8-K 1 doc1.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): January 11, 2002 NATIONSCREDIT GRANTOR TRUST 1997-2 ---------------------------------- (Exact name of registrant as specified in its charter) Delaware 333-22327 75-2655744 -------- --------- ------------------- (State or other (Commission (I.R.S. Employer jurisdiction of File Number) Identification Number) incorporation) 1355 Windward Concourse Alpharetta, Georgia 30005 (Address of principal executive offices) ---------------------------------------- (Registrant's telephone number, including area code): (678) 339-9343 Item 5. Other Events ------------- This Current Report on Form 8-K is being filed to file a copy of the Certificateholders Statements relating to the Collection Period ending December 31, 2001. Capitalized terms not defined herein have the meanings assigned in the Pooling and Servicing Agreement (with Standard Terms and Conditions attached thereto) dated as of September 30, 1997 among NationsCredit Securitization Corporation, NationsCredit Commercial Corporation of America and Bankers Trust Company, as Trustee, which was previously filed as an exhibit to the Current Report on Form 8-K filed on behalf of the Trust by NationsCredit Commercial Corporation of America on October 10, 1997. Item 7. Financial Statement, Pro Forma Financial Statements and Exhibits ---------------------------------------------------------------- (c) Exhibits. Exhibit No. ------------ 19.1 Certificateholders Statements SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NATIONSCREDIT GRANTOR TRUST 1997-2 ---------------------------------- (Registrant) By: NationsCredit Commercial Corporation of America, as Servicer of NationsCredit Grantor Trust 1997-2 Dated: January 11, 2002 ------------------ By: /s/ Rhonda Nantz ------------------- Name: Rhonda Nantz Title: Vice President (Duly Authorized Officer) EXHIBIT INDEX --------------- Exhibit Number Description ------- ----------- 19.1 Certificateholders Statements

EXHIBIT 19.1 STATEMENT TO MARINE CERTIFICATEHOLDERS NATIONSCREDIT GRANTOR TRUST 1997-2 Pursuant to the Pooling and Servicing Agreement, dated as of September 30, 1997 among NationsCredit Securitization Corporation (as "Seller"), NationsCredit Corporation of America (as"Servicer") and Bankers Trust Company (as "Trustee" and "Collateral Agent"), the Servicer is required to prepare certain information each month regarding distribution to Marine Certificateholders and the performance of the Trust. The information with respect to the applicable Distribution Date is set forth below. Month . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~Nov~~Dec-01 Collection Period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 01-~~Nov~~Dec-01 Determination Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11-~~Dec~~Jan-0102 Deposit Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14-~~Dec~~Jan-0102 Distribution Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1715-~~Dec~~Jan-0102 MARINE POOL BALANCE Marine Pool Balance on the close of the last day of the Collection Period (Record Date) 2827,~~013~~180,~~518~~606.5096 Marine Certificate Factor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2322.~~1892847~~4998096% Marine Ending Certificate Balance (per $1,000 certificate). . . . . . . . . . . . . . . ~~231~~225.8900 Liquidation Proceeds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3336,~~024~~002.2637 Purchase Amounts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 AMOUNTS DISTRIBUTED ON THE DISTRIBUTION DATE (PER $1,000 CERTIFICATE) Interest Payments: Monthly Interest Payment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.2723 Carry-Over Monthly Interest Payment . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 -------------- TOTAL MARINE INTEREST PAYMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.2723 ============== Marine Principal Payments: Monthly Marine Principal Payment. . . . . . . . . . . . . . . . . . . . . . . . . . . . 76.4889 Carry-Over Monthly Marine Principal Payment . . . . . . . . . . . . . . . . . . . . . . 0.00 -------------- TOTAL MARINE PRINCIPAL PAYMENT. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76.4889 ============== Marine Servicing Fee: Marine Servicing Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.0014 Carry-Over Monthly Marine Servicing Fee . . . . . . . . . . . . . . . . . . . . . . . . 0.0015 -------------- TOTAL MARINE SERVICING FEE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.0029 ==============

