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) December 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,
NAVISTAR FINANCIAL 2000-A OWNER TRUST AND
NAVISTAR FINANCIAL 2000-B 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 December 26, 2000, Registrant made available the
Monthly Servicer Certificates for the Period of November 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,
NAVISTAR FINANCIAL 2000-A OWNER TRUST AND
NAVISTAR FINANCIAL 2000-B OWNER TRUST
(Exact name of Registrant as specified in its charter)
Date: January 4, 2001 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 December 20, 2000
Navistar Financial 1997-A Owner Trust
20.2 Monthly Servicer Certificate, dated December 15, 2000
Navistar Financial 1997-B Owner Trust
20.3 Monthly Servicer Certificate, dated December 15, 2000
Navistar Financial 1998-A Owner Trust
20.4 Monthly Servicer Certificate, dated December 15, 2000
Navistar Financial 1999-A Owner Trust
20.5 Monthly Servicer Certificate, dated December 15, 2000
Navistar Financial 2000-A Owner Trust
20.6 Monthly Servicer Certificate, dated December 15, 2000
20.7 Navistar Financial 2000-B Owner Trust
Monthly Servicer Certificate, dated December 15, 2000
<PAGE>
Exhibit 20.1
Navistar Financial 1996 - B Owner Trust
For the Month of November, 2000
Distribution Date of December 20, 2000
Servicer Certificate #50
Original Pool Amount $486,507,362.75
Beginning Pool Balance $27,444,697.42
Beginning Pool Factor 0.0564117
Principal and Interest Collections:
Principal Collected (Incl. Servicer Advance Repay) $2,347,943.78
Interest Collected $200,070.09
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds / Recoveries $63,296.42
Total Additional Deposits $63,296.42
Repos / Chargeoffs $10,018.43
Aggregate Number of Notes Charged Off 82
Total Available Funds $2,611,310.29
Ending Pool Balance $25,086,735.21
Ending Pool Factor 0.0515650
Servicing Fee $22,870.58
Repayment of Servicer Advances $0.00
Reserve Account:
Beginning Balance (see Memo Item) $9,861,236.62
Target Percentage 10.00%
Target Balance $2,508,673.52
Minimum Balance $9,730,147.26
(Release) / Deposit ($131,089.36)
Ending Balance $9,730,147.26
Current Weighted Average APR: 9.190%
Current Weighted Average Remaining Term (months): 9.44
Delinquencies Dollars Notes
Installments: 1 - 30 days $533,916.90 434
31 - 60 days $286,201.81 131
60+ days $208,614.32 60
Total: $1,028,733.03 465
Balances: 60+ days $957,800.04 60
Memo Item - Reserve Account
Prior Month $9,730,147.26
+ Invest. Income $49,782.47
+ Excess Serv. $81,306.89
+ Transfer (to) / from Collections Account $0.00
Beginning Balance $9,861,236.62
<PAGE>
Navistar Financial 1996 - B Owner Trust
For the Month of November, 2000
<TABLE>
<CAPTION>
NOTES
CLASS B CLASS C
TOTAL CLASS A - 1 CLASS A - 2 CLASS A - 2 CERTIFICATES CERTIFICATES
<S> <C> <C> <C> <C> <C> <C>
$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 $27,444,697.42
Ending Pool Balance $25,086,735.21
Collected Principal $2,347,943.78
Collected Interest $200,070.09
Charge - Offs $10,018.43
Liquidation Proceeds / Recoveries $63,296.42
Servicing $22,870.58
Cash Transfer from Reserve Account $0.00
Total Collections Avail for Debt Service $2,588,439.71
Beginning Balance $27,444,697.44 $0.00 $0.00 $18,753,907.93 $4,688,296.57 $4,002,492.93
Interest Due $149,170.61 $0.00 $0.00 $98,926.86 $25,394.94 $24,848.81
Interest Paid $149,170.61 $0.00 $0.00 $98,926.86 $25,394.94 $24,848.81
Principal Due $2,357,962.21 $0.00 $0.00 $2,204,694.67 $82,528.68 $70,738.87
Principal Paid $2,357,962.21 $0.00 $0.00 $2,204,694.67 $82,528.68 $70,738.87
Ending Balance $25,086,735.22 $0.00 $0.00 $16,549,213.26 $4,605,767.89 $3,931,754.06
