CHASE MANHATTAN MARINE OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 5/31/99
Determination Date 6/10/99
Distribution Date 6/15/99
I. All Payments on the Contracts 6,500,197.64
II. All Liquidation Proceeds on the Contracts
with respect to Principal 144,343.68
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 0.00
V. Servicer Monthly Advances 122,912.34
VI. Distribution from the Reserve Account 0.00
VII. Deposits from the Pay-Ahead Account
(including Investment Earnings) 17,914.47
VIII. Transfers to the Pay-Ahead Account (18,209.81)
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 $6,767,158.32
=============
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 153,789.27
(b) Class A-3 Note Principal Distribution 5,478,159.78
Aggregate Class A-3 Note Distribution 111.30334091 5,631,949.05
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 61,799.40
(b) Reimbursement of prior Monthly Advances 103,095.56
Total Servicer Payment 164,894.96
10. Deposits to the Reserve Account 332,805.65
Total Distribution Amount from Collection Account $6,767,158.32
=============
Reserve Account distributions to Sellers
(a) Amounts to the Sellers (Chase USA)
from Excess Collections
168,399.66
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(b) Amounts to the Sellers (Chase Manhattan Bank)
from Excess Collections 164,405.99
(c) Distribution from the Reserve Account to
the Sellers(Chase USA) 138,685.47
(d) Distribution from the Reserve Account to the
Sellers (Chase Manhattan Bank) 135,396.48
Total Amounts to Sellers(Chase USA
& Chase Manhattan Bank) 606,887.60
==========
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% 153,789.27
(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 633,190.10
(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
Cost
3. Total Distribution of Interest 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 3.03931364 153,789.27
(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 633,190.10
(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 1,392,863.64
2. Amount of Principal Prepayment Collected 203 3,982,822.66
3. Amount of Liquidated Contract 7 102,473.48
4. Amount of Repurchased Contract 0 0.00
Total Formula Principal Distribution Amount 5,478,159.78
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 0.5940027 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
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 108.26402727 5,478,159.78
(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 0.4857386 24,578,374.62
(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
- --------------------------------------------
No. of Aggregate
Contracts Principal Balance
----------- -----------------
1. Pool Stated Principal Balance as of 5/31/99 5,318 142,840,403.87
2. Delinquency Information % Delinquent
------------
(a) 31-59 Days 69 1,042,489.92 0.730%
(b) 60-89 Days 23 326,963.41 0.229%
(c) 90-119 Days 11 128,880.56 0.090%
(d) 120 Days + 0 0.00 0.000%
3. Contracts Repossessed during the Due Period 0 0.00
4. Current Repossession Inventory 3 146,818.78
5. Aggregate Net Losses for the preceding
Collection Period
(a) Aggregate Principal Balance of
Liquidated Receivables 7 102,473.48
(b) Net Liquidation Proceeds on any
Liquidated Receivables 144,343.68
------------
Total Aggregate Net Losses for the preceding
Collection Period -41,870.20
6. Aggregate Losses on all Liquidated
Receivables (Year-To-Date) 937,924.12
7. Aggregate Net Losses on all Liquidated
Receivables (Life-To-Date) 269 3,757,183.91
8. Weighted Average Contract Rate of all
Outstanding Contracts 9.378%
9. Weighted Average Remaining Term to Maturity
of all Outstanding Contracts 126.311
TRIGGER ANALYSIS
- --------------------------------------------
1. (a) Average 60+ Delinquency Percentage 0.640%
(b) Delinquency Percentage Trigger in effect ? NO
2. (a) Average Net Loss Ratio 0.019%
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(b) Net Loss Ratio Trigger in effect ? NO
(c) Net Loss Ratio (using ending Pool Balance) 0.026%
3. (a) Servicer Replacement Percentage -0.021%
(b) Servicer Replacement Trigger in effect ? NO
MISCELLANEOUS
- --------------------------------------------
1. Monthly Servicing Fees 61,799.40
2. Servicer Advances 122,912.34
3. (a) Opening Balance of the Reserve Account 6,674,335.36
(b) Deposits to the Reserve Account 332,805.65
(c) Investment Earnings in the Reserve Account 27,564.76
(d) Distribution from the Reserve Account (606,887.60)
(e) Ending Balance of the Reserve Account 6,427,818.17
4. Specified Reserve Account Balance 6,427,818.17
5. (a) Opening Balance in the Pay-Ahead Account 215,330.33
(b) Deposits to the Pay-Ahead Account
from the Collection Account 18,209.81
(c) Investment Earnings in the
Pay-Ahead Account 0.00
(d) Transfers from the Pay-Ahead Account
to the Collection Account (17,914.47)
(e) Ending Balance in the Pay-Ahead Account 215,625.67
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