Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of March, 1997
Principal and Interest Collections
Beginning Pool Balance (1) $ 183,011,151.56
Beginning Pool Factor [(1)/$ 183,011,151.56] (2) 1.0000000
Principal Collected (3) $ 3,289,871.09
Interest Collected (4) $ 1,372,403.37
Less: Accrued Interest Prior to Cut Off Date (5) 785,800.74
Less: Additional Purchased Accrued Interest (5a) 0.00
Plus: Purchased Accrued Interest -
End of Collection Period (6) 883,098.49
Net decrease/(increase) in Purchased
Accrued Interest [(5)+(5a)-(6)] (7) $ (97,297.75)
Plus: "Non-Reimbursable Interest Payment" (8) 10,608.38
Total Interest Received
[(4)-(5)-(5a)+(6)+(8)] (9) $ 1,480,309.50
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) $ 4,770,180.59
Defaulted Receivable Principal Balance [(A1)] (15) $ 0.00
Ending Pool Balance [(1)-(3)-(15)] (16) $ 179,721,280.47
Ending Pool Factor [(16)/$ 183,011,151.56] (17) 0.9820237
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of March, 1997
Distributions:
Class A Class B Total
Class Percentage 96.5% 3.5% 100%
Pool Factor (Ending Pool Balance) 0.9820237 0.9820237 0.9820237
Class Coupon 6.64% 6.83%
March Beginning Pool Balance [(1)] $176,605,761.26 $6,405,390.30 $183,011,151.56
March Ending Pool Balance [(16)] $173,431,035.65 $6,290,244.82 $179,721,280.47
Collected Principal [(3)] $3,174,725.60 $115,145.49 $3,289,871.09
Collected Interest [(9)] $1,428,498.67 $51,810.83 $1,480,309.50
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)] ($147,171.46) ($5,337.83) ($152,509.29)
Total Available Funds $4,456,052.81 $161,618.49 $4,617,671.30
Payments to Certficateholders:
Principal Distributable Amount [(1)-(16)] $3,174,725.60 $115,145.49 $3,289,871.09
Interest Distributable Amount [(1)x(coupon/12 $977,218.55 $36,457.35 $1,013,675.90
Total Payments to Certificateholders $4,151,944.15 $151,602.84 $4,303,546.99
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 $304,108.66 $10,015.65 $314,124.31
Memo:
Principal Difference $0.00 $0.00 $0.00
Interest Difference $304,108.66 $10,015.65 $314,124.31
Total $304,108.66 $10,015.65 $314,124.31
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 7.65%
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)/$183,011,151.56] 0.00%
(Less than 1.5% ?)
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of March, 1997
Reconciliation of Reserve Fund
Beginning Reserve Fund Balance (57) $ 2,745,168.00
Plus: Excess Amounts from Seller (57a) 314,124.31
Plus: Investment Earnings (57b) 13,211.12
Less: Reserve Fund Payments (58) 0.00
Subtotal Reserve Fund $ 3,072,503.43
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) $ 3,072,503.43
Required Reserve Fund Balance:
(Lesser of 1 or 2)
(1) Greater of: $3,660,223 or 2.50% 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) $ 4,493,032.01
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(including (62) $ 3,072,503.43
Negative Carry Balance)
Reserve Fund Balance as a Percent
of the Ending Pool Balance (63) 1.71%
Interest Income on Reserve Fund for March, 1997
from First Chicago (64) $ 13,211.12
Interest Income on Negative Carry Balance for March, 1997 (65) $ 0.00
from First Chicago
Reconciliation of Net Payment to the Trustee
Available Funds $4,770,180.59
Servicing Fees ($152,509.29)
Total Available Funds $4,617,671.30
Total payments to Class A $4,151,944.15
Total payments to Class B $151,602.84
Reserve Fund:
Excess from Seller [(57a)] $314,124.31
Reserve Fund Payments [(58)] $0.00
Gross payment to the Trustee $4,617,671.30
Amounts Held by Trustee:
Less: Amount released from Reserve Fund
in excess of $3,660,223 (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 $4,617,671.30
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 5,710
Less: Account Paid Off / Repurchased 93
Plus: Accounts in Collateral Addition 0
Number of Accounts - End of Month 5,617
Non-Accrual Accounts - End of Month
Number of Non-Accrual Accounts 1
Aggregate Principal Balance Outstanding $8,273.76
/TABLE
Fleetwood Credit Receivables Corp.
FLEETWOOD CREDIT 1997-A GRANTOR TRUST
Servicer's Certificate
For the Month of March, 1997
Delinquent Accounts
Period of Delinquency Units Amount Percent of Pool
30 - 59 days 8 $ 252,404.21 0.14%
60 - 89 days 0 0.00 0.00%
90 days or more 0 0.00 0.00%
Total 8 $ 252,404.21 0.14%(A)
Repossession Inventory 1 $ 8,273.76 0.005%(B)
Delinquency Percentage
Quarter
JAN FEB MAR Total(Avg)
90 days or more (000) $ N/A $ N/A $ 0.0 $ 0.0
Repossession Inventory (000) $ N/A $ N/A $ 8.3 $ 2.8
Total $ N/A $ N/A $ 8.3 $ 2.8 (A)
Ending Pool Balance (mils) $ N/A $ N/A $ 179.7 $ 59.9 (B)
Delinquency Percentage (A)/(B) 0.005%
Realized Loss Analysis
Quarter
JAN FEB MAR Total
Realized Losses/(Recoveries) (X)
[(A1+(A2)-(B)] (000) $ N/A $ N/A $ 0.0 $ 0.0(Sum)
Beginning Pool Balance (mils) (Y) $ N/A $ N/A $ 183.0 $61.0(Avg)
Realized Loss Percentage
(Less than 1.5%?) [((X)/(Y))*4] 0.00%
Realized Losses Since Inception (less than $2,745,168 ?) $ 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