CHASE MANHATTAN RV OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 4/30/98
Determination Date 5/12/98
Distribution Date 5/15/98
I. All Payments on the Contracts 31,912,390.30
II. All Liquidation Proceeds on the Contracts with respect to Principal 221,344.70
III. Repurchased Contracts 577,349.09
IV. Investment Earnings on Collection Account 0.00
V. Servicer Monthly Advances 481,662.89
VI. Distribution from the Reserve Account 0.00
VII. Deposits from the Pay-Ahead Account (including Investment Earnings) 225,670.60
VIII. Transfers to the Pay-Ahead Account (263,532.75)
IX. Less: Investment Earnings distributions 0.00
(a) To Sellers with respect to the Collection Account 0.00
(b) To Sellers with respect to the Pay-Ahead Account
Total available amount in Collection Account $33,154,884.83
===================
DISTRIBUTION AMOUNTS Cost per $1000
- ------------------------------- ----------------
1. (a) Class A-1 Note Interest Distribution 0.00
(b) Class A-1 Note Principal Distribution 0.00
Aggregate Class A-1 Note Distribution 0.00000000 0.00
2. (a) Class A-2 Note Interest Distribution 154,510.58
(b) Class A-2 Note Principal Distribution 27,043,805.72
Aggregate Class A-2 Note Distribution 228.55727980 27,198,316.30
3. (a) Class A-3 Note Interest Distribution 557,372.50
(b) Class A-3 Note Principal Distribution 0.00
Aggregate Class A-3 Note Distribution 4.93250000 557,372.50
4. (a) Class A-4 Note Interest Distribution 366,216.67
(b) Class A-4 Note Principal Distribution 0.00
Aggregate Class A-4 Note Distribution 5.01666667 366,216.67
5. (a) Class A-5 Note Interest Distribution 665,500.00
(b) Class A-5 Note Principal Distribution 0.00
Aggregate Class A-5 Note Distribution 5.04166667 665,500.00
6. (a) Class A-6 Note Interest Distribution 449,533.33
(b) Class A-6 Note Principal Distribution 0.00
Aggregate Class A-6 Note Distribution 5.10833333 449,533.33
7. (a) Class A-7 Note Interest Distribution 291,650.00
(b) Class A-7 Note Principal Distribution 0.00
Aggregate Class A-7 Note Distribution 5.11666667 291,650.00
8. (a) Class A-8 Note Interest Distribution 441,291.67
(b) Class A-8 Note Principal Distribution 0.00
Aggregate Class A-8 Note Distribution 5.19166667 441,291.67
9. (a) Class A-9 Note Interest Distribution 321,266.67
(b) Class A-9 Note Principal Distribution 0.00
Aggregate Class A-9 Note Distribution 5.26666667 321,266.67
10. (a) Class A-10 Note Interest Distribution 345,041.67
(b) Class A-10 Note Principal Distribution 0.00
Aggregate Class A-10 Note Distribution 5.30833333 345,041.67
11. (a) Class B Certificate Interest Distribution 244,679.31
(b) Class B Certificate Principal Distribution 0.00
Aggregate Class B Certificate Distribution 5.45000000 244,679.31
12. Servicer Payment
(a) Servicing Fee 312,741.22
(b) Reimbursement of prior Monthly Advances 456,692.06
Total Servicer Payment 769,433.28
13. Deposits to the Reserve Account 1,504,583.45
Total Distribution Amount $33,154,884.83
===================
Reserve Account distributions:
- -----------------------------------------
(a) Amounts to the Sellers (Chase USA) from Excess Collections 193,038.06
