CHASE MANHATTAN MARINE OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 1/31/2003
Determination Date 2/12/2003
Distribution Date 2/18/2003
I. All Payments on the Contracts 2,413,208.32
II. All Liquidation Proceeds on the Contracts with respect to Principal 34,504.40
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 0.52
V. Servicer Monthly Advances 29,536.86
VI. Distribution from the Reserve Account 145,396.25
VII. Deposits from the Pay-Ahead Account (including Investment Earnings) 2,966.19
VIII. Transfers to the Pay-Ahead Account (1,512.90)
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 (3.80)
X. Deposits in error 0.00
Total available amount in Collection Account $2,624,095.32
==============
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 49,012.08
(b) Class A-6 Note Principal Distribution 2,351,529.44
Aggregate Class A-6 Note Distribution 101.28867173 2,400,541.52
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 15,421.01
(b) Reimbursement of prior Monthly Advances 50,024.96
Total Servicer Payment 65,445.97
10. Deposits to the Reserve Account 0.00
Total Distribution Amount from Collection Account $2,624,095.32
==============
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Reserve Account distributions to Sellers
(a) Amounts to the Sellers (Chase USA) from Excess Collections 0.00
(b) Amounts to the Sellers (Chase Manhattan Bank) from Excess Collections 0.00
(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) 0.00
=============
Payahead Account distributions to Sellers
(a) Distribution from the Payahead Account to the Sellers(Chase USA) 1.92
(b) Distribution from the Payahead Account to the Sellers(Chase Manhattan Bank) 1.88
Total Amounts to Sellers(Chase USA & Chase Manhattan Bank) 3.80
==============
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% 49,012.08
Aggregate Interest on Class A Notes 49,012.08
(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 2.06802025 49,012.08
Total Aggregate Interest on Class A Notes 49,012.08
(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 441,155.70
2. Amount of Principal Prepayment Collected 49 1,695,487.12
3. Amount of Liquidated Contract 2 214,886.62
4. Amount of Repurchased Contract 0 0.00
Total Formula Principal Distribution Amount 2,351,529.44
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 0.3817883 9,048,383.73
(g) Class B Notes 1.0000000 10,650,000.00
(h) Class C Notes 1.0000000 17,312,029.25
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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 99.22065148 2,351,529.44
(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 0.2825677 6,696,854.29
(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 1/31/2003 1,353 34,658,883.54
2. Delinquency Information % Delinquent
(a) 31-59 Days 23 749,786.65 2.163%
(b) 60-89 Days 5 104,999.60 0.303%
(c) 90-119 Days 3 187,544.67 0.541%
(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 2 214,886.62
(b) Net Liquidation Proceeds on any Liquidated Receivables 34,504.40
Total Aggregate Net Losses for the preceding Collection Period ---------------
180,382.22
6. Aggregate Losses on all Liquidated Receivables (Year-To-Date) 180,382.22
7. Aggregate Net Losses on all Liquidated Receivables (Life-To-Date) 579 5,274,818.11
8. Weighted Average Contract Rate of all Outstanding Contracts 8.983%
9. Weighted Average Remaining Term to Maturity of all Outstanding Contracts 104.405
TRIGGER ANALYSIS
- ---------------------------------------------
1. (a) Average 60+ Delinquency Percentage 1.896%
(b) Delinquency Percentage Trigger in effect ? NO
2. (a) Average Net Loss Ratio 0.036%
(b) Net Loss Ratio Trigger in effect ? NO
(c) Net Loss Ratio (using ending Pool Balance) 0.125%
3. (a) Servicer Replacement Percentage 0.388%
(b) Servicer Replacement Trigger in effect ? NO
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MISCELLANEOUS
- ---------------------------------------------
1. Monthly Servicing Fees 15,421.01
2. Servicer Advances 29,536.86
3. (a) Opening Balance of the Reserve Account 5,325,240.59
(b) Deposits to the Reserve Account 0.00
(c) Investment Earnings in the Reserve Account 4,313.19
(d) Distribution from the Reserve Account (145,396.25)
(e) Ending Balance of the Reserve Account 5,184,157.53
4. Specified Reserve Account Balance 5,325,240.59
5. (a) Opening Balance in the Pay-Ahead Account 4,840.71
(b) Deposits to the Pay-Ahead Account from the Collection Account 1,512.90
(c) Investment Earnings in the Pay-Ahead Account 3.80
(d) Transfers from the Pay-Ahead Account to the Collection Account (2,966.19)
(e) Ending Balance in the Pay-Ahead Account 3,391.22
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