CHASE MANHATTAN MARINE OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 1/31/2005
Determination Date 2/10/2005
Distribution Date 2/15/2005
I. All Payments on the Contracts 359,911.33
II. All Liquidation Proceeds on the Contracts with respect to Principal 22,874.36
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 2.00
V. Servicer Monthly Advances 11,084.27
VI. Distribution from the Reserve Account 0.00
VII. Deposits from the Pay-Ahead Account (including Investment Earnings) 528.83
VIII. Transfers to the Pay-Ahead Account (623.26)
IX. Less: Investment Earnings distributions
(a) To Sellers with respect to the Collection Account (2.00)
(b) To Sellers with respect to the Pay-Ahead Account (5.65)
X. Deposits in error 0.00
Total available amount in Collection Account $393,769.88
===========
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 78,705.70
(b) Class C Note Principal Distribution 258,845.43
Aggregate Class C Note Distribution 19.49806837 337,551.13
9. Servicer Payment
(a) Servicing Fee 5,744.94
(b) Reimbursement of prior Monthly Advances 13,584.42
Total Servicer Payment 19,329.36
10. Deposits to the Reserve Account 36,889.39
TOTAL DISTRIBUTION AMOUNT FROM COLLECTION ACCOUNT $393,769.88
===========
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) 2.86
(b) Distribution from the Payahead Account to the Sellers(Chase Manhattan Bank) 2.79
TOTAL AMOUNTS TO SELLERS (CHASE USA & CHASE MANHATTAN BANK) 5.65
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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% 78,705.70
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 4.54630124 78,705.70
PRINCIPAL
- --------------------------------
No. of Contracts
----------------
1. Amount of Stated Principal Collected 174,838.99
2. Amount of Principal Prepayment Collected 20 84,006.44
3. Amount of Liquidated Contract 0 0.00
4. Amount of Repurchased Contract 0 0.00
Total Formula Principal Distribution Amount 258,845.43
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 0.7964324 13,787,860.34
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 14.95176714 258,845.43
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 0.7814806 13,529,014.91
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POOL DATA
- --------------------------------
Aggregate
No. of Contracts Principal Balance
---------------- -----------------
1. Pool Stated Principal Balance as of 1/31/2005 474 13,529,014.91
2. Delinquency Information % Delinquent
------------
(a) 31-59 Days 9 963,316.68 7.120%
(b) 60-89 Days 6 112,885.67 0.834%
(c) 90-119 Days 1 3,343.36 0.025%
(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 0 0.00
(b) Net Liquidation Proceeds on any Liquidated Receivables 22,874.36
----------
Total Aggregate Net Losses for the preceding Collection Period -22,874.36
6. Aggregate Losses on all Liquidated Receivables (Year-To-Date) 16,645.78
7. Aggregate Net Losses on all Liquidated Receivables (Life-To-Date) 635 5,382,465.67
8. Weighted Average Contract Rate of all Outstanding Contracts 8.725%
9. Weighted Average Remaining Term to Maturity of all Outstanding Contracts 96.881
TRIGGER ANALYSIS
- --------------------------------
1. (a) Average 60+ Delinquency Percentage 2.653%
(b) Delinquency Percentage Trigger in effect ? NO
2. (a) Average Net Loss Ratio -0.007%
(b) Net Loss Ratio Trigger in effect ? NO
(c) Net Loss Ratio (using ending Pool Balance) -0.049%
3. (a) Servicer Replacement Percentage -0.085%
(b) Servicer Replacement Trigger in effect ? NO
MISCELLANEOUS
- --------------------------------
1. Monthly Servicing Fees 5,744.94
2. Servicer Advances 11,084.27
3. (a) Opening Balance of the Reserve Account 5,325,240.59
(b) Deposits to the Reserve Account 36,889.39
(c) Investment Earnings in the Reserve Account 8,262.35
(d) Distribution from the Reserve Account (45,151.74)
(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 1,923.30
(b) Deposits to the Pay-Ahead Account from the Collection Account 623.26
(c) Investment Earnings in the Pay-Ahead Account 5.65
(d) Transfers from the Pay-Ahead Account to the Collection Account (528.83)
(e) Ending Balance in the Pay-Ahead Account 2,023.38
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