-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Q+6D4537T0XItrLQmJWUJWmL3iOL8Q1f9jKeowRh1a5KPdtmGx9lUbXGeR+fxnZs qa3aP0nDvYLNwWm1dWcjUg== 0001104659-08-040355.txt : 20080617 0001104659-08-040355.hdr.sgml : 20080617 20080617113620 ACCESSION NUMBER: 0001104659-08-040355 CONFORMED SUBMISSION TYPE: 10-D PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080531 FILED AS OF DATE: 20080617 DATE AS OF CHANGE: 20080617 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CNH Equipment Trust 2008-A CENTRAL INDEX KEY: 0001428525 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-D SEC ACT: 1934 Act SEC FILE NUMBER: 333-130656-06 FILM NUMBER: 08902367 BUSINESS ADDRESS: STREET 1: 6900 VETERANS BLVD CITY: BURR RIDGE STATE: IL ZIP: 60527 BUSINESS PHONE: 630-887-5451 MAIL ADDRESS: STREET 1: 6900 VETERANS BLVD CITY: BURR RIDGE STATE: IL ZIP: 60527 10-D 1 a08-16699_110d.htm 10-D

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-D

 

ASSET-BACKED ISSUER

DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

 

For the distribution period from

May 1, 2008 to May 31, 2008

 

Commission File Number of issuing entity: 333-130656-06

 

CNH EQUIPMENT TRUST 2008-A

(Exact name of issuing entity as specified in its charter)

 

Commission File Number of depositor:  333-130656

 

CNH CAPITAL RECEIVABLES LLC

(Exact name of depositor as specified in its charter)

 

CNH CAPITAL AMERICA LLC

(Exact name of sponsor as specified in its charter)

 

Delaware

(State or other jurisdiction of incorporation or organization of the issuing entity)

 

26-6262609

(I.R.S. Employer Identification No.)

 

6900 VETERANS BOULEVARD

 

 

BURR RIDGE, ILLINOIS

 

60527-7111

(Address of principal executive offices of the issuing entity)

 

(Zip Code)

 

(630) 887-2095

(Telephone number, including area code)

 

n/a

(Former name, former address, if changed since last report)

 

Registered/reporting pursuant to (check one)

 

Title of Class

 

Section 12(b)

 

Section 12(g)

 

Section 15(d)

 

Name of exchange
(If section 12(b)

Asset Backed Notes, Class A-1

 

 

 

 

 

X

 

 

Asset Backed Notes, Class A-2

 

 

 

 

 

X

 

 

Asset Backed Notes, Class A-3

 

 

 

 

 

X

 

 

Asset Backed Notes, Class A-4a

 

 

 

 

 

X

 

 

Asset Backed Notes, Class A-4b

 

 

 

 

 

X

 

 

Asset Backed Notes, Class B

 

 

 

 

 

X

 

 

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes  x   No  o

 

 



 

PART I – DISTRIBUTION INFORMATION

 

Item 1. Distribution and Pool Performance Information.

 

On June 16, 2008, a distribution was made to holders of notes of CNH Equipment Trust 2008-A.

 

The distribution report is attached as Exhibit 99.1 to this Form 10-D.

 

PART II – OTHER INFORMATION

 

Item 9. Exhibits.

 

(a)

 

The following is a list of documents filed as part of this Report on Form 10-D:

 

 

 

 

 

99.1

Monthly report distributed to holders of notes of CNH Equipment Trust 2008-A, relating to June 16, 2008 distribution.

 

 

 

(b)

 

The exhibits required to be filed by Registrant pursuant to Item 601 of Regulation S-K are listed above and in the Exhibit Index that immediately follows the signature page hereof.

 

2



 

SIGNATURES

 

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.

 

 

 

CNH CAPITAL RECEIVABLES LLC

 

(Depositor)

 

 

 

 

Date: June 16, 2008

By:

  /s/ THOMAS N. BECKMANN

 

 

  Name: Thomas N. Beckmann

 

 

  Title    Assistant Treasurer

 

S-1



 

EXHIBIT INDEX

 

Exhibit Number

 

Description

 

 

 

99.1

 

Monthly report distributed to holders of CNH Equipment Trust 2008-A, relating to the June 16, 2008 distribution.

 


EX-99.1 2 a08-16699_1ex99d1.htm EX-99.1

Exhibit 99.1

 

CNH Equipment Trust 2008-A

 

 

 

 

 

 

 

 

$133,000,000.00 Class A-1  2.75275% Asset Backed Notes due May 11, 2009

 

 

 

 

 

 

$133,000,000.00 Class A-2  Floating Rate Asset Backed Notes due April 15, 2011

 

 

 

 

 

 

$125,000,000 Class A-3a  4.12% Asset Backed Notes due May 15, 2012

 

 

 

 

 

 

$ 0  Class A-3b  0% Asset Backed Notes

 

 

 

 

 

 

$69,000,000 Class A-4a  4.93% Asset Backed Notes due August 15, 2014

 

 

 

 

 

 

$25,508,000 Class A-4b  Floating Rate Asset Backed Notes due August 15, 2014

 

 

 

 

 

 

