Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of April, 1997
Principal and Interest Collections
Beginning Pool Balance (1) $ 179,721,280.47
Beginning Pool Factor [(1)/$ 183,011,151.56] (2) 0.9820237
Principal Collected (3) $ 5,037,765.19
Interest Collected (4) $ 1,415,669.92
Less: Accrued Interest Prior to Cut Off Date (5) 883,098.49
Less: Additional Purchased Accrued Interest (5a) 0.00
Plus: Purchased Accrued Interest -
End of Collection Period (6) 848,906.38
Net decrease/(increase) in Purchased
Accrued Interest [(5)+(5a)-(6)] (7) $ 34,192.11
Plus: "Non-Reimbursable Interest Payment" (8) 14,868.23
Total Interest Received
[(4)-(5)-(5a)+(6)+(8)] (9) $ 1,396,346.04
Additional Deposits
(i) Repurchase Amounts (10) 0.00
(ii) Liquidation Proceeds (11) 14,700.00
(iii) Yield Supplement Deposit Amount (12) 0.00
Total Additional Deposits [(10)+(11)+(12)] (13) $ 14,700.00
Total Available Funds [(3)+(9)+(13)] (14) $ 6,448,811.23
Defaulted Receivable Principal Balance [(A1)] (15) $ 21,131.57
Ending Pool Balance [(1)-(3)-(15)] (16) $ 174,662,383.71
Ending Pool Factor [(16)/$ 183,011,151.56] (17) 0.9543811
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of April, 1997
Distributions:
Class A Class B Total
Class Percentage 96.5% 3.5% 100%
Pool Factor (Ending Pool Balance) 0.9820237 0.9820237 0.9820237
Class Coupon 6.64% 6.83%
April Beginning Pool Balance [(1)] $173,431,035.65 $6,290,244.82 $179,721,280.47
April Ending Pool Balance [(16)] $168,549,200.28 $6,113,183.43 $174,662,383.71
Collected Principal [(3)] $4,861,443.41 $176,321.78 $5,037,765.19
Collected Interest [(9)] $1,347,473.93 $48,872.11 $1,396,346.04
Other Collected Interest [(9a)] $0.00 $0.00 $0.00
Additional Deposits [(10)+(11)] $14,185.50 $514.50 $14,700.00
Servicing Fee [(1.0%/12)x(1)] ($144,525.86) ($5,241.87) ($149,767.73)
Total Available Funds $6,078,576.98 $220,466.52 $6,299,043.50
Payments to Certficateholders:
Principal Distributable Amount [(1)-(16)] $4,881,835.37 $177,061.39 $5,058,896.76
Interest Distributable Amount [(1)x(coupon/12 $959,651.73 $35,801.98 $995,453.71
Total Payments to Certificateholders $5,841,487.10 $212,863.37 $6,054,350.47
Reserve Fund payment $0.00 $0.00 $0.00
Amount due Class B but paid to
Class A (subordination) $0.00
Class A Interest Carryover Shortfall $0.00
Class A Principal Carryover Shortfall $0.00
Class B Interest Carryover Shortfall $0.00
Class B Principal Carryover Shortfall $0.00
Amounts Remaining in the Certificate
Account to be paid to the Seller $237,089.88 $7,603.15 $244,693.03
Memo:
Principal Difference ($6,206.46) ($225.11) ($6,431.57)
Interest Difference $243,296.34 $7,828.26 $251,124.60
Total $237,089.88 $7,603.15 $244,693.03
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of April, 1997
Determination of the Servicer Letter of Credit Amount
Number of Contracts - End of Month (45) N/A
Original number of contracts (46) N/A
Percent of Original Contracts remaining
[((45)/(46))x100] (47) N/A
Original Servicer Letter of Credit Amount (48) $ N/A
Revised Servicer Letter of Credit Amount
[Lessor of [(48)x(47) or the Beginning
Pool Balance (1)] (49) $ N/A
Prior Month Servicer Letter of Credit Amount
[Previous Month (49)] (50) $ N/A
Servicer Letter of Credit Fee (51) $ N/A
Yield Supplement Amount
Receivables with coupon rates below 7.65%
Principal Outstanding (52) $ N/A
Number of receivables (53) N/A
Interest on the Receivables at their APR (54) $ N/A
Interest due on the Receivables at the
Pass-Through Rate (55) $ N/A
Yield Supplement Amount [(54)-(55)] (56) $ N/A
Defaulted Receivables
Amount of principal and accrued interest due from
Obligors on Defaulted Receivables
Principal (A1) $ 21,131.57
Interest (A2) 251.96
Expense (A3) 7.50
Total (A) $ 21,391.03
Less: Liquidation Proceeds (B) $ 14,700.00
Realized Loss [(A1)+(A2)-(B)] (C) $ 6,683.53
Cumulative Losses (Including Expenses) (D) $ 6,691.03
Cumulative Loss Percentage [(D)/$183,011,151.56] 0.004%
(Less than 1.5% ?)
