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CHASE MANHATTAN MARINE OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 6/30/1999
Determination Date 7/12/1999
Distribution Date 7/15/1999
I. All Payments on the Contracts 7,623,338.67
II. All Liquidation Proceeds on the Contracts with respect
to Principal 226,735.28
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 0.00
V. Servicer Monthly Advances 86,874.44
VI. Distribution from the Reserve Account 0.00
VII. Deposits from the Pay-Ahead Account
(including Investment Earnings) 19,682.25
VIII. Transfers to the Pay-Ahead Account (10,933.89)
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 $7,945,696.75
==============
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 125,759.35
(b) Class A-3 Note Principal Distribution 6,546,518.64
Aggregate Class A-3 Note Distribution 131.86320138 6,672,277.99
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 59,516.83
(b) Reimbursement of prior Monthly Advances 133,902.99
Total Servicer Payment 193,419.82
10. Deposits to the Reserve Account 442,490.28
Total Distribution Amount from Collection Account $7,945,696.75
=============
Reserve Account distributions to Sellers
(a) Amounts to the Sellers (Chase USA)
from Excess Collections 223,900.08
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(b) Amounts to the Sellers (Chase Manhattan Bank)
from Excess Collections 218,590.20
(c) Distribution from the Reserve Account to the Sellers
(Chase USA) 162,123.59
(d) Distribution from the Reserve Account to the Sellers
(Chase Manhattan Bank) 158,278.77
Total Amounts to Sellers (Chase USA
& Chase Manhattan Bank) 762,892.64
============
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% 125,759.35
(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 605,160.18
(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 2.48536265 125,759.35
(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 605,160.18
(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 1,567,237.98
2. Amount of Principal Prepayment Collected 223 4,723,969.28
3. Amount of Liquidated Contract 13 255,311.38
4. Amount of Repurchased Contract 0 0.00
Total Formula Principal Distribution Amount 6,546,518.64
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 0.4857386 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
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
Cost
7. Principal Distribution 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 129.37783874 6,546,518.64
(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 0.3563608 18,031,855.98
(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 6/30/1999 5,082 136,293,885.23
2. Delinquency Information % Delinquent
------------
(a) 31-59 Days 84 909,528.09 0.667%
(b) 60-89 Days 23 427,260.97 0.313%
(c) 90-119 Days 14 250,166.35 0.184%
(d) 120 Days + 0 0.00 0.000%
3. Contracts Repossessed during the Due Period 0 0.00
4. Current Repossession Inventory 0 0.00
5. Aggregate Net Losses for the preceding Collection Period
(a) Aggregate Principal Balance of Liquidated Receivables 13 255,311.38
(b) Net Liquidation Proceeds on any Liquidated Receivables 226,735.28
------------
Total Aggregate Net Losses for the preceding Collection Period 28,576.10
6. Aggregate Losses on all Liquidated Receivables (Year-To-Date) 970,406.17
7. Aggregate Net Losses on all Liquidated Receivables (Life-To-Date) 282 3,785,760.01
8. Weighted Average Contract Rate of all Outstanding Contracts 9.381%
9. Weighted Average Remaining Term to Maturity
of all Outstanding Contracts 125.283
TRIGGER ANALYSIS
- --------------------------------------------
1. (a) Average 60+ Delinquency Percentage 0.643%
(b) Delinquency Percentage Trigger in effect? NO
2. (a) Average Net Loss Ratio 0.011%
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(b) Net Loss Ratio Trigger in effect? NO
(c) Net Loss Ratio (using ending Pool Balance) 0.015%
3. (a) Servicer Replacement Percentage 0.014%
(b) Servicer Replacement Trigger in effect? NO
MISCELLANEOUS
- --------------------------------------------
1. Monthly Servicing Fees 59,516.83
2. Servicer Advances 86,874.44
3. (a) Opening Balance of the Reserve Account 6,427,818.17
(b) Deposits to the Reserve Account 442,490.28
(c) Investment Earnings in the Reserve Account 25,809.03
(d) Distribution from the Reserve Account (762,892.64)
(e) Ending Balance of the Reserve Account 6,133,224.84
4. Specified Reserve Account Balance 6,133,224.84
5. (a) Opening Balance in the Pay-Ahead Account 215,625.67
(b) Deposits to the Pay-Ahead Account from the
Collection Account 10,933.89
(c) Investment Earnings in the Pay-Ahead Account 0.00
(d) Transfers from the Pay-Ahead Account to
the Collection Account (19,682.25)
(e) Ending Balance in the Pay-Ahead Account 206,877.31
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