AMERICAN HONDA FINANCE CORPORATION
QUARTERLY SERVICER REPORT -- Honda Auto Receivables 1997-B Grantor Trust
July 1, through September 30, 1998
A. ORIGINAL DEAL PARAMETER INPUTS
(A) Original Total Portfolio $904,409,897.00
(B) Class A Certificate Ownership Interest of the Trust 94.00%
(C) Original Class A Certificate Balance $850,145,000.00
(D) Class A Certificate Rate 5.95%
(E) Original Class B Certificate Balance $54,264,897.00
(F) Class B Certificate Rate 5.95%
(G) Servicing Fee Rate 1.00%
(H) Original Weighted Average Coupon (WAC) 7.66%
(I) Original Weighted Average Remaining Term (WAM) 43.73 months
(J) Number of Contracts 83,274
(K) Reserve Fund
(i) Reserve Fund Initial Deposit Percentage 0.75%
(ii) Reserve Fund Initial Deposit $6,783,074.23
(iii) Specified Reserve Fund Balance Percent 0.75%
(iv) Specified Reserve Fund Balance $6,783,074.23
(v) Reserve Fund Floor Percent 1.50%
(vi) Reserve Fund Floor Amount $13,566,148.46
(vii) Reserve Fund Floor Trigger Amount $271,322,969.12
(L) Original Yield Supplement Deposit $9,291,930.03
(M) Original Letter of Credit Amount $70,000,000.00
B. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS
(A) Total Portfolio Outstanding $614,457,111.56
(B) Total Portfolio Pool Factor 0.6794011
(C) Class A Certificate Balance $577,589,684.87
(D) Class A Principal Factor 0.6794014
(E) Class B Certificate Balance $36,867,426.69
(F) Reserve Fund Balance $6,783,074.23
(G) Outstanding Interest Advance $1,287,400.54
(H) Payahead Account Balance $2,414,746.73
(I) Cumulative Net Losses for All Prior Periods 2,059,303.26
(J) Weighted Average Coupon of Remaining Portfolio (WAC) 7.75%
(K) Weighted Average Remaining Term of Remaining Portfolio (WAM) 37.53 months
(L) Number of Contracts 64,569
(M) Yield Supplement Balance $4,608,887.71
(N) Letter of Credit Amount $0.00
C. INPUTS FROM THE MAINFRAME
(A) Precomputed Contracts Principal
(i) Scheduled Principal Collections 13,756,330.23
(ii) Prepayments in Full 5,988,909.09
(iii) Prepayments in Full Due to Repurchases $0.00
(B) Precomputed Contracts Total Collections $22,624,801.30
(C) Simple Interest Contracts
(i) Collected Principal 59,851,433.92
(ii) Collected Interest $8,687,630.84
(iii) Repurchased Receivables Principal $0.00
(iv) Repurchased Receivables Interest $0.00
(D) Payment Advance for Precomputes
(i) Reimbursement of Previous Advances $1,119,516.99
(ii) Current Advance Amount $1,022,428.42
(E) Interest Advance for Simple Interest - Net (If positive, Addi $0.00
(F) Payahead Account
(i) Payments Applied $1,503,926.11
(ii) Additional Payaheads $1,125,810.79
(G) Weighted Average Coupon of Remaining Portfolio (WAC) 7.78%
(H) Weighted Average Remaining Maturity of Remaining Portfolio (W 35.38 months
(I) Remaining Number of Contracts 59,174
(J) Delinquent Contracts Contracts Amount
(i) 31-60 Days Delinquent 554 0.94% $5,162,994 0.97%
(ii) 61-90 Days Delinquent 90 0.15% 936,208 0.18%
(iii) Over 90 Days Delinquent 37 0.06% 405,943 0.08%
D. INPUTS DERIVED FROM OTHER SOURCES
(A) Collection Account Investment Income -- Paid to Servicer 0.00
(B) Reserve Fund Investment Income -- Paid to Seller 90,431.45
(C) Investment Income on Yield Supplement Balance 60,150.88
(D) Aggregate Net Losses for Collection Period 1,239,895.06
(E) Liquidated Contracts
(i) Gross Principal Balance of Liquidated Receivables 2,423,434.32
(ii) Net Liquidation Proceeds Received During the Collection 935,858.13
(iii) Recoveries on Previously Liquidated Contracts 247,681.13
(F) Number of Vehicles Repossessed During the Collection Period 128
EXHIBIT 99
AMERICAN HONDA FINANCE CORPORATION
QUARTERLY SERVICER REPORT -- Honda Auto Receivables 1997-B Grantor Trust
July 1, through September 30, 1998
I. COLLECTIONS
(A) Principal Payments Received (Excluding Repurchases) (C(A)i+ii $79,596,673.24
(B) Interest Payments Received (C(B) - (C(A)i+ii+iii + C(ii) - D( 11,470,104.25
(C) Aggregate Net Liquidation Proceeds Received (D(D)ii+iii) 1,183,539.26
(D) Principal on Repurchased Contracts (C(A)iii + C(C)iii) 0.00
(E) Interest on Repurchased Contracts (C(C)iv) 0.00
(F) Total Collections (A+B+C+D+E) 92,250,316.75
(G) Net Simple Interest Advance Amount (C(E)) 0.00
(H) Total Collections and Advances (F+G) 92,250,316.75
(I) Yield Supplement Deposit 940,146.92
(J) Total Available Amount (H+I) 93,190,463.67
II. DISTRIBUTIONS
(A) Principal Payments Received (Excluding Repurchases) (I(A)) $79,596,673.24
(B) Principal on Repurchased Contracts (I(D)) 0.00