STATEMENT TO RV CERTIFICATEHOLDERS NATIONSCREDIT GRANTOR TRUST 1997-2 Pursuant to the Pooling and Servicing Agreement, dated as of September 30, 1997 among NationsCredit Securitization Corporation (as "Seller"), NationsCredit Corporation of America (as"Servicer") and Bankers Trust Company (as "Trustee" and "Collateral Agent"), the Servicer is required to prepare certain information each month regarding distribution to RV Certificateholders and the performance of the Trust. The information with respect to the applicable Distribution Date is set forth below. Month . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~Nov~~Dec-01 Collection Period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1112/01/2001 Determination Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1201/11/~~2001~~2002 Deposit Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1201/14/~~2001~~2002 Distribution Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1201/1715/~~2001~~2002 RV POOL BALANCE RV Pool Balance on the close of the last day of the Collection Period (Record Date) 109,~~191~~856,~~238~~816.6634 RV Certificate Factor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2120.~~0621377~~3709902% RV Ending Certificate Balance (per $1,000 certificate). . . . . . . . . . . . . . . ~~210~~203.6271 Liquidation Proceeds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 262,~~894~~044.7500 Purchase Amounts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 AMOUNTS DISTRIBUTED ON THE DISTRIBUTION DATE (PER $1,000 CERTIFICATE) Interest Payments: Monthly Interest Payment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.1210 Carry-Over Monthly Interest Payment . . . . . . . . . . . . . . . . . . . . . . . . 0.00 -------------- TOTAL RV INTEREST PAYMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.1210 ============== RV Principal Payments: Monthly RV Principal Payment. . . . . . . . . . . . . . . . . . . . . . . . . . . . 56.3791 Carry-Over Monthly RV Principal Payment . . . . . . . . . . . . . . . . . . . . . . 0.00 -------------- TOTAL RV PRINCIPAL PAYMENT. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56.3791 ============== RV Servicing Fee: RV Servicing Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.13 Carry-Over Monthly RV Servicing Fee . . . . . . . . . . . . . . . . . . . . . . . . 0.2900 -------------- TOTAL RV SERVICING FEE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.4213 ==============

MONTHLY MARINE SERVICERS CERTIFICATE NATIONSCREDIT GRANTOR TRUST 1997 - 2 Pursuant to the Pooling and Servicing Agreement, dated as of September 30, 1997 among NationsCredit Securitization Corporation (as "Depositor"), NationsCredit Corporation of America (as"Servicer") and Bankers Trust Company (as "Trustee" and "Collateral Agent"), the Servicer is required to prepare certain information each month regarding distribution to Marine Certificateholders and the performance of the Trust. The information with respect to the applicable Distribution Date is set forth below. Month. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~Nov~~Dec-01 Collection Period. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 01-~~Nov~~Dec-01 Determination Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11-~~Dec~~Jan-0102 Deposit Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14-~~Dec~~Jan-0102 Distribution Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1715-~~Dec~~Jan-0102 MARINE POOL BALANCE Marine Pool Balance on the close of the last day of the preceding Collection Period . . . 