 $12,449,000 Class B  0% Asset Backed Notes due August 15, 2014

 

 

 

 

 

 

 $0  Asset Backed Certificate

 

 

 

 

 

 

 

 

 

 

 

 

 

Please contact Kathy Aber at 262-636-7706 with any questions regarding this report or email abs@cnh.com

 

 

 

 

 

For additional information consult http://investors.cnh.com

 

 

 

 

 

 

 

 

 

 

Cutoff Date

 

 

5/31/2008

 

 

 

 

 

Date Added

 

3/31/2008

4/30/2008

5/31/2008

6/30/2008

 

 

 

Pool

Period

Pool 1

Pool 2

Pool 3

Pool 4

 

 

Scheduled Cashflows

0

1,955,257.51

0.00

0.00

0.00

 

 

 

1

6,360,448.08

0.00

0.00

0.00

 

 

 

2

7,285,150.66

0.00

0.00

0.00

 

 

 

3

12,411,291.96

0.00

0.00

0.00

 

 

 

4

30,360,253.58

0.00

0.00

0.00

 

 

 

5

28,932,822.59

0.00

0.00

0.00

 

 

 

6

26,419,907.86

0.00

0.00

0.00

 

 

 

7

14,886,373.85

0.00

0.00

0.00

 

 

 

8

7,769,632.47

0.00

0.00

0.00

 

 

 

9

4,883,361.08

0.00

0.00

0.00

 

 

 

10

5,822,227.98

0.00

0.00

0.00

 

 

 

11

5,227,896.31

0.00

0.00

0.00

 

 

 

12

5,013,125.43

0.00

0.00

0.00

 

 

 

13

4,827,236.23

0.00

0.00

0.00

 

 

 

14

4,942,979.32

0.00

0.00

0.00

 

 

 

15

9,504,715.99

0.00

0.00

0.00

 

 

 

16

26,267,989.74

0.00

0.00

0.00

 

 

 

17

24,661,975.01

0.00

0.00

0.00

 

 

 

18

23,437,850.08

0.00

0.00

0.00

 

 

 

19

10,595,437.29

0.00

0.00

0.00

 

 

 

20

5,929,540.33

0.00

0.00

0.00

 

 

 

21

4,300,405.65

0.00

0.00

0.00

 

 

 

22

5,048,351.94

0.00

0.00

0.00

 

 

 

23

4,616,970.31

0.00

0.00

0.00

 

 

 

24

4,338,581.07

0.00

0.00

0.00

 

 

 

25

4,055,666.59

0.00

0.00

0.00

 

 

 

26

4,014,353.39

0.00

0.00

0.00

 

 

 

27

8,355,889.73

0.00

0.00

0.00

 

 

 

28

24,232,233.39

0.00

0.00

0.00

 

 

 

29

22,455,147.66

0.00

0.00

0.00

 

 

 

30

21,051,972.94

0.00

0.00

0.00

 

 

 

31

8,091,360.77

0.00

0.00

0.00

 

 

 

32

4,389,174.34

0.00

0.00

0.00

 

 

 

33

3,048,170.33

0.00

0.00

0.00

 

 

 

34

3,697,798.50

0.00

0.00

0.00

 

 

 

35

3,300,344.17

0.00

0.00

0.00

 

 

 

36

3,055,593.13

0.00

0.00

0.00

 

 

 

37

2,779,685.49

0.00

0.00

0.00

 

 

 

38

2,774,986.65

0.00

0.00

0.00

 

 

 

39

6,484,805.76

0.00

0.00

0.00

 

 

 

40

19,647,562.43

0.00

0.00

0.00

 

 

 

41

18,799,147.56

0.00

0.00

0.00

 

 

 

42

17,419,934.70

0.00

0.00

0.00

 

 

 

43

6,813,582.16

0.00

0.00

0.00

 

 

 

44

3,769,437.31

0.00

0.00

0.00

 

 

 

45

2,111,003.35

0.00

0.00

0.00

 

 

 

46

2,626,072.79

0.00

0.00

0.00

 

 

 

47

2,235,175.23

0.00

0.00

0.00

 

 

 

48

2,080,995.93

0.00

0.00

0.00

 

 

 

49

1,645,252.73

0.00

0.00

0.00

 

 

 

50

1,611,572.46

0.00

0.00

0.00

 

 

 

51

5,723,663.64

0.00

0.00

0.00

 

 

 

52

17,076,423.04

0.00

0.00

0.00

 

 

 

53

16,155,699.71

0.00

0.00

0.00

 

 

 

54

14,143,908.80

0.00

0.00

0.00

 

 

 

55

2,632,534.77

0.00

0.00

0.00

 

 

 

56

470,493.47

0.00

0.00

0.00

 

 

 

57

236,447.68

0.00

0.00

0.00

 

 

 

58

332,701.25

0.00

0.00

0.00

 

 

 

59

272,756.17

0.00

0.00

0.00

 

 

 

60

305,999.59

0.00

0.00

0.00

 

 

 

61

289,209.31

0.00

0.00

0.00

 

 

 

62

188,582.77

0.00

0.00

0.00

 

 

 

63

708,199.69

0.00

0.00

0.00

 

 

