GE Dealer Floorplan Master Note Trust, Series 2007-2 (PDF, 52.0 KB)

GE Dealer Floorplan Master Note Trust
2007-2
2/22/2010
1/31/2010
8/02/2007
3/22/2010
7/20/2010
7/20/2012
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
Note Payment Detail
Class
CUSIP
A
36159LBD7
Interest Rate
Original Face
Value
Beginning
Class Balance
0.24063%
970,000,000.00
970,000,000.00
Principal
Payment
Amount
Interest
Payment
Amount
Ending
Class Balance
Total
0.00
213,960.18
213,960.18
970,000,000.00
B
36159LBE5
0.63063%
20,000,000.00
20,000,000.00
0.00
11,561.55
11,561.55
20,000,000.00
C
36159LBF2
1.03063%
10,000,000.00
10,000,000.00
0.00
9,447.44
9,447.44
10,000,000.00
1,000,000,000.00
1,000,000,000.00
0.00
234,969.17
234,969.17
1,000,000,000.00
TOTALS
Beginning of Month Balance
New Volume
Principal Collections
Defaulted Amount
5,990,194,334.49
1,475,842,225.14
1,632,607,664.78
8,518,021.98
End of Month Balance
5,824,910,872.87
8.70%
Annualized Yield
Overconcentrations
Are there any Product Line Overconcentrations?
0.00
Are there any Dealer Overconcentrations?
0.00
Are there any Manufacturer Overconcentrations?
190,467,634.22
Discount Factor
Collections
Principal Collections
Non Principal Collections
Total Collections
No
No
Yes
0.0%
Total
1,632,607,664.78
44,198,736.60
1,676,806,401.38
Overconcentration
39,386,526.30
1,164,426.91
40,550,953.21
1,593,221,138.48
43,034,309.69
1,636,255,448.17
Defaults
Default Amount
Series Allocation Percentage
Investor Default Amount
8,518,021.98
31,824.08
8,486,197.90
18.45%
1,565,630.97
Charge-offs
Investor Charge-offs
0.00
Page 1 of 8
GE Dealer Floorplan Master Note Trust
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
2/22/2010
1/31/2010
8/02/2007
3/22/2010
7/20/2010
7/20/2012
2007-2
Allocation of Available Non Principal Collections
Series Allocation Percentage
Available Non Principal Collections Allocated to Series
18.45%
7,939,462.28
Application of Available Non Principal Collections and Available Principal Collections
7,939,462.28
(a) Available Non Principal Collections Allocated to Series
(i)
0.00
0.00
55.56
(A) Amount to Indenture Trustee
(B) Amount to Trustee
(C) Amount to Administrator
0.00
(D) Amount to Custodian
1,783,333.33
(ii) Noteholder Servicing Fee
Unpaid Servicer Advances and interest thereon
0.00
(iii) Class A Monthly Interest
213,960.18
(iv) Class B Monthly Interest
11,561.55
(v) Class C Monthly Interest
9,447.44
(vi) Investor Default Amount (treated as Available Principal Collections)
(vii) Investor Charge-offs
0.00
Reimbursement of Investor Charge-offs
0.00
Unreimbursed Investor Charge-offs
0.00
Reallocation Principal Collections
0.00
Reimbursement of Reallocated Principal Collections
Unreimbursed Reallocated Principal Collections
Sum of Unreimbursed Investor Charge-offs and Reallocated Principal Collections
0.00
0.00
(viii) Amount Required to be Deposited to the Reserve Account
1,565,630.97
0.00
0.00
(ix) Remaining Amounts due to:
Indenture Trustee
0.00
Trustee
0.00
Administrator
Custodian
0.00
0.00
(x) Amounts otherwise required to be Deposited to Principal Account
(xi) (If Early Amortization Period has not occurred)
Release to Issuer to make required yield payments on the Principal Overcollateralization Amount
0.00
4,355,473.25
Page 2 of 8
GE Dealer Floorplan Master Note Trust
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
2/22/2010
1/31/2010
8/02/2007
3/22/2010
7/20/2010
7/20/2012
Excess Non Principal Collections for Series 2006-2
Excess Non Principal Collections for Series 2007-1
Excess Non Principal Collections for Series 2007-2
Excess Non Principal Collections for Series 2008-A
Excess Non Principal Collections for Series 2009-A
Excess Non Principal Collections for Series 2009-B
Excess Non Principal Collections for Series 2009-C
Excess Non Principal Collections for Series 2009-1
Excess Non Principal Collections for Series 2009-2
Total Excess Non Principal Collections
2007-2
1,888,162.39
3,785,475.36
3,788,841.16
1,668,760.00
597,485.33
678,430.88
775,409.29
1,139,771.38
1,246,575.11
15,568,910.90
Non Principal Shortfalls for Series 2006-2
Non Principal Shortfalls for Series 2007-1
0.00
0.00
Non Principal Shortfalls for Series 2007-2
Non Principal Shortfalls for Series 2008-A
0.00
