CHASE MANHATTAN MARINE OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 3/31/99
Determination Date 4/12/99
Distribution Date 4/15/99
I. All Payments on the Contracts 7,409,514.23
II. All Liquidation Proceeds on the Contracts with
respect to Principal 182,303.00
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 0.00
V. Servicer Monthly Advances 111,304.71
VI. Distribution from the Reserve Account 0.00
VII. Deposits from the Pay-Ahead Account (including
Investment Earnings) 35,949.51
VIII. Transfers to the Pay-Ahead Account (15,555.30)
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 $7,723,516.15
==============
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 214,104.30
(b) Class A-3 Note Principal Distribution 6,409,183.47
Aggregate Class A-3 Note Distribution 130.89501522 6,623,287.77
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 156,755.00
(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 66,711.05
(b) Reimbursement of prior Monthly Advances 159,311.37
Total Servicer Payment 226,022.42
10. Deposits to the Reserve Account 236,697.30
Total Distribution Amount from Collection Account $7,723,516.15
==============
Reserve Account distributions to Sellers
(a) Amounts to the Sellers (Chase USA) from Excess
Collections 119,768.83
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(b) Amounts to the Sellers (Chase Manhattan Bank)
from Excess Collections 116,928.47
(c) Distribution from the Reserve Account to the
Sellers(Chase USA) 161,061.05
(d) Distribution from the Reserve Account to the
Sellers (Chase Manhattan Bank) 157,241.43
Total Amounts to Sellers(Chase USA &
Chase Manhattan Bank) 554,999.78
=============
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% 214,104.30
(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 693,505.13
(g) Class B Notes @ 6.680% 59,285.00
(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 4.23131028 214,104.30
(d) Class A-4 Notes 5.20833324 194,270.83
(e) Class A-5 Notes 5.35000000 156,755.00
(f) Class A-6 Notes 5.41666667 128,375.00
Total Aggregate Interest on Class A Notes 693,505.13
(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 2,080,322.96
2. Amount of Principal Prepayment Collected 184 4,067,449.78
3. Amount of Liquidated Contract 10 261,410.73
4. Amount of Repurchased Contract 0 0.00
Total Formula Principal Distribution Amount 6,409,183.47
5. Principal Balance before 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
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 126.66370494 6,409,183.47
(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 0.7003025 35,435,305.95
(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 3/31/99 5,744 153,697,335.20
2. Delinquency Information % Delinquent
------------
(a) 31-59 Days 81 1,051,334.57 0.684%
(b) 60-89 Days 24 391,432.77 0.255%
(c) 90-119 Days 16 212,498.35 0.138%
(d) 120 Days + 0 0.00 0.000%
3. Contracts Repossessed during the Due Period 1 131,462.72
4. Current Repossession Inventory 3 150,102.35
5. Aggregate Net Losses for the preceding Collection
Period
(a) Aggregate Principal Balance of Liquidated
Receivables 10 261,410.73
(b) Net Liquidation Proceeds on any Liquidated
Receivables 182,303.00
-------------
Total Aggregate Net Losses for the preceding
Collection Period 79,107.73
6. Aggregate Losses on all Liquidated Receivables
(Year-To-Date) 892,339.33
7. Aggregate Net Losses on all Liquidated Receivables
(Life-To-Date) 253 3,717,863.91
8. Weighted Average Contract Rate of all Outstanding
Contracts 9.386%
9. Weighted Average Remaining Term to Maturity of all
Outstanding Contracts 127.477
TRIGGER ANALYSIS
- -------------------------------------------
1. (a) Average 60+ Delinquency Percentage 0.911%
(b) Delinquency Percentage Trigger in effect? NO
2. (a) Average Net Loss Ratio 0.142%
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(b) Delinquency Percentage Trigger in effect? NO
2. (a) Average Net Loss Ratio 0.142%
(b) Net Loss Ratio Trigger in effect? NO
(c) Net Loss Ratio (using ending Pool Balance) 0.183%
3. (a) Servicer Replacement Percentage 0.039%
(b) Servicer Replacement Trigger in effect? NO
MISCELLANEOUS
- -------------------------------------------
1. Monthly Servicing Fees 66,711.05
2. Servicer Advances 111,304.71
3. (a) Opening Balance of the Reserve Account 7,204,793.34
(b) Deposits to the Reserve Account 236,697.30
(c) Investment Earnings in the Reserve Account 29,889.22
(d) Distribution from the Reserve Account (554,999.78)
(e) Ending Balance of the Reserve Account 6,916,380.08
4. Specified Reserve Account Balance 6,916,380.08
5. (a) Opening Balance in the Pay-Ahead Account 239,684.83
(b) Deposits to the Pay-Ahead Account from the Collection Account 15,555.30
(c) Investment Earnings in the Pay-Ahead Account 0.00
(d) Transfers from the Pay-Ahead Account to the Collection Account (35,949.51)
(e) Ending Balance in the Pay-Ahead Account 219,290.62
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