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of April, 1997
Reconciliation of Reserve Fund
Beginning Reserve Fund Balance (57) $ 3,072,503.43
Plus: Excess Amounts from Seller (57a) 244,693.03
Plus: Investment Earnings (57b) 14,082.31
Less: Reserve Fund Payments (58) 0.00
Subtotal Reserve Fund $ 3,331,278.77
Plus: Beginning Negative Carry Balance (58a) 0.00
Plus: Negative Carry Investment Earnings (58b) 0.00
Less: Payment from Negative Carry (58c) 0.00
Ending Negative Carry Balance (58d) 0.00
Reserve Fund Prior to Payments to Seller (59) $ 3,331,278.77
Required Reserve Fund Balance:
(Lesser of 1 or 2)
(1) Greater of: $3,660,223 or 2.50% of the Ending Pool Balance
(Class A and Class B Certificate Balances), but not greater
than the Ending Pool Balance (unless the Cumulative Loss
Percentage exceeds 1.5%), or (2);
(2) (18% - Subordination Fraction) x the Ending Pool Balance NA
Required Amount (60) $ 4,366,559.59
Amount of Excess Reserve released [(59)-(60)] (61) $ 0.00
(No Release to be made during Pre-funding period)
Ending Reserve Fund Balance to be invested(including (62) $ 3,331,278.77
Negative Carry Balance)
Reserve Fund Balance as a Percent
of the Ending Pool Balance (63) 1.91%
Interest Income on Reserve Fund for April, 1997
from First Chicago (64) $ 14,082.31
Interest Income on Negative Carry Balance for April, 1997 (65) $ 0.00
from First Chicago
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of April, 1997
Reconciliation of Net Payment to the Trustee
Available Funds $6,448,811.23
Servicing Fees ($149,767.73)
Total Available Funds $6,299,043.50
Total payments to Class A $5,841,487.10
Total payments to Class B $212,863.37
Reserve Fund:
Excess from Seller [(57a)] $244,693.03
Reserve Fund Payments [(58)] $0.00
Gross payment to the Trustee $6,299,043.50
Amounts Held by Trustee:
Less: Amount released from Reserve Fund
in excess of $3,660,223 (Net of Reserve Fund payment) [(61)] $0.00
Less: Balance of Prefunded Account payable
to Certificateholders N/A
Less: Amount paid from Negative Carry
Balance [(58c)] N/A
Less: Amount paid from Pre-Funded
Amount Earnings [(72)] N/A
Total Other Collected Interest (9a) N/A
Total Amount Held by Trustee $0.00
Net payment to the Trustee $6,299,043.50
Reconciliation of Pre-Funding Account
Beginning Pre-Funded Amount (70) N/A
[Prior Month (74)]
Less: Amount applied to the purchase of
Subsequent Receivables (71) N/A
Plus: Earnings on Pre-Funded Amount (72) N/A
Less: Payment of Earnings (73) N/A
Ending Pre-Funding Amount (74) N/A
Account Activity
Number of Accounts - Beginning of Month 5,617
Less: Account Paid Off / Repurchased 95
Plus: Accounts in Collateral Addition 0
Number of Accounts - End of Month 5,522
Non-Accrual Accounts - End of Month
Number of Non-Accrual Accounts 7
Aggregate Principal Balance Outstanding $172,361.19
/TABLE
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of April, 1997
Delinquent Accounts
30 - 59 days 5 $ 202,827.31 0.12%
60 - 89 days 1 26,431.81 0.02%
90 days or more 0 0.00 0.00%
Total 6 $ 229,259.12 0.14%(A)
Repossession Inventory 7 $ 172,361.19 0.099%(B)
Delinquency Percentage
Quarter
APR MAY JUN Total(Avg)
90 days or more (000) $ 0.0 $ N/A $ N/A $ N/A
Repossession Inventory (000) $ 172.4 $ N/A $ N/A $ N/A
Total $ 172.4 $ N/A $ N/A $ N/A (A)
Ending Pool Balance (mils) $ 174.7 $ N/A $ N/A $ N/A (B)
Delinquency Percentage (A)/(B) N/A
Realized Loss Analysis
Quarter
APR MAY JUN Total
Realized Losses/(Recoveries) (X)
[(A1+(A2)-(B)] (000) $ 6.7 $ N/A $ N/A $ N/A(Sum)
Beginning Pool Balance (mils) (Y) $ 179.7 $ N/A $ N/A $ N/A(Avg)
Realized Loss Percentage
(Less than 1.5%?) [((X)/(Y))*4] N/A
Realized Losses Since Inception (less than $2,745,168 ?) $6,683.53
Change in Realized Losses $6,683.53
Proceeds from Insurance and Dealer Repurchases
Proceeds received during the month from
physical damage insurance $ 0.00
Proceeds received during the month from Dealer
repurchase obligations relating to Defaulted Receivables $ 0.00