CHASE MANHATTAN MARINE OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 5/31/2002
Determination Date 6/12/2002
Distribution Date 6/17/2002
I. All Payments on the Contracts 2,588,431.45
II. All Liquidation Proceeds on the
Contracts with respect to Principal 34,805.15
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 2,513.03
V. Servicer Monthly Advances 33,371.66
VI. Distribution from the Reserve Account 0.00
VII. Deposits from the Pay-Ahead Account
(including Investment Earnings) 4,063.96
VIII. Transfers to the Pay-Ahead Account (4,323.94)
IX. Less: Investment Earnings distributions
(a) To Sellers with respect
to the Collection Account (2,513.03)
(b) To Sellers with respect to
the Pay-Ahead Account (18.10)
Total available amount in Collection Account $2,656,330.18
=============
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 0.00
(b) Class A-3 Note Principal Distribution 0.00
Aggregate Class A-3 Note Distribution 0.00000000 0.00
4. (a) Class A-4 Note Interest Distribution 0.00
(b) Class A-4 Note Principal Distribution 0.00
Aggregate Class A-4 Note Distribution 0.00000000 0.00
5. (a) Class A-5 Note Interest Distribution 0.00
(b) Class A-5 Note Principal Distribution 0.00
Aggregate Class A-5 Note Distribution 0.00000000 0.00
6. (a) Class A-6 Note Interest Distribution 121,628.09
(b) Class A-6 Note Principal Distribution 2,222,000.43
Aggregate Class A-6 Note Distribution 98.88727932 2,343,628.52
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 21,006.85
(b) Reimbursement of prior Monthly Advances 37,604.76
Total Servicer Payment 58,611.61
10. Deposits to the Reserve Account 95,982.22
Total Distribution Amount from Collection Account $2,656,330.18
=============
Reserve Account distributions to Sellers
(a) Amounts to the Sellers (Chase USA)
from Excess Collections 39,451.21
(b) Amounts to the Sellers (Chase Manhattan
Bank) from Excess Collections 38,515.60
(c) Distribution from the Reserve Account
to the Sellers(Chase USA) 0.00
(d) Distribution from the Reserve Account
to the Sellers(Chase Manhattan Bank) 0.00
Total Amounts to Sellers
(Chase USA & Chase Manhattan Bank) 77,966.81
=========
Payahead Account distributions to Sellers
(a) Distribution from the Payahead
Account to the Sellers(Chase USA) 9.16
(b) Distribution from the Payahead Account
to the Sellers(Chase Manhattan Bank) 8.94
Total Amounts to Sellers(Chase
USA & Chase Manhattan Bank) 18.10
=========
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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% 0.00
(d) Class A-4 Notes @ 6.250% 0.00
(e) Class A-5 Notes @ 6.420% 0.00
(f) Class A-6 Notes @ 6.500% 121,628.09
Aggregate Interest on Class A Notes 121,628.09
(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 0.00000000 0.00
(d) Class A-4 Notes 0.00000000 0.00
(e) Class A-5 Notes 0.00000000 0.00
(f) Class A-6 Notes 5.13198692 121,628.09
Total Aggregate Interest on Class A Notes 121,628.09
(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 608,546.99
2. Amount of Principal Prepayment Collected 86 1,608,489.45
3. Amount of Liquidated Contract 1 4,963.99
4. Amount of Repurchased Contract 0 0.00
Total Formula Principal Distribution Amount 2,222,000.43
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 0.0000000 0.00
(d) Class A-4 Notes 0.0000000 0.00
(e) Class A-5 Notes 0.0000000 0.00
(f) Class A-6 Notes 0.9474437 22,454,416.37
(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
(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
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 0.00000000 0.00
(d) Class A-4 Notes 0.00000000 0.00
(e) Class A-5 Notes 0.00000000 0.00
(f) Class A-6 Notes 93.75529241 2,222,000.43
(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 0.0000000 0.00
(d) Class A-4 Notes 0.0000000 0.00
(e) Class A-5 Notes 0.0000000 0.00
(f) Class A-6 Notes 0.8536884 20,232,415.94
(g) Class B Notes 1.0000000 10,650,000.00
(h) Class C Notes 1.0000000 17,312,029.25
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POOL DATA
- ---------------------------------------------
Aggregate
No. of Contracts Principal Balance
1. Pool Stated Principal Balance as of 5/31/2002 1,804 48,194,445.19
2. Delinquency Information % Delinquent
------------
(a) 31-59 Days 29 717,252.69 1.488%
(b) 60-89 Days 12 190,808.30 0.396%
(c) 90-119 Days 3 154,450.82 0.320%
(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 1 4,963.99
(b) Net Liquidation Proceeds on any
Liquidated Receivables 34,805.15
---------------
Total Aggregate Net Losses for the
preceding Collection Period -29,841.16
6. Aggregate Losses on all Liquidated
Receivables (Year-To-Date) 662,066.52
7. Aggregate Net Losses on all Liquidated
Receivables (Life-To-Date) 550 4,891,345.37
8. Weighted Average Contract Rate of all
Outstanding Contracts 9.053%
9. Weighted Average Remaining Term to Maturity
of all Outstanding Contracts 109.235
TRIGGER ANALYSIS
- ---------------------------------------------
1. (a) Average 60+ Delinquency Percentage 0.960%
(b) Delinquency Percentage Trigger in effect ? NO
2. (a) Average Net Loss Ratio 0.042%
(b) Net Loss Ratio Trigger in effect ? NO
(c) Net Loss Ratio (using ending Pool Balance) 0.103%
3. (a) Servicer Replacement Percentage -0.043%
(b) Servicer Replacement Trigger in effect ? NO
MISCELLANEOUS
- ---------------------------------------------
1. Monthly Servicing Fees 21,006.85
2. Servicer Advances 33,371.66
3. (a) Opening Balance of the Reserve Account 5,299,449.12
(b) Deposits to the Reserve Account 95,982.22
(c) Investment Earnings in the Reserve Account 7,776.06
(d) Distribution from the Reserve Account (77,966.81)
(e) Ending Balance of the Reserve Account 5,325,240.59
4. Specified Reserve Account Balance 5,325,240.59
5. (a) Opening Balance in the Pay-Ahead Account 8,153.09
(b) Deposits to the Pay-Ahead Account
from the Collection Account 4,323.94
(c) Investment Earnings in the
Pay-Ahead Account 18.10
(d) Transfers from the Pay-Ahead
Account to the Collection Account (4,063.96)
(e) Ending Balance in the Pay-Ahead Account 8,431.17
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