Note / Certificate Pool Factor 0.0000 0.0000 0.0700 0.2705 0.2697
(Ending Balance / Original Pool Amount)
Total Distributions $2,507,132.82 $0.00 $0.00 $2,303,621.53 $107,923.62 $95,587.68
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 $81,306.89
(see Memo Item - Reserve Account)
Beginning Reserve Acct Balance $9,861,236.62
(Release) / Draw ($131,089.36)
Ending Reserve Acct Balance $9,730,147.26
</TABLE>
<PAGE>
Navistar Financial 1996 - B Owner Trust
For the Month of November, 2000
Trigger Events:
A) Loss Trigger - Reserve Account Balance
Loss Trigger - Certificate Lockout Event
B) Delinquency Trigger
C) Noteholders Percent Trigger
<TABLE>
<CAPTION>
6 5 4 3 2 1
Jun-00 Jul-00 Aug-00 Sep-00 Oct-00 Nov-00
<S> <C> <C> <C> <C> <C> <C>
Beginning Pool Balance $45,146,253.30 $41,138,757.63 $37,279,292.27 $33,467,159.40 $30,477,415.95 $27,444,697.42
A) Loss Trigger:
Principal of Contracts Charged Off $147,950.25 $39,038.88 $117,267.19 $48,554.00 $17,217.73 $10,018.43
Recoveries $35,816.44 $28,445.48 $111,768.33 $21,644.75 $206,880.61 $63,296.42
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <S> <C>
Loss Trigger - Reserve Account Balance Loss Trigger - Certificate Lockout Event
Total Charged Off (Months 5, 4, 3) $204,860.07 Total Charged off (Months 1 - 6) $380,046.48
Total Recoveries (Months 3, 2, 1) $291,821.78 Total Recoveries (Months 1 - 6) $467,852.03
Net Loss / (Recoveries) for 3 Mos ($86,961.71)(a) Net Loss/(Recoveries) for 6 Mos. ($87,805.55)(c)
Total Balance (Months 5, 4, 3) $111,885,209.30 (b) Total Balance (Months 1 - 6) $214,953,575.97 (d)
Loss Ratio Annualized [(a/b) * (12)] -0.9327% Loss Ratio Annualized [(c/d) (12)] -0.49018%
Trigger: Is Ratio > 1.5% No Trigger: Is Ratio > 6.0% No
</TABLE>
Sep-00 Oct-00 Nov-00
B) Delinquency Trigger:
Balance delinquency 60+ days $654,391.75 $611,024.36 $957,800.04
As % of Beginning Pool Balance 1.95533% 2.00484% 3.48993%
Three Month Average 2.56090% 2.08619% 2.48337%
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 November, 2000
Distribution Date of December 15, 2000
Servicer Certificate #44
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 $46,088,119.36
Beginning Pool Factor 0.0944927
Principal and Interest Collections:
Principal Collected (Incl. Servicer Advance Repay) $3,856,369.68
Interest Collected $364,401.63
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds / Recoveries $399,950.33
Total Additional Deposits $399,950.33
Repos / Chargeoffs $81,985.21
Aggregate Number of Notes Charged Off 190
Total Available Funds $4,620,721.64
Ending Pool Balance $42,149,764.47
Ending Pool Factor 0.0864180
Servicing Fee $38,406.77
Repayment of Servicer Advances $0.00
Reserve Account:
Beginning Balance (see Memo Item) $10,553,348.16
Target Percentage 10.00%
Target Balance $4,214,976.45
Minimum Balance $10,499,931.43
(Release) / Deposit ($53,416.73)
Ending Balance $10,499,931.43
Current Weighted Average APR: 9.494%
Current Weighted Average Remaining Term (months): 14.57
Delinquencies Dollars Notes
Installments: 1 - 30 days $1,034,579.23 594
31 - 60 days $366,086.56 182
60+ days $248,333.40 68
Total: $1,648,999.19 616
Balances: 60+ days $1,163,378.48 68
Memo Item - Reserve Account
Prior Month $10,122,441.61
+ Invest. Income $49,108.91
+ Excess Serv. $381,797.64
+ Transfer (to) / from Collections Account $0.00
Beginning Balance $10,553,348.16
<PAGE>
Navistar Financial 1997 - A Owner Trust
For the Month of November, 2000
<TABLE>
<CAPTION>
NOTES
TOTAL CLASS A - 1 CLASS A - 2 CLASS A - 3 CLASS B NOTES
<S> <C> <C> <C> <C> <C>
$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 5.841% 6.350% 6.750% 6.950%