 

64

2,055,649.04

0.00

0.00

0.00

 

 

 

65

2,021,983.64

0.00

0.00

0.00

 

 

 

66

1,982,658.77

0.00

0.00

0.00

 

 

 

67

164,825.44

0.00

0.00

0.00

 

 

 

68

0.00

0.00

0.00

0.00

 

 

 

69

0.00

0.00

0.00

0.00

 

 

 

70

0.00

0.00

0.00

0.00

 

 

 

71

0.00

0.00

0.00

0.00

 

 

 

72

0.00

0.00

0.00

0.00

 

 

 

73

0.00

0.00

0.00

0.00

 

 

 

74

0.00

0.00

0.00

0.00

 

 

 

75

0.00

0.00

0.00

0.00

 

 

 

76

0.00

0.00

0.00

0.00

 

 

 

77

0.00

0.00

0.00

0.00

 

 

 

78

0.00

0.00

0.00

0.00

 

 

 

 

 

 

 

 

Total Amount of Scheduled Cashflow

 

 

Total

551,108,438.59

0.00

0.00

0.00

Discount Rate

 

 

 

7.000%

7.000%

7.000%

7.000%

Beginning Contract Value

 

 

 

488,337,167.95

0.00

0.00

0.00

Scheduled Contract Value Decline

 

 

 

4,667,421.40

0.00

0.00

0.00

Unscheduled Contract Value Decline

 

 

 

4,419,299.89

0.00

0.00

0.00

Additional Contract Value Added

 

 

 

0.00

0.00

0.00

0.00

Ending Contract Value

 

 

 

479,250,446.66

0.00

0.00

0.00

 

 

 

 

 

 

 

 

 

1



 

CNH Equipment Trust 2008-A

 

 

 

 

 

 

$133,000,000.00 Class A-1  2.75275% Asset Backed Notes due May 11, 2009

 

 

 

 

$133,000,000.00 Class A-2  Floating Rate Asset Backed Notes due April 15, 2011

 

 

 

 

$125,000,000 Class A-3a  4.12% Asset Backed Notes due May 15, 2012

 

 

 

 

 

$ 0  Class A-3b  0% Asset Backed Notes

 

 

 

 

 

 

$69,000,000 Class A-4a  4.93% Asset Backed Notes due August 15, 2014

 

 

 

 

$25,508,000 Class A-4b  Floating Rate Asset Backed Notes due August 15, 2014

 

 

 

 

 $12,449,000 Class B  0% Asset Backed Notes due August 15, 2014

 

 

 

 

 

 $0  Asset Backed Certificate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dated Date (30/360)

 

 

 

 

5/15/2008

 

Dated Date (act/360)

 

 

 

 

5/15/2008

 

Scheduled Payment Date

 

 

 

 

6/15/2008

 

Actual Payment Date

 

 

 

 

6/16/2008

 

Days in accrual period (30/360)

 

 

 

 

30

 

Days in accrual period (act/360)

 

 

 

 

32

 

1 month LIBOR Rate

 

 

 

 

2.51438%

 

A-2 Note Rate for the next Interest Period

 

 

 

 

3.71438%

 

A-3b Note Rate for the next Interest Period

 

 

 

 

2.51438%

 

A-4b Note Rate for the next Interest Period

 

 

 

 

4.46438%

 

Note Distribution Account Deposit

 

 

 

 

$10,649,046.86

 

Certificate Distribution Account deposit

 

 

 

 

$943,560.22

 

First Principal Payment Amount

 

 

 

 

$0.00

 

Note Monthly Principal Distributable Amount

 

 

 

 

$9,086,721.29

 

Spread Account Initial Deposit

 

 

 

 

$11,702,002.07

 

Amount required to be deposited into the Collection Account during the calendar month

 

 

$11,926,689.72

 

Amounts to be paid to Backup Servicer as successor servicer to reimburse liquidation expenses

 

 

$0.00

 

 

 

 

 

 

 

 

 

Collateral Summary

 

 

 

 

 

 

Wtd. Average Discount Rate

 

 

 

 

7.000%

 

Beginning Contract Value

 

 

 

 

488,337,167.95

 

Scheduled Contract Value Decline

 

 

 

 

4,667,421.40

 

Unscheduled Contract Value Decline

 

 

 

 

4,419,299.89

 

Additional Contract Value Purchased

 

 

 

 

0.00

 

Ending Contract Value

 

 

 

 

479,250,446.66

 

 

 

 

 

 

 

 

 

Beginning Pre-funding Account Balance

 

 

 

 

0.00

 

Pre-funding Account Balance at [payment date]

 

 

 

 

$0.00

 

Pre-funding Account Balance at [payment date]

 

 

 

 

$0.00

 

Pre-funding Account Balance at [payment date]

 

 

 

 

$0.00

 

Pre-funding Account Balance at [final payment date]

 

 

 

 

$0.00

 

Ending Pre-funding Account Balance

 

 

 

 

0.00

 

 

 

 

 

 

 

 

 

Total Beginning Balance (Pool Balance + Pre-funding Account Balance)

 

 

 

488,337,167.95

 

Pool Balance as of end of last day of preceding Collection Period

 