28,~~916~~013,~~895~~518.2350 Marine Principal Collections. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~763~~741,~~425~~370.9588 Purchase Amounts with respect to RV Receivables allocable to Principal. . . . . . . . . . 0.00 Defaulted Marine Receivables. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~139~~91,~~950~~540.7866 Marine Pool Balance on the close of the last day of the Collection Period . . . . . . . . 2827,~~013~~180,~~518~~606.5096 Original RV Pool Balance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120,803,719.92 Marine Pool Factor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2322.~~1892847~~4998096% Preference Amounts with respect to Marine Receivables . . . . . . . . . . . . . . . . . . - Marine Pass-Through Rate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.3500% Marine Servicing Fee Rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.7500% MARINE AVAILABLE FUNDS Marine Collections allocable to interest. . . . . . . . . . . . . . . . . . . . . . . . . ~~259~~241,~~586~~624.4327 Purchase Amounts with respect to Marine Receivables allocable to interest . . . . . . . . 0.00 Liquidation Proceeds with respect to Marine Receivables . . . . . . . . . . . . . . . . . 3336,~~024~~002.2637 Marine Collections allocable to principal . . . . . . . . . . . . . . . . . . . . . . . . ~~763~~741,~~425~~370.9588 Purchase Amounts with respect to Marine Receivables allocable to principal. . . . . . . . 0.00 Other Marine Available Funds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 --------------- TOTAL MARINE AVAILABLE FUNDS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,~~056~~018,~~036~~997.6452 =============== MARINE INTEREST PAYMENT Monthly Marine Interest Payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~153~~148,~~018~~238.5720 Carry-Over Monthly Marine Interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 --------------- TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~153~~148,~~018~~238.5720 =============== MARINE PRINCIPAL PAYMENT Monthly Marine Principal Payment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~903~~832,~~376~~911.7354 Carry-Over Monthly Marine Principal . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 --------------- TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~903~~832,~~376~~911.7354 =============== MARINE SERVCING FEE Servcing Marine Fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1817,~~073~~508.0645 ~~--------------~~ Carry-Over Monthly Marine Servcing Fee. . . . . . . . . . . . . . . . . . . . . . . . . . 018,073.0006 --------------- TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1835,~~073~~581.0651 =============== MARINE RESERVE ACCOUNT CROSS SUPPORT Marine Reserve Account Cross Collateral Withdrawal Amounts from prior Distribution Dates. 0.00 Marine Reserve Account Cross Collateral Withdrawal Amounts. . . . . . . . . . . . . . . . 0.00 Distribution to reimburse Marine Reserve Account Cross Collateral Withdrawal Amounts. . . 0.00 --------------- TOTAL OWED TO REIMBURSE MARINE CROSS COLLATERAL WITHDRAWAL ACCOUNT. . . . . . . . . . . . 0.00 =============== DEPOSIT TO MARINE CERTIFICATE ACCOUNT Marine Available Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,~~056~~018,~~036~~997.6452 Marine Reserve Account Withdrawal Deposit. . . . . . . . . . . . . . . . . . . . . . . . ~~358~~0.6600 Marine Reserve Account Cross Collateral Withdrawal Amount. . . . . . . . . . . . . . . . 0.00 Surety Bond Drawing Deposit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 --------------- TOTAL DEPOSIT TO THE MARINE CERTIFICATE ACCOUNT. . . . . . . . . . . . . . . . . . . . . 1,~~056~~018,~~395~~997.3052 =============== DISTRIBUTIONS FROM THE MARINE CERTIFICATE ACCOUNT Monthly Marine Interest Payment and any Carry-Over Monthly Marine Interest . . . . . . . ~~153~~148,~~018~~238.5720 Monthly Marine Principal Payment and any Carry-Over Monthly Marine Principal . . . . . . ~~903~~832,~~376~~911.7354 Marine Servicing Fee and any Carry-Over Marine Servicing Fee . . . . . . . . . . . . . . 