AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 1997-B Grantor Trust
March 1, through March 31, 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 $739,030,331.55
(B) Total Portfolio Pool Factor 0.8171409
(C) Class A Certificate Balance $694,688,511.66
(D) Class A Principal Factor 0.8171412
(E) Class B Certificate Balance $44,341,819.89
(F) Reserve Fund Balance $6,783,074.23
(G) Outstanding Interest Advance $1,756,483.45
(H) Payahead Account Balance $3,000,780.78
(I) Cumulative Net Losses for All Prior Periods 596970.58
(J) Weighted Average Coupon of Remaining Portfolio (WAC) 7.70%
(K) Weighted Average Remaining Term of Remaining Portfolio (WAM) 40.25 months
(L) Number of Contracts 75,133
(M) Yield Supplement Balance $6,370,802.72
C. INPUTS FROM THE MAINFRAME
(A) Precomputed Contracts Principal
(i) Scheduled Principal Collections $5,882,204.96
(ii) Prepayments in Full $3,031,591.08
(iii) Prepayments in Full Due to Repurchases $0.00
(B) Precomputed Contracts Total Collections $10,111,647.03
(C) Simple Interest Contracts
(i) Collected Principal $25,421,537.68
(ii) Collected Interest $3,648,133.85
(iii) Repurchased Receivables Principal $0.00
(iv) Repurchased Receivables Interest $0.00
(D) Payment Advance for Precomputes
(i) Reimbursement of Previous Advances $706,231.64
(ii) Current Advance Amount $312,719.08
(E) Interest Advance for Simple Interest - Net (If positive, Additional
Advance; If negative, Reimbur $0.00
(F) Payahead Account
(i) Payments Applied $598,682.27
(ii) Additional Payaheads $447,816.54
(G) Weighted Average Coupon of Remaining Portfolio (WAC) 7.71%
(H) Weighted Average Remaining Maturity of Remaining Portfolio (WAM) 39.59 months
(I) Remaining Number of Contracts 72,264
(J) Delinquent Contracts Contracts Amount
--------- ------
(i) 31-60 Days Delinquent 563 0.78% $6,020,561 0.86%
(ii) 61-90 Days Delinquent 82 0.11% 852,847 0.12%
(iii) Over 90 Days Delinquent 27 0.04% 326,335 0.05%
D. INPUTS DERIVED FROM OTHER SOURCES
(A) Collection Account Investment Income -- Paid to Servicer 0.00
(B) Reserve Fund Investment Income -- Paid to Seller 24,686.72
(C) Investment Income on Yield Supplement Balance 24,991.36
(D) Aggregate Net Losses for Collection Period 432,017.60
(E) Liquidated Contracts
(i) Gross Principal Balance of Liquidated Receivables 987,311.88
(ii) Net Liquidation Proceeds Received During the Collection Period 516,718.86
(iii) Recoveries on Previously Liquidated Contracts 38,575.42
(F) Number of Vehicles Repossessed During the Collection Period 50
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 1997-B Grantor Trust
March 1, through March 31, 1998
I. COLLECTIONS
(A) Principal Payments Received (Excluding Repurchases) (C(A)i+ii+C(i)) $34,335,333.72
(B) Interest Payments Received (C(B) - (C(A)i+ii+iii + C(ii) -
D(i)+D(ii))) 4,452,472.28
(C) Aggregate Net Liquidation Proceeds Received (D(D)ii+iii) 555,294.28
(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) $39,343,100.28
(G) Net Simple Interest Advance Amount (C(E)) 0.00
--------------
(H) Total Collections and Advances (F+G) 39,343,100.28
(I) Yield Supplement Deposit 416,817.18
(J) Total Available Amount (H+I) 39,759,917.46
II. DISTRIBUTIONS
(A) Principal Payments Received (Excluding Repurchases) (I(A)) $34,335,333.72
(B) Principal on Repurchased Contracts (I(D)) 0.00
(C) Gross Principal Balance of Liquidated Receivables (D(D)i) 987,311.88
--------------
(D) Total Principal Reduction (A+B+C) $35,322,645.60
(E) Class A Distributable Amount
(i) Class A Quarterly Interest Payment (A(D)*B(C)) $3,444,497.20
(ii) Quarterly Principal to Class A (B(C)-(III(i)*A(B)) 33,203,286.87
