CHASE MANHATTAN MARINE OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 4/30/99
Determination Date 5/12/99
Distribution Date 5/17/99
I. All Payments on the Contracts 6,433,752.79
II. All Liquidation Proceeds on the Contracts with respect to Principal 68,255.22
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 0.00
V. Servicer Monthly Advances 110,475.45
VI. Distribution from the Reserve Account 0.00
VII. Deposits from the Pay-Ahead Account (including Investment Earnings) 19,870.23
VIII. Transfers to the Pay-Ahead Account (15,909.94)
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 $6,616,443.75
=============
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 181,310.65
(b) Class A-3 Note Principal Distribution 5,378,771.55
Aggregate Class A-3 Note Distribution 109.88304743 5,560,082.20
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 64,040.56
(b) Reimbursement of prior Monthly Advances 142,123.69
Total Servicer Payment 206,164.25
10. Deposits to the Reserve Account 212,688.64
TOTAL DISTRIBUTION AMOUNT FROM COLLECTION ACCOUNT $6,616,443.75
=============
RESERVE ACCOUNT DISTRIBUTIONS TO SELLERS
(a) Amounts to the Sellers (Chase USA) from Excess Collections 107,620.45
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(b) Amounts to the Sellers (Chase Manhattan Bank) from Excess Collections 105,068.19
(c) Distribution from the Reserve Account to the Sellers(Chase USA) 136,521.34
(d) Distribution from the Reserve Account to the Sellers(Chase Manhattan Bank) 133,283.68
TOTAL AMOUNTS TO SELLERS(CHASE USA & CHASE MANHATTAN BANK) 482,493.66
==========
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% 181,310.65
(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 660,711.48
(g) Class B Notes @ 6.680% 69,286.00
(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 3.58321443 181,310.65
(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 660,711.48
(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 1,629,523.21
2. Amount of Principal Prepayment Collected 207 3,599,802.92
3. Amount of Liquidated Contract 9 149,445.42
4. Amount of Repurchased Contract 0 0.00
Total Formula Principal Distribution Amount 5,378,771.55
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 0.7003025 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
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 106.29983300 5,378,771.55
(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 0.5940027 30,056,534.40
(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 4/30/99 5,528 148,318,563.65
- -- ----------------------------------- ------- ----- --------------
2. Delinquency Information % Delinquent
------------
(a) 31-59 Days 81 947,622.25 0.639%
(b) 60-89 Days 20 259,660.82 0.175%
(c) 90-119 Days 10 134,348.28 0.091%
(d) 120 Days + 0 0.00 0.000%
3. Contracts Repossessed during the Due Period 1 10,050.69
4. Current Repossession Inventory 3 149,979.71
5. Aggregate Net Losses for the preceding Collection Period
(a) Aggregate Principal Balance of Liquidated Receivables 9 149,445.42
(b) Net Liquidation Proceeds on any Liquidated Receivables 68,255.22
---------------
Total Aggregate Net Losses for the preceding Collection Period 81,190.20
6. Aggregate Losses on all Liquidated Receivables (Year-To-Date) 974,947.68
7. Aggregate Net Losses on all Liquidated Receivables (Life-To-Date) 262 3,799,054.11
8. Weighted Average Contract Rate of all Outstanding Contracts 9.382%
9. Weighted Average Remaining Term to Maturity of all Outstanding Contracts 126.845
TRIGGER ANALYSIS
- -------------------------------------------
1. (a) Average 60+ Delinquency Percentage 0.709%
(b) Delinquency Percentage Trigger in effect ? NO
2. (a) Average Net Loss Ratio 0.109%
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(b) Net Loss Ratio Trigger in effect ? NO
(c) Net Loss Ratio (using ending Pool Balance) 0.142%
3. (a) Servicer Replacement Percentage 0.040%
(b) Servicer Replacement Trigger in effect ? NO
MISCELLANEOUS
- -------------------------------------------
1. Monthly Servicing Fees 64,040.56
2. Servicer Advances 110,475.45
3. (a) Opening Balance of the Reserve Account 6,916,380.08
(b) Deposits to the Reserve Account 212,688.64
(c) Investment Earnings in the Reserve Account 27,760.30
(d) Distribution from the Reserve Account (482,493.66)
(e) Ending Balance of the Reserve Account 6,674,335.36
4. Specified Reserve Account Balance 6,674,335.36
5. (a) Opening Balance in the Pay-Ahead Account 219,290.62
(b) Deposits to the Pay-Ahead Account from the Collection Account 15,909.94
(c) Investment Earnings in the Pay-Ahead Account 0.00
(d) Transfers from the Pay-Ahead Account to the Collection Account (19,870.23)
(e) Ending Balance in the Pay-Ahead Account 215,330.33
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