Exhibit 19(b)
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1995-B GRANTOR TRUST
Servicer's Certificate
For the Month of April, 1996
Principal and Interest Collections
- ----------------------------------
Beginning Pool Balance (1) $ 126,746,595.51
Beginning Pool Factor [(1)/$ 150,000,000] (2) 0.8449773
Principal Collected (3) $ 3,834,299.24
Interest Collected (4) $ 1,067,904.45
Less: Accrued Interest Prior to Cut Off Date (5) 686,760.36
Less: Additional Purchased Accrued Interest (5a) 0.00
Plus: Purchased Accrued Interest -
End of Collection Period (6) 634,806.95
Net decrease/(increase) in Purchased
Accrued Interest [(5)+(5a)-(6)] (7) $ 51,953.41
Plus: "Non-Reimbursable Interest Payment" (8) 10,617.73
Total Interest Received
[(4)-(5)-(5a)+(6)+(8)] (9) $ 1,026,568.77
Additional Deposits
(i) Repurchase Amounts (10) 0.00
(ii) Liquidation Proceeds (11) 17,000.00
(iii) Yield Supplement Deposit Amount (12) 0.00
Total Additional Deposits [(10)+(11)+(12)] (13) $ 17,000.00
Total Available Funds [(3)+(9)+(13)] (14) $ 4,877,868.01
Defaulted Receivable Principal Balance [(A1)] (15) $ 37,279.39
Ending Pool Balance [(1)-(3)-(15)] (16) $ 122,875,016.88
Ending Pool Factor [(16)/$ 150,000,000] (17) 0.8191668
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1995-B GRANTOR TRUST
Servicer's Certificate
For the Month of April, 1996
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 [(50)x(0.50%/12)] (51) $ N/A
Yield Supplement Amount
Receivables with coupon rates below 7.55%
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) $ 37,279.39
Interest (A2) 367.94
Expense (A3) 389.91
-----------------
Total (A) $ 38,037.24
Less: Liquidation Proceeds (B) $ 17,000.00
Realized Loss [(A1)+(A2)-(B)] (C) $ 20,647.33
Cumulative Losses (Including Expenses) (D) $ 37,041.82
Cumulative Loss Percentage [(D)/$150,000,000] 0.02%
(Less than 1.5% ?)
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1995-B GRANTOR TRUST
Servicer's Certificate
For the Month of April, 1996
Reconciliation of Reserve Fund
- ------------------------------
Beginning Reserve Fund Balance (57) $ 3,802,397.87
Plus: Excess Amounts from Seller (57a) NA
Plus: Investment Earnings (57b) 18,378.25
Less: Reserve Fund Payments (58) NA
Subtotal Reserve Fund $ NA
Plus: Beginning Negative Carry Balance (58a) NA
Plus: Negative Carry Investment Earnings (58b) NA
Less: Payment from Negative Carry (58c) NA
---------------
Ending Negative Carry Balance (58d) NA
Reserve Fund Prior to Payments to Seller (59) $ NA
Required Reserve Fund Balance:
(Lesser of 1 or 2)
(1) Greater of: $3,750,000 or 3.0% 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) $ 3,750,000.00
Amount of Excess Reserve released [(59)-(60)] (61) $ NA
(No Release to be made during Pre-funding period) ---------------
Ending Reserve Fund Balance to be invested(including (62) $ NA
Negative Carry Balance) =======================
Reserve Fund Balance as a Percent
of the Ending Pool Balance (63) NA
---------------
Interest Income on Reserve Fund for April, 1996
from First Chicago (64) $ 18,378.25
---------------
Interest Income on Negative Carry Balance for April, 1996 (65) $ NA
from First Chicago ---------------
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1995-B GRANTOR TRUST
Servicer's Certificate
For the Month of April, 1996
Distributions:
Class A Class B Total
--------------- ------------- ---------------
Class Percentage 96.5% 3.5% 100%
Pool Factor (Ending Pool Balance) 0.8191668 0.8191668 0.8191668
Class Coupon 6.55% 6.75%
April Beginning Pool Balance [(1)] $122,310,464.67 $4,436,130.84 $126,746,595.51
--------------- ------------- ---------------
April Ending Pool Balance [(16)] $118,574,391.29 $4,300,625.59 $122,875,016.88
--------------- ------------- ---------------
Collected Principal [(3)] $3,700,098.77 $134,200.47 $3,834,299.24
--------------- ------------- ---------------
Collected Interest [(9)] $990,638.86 $35,929.91 $1,026,568.77
--------------- ------------- ---------------
Other Collected Interest [(9a)] NA NA NA
--------------- ------------- ---------------
Additional Deposits [(10)+(11)] $16,405.00 $595.00 $17,000.00
--------------- ------------- ---------------
Servicing Fee [(1.0%/12)x(1)] ($101,925.38) ($3,696.78) ($105,622.16)