Non Principal Shortfalls for Series 2009-A
0.00
Non Principal Shortfalls for Series 2009-B
0.00
Non Principal Shortfalls for Series 2009-1
Non Principal Shortfalls for Series 2009-2
0.00
0.00
Non Principal Shortfalls for Series 2009-C
0.00
Total Non Principal Shortfalls
0.00
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2006-2
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2007-1
0.00
0.00
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2007-2
0.00
0.00
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2008-A
0.00
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2009-A
0.00
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2009-B
0.00
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2009-C
0.00
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2009-1
0.00
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2009-2
0.00
Total Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls
0.00
Released to Transferor
15,568,910.90
Page 3 of 8
GE Dealer Floorplan Master Note Trust
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
(b)
2/22/2010
1/31/2010
8/02/2007
3/22/2010
7/20/2010
7/20/2012
2007-2
Revolving Period
Principal Collections Allocated to Series According to 4.3(b)(ii)(x) of Indenture Supplement
Available Principal Collections Treated as Shared Principal Collections Applied According to Section 8.5 of Indenture
(c)
293,935,681.16
295,501,312.13
Controlled Accumulation Period
Principal Collections Allocated to Series According to 4.3(b)(ii)(y) of Indenture Supplement
Available Principal Collections Treated as Shared Principal Collections
(i) Monthly Principal Deposited into the Principal Account
(ii) Monthly Principal Deposited to Distribution Account and paid to:
Class A
Class B
Class C
(iii) Principal Overcollateralization Amount
(iv) Amounts Remaining as Shared Principal Collections Applied According to Section 8.5 of Indenture
Early Amortization Period
Principal Collections Allocated to Series According to 4.3(b)(ii)(z) of Indenture Supplement
(i) Monthly Principal Deposited into the Principal Account
(ii) Monthly Principal Deposited to Distribution Account and paid to:
Class A
Class B
Class C
(iii) Amount equal to the Principal Overcollateralization release to Issuer (after the Note Principal Balance shall have
been reduced to zero)
(iv) Amounts Remaining as Shared Principal Collections Applied According to Section 8.5 of Indenture
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Shared Principal Collections for Principal Sharing Series
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-2
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2007-1
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2007-2
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2008-A
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2009-A
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2009-B
1,528,252,414.38
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2009-C
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2009-1
0.00
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2009-2
0.00
Amount Deposited into the Excess Funding Account
0.00
Aggregate Shared Principal Collections for Principal Sharing Series
Aggregate Principal Shortfall for Principal Sharing Series
Released to Issuer
1,528,252,414.38
Page 4 of 8
GE Dealer Floorplan Master Note Trust
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
2/22/2010
1/31/2010
8/02/2007
3/22/2010
7/20/2010
7/20/2012
2007-2
Required Reserve Account (Series Level Account)
Required Reserve Account Percentage
Note Principal Balance
Required Reserve Account Amount
2.50%
1,000,000,000.00
25,000,000.00
Reserve Account Interest Earnings withdrawn
Beginning Reserve Account Amount
Reserve Account Deposits
Reserve Account Withdrawals
Ending Reserve Account Amount
2,059.47
25,000,000.00
0.00
0.00
Total Enhancement Amount
25,000,000.00
Reserve Account Deficiency
0.00
25,000,000.00
Non Principal Account (Series Level Account)
Beginning Balance
Deposits
Disbursements
Ending Balance
0.00
801,601.26
801,601.26
0.00
Principal Account (Series Level Account)
Beginning Balance
Deposits
Disbursements
0.00
0.00
0.00
Ending Balance
0.00
Free Equity Amount
Note Trust Principal Balance