 

 

488,337,167.95

 

Total Ending Balance (Pool Balance + Pre-funding Account Balance)

 

 

 

479,250,446.66

 

 

 

 

 

 

 

 

 

Purchase amount of Receivables purchased due to Modification Events in the related Collection Period

 

$19,805.71

 

Purchase amount of all other purchases and repurchases in the related Collection Period

$0.00

 

 

 

 

 

 

 

 

 

Collections and Reinvestment Income

 

 

 

 

 

 

Receipts During the period (net of servicer’s liquidation expenses)

 

 

 

$11,906,884.01

 

 

 

 

 

 

 

 

 

Warranty Repurchases

 

 

 

 

 

 

Contracts deferred beyond Final Scheduled Maturity Date

 

 

 

$0.00

 

Government obligors

 

 

 

 

$0.00

 

Total Warranty Repurchases

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

Total Collections For The Period

 

 

 

 

$11,926,689.72

 

 

 

 

 

 

 

 

 

Reinvestment Income (excluding Pre-funding Account)

 

 

 

$54,791.70

 

Reinvestment Income on Pre-funding Account)

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

Net Swap Receipts

 

 

 

 

$26,378.92

 

Net Swap Termination Payments due Trust from the Swap CounterParty

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

Total Collections + Reinvestment Income For The Period + Swap Receipt

 

 

 

$12,007,860.34

 

 

 

 

 

 

 

 

 

Other--Back-Up Servicing Account Investment Earnings

 

 

 

$357.21

 

 

 

 

 

 

 

 

 

Swap Termination Payments due to Swap CounterParty

 

 

 

$0.00

 

Prior Swap Termination Payment Shortfall

 

 

 

 

$0.00

 

Priority Swap Termination Payments

 

 

 

 

 

 

Total Swap Termination Payment due to Swap CounterParty

 

 

 

$0.00

 

 

 

 

 

 

 

 

2



 

CNH Equipment Trust 2008-A

 

 

 

 

 

 

$133,000,000.00 Class A-1  2.75275% Asset Backed Notes due May 11, 2009

 

 

 

 

$133,000,000.00 Class A-2  Floating Rate Asset Backed Notes due April 15, 2011

 

 

 

 

$125,000,000 Class A-3a  4.12% Asset Backed Notes due May 15, 2012

 

 

 

 

$ 0  Class A-3b  0% Asset Backed Notes

 

 

 

 

 

 

$69,000,000 Class A-4a  4.93% Asset Backed Notes due August 15, 2014

 

 

 

 

$25,508,000 Class A-4b  Floating Rate Asset Backed Notes due August 15, 2014

 

 

 

 

 $12,449,000 Class B  0% Asset Backed Notes due August 15, 2014

 

 

 

 

 

 $0  Asset Backed Certificate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual Payment Date

 

General

Party Receiving

6/16/2008

 

 

 

 

Purpose of

Fee or Expense

 

 

Calculation of Distributable Amounts

 

Fee or Expense

Amount

 

 

 

Backup Servicer Engaged?

 

 

 

 

YES

 

 

Current Backup Servicing Fee Due

 

 

 

 

$8,138.95

 

 

Past Due Backup Servicing Fee

 

 

 

 

$0.00

 

 

Total Backup Servicing Fee Due

 

Provide for backup servicer

SST

$8,138.95

 

 

 

 

 

 

 

 

 

 

CNH or SST?

 

 

 

 

CNH

 

 

Current Servicing Fee Due

 

 

 

 

$406,947.64

 

 

Past Due Servicing Fee

 

 

 

 

$0.00

 

 

Total Servicing Fee Due

 

Provide for servicer as required

NH Credit

$406,947.64

 

 

 

 

 

 

Company LLC

 

 

 

Current Administration Fee Due

 

$500.00

 

$166.67

 

 

Past Due Administration Fee

 

 

 

 

$0.00

 

 

Total Administration Fee Due

 

Provide for trust administrator

CNH Capital

$166.67

 

 

 

 

 

 

America LLC

 

 

 

Reimburseable Expenses of the Backup Servicer Due

 

 

 

$0.00

 

 

Past Due Reimburseable Expenses of the Backup Servicer

 

 

 

$0.00

 

 

Total Reimburseable Expenses of the Backup Servicer Due

To cover expenses of backup servicer

SST

$0.00

 

 

 

 

 

 

 

 

 

 

Reimburseable Expenses of the Servicer Due

 

 

 

 

$0.00

 

 

Past Due Reimburseable Expenses of the Servicer

 

 

 

$0.00

 

 

Total Reimburseable Expenses of the Servicer Due

To cover expenses of servicer

NH Credit

$0.00

 

 

 

 

 

 

Company LLC

 

 

 

Total Principal Balance of Notes (Beginning of Period)

 

 

 

$488,337,167.95

 

 

A-1 notes Beginning Principal balance

 

 

 

 

$123,380,167.95

 

 

A-2 notes Beginning Principal balance

 

 

 

 

$133,000,000.00

 

 

A-3a notes Beginning Principal balance

 

 

 

 

$125,000,000.00

 

 

A-3b notes Beginning Principal balance

 

 

 

 

$0.00

 

 

A-4a notes Beginning Principal balance

 

 

 

 

$69,000,000.00

 

 

A-4b notes Beginning Principal balance

 

 

 

 

$25,508,000.00

 

 

B notes Beginning Principal balance

 

 

 

 

$12,449,000.00

 

 

 

 

Coupon/

Swap Adj.

