Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of November, 1997
Principal and Interest Collections
Beginning Pool Balance (1) $ 150,742,753.48
Beginning Pool Factor [(1)/$ 183,011,151.56] (2) 0.8236807
Principal Collected (3) $ 2,975,639.10
Interest Collected (4) $ 1,146,797.50
Less: Accrued Interest Prior to Cut Off Date (5) 774,019.55
Less: Additional Purchased Accrued Interest (5a) 0.00
Plus: Purchased Accrued Interest -
End of Collection Period (6) 787,673.01
Net decrease/(increase) in Purchased
Accrued Interest [(5)+(5a)-(6)] (7) $ (13,653.46)
Plus: "Non-Reimbursable Interest Payment" (8) 9,727.01
Total Interest Received
[(4)-(5)-(5a)+(6)+(8)] (9) $ 1,170,177.97
Additional Deposits
(i) Repurchase Amounts (10) 0.00
(ii) Liquidation Proceeds (11) 64,980.34
(iii) Yield Supplement Deposit Amount (12) 0.00
Total Additional Deposits [(10)+(11)+(12)] (13) $ 64,980.34
Total Available Funds [(3)+(9)+(13)] (14) $ 4,210,797.41
Defaulted Receivable Principal Balance [(A1)] (15) $ 87,983.00
Ending Pool Balance [(1)-(3)-(15)] (16) $ 147,679,131.38
Ending Pool Factor [(16)/$ 183,011,151.56] (17) 0.8069406
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of November, 1997
Distributions:
Class A Class B Total
Class Percentage 96.5% 3.5% 100%
Pool Factor (Ending Pool Balance) 0.8069406 0.8069406 0.8069406
Class Coupon 6.64% 6.83%
November Beginning Pool Balance [(1)] $145,466,757.11 $5,275,996.37 $150,742,753.48
November Ending Pool Balance [(16)] $142,510,361.78 $5,168,769.60 $147,679,131.38
Collected Principal [(3)] $2,871,491.73 $104,147.37 $2,975,639.10
Collected Interest [(9)] $1,129,221.74 $40,956.23 $1,170,177.97
Other Collected Interest [(9a)] $0.00 $0.00 $0.00
Additional Deposits [(10)+(11)] $62,706.03 $2,274.31 $64,980.34
Servicing Fee [(1.0%/12)x(1)] ($121,222.30) ($4,396.66) ($125,618.96)
Total Available Funds $3,942,197.20 $142,981.25 $4,085,178.45
Payments to Certficateholders:
Principal Distributable Amount [(1)-(16)] $2,956,395.33 $107,226.77 $3,063,622.10
Interest Distributable Amount [(1)x(coupon/12)] $804,916.06 $30,029.21 $834,945.27
Total Payments to Certificateholders 3,761,311.39 $137,255.98 $3,898,567.37
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 $180,885.81 $5,725.27 $186,611.08
Memo:
Principal Difference ($22,197.57) ($805.09) ($23,002.66)
Interest Difference $203,083.38 $6,530.36 $209,613.74
Total $180,885.81 $5,725.27 $186,611.08
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of November, 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) $ 87,983.00
Interest (A2) 1,099.55
Expense (A3) 150.00
Total (A) $ 89,232.55
Less: Liquidation Proceeds (B) $ 64,980.34
Realized Loss [(A1)+(A2)-(B)] (C) $ 24,102.21
Cumulative Losses (Including Expenses) (D) $ 201,492.42
Cumulative Loss Percentage [(D)/$183,011,151.56] 0.11%
(Less than 1.5% ?)
/TABLE
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of November, 1997
Reconciliation of Reserve Fund
Beginning Reserve Fund Balance (57) $ 3,768,568.84
Plus: Excess Amounts from Seller (57a) 186,611.08
Plus: Investment Earnings (57b) 16,212.70
Less: Reserve Fund Payments (58) 0.00
Subtotal Reserve Fund $ 3,971,392.62
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) $ 3,971,392.62
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) $ 3,691,978.28
Amount of Excess Reserve released [(59)-(60)] (61) $ 279,414.34
(No Release to be made during Pre-funding period)
Ending Reserve Fund Balance to be invested(including (62) $ 3,691,978.28
Negative Carry Balance)
Reserve Fund Balance as a Percent
of the Ending Pool Balance (63) 2.50%
Interest Income on Reserve Fund for September, 1997
from First Chicago (64) $ 16,212.70
Interest Income on Negative Carry Balance for September, 1997
from First Chicago (65) $ 0.00
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of November, 1997
Reconciliation of Net Payment to the Trustee
Available Funds $4,210,797.41
Servicing Fees ($125,618.96)
Total Available Funds $4,085,178.45
Total payments to Class A $3,761,311.39
Total payments to Class B $137,255.98
Reserve Fund:
Excess from Seller [(57a)] $186,611.08
Reserve Fund Payments [(58)] $0.00
Gross payment to the Trustee $4,085,178.45
Amounts Held by Trustee:
Less: Amount released from Reserve Fund
in excess of $3,660,223 (Net of Reserve Fund payment) $279,414.34
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 $279,414.34
Net payment to the Trustee $3,805,764.11
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 4,948
Less: Account Paid Off / Repurchased 79
Plus: Accounts in Collateral Addition 0
Number of Accounts - End of Month 4,869
Non-Accrual Accounts - End of Month
Number of Non-Accrual Accounts 7
Aggregate Principal Balance Outstanding 224,740.57
/TABLE
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of November, 1997
Delinquent Accounts
Period of Delinquency Units Amount Percent of Pool
30 - 59 days 5 $109,588.47 0.07%
60 - 89 days 0 0.00 0.00%
90 days or more 0 0.00 0.00%
Total 5 $109,588.47 0.07% (A)
Repossession Inventory 7 $224,740.57 0.152%(B)
Delinquency Percentage
Quarter
OCT NOV DEC Total (Avg)
90 days or more (000) $ 92.9 $ 0.0 $ N/A $ N/A
Repossession Inventory (000) $200.1 $224.7 $ N/A $ N/A
Total $293.0 $224.7 $ N/A $ N/A (A)
Ending Pool Balance (mils) $150.7 $147.7 $ N/A $ N/A (B)
Delinquency Percentage (A)/(B) N/A
Realized Loss Analysis
Quarter
OCT NOV DEC Total
Realized Losses/(Recoveries) (X)
[(A1+(A2)-(B)] (000) $ 50.4 $ 24.1 $ N/A $ N/A (Sum)
Beginning Pool Balance (mils) (Y) $156.0 $150.7 $ 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 ?) $197,407.12
Change in Realized Losses $ 24,102.21
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