(b) Amounts to the Sellers (Chase Manhattan Bank) from Excess Collections 1,311,545.39
(c) Distribution from the Reserve Account to the Sellers(Chase USA) 78,235.09
(d) Distribution from the Reserve Account to the Sellers(Chase Manhattan Bank) 531,547.40
Total Amounts to Sellers(Chase USA & Chase Manhattan Bank) = $2,114,365.94
===================
INTEREST
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1. Current Interest Requirement
(a) Class A-1 Notes 5.598% 0.00
(b) Class A-2 Notes 5.852% 154,510.58
(c) Class A-3 Notes 5.919% 557,372.50
(d) Class A-4 Notes 6.020% 366,216.67
(e) Class A-5 Notes 6.050% 665,500.00
(f) Class A-6 Notes 6.130% 449,533.33
(g) Class A-7 Notes @6.140% 291,650.00
(h) Class A-8 Notes @6.230% 441,291.67
(i) Class A-9 Notes 6.320% 321,266.67
(j) Class A-10 Notes 6.370% 345,041.67
Aggregate Interest on Notes 3,592,383.08
(k) Class B Certificate6.540% 244,679.31
2. Remaining Interest Shortfall
(a) Class A-1 Notes 0.00
(b) Class A-2 Notes 0.00
(c) Class A-3 Notes 0.00
(d) Class A-4 Notes 0.00
(e) Class A-5 Notes 0.00
(f) Class A-6 Notes 0.00
(g) Class A-7 Notes 0.00
(h) Class A-8 Notes 0.00
(i) Class A-9 Notes 0.00
(j) Class A-10 Notes 0.00
(k) Class B Certificates 0.00
3. Total Distribution of Interest Cost per $1000
----------------
(a) Class A-1 Notes 0.00000000 0.00
(b) Class A-2 Notes 1.29840820 154,510.58
(c) Class A-3 Notes 4.93250000 557,372.50
(d) Class A-4 Notes 5.01666667 366,216.67
(e) Class A-5 Notes 5.04166667 665,500.00
(f) Class A-6 Notes 5.10833333 449,533.33
(g) Class A-7 Notes 5.11666667 291,650.00
(h) Class A-8 Notes 5.19166667 441,291.67
(i) Class A-9 Notes 5.26666667 321,266.67
(j) Class A-10 Notes 5.30833333 345,041.67
Total Aggregate Interest on Notes 3,592,383.08
(k) Class B Certificates 5.45000000 244,679.31
PRINCIPAL
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No. of Contracts
----------------
1. Amount of Stated Principal Collected 6,073,373.22
2. Amount of Principal Prepayment Collected 675 20,057,338.42
3. Amount of Liquidated Contract 11 340,352.84
4. Amount of Repurchased Contract 15 572,741.24
Total Formula Principal Distribution Amount 27,043,805.72
5. Principal Balance before giving effect to Principal Distribution Pool Factor
(a) Class A-1 Notes 0.0000000 0.00
(b) Class A-2 Notes 0.2662491 31,683,645.05
(c) Class A-3 Notes 1.0000000 113,000,000.00
(d) Class A-4 Notes 1.0000000 73,000,000.00
(e) Class A-5 Notes 1.0000000 132,000,000.00
(f) Class A-6 Notes 1.0000000 88,000,000.00
(g) Class A-7 Notes 1.0000000 57,000,000.00
(h) Class A-8 Notes 1.0000000 85,000,000.00
(i) Class A-9 Notes 1.0000000 61,000,000.00
(j) Class A-10 Notes 1.0000000 65,000,000.00
(k) Class B Certificates 1.0000000 44,895,285.54
6. Remaining Principal Shortfall
(a) Class A-1 Notes 0.00
(b) Class A-2 Notes 0.00
(c) Class A-3 Notes 0.00
(d) Class A-4 Notes 0.00
(e) Class A-5 Notes 0.00
(f) Class A-6 Notes 0.00
(g) Class A-7 Notes 0.00
(h) Class A-8 Notes 0.00
(i) Class A-9 Notes 0.00
(j) Class A-10 Notes 0.00
(k) Class B Certificates 0.00
7. Principal Distribution Cost per $1000
----------------
(a) Class A-1 Notes 0.00000000 0.00
(b) Class A-2 Notes 227.25887160 27,043,805.72