 

 

 

 

 

Type

Spread

Coupon

Daycount

 

 

 

A-1 notes Current Interest Due

Fix

2.75275%

2.75275%

act/360

$301,897.56

 

 

A-2 notes Current Interest Due

Flt

1.20000%

3.64400%

act/360

$439,122.26

 

 

A-3a notes Current Interest Due

Fix

4.12000%

4.12000%

30/360

$429,166.67

 

 

A-3b notes Current Interest Due

 

 

0.00000%

act/360

$0.00

 

 

A-4a notes Current Interest Due

Fix

4.93000%

4.93000%

30/360

$283,475.00

 

 

A-4b notes Current Interest Due

Flt

1.95000%

4.98200%

act/360

$101,224.36

 

 

B notes Current Interest Due

Fix

0.00000%

0.00000%

30/360

$0.00

 

 

 

 

 

 

 

 

 

 

A-1 notes Past Due Interest

 

 

 

 

$0.00

 

 

A-2 notes Past Due Interest

 

 

 

 

$0.00

 

 

A-3a notes Past Due Interest

 

 

 

 

$0.00

 

 

A-3b notes Past Due Interest

 

 

 

 

$0.00

 

 

A-4a notes Past Due Interest

 

 

 

 

$0.00

 

 

A-4b notes Past Due Interest

 

 

 

 

$0.00

 

 

B notes Past Due Interest

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

 

A-1 notes Interest Due on Past Due Interest

 

 

 

 

$0.00

 

 

A-2 notes Interest Due on Past Due Interest

 

 

 

 

$0.00

 

 

A-3a notes Interest Due on Past Due Interest

 

 

 

 

$0.00

 

 

A-3b notes Interest Due on Past Due Interest

 

 

 

 

$0.00

 

 

A-4a notes Interest Due on Past Due Interest

 

 

 

 

$0.00

 

 

A-4b notes Interest Due on Past Due Interest

 

 

 

 

$0.00

 

 

B notes Interest Due on Past Due Interest

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

 

A-1 notes Total Interest Due

 

 

 

 

$301,897.56

 

 

A-2 notes Total Interest Due

 

 

 

 

$439,122.26

 

 

A-3a notes Total Interest Due

 

 

 

 

$429,166.67

 

 

A-3b notes Total Interest Due

 

 

 

 

$0.00

 

 

A-4a notes Total Interest Due

 

 

 

 

$283,475.00

 

 

A-4b notes Total Interest Due

 

 

 

 

$101,224.36

 

 

B notes Total Interest Due

 

 

 

 

$0.00

 

 

 

 

1 Month LIBOR

 

 

 

 

 

 

 

Fixed Coupon

 

 

 

 

 

A-2 Net Swap Payment Due

 

2.44400%

 

 

$0.00

 

 

A-3b Net Swap Payment Due

 

0.00000%

 

 

$0.00

 

 

A-4b Net Swap Payment Due

 

3.03200%

 

 

$7,439.72

 

 

 

 

 

 

 

 

 

 

A-2 Net Swap Payment Past Due

 

 

 

 

$0.00

 

 

A-3b Net Swap Payment Past Due

 

 

 

 

$0.00

 

 

A-4b Net Swap Payment Past Due

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

 

A-2 Interest on Swap Payment Past Due

 

 

 

 

$0.00

 

 

A-3b Interest on Swap Payment Past Due

 

 

 

 

$0.00

 

 

A-4b Interest on Swap Payment Past Due

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

 

A-2 Total Net Swap Payment Due

 

 

 

 

$0.00

 

 

A-3b Total Net Swap Payment Due

 

 

 

 

$0.00

 

 

A-4b Total Net Swap Payment Due

 

 

 

 

$7,439.72

 

 

 

 

 

 

 

 

 

 

A-2 Net Swap Receipt

 

 

 

 

$26,378.92

 

 

A-3b Net Swap Receipt

 

 

 

 

$0.00

 

 

A-4b Net Swap Receipt

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

 

A-1 notes Principal Due

 

 

 

 

$9,086,721.29

 

 

A-2 notes Principal Due

 

 

 

 

$0.00

 

 

A-3a notes Principal Due

 

 

 

 

$0.00

 

 

A-3b notes Principal Due

 

 

 

 

$0.00

 

 

A-4a notes Principal Due

 

 

 

 

$0.00

 

 

A-4b notes Principal Due

 

 

 

 

$0.00

 

 

Class B notes Principal Due

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

 

Total notes Interest Due

 

 

 

 

$1,554,885.85

 

 

Total notes Principal Due

 

 

 

 

$9,086,721.29

 

 

Net Swap/Termination Payment Due

 

 

 

 

-$18,939.20

 

 

Total notes Distributable Amount

 

 

 

 

$10,622,667.94

 

 

 

 