--------------
(iii) Total Distributable Amount (i+ii) $36,647,784.07
(F) Class B Distributable Amount
(i) Class B Quarterly Interest Payment (A(F)*B(E)) $219,861.52
(ii) Quarterly Principal to Class B (II(D)-(E)ii) 2,119,358.73
--------------
(iii) Total Distributable Amount (i+ii) $2,339,220.25
(G) Required Distributions
(i) Servicing Fee (A(G)*B(A)) $615,858.61
(ii) Class A Amount (II(E)iii) 36,647,784.07
(iii) Deposit to Reserve Fund (If Positive (IV(H)-(A))) 0.00
(iv) Class B Amount (II(F)iii) 2,339,220.25
(v) Residual Release to Seller 157,054.53
(vi) Total Amount Distributed (i+ii+iii+iv+v) 39,759,917.46
(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)+II(H)) 39,759,917.46
III. POOL BALANCES AND PORTFOLIO INFORMATION
Beginning End
of Period of Period
-------------------- ----------------------
(A) Balances and Principal Factors
(i) Total Pool Balance $739,030,331.55 $703,707,685.95
(ii) Total Pool Factor 0.8171409 0.7780849
(iii) Class A Certificate Balance $694,688,511.66 $661,485,224.79
(iv) Class A Principal Factor 0.8171412 0.7780852
(v) Class B Certificate Balance $44,341,819.89 $42,222,461.16
(B) Portfolio Information
(i) Weighted Average Coupon (WAC) 7.70% 7.71%
(ii) Weighted Average Remaining
Maturity (WAM) 40.25 months 39.59 months
(iii) Remaining Number of Contracts 75,133 72,264
(C) Outstanding Advance Amount $1,756,483.45 $1,362,970.89
(D) Outstanding Payahead Balance $3,000,780.78 $2,849,915.05
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 1997-B Grantor Trust
March 1, through March 31, 1998
(A) Beginning Reserve Fund Balance (B(F))
(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 157,054.53
(If Positive (I(H) - (II(E)iii + II(F)(iii) + (G)i))) ----------------------
(E) Reserve Fund Balance Prior to Release (IV(A-B-C+D)) $6,940,128.76
(F) Reserve Fund Required Amount (Was Trigger or Floor Hit?) $6,783,074.23
(G) Reserve Fund Release to Seller $157,054.53
(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 $6,370,802.72
(B) Investment Earnings 24,991.36
(C) Additional Yield Supplement Amounts 0.00
(D) Yield Supplement Deposit Amount 416,817.18
----------------------
(E) Ending Yield Supplement Account Balance 5,978,976.90
(F) Release Amount Due Seller $89,137.86
----------------------
(G) Ending Yield Supplement Account Balance to be Invested 5,889,839.04
VI. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY
(A) Aggregate Net Losses for Collection Period (V(B)i-ii-iii) $432,017.60
(B) Liquidated Contracts
(i) Gross Principal Balance of Liquidated Receivables (D(D)i) $987,311.88
(ii) Net Liquidation Proceeds Received During the Collection Peroid
(D(D)ii) 516,718.86
(iii) Recoveries on Previously Liquidated Contracts (D(D)iii) 38,575.42
(C) Cumulative Net Losses for all Periods (V(A)+B(H)) 1,028,988.18
(D) Delinquent and Repossessed Contracts
Contracts 432017.6
--------- --------
(i) 31-60 Days Delinquent 563 0.78% $6,020,561.00
(ii) 61-90 Days Delinquent 82 0.11% 852,847.00
(iii) Over 90 Days Delinquent 27 0.04% 326,335.00
(iv) Vehicles Repossessed During the
Collection Pe 50 0.07% 711,124.69
(v) Total Accumulated Repossessed and
in Inventory 102 0.14% 1,328,659.68
VI. 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 0.30%
(ii) Preceeding Collection Period 0.49%
(iii) Current Collection Period 0.72%
(iv) Three Month Average (Avg(i,ii,iii)) 0.50%
(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 0.32%
(ii) Preceeding Collection Period 0.33%
(iii) Current Collection Period 0.29%
(iv) Three Month Average (Avg(i,ii,iii)) 0.31%
(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