Beginning Pool Balance $46,088,119.36
Ending Pool Balance $42,149,764.47
Collected Principal $3,856,369.68
Collected Interest $364,401.63
Charge - Offs $81,985.21
Liquidation Proceeds / Recoveries $399,950.33
Servicing $38,406.77
Cash Transfer from Reserve Account $0.00
Total Collections Avail for Debt Service $4,582,314.87
Beginning Balance $46,088,119.36 $0.00 $0.00 $28,588,119.36 $17,500,000.00
Interest Due $262,162.34 $0.00 $0.00 $160,808.17 $101,354.17
Interest Paid $262,162.34 $0.00 $0.00 $160,808.17 $101,354.17
Principal Due $3,938,354.89 $0.00 $0.00 $3,938,354.89 $0.00
Principal Paid $3,938,354.89 $0.00 $0.00 $3,938,354.89 $0.00
Ending Balance $42,149,764.47 $0.00 $0.00 $24,649,764.47 $17,500,000.00
Note / Certificate Pool Factor 0.0000 0.0000 0.1401 1.0000
(Ending Balance / Original Pool Amount)
Total Distributions $4,200,517.23 $0.00 $0.00 $4,099,163.06 $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 $381,797.64
(see Memo Item - Reserve Account)
Beginning Reserve Acct Balance $10,553,348.16
(Release) / Draw ($53,416.73)
Ending Reserve Acct Balance $10,499,931.43
</TABLE>
<PAGE>
Navistar Financial 1997 - A Owner Trust
For the Month of November, 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
Jul-00 Aug-00 Sep-00 Oct-00 Nov-00
Beginning Pool Balance $66,632,300.31 $61,819,295.87 $55,033,484.89 $50,402,324.32 $46,088,119.36
A) Loss Trigger:
Principal of Contracts Charged Off $301,879.18 $1,050,448.75 $136,763.42 $91,977.08 $81,985.21
Recoveries $222,782.98 $195,037.80 $481,343.51 $1,033,884.29 $399,950.33
</TABLE>
Total Charged Off (Months 5, 4, 3) $1,489,091.35
Total Recoveries (Months 3, 2, 1) $1,915,178.13
Net Loss / (Recoveries) for 3 Mos ($426,086.78)(a)
Total Balance (Months 5, 4, 3) $183,485,081.07 (b)
Loss Ratio Annualized [(a/b) * (12)] -2.7866%
Trigger: Is Ratio > 1.5% No
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Sep-00 Oct-00 Nov-00
B) Delinquency Trigger: $1,189,430.58 $1,170,053.62 $1,163,378.48
Balance delinquency 60+ days 2.16129% 2.32143% 2.52425%
As % of Beginning Pool Balance 2.56325% 2.27161% 2.33565%
Three Month Average
</TABLE>
Trigger: Is Average > 2.0% Yes
C) Noteholders Percent Trigger: 2.1000%
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 November 2000
Distribution Date of December 15, 2000
Servicer Certificate #38
Original Pool amount Initial Receivables $408,527,638.36
Subsequent Receivables (transferred 11/13/97) $91,466,751.20
Beginning Pool Balance $91,208,888.49
Beginning Pool Factor 0.1824198
Principal and Interest Collections:
Principal Collected (Incl. Servicer Advance Repay) $5,902,144.61
Interest Collected $666,947.85
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds / Recoveries $363,891.77
Total Additional Deposits $363,891.77
Repos / Chargeoffs $76,165.51
Aggregate Number of Notes Charged Off 165
Total Available Funds $6,932,984.23
Ending Pool Balance $85,230,578.37
Ending Pool Factor 0.1704631
Servicing Fee $76,007.41
Repayment of Servicer Advances $0.00
Reserve Account:
Beginning Balance (see Memo Item) $10,454,138.63
Target Percentage 10.00%
Target Balance $8,523,057.84
Minimum Balance $9,999,887.79
(Release) / Deposit ($454,250.84)
Ending Balance $9,999,887.79
Current Weighted Average APR: 9.372%
Current Weighted Average Remaining Term (months): 19.74
Delinquencies Dollars Notes
Installments: 1 - 30 days $1,907,996.14 941
31 - 60 days $865,552.63 276
60+ days $373,002.94 118
Total: $3,146,551.71 974
Balances: 60+ days $2,712,347.29 118
Memo Item - Reserve Account
Prior Month $9,999,887.79
+ Invest. Income $54,430.80
+ Excess Serv. $399,820.04
+ Transfer (to) / from Collections Account $0.00