 

 

 

 

 

 

3



 

CNH Equipment Trust 2008-A

 

 

 

 

 

 

 

$133,000,000.00 Class A-1  2.75275% Asset Backed Notes due May 11, 2009

 

 

 

 

 

$133,000,000.00 Class A-2  Floating Rate Asset Backed Notes due April 15, 2011

 

 

 

 

 

$125,000,000 Class A-3a  4.12% Asset Backed Notes due May 15, 2012

 

 

 

 

 

$ 0  Class A-3b  0% Asset Backed Notes

 

 

 

 

 

 

 

$69,000,000 Class A-4a 4.93% Asset Backed Notes due August 15, 2014

 

 

 

 

 

$25,508,000 Class A-4b Floating Rate Asset Backed Notes due August 15, 2014

 

 

 

 

 

 $12,449,000 Class B 0% Asset Backed Notes due August 15, 2014

 

 

 

 

 

 

 $0 Asset Backed Certificate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual Payment Date

 

 

 

 

6/16/2008

 

 

 

 

 

 

 

 

 

 

 

Cash Available for Distribution

 

 

 

 

 

 

 

 

Total Collections + Reinvestment Income For The Period

 

 

 

$12,007,860.34

 

 

 

 

 

 

 

 

 

 

 

 

Beginning Negative Carry Account

 

 

 

 

$0.00

 

 

 

Deposits from Negative Carry Account  to Distribution Account

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

 

 

 

Beginning Spread Account Balance

 

 

 

 

$11,702,002.07

 

 

 

Additional Deposit to Spread Account from Pre-funding

 

 

 

$0.00

 

 

 

Deposits from Spread Account to Distribution Account

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

 

 

 

Beginning Principal Supplement Account

 

 

 

 

$0.00

 

 

 

Deposits from Principal Supplement Account to Distribution Account

 

 

$0.00

 

 

 

 

 

 

 

 

 

 

 

 

Beginning Pre-Funding Account Balance

 

 

 

 

$0.00

 

 

 

Deposits from Pre-funding Account to Distribution Account

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

 

 

 

Total Cash Available

 

 

 

 

$12,007,860.34

 

 

 

 

 

 

 

 

 

 

 

Cash Allocation (Cashflow Waterfall)

 

 

 

 

 

Available

 

 

 

 

 

 

 

 

Cash

 

 

Backup Servicing Fee Paid

 

 

 

 

$8,138.95

 

 

 

Backup Servicing Fee Shortfall

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

11,999,721.39

 

 

Servicing Fee Paid

 

 

 

 

$406,947.64

 

 

 

Servicing Fee Shortfall

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

$11,592,773.75

 

 

Administration Fee Paid

 

 

 

 

$166.67

 

 

 

Administration Fee Shortfall

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

$11,592,607.08

 

 

Net Swap Payment Paid

 

 

 

 

$7,439.72

 

 

 

Net Swap Payment Shortfall

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

 

 

 

Remaining Cash Available to Pay Note Interest & Swap Termination Payment

 

 

 

$11,585,167.36

 

 

 

 

 

 

 

 

 

 

 

Cash Available to Pay Note Interest

 

 

 

 

$11,585,167.36

 

 

 

Cash Available to Pay Termination Payment

 

 

 

 

$11,585,167.36

 

 

 

 

 

 

 

 

 

 

 

 

Class A-1 notes Interest Paid

 

 

 

 

$301,897.56

 

 

 

Class A-2 notes Interest Paid

 

 

 

 

$439,122.26

 

 

 

Class A-3a notes Interest Paid

 

 

 

 

$429,166.67

 

 

 

Class A-3b notes Interest Paid

 

 

 

 

$0.00

 

 

 

Class A-4a notes Interest Paid

 

 

 

 

$283,475.00

 

 

 

Class A-4b notes Interest Paid

 

 

 

 

$101,224.36

 

 

 

 

 

 

 

 

 

$10,030,281.51

 

 

Class A-1 notes Interest Shortfall

 

 

 

 

$0.00

 

 

 

Class A-2 notes Interest Shortfall

 

 

 

 

$0.00

 

 

 

Class A-3a notes Interest Shortfall

 

 

 

 

$0.00

 

 

 

Class A-3b notes Interest Shortfall

 

 

 

 

$0.00

 

 

 

Class A-4a notes Interest Shortfall

 

 

 

 

$0.00

 

 

 

Class A-4b notes Interest Shortfall

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

 

 

 

Swap Termination Payment Paid

 

 

 

 

$0.00

 

 

 

Swap Termination Payment Shortfall

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

 

 

 

First Principal Payment Amount

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

$10,030,281.51

 

 

Class B notes Interest Paid

 

 

 

 

$0.00

 

 

 

Class B notes Interest Shortfall

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

$10,030,281.51

 

 

Class A-1 notes Principal Paid

 

 

 

 

$9,086,721.29

 

 

 

Class A-2 notes Principal Paid

 

 

 

 

$0.00

 

 

 

Class A-3a notes Principal Paid

 

 

 

 

$0.00

 

 

 

Class A-3b notes Principal Paid

 

 

 

 

$0.00

 

 

 

