Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of November, 1996
Principal and Interest Collections
Beginning Pool Balance (1) $197,833,004.05
Beginning Pool Factor [(1)/$ 205,480,433.58] (2) 0.9627827
Principal Collected (3) 3,036,249.27
Interest Collected (4) 1,521,942.34
Less: Accrued Interest Prior to Cut Off Date (5) 946,479.91
Less: Additional Purchased Accrued Interest (5a) 0.00
Plus: Purchased Accrued Interest-
End of Collection Period (6) 962,692.73
Net decrease/(increase) in Purchased
Accrued Interest [(5)+(5a)-(6)] (7) (16,212.82)
Plus: "Non-Reimbursable Interest Payment" (8) 10,762.30
Total Interest Received
[(4)-(5)-(5a)+(6)=(8)] (9) 1,548,917.46
Additional Deposits
(i) Repurchase Amounts (10) 0.00
(ii) Liquidation Proceeds (11) 42,100.00
(iii) Yield Supplement Deposit Am ount (12) 0.00
Total Additional Deposits [(10)+(11)+(12)] (13) 42,100.00
Total Available Funds [(3)+(9)+(13)] (14) 4,627,266.73
Defaulted Receivable Principal Balance [(A1)] (15) 61,874.21
Ending Pool Balance [(1)-(3)-(15) (16) $194,734,880.57
Ending Pool Factor [(16)/$ 205,480,433.58] (17) 0.9477052
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of November, 1996
Distributions: Class A Class B Total
Class Percentage 96.5% 3.5% 100%
Pool Factor (Ending Pool Balance) 0.9477052 0.9477052 0.9477052
Class Coupon 6.90% 7.10%
November Beginning Pool Balance [(1)] $190,908,848.91 $6,924,155.14 $197,833,004.05
November Ending Pool Balance [(16)] $187,919,159.75 $6,815,720.82 $194,734,880.57
Collected Principal [(3)] $2,929,980.55 $106,268.72 $3,036,249.27
Collected Interest [(9)] $1,494,705.35 $54,212.11 $1,548,917.46
Other Collected Interest [(9a)] $0.00 $0.00 $0.00
Additional Deposits [(10)+(11)] $40,626.50 $1,473.50 $42,100.00
Servicing Fee [(1.0%/12)x(1)] ($159,090.71) ($5,770.13) ($164,860.84)
Total Available Funds $4,306,221.69 $156,184.20 $4,462,405.89
Payments to Certficateholders:
Principal Distributable Amount [(1)-(16)] $2,989,689.16 $108,434.32 $3,098,123.48
Interest Distributable Amount $1,097,725.88 $40,967.92 $1,138,693.80
[(1)x(coupon/12)]
Total Payments to Certificateholder $4,087,415.04 $149,402.24 $4,236,817.28
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 $218,806.65 $6,781.96 $225,588.61
Memo:
Principal Difference ($19,082.11) ($692.10) ($19,774.21)
Interest Difference $237,888.76 $7,474.06 $245,362.82
Total $218,806.65 $6,781.96 $225,588.61
/TABLE
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of November, 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) $61,874.21
Interest (A2) 1,998.62
Expense (A3) 200.00
Total (A) $64,072.83
Less: Liquidation Proceeds (B) $42,100.00
Realized Loss [(A1)+(A2)-(B)] (C) $21,772.83
Cumulative Losses (Including Expenses) (D) $21,972.83
Cumulative Loss Percentage [(D)/$205,480,433.58] 0.01%
(Less than 1.5% ?)
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of November, 1996
Beginning Reserve Fund Balance (57)$ 3,673,530.01
Plus: Excess Amounts from Seller (57a) 225,588.61
Plus: Investment Earnings (57b) 15,535.97
Less: Reserve Fund Payments (58) 0.00
Subtotal Reserve Fund $ 3,914,654.59
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)$ 3,914,654.59
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)$ 3,914,654.59
(including Negative Carry Balance)
Reserve Fund Balance as a Percent
of the Ending Pool Balance (63) 2.01%
Interest Income on Reserve Fund for November, 1996
from The Chase Manhattan Bank (64)$ 15,535.97
Interest Income on Negative Carry Balance for (65)$ 0.00
November, 1996 from The Chase Manhattan Bank
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of November, 1996
Reconciliation of Net Payment to the Trustee
Available Funds $ 4,627,266.73
Servicing Fees $
(164,860.84)
Total Available Funds $ 4,462,405.89
Total payments to Class A $ 4,087,415.04
Total payments to Class B $ 149,402.24
Reserve Fund:
Excess from Seller [(57a)] $ 225,588.61
Reserve Fund Payments [(58)] $ 0.00
Gross payment to the Trustee $ 4,462,405.89
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 $ 4,462,405.89
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 8,366
Less: Account Paid Off / Repurchased 83
Plus: Accounts in Collateral Addition 0
Number of Accounts - End of Month 8,283
Non-Accrual Accounts - End of Month
Number of Non-Accrual Accounts 5
Aggregate Principal Balance Outstanding $ 65,899.25
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of November, 1996
Delinquent Accounts
Period of Delinquency Units Amount Percent of Pool
30 - 59 days 4 $ 70,871.09 0.036%
60 - 89 days 1 3,322.82 0.002%
90 days or more 0 42,273.26 0.022%
Total 6 $ 116,467.17 0.060% (A)
Repossession Inventory 5 $ 65,899.25 0.03% (B)
Delinquency Percentage
Quarter
NOV DEC JAN Total (Avg)
90 days or more (000) $ 42.3 $ N/A $ N/A $ N/A
Repossession Inventory (000) $ 65.9 $ N/A $ N/A $ N/A
Total $108.2 $ N/A $ N/A $ N/A (A)
Ending Pool Balance (mils) $194.7 $ N/A $ N/A $ N/A (B)
Delinquency Percentage (A)/(B) N/A
Realized Loss Analysis
Quarter
NOV DEC JAN Total
Realized Losses/(Recoveries) (X)
[(A1+(A2)-(B)] (000) $ 21.8 $ N/A $ N/A $ N/A (Sum)
Beginning Pool Balance (mils) $197.8 $ N/A $ 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 ?) $ 21,772.83
Change in Realized Losses $ 21,772.83
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