035,581.0051 Distributions to the Surety Bond Provider. . . . . . . . . . . . . . . . . . . . . . . . 02,266.0027 Shortfall in RV Certificate Account. . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 Distributions to shortfall in RV Certificate Account . . . . . . . . . . . . . . . . . . 0.00 Distribution to reimburse RV Reserve Account Cross Collateral Withdrawal Amounts . . . . 0.00 Distribution to the RV Reserve Account . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 Distribution to the RV Reserve Account . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 Distributions to the Depositor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 Carry-Over Monthly Marine Interest to the next Distribution Date . . . . . . . . . . . . 0.00 Carry-Over Monthly Marine Principal to the next Distributions Date . . . . . . . . . . . 0.00 Carry-Over Monthly Marine Servicing Fee to the next Distribution Date. . . . . . . . . . ~~18,073~~0.0600 MARINE RESERVE ACCOUNT Marine Reserve Account Balance as of the end of the preceding Collection Period. . . . . ~~966~~967,~~429~~719.7678 Earnings from investments on the Marine Reserve Account. . . . . . . . . . . . . . . . . 1,~~648~~611.6886 Marine Reserve Account Withdrawals . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~358~~0.6600 Marine Reserve Account Cross Collateral Withdrawal Amounts . . . . . . . . . . . . . . . 0.00 Deposits to the Marine Reserve Account . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 Reimbursement of Marine Reserve Account Cross Collateral Withdrawal Amounts. . . . . . . 0.00 Deposits to Marine Reserve Account from RV Available Funds . . . . . . . . . . . . . . . 0.00 --------------- MARINE RESERVE ACCOUNT BALANCE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~967~~969,~~719~~331.7864 =============== Distributions of any excess amounts on deposit in the Marine Reserve Account . . . . . . 02,901.0088 ENDING MARINE RESERVE ACCOUNT BALANCE. . . . . . . . . . . . . . . . . . . . . . . . . . ~~967~~966,~~719~~429.7876 =============== Marine Reserve Account Balance as a % of the Marine Pool Balance . . . . . . . . . . . . ~~100~~3.~~0000~~5556% Specified Marine Reserve Account Requirement . . . . . . . . . . . . . . . . . . . . . . 28966,~~013,518~~429.5076 Amount needed to fully fund Marine Reserve Account . . . . . . . . . . . . . . . . . . . ~~27,045,798~~0.7200 SURETY BOND Outstanding Reimbursement Obligations at the end of the preceding Collection Period . . . 02,891.0069 Preference Amounts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 Surety Drawing Amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 Surety Bond Fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,~~891~~801.6935 Interest on Outstanding Reimbursement Obligations at the end of the preceding collection. 012.0065 Amounts due to Surety Bond Provider . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,~~891~~705.69 Distributions made to the Surety Bond Provider. . . . . . . . . . . . . . . . . . . . . . 02,266.0027 Remaining Amounts Owed to the Surety Bond Provider. . . . . . . . . . . . . . . . . . . . 23,~~891~~439.6942 NET CREDIT LOSS RATIO Net Credit Losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~106~~55,~~926~~538.5229 Average Net Credit Loss Ratio - Annualized. . . . . . . . . . . . . . . . . . . . . . . . 3.1164% DELINQUENCY ANALYSIS Number of Loans 30 to 59 days past due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~114~~124.00 60 to 89 days past due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4038.00 90 or more days past due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2429.00 --------------- TOTAL. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~178~~191.00 =============== Principal Balance 30 to 59 days past due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,~~150~~267,~~214~~188.7713 60 to 89 days past due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~402~~340,~~838~~504.0555 90 or more days past due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~249~~310,~~043~~431.5212 --------------- TOTAL. