Exhibit 99.1
CHASE MANHATTAN MARINE OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 11/30/2004
Determination Date 12/10/2004
Distribution Date 12/15/2004
I. All Payments on the Contracts 565,248.18
II. All Liquidation Proceeds on the Contracts with respect to Principal 71,458.23
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 0.00
V. Servicer Monthly Advances 13,959.41
VI. Distribution from the Reserve Account 3,478.64
VII. Deposits from the Pay-Ahead Account (including Investment Earnings) 368.70
VIII. Transfers to the Pay-Ahead Account (628.19)
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 (2.01)
X. Deposits in error 0.00
Total available amount in Collection Account $653,882.96
=============
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 0.00
(b) Class B Note Principal Distribution 0.00
Aggregate Class B Note Distribution 0.00000000 0.00
8. (a) Class C Note Interest Distribution 84,662.38
(b) Class C Note Principal Distribution 546,651.01
Aggregate Class C Note Distribution 36.46674696 631,313.39
9. Servicer Payment
(a) Servicing Fee 6,179.74
(b) Reimbursement of prior Monthly Advances 16,389.83
Total Servicer Payment 22,569.57
10. Deposits to the Reserve Account 0.00
TOTAL DISTRIBUTION AMOUNT FROM COLLECTION ACCOUNT $653,882.96
============
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RESERVE ACCOUNT DISTRIBUTIONS TO SELLERS
(a) Amounts to the Sellers (Chase USA) from Excess Collections 1,467.86
(b) Amounts to the Sellers (Chase Manhattan Bank) from Excess Collections 1,350.56
(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) 2,818.42
============
PAYAHEAD ACCOUNT DISTRIBUTIONS TO SELLERS
(a) Distribution from the Payahead Account to the Sellers(Chase USA) 1.02
(b) Distribution from the Payahead Account to the Sellers(Chase Manhattan Bank) 0.99
TOTAL AMOUNTS TO SELLERS(CHASE USA & CHASE MANHATTAN BANK) 2.01
============
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% 0.00
(h) Class C Notes @ 6.850% 84,662.38
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 0.00000000 0.00
(h) Class C Notes 4.89037875 84,662.38
PRINCIPAL
- ---------------------------------------------
No. of Contracts
----------------
1. Amount of Stated Principal Collected 175,767.02
2. Amount of Principal Prepayment Collected 17 286,276.49
3. Amount of Liquidated Contract 3 84,607.50
4. Amount of Repurchased Contract 0 0.00
Total Formula Principal Distribution Amount 546,651.01
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 0.0000000 0.00
(h) Class C Notes 0.8567087 14,831,366.12
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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 0.00000000 0.00
(g) Class B Notes 0.00000000 0.00
(h) Class C Notes 31.57636821 546,651.01
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 0.0000000 0.00
(h) Class C Notes 0.8251323 14,284,715.11
POOL DATA
- ---------------------------------------------
Aggregate
No. of Contracts Principal Balance
---------------- -----------------
1. Pool Stated Principal Balance as of 11/30/2004 509 14,284,715.11
2. Delinquency Information % Delinquent
------------
(a) 31-59 Days 10 102,745.70 0.719%
(b) 60-89 Days 3 35,868.22 0.251%
(c) 90-119 Days 1 16,569.01 0.116%
(d) 120 Days + 0 0.00 0.000%
3. Contracts Repossessed during the Due Period 0 0.00
4. Current Repossession Inventory 1 309,805.96
5. Aggregate Net Losses for the preceding Collection Period
(a) Aggregate Principal Balance of Liquidated Receivables 3 84,607.50
(b) Net Liquidation Proceeds on any Liquidated Receivables 71,458.23
------------------
Total Aggregate Net Losses for the preceding Collection Period 13,149.27
6. Aggregate Losses on all Liquidated Receivables (Year-To-Date) 49,311.75
7. Aggregate Net Losses on all Liquidated Receivables (Life-To-Date) 635 5,415,131.64
8. Weighted Average Contract Rate of all Outstanding Contracts 8.749%
9. Weighted Average Remaining Term to Maturity of all Outstanding Contracts 97.907
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TRIGGER ANALYSIS
- ---------------------------------------------
1. (a) Average 60+ Delinquency Percentage 4.222%
(b) Delinquency Percentage Trigger in effect ? YES
2. (a) Average Net Loss Ratio 0.005%
(b) Net Loss Ratio Trigger in effect ? NO
(c) Net Loss Ratio (using ending Pool Balance) 0.034%
3. (a) Servicer Replacement Percentage 0.049%
(b) Servicer Replacement Trigger in effect ? NO
MISCELLANEOUS
- ---------------------------------------------
1. Monthly Servicing Fees 6,179.74
2. Servicer Advances 13,959.41
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 6,297.06
(d) Distribution from the Reserve Account (6,297.06)
(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 1,607.06
(b) Deposits to the Pay-Ahead Account from the Collection Account 628.19
(c) Investment Earnings in the Pay-Ahead Account 2.01
(d) Transfers from the Pay-Ahead Account to the Collection Account (368.70)
(e) Ending Balance in the Pay-Ahead Account 1,868.56
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