Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of August, 1997
Principal and Interest Collections
Beginning Pool Balance (1) $ 163,019,576.78
Beginning Pool Factor [(1)/$ 183,011,151.56] (2) 0.8907631
Principal Collected (3) $ 3,099,512.75
Interest Collected (4) $ 1,275,205.35
Less: Accrued Interest Prior to Cut Off Date (5) 819,427.25
Less: Additional Purchased Accrued Interest (5a) 0.00
Plus: Purchased Accrued Interest -
End of Collection Period (6) 842,499.56
Net decrease/(increase) in Purchased
Accrued Interest [(5)+(5a)-(6)] (7) $ (23,072.31)
Plus: "Non-Reimbursable Interest Payment" (8) 10,113.24
Total Interest Received
[(4)-(5)-(5a)+(6)+(8)] (9) $ 1,308,390.90
Additional Deposits
(i) Repurchase Amounts (10) 0.00
(ii) Liquidation Proceeds (11) 39,500.00
(iii) Yield Supplement Deposit Amount (12) 0.00
Total Additional Deposits [(10)+(11)+(12)] (13) $ 39,500.00
Total Available Funds [(3)+(9)+(13)] (14) $ 4,447,403.65
Defaulted Receivable Principal Balance [(A1)] (15) $ 68,109.19
Ending Pool Balance [(1)-(3)-(15)] (16) $ 159,851,954.84
Ending Pool Factor [(16)/$ 183,011,151.56] (17) 0.8734547
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of August, 1997
Distributions:
Class A Class B Total
Class Percentage 96.5% 3.5% 100%
Pool Factor (Ending Pool Balance) 0.8734547 0.8734547 0.8734547
Class Coupon 6.64% 6.83%
July Beginning Pool Balance [(1)] $157,313,891.59 $5,705,685.19 $163,019,576.78
July Ending Pool Balance [(16)] $154,257,136.42 $5,594,818.42 $159,851,954.84
Collected Principal [(3)] $2,991,029.80 $108,482.95 $3,099,512.75
Collected Interest [(9)] $1,262,597.22 $45,793.68 $1,308,390.90
Other Collected Interest [(9a)] $0.00 $0.00 $0.00
Additional Deposits [(10)+(11)] $38,117.50 $1,382.50 $39,500.00
Servicing Fee [(1.0%/12)x(1)] ($131,094.91) ($4,754.74) ($135,849.65)
Total Available Funds $4,160,649.61 $150,904.39 $4,311,554.00
Payments to Certficateholders:
Principal Distributable Amount [(1)-(16)] $3,056,755.17 $110,866.77 $3,167,621.94
Interest Distributable Amount [(1)x(coupon/12 $870,470.20 $32,474.86 $902,945.06
Total Payments to Certificateholders $3,927,225.37 $143,341.63 $4,070,567.00
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 $233,424.24 $7,562.76 $240,987.00
Memo:
Principal Difference ($27,607.87) ($1,001.32) ($28,609.19)
Interest Difference $261,032.11 $8,564.08 $269,596.19
Total $233,424.24 $7,562.76 $240,987.00
/TABLE
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of August, 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) $ 68,109.19
Interest (A2) 1,149.51
Expense (A3) 1,006.00
Total (A) $ 70,264.70
Less: Liquidation Proceeds (B) $ 39,500.00
Realized Loss [(A1)+(A2)-(B)] (C) $ 29,758.70
Cumulative Losses (Including Expenses) (D) $ 79,260.55
Cumulative Loss Percentage [(D)/$183,011,151.56] 0.04%
(Less than 1.5% ?)
/TABLE
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of August, 1997
Reconciliation of Reserve Fund
Beginning Reserve Fund Balance (57) $ 4,075,489.42
Plus: Excess Amounts from Seller (57a) 240,987.00
Plus: Investment Earnings (57b) 17,954.09
Less: Reserve Fund Payments (58) 0.00
Subtotal Reserve Fund $ 4,334,430.51
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) $ 4,334,430.51
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) $ 3,996,298.87
Amount of Excess Reserve released [(59)-(60)] (61) $ 338,131.64
(No Release to be made during Pre-funding period)
Ending Reserve Fund Balance to be invested(including (62) $ 3,996,298.87
Negative Carry Balance)
Reserve Fund Balance as a Percent
of the Ending Pool Balance (63) 2.50%
Interest Income on Reserve Fund for August, 1997
from First Chicago (64) $ 17,954.09
Interest Income on Negative Carry Balance for August, 1997 (65) $ 0.00
from First Chicago
<?TABLE>
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of August, 1997
Reconciliation of Net Payment to the Trustee
Available Funds $4,447,403.65
Servicing Fees ($135,849.65)
Total Available Funds $4,311,554.00
Total payments to Class A $3,927,225.37
Total payments to Class B $143,341.63
Reserve Fund:
Excess from Seller [(57a)] $240,987.00
Reserve Fund Payments [(58)] $0.00
Gross payment to the Trustee $4,311,554.00
Amounts Held by Trustee:
Less: Amount released from Reserve Fund
in excess of $3,660,223 (Net of Reserve Fund payment) [(61)] $338,131.64
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 $338,131.64
Net payment to the Trustee $3,973,422.36
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 5,235
Less: Account Paid Off / Repurchased 82
Plus: Accounts in Collateral Addition 0
Number of Accounts - End of Month 5,153
Non-Accrual Accounts - End of Month
Number of Non-Accrual Accounts 7
Aggregate Principal Balance Outstanding $315,885.79
/TABLE
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of August, 1997
Delinquent Accounts
Period of Delinquency Units Amount Percent of Pool
30 - 59 days 8 $ 375,909.89 0.24%
60 - 89 days 1 41,592.52 0.03%
90 days or more 0 0.00 0.00%
Total 9 $ 417,502.41 0.26%(A)
Repossession Inventory 7 $ 315,885.79 0.198%(B)
Delinquency Percentage
Quarter
JUL AUG SEPT Total(Avg)
90 days or more (000) $ 0.0 $ 0.0 $ N/A $ N/A
Repossession Inventory (000) $ 304.0 $ 315.9 $ N/A $ N/A
Total $ 304.0 $ 315.9 $ N/A $ N/A(A)
Ending Pool Balance (mils) $ 163.0 $ 159.9 $ N/A $ N/A(B)
Delinquency Percentage (A)/(B) N/A
Realized Loss Analysis
Quarter
JUL AUG SEPT Total
Realized Losses/(Recoveries) (X)
[(A1+(A2)-(B)] (000) $ 25.1 $ 29.8 $ N/A $ N/A(Sum)
Beginning Pool Balance (mils) (Y) $ 166.7 $ 163.0 $ 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 ?) $77,773.12
Change in Realized Losses $29,758.70
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