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,~~802~~918,~~096~~123.3480 =============== Delinquency Ratio - 60+ Day Delinquent Accounts For the current Collection Period. . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.~~3270~~3949% For the preceding Collection Period. . . . . . . . . . . . . . . . . . . . . . . . . . . 2.~~2827~~3270% For the second preceding Collection Period . . . . . . . . . . . . . . . . . . . . . . . 2.~~5873~~2827% For the third preceding Collection Period. . . . . . . . . . . . . . . . . . . . . . . . 2.~~6703~~5873% Average 3 month 60 Day + Delinquency Ratio . . . . . . . . . . . . . . . . . . . . . . . 2.~~3990~~3349% Average 4 month 60 Day + Delinquency Ratio . . . . . . . . . . . . . . . . . . . . . . . 2.~~4668~~3980% REPOSSESSION ANALYSIS Current Balance of Contracts where Repossession Occurred in the Current Month. . . . . . 6790,~~706~~179.5137 Number of Contracts where Repossession Occurred in the Current Month . . . . . . . . . . 57.00 WEIGHTED AVERAGE COMPUTATIONS-MARINE CONTRACTS Weighted Average Coupon. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.~~0689~~0650% Weighted Average Original Term (months). . . . . . . . . . . . . . . . . . . . . . . . . 128.71 Weighted Average Remaining Term (months) . . . . . . . . . . . . . . . . . . . . . . . . 76.8243 Number of Outstanding Accounts-End of Period . . . . . . . . . . . . . . . . . . . . . . 3,~~553~~507.00 CASH SETTLEMENT FOR THE TRUSTEE Available Funds in the Collection Account. . . . . . . . . . . . . . . . . . . . . . . . . 1,~~056~~018,~~036~~997.6452 Servicing Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 035,581.0051 Marine Interest allocable to the Seller's Certificate. . . . . . . . . . . . . . . . . . . 0.9188 Marine Principal amount allocable to the Seller's Certificate. . . . . . . . . . . . . . . 54.3896 Wire Funds to the Surety Bond Provider . . . . . . . . . . . . . . . . . . . . . . . . . . 02,266.0027 --------------- NET DEPOSIT FROM COLLECTION ACCOUNT TO THE CERTIFICATE ACCOUNT . . . . . . . . . . . . . . 1981,~~056,030~~143.3590 =============== Reserve Account deposit to Certificate Account . . . . . . . . . . . . . . . . . . . . . . ~~358~~0.6600 RV Reserve Account Cross Collateral Amount . . . . . . . . . . . . . . . . . . . . . . . . 0.00 Surety Bond deposit to Certificate Account . . . . . . . . . . . . . . . . . . . . . . . . 0.00 --------------- TOTAL DEPOSIT TO THE CERTIFICATE ACCOUNT . . . . . . . . . . . . . . . . . . . . . . . . . 1981,~~056,389~~143.0190 =============== Wire Funds to the Marine Certificateholders - Interest Amounts . . . . . . . . . . . . . . ~~153~~148,~~017~~237.6632 --------------- WIRE FUNDS TO THE MARINE CERTIFICATEHOLDERS - PRINCIPAL AMOUNTS. . . . . . . . . . . . . . ~~903~~832,~~371~~906.3558 =============== Deposit Funds into the Marine Reserve Account. . . . . . . . . . . . . . . . . . . . . . . 0.00 Deposit Funds into the RV Reserve Account. . . . . . . . . . . . . . . . . . . . . . . . . 0.00 Wire Funds to NationsCredit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

MONTHLY RV SERVICERS CERTIFICATE NATIONSCREDIT GRANTOR TRUST 1997 - 2 Pursuant to the Pooling and Servicing Agreement, dated as of September 30, 1997 among NationsCredit Securitization Corporation (as "Depositor"), NationsCredit Corporation of America (as"Servicer") and Bankers Trust Company (as "Trustee" and "Collateral Agent"), the Servicer is required to prepare certain information each month regarding distribution to RV Certificateholders and the performance of the Trust. The information with respect to the applicable Distribution Date is set forth below. Month. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~Nov~~Dec-01 Collection Period. