CHASE MANHATTAN MARINE OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 2/28/99
Determination Date 3/10/99
Distribution Date 3/15/99
I. All Payments on the Contracts 5,555,439.64
II. All Liquidation Proceeds on the Contracts with
respect to Principal 695,471.98
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 0.00
V. Servicer Monthly Advances 191,420.00
VI. Distribution from the Reserve Account 207,432.35
VII. Deposits from the Pay-Ahead Account
(including Investment Earnings) 18,890.20
VIII. Transfers to the Pay-Ahead Account (10,166.29)
IX. Less: Investment Earnings distributions 0.00
(a) To Sellers with respect to the Collection
Account 0.00
(b) To Sellers with respect to the Pay-Ahead
Account
Total available amount in Collection Account $6,658,487.88
==============
DISTRIBUTION AMOUNTS Cost per $1000
- ------------------------------------------- ----------------------
1. (a) Class A-1 Note Interest Distribution 0.00
(b) Class A-1 Note Principal Distribution 0.00
Aggregate Class A-1 Note Distribution 0.00000000 0.00
2. (a) Class A-2 Note Interest Distribution 0.00
(b) Class A-2 Note Principal Distribution 0.00
Aggregate Class A-2 Note Distribution 0.00000000 0.00
3. (a) Class A-3 Note Interest Distribution 242,783.24
(b) Class A-3 Note Principal Distribution 5,605,003.78
Aggregate Class A-3 Note Distribution 115.56891344 5,847,787.02
4. (a) Class A-4 Note Interest Distribution 194,270.83
(b) Class A-4 Note Principal Distribution 0.00
Aggregate Class A-4 Note Distribution 5.20833324 194,270.83
5. (a) Class A-5 Note Interest Distribution 168,755.00
(b) Class A-5 Note Principal Distribution 0.00
Aggregate Class A-5 Note Distribution 5.35000000 156,755.00
6. (a) Class A-6 Note Interest Distribution 128,375.00
(b) Class A-6 Note Principal Distribution 0.00
Aggregate Class A-6 Note Distribution 5.41666667 128,375.00
7. (a) Class B Note Interest Distribution 59,285.00
(b) Class B Note Principal Distribution 0.00
Aggregate Class B Note Distribution 5.56666667 59,285.00
8. (a) Class C Note Interest Distribution 98,822.83
(b) Class C Note Principal Distribution 0.00
Aggregate Class C Note Distribution 5.70833312 98,822.83
9. Servicer Payment
(a) Servicing Fee 69,046.47
(b) Reimbursement of prior Monthly Advances 104,145.73
Total Servicer Payment 173,192.20
10. Deposits to the Reserve Account 0.00
Total Distribution Amount from Collection Account $6,658,487.88
==============
Reserve Account distributions to Sellers
(a) Amounts to the Sellers (Chase USA)
from Excess Collections 0.00
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(b) Amounts to the Sellers (Chase Manhattan
Bank) from Excess Collections 0.00
(c) Distribution from the Reserve Account to
the Sellers(Chase USA) 36,922.28
(d) Distribution from the Reserve Account to
the Sellers(Chase Manhattan Bank) 36,046.66
Total Amounts to Sellers(Chase USA &
Chase Manhattan Bank) 72,968.94
==============
INTEREST
- -------------------------------------------
1. Current Interest Requirement
(a) Class A-1 Notes @ 5.845% 0.00
(b) Class A-2 Notes @ 6.028% 0.00
(c) Class A-3 Notes @ 6.140% 242,783.24
(d) Class A-4 Notes @ 6.250% 194,270.83
(e) Class A-5 Notes @ 6.420% 156,755.00
(f) Class A-6 Notes @ 6.500% 128,375.00
Aggregate Interest on Class A Notes 722,184.07
(g) Class B Notes @ 6.680% 69,386.00
(h) Class C Notes @ 6.850% 98,822.83
2. Remaining Interest Shortfall
(a) Class A-1 Notes 0.00
(b) Class A-2 Notes 0.00
(c) Class A-3 Notes 0.00
(d) Class A-4 Notes 0.00
(e) Class A-5 Notes 0.00
(f) Class A-6 Notes 0.00
(g) Class B Notes 0.00
(h) Class C Notes 0.00
3. Total Distribution of Interest Cost per $1000
----------------------
(a) Class A-1 Notes 0.00000000 0.00
(b) Class A-2 Notes 0.00000000 0.00
(c) Class A-3 Notes 4.79808775 242,783.24
(d) Class A-4 Notes 5.20833324 194,270.83
(e) Class A-5 Notes 5.36000000 156,765.00
(f) Class A-6 Notes 5.41666667 128,375.00
Total Aggregate Interest on Class A Notes 722,184.07
(g) Class B Notes 5.56666667 59,285.00
(h) Class C Notes 5.70833312 98,822.83
PRINCIPAL
- -------------------------------------------
No. of Contracts
----------------------
