Exhibit 20.1
CHASE MANHATTAN MARINE OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 1/31/2004
Determination Date 2/11/2004
Distribution Date 2/17/2004
I. All Payments on the Contracts 537,854.99
II. All Liquidation Proceeds on the Contracts with
respect to Principal 30,258.95
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 0.00
V. Servicer Monthly Advances 12,113.58
VI. Distribution from the Reserve Account 0.00
VII. Deposits from the Pay-Ahead Account (including
Investment Earnings) 1,479.26
VIII. Transfers to the Pay-Ahead Account (1,553.11)
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 (0.53)
X. Deposits in error 0.00 Total available amount in
Collection Account $ 580,153.14
=============
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 0.00
(b) Class A-6 Note Principal Distribution 0.00
Aggregate Class A-6 Note Distribution 0.00000000 0.00
7. (a) Class B Note Interest Distribution 17,754.83
(b) Class B Note Principal Distribution 375,167.52
Aggregate Class B Note Distribution 36.89411737 392,922.35
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 8,542.30
(b) Reimbursement of prior Monthly Advances 15,522.09
Total Servicer Payment 24,064.39
10. Deposits to the Reserve Account 64,343.57
Total Distribution Amount from Collection Account $ 580,153.14
=============
Reserve Account distributions to Sellers
(a) Amounts to the Sellers (Chase USA) from Excess
Collections 20,524.31
(b) Amounts to the Sellers (Chase Manhattan Bank)
from Excess Collections 20,037.56
(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) 40,561.87
=============
Payahead Account distributions to Sellers
(a) Distribution from the Payahead Account to the
Sellers(Chase USA) 0.27
(b) Distribution from the Payahead Account to the
Sellers(Chase Manhattan Bank) 0.26
Total Amounts to Sellers(Chase USA
& Chase Manhattan Bank) 0.53
=============
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% 0.00
Aggregate Interest on Class A Notes 0.00
(g) Class B Notes @ 6.680% 17,754.83
(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 0.00000000 0.00
Total Aggregate Interest on Class A
Notes 0.00
(g) Class B Notes 1.66712019 17,754.83
(h) Class C Notes 5.70833312 98,822.83
PRINCIPAL
- ---------------------------------------------
No. of Contracts
------------------
1. Amount of Stated Principal Collected 253,790.44
2. Amount of Principal Prepayment Collected 15 117,272.36
3. Amount of Liquidated Contract 2 4,104.72
4. Amount of Repurchased Contract 0 0.00
Total Formula Principal Distribution Amount 375,167.52
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 0.0000000 0.00
(g) Class B Notes 0.2994826 3,189,490.05
(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 0.00000000 0.00
(g) Class B Notes 35.22699718 375,167.52
(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 0.0000000 0.00
(g) Class B Notes 0.2642556 2,814,322.53
(h) Class C Notes 1.0000000 17,312,029.25
POOL DATA
- ---------------------------------------------
Aggregate
Principal
No. of Contracts Balance
------------------ -------------
1. Pool Stated Principal Balance as of 1/31/2004 792 20,126,351.78
2. Delinquency Information % Delinquent
-------------
(a) 31-59 Days 19 519,450.25 2.581%
(b) 60-89 Days 5 23,803.26 0.118%
(c) 90-119 Days 6 144,279.79 0.717%
(d) 120 Days + 0 0.00 0.000%
3. Contracts Repossessed during the Due Period 0 0.00
4. Current Repossession Inventory 1 85,131.70
5. Aggregate Net Losses for the preceding Collection
Period
(a) Aggregate Principal Balance of Liquidated
Receivables 2 4,104.72
(b) Net Liquidation Proceeds on any Liquidated
Receivables 30,258.95
-------------
Total Aggregate Net Losses for the preceding
Collection Period -26,154.23
6. Aggregate Losses on all Liquidated Receivables
(Year-To-Date) -26,154.23
7. Aggregate Net Losses on all Liquidated Receivables
(Life-To-Date) 609 5,339,665.66
8. Weighted Average Contract Rate of all Outstanding
Contracts 8.880%
9. Weighted Average Remaining Term to Maturity of all
Outstanding Contracts 99.880
TRIGGER ANALYSIS
- ---------------------------------------------
1. (a) Average 60+ Delinquency Percentage 1.964%
(b) Delinquency Percentage Trigger in effect ? NO
2. (a) Average Net Loss Ratio -0.009%
(b) Net Loss Ratio Trigger in effect ? NO
(c) Net Loss Ratio (using ending Pool Balance) -0.045%
3. (a) Servicer Replacement Percentage -0.097%
(b) Servicer Replacement Trigger in effect ? NO
MISCELLANEOUS
- ---------------------------------------------
1. Monthly Servicing Fees 8,542.30
2. Servicer Advances 12,113.58
3. (a) Opening Balance of the Reserve Account 5,298,746.54
(b) Deposits to the Reserve Account 64,343.57
(c) Investment Earnings in the Reserve Account 2,712.35
(d) Distribution from the Reserve Account (40,561.87)
(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 2,396.01
(b) Deposits to the Pay-Ahead Account from the Collection Account 1,553.11
(c) Investment Earnings in the Pay-Ahead Account 0.53
(d) Transfers from the Pay-Ahead Account to the Collection Account (1,479.26)
(e) Ending Balance in the Pay-Ahead Account 2,470.39