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) : March 25, 1996
Chemical Mortgage Securities, Inc.
(Issuer in respect of Multi-Class Mortgage
Pass-Through Certificates, Series 1996-1)
(Exact name of registrant as
specified in its charter)
New York 3-24654 13-3436103
(State or other jurisdiction (Commission File (IRS Employer
of incorporation ororganization) Number) Identification No.)
270 Park Avenue, New York, New York 10017
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code : (212) 834-5316
N/A
(Former name or former address, if changed since last report.)
Page 1 of 4 This report consists of
consecutively numbered pages.
<PAGE>
Item 5. Other Events.
On March 25, 1996, April 25, 1996, May 25, 1996, June 25, 1996, July 25,
1996 and August 25, 1996 distributions were made to the
Certificateholders. Specific information with respect to the
distributions is filed as Exhibits 99.1, 99.2, 99.3, 99.4, 99.5, and
99.6 hereto.
No other reportable transactions or matters have occurred during the
current reporting period.
Item 7. Financial Statements and Exhibits.
(c) The following exhibits are filed as part of this report:
Statement to Certificateholders on March 25, 1996 filed as Exhibit 99.1
hereto.
Statement to Certificateholders on April 25, 1996 filed as Exhibit 99.2
hereto.
Statement to Certificateholders on May 25, 1996 filed as Exhibit 99.3
hereto.
Statement to Certificateholders on June 25, 1996 filed as Exhibit 99.4
hereto.
Statement to Certificateholders on July 25, 1996 filed as Exhibit 99.5
hereto.
Statement to Certificateholders on August 25, 1996 filed as Exhibit
99.6 hereto.
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CHASE MANHATTAN BANK
(FORMERLY KNOWN AS CHEMICAL BANK),
AS TRUSTEE, FOR
MULTI-CLASS MORTGAGE PASS-THROUGH
CERTIFICATES, SERIES 1996-1
Date: 9/17/96 By: /s/ Ronald Feldman
Ronald Feldman
Vice President
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number Description of Exhibits Page
99.1 Monthly Certificateholder Statement on 5
March 25, 1996.
99.2 Monthly Certificateholder Statement on 8
April 25, 1996.
99.3 Monthly Certificateholder Statement on 11
May 25, 1996.
99.4 Monthly Certificateholder Statement on 14
June 25, 1996.
99.5 Monthly Certificateholder Statement on 17
July 25, 1996.
99.6 Monthly Certificateholder Statement on 20
August 25, 1996.
<PAGE>
Exhibit 99.1
Monthly Certificateholder Statement on March 25, 1996
<PAGE>
<TABLE>
<CAPTION>
CHEMICAL MORTGAGE SECURITIES, INC.
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-1
DISTRIBUTION: 25-Mar-96 PAGE # 1
ORIGINAL BEGINNING REALIZED REALIZED ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL LOSS LOSS CERTIFICATE
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION PRINCIPAL INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C>
A-1 90,918,000.43 90,145,135.74 1,729,426.71 544,626.87 2,274,053.58 0.00 0.00 88,415,709.03
A-2 40,932,000.00 40,584,050.23 78,601.53 236,740.29 1,015,341.82 0.00 0.00 39,805,448.70
A-3 20,466,000.00 20,292,025.12 389,300.77 131,052.66 520,353.43 0.00 0.00 19,902,724.35
A-4 9,139,000.00 9,139,000.00 (0.00) 53,310.83 53,310.83 0.00 0.00 9,139,000.00
A-5 1,000,000.00 1,000,000.00 (0.00) 6,250.00 6,250.00 0.00 0.00 1,000,000.00