Class A-4a notes Principal Paid

 

 

 

 

$0.00

 

 

 

Class A-4b notes Principal Paid

 

 

 

 

$0.00

 

 

 

Class B notes Principal Paid

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

943,560.22

 

 

Deposits to Spread Account

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

 

 

 

Swap Termination Payments payable to issuing entity, to the extent not deposited above

 

$0.00

 

 

 

 

 

 

 

 

 

$943,560.22

 

 

Reimbursable expenses of the Backup Servicer Paid

 

 

 

$0.00

 

 

 

Reimbursable expenses of the Backup Servicer Shortfall

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

$943,560.22

 

 

Reimbursable expenses of the Servicer Paid

 

 

 

 

$0.00

 

 

 

Reimbursable expenses of the Servicer Shortfall

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

$943,560.22

 

 

Total Principal Balance of Notes  (End of Period)

 

 

 

 

$479,250,446.66

 

 

 

A-1 notes Ending Principal balance

 

 

 

 

$114,293,446.66

 

 

 

A-2 notes Ending Principal balance

 

 

 

 

$133,000,000.00

 

 

 

A-3a notes Ending Principal balance

 

 

 

 

$125,000,000.00

 

 

 

A-3b notes Ending Principal balance

 

 

 

 

$0.00

 

 

 

A-4a notes Ending Principal balance

 

 

 

 

$69,000,000.00

 

 

 

A-4b notes Ending Principal balance

 

 

 

 

$25,508,000.00

 

 

 

B notes Ending Principal balance

 

 

 

 

$12,449,000.00

 

 

 

 

 

 

 

 

 

 

 

 

Release to Seller as Excess

 

 

 

 

$943,560.22

$943,560.22

 

 

4



 

CNH Equipment Trust 2008-A

 

 

 

 

 

 

 

 

$133,000,000.00 Class A-1  2.75275% Asset Backed Notes due May 11, 2009

 

 

 

 

 

 

$133,000,000.00 Class A-2  Floating Rate Asset Backed Notes due April 15, 2011

 

 

 

 

 

 

$125,000,000 Class A-3a  4.12% Asset Backed Notes due May 15, 2012

 

 

 

 

 

 

$ 0  Class A-3b  0% Asset Backed Notes

 

 

 

 

 

 

$69,000,000 Class A-4a  4.93% Asset Backed Notes due August 15, 2014

 

 

 

 

 

 

$25,508,000 Class A-4b  Floating Rate Asset Backed Notes due August 15, 2014

 

 

 

 

 

 

 $12,449,000 Class B  0% Asset Backed Notes due August 15, 2014

 

 

 

 

 

 

 $0  Asset Backed Certificate

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual Payment Date

 

 

 

 

6/16/2008

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary and Factors

 

 

 

 

Amount

Factor

Per/$1001

 

 

Total Principal Balance of Notes (Beginning of Period)

 

 

 

$488,337,167.95

0.9806814

$980.68

 

 

A-1 notes Beginning Principal balance

 

 

 

 

$123,380,167.95

0.9276704

$927.67

 

 

A-2 notes Beginning Principal balance

 

 

 

 

$133,000,000.00

1.0000000

$1,000.00

 

 

A-3a notes Beginning Principal balance

 

 

 

 

$125,000,000.00

1.0000000

$1,000.00

 

 

A-4a notes Beginning Principal balance

 

 

 

 

$69,000,000.00

1.0000000

$1,000.00

 

 

A-4b notes Beginning Principal balance

 

 

 

 

$25,508,000.00

1.0000000

$1,000.00

 

 

B notes Beginning Principal balance

 

 

 

 

$12,449,000.00

1.0000000

$1,000.00

 

 

 

 

 

 

 

 

 

 

 

 

Total Principal Balance of Notes (End of Period)

WAL

 

 

$479,250,446.66

0.9624334

$962.43

 

 

A-1 notes Ending Principal balance

 

0.42

$133,000,000.00

Pro Rata %

$114,293,446.66

0.8593492

$859.35

 

 

A-2 notes Ending Principal balance

 

1.15

$133,000,000.00

 

$133,000,000.00

1.0000000

$1,000.00

 

 

A-3a notes Ending Principal balance

 

2.20

$125,000,000.00

100.00%

$125,000,000.00

1.0000000

$1,000.00

 

 

A-4a notes Ending Principal balance

 

3.46

$69,000,000.00

73.00%

$69,000,000.00

1.0000000

$1,000.00

 

 

A-4b notes Ending Principal balance

 

3.46

$25,508,000.00

27.00%

$25,508,000.00

1.0000000

$1,000.00

 

 

B notes Ending Principal balance

 

3.76

$12,449,000.00

 

$12,449,000.00

1.0000000

$1,000.00

 

 

 

 

 

 

 

 

 

 

 

 

Class A-1 notes Interest Paid

 

 

 

 

$301,897.56

0.0022699

$2.27

 

 

Class A-2 notes Interest Paid

 

 

 

 

$439,122.26

0.0033017

$3.30

 

 

Class A-3a notes Interest Paid

 

 

 

 

$429,166.67

0.0034333

$3.43

 

 