Beginning Balance $10,454,138.63
<PAGE>
Navistar Financial 1997 - B Owner Trust
For the Month of November 2000
<TABLE>
<CAPTION>
NOTES
(Money Market)
<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 0.00% 0.00% 0.00% 96.50% 3.50%
Coupon 5.72% 5.96% 6.20% 6.30% 6.30%
Beginning Pool Balance $91,208,888.49
Ending Pool Balance $85,230,578.37
Collected Principal $5,902,144.61
Collected Interest $666,947.85
Charge - Offs $76,165.51
Liquidation Proceeds / Recoveries $363,891.77
Servicing $76,007.41
Cash Transfer from Reserve Account $0.00
Total Collections Avail for Debt Service$6,856,976.82
Beginning Balance $91,208,888.49 $0.00 $0.00 $0.00 $88,016,577.43 $3,192,311.06
Interest Due $478,846.66 $0.00 $0.00 $0.00 $462,087.03 $16,759.63
Interest Paid $478,846.66 $0.00 $0.00 $0.00 $462,087.03 $16,759.63
Principal Due $5,978,310.12 $0.00 $0.00 $0.00 $5,769,069.27 $209,240.85
Principal Paid $5,978,310.12 $0.00 $0.00 $0.00 $5,769,069.27 $209,240.85
Ending Balance $85,230,578.37 $0.00 $0.00 $0.00 $82,247,508.16 $2,983,070.21
Note / Certificate Pool Factor 0.0000 0.0000 0.0000 0.5502 0.1705
(Ending Balance / Original Pool Amount)
Total Distributions $6,457,156.78 $0.00 $0.00 $0.00 $6,231,156.30 $226,000.48
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 $399,820.04
(see Memo Item - Reserve Account)
Beginning Reserve Acct Balance $10,454,138.63
(Release) / Draw ($454,250.84)
Ending Reserve Acct Balance $9,999,887.79
</TABLE>
<PAGE>
Navistar Financial 1997 - B Owner Trust
For the Month of November 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
Jul-00 Aug-00 Sep-00 Oct-00 Nov-00
Beginning Pool Balance $121,353,112.10 $113,931,125.06 $106,711,978.80 $98,965,844.59 $91,208,888.49
A) Loss Trigger:
Principal of Contracts Charged Off $226,944.76 $279,343.82 $208,146.91 $296,249.71 $76,165.51
Recoveries $978,356.69 $373,109.34 $210,822.61 $482,106.55 $363,891.77
Total Charged Off (Months 5, 4, 3) $714,435.49
Total Recoveries (Months 3, 2, 1) $1,056,820.93
Net Loss / (Recoveries) for 3 Mos ($342,385.44)(a)
Total Balance (Months 5, 4, 3) $341,996,215.96 (b)
Loss Ratio Annualized [(a/b) * (12)] -1.20137%
Trigger: Is Ratio > 1.5% No
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Sep-00 Oct-00 Nov-00
B) Delinquency Trigger: 2,135,407.73 2,536,698.26 2,712,347.29
Balance delinquency 60+ days 2.00109% 2.56321% 2.97378%
As % of Beginning Pool Balance 2.20285% 2.15133% 2.51269%
Three Month Average
</TABLE>
Trigger: Is Average > 2.0% Yes
C) Noteholders Percent Trigger: 2.00000%
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 November, 2000
Distribution Date of December 15, 2000
Servicer Certificate #31
Original Pool Amount $500,864,370.04
Beginning Pool Balance $150,010,353.13
Beginning Pool Factor 0.299502944
Principal and Interest Collections:
Principal Collected $6,486,469.79
Interest Collected $1,112,570.01
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds / Recoveries $551,920.63
Total Additional Deposits $551,920.63
Repos / Chargeoffs $561,796.55
Aggregate Number of Notes Charged Off 138
Total Available Funds $8,150,960.43
Ending Pool Balance $142,962,086.79
Ending Pool Factor 0.2854307
Servicing Fee $125,008.63
Repayment of Servicer Advances $0.00
Reserve Account:
Beginning Balance (see Memo Item) $11,176,216.81
Target Percentage 10.00%
Target Balance $14,296,208.68
Minimum Balance $10,017,287.40
(Release) / Deposit ($52,091.73)
Ending Balance $11,124,125.08
Current Weighted Average APR: 8.988%
Current Weighted Average Remaining Term (months): 24.76
Delinquencies Dollars Notes
Installments: 1 - 30 days $1,811,664.19 1,573
31 - 60 days $543,930.13 471
60+ days $340,979.41 147
