $7,712,959.55 $6,473,592.88
Balance delinquency 60+ days 1.42553% 1.77592% 1.54311%
As % of Beginning Pool Balance 1.39704% 1.53941% 1.58152%
Three Month Average
</TABLE>
Trigger: Is Average > 2.0% No
C) Noteholders Percent Trigger: 2.9575%
Ending Reserve Account Balance
not less than 1% of Initial Aggregate
Receivables Balance
Trigger: Is Minimum < 1.0% No
Navistar Financial Corporation
by: /s/ R. W. Cain
R. W. Cain
Vice President and Treasurer
<PAGE>
Exhibit 20.6
Navistar Financial 2000 - A Owner Trust
For the Month of October 2000
Distribution Date of November 15, 2000
Servicer Certificate #9
Original Pool amount Initial Receivables $380,843,908.73
Subsequent Receivables (transferred 3/13/00) $74,413,256.03
Subsequent Receivables (transferred 3/20/00) $19,742,835.24
Beginning Pool Balance $395,679,940.21
Beginning Pool Factor 0.8330104
Principal and Interest Collections:
Principal Collected $9,887,005.85
(Incl. Servicer Advance Repay)
Interest Collected $3,045,909.42
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds / Recoveries $770,991.06
Total Additional Deposits $770,991.06
Repos / Chargeoffs $863,914.62
Aggregate Number of Notes Charged Off 87
Total Available Funds $13,703,906.33
Ending Pool Balance $384,929,019.74
Ending Pool Factor 0.8103769
Servicing Fee $329,733.28
Repayment of Servicer Advances $0.00
Reserve Account:
Beginning Balance (see Memo Item) $21,162,259.60
Target Percentage 5.25%
Target Balance $20,208,773.54
Minimum Balance $9,105,143.30
(Release) / Deposit ($953,486.06)
Ending Balance $20,208,773.54
Current Weighted Average APR: 9.215%
Current Weighted Average Remaining Term (months): 45.91
Delinquencies Dollars Notes
------- -----
Installment1:- 30 days 2,230,265.23 2,061
31 - 60 days 473,441.81 380
60+ days 156,801.93 100
Total: 2,860,508.97 2,082
Balances: 60+ days 4,921,082.49 100
Memo Item - Reserve Account
Prior Month $20,773,196.86
+ Invest. Income $108,701.54
+ Excess Serv. $280,361.20
+ Transfer (to)/from Collections Account $0.00
Beginning Balance $21,162,259.60
<PAGE>
Navistar Financial 2000 - A Owner Trust
For the Month of October 2000 NOTES
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
TOTAL CLASS A - 1 CLASS A - 2 CLASS A - 3 CLASS A - 4 CLASS B NOTES
$475,000,000.00 $84,000,000.00 $142,000,000.00 $110,000,000.00 $121,187,500.00 $17,812,500.00
Original Pool Amount
Distributions:
Distribution Percentages 0.00% 96.25% 0.00% 0.00% 3.75%
Coupon 6.080% 6.820% 7.200% 7.340% 7.470%
Beginning Pool Balance $395,679,940.21
Ending Pool Balance $384,929,019.74
Collected Principal $9,887,005.85
Collected Interest $3,045,909.42
Charge - Offs $863,914.62
Liquidation Proceeds / Recoveries $770,991.06
Servicing $329,733.28
Cash Transfer from Reserve Account $0.00
Total Collections Avail for $13,374,173.05
Debt Service
Beginning Balance $395,679,940.21 $4,679,940.21 $142,000,000.00 $110,000,000.00 $121,187,500.00 $17,812,500.00
Interest Due $2,342,891.38 $23,711.70 $807,033.33 $660,000.00 $741,263.54 $110,882.81
Interest Paid $2,342,891.38 $23,711.70 $807,033.33 $660,000.00 $741,263.54 $110,882.81
Principal Due $10,750,920.47 $4,679,940.21 $5,843,318.50 $0.00 $0.00 $227,661.76
Principal Paid $10,750,920.47 $4,679,940.21 $5,843,318.50 $0.00 $0.00 $227,661.76
Ending Balance $384,929,019.74 $0.00 $136,156,681.50 $110,000,000.00 $121,187,500.00 $17,584,838.24
Note / Certificate Pool Factor 0.0000 0.9588 1.0000 1.0000 0.9872
(Ending Balance / Original Pool Amount)
Total Distributions $13,093,811.85 $4,703,651.91 $6,650,351.83 $660,000.00 $741,263.54 $338,544.57
Interest Shortfall $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Total Shortfall $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
(required from Reserve)
Excess Servicing $280,361.20
(see Memo Item - Reserve Account)
</TABLE>
Beginning Reserve Acct Balance $21,162,259.60
(Release) / Draw ($953,486.06)
Ending Reserve Acct Balance $20,208,773.54
<PAGE>
Navistar Financial 2000 - A Owner Trust
Trigger Events:A) Loss Trigger
B) Delinquency Trigger
C) Noteholders Percent Trigger
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
5 4 3 2 1
Jun-00 Jul-00 Aug-00 Sep-00 Oct-00
------ ------ ------ ------ ------
Beginning Pool Balance $436,112,636.19 $424,904,426.91 $415,648,446.06 $405,255,303.51 $395,679,940.21
A) Loss Trigger:
Principal of Contracts Charged Off $906,266.53 $538,295.53 $1,170,652.72 $739,288.02 $863,914.62
Recoveries $117,605.38 $262,196.38 $570,204.65 $329,839.91 $770,991.06
</TABLE>
Total Charged Off (Months 5, 4, 3) $2,615,214.78
Total Recoveries (Months 3, 2, 1) $1,671,035.62
Net Loss / (Recoveries) for 3 Mos $944,179.16(a)
Total Balance (Months 5, 4, 3) $1,276,665,509.16(b)
Loss Ratio Annualized [(a/b) * (12)] 0.8875%
Trigger: Is Ratio > 1.5% No
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Aug-00 Sep-00 Oct-00
B) Delinquency Trigger: $4,111,490.67 $4,073,472.59 $4,921,082.49
Balance delinquency 60+ days 0.98918% 1.00516% 1.24370%
As % of Beginning Pool Balance 1.07722% 1.18220% 1.07935%
Three Month Average
</TABLE>
Trigger: Is Average > 2.0% No
C) Noteholders Percent Trigger: 4.2545%
not less than 1% of Initial Aggregate
Receivables Balance
Trigger: Is Minimum < 1.0% No
Navistar Financial Corporation
by: /s/ R. W. Cain
R. W. Cain
Vice President and Treasurer