(C) Gross Principal Balance of Liquidated Receivables (D(D)i) 2,423,434.32
(D) Total Principal Reduction (A+B+C) $82,020,107.56
(E) Class A Distributable Amount
(i) Class A Quarterly Interest Payment (A(D)*B(C)) $8,192,775.51
(ii) Quarterly Principal to Class A (B(C)-(III(i)*A(B)) 77,098,901.11
(iii) Total Distributable Amount (i+ii) $85,291,676.62
(F) Class B Distributable Amount
(i) Class B Quarterly Interest Payment (A(F)*B(E)) $522,943.12
(ii) Quarterly Principal to Class B (II(D)-(E)ii) 4,921,206.45
(iii) Total Distributable Amount (i+ii) $5,444,149.57
(G) Required Distributions
(i) Servicing Fee (A(G)*B(A)) $1,464,826.65
(ii) Class A Amount (II(E)iii) 85,291,676.62
(iii) Deposit to Reserve Fund (If Positive (IV(H)-(A))) 0.00
(iv) Class B Amount (II(F)iii) 5,444,149.57
(v) Residual Release to Seller 989,810.83
(vi) Total Amount Distributed (i+ii+iii+iv+v) 93,190,463.67
(H) Amount of Draw from Reserve Fund (IV(B+C+D)) 0.00
(I) Sum of Draw from Reserve Fund and Total Available Amount (I(H 93,190,463.67
III. POOL BALANCES AND PORTFOLIO INFORMATION
Beginning End
of Period of Period
(A) Balances and Principal Factors
(i) Total Pool Balance $614,457,111.56 $532,437,004.00
(ii) Total Pool Factor 0.6794011 0.5887120
(iii) Class A Certificate Bala $577,589,684.87 $500,490,783.76
(iv) Class A Principal Factor 0.6794014 0.5887123
(v) Class B Certificate Bala $36,867,426.69 $31,946,220.24
(B) Portfolio Information
(i) Weighted Average Coupon 7.75% 7.78%
(ii) Weighted Average Remaini 37.53 months 35.38 months
(iii) Remaining Number of Cont 64,569 59,174
(C) Outstanding Advance Amount $1,287,400.54 $1,190,311.97
(D) Outstanding Payahead Balance $2,414,746.73 $2,036,631.41
EXHIBIT 99
AMERICAN HONDA FINANCE CORPORATION
QUARTERLY SERVICER REPORT -- Honda Auto Receivables 1997-B Grantor Trust
July 1, through September 30, 1998
IV. RECONCILIATION OF RESERVE FUND
(A) Beginning Reserve Fund Balance (B(F)) 6,783,074.23
(B) Draw for Class A Distributable Amount and Servicing Fee 0.00
(If Positive ((II(E)iii+(G)i)-I(H)))
(C) Draw for Class B Distributable Amount and Servicing Fee 0.00
(If Positive ((II(E)iii + II(F)(iii) + (G)i) - (I(H)+IV(B)))
(D) Amount Available for Deposit to the Reserve Fund 989,810.83
(If Positive (I(H) - (II(E)iii + II(F)(iii) + (G)i)))
(E) Reserve Fund Balance Prior to Release (IV(A-B-C+D)) $7,772,885.06
(F) Reserve Fund Required Amount (Was Trigger or Floor Hit?) $6,783,074.23
(G) Reserve Fund Release to Seller $989,810.83
(If Positive (E-F))
(H) Ending Reserve Fund Balance (E-G) $6,783,074.23
V. YIELD SUPPLEMENT ACCOUNT DEPOSIT
(A) Beginning Yield Supplement Account Balance $4,608,887.71
(B) Investment Earnings 60,150.88
(C) Additional Yield Supplement Amounts 0.00
(D) Yield Supplement Deposit Amount 940,146.92
(E) Ending Yield Supplement Account Balance 3,728,891.67
(F) Release Amount Due Seller $194,130.56
(G) Ending Yield Supplement Account Balance to be Invested 3,534,761.10
VI. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY
(A) Aggregate Net Losses for Collection Period (V(B)i-ii-iii) $1,239,895.06
(B) Liquidated Contracts
(i) Gross Principal Balance of Liquidated Receivables (D(D) $2,423,434.32
(ii) Net Liquidation Proceeds Received During the Collection 935,858.13
(iii) Recoveries on Previously Liquidated Contracts (D(D)iii) 247,681.13
(C) Cumulative Net Losses for all Periods (V(A)+B(H)) 3,299,198.32
(D) Delinquent and Repossessed Contracts
Contracts Amount
(i) 31-60 Days Delinquent 554 0.94% $5,162,994.00
(ii) 61-90 Days Delinquent 90 0.15% 936,208.00
(iii) Over 90 Days Delinquent 37 0.06% 405,943.00
(iv) Vehicles Repossessed Dur 128 0.20% 1,660,398.01
VII. TESTS FOR INCREASE IN RESERVE FUND BALANCE
(A) Ratio of Net Losses to the Pool Balance as of Each Collection Period.
(i) Second Preceeding Collection Period 0.95%
(ii) Preceeding Collection Period 1.02%
(iii) Current Collection Period 0.61%
(iv) Three Month Average (Avg(i,ii,iii)) 0.86%
(B) Ratio of Number of Contracts Delinquent 60 Days or More to the Outstanding
Number of Receivables as of Each Collection Period.
(i) Second Preceeding Collection Period 0.29%
(ii) Preceeding Collection Period 0.34%
(iii) Current Collection Period 0.35%
(iv) Three Month Average (Avg(i,ii,iii)) 0.33%
(C) Loss and Delinquency Trigger Indicator Trigger Was Not Hit
I hereby certify that the servicing report provided is true
and accurate to the best of my knowledge.
By:
/s/ John Weisickle
John Weisickle, Vice President / Finance
EXHIBIT 99