A-6 2,713,000.00 2,713,000.00 (0.00) 18,086.67 18,086.67 0.00 0.00 2,713,000.00
A-7 23,127,000.00 23,127,000.00 (0.00) 139,725.63 139,725.63 0.00 0.00 23,127,000.00
A-8 13,697,000.00 13,697,000.00 0.00 79,899.17 79,899.17 0.00 0.00 13,697,000.00
A-9 24,100,000.00 24,083,486.01 16,653.70 145,504.39 162,158.09 0.00 0.00 24,066,832.31
A-10 N/A N/A N/A 1,940.41 1,940.41 0.00 0.00 N/A
A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-RL 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0-1 6,013,000.00 6,008,879.73 4,155.13 36,303.65 40,458.78 0.00 0.00 6,004,724.60
B-2 3,607,000.00 3,604,528.38 2,492.53 21,777.36 24,269.89 0.00 0.00 3,602,035.85
B-3 2,406,000.00 2,404,351.34 1,662.61 14,526.29 16,188.90 0.00 0.00 2,402,688.73
B-4 962,000.00 961,340.81 664.77 5,808.10 6,472.87 0.00 0.00 960,676.04
B-5 481,000.00 480,670.41 332.38 2,904.05 3,236.43 0.00 0.00 480,338.03
B-6 962,552.00 961,892.43 665.15 5,811.43 6,476.58 0.00 0.00 961,227.28
TOTALS 240,523,752.43 239,202,360.20 2,923,955.28 1,444,267.80 4,368,223.08 0.00 0.00 236,278,404.92
</TABLE>
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. CURR PASS
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE
A-1 19.02182963 5.99030849 972.47749194 A-1 7.25%
A-2 19.02182963 5.78374597 972.47749194 A-2 7.00%
A-3 19.02182963 6.40343301 972.47749194 A-3 7.75%
A-4 -0.00000000 5.83333297 1000.00000000 A-4 7.00%
A-5 -0.00000000 6.25000000 1000.00000000 A-5 7.50%
A-6 -0.00000000 6.66666790 1000.00000000 A-6 8.00%
A-7 -0.00000000 6.04166688 1000.00000000 A-7 7.25%
A-8 0.00000000 5.83333358 1000.00000000 A-8 7.00%
A-9 0.69102490 6.03752656 998.62374730 A-9 7.25%
A-10 N/A 0.14166679 N/A A-10 0.17%
A-R 0.00000000 0.00000000 0.00000000 A-R 7.25%
A-RL 0.00000000 0.00000000 0.00000000 A-RL 7.25%
B-1 0.69102445 6.03752702 998.62374854 B-1 7.25%
B-2 0.69102578 6.03752703 998.62374549 B-2 7.25%
B-3 0.69102660 6.03752702 998.62374480 B-3 7.25%
B-4 0.69102911 6.03752599 998.62374220 B-4 7.25%
B-5 0.69101871 6.03752599 998.62376299 B-5 7.25%
B-6 0.69102760 6.03752317 998.62374189 B-6 7.25%
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT
THE ADMINISTRATOR LISTED BELOW:
STUART LANDUCCI
CHEMICAL BANK - STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-3962
<PAGE>
CHEMICAL MORTGAGE SECURITIES, INC.
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-1
DISTRIBUTION: 25-Mar-96 PAGE # 2
SEC. 4.02 (I) (b) PRINCIPAL PREPAYMENTS 2,758,547.15
SEC. 4.02 (ii) SERVICING FEE 151,330.13
SEC. 4.02 (iv) CURRENT ADVANCES 2,155.69
OUTSTANDING ADVANCES 4,311.38
SEC. 4.02 (v) ENDING NUMBER OF LOANS 767
ENDING STATED PRINCIPAL BALANCE 236,278,404.92
SEC. 4.02 (vi) SENIOR PERCENTAGE 83.714753%
CLASS B PERCENTAGE 6.099453%
CLASS B1 PERCENTAGE 2.541377%
CLASS B2 PERCENTAGE 1.524488%
CLASS B3 PERCENTAGE 1.016889%
CLASS B4 PERCENTAGE 0.406586%
CLASS B5 PERCENTAGE 0.203293%
CLASS B6 PERCENTAGE 0.406820%
SEC. 4.02 (vii) ENDING RESERVE FUND BALANCE 3,000.00
SEC. 4.02 (viii) CLASS A-8 DISTRIBUTION DEFICIENCY 0.00
PAYMENTS UNDER POLICY 0.00
CLASS A-8 DISTRIBUTION 79,899.17
SEC. 4.02 (ix) DELINQ.& FORECLOSURES CATEGORY NUMBER STAT PRIN BAL
30-59 DAYS 1 297,872.62
60-89 DAYS 0 0.00
90+ DAYS 0 0.00
FORECLOSURE 0 0.00
SEC. 4.02 (x) RECENT REO PROPERTY LOAN # STAT PRIN BAL DATE OF ACQ.