Total: $2,696,573.73 1,593
Balances: 60+ days $4,688,611.11 147
Memo Item - Reserve Account
Prior Month $10,889,690.93
+ Invest. Income $52,091.73
+ Excess Serv. $234,434.15
+ Transfer (to) / from Collections Account $0.00
Beginning Balance $11,176,216.81
<PAGE>
Navistar Financial 1998 - A Owner Trust
For the Month of November, 2000
<TABLE>
<CAPTION> NOTES
TOTAL CLASS A CLASS B
<S> <C> <C> <C>
$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 $150,010,353.13
Ending Pool Balance $142,962,086.79
Collected Principal $6,486,469.79
Collected Interest $1,112,570.01
Charge - Offs $561,796.55
Liquidation Proceeds / Recoveries $551,920.63
Servicing $125,008.63
Cash Transfer from Reserve Account $0.00
Total Collections Avail for Debt Service $8,025,951.80
Beginning Balance $150,010,353.13 $144,759,873.68 $5,250,479.45
Interest Due $743,251.31 $716,561.37 $26,689.94
Interest Paid $743,251.31 $716,561.37 $26,689.94
Principal Due $7,048,266.34 $6,801,577.02 $246,689.32
Principal Paid $7,048,266.34 $6,801,577.02 $246,689.32
Ending Balance $142,962,086.79 $137,958,296.66 $5,003,790.13
Note / Certificate Pool Factor 0.2854 0.2854
(Ending Balance / Original Pool Amount)
Total Distributions $7,791,517.65 $7,518,138.39 $273,379.26
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 $234,434.15
(see Memo Item - Reserve Account)
Beginning Reserve Acct Balance $11,176,216.81
(Release) / Draw ($52,091.73)
Ending Reserve Acct Balance $11,124,125.08
</TABLE>
<PAGE>
Navistar Financial 1998 - A Owner Trust
For the Month of November, 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
Jul-00 Aug-00 Sep-00 Oct-00 Nov-00
Beginning Pool Balance $182,685,275.88 $175,221,766.25 $165,338,958.59 $157,331,921.34 $150,010,353.13
A) Loss Trigger:
Principal of Contracts Charged Off $471,941.02 $1,013,438.89 $716,252.10 $267,984.59 $561,796.55
Recoveries $434,375.75 $452,817.34 $455,568.52 $838,978.76 $551,920.63
</TABLE>
Total Charged Off (Months 5, 4, 3) $2,201,632.01
Total Recoveries (Months 3, 2, 1) $1,846,467.91
Net Loss / (Recoveries) for 3 Mos $355,164.10 (a)
Total Balance (Months 5, 4, 3) $523,246,000.72 (b)
Loss Ratio Annualized [(a/b) * (12)] 0.81452%
Trigger: Is Ratio > 1.5% No
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Sep-00 Oct-00 Nov-00
B) Delinquency Trigger: $3,330,114.41 $3,566,409.58 $4,688,611.11
Balance delinquency 60+ days 2.01411% 2.26681% 3.12553%
As % of Beginning Pool Balance 1.86855% 1.87999% 2.46881%
Three Month Average
</TABLE>
Trigger: Is Average > 2.0% Yes
C) Noteholders Percent Trigger: 2.22099%
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 November 2000
Distribution Date of December 15, 2000
Servicer Certificate #19
Original Pool Amount $714,764,750.47
Beginning Pool Balance $402,653,545.87
Beginning Pool Factor 0.5633372
Principal and Interest Collections:
Principal Collected (Incl. Servicer Advance Repay) $13,190,085.52
Interest Collected $2,725,362.66
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds / Recoveries $1,377,765.70
Total Additional Deposits $1,377,765.70
Repos / Chargeoffs $1,820,901.51
Aggregate Number of Notes Charged Off 196
Total Available Funds $17,293,213.88
Ending Pool Balance $387,642,558.84
Ending Pool Factor 0.5423359
Servicing Fee $335,544.62
Repayment of Servicer Advances $0.00
Reserve Account:
Beginning Balance (see Memo Item) $21,194,305.72
Target Percentage 10.00%
Target Balance $38,764,255.88
Minimum Balance $14,295,295.01
(Release) / Deposit ($118,437.88)
Ending Balance $21,075,867.84
Current Weighted Average APR: 8.342%
Current Weighted Average Remaining Term (months): 33.76
Delinquencies Dollars Notes
