Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of October, 1996
Principal and Interest Collections
Beginning Pool Balance (1) $201,817,703.45
Beginning Pool Factor [(1)/$ 205,480,433.58] (2) 0.9821748
Principal Collected (3) 3,984,699.40
Interest Collected (4) 1,616,506.41
Less: Accrued Interest Prior to Cut Off Date (5) 944,480.41
Less: Additional Purchased Accrued Interest (5a) 0.00
Plus: Purchased Accrued Interest-
End of Collection Period (6) 946,479.91
Net decrease/(increase) in Purchased
Accrued Interest [(5)+(5a)-(6)] (7) (1,999.50)
Plus: "Non-Reimbursable Interest Payment" (8) 13,678.27
Total Interest Received
[(4)-(5)-(5a)+(6)=(8)] (9) 1,632,184.18
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) 5,616,883.58
Defaulted Receivable Principal Balance [(A1)] (15) 0.00
Ending Pool Balance [(1)-(3)-(15) (16) $197,833,004.05
Ending Pool Factor [(16)/$ 205,480,433.58] (17) 0.9627827
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of October, 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%
October Beginning Pool Balance [(1)] $194,754,083.83 $7,063,619.62 $201,817,703.45
October Ending Pool Balance [(16)] $190,908,848.91 $6,924,155.14 $197,833,004.05
Collected Principal [(3)] $3,845,234.92 $139,464.48 $3,984,699.40
Collected Interest [(9)] $1,575,057.73 $57,126.45 $1,632,184.18
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)] ($162,295.07) ($5,886.35) ($168,181.42)
Total Available Funds $5,257,997.58 $190,704.58 $5,448,702.16
Payments to Certficateholders:
Principal Distributable Amount [(1)-(16 $3,845,234.92 $139,464.48 $3,984,699.40
Interest Distributable Amount $1,119,835.98 $41,793.08 $1,161,629.06
[(1)x(coupon/12)]
Total Payments to Certificateholder $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 $292,926.68 $9,447.02 $302,373.70
Memo:
Principal Difference ($0.00) ($0.00) ($0.00)
Interest Difference $292,926.68 $9,447.02 $302,373.70
Total $292,926.68 $9,447.02 $302,373.70
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of October, 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)/$205,480,433.58] 0.00%
(Less than 1.5% ?)
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of October, 1996
Beginning Reserve Fund Balance (57)$ 3,354,649.57
Plus: Excess Amounts from Seller (57a) 302,373.70
Plus: Investment Earnings (57b) 16,506.74
Less: Reserve Fund Payments (58) 0.00
Subtotal Reserve Fund $ 3,673,530.01
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)$ 3,673,530.01
Required Reserve Fund Balance:
(Lesser of 1 or 2)
(1) Greater of: $4,109,609 or 2.00% of the Ending Pool Balance
(Class A and Class B Certificate Balances), but not greater
than the Ending Pool Balance (unless the Cumulative Loss
Percentage exceeds 1.5%), or (2);
(2) (18% - Subordination Fraction) x the Ending Pool Balance NA
Required Amount (60)$ 4,109,609.00
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)$ 3,673,530.01
(including Negative Carry Balance)
Reserve Fund Balance as a Percent
of the Ending Pool Balance (63) 1.86%
Interest Income on Reserve Fund for October, 1996
from The Chase Manhattan Bank (64)$ 16,506.74
Interest Income on Negative Carry Balance for (65)$ 0.00
October, 1996 from The Chase Manhattan Bank
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of October, 1996
Reconciliation of Net Payment to the Trustee
Available Funds $ 5,616,883.58
Servicing Fees $ (168,181.42)
Total Available Funds $ 5,448,702.16
Total payments to Class A $ 4,965,070.90
Total payments to Class B $ 181,257.56
Reserve Fund:
Excess from Seller [(57a)] $ 302,373.70
Reserve Fund Payments [(58)] $ 0.00
Gross payment to the Trustee $ 5,448,702.16
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 Interest (9a) N/A
Total Amount Held by Trustee $ 0.00
Net payment to the Trustee $ 5,448,702.16
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 8,475
Less: Account Paid Off / Repurchased 109
Plus: Accounts in Collateral Addition 0
Number of Accounts - End of Month 8,366
Non-Accrual Accounts - End of Month
Number of Non-Accrual Accounts 1
Aggregate Principal Balance Outstanding $ 61,874.21
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of October, 1996
Delinquent Accounts
Period of Delinquency Units Amount Percent of Pool
30 - 59 days 5 $ 81,878.23 0.04%
60 - 89 days 2 49,668.20 0.03%
90 days or more 0 0.00 0.00%
Total 7 $ 131,546.43 0.07% (A)
Repossession Inventory 1 $ 61,874.21 0.03% (B)
Delinquency Percentage
Quarter
AUG SEPT OCT Total (Avg)
90 days or more (000) $ N/A $ 0.0 $ 0.0 $ 0.0
Repossession Inventory (000) $ N/A $ 0.0 $ 61.9 $ 20.6
Total $ N/A $ 0.0 $ 61.9 $ 20.6 (A)
Ending Pool Balance (mils) $ N/A $201.8 $197.8 $133.2 (B)
Delinquency Percentage (A)/(B) 0.02%
Realized Loss Analysis
Quarter
AUG SEPT OCT Total
Realized Losses/(Recoveries) (X)
[(A1+(A2)-(B)] (000) $ N/A $ 0.0 $ 0.0 $ 0.0 (Sum)
Beginning Pool Balance (mils) $ N/A $205.5 $201.8 $135.8 (Avg)
Realized Loss Percentage
(Less than 1.5%?) [((X)/(Y))*4] 0.00%
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