--------------- ------------- ---------------
Total Available Funds NA NA NA
--------------- ------------- ---------------
Payments to Certficateholders:
Principal Distributable Amount [(1)-(16)] $3,736,073.38 $135,505.25 $3,871,578.63
--------------- ------------- ---------------
Interest Distributable Amount [(1)x(coupon/12)] $667,611.29 $24,953.24 $692,564.53
--------------- ------------- ---------------
Total Payments to Certificateholders $4,403,684.67 $160,458.49 $4,564,143.16
--------------- ------------- ---------------
Reserve Fund payment NA NA NA
--------------- ------------- ---------------
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 NA NA NA
--------------- ------------- ---------------
Memo:
Principal Difference ($19,569.61) ($709.78) ($20,279.39)
Interest Difference NA NA NA
--------------- ------------- ---------------
Total NA NA NA
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1995-B GRANTOR TRUST
Servicer's Certificate
For the Month of April, 1996
Reconciliation of Net Payment to the Trustee
- --------------------------------------------
Available Funds NA
Servicing Fees ($105,622.16)
--------------
Total Available Funds NA
==============
Total payments to Class A $4,403,684.67
Total payments to Class B $160,458.49
Reserve Fund:
Excess from Seller [(57a)] NA
Reserve Fund Payments [(58)] NA
--------------
Gross payment to the Trustee NA
==============
Amounts Held by Trustee:
Less: Amount released from Reserve Fund
in excess of $3,750,000 (Net of Reserve Fund payment) [(61)] NA
Less: Balance of Prefunded Account payable
to Certificateholders $0.00
Less: Amount paid from Negative Carry
Balance [(58c)] NA
Less: Amount paid from Pre-Funded
Amount Earnings [(72)] NA
--------------
Total Other Collected Interest (9a) NA
Total Amount Held by Trustee NA
--------------
Net payment to the Trustee NA
==============
Reconciliation of Pre-Funding Account
Beginning Pre-Funded Amount (70) NA
[Prior Month (74)]
Less: Amount applied to the purchase of
Subsequent Receivables (71) $0.00
Plus: Earnings on Pre-Funded Amount (72) NA
Less: Payment of Earnings (73) NA
--------------
Ending Pre-Funding Amount (74) NA
==============
Account Activity
Number of Accounts - Beginning of Month 5,105
Less: Account Paid Off / Repurchased 122
Plus: Accounts in Collateral Addition 0
Number of Accounts - End of Month 4,983
Non-Accrual Accounts - End of Month
Number of Non-Accrual Accounts 5
Aggregate Principal Balance Outstanding $227,764.72
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1995-B GRANTOR TRUST
Page 6 of 6
Servicer's Certificate
For the Month of April, 1996
Delinquent Accounts
Period of Delinquency Units Amount Percent of Pool
----- ------ ---------------
30 - 59 days 7 $ 194,225.85 0.16%
60 - 89 days 2 81,070.22 0.07%
90 days or more 1 16,983.11 0.01%
-------- ------------- -----
Total 10 $ 292,279.18 0.24% (A)
======== ============= =====
Repossession Inventory 5 $ 227,764.72 0.19% (B)
-------- ------------- -----
Delinquency Percentage
Quarter
FEB MAR APR Total (Avg)
------------- ------------ -------------- -----------
90 days or more (000) $ 90.0 $ 27.9 $ 17.0 $ 45.0 45.0
------------- ------------ -------------- ----------- -----
Repossession Inventory (000) $ 21.8 $ 109.4 $ 227.8 $ 119.6 119.6
------------- ------------ -------------- ----------- -----
Total $ 111.8 $ 137.3 $ 244.8 $ 164.6 (A) 164.6
============= ============ ============== =========== =====
Ending Pool Balance (mils) $ 130.4 $ 126.7 $ 122.9 $ 126.7 (B) 126.7
------------- ------------ -------------- ----------- -----
Delinquency Percentage (A)/(B) 0.13% 0.13%
------------- ------------ -------------- ----------- -----
Realized Loss Analysis
Quarter
FEB MAR APR Total
------------- ------------ -------------- -----------
Realized Losses/(Recoveries) (X)
[(A1+(A2)-(B)] (000) $ 4.3 $ 0.0 $ 20.6 $ 24.9 (Sum) 24.9
Beginning Pool Balance (mils) (Y) $ 134.3 $ 130.4 $ 126.7 $ 130.5 (Avg) 130.5
Realized Loss Percentage
(Less than 1.5%?) [((X)/(Y))*4] 0.08% 0.08%
----------- -----
Realized Losses Since Inception (less $ 36,639.91
than $2,250,000 ?) -----------
Change in Realized Losses $ 20,647.33
-----------
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