Aggregate Collateral Amount for all Series of Notes and Initial Subordinated Amount
Free Equity Amount
5,824,910,872.87
5,533,748,976.00
291,161,896.87
Minimum Free Equity Percentage
Beginning Outstanding Principal Balance
Total Overconcentration
Minimum Free Equity Amount
0.00%
5,236,859,488.00
190,467,634.22
190,467,634.22
Page 5 of 8
GE Dealer Floorplan Master Note Trust
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
2/22/2010
1/31/2010
8/02/2007
3/22/2010
7/20/2010
7/20/2012
2007-2
Excess Funding Account (Trust Level Account)
Beginning Balance
Deposits
Disbursements
Ending Balance
0.00
0.00
0.00
0.00
Summary of Allocation of Collections
Total Principal Collections
Principal Collections Allocated to Series 2006-2
Principal Collections Allocated to Series 2007-1
Principal Collections Allocated to Series 2007-2
Principal Collections Allocated to Series 2008-A
Principal Collections Allocated to Series 2009-A
Principal Collections Allocated to Series 2009-B
1,593,221,138.48
144,907,543.75
291,875,384.33
293,935,681.16
227,723,235.16
91,092,590.53
91,092,590.53
Principal Collections Allocated to Series 2009-C
Principal Collections Allocated to Series 2009-1
75,905,674.50
151,811,348.44
Principal Collections Allocated to Series 2009-2
151,811,348.44
Principal Collections Not Allocated to Any Series and Released to Issuer
73,065,741.64
Total Non Principal Collections
43,034,309.69
3,914,080.70
7,883,811.84
Non Principal Collections Allocated to Series 2006-2
Non Principal Collections Allocated to Series 2007-1
Non Principal Collections Allocated to Series 2007-2
7,939,462.28
Non Principal Collections Allocated to Series 2008-A
6,151,005.65
Non Principal Collections Allocated to Series 2009-A
2,460,491.30
Non Principal Collections Allocated to Series 2009-B
2,460,491.30
Non Principal Collections Allocated to Series 2009-C
2,050,279.29
Non Principal Collections Allocated to Series 2009-1
4,100,558.56
Non Principal Collections Allocated to Series 2009-2
4,100,558.56
Non Principal Collections Not Allocated to Any Series and Released to Issuer
1,973,570.21
Page 6 of 8
GE Dealer Floorplan Master Note Trust
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
2007-2
2/22/2010
1/31/2010
8/02/2007
3/22/2010
7/20/2010
7/20/2012
Performance
(1) Are there any material modifications, extensions, or waivers to pool assets?
No
(2) Are there any material breaches of pool of assets representations and warranties or covenants?
No
(3) Are there any changes in criteria used to originate, acquire, or select new pool assets?
No
(4) Has the master servicer made any Servicer Advances during the previous collection period?
No
(5) Has an early amortization event occurred?
No
(6) Have any Payment Rate Triggers been met?
No
Current Monthly Payment Rate
27.25%
Prior Monthly Payment Rate
33.09%
Second Prior Monthly Payment Rate
29.27%
3 Month Average Monthly Payment Rate
29.87%
(7) Has the Default Rate Trigger been met?
No
Current Monthly Default Rate
1.71%
Prior Monthly Default Rate
3.14%
Second Prior Monthly Default Rate
2.05%
3 Month Average Monthly Default Rate
2.30%
(8) Reserve Account balance < Reserve Account trigger
No
25,000,000.00
Reserve Account balance
2.25
(A) Required Reserve Account Percentage minus 0.25%
1,000,000,000.00
times (B) Note Principal Balance
22,500,000.00
Reserve Account trigger
(9) The sum of all investments held in trust accounts of the Issuer > 50% of the assets of the Issuer
Current Month
Prior Month
Second Prior Month
Third Prior Month
Fourth Prior Month
Fifth Prior Month
No
2.25%
2.19%
2.02%
1.75%
2.30%
2.26%
(10) Have any new series been issued during the related monthly collection period?
No
(11) Have any account additions or account removals occurred during the related monthly collection period?
No
Number of accounts added / (removed) : 0
Page 7 of 8
GE Dealer Floorplan Master Note Trust
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
2007-2
2/22/2010
1/31/2010
8/02/2007
3/22/2010
7/20/2010
7/20/2012
Delinquency
Days Outstanding
31 - 60
61 - 90
91 - 120
121 - 150
151 - 180
*Total
Amount
(Dollars in Millions)
Percentage of Total
Receivables Outstanding
7.0
0.12%
4.4
0.08%
3.2
0.06%
2.9
0.05%
2.5
0.04%
20.0
0.34%
*Figures may not foot due to rounding
Page 8 of 8