Installments: 1 - 30 days $3,030,769.22 2,768
31 - 60 days $1,336,839.57 821
60+ days $462,224.02 271
Total: $4,829,832.81 2,793
Balances: 60+ days $11,969,834.07 271
Memo Item - Reserve Account
Prior Month $21,139,311.16
+ Invest. Income $118,437.88
+ Excess Serv. $0.00
+ Transfer (to) / from Collections Account ($63,443.32)
Beginning Balance $21,194,305.72
<PAGE>
Navistar Financial 1999 - A Owner Trust
For the Month of November 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 $402,653,545.87
Ending Pool Balance $387,642,558.84
Collected Principal $13,190,085.52
Collected Interest $2,725,362.66
Charge - Offs $1,820,901.51
Liquidation Proceeds / Recoveries $1,377,765.70
Servicing $335,544.62
Cash Transfer from Reserve Account $63,443.32
Total Collections Avail for Debt Service $17,021,112.58
Beginning Balance $402,653,545.88 $0.00 $37,667,687.57 $200,000,000.00 $145,745,000.00 $19,240,858.31
Interest Due $2,010,125.55 $0.00 $174,213.06 $991,666.67 $744,514.04 $99,731.78
Interest Paid $2,010,125.55 $0.00 $174,213.06 $991,666.67 $744,514.04 $99,731.78
Principal Due $15,010,987.03 $0.00 $14,485,602.48 $0.00 $0.00 $525,384.55
Principal Paid $15,010,987.03 $0.00 $14,485,602.48 $0.00 $0.00 $525,384.54
Ending Balance $387,642,558.85 $0.00 $23,182,085.09 $200,000,000.00 $145,745,000.00 $18,715,473.77
Note / Certificate Pool Factor 0.0000 0.1177 1.0000 1.0000 0.7480
(Ending Balance / Original Pool Amount)
Total Distributions $17,021,112.58 $0.00 $14,659,815.54 $991,666.67 $744,514.04 $625,116.32
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)
Beginning Reserve Acct Balance $21,194,305.72
(Release) / Draw ($118,437.88)
Ending Reserve Acct Balance $21,075,867.84
</TABLE>
<PAGE>
Navistar Financial 1999 - A Owner Trust
For the Month of November 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
Jul-00 Aug-00 Sep-00 Oct-00 Nov-00
------ ------ ------ ------ ------
Beginning Pool Balance $466,968,567.50 $451,619,634.81 $434,307,599.46 $419,516,508.08 $402,653,545.87
A) Loss Trigger:
Principal of Contracts Charged Off $769,977.20 $1,348,447.58 $907,881.51 $2,092,327.07 $1,820,901.51
Recoveries $936,067.84 $1,150,961.70 $634,138.83 $1,494,577.38 $1,377,765.70
</TABLE>
Total Charged Off (Months 5, 4, 3) $3,026,306.29
Total Recoveries (Months 3, 2, 1) $3,506,481.91
Net Loss / (Recoveries) for 3 Mos ($480,175.62)(a)
Total Balance (Months 5, 4, 3) $1,352,895,801.77 (b)
Loss Ratio Annualized [(a/b) * (12)] -0.4259%
Trigger: Is Ratio > 1.5% No
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Sep-00 Oct-00 Nov-00
------ ------ ------
B) Delinquency Trigger: $7,712,959.55 $6,473,592.88 $11,969,834.07
Balance delinquency 60+ days 1.77592% 1.54311% 2.97274%
As % of Beginning Pool Balance 1.53941% 1.58152% 2.09726%
Three Month Average
</TABLE>
Trigger: Is Average > 2.0% Yes
C) Noteholders Percent Trigger: 2.94864%
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 November 2000
Distribution Date of November 15, 2000
Servicer Certificate #10
Original Pool Amount $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 $384,929,019.74
Beginning Pool Factor 0.8103769
Principal and Interest Collections:
Principal Collected (Incl. Servicer Advance Repay) $7,810,193.08
Interest Collected $2,947,744.77
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds / Recoveries $512,873.99
Total Additional Deposits $512,873.99
Repos / Chargeoffs $822,965.73
Aggregate Number of Notes Charged Off 98
Total Available Funds $11,270,811.84
Ending Pool Balance $376,295,860.93
Ending Pool Factor 0.7922018
Servicing Fee $320,774.18
Repayment of Servicer Advances $0.00
Reserve Account:
Beginning Balance (see Memo Item) $20,351,494.39