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 01-~~Nov~~Dec-01 Determination Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11-~~Dec~~Jan-0102 Deposit Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14-~~Dec~~Jan-0102 Distribution Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1715-~~Dec~~Jan-0102 RV POOL BALANCE RV Pool Balance on the close of the last day of the preceding Collection Period . . . . . 10,~~450~~191,~~857~~238.4666 RV Principal Collections. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~256~~313,~~210~~065.0401 Purchase Amounts with respect to RV Receivables allocable to Principal. . . . . . . . . . 0.00 Defaulted RV Receivables. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 321,~~408~~357.7631 RV Pool Balance on the close of the last day of the Collection Period . . . . . . . . . . 109,~~191~~856,~~238~~816.6634 Original RV Pool Balance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48,386,535.24 RV Pool Factor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2120.~~0621377~~3709902% Preference Amounts with respect to RV Receivables . . . . . . . . . . . . . . . . . . . . - RV Pass-Through Rate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.2500% RV Servicing Fee Rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.7500% RV AVAILABLE FUNDS RV Collections allocable to interest. . . . . . . . . . . . . . . . . . . . . . . . . . . 9291,~~497~~157.7012 Purchase Amounts with respect to RV Receivables allocable to interest . . . . . . . . . . 0.00 Liquidation Proceeds with respect to RV Receivables . . . . . . . . . . . . . . . . . . . 262,~~894~~044.7500 RV Collections allocable to principal . . . . . . . . . . . . . . . . . . . . . . . . . . ~~256~~313,~~210~~065.0401 Purchase Amounts with respect to RV Receivables allocable to principal. . . . . . . . . . 0.00 Other RV Available Funds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 -------------- TOTAL RV AVAILABLE FUNDS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~375~~406,~~602~~266.4913 ============== RV INTEREST PAYMENT Monthly RV Interest Payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5453,~~431~~079.5537 Carry-Over Monthly RV Interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 -------------- TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5453,~~431~~079.5537 ============== RV PRINCIPAL PAYMENT Monthly RV Principal Payment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~259~~334,~~618~~422.8032 Carry-Over Monthly RV Principal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 -------------- TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~259~~334,~~618~~422.8032 ============== RV SERVICING FEE Servicing RV Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,~~531~~369.7952 Carry-Over Monthly RV Servicing Fee . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~13,952~~0.9300 -------------- TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 206,~~484~~369.7252 ============== RV RESERVE ACCOUNT CROSS SUPPORT RV Reserve Account Cross Collateral Withdrawal Amounts from prior Distribution Dates. . . 0.00 RV Reserve Account Cross Collateral Withdrawal Amounts. . . . . . . . . . . . . . . . . . 0.00 Distribution to reimburse RV Reserve Account Cross Collateral Withdrawal Amounts. . . . . 0.00 -------------- TOTAL OWED TO REIMBURSE RV CROSS COLLATERAL WITHDRAWAL ACCOUNT. . . . . . . . . . . . . . 0.00 ============== DEPOSIT TO MARINE CERTIFICATE ACCOUNT Marine Available Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~375~~406,~~602~~266.4913 Marine Reserve Account Withdrawal Deposit. . . . . . . . . . . . . . . . . . . . . . . . 0.00 RV Reserve Account Cross Collateral Withdrawal Amount. . . . . . . . . . . . . . . . . . 0.00 Surety Bond Drawing Deposit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 -------------- TOTAL DEPOSIT TO THE MARINE CERTIFICATE ACCOUNT. . . . . . . . . . . . . . . . . . . . . ~~375~~406,~~602~~266.4913 ============== DISTRIBUTIONS FROM THE RV CERTIFICATE ACCOUNT Monthly RV Interest Payment and any Carry-Over Monthly RV Interest . . . . . . . . . . . 