(c) Class A-3 Notes 0.00000000 0.00
(d) Class A-4 Notes 0.00000000 0.00
(e) Class A-5 Notes 0.00000000 0.00
(f) Class A-6 Notes 0.00000000 0.00
(g) Class A-7 Notes 0.00000000 0.00
(h) Class A-8 Notes 0.00000000 0.00
(i) Class A-9 Notes 0.00000000 0.00
(j) Class A-10 Notes 0.00000000 0.00
(k) Class B Certificates 0.00000000 0.00
8. Principal Balance after giving effect to Principal Distribution Pool Factor
(a) Class A-1 Notes 0.0000000 0.00
(b) Class A-2 Notes 0.0389902 4,639,839.33
(c) Class A-3 Notes 1.0000000 113,000,000.00
(d) Class A-4 Notes 1.0000000 73,000,000.00
(e) Class A-5 Notes 1.0000000 132,000,000.00
(f) Class A-6 Notes 1.0000000 88,000,000.00
(g) Class A-7 Notes 1.0000000 57,000,000.00
(h) Class A-8 Notes 1.0000000 85,000,000.00
(i) Class A-9 Notes 1.0000000 61,000,000.00
(j) Class A-10 Notes 1.0000000 65,000,000.00
(k) Class B Certificates 1.0000000 44,895,285.54
POOL DATA Aggregate
- -------------------------------
No. of ContractsPrincipal Balance
1. Pool Stated Principal Balance as of 4/30/98 23,937 723,535,124.87
2. Delinquency Information % Delinquent
(a) 31-59 Days 214 4,956,679.13 0.685%
(b) 60-89 Days 79 1,967,539.44 0.272%
(c) 90-119 Days 46 1,295,423.42 0.179%
(d) 120 Days + 143 5,568,665.76 0.770%
3. Contracts Repossessed during the Due Period 7 271,946.33
4. Current Repossession Inventory 13 478,118.54
5. Aggregate Net Losses for the preceding Collection Period
(a) Aggregate Principal Balance of Liquidated Receivables 11 340,352.84
(b) Net Liquidation Proceeds on any Liquidated Receivables 221,344.70
-------------------
Total Aggregate Net Losses for the preceding Collection Period 119,008.14
6. Aggregate Losses on all Liquidated Receivables (Year-To-Date) 859,321.94
7. Aggregate Net Losses on all Liquidated Receivables (Life-To-Date) 75 1,110,665.96
8. Weighted Average Contract Rate of all Outstanding Contracts 9.286%
9. Weighted Average Remaining Term to Maturity of all Outstanding Contracts 123.342
TRIGGER ANALYSIS
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1. (a) Average Delinquency Percentage 1.250%
(b) Delinquency Percentage Trigger in effect ? NO
2. (a) Average Net Loss Ratio 0.025%
(b) Net Loss Ratio Trigger in effect ? NO
(c) Net Loss Ratio (using ending Pool Balance) 0.206%
3. (a) Servicer Replacement Percentage 0.200%
(b) Servicer Replacement Trigger in effect ? NO
MISCELLANEOUS
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1. Monthly Servicing Fees 312,741.22
2. Servicer Advances 481,662.89
3. (a) Opening Balance of the Reserve Account 15,011,578.61
(b) Deposits to the Reserve Account 1,504,583.45
(c) Investment Earnings in the Reserve Account 68,906.38
(d) Distribution from the Reserve Account (2,114,365.94)
(e) Ending Balance of the Reserve Account 14,470,702.50
4. Specified Reserve Account Balance 14,470,702.50
5. (a) Opening Balance in the Pay-Ahead Account 651,279.21
(b) Deposits to the Pay-Ahead Account from the Collection Account 263,532.75
(c) Investment Earnings in the Pay-Ahead Account 0.00
(d) Transfers from the Pay-Ahead Account to the Collection Account (225,670.60)
(e) Ending Balance in the Pay-Ahead Account 689,141.36