EXHIBIT 20.1
CHASE MANHATTAN MARINE OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 6/30/2003
Determination Date 7/10/2003
Distribution Date 7/15/2003
I. All Payments on the Contracts 1,517,257.66
II. All Liquidation Proceeds on the Contracts with
respect to Principal 123,619.72
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 0.00
V. Servicer Monthly Advances 16,768.41
VI. Distribution from the Reserve Account 0.00
VII. Deposits from the Pay-Ahead Account
(including Investment Earnings) 1,892.08
VIII. Transfers to the Pay-Ahead Account (744.19)
IX. Less: Investment Earnings distributions
(a) To Sellers with respect to the Collection Account 0.00
(b) To Sellers with respect to the Pay-Ahead Account (0.93)
X. Deposits in error 0.00
Total available amount in Collection Account $1,658,792.75
===============
DISTRIBUTION AMOUNTS Cost per $1000
- --------------------------------------------- --------------
1. (a) Class A-1 Note Interest Distribution 0.00
(b) Class A-1 Note PrincipalDistribution 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 5,088.76
(b) Class A-6 Note Principal Distribution 939,463.95
Aggregate Class A-6 Note Distribution 39.85454473 944,552.71
7. (a) Class B Note Interest Distribution 59,285.00
(b) Class B Note Principal Distribution 457,098.36
Aggregate Class B Note Distribution 48.48670047 516,383.36
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 12,042.29
(b) Reimbursement of prior Monthly Advances 26,467.82
Total Servicer Payment 38,510.11
10. Deposits to the Reserve Account 60,523.74
Total Distribution Amount from Collection Account $1,658,792.75
===============
Reserve Account distributions to Sellers
(a) Amounts to the Sellers (Chase USA)
from Excess Collections 32,264.74
(b) Amounts to the Sellers (Chase Manhattan Bank)
from Excess Collections 31,499.56
(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) 63,764.30
===============
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Payahead Account distributions to Sellers
(a) Distribution from the Payahead Account
to the Sellers (Chase USA) 0.47
(b) Distribution from the Payahead Account to
the Sellers (Chase Manhattan Bank) 0.46
Total Amounts to Sellers
(Chase USA & Chase Manhattan Bank) 0.93
=============
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% 5,088.76
Aggregate Interest on Class A Notes 5,088.76
(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 0.21471561 5,088.76
Total Aggregate Interest
on Class A Notes 5,088.76
(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 361,690.23
2. Amount of Principal Prepayment Collected 62 936,117.06
3. Amount of Liquidated Contract 3 98,755.02
4. Amount of Repurchased Contract 0 0.00
Total Formula Principal Distribution Amount 1,396,562.31
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 0.0396398 939,463.95
(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 39.63982911 939,463.95
(g) Class B Notes 42.92003380 457,098.36
(h) Class C Notes 0.00000000 0.00
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8. Principal Balance after giving effect to Pool Factor
Principal Distribution -----------
(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 0.0000000 0.00
(g) Class B Notes 0.9570800 10,192,901.64
(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 6/30/2003 1,048 27,504,930.89
2. Delinquency Information % Delinquent
------------
(a) 31-59 Days 20 816,417.24 2.968%
(b) 60-89 Days 3 93,250.99 0.339%
(c) 90-119 Days 5 52,883.91 0.192%
(d) 120 Days + 0 0.00 0.000%
3. Contracts Repossessed during the Due Period 0 0.00
4. Current Repossession Inventory 1 26,127.06
5. Aggregate Net Losses for the preceding
Collection Period
(a) Aggregate Principal Balance of
Liquidated Receivables 3 98,755.02
(b) Net Liquidation Proceeds on any
Liquidated Receivables 123,619.72
--------------
Total Aggregate Net Losses for the
preceding Collection Period -24,864.70
6. Aggregate Losses on all Liquidated
Receivables (Year-To-Date) 141,437.08
7. Aggregate Net Losses on all Liquidated
Receivables (Life-To-Date) 590 5,235,872.97
8. Weighted Average Contract Rate of
all Outstanding Contracts 8.941%
9. Weighted Average Remaining Term to Maturity
of all Outstanding Contracts 102.618
TRIGGER ANALYSIS
- ---------------------------------------------
1. (A) AVERAGE 60+ DELINQUENCY PERCENTAGE 1.254%
(B) DELINQUENCY PERCENTAGE TRIGGER IN EFFECT ? NO
2. (A) AVERAGE NET LOSS RATIO -0.017%
(B) NET LOSS RATIO TRIGGER IN EFFECT ? NO
(C) NET LOSS RATIO (USING ENDING POOL BALANCE) -0.065%
3. (A) SERVICER REPLACEMENT PERCENTAGE -0.054%
(B) SERVICER REPLACEMENT TRIGGER IN EFFECT ? NO
MISCELLANEOUS
- ---------------------------------------------
1. Monthly Servicing Fees 12,042.29
2. Servicer Advances 16,768.41
3. (a) Opening Balance of the Reserve Account 5,325,240.59
(b) Deposits to the Reserve Account 60,523.74
(c) Investment Earnings in the
Reserve Account 3,240.56
(d) Distribution from the Reserve Account (63,764.30)
(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 2,870.67
(b) Deposits to the Pay-Ahead Account
from the Collection Account 744.19
(c) Investment Earnings in the
Pay-Ahead Account 0.93
(d) Transfers from the Pay-Ahead Account
to the Collection Account (1,892.08)
(e) Ending Balance in the Pay-Ahead Account 1,723.71
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