Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of September, 1996
Principal and Interest Collections
Beginning Pool Balance (1) $205,480,433.58
Beginning Pool Factor [(1)/$ 205,480,433.58] (2) 1.0000000
Principal Collected (3) 3,662,730.13
Interest Collected (4) 1,647,240.61
Less: Accrued Interest Prior to Cut Off Date (5) 987,059.20
Less: Additional Purchased Accrued Interest (5a) 0.00
Plus: Purchased Accrued Interest-
End of Collection Period (6) 944,480.41
Net decrease/(increase) in Purchased
Accrued Interest [(5)+(5a)-(6)] (7) 42,578.79
Plus: "Non-Reimbursable Interest Payment" (8) 11,059.08
Total Interest Received
[(4)-(5)-(5a)+(6)=(8)] (9) 1,615,720.90
Additional Deposits
(i) Repurchase Amounts (10) 0.00
(ii) Liquidation Proceeds (11) 0.00
(iii) Yield Supplement Deposit Amount (12) 0.00
Total Additional Deposits [(10)+(11)+(12)] (13) 0.00
Total Available Funds [(3)+(9)+(13)] (14) 5,278,451.03
Defaulted Receivable Principal Balance [(A1)] (15) 0.00
Ending Pool Balance [(1)-(3)-(15) (16) $201,817,703.45
Ending Pool Factor [(16)/$ 205,480,433.58] (17) 0.9821748
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of September, 1996
Distributions: Class A Class B Total
Class Percentage 96.5% 3.5% 100%
Pool Factor (Ending Pool Balance) 0.9821748 0.9821748 0.9821748
Class Coupon 6.90% 7.10%
September Beginning Pool Balance [(1)]
$198,288,618.4 $7,191,815.18 $205,480,433.5
September Ending Pool Balance [(16)] $194,754,083.8 $7,063,619.62 $201,817,703.4
Collected Principal [(3)] $3,534,534.58 $128,195.55 $3,662,730.13
Collected Interest [(9)] $1,559,170.67 $56,550.23 $1,615,720.90
Other Collected Interest [(9a)] $0.00 $0.00 $0.00
Additional Deposits [(10)+(11)] $0.00 $0.00 $0.00
Servicing Fee [(1.0%/12)x(1)] ($165,240.51) ($5,993.18) ($171,233.69)
Total Available Funds $4,928,464.74 $178,752.60 $5,107,217.34
Payments to Certficateholders:
Principal Distributable Amount [(1)-(16)] $3,534,534.58 $128,195.55 $3,662,730.13
Interest Distributable Amount $1,140,159.56 $42,551.57 $1,182,711.13
[(1)x(coupon/12)]
Total Payments to Certificateholders $4,674,694.14 $170,747.12 $4,845,441.26
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 $253,770.60 $8,005.48 $261,776.08
Memo:
Principal Difference ($0.00) ($0.00) ($0.00)
Interest Difference $253,770.60 $8,005.48 $261,776.08
Total $253,770.60 $8,005.48 $261,776.08
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of September, 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 (51) $ N/A
Yield Supplement Amount
Receivables with coupon rates below 7.90%
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) $ 0.00
Interest (A2) 0.00
Expense (A3) 0.00
Total (A)$ 0.00
Less: Liquidation Proceeds (B)$ 0.00
Realized Loss [(A1)+(A2)-(B)] (C)$ 0.00
Cumulative Losses (Including Expenses) (D)$ 0.00
Cumulative Loss Percentage [(D)/$205,480,433.58] 0.00%
(Less than 1.5% ?)
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of September, 1996
Beginning Reserve Fund Balance (57) $3,082,207.00
Plus: Excess Amounts from Seller (57a) 261,776.08
Plus: Investment Earnings (57b) 10,666.49
Less: Reserve Fund Payments (58) 0.00
Subtotal Reserve Fund $3,354,649.57
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) $3,354,649.57
Required Reserve Fund Balance:
(Lesser of 1 or 2)
(1) Greater of: $4,109,609 or 2.00% 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) $4,036,354.07
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 (62) $3,354,649.57
(including Negative Carry Balance)
Reserve Fund Balance as a Percent
of the Ending Pool Balance (63) 1.66%
Interest Income on Reserve Fund for September, 1996
from The Chase Manhattan Bank (64) $ 10,666.49
Interest Income on Negative Carry Balance for (65) $ 0.00
September, 1996 from The Chase Manhattan Bank
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of September, 1996
Reconciliation of Net Payment to the Trustee
Available Funds $5,278,451.03
Servicing Fees ($171,233.69)
Total Available Funds $5,107,217.34
Total payments to Class A $4,674,694.14
Total payments to Class B $170,747.12
Reserve Fund:
Excess from Seller [(57a)] $ 261,776.08
Reserve Fund Payments [(58)] ($0.00)
Gross payment to the Trustee $5,107,217.34
Amounts Held by Trustee:
Less: Amount released from Reserve Fund
in excess of $4,109,609 (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 Int(9a) N/A
Total Amount Held by Trustee $0.00
Net payment to the Trustee $5,107,217.34
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 8,570
Less: Account Paid Off / Repurchased 95
Plus: Accounts in Collateral Addition 0
Number of Accounts - End of Month 8,475
Non-Accrual Accounts - End of Month
Number of Non-Accrual Accounts 0
Aggregate Principal Balance Outstanding $0.00
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of September, 1996
Delinquent Accounts
Period of Delinquency Units Amount Percent of Pool
30 - 59 days 4 $ 209,675.97 0.10%
60 - 89 days 0 0.00 0.00%
90 days or more 0 0.00 0.00%
Total 4 $ 209,675.97 0.10% (A)
Repossession Inventory 0 $ 0.00 0.00% (B)
Delinquency Percentage
Quarter
AUG SEPT OCT Total
(Avg)
90 days or more (000) $ N/A $ 0.0 $ N/A $ N/A
Repossession Inventory (000) $ N/A $ 0.0 $ N/A $ N/A
Total $ N/A $ 0.0 $ N/A $ N/A (A)
Ending Pool Balance (mils) $ N/A $201.8 $ N/A $ N/A (B)
Delinquency Percentage (A)/(B) N/A
Realized Loss Analysis
Quarter
AUG SEPT OCT Total
Realized Losses/(Recoveries) (X)
[(A1+(A2)-(B)] (000) $ N/A $ 0.0 $ N/A $
N/A(Sum)
Beginning Pool Balance (mils) $ N/A $205.5 $ N/A $
N/A(Avg)
Realized Loss Percentage
(Less than 1.5%?) [((X)/(Y))*4] N/A
Realized Losses Since Inception (less than $3,082,207 ?) $ 0.00
Change in Realized Losses $ 0.00
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