1. Amount of Stated Principal Collected 1,497,867.41
2. Amount of Principal Prepayment Collected 116 2,899,577.16
3. Amount of Liquidated Contract 17 1,207,559.21
4. Amount of Repurchased Contract 0 0.00
Total Formula Principal Distribution Amount 6,605,003.78
5. Principal Balance before giving effect to Principal Pool Factor
Distribution -----------
(a) Class A-1 Notes 0.0000000 0.00
(b) Class A-2 Notes 0.0000000 0.00
(c) Class A-3 Notes 0.9377370 47,449,493.20
(d) Class A-4 Notes 1.0000000 37,300,000.00
(e) Class A-5 Notes 1.0000000 29,300,000.00
(f) Class A-6 Notes 1.0000000 23,700,000.00
(g) Class B Notes 1.0000000 10,650,000.00
(h) Class C Notes 1.0000000 17,312,029.25
6. Remaining Principal Shortfall
(a) Class A-1 Notes 0.00
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(b) Class A-2 Notes 0.00
(c) Class A-3 Notes 0.00
(d) Class A-4 Notes 0.00
(e) Class A-5 Notes 0.00
(f) Class A-6 Notes 0.00
(g) Class B Notes 0.00
(h) Class C Notes 0.00
7. Principal Distribution Cost per $1000
----------------------
(a) Class A-1 Notes 0.00000000 0.00
(b) Class A-2 Notes 0.00000000 0.00
(c) Class A-3 Notes 110.77082569 5,605,003.78
(d) Class A-4 Notes 0.00000000 0.00
(e) Class A-5 Notes 0.00000000 0.00
(f) Class A-6 Notes 0.00000000 0.00
(g) Class B Notes 0.00000000 0.00
(h) Class C Notes 0.00000000 0.00
8. Principal Balance after giving effect to
Principal Distribution Pool Factor
-----------
(a) Class A-1 Notes 0.0000000 0.00
(b) Class A-2 Notes 0.0000000 0.00
(c) Class A-3 Notes 0.8269662 41,844,489.42
(d) Class A-4 Notes 1.0000000 37,300,000.00
(e) Class A-5 Notes 1.0000000 29,300,000.00
(f) Class A-6 Notes 1.0000000 23,700,000.00
(g) Class B Notes 1.0000000 10,650,000.00
(h) Class C Notes 1.0000000 17,312,029.25
POOL DATA
- -------------------------------------------
Aggregate
No. of Contracts Principal Balance
---------------- -----------------
1. Pool Stated Principal Balance as of 2/28/99 5,938 160,106,518.67
2. Delinquency Information % Delinquent
------------
(a) 31-59 Days 93 1,217,692.73 0.761%
(b) 60-89 Days 33 553,614.37 0.346%
(c) 90-119 Days 15 323,974.76 0.202%
(d) 120 Days + 0 0.00 0.000%
3. Contracts Repossessed during the Due Period 0 0.00
4. Current Repossession Inventory 2 18,639.63
5. Aggregate Net Losses for the preceding Collection Period
(a) Aggregate Principal Balance of Liquidated
Receivables 17 1,207,559.21
(b) Net Liquidation Proceeds on any Liquidated
Receivables 695,471.98
--------------
Total Aggregate Net Losses for the preceding
Collection Period 512,087.23
6. Aggregate Losses on all Liquidated Receivables
(Year-To-Date) 810,711.82
7. Aggregate Net Losses on all Liquidated Receivables
(Life-To-Date) 243 3,638,756.18
8. Weighted Average Contract Rate of all Outstanding
Contracts 9.390%
9. Weighted Average Remaining Term to Maturity of all
Outstanding Contracts 128.705
TRIGGER ANALYSIS
- -------------------------------------------
1. (a) Average 60+ Delinquency Percentage 1.101%
(b) Delinquency Percentage Trigger in effect? NO
2. (a) Average Net Loss Ratio 0.133%
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(b) Net Loss Ratio Trigger in effect? NO
(c) Net Loss Ratio (using ending Pool Balance) 0.171%
3. (a) Servicer Replacement Percentage 0.251%
(b) Servicer Replacement Trigger in effect? NO
MISCELLANEOUS
- -------------------------------------------
1. Monthly Servicing Fees 69,046.47
2. Servicer Advances 191,420.00
3. (a) Opening Balance of the Reserve Account 7,457,018.61
(b) Deposits to the Reserve Account 0.00
(c) Investment Earnings in the Reserve Account 28,176.12
(d) Distribution from the Reserve Account (280,401.29)
(e) Ending Balance of the Reserve Account 7,204,793.34
4. Specified Reserve Account Balance 7,204,793.34
5. (a) Opening Balance in the Pay-Ahead Account 248,408.74
(b) Deposits to the Pay-Ahead Account from the
Collection Account 10,166.29
(c) Investment Earnings in the Pay-Ahead Account 0.00
(d) Transfers from the Pay-Ahead Account to the
Collection Account (18,890.20)
(e) Ending Balance in the Pay-Ahead Account 239,684.83
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