CHASE MANHATTAN MARINE OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 9/30/1999
Determination Date 10/12/1999
Distribution Date 10/15/1999
-------------------------------
I. All Payments on the Contracts 4,551,620.84
II. All Liquidation Proceeds on the Contracts with respect to Principal 244,464.62
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 0.00
V. Servicer Monthly Advances 126,594.15
VI. Distribution from the Reserve Account 0.00
VII. Deposits from the Pay-Ahead Account (including Investment Earnings) 98,134.85
VIII. Transfers to the Pay-Ahead Account (133,542.94)
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 -877.93
Total available amount in Collection Account $4,886,393.59
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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 52,995.20
(b) Class A-3 Note Principal Distribution 3,962,381.97
Aggregate Class A-3 Note Distribution 79.35528004 4,015,377.17
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 53,591.42
(b) Reimbursement of prior Monthly Advances 123,924.98
Total Servicer Payment 177,516.40
10. Deposits to the Reserve Account 55,991.36
Total Distribution Amount from Collection Account $4,886,393.59
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Reserve Account Distributions to Sellers
(a) Amounts to the Sellers (Chase USA) from Excess Collections 28,331.63
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(b) Amounts to the Sellers (Chase Manhattan Bank) from Excess Collections 27,659.73
(c) Distribution from the Reserve Account to the Sellers (Chase USA) 102,992.61
(d) Distribution from the Reserve Account to the Sellers (Chase Manhattan Bank) 100,550.10
Total Amounts to Sellers (Chase USA & Chase Manhattan Bank) 259,534.07
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Payahead Account distributions to Sellers
- -----------------------------------------
(a) Distribution from the Payahead Account to the Sellers (Chase USA) 444.23258
(b) Distribution from the Payahead Account to the Sellers (Chase Manhattan Bank) 433.69742
Total Amounts to Sellers (Chase USA & Chase Manhattan Bank) 877.93
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% 52,995.20
(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 532396.03
(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
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(a) Class A-1 Notes 0.00000000 0.00
(b) Class A-2 Notes 0 0.00
(c) Class A-3 Notes 1.04733597 52,995.20
(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 532396.03
(g) Class B Notes 5.566666667 59,285.00
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(h) Class C Notes 5.71 98822.83
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PRINCIPAL
No. of Contracts
1. Amount of Stated Principal Collected 1330126.01
2. Amount of Principal Prepayment Collected 114.00 2373370.56
3. Amount of Liquidated Contract 14 258885.4
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4. Amount of Repurchased Contract 0 0.0000000
Total Formula Principal Distribution Amount 3,962,381.97
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 0.2046911 10,357,369.01
(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 78.30794407 3,962,381.97
(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 0.1263831 6,394,987.04
(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
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POOL DATA
Aggregate
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No. of Contracts Principal Balance % Delinquent
---------------- ----------------- ------------
1. Pool Stated Principal Balance as of 36433 4,617 124,657,016.29
2. Delinquency Information
(a) 31-59 Days 82 1,464,334.13 0.011746905
(b) 60-89 Days 37 473855.65 0.003801275
(c) 90-119 Days 13 298,812.63 0.002397078
(d) 120 Days+ 0 0.00 0
3. Contracts Repossessed during the Due Period 0 0.00
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4. Current Repossession Inventory 2 93,502.29
5. Aggregate Net Losses for the preceding Collection Period
(a) Aggregate Principal Balance of Liquidated Receivables 14 258,885.40
(b) Net Liquidation Proceeds on any Liquidated Receivables 244,464.62
Total Aggregate Net Losses for the preceding Collection Period 14420.78
6. Aggregate Losses on all Liquidated Receivables (Year-To-Date) 669480.62
7. Aggregate Net Losses on all Liquidated Receivables (Life-To-Date) 319 3479502.580
8. Weighted Average Contract Rate of all Outstanding Contracts 0.093463752
9. Weighted Average Remaining Term to Maturity of all Outstanding Contracts 123.7526267
TRIGGER ANALYSIS
1. (a) Average 60+ Delinquency Percentage 0.897%
(b) Delinquency Percentage Trigger in effect? NO
2. (a) Average Net Loss Ratio -0.000530741
(b) Net Loss Ratio Trigger in effect? NO
(c) Net Loss Ratio (using ending Pool Balance) -0.000775264
3. (a) Servicer Replacement Percentage 7.08181E-05
(b) Servicer Replacement Trigger in effect? NO
MISCELLANEOUS
1. Monthly Servicing Fees 53,591.42
2. Servicer Advances 126594.15
3. (a) Opening Balance of the Reserve Account 5787872.92
(b) Deposits to the Reserve Account 55991.36
(c) Investment Earnings in the Reserve Account 25235.52
(d) Distribution from the Reserve Account -259534.07
(e) Ending Balance of the Reserve Account 5609565.73
4. Specified Reserve Account Balance 5609565.733
5. (a) Opening Balance in the Pay-Ahead Account 237220.14
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