Target Percentage 5.25%
Target Balance $19,755,532.70
Minimum Balance $9,105,143.30
(Release) / Deposit ($595,961.69)
Ending Balance $19,755,532.70
Current Weighted Average APR: 9.201%
Current Weighted Average Remaining Term (months): 45.12
Delinquencies Dollars Notes
Installments: 1 - 30 days $2,411,551.35 2,327
31 - 60 days $836,572.01 731
60+ days $250,424.56 131
Total: $3,498,547.92 2,329
Balances: 60+ days $7,725,802.02 131
Memo Item - Reserve Account
Prior Month $20,208,773.54
+ 3/13 Transfer $110,394.97
+ Invest. Income $32,325.88
+ Excess Serv. $0.00
Transfer (to) / from Collections Account $20,351,494.39
<PAGE>
For the Month of November 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
--------------- ----------- ----------- ----------- ----------- -------------
$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 6.0800% 6.8200% 7.2000% 7.3400% 7.4700%
Beginning Pool Balance $384,929,019.74
Ending Pool Balance $376,295,860.93
Collected Principal $7,810,193.08
Collected Interest $2,947,744.77
Charge - Offs $822,965.73
Liquidation Proceeds / Recoveries $512,873.99
Servicing $320,774.18
Cash Transfer from Reserve Account $0.00
Total Collections Avail for Debt Service$10,950,037.66
Beginning Balance $384,929,019.74 $0.00 $136,156,681.50 $110,000,000.00 $121,187,500.00 $17,584,838.24
Interest Due $2,284,552.97 $0.00 $773,823.81 $660,000.00 $741,263.54 $109,465.62
Interest Paid $2,284,552.97 $0.00 $773,823.81 $660,000.00 $741,263.54 $109,465.62
Principal Due $8,633,158.81 $0.00 $8,309,415.35 $0.00 $0.00 $323,743.46
Principal Paid $8,633,158.81 $0.00 $8,309,415.35 $0.00 $0.00 $323,743.46
Ending Balance $376,295,860.93 0.0000 127,847,266.15 110,000,000.00 121,187,500.00 17,261,094.78
Note / Certificate Pool Factor 0.0000 0.9003 1.0000 1.0000 0.9690
(Ending Balance / Original Pool Amount)
Total Distributions $10,917,711.78 $0.00 $9,083,239.16 $660,000.00 $741,263.54 $433,209.08
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 $32,325.88
(see Memo Item - Reserve Account)
Beginning Reserve Acct Balance $20,351,494.39
(Release) / Draw ($595,961.69)
Ending Reserve Acct Balance $19,755,532.70
</TABLE>
<PAGE>
For the Month of November 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
Jul-00 Aug-00 Sep-00 Oct-00 Nov-00
------ ------ ------ ------ ------
Beginning Pool Balance $424,904,426.91 $415,648,446.06 $405,255,303.51 $395,679,940.21 $384,929,019.74
A) Loss Trigger:
Principal of Contracts Charged Off $538,295.53 $1,170,652.72 $739,288.02 $863,914.62 $822,965.73
Recoveries $262,196.38 $570,204.65 $329,839.91 $770,991.06 $512,873.99
</TABLE>
Total Charged Off (Months 5, 4, 3) $2,448,236.27
Total Recoveries (Months 3, 2, 1) $1,613,704.96
Net Loss / (Recoveries) for 3 Mos $834,531.31(a)
Total Balance (Months 5, 4, 3) $1,245,808,176.48(b)
Loss Ratio Annualized [(a/b) * (12)] $0.0838
Trigger: Is Ratio > 1.5% No
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Sep-00 Oct-00 Nov-00
------ ------ ------
B) Delinquency Trigger: $4,073,472.59 $4,921,082.49 $7,725,802.02
Balance delinquency 60+ days 1.00516% 1.24370% 2.00707%
As % of Beginning Pool Balance 1.18220% 1.07935% 1.41865%
Three Month Average
</TABLE>
Trigger: Is Average > 2.0% No
C) Noteholders Percent Trigger: 4.1591%
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 20.7
Navistar Financial 2000 - B Owner Trust
For the Month of November 2000
Distribution Date of December 15, 2000
Servicer Certificate #2
Original Pool Amount $764,710,097.53
Beginning Pool Balance $741,556,161.94
Beginning Pool Factor 0.9697219
Principal and Interest Collections:
Principal Collected (Incl. Servicer Advance Repay) $17,161,252.02
