EXHIBIT 19(a)
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of December, 1996
Principal and Interest Collections
Beginning Pool Balance (1) $ 194,734,880.57
Beginning Pool Factor [(1)/$ 205,480,433.58] (2) 0.9477052
Principal Collected (3) $ 3,091,903.21
Interest Collected (4) $ 1,563,658.08
Less: Accrued Interest Prior to Cut Off Date (5) 962,692.73
Less: Additional Purchased Accrued Interest (5a) 0.00
Plus: Purchased Accrued Interest -
End of Collection Period (6) 963,342.35
Net decrease/(increase) in Purchased
Accrued Interest [(5)+(5a)-(6)] (7) $ -649.62
Plus: "Non-Reimbursable Interest Payment" (8) 10,902.02
Total Interest Received
[(4)-(5)-(5a)+(6)+(8)] (9) $ 1,575,209.72
Additional Deposits
(i) Repurchase Amounts (10) 0.00
(ii) Liquidation Proceeds (11) 23,352.00
(iii) Yield Supplement Deposit Amount (12) 0.00
Total Additional Deposits [(10)+(11)+(12)] (13) $ 23,352.00
Total Available Funds [(3)+(9)+(13)] (14) $ 4,690,464.93
Defaulted Receivable Principal Balance [(A1)] (15) $ 43,157.50
Ending Pool Balance [(1)-(3)-(15)] (16) $ 191,599,819.86
Ending Pool Factor [(16)/$ 205,480,433.58] (17) 0.9324480
/TABLE
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of December, 1996
Distributions:
Class A Class B
Total
Class Percentage 96.5% 3.5%
100%
Pool Factor (Ending Pool Balance) 0.9324480 0.9324480
0.9324480
Class Coupon 6.90% 7.10%
December Beginning Pool Balance [(1)] $187,919,159.75 $6,815,720.82
$194,734,880.57
December Ending Pool Balance [(16)] $184,893,826.16 $6,705,993.70
$191,599,819.86
Collected Principal [(3)] $2,983,686.60 $108,216.61
$3,091,903.21
Collected Interest [(9)] $1,520,077.38 $55,132.34
$1,575,209.72
Other Collected Interest [(9a)] $0.00 $0.00
$0.00
Additional Deposits [(10)+(11)] $22,534.68 $817.32
$23,352.00
Servicing Fee [(1.0%/12)x(1)] ($156,599.30) ($5,679.77)
($162,279.07)
Total Available Funds $4,369,699.36 $158,486.50
$4,528,185.86
Payments to Certificateholders:
Principal Distributable Amount[(1)-(16)] $3,025,333.59 $109,727.12
$3,135,060.71
Interest Distributable Amount $1,080,535.17 $40,326.35
$1,120,861.52
[(1)x(coupon/12)]
Total Payments to Certificateholders $4,105,868.76 $150,053.47
$4,255,922.23
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 $263,830.60 $8,433.03
$272,263.63
Memo:
Principal Difference ($19,112.31) ($693.19)
($19,805.50)
Interest Difference $282,942.91 $9,126.22
$292,069.13
Total $263,830.60 $8,433.03
$272,263.63
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of December, 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)$ 43,157.50
Interest (A2) 415.71
Expense (A3) 624.00
Total (A) $ 44,197.21
Less: Liquidation Proceeds (B) $ 23,352.00
Realized Loss [(A1)+(A2)-(B)] (C) $ 20,221.21
Cumulative Losses (Including Expenses) (D) $ 42,818.04
Cumulative Loss Percentage [(D)/$205,480,433.58] 0.02%
(Less than 1.5% ?)
/TABLE
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of December, 1996
Reconciliation of Reserve Fund
Beginning Reserve Fund Balance (57) $ 3,914,654.59
Plus: Excess Amounts from Seller (57a) 272,263.63
Plus: Investment Earnings (57b) 18,703.35
Less: Reserve Fund Payments (58) 0.00
Subtotal Reserve Fund $ 4,205,621.57
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) $ 4,205,621.57
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) $ 4,109,609.00
Amount of Excess Reserve released [(59)-(60)] (61) $ 96,012.57
(No Release to be made during Pre-funding period)
Ending Reserve Fund Balance to be invested(including (62) $ 4,109,609.00
Negative Carry Balance)
Reserve Fund Balance as a Percent
of the Ending Pool Balance (63) 2.14%
Interest Income on Reserve Fund for December, 1996
from The Chase Manhattan Bank (64) $ 18,703.35
Interest Income on Negative Carry Balance for (65) $ 0.00
December, 1996 from The Chase Manhattan Bank
/TABLE
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of December, 1996
Reconciliation of Net Payment to the Trustee
Available Funds $ 4,690,464.93
Servicing Fees ($162,279.07)
Total Available Funds $ 4,528,185.86
Total payments to Class A $ 4,105,868.76
Total payments to Class B $ 150,053.47
Reserve Fund:
Excess from Seller [(57a)] $ 272,263.63
Reserve Fund Payments [(58)] $ (0.00)
Gross payment to the Trustee $ 4,528,185.86
Amounts Held by Trustee:
Less: Amount released from Reserve Fund
in excess of $4,109,609 (Net of Reserve Fund payment) $ 96,012.57
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 $ 96,012.57
Net payment to the Trustee $ 4,432,173.29
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 8,283
Less: Account Paid Off / Repurchased 77
Plus: Accounts in Collateral Addition 0
Number of Accounts - End of Month 8,206
Non-Accrual Accounts - End of Month
Number of Non-Accrual Accounts 2
Aggregate Principal Balance Outstanding $51,552.12
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1996-B GRANTOR TRUST
Servicer's Certificate
For the Month of December, 1996
Delinquent Accounts
Period of Delinquency Units Amount Percent of Pool
30 - 59 days 12 $255,918.62 0.133%
60 - 89 days 3 47,052.70 0.025%
90 days or more 1 3,322.82 0.002%
Total 16 $306,294.14 0.160% (A)
Repossession Inventory 2 $ 51,552.12 0.03% (B)
Delinquency Percentage
Quarter
NOV DEC JAN Total (Avg)
90 days or more (000) $ 42.3 $ 3.3 $ N/A $ N/A
Repossession Inventory (000) $ 65.9 $51.6 $ N/A $ N/A
Total $108.2 $54.9 $ N/A $ N/A (A)
Ending Pool Balance (mils) $194.7 $191.6 $ 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 $ 20.2 $ N/A $ N/A (Sum)
Beginning Pool Balance(mils)(Y) $197.8 $194.7 $ N/A $ N/A (Avg)
Realized Loss Percentage
(Less than 1.5%?) [((X)/(Y))*4] N/A
Realized Losses Since Inception $ 41,994.04
(less than $3,082,207 ?)
Change in Realized Losses $ 20,221.21
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