N/A 0.00 N/A
SEC. 4.02 (xi) BOOK VALUE OF REO PROPERTY 0.00
EC. 4.02 (xii) REMAINING SPECIAL HAZARD AMOUNT 3,714,454.00
REMAINING FRAUD LOSS AMOUNT 4,810,475.00
REMAINING BANKRUPTCY AMOUNT 100,000.00
CLASS UNPAID INTEREST CLASS UNPAID INTEREST
SEC. 4.02 (xiii) CLASS A-1 0.00 CLASS A-10 0.00
CLASS A-2 0.00 CLASS A-R 0.00
CLASS A-3 0.00 CLASS A-RL 0.00
CLASS A-4 0.00 CLASS B-1 0.00
CLASS A-5 0.00 CLASS B-2 0.00
CLASS A-6 0.00 CLASS B-3 0.00
CLASS A-7 0.00 CLASS B-4 0.00
CLASS A-8 0.00 CLASS B-5 0.00
CLASS A-9 0.00 CLASS B-6 0.00
SEC. 4.02 (xiv) SENIOR PREPAYMENT PERCENTAGE 100.000000%
B1 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B2 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B3 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B4 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B5 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B6 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
SEC. 4.02 (xvi) RECOVERIES ON FORECLOSURES 0.00
SEC. 4.02 (xvii) WEIGHTED AVERAGE REMAINING TERM 355
SEC. 4.02 (xviii)ENDING WEIGHTED AVERAGE MORTGAGE RATE 8.004635%
SEC. 4.02 (xix) GROUP I SENIOR OPTIMAL PRINCIPAL AMOUNT 2,897,329.01
GROUP II SENIOR OPTIMAL PRINCIPAL AMOUNT 16,653.70
SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT 9,972.57
POOL BALANCE 236,278,404.92
<PAGE>
Exhibit 99.2
Monthly Certificateholder Statement on April 25, 1996
<PAGE>
<TABLE>
<CAPTION>
CHEMICAL MORTGAGE SECURITIES, INC.
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-1
DISTRIBUTION: 25-Apr-96 PAGE # 1
ORIGINAL BEGINNING REALIZED REALIZED ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL LOSS LOSS CERTIFICATE
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION PRINCIPAL INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C>
A-1 90,918,000.43 88,415,709.03 1,973,577.76 534,178.25 2,507,756.01 0.00 0.00 86,442,131.27
A-2 40,932,000.00 39,805,448.70 888,520.25 232,198.45 1,120,718.70 0.00 0.00 38,916,928.45
A-3 20,466,000.00 19,902,724.35 444,260.13 128,538.43 572,798.56 0.00 0.00 19,458,464.22
A-4 9,139,000.00 9,139,000.00 0.00 53,310.83 53,310.83 0.00 0.00 9,139,000.00
A-5 1,000,000.00 1,000,000.00 0.00 6,250.00 6,250.00 0.00 0.00 1,000,000.00
A-6 2,713,000.00 2,713,000.00 0.00 18,086.67 18,086.67 0.00 0.00 2,713,000.00
A-7 23,127,000.00 23,127,000.00 0.00 139,725.63 139,725.63 0.00 0.00 23,127,000.00
A-8 13,697,000.00 13,697,000.00 0.00 79,899.17 79,899.17 0.00 0.00 13,697,000.00
A-9 24,100,000.00 24,066,832.31 16,839.68 145,403.78 162,243.46 0.00 0.00 24,049,992.63
A-10 N/A N/A N/A 1,940.41 1,940.41 0.00 0.00 N/A
A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-RL 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