Interest Collected $5,987,616.63
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds / Recoveries $49,563.20
Total Additional Deposits $49,563.20
Repos / Chargeoffs $1,969,548.20
Aggregate Number of Notes Charged Off 16
Total Available Funds $23,198,431.85
Ending Pool Balance $722,425,361.72
Ending Pool Factor 0.9447049
Servicing Fee $617,963.47
Repayment of Servicer Advances $0.00
Reserve Account:
Beginning Balance (see Memo Item) $38,598,048.95
Target Percentage 5.50%
Target Balance $39,733,394.89
Minimum Balance $15,294,201.95
(Release) / Deposit ($11,889.16)
Ending Balance $38,586,159.79
Current Weighted Average APR: 9.780%
Current Weighted Average Remaining Term (months): 49.46
Delinquencies Dollars Notes
Installments: 1 - 30 days $3,650,758.97 3,318
31 - 60 days $935,924.62 764
60+ days $202,954.71 122
Total: $4,789,638.30 3,327
Balances: 60+ days $8,127,102.47 122
Memo Item - Reserve Account
Prior Month $39,287,200.59
+ 3/13 Transfer $11,889.16
+ Invest. Income $0.00
+ Excess Serv. ($701,040.80)
Transfer (to) / from Collections Account $38,598,048.95
<PAGE>
For the Month of November 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
--------------- ----------- ----------- ----------- ----------- -------------
$764,710,097.53 $140,000,000.00 232,400,000.00 $184,900,000.00 $178,733,000.00 $28,677,097.53
Original Pool Amount
Distributions:
Distribution Percentages 100.00% 0.00% 0.00% 0.00% 0.00%
Coupon 6.7300% 6.6600% 6.6700% 6.7800% 7.0300%
Beginning Pool Balance $741,556,161.94
Ending Pool Balance $722,425,361.72
Collected Principal $17,161,252.02
Collected Interest $5,987,616.63
Charge - Offs $1,969,548.20
Liquidation Proceeds / Recoveries $49,563.20
Servicing $617,963.47
Cash Transfer from Reserve Account $701,040.80
Total Collections Avail for Debt Service$23,281,509.18
Beginning Balance $741,556,161.94 $116,846,064.41 232,400,000.00 $184,900,000.00 $178,733,000.00 $28,677,097.53
Interest Due $4,150,708.96 $655,311.68 $1,289,820.00 $1,027,735.83 $1,009,841.45 $168,000.00
Interest Paid $4,150,708.96 $655,311.68 $1,289,820.00 $1,027,735.83 $1,009,841.45 $168,000.00
Principal Due $19,130,800.22 $19,130,800.22 $0.00 $0.00 $0.00 $0.00
Principal Paid $19,130,800.22 $19,130,800.22 $0.00 $0.00 $0.00 $0.00
Ending Balance $722,425,361.72 $97,715,264.19 232,400,000.00 184,900,000.00 178,733,000.00 28,677,097.53
Note / Certificate Pool Factor 0.6980 1.0000 1.0000 1.0000 1.0000
(Ending Balance / Original Pool Amount)
Total Distributions $23,281,509.18 $0.00 $0.00 $0.00 $0.00 $0.00
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)
Beginning Reserve Acct Balance $38,598,048.95
(Release) / Draw ($11,889.16)
Ending Reserve Acct Balance $38,586,159.79
</TABLE>
<PAGE>
For the Month of November 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
Jul-00 Aug-00 Sep-00 Oct-00 Nov-00
------ ------ ------ ------ ------
Beginning Pool Balance N/A N/A N/A $764,710,097.53 $741,556,161.94
A) Loss Trigger:
Principal of Contracts Charged Off N/A N/A N/A $637,732.76 $1,969,548.20
Recoveries N/A N/A N/A $0.00 $49,563.20
</TABLE>
Total Charged Off (Months 5, 4, 3) N\A
Total Recoveries (Months 3, 2, 1) $49,563.20
Net Loss / (Recoveries) for 3 Mos N\A (a)
Total Balance (Months 5, 4, 3) $0.00 (b)
Loss Ratio Annualized [(a/b) * (12)] N\A
Trigger: Is Ratio > 1.5% No
B) Delinquency Trigger: Sep-00 Oct-00 Nov-00
Balance delinquency 60+ days N/A $2,426,474.18 $8,127,102.47
As % of Beginning Pool Balance N\A 0.31731% 1.09595%
Three Month Average N/A 0.10577% 0.47109%
Trigger: Is Average > 2.0% No
C) Noteholders Percent Trigger: 5.0459%
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