CHASE MANHATTAN MARINE OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 2/28/2005
Determination Date 3/10/2005
Distribution Date 3/15/2005
I. All Payments on the Contracts 468,505.10
II. All Liquidation Proceeds on the Contracts with respect to Principal 13,835.44
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 0.00
V. Servicer Monthly Advances 8,328.65
VI. Distribution from the Reserve Account 0.00
VII. Deposits from the Pay-Ahead Account (including Investment Earnings) 528.93
VIII. Transfers to the Pay-Ahead Account (664.17)
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 (5.75)
X. Deposits in error 0.00
Total available amount in Collection Account $ 490,528.20
==============
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 77,228.13
(b) Class C Note Principal Distribution 368,198.30
Aggregate Class C Note Distribution 25.72930207 445,426.43
9. Servicer Payment
(a) Servicing Fee 5,637.09
(b) Reimbursement of prior Monthly Advances 12,971.80
Total Servicer Payment 18,608.89
10. Deposits to the Reserve Account 26,492.88
Total Distribution Amount from Collection Account $ 490,528.20
==============
Reserve Account distributions to Sellers
(a) Amounts to the Sellers (Chase USA) from Excess Collections 17,556.84
(b) Amounts to the Sellers (Chase Manhattan Bank) from Excess Collections 17,140.47
(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) 34,697.31
==============
Payahead Account distributions to Sellers
(a) Distribution from the Payahead Account to the Sellers(Chase USA) 2.91
(b) Distribution from the Payahead Account to the Sellers(Chase Manhattan Bank) 2.84
Total Amounts to Sellers(Chase USA & Chase Manhattan Bank) 5.75
==============
Chase MR97A Page 1 of 3
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% 77,228.13
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 4.46095191 77,228.13
PRINCIPAL
- ---------------------------------
No. of Contracts
----------------
1. Amount of Stated Principal Collected 210,426.41
2. Amount of Principal Prepayment Collected 15 157,771.89
3. Amount of Liquidated Contract 0 0.00
4. Amount of Repurchased Contract 0 0.00
Total Formula Principal Distribution Amount 368,198.30
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 0.7814806 13,529,014.91
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 21.26835016 368,198.30
Chase MR97A Page 2 of 3
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 0.7602122 13,160,816.61
POOL DATA
- ---------------------------------
Aggregate
No. of Contracts Principal Balance
---------------- -----------------
1. Pool Stated Principal Balance as of 2/28/2005 459 13,160,816.61
2. Delinquency Information % Delinquent
------------
(a) 31-59 Days 7 257,052.51 1.953%
(b) 60-89 Days 3 60,068.02 0.456%
(c) 90-119 Days 2 26,735.10 0.203%
(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 13,835.44
------------
Total Aggregate Net Losses for the preceding Collection Period -13,835.44
6. Aggregate Losses on all Liquidated Receivables (Year-To-Date) 2,810.34
7. Aggregate Net Losses on all Liquidated Receivables (Life-To-Date) 635 5,368,630.23
8. Weighted Average Contract Rate of all Outstanding Contracts 8.706%
9. Weighted Average Remaining Term to Maturity of all Outstanding Contracts 96.159
TRIGGER ANALYSIS
- ---------------------------------
1. (a) Average 60+ Delinquency Percentage 2.812%
(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) -0.115%
3. (a) Servicer Replacement Percentage -0.051%
(b) Servicer Replacement Trigger in effect ? NO
MISCELLANEOUS
- ---------------------------------
1. Monthly Servicing Fees 5,637.09
2. Servicer Advances 8,328.65
3. (a) Opening Balance of the Reserve Account 5,325,240.59
(b) Deposits to the Reserve Account 26,492.88
(c) Investment Earnings in the Reserve Account 8,204.43
(d) Distribution from the Reserve Account (34,697.31)
(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 2,023.38
(b) Deposits to the Pay-Ahead Account from the Collection Account 664.17
(c) Investment Earnings in the Pay-Ahead Account 5.75
(d) Transfers from the Pay-Ahead Account to the Collection Account (528.93)
(e) Ending Balance in the Pay-Ahead Account 2,164.37
Chase MR97A Page 3 of 3