5453,~~431~~079.5537 Monthly RV Principal Payment and any Carry-Over Monthly RV Principal . . . . . . . . . . ~~259~~334,~~618~~422.8032 RV Servicing Fee and any Carry-Over RV Servicing Fee . . . . . . . . . . . . . . . . . . 206,~~484~~369.7252 Distributions to the Surety Bond Provider. . . . . . . . . . . . . . . . . . . . . . . . 31,~~293~~019.5112 Shortfall in Marine Certificate Account. . . . . . . . . . . . . . . . . . . . . . . . . 0.00 Distributions to shortfall in Marine Certificate Account . . . . . . . . . . . . . . . . 0.00 Distribution to reimburse Marine Reserve Account Cross Collateral Withdrawal Amounts . . 0.00 Distribution to the RV Reserve Account . . . . . . . . . . . . . . . . . . . . . . . . . ~~37,773~~0.9100 Distribution to the Marine Reserve Account . . . . . . . . . . . . . . . . . . . . . . . 0.00 Distributions to the Depositor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 011,375.0080 Carry-Over Monthly RV Interest to the next Distribution Date . . . . . . . . . . . . . . 0.00 Carry-Over Monthly RV Principal to the next Distributions Date . . . . . . . . . . . . . 0.00 Carry-Over Monthly RV Servicing Fee to the next Distribution Date. . . . . . . . . . . . 0.00 RV RESERVE ACCOUNT RV Reserve Account Balance as of the end of the preceding Collection Period. . . . . . . ~~694~~733,~~865~~818.9414 Earnings from investments on the RV Reserve Account. . . . . . . . . . . . . . . . . . . 1,~~178~~189.2920 RV Reserve Account Withdrawals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 RV Reserve Account Cross Collateral Withdrawal Amounts . . . . . . . . . . . . . . . . . 0.00 Deposits to the RV Reserve Account . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~37,773~~0.9100 Reimbursement of RV Reserve Account Cross Collateral Withdrawal Amounts. . . . . . . . . 0.00 Deposits to RV Reserve Account from RV Available Funds . . . . . . . . . . . . . . . . . 0.00 -------------- RV RESERVE ACCOUNT BALANCE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~733~~735,~~818~~007.1434 ============== Distributions of any excess amounts on deposit in the RV Reserve Account . . . . . . . . 09,209.0031 ENDING RV RESERVE ACCOUNT BALANCE. . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~733~~725,~~818~~798.1403 ============== RV Reserve Account Balance as a % of the RV Pool Balance . . . . . . . . . . . . . . . . ~~100~~7.~~0000~~3634% Specified RV Reserve Account Requirement . . . . . . . . . . . . . . . . . . . . . . . . 10725,~~191,238~~798.6603 Amount needed to fully fund RV Reserve Account . . . . . . . . . . . . . . . . . . . . . ~~9,457,420~~0.5200 SURETY BOND Outstanding Reimbursement Obligations at the end of the preceding Collection Period . . . ~~2,238~~0.1700 Preference Amounts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 Surety Drawing Amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 Surety Bond Fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,~~045~~019.0912 Interest on Outstanding Reimbursement Obligations at the end of the preceding collection. 100.2600 Amounts due to Surety Bond Provider . . . . . . . . . . . . . . . . . . . . . . . . . . . 31,~~293~~019.5112 Distributions made to the Surety Bond Provider. . . . . . . . . . . . . . . . . . . . . . 31,~~293~~019.5112 Remaining Amounts Owed to the Surety Bond Provider. . . . . . . . . . . . . . . . . . . . 0.00 NET CREDIT LOSS RATIO Net Credit Losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~-23~~19,~~485~~313.9931 Average Net Credit Loss Ratio - Annualized. . . . . . . . . . . . . . . . . . . . . . . . 62.3686% DELINQUENCY ANALYSIS Number of Loans 30 to 59 days past due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2830.00 60 to 89 days past due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116.00 90 or more days past due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48.00 -------------- TOTAL. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4344.00 ============== Principal Balance 30 to 59 days past due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~332~~278,~~912~~206.5047 60 to 89 days past due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~148~~48,~~531~~030.1721 90 or more days past due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23127,~~354~~871.8489 -------------- TOTAL. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~~504~~454,~~798~~108.5157 ============== Delinquency Ratio - 60+ Day Delinquent Accounts For the current Collection Period. . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.~~6866~~7846% For the preceding Collection Period. . . . . . . . . . . . . . . . . . . . . . . . . . . 1.~~0902~~6866% For the second preceding Collection Period . . . . . . . . . . . . . . . . . . . . . . . 21.~~5316~~0902% For the third preceding Collection Period. . . . . . . . . . . . . . . . . . . . . . . . 2.~~9907~~5316% Average 3 month 60 Day + Delinquency Ratio . . . . . . . . . . . . . . . . . . . . . . . 1.~~7695~~5205% Average 4 month 60 Day + Delinquency Ratio . . . . . . . . . . . . . . . . . . . . . . . 21.~~0748~~7732% REPOSSESSION ANALYSIS Current Balance of Contracts where Repossession Occurred in the Current Month. . . . . . 056,733.0052 Number of Contracts where Repossession Occurred in the Current Month . . . . . . . . . . 03.00 WEIGHTED AVERAGE COMPUTATIONS-MARINE CONTRACTS Weighted Average Coupon. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.~~0928~~0807% Weighted Average Original Term (months). . . . . . . . . . . . . . . . . . . . . . . . . 140.99 Weighted Average Remaining Term (months) . . . . . . . . . . . . . . . . . . . . . . . . 67.8136 Number of Outstanding Accounts-End of Period . . . . . . . . . . . . . . . . . . . . . . 1,~~170~~151.00 CASH SETTLEMENT FOR THE TRUSTEE Available Funds in the Collection Account. . . . . . . . . . . . . . . . . . . . . . . . . ~~375~~406,~~602~~266.4913 Servicing Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 206,~~484~~369.7252 Marine Interest allocable to the Seller's Certificate. . . . . . . . . . . . . . . . . . . 0.00 Marine Principal amount allocable to the Seller's Certificate. . . . . . . . . . . . . . . 0.00 Wire Funds to the Surety Bond Provider. . . . . . . . . . . . . . . . . . . . . . . . . . . 31,~~293~~019.5112 -------------- NET DEPOSIT FROM COLLECTION ACCOUNT TO THE CERTIFICATE ACCOUNT . . . . . . . . . . . . . . ~~351~~398,~~824~~877.2549 ============== Reserve Account deposit to Certificate Account . . . . . . . . . . . . . . . . . . . . . . 0.00 RV Reserve Account Cross Collateral Amount . . . . . . . . . . . . . . . . . . . . . . . . 0.00 Surety Bond deposit to Certificate Account . . . . . . . . . . . . . . . . . . . . . . . . 0.00 -------------- TOTAL DEPOSIT TO THE CERTIFICATE ACCOUNT . . . . . . . . . . . . . . . . . . . . . . . . . ~~351~~398,~~824~~877.2549 ============== Wire Funds to the Marine Certificateholders - Interest Amounts . . . . . . . . . . . . . . 5453,~~431~~079.5537 WIRE FUNDS TO THE MARINE CERTIFICATEHOLDERS - PRINCIPAL AMOUNTS. . . . . . . . . . . . . . ~~259~~334,~~618~~422.8032 ============== Deposit Funds into the Marine Reserve Account. . . . . . . . . . . . . . . . . . . . . . . ~~37,773~~0.9100 Deposit Funds into the RV Reserve Account. . . . . . . . . . . . . . . . . . . . . . . . . 0.00 Wire Funds to NationsCredit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 011,375.0080 [NATIONSCREDIT GRANTOR TRUST LETTERHEAD] ---------------------------------------- ~~NOVEMBER~~JANUARY 911, ~~2001~~2002 BY EDGAR Securities and Exchange Commission Judiciary Plaza 450 Fifth Street, N.W. Washington, D.C. 20549 Re: NationsCredit Grantor Trust 1997 - 2 Ladies and Gentlemen: On behalf of NationsCredit Grantor Trust 1997 - 2 (the "Trust") filed herewith via EDGAR is the Trust's Current Report on Form 8-K. Should you have any questions with regard to the filing, please call the undersigned at (704) 387-3780. Very truly yours, /s/ RHONDA NANTZ ------------------ Rhonda Nantz Vice President

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