Exhibit 20.1
CHASE MANHATTAN MARINE OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 11/30/2002
Determination Date 12/11/2002
Distribution Date 12/16/2002
I. All Payments on the Contracts 2,130,004.35
II. All Liquidation Proceeds on the Contracts with respect to Principal 43,845.46
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 0.52
V. Servicer Monthly Advances 23,548.15
VI. Distribution from the Reserve Account 0.00
VII. Deposits from the Pay-Ahead Account (including Investment Earnings) 2,287.00
VIII. Transfers to the Pay-Ahead Account (1,945.92)
IX. Less: Investment Earnings distributions
(a) To Sellers with respect to the Collection Account (0.52)
(b) To Sellers with respect to the Pay-Ahead Account (2.98)
Total available amount in Collection Account $2,197,736.06
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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 66,178.43
(b) Class A-6 Note Principal Distribution 1,785,832.66
Aggregate Class A-6 Note Distribution 78.14392785 1,852,011.09
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 16,741.49
(b) Reimbursement of prior Monthly Advances 32,472.00
Total Servicer Payment 49,213.49
10. Deposits to the Reserve Account 138,403.65
Total Distribution Amount from Collection Account $2,197,736.06
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Chase MR97A Page 1 of 4
Reserve Account distributions to Sellers
(a) Amounts to the Sellers (Chase USA) from Excess Collections 66,158.92
(b) Amounts to the Sellers (Chase Manhattan Bank) from Excess Collections 64,589.94
(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) 130,748.86
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Payahead Account distributions to Sellers
(a) Distribution from the Payahead Account to the Sellers (Chase USA) 1.51
(b) Distribution from the Payahead Account to the Sellers (Chase Manhattan Bank) 1.47
Total Amounts to Sellers (Chase USA & Chase Manhattan Bank) 2.98
=============
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% 66,178.43
Aggregate Interest on Class A Notes 66,178.43
(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 2.79233882 66,178.43
Total Aggregate Interest on Class A Notes 66,178.43
(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 529,223.44
2. Amount of Principal Prepayment Collected 35 1,238,491.85
3. Amount of Liquidated Contract 1 18,117.37
4. Amount of Repurchased Contract 0 0.00
Total Formula Principal Distribution Amount 1,785,832.66
5. Principal Balance before giving effect to Principal Distribution Pool Factor
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(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 0.5155087 12,217,557.11
(g) Class B Notes 1.0000000 10,650,000.00
(h) Class C Notes 1.0000000 17,312,029.25
Chase MR97A Page 2 of 4
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 75.35158903 1,785,832.66
(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 0.4401571 10,431,724.45
(g) Class B Notes 1.0000000 10,650,000.00
(h) Class C Notes 1.0000000 17,312,029.25
POOL DATA
- ---------------------------------------------
Aggregate
No. of Contracts Principal Balance
---------------- -----------------
1. Pool Stated Principal Balance as of 11/30/2002 1,448 38,393,753.70
2. Delinquency Information % Delinquent
------------
(a) 31-59 Days 19 278,976.30 0.727%
(b) 60-89 Days 5 196,256.23 0.511%
(c) 90-119 Days 6 309,009.12 0.805%
(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 18,117.37
(b) Net Liquidation Proceeds on any Liquidated Receivables 43,845.46
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Total Aggregate Net Losses for the preceding Collection Period -25,728.09
6. Aggregate Losses on all Liquidated Receivables (Year-To-Date) 906,006.37
7. Aggregate Net Losses on all Liquidated Receivables (Life-To-Date) 576 5,123,406.29
8. Weighted Average Contract Rate of all Outstanding Contracts 8.994%
9. Weighted Average Remaining Term to Maturity of all Outstanding Contracts 105.416
Chase MR97A Page 3 of 4
TRIGGER ANALYSIS
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1. (A) AVERAGE 60+ DELINQUENCY PERCENTAGE 1.650%
(B) DELINQUENCY PERCENTAGE TRIGGER IN EFFECT? NO
2. (A) AVERAGE NET LOSS RATIO -0.028%
(B) NET LOSS RATIO TRIGGER IN EFFECT? NO
(C) NET LOSS RATIO (USING ENDING POOL BALANCE) -0.081%
3. (A) SERVICER REPLACEMENT PERCENTAGE -0.037%
(B) SERVICER REPLACEMENT TRIGGER IN EFFECT? NO
MISCELLANEOUS
- ---------------------------------------------
1. Monthly Servicing Fees 16,741.49
2. Servicer Advances 23,548.15
3. (a) Opening Balance of the Reserve Account 5,311,342.38
(b) Deposits to the Reserve Account 138,403.65
(c) Investment Earnings in the Reserve Account 6,243.42
(d) Distribution from the Reserve Account (130,748.86)
(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 4,285.44
(b) Deposits to the Pay-Ahead Account from the Collection Account 1,945.92
(c) Investment Earnings in the Pay-Ahead Account 2.98
(d) Transfers from the Pay-Ahead Account to the Collection Account (2,287.00)
(e) Ending Balance in the Pay-Ahead Account 3,947.34
Chase MR97A Page 4 of 4