B-1 6,013,000.00 6,004,724.60 4,201.54 36,278.54 40,480.08 0.00 0.00 6,000,523.06
B-2 3,607,000.00 3,602,035.85 2,520.36 21,762.30 24,282.66 0.00 0.00 3,599,515.49
B-3 2,406,000.00 2,402,688.73 1,681.17 14,516.24 16,197.41 0.00 0.00 2,401,007.56
B-4 962,000.00 960,676.04 672.19 5,804.08 6,476.27 0.00 0.00 960,003.85
B-5 481,000.00 480,338.03 336.09 2,902.04 3,238.13 0.00 0.00 480,001.94
B-6 962,552.00 961,227.28 672.58 5,807.41 6,479.99 0.00 0.00 960,554.70
TOTALS 240,523,752.43 236,278,404.92 3,333,281.75 1,426,602.23 4,759,883.98 0.00 0.00 232,945,123.17
</TABLE>
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. CURR PASS
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE
A-1 21.70722794 5.87538493 950.77026400 A-1 7.25%
A-2 21.70722794 5.67278535 950.77026400 A-2 7.00%
A-3 21.70722794 6.28058390 950.77026400 A-3 7.75%
A-4 0.00000000 5.83333297 1000.00000000 A-4 7.00%
A-5 0.00000000 6.25000000 1000.00000000 A-5 7.50%
A-6 0.00000000 6.66666790 1000.00000000 A-6 8.00%
A-7 0.00000000 6.04166688 1000.00000000 A-7 7.25%
A-8 0.00000000 5.83333358 1000.00000000 A-8 7.00%
A-9 0.69874191 6.03335187 997.92500539 A-9 7.25%
A-10 N/A 0.14166679 N/A A-10 0.17%
A-R 0.00000000 0.00000000 0.00000000 A-R 7.25%
A-RL 0.00000000 0.00000000 0.00000000 A-RL 7.25%
B-1 0.69874272 6.03335107 997.92500582 B-1 7.25%
B-2 0.69874134 6.03335182 997.92500416 B-2 7.25%
B-3 0.69874065 6.03334996 997.92500416 B-3 7.25%
B-4 0.69874220 6.03334719 997.92500000 B-4 7.25%
B-5 0.69873181 6.03334719 997.92503119 B-5 7.25%
B-6 0.69874667 6.03334677 997.92499522 B-6 7.25%
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT
THE ADMINISTRATOR LISTED BELOW:
EILEEN ROONEY
CHEMICAL BANK - STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212)946-3185
<PAGE>
CHEMICAL MORTGAGE SECURITIES, INC.
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-1
DISTRIBUTION: 25-Apr-96 PAGE # 2
SEC. 4.02 (i) (b) PRINCIPAL PREPAYMENTS 3,167,956.55
SEC. 4.02 (ii) SERVICING FEE 148,586.66
SEC. 4.02 (iv) CURRENT ADVANCES 0.00
OUTSTANDING ADVANCES 0.00
SEC. 4.02 (v) ENDING NUMBER OF LOANS 758
ENDING STATED PRINCIPAL BALANCE 232,945,123.17
SEC. 4.02 (vi) SENIOR PERCENTAGE 83.493280%
CLASS B PERCENTAGE 6.182403%
CLASS B1 PERCENTAGE 2.575938%
CLASS B2 PERCENTAGE 1.545220%
CLASS B3 PERCENTAGE 1.030718%
CLASS B4 PERCENTAGE 0.412116%
CLASS B5 PERCENTAGE 0.206058%
CLASS B6 PERCENTAGE 0.412352%
SEC. 4.02 (vii) ENDING RESERVE FUND BALANCE 3,000.00
SEC. 4.02 (viii) CLASS A-8 DISTRIBUTION DEFICIENCY 0.00
PAYMENTS UNDER POLICY 0.00
CLASS A-8 DISTRIBUTION 79,899.17
SEC. 4.02 (ix) DELINQ. & FORECLOSURES CATEGORY NUMBER STAT PRIN BAL
30-59 DAYS 0 0.00
60-89 DAYS 0 0.00
90+ DAYS 0 0.00
FORECLOSURE 0 0.00
SEC. 4.02 (x) RECENT REO PROPERTY LOAN # STAT PRIN BAL DATE OF ACQ.
