CHASE MANHATTAN MARINE OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 7/31/99
Determination Date 8/11/99
Distribution Date 8/16/99
I. All Payments on the Contracts 4,660,478.04
II. All Liquidation Proceeds on the Contracts with respect to Principal 386,541.79
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 0.00
V. Servicer Monthly Advances 87,419.01
VI. Distribution from the Reserve Account 0.00
VII. Deposits from the Pay-Ahead Account (including Investment Earnings) 34,741.81
VIII. Transfers to the Pay-Ahead Account (16,769.29)
IX. Less: Investment Earnings distributions
(a) To Sellers with respect to the Collection Account 0.00
(b) To Sellers with respect to the Pay-Ahead Account -21605.94
Total available amount in Collection Account $5,130,805.42
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DISTRIBUTION AMOUNTS Cost per $1000
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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 92,263.00
(b) Class A-3 Note Principal Distribution 3,925,485.15
Aggregate Class A-3 Note Distribution 79.40213735 4,017,748.15
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 56,789.12
(b) Reimbursement of prior Monthly Advances 117,451.95
Total Servicer Payment 174,241.07
10. Deposits to the Reserve Account 301,307.54
Total Distribution Amount from Collection Account $5,130,805.42
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Reserve Account distributions to Sellers
(a) Amounts to the Sellers (Chase USA) from Excess Collections 152,461.62
(b) Amounts to the Sellers (Chase Manhattan Bank) from Excess
Collections 148,845.92
(c) Distribution from the Reserve Account to the Sellers(Chase USA) 102,800.15
(d) Distribution from the Reserve Account to the Sellers
(Chase Manhattan Bank) 100,362.20
Total Amounts to Sellers(Chase USA &
Chase Manhattan Bank) 504,469.89
============
Payahead Account distributions to Sellers
- --------------------------------------------
(a) Distribution from the Payahead Account to
the Sellers(Chase USA) 10932.60564
(b) Distribution from the Payahead Account to the Sellers(Chase
Manhattan Bank) 10673.33436
Total Amounts to Sellers(Chase USA & Chase
Manhattan Bank) 21605.94
INTEREST
1. Current Interest Requirement
(a) Class A-1 Notes @ 5.845% 0.00
(b) Class A-2 Notes @ 0.06028 0.00
(c) Class A-3 Notes @ 6.140% 92,263.00
(d) Class A-4 Notes @ 6.250% 194270.83
(e) Class A-5 Notes @ 6.420% 156,755.00
(f) Class A-6 Notes @ 6.500% 128375
Aggregate Interest on Class A Notes 571663.83
(g) Class B Notes @ 0.0668 59285
(h) Class C Notes @ 0.0685 98822.83
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
(g) Class B Notes 0.00
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(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 0.00
(c) Class A-3 Notes 1.82337945 92,263.00
(d) Class A-4 Notes 5.20833324 194270.83
(e) Class A-5 Notes 5.35000000 156,755.00
(f) Class A-6 Notes 5.41666667 128375
Total Aggregate Interest on Class A Notes 571663.83
(g) Class B Notes 5.566666667 59,285.00
- --------------------------------------------
(h) Class C Notes 5.71 98822.83
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PRINCIPAL
No. of Contracts
1. Amount of Stated Principal Collected 1457107.81
2. Amount of Principal Prepayment Collected 164.00 2316878.51
3. Amount of Liquidated Contract 10 151498.83
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4. Amount of Repurchased Contract 0 0.0000000
Total Formula Principal Distribution Amount 3,925,485.15
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 0.3563608 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 23700000
(g) Class B Notes 1 10,650,000.00
(h) Class C Notes 1 17,312,029.25
6. Remaining Principal 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
(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 77.57875791 3,925,485.15
(d) Class A-4 Notes 0.00000000 0.00
(e) Class A-5 Notes 0.00000000 0.00
(f) Class A-6 Notes 0 0
(g) Class B Notes 0 0.00
(h) Class C Notes 0 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 0.2787820 14,106,370.83
(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 23700000
(g) Class B Notes 1.0000000 10,650,000.00
- --------------------------------------------
(h) Class C Notes 1 17312029.25
POOL DATA
Aggregate
No. of Contracts Principal Balance
1. Pool Stated Principal Balance as of 36372 4,908 132,368,400.08
2. Delinquency Information % Delinquent
(a) 31-59 Days 133 1,982,667.22 0.014978403
(b) 60-89 Days 22 173125.55 0.001307907
(c) 90-119 Days 17 183,927.28 0.00138951
(d) 120 Days + 0 0.00 0
3. Contracts Repossessed during the Due Period 1 202,610.00
---------------
4. Current Repossession Inventory 1 202,610.00
5. Aggregate Net Losses for the preceding Collection Period
(a) Aggregate Principal Balance of Liquidated Receivables 10 151,498.83
(b) Net Liquidation Proceeds on any Liquidated Receivables 386,541.79
Total Aggregate Net Losses for the preceding Collection Period -235042.96
6. Aggregate Losses on all Liquidated Receivables (Year-To-Date) 737343.4
7. Aggregate Net Losses on all Liquidated Receivables (Life-To-Date) 292 3550717.050
8. Weighted Average Contract Rate of all Outstanding Contracts 0.093720051
- --------------------------------------------
9. Weighted Average Remaining Term to Maturity of all Outstanding Contracts 124.8609069
TRIGGER ANALYSIS
1. (a) Average 60+ Delinquency Percentage 0.671%
(b) Delinquency Percentage Trigger in effect ? NO
2. (a) Average Net Loss Ratio -0.000427792
(b) Net Loss Ratio Trigger in effect ? NO
(c) Net Loss Ratio (using ending Pool Balance) -0.000619711
(a) Servicer Replacement Percentage -0.001154257
- --------------------------------------------
(b) Servicer Replacement Trigger in effect ? NO
MISCELLANEOUS
1. Monthly Servicing Fees 56,789.12
2. Servicer Advances 87419.01
3. (a) Opening Balance of the Reserve Account 6133224.84
(b) Deposits to the Reserve Account 301307.54
(c) Investment Earnings in the Reserve Account 26515.51
(d) Distribution from the Reserve Account -504469.89
(e) Ending Balance of the Reserve Account 5956578
4. Specified Reserve Account Balance 5956578.004
5. (a) Opening Balance in the Pay-Ahead Account 206877.31