Class A-4a notes Interest Paid

 

 

 

 

$283,475.00

0.0041083

$4.11

 

 

Class A-4b notes Interest Paid

 

 

 

 

$101,224.36

0.0039683

$3.97

 

 

Class B notes Interest Paid

 

 

 

 

$0.00

0.0000000

$0.00

 

 

 

 

 

 

 

 

 

 

 

 

Class A-1 notes Interest Shortfall

 

 

 

 

$0.00

0.0000000

$0.00

 

 

Class A-2 notes Interest Shortfall

 

 

 

 

$0.00

0.0000000

$0.00

 

 

Class A-3a notes Interest Shortfall

 

 

 

 

$0.00

0.0000000

$0.00

 

 

Class A-4a notes Interest Shortfall

 

 

 

 

$0.00

0.0000000

$0.00

 

 

Class A-4b notes Interest Shortfall

 

 

 

 

$0.00

0.0000000

$0.00

 

 

Class B notes Interest Shortfall

 

 

 

 

$0.00

0.0000000

$0.00

 

 

 

 

 

 

 

 

 

 

 

 

Class A-1 notes Principal Paid

 

 

 

 

$9,086,721.29

0.0683212

$68.32

 

 

Class A-2 notes Principal Paid

 

 

 

 

$0.00

0.0000000

$0.00

 

 

Class A-3a notes Principal Paid

 

 

 

 

$0.00

0.0000000

$0.00

 

 

Class A-4a notes Principal Paid

 

 

 

 

$0.00

0.0000000

$0.00

 

 

Class A-4b notes Principal Paid

 

 

 

 

$0.00

0.0000000

$0.00

 

 

Class B notes Principal Paid

 

 

 

 

$0.00

0.0000000

$0.00

 

 

 

 

 

 

 

 

 

 

 

Negative Carry Account

 

 

 

 

 

 

 

 

 

Negative Carry

 

1.75000%

12/13/2007

 

1.96731%

 

 

 

 

Negative Carry Days Remaining

 

 

1/15/2008

 

 

 

 

 

Required Negative Carry Account

 

 

 

 

$0.00

 

 

 

 

Beginning Negative Carry Account

 

 

 

 

$0.00

 

 

 

 

Negative Carry Account Withdrawals to Distribution Account

 

 

$0.00

 

 

 

 

Negative Carry Released to Seller

 

 

 

 

$0.00

 

 

 

 

Ending Negative Carry Account Balance

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

 

 

 

 

Spread Account

 

 

 

 

 

 

 

 

 

Required Spread Account Deposit (Add Loans)

 

 

2.35%

 

$0.00

 

 

 

 

Spread Account Test - 3 Month Average Delinquency Ratio

 

 

0.0097%

 

 

 

 

Spread Account Test - Cumulative Net Loss Ratio

 

 

 

0.0134%

 

 

 

 

Spread Account Test Met

Original

October 15, 2009

April 15, 2010

October 15, 2010

NO

 

 

 

 

Required Spread Account Target

2.35%

2.00%

1.75%

1.50%

$11,702,002.07

 

 

 

 

Required Spread Account

 

 

 

April 15, 2011

$11,702,002.07

 

 

 

 

Beginning Spread Account Balance

 

 

 

1.15%

$11,702,002.07

 

 

 

 

Additional Deposit to Spread Account from Pre-funding

 

 

 

$0.00

 

 

 

 

Spread Account Withdrawals to Distribution Account

 

 

 

$0.00

 

 

 

 

Spread Account Deposits from Excess Cash

 

 

 

 

$0.00

 

 

 

 

Spread Account Released to Seller

 

 

 

 

$0.00

 

 

 

 

Ending Spread Account Balance

 

 

 

 

$11,702,002.07

 

 

 

 

 

 

 

 

 

 

 

 

 

Principal Supplement Account

 

 

 

 

 

 

 

 

 

Required Principal Supplement Account Balance

 

 

 

 

$0.00

 

 

 

 

Beginning Principal Supplement Account  Balance

 

 

 

$0.00

 

 

 

 

Additional Deposit to Principal Supplement Account from Pre-funding

 

 

 

$0.00

 

 

 

 

Principal Supplement Account Withdrawals to Distribution Account

 

 

 

$0.00

 

 

 

 

Principal Supplement Account Released to Seller

 

 

 

$0.00

 

 

 

 

Ending Principal Supplement Account

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-funding Account

 

 

 

 

 

 

 

 

 

Beginning Pre-funding Account Balance

 

 

 

 

$0.00

 

 

 

 

New Contract Value Purchased

 

 

 

 

$0.00

 

 

 

 

Deposits to Spread Account

 

 

 

 

$0.00

 

 

 

 

Deposits to Principal Supplement Account

 

 

 

 

$0.00

 

 

 

 

Release to Seller for Purchased Amount

 

 

 

 

$0.00

 

 

 

 

Excess Release to Noteholders for Unpurchased Amount

 

 

 

 

 

 

 

 

Ending Pre-funding Account Balance

 

 

 

 

$0.00

 

 

 

 

 

 

 

 

Original  

 

 

 

 

Purchases

Units

Cut-Off Date