N/A 0.00 N/A
SEC. 4.02 (xi) BOOK VALUE OF REO PROPERTY 0.00
SEC. 4.02 (xii) REMAINING SPECIAL HAZARD AMOUNT 3,714,454.00
REMAINING FRAUD LOSS AMOUNT 4,810,475.00
REMAINING BANKRUPTCY AMOUNT 100,000.00
CLASS UNPAID INTEREST CLASS UNPAID INTEREST
SEC. 4.02 (xiii) CLASS A-1 0.00 CLASS A-10 0.00
CLASS A-2 0.00 CLASS A-R 0.00
CLASS A-3 0.00 CLASS A-RL 0.00
CLASS A-4 0.00 CLASS B-1 0.00
CLASS A-5 0.00 CLASS B-2 0.00
CLASS A-6 0.00 CLASS B-3 0.00
CLASS A-7 0.00 CLASS B-4 0.00
CLASS A-8 0.00 CLASS B-5 0.00
CLASS A-9 0.00 CLASS B-6 0.00
SEC. 4.02 (xiv) SENIOR PREPAYMENT PERCENTAGE 100.000000%
B1 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B2 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B3 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B4 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B5 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B6 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
SEC. 4.02 (xvi) RECOVERIES ON FORECLOSURES 0.00
SEC. 4.02 (xvii) WEIGHTED AVERAGE REMAINING TERM 354
SEC. 4.02 (xviii) ENDING WEIGHTED AVERAGE MORTGAGE RATE 7.997771%
SEC. 4.02 (xix) GROUP I SENIOR OPTIMAL PRINCIPAL AMOUNT 3,306,358.14
GROUP II SENIOR OPTIMAL PRINCIPAL AMOUNT 16,839.68
SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT 10,083.93
POOL BALANCE 232,945,123.17
<PAGE>
Exhibit 99.3
Monthly Certificateholder Statement on May 25, 1996
<PAGE>
<TABLE>
<CAPTION>
CHEMICAL MORTGAGE SECURITIES, INC.
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-1
DISTRIBUTION: 25-May-96 PAGE # 1
ORIGINAL BEGINNING REALIZED REALIZED ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL LOSS LOSS CERTIFICATE
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION PRINCIPAL INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C>
A-1 90,918,000.43 86,442,131.27 363,835.56 522,254.54 886,090.10 0.00 0.00 86,078,295.71
A-2 40,932,000.00 38,916,928.45 163,801.63 227,015.42 390,817.05 0.00 0.00 38,753,126.81
A-3 20,466,000.00 19,458,464.22 81,900.82 125,669.25 207,570.07 0.00 0.00 19,376,563.41
A-4 9,139,000.00 9,139,000.00 0.00 53,310.83 53,310.83 0.00 0.00 9,139,000.00
A-5 1,000,000.00 1,000,000.00 0.00 6,250.00 6,250.00 0.00 0.00 1,000,000.00
A-6 2,713,000.00 2,713,000.00 0.00 18,086.67 18,086.67 0.00 0.00 2,713,000.00
A-7 23,127,000.00 23,127,000.00 0.00 139,725.63 139,725.63 0.00 0.00 23,127,000.00
A-8 13,697,000.00 13,697,000.00 0.00 79,899.17 79,899.17 0.00 0.00 13,697,000.00
A-9 24,100,000.00 24,049,992.63 17,033.22 145,302.04 162,335.26 0.00 0.00 24,032,959.41
A-10 N/A N/A N/A 1,940.41 1,940.41 0.00 0.00 N/A
A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-RL 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
B-1 6,013,000.00 6,000,523.06 4,249.82 36,253.16 40,502.98 0.00 0.00 5,996,273.24
B-2 3,607,000.00 3,599,515.49 2,549.33 21,747.07 24,296.40 0.00 0.00 3,596,966.16
B-3 2,406,000.00 2,401,007.56 1,700.49 14,506.09 16,206.58 0.00 0.00 2,399,307.07
B-4 962,000.00 960,003.85 679.92 5,800.02 6,479.94 0.00 0.00 959,323.93
B-5 481,000.00 480,001.94 339.96 2,900.01 3,239.97 0.00 0.00 479,661.98
B-6 962,552.00 960,554.70 680.31 5,803.35 6,483.66 0.00 0.00 959,874.39
TOTALS 240,523,752.43 232,945,123.17 636,771.06 1,406,463.66 2,043,234.72 0.00 0.00 232,308,352.11
</TABLE>
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. CURR PASS
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE
A-1 4.00179895 5.74423698 946.76846505 A-1 7.25%
A-2 4.00179895 5.54615997 946.76846505 A-2 7.00%
A-3 4.00179895 6.14039138 946.76846505 A-3 7.75%
A-4 0.00000000 5.83333297 1000.00000000 A-4 7.00%
A-5 0.00000000 6.25000000 1000.00000000 A-5 7.50%
A-6 0.00000000 6.66666790 1000.00000000 A-6 8.00%
A-7 0.00000000 6.04166688 1000.00000000 A-7 7.25%
A-8 0.00000000 5.83333358 1000.00000000 A-8 7.00%
A-9 0.70677261 6.02913029 997.21823278 A-9 7.25%
A-10 N/A 0.14166679 N/A A-10 0.17%
A-R 0.00000000 0.00000000 0.00000000 A-R 7.25%
A-RL 0.00000000 0.00000000 0.00000000 A-RL 7.25%
B-1 0.70677199 6.02913022 997.21823383 B-1 7.25%
B-2 0.70677294 6.02912947 997.21823122 B-2 7.25%
B-3 0.70677057 6.02913134 997.21823358 B-3 7.25%
B-4 0.70677755 6.02912682 997.21822245 B-4 7.25%
B-5 0.70677755 6.02912682 997.21825364 B-5 7.25%
B-6 0.70677740 6.02912882 997.21821782 B-6 7.25%
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT
THE ADMINISTRATOR LISTED BELOW:
EILEEN ROONEY
CHEMICAL BANK - STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-3185
<PAGE>
CHEMICAL MORTGAGE SECURITIES, INC.
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-1
DISTRIBUTION: 25-May-96 PAGE # 2
SEC. 4.02 (i) (b) PRINCIPAL PREPAYMENTS 471,789.53
SEC. 4.02 (ii) SERVICING FEE 145,158.08
SEC. 4.02 (iv) CURRENT ADVANCES 0.00
OUTSTANDING ADVANCES 0.00
SEC. 4.02 (v) ENDING NUMBER OF LOANS 756
ENDING STATED PRINCIPAL BALANCE 232,308,352.11
SEC. 4.02 (vi) SENIOR PERCENTAGE 83.459757%
CLASS B PERCENTAGE 6.194959%
CLASS B1 PERCENTAGE 2.581170%
CLASS B2 PERCENTAGE 1.548359%
CLASS B3 PERCENTAGE 1.032811%
CLASS B4 PERCENTAGE 0.412953%
CLASS B5 PERCENTAGE 0.206476%
CLASS B6 PERCENTAGE 0.413190%
SEC. 4.02 (vii) ENDING RESERVE FUND BALANCE 3,000.00
SEC. 4.02 (viii) CLASS A-8 DISTRIBUTION DEFICIENCY 0.00
PAYMENTS UNDER POLICY 0.00
CLASS A-8 DISTRIBUTION 79,899.17
SEC. 4.02 (ix) DELINQ.& FORECLOSURES CATEGORY NUMBER STAT PRIN BAL
30-59 DAYS 0 0.00
60-89 DAYS 0 0.00
90+ DAYS 0 0.00
FORECLOSURE 0 0.00
SEC. 4.02 (x) RECENT REO PROPERTY LOAN # STAT PRIN BAL DATE OF ACQ.
N/A 0.00 N/A
SEC. 4.02 (xi) BOOK VALUE OF REO PROPERTY 0.00
SEC. 4.02 (xii) REMAINING SPECIAL HAZARD AMOUNT 3,714,454.00
REMAINING FRAUD LOSS AMOUNT 4,810,475.00
REMAINING BANKRUPTCY AMOUNT 100,000.00
CLASS UNPAID INTEREST CLASS UNPAID INTEREST
SEC. 4.02 (xiii) CLASS A-1 0.00 CLASS A-10 0.00
CLASS A-2 0.00 CLASS A-R 0.00
CLASS A-3 0.00 CLASS A-RL 0.00
CLASS A-4 0.00 CLASS B-1 0.00
CLASS A-5 0.00 CLASS B-2 0.00
CLASS A-6 0.00 CLASS B-3 0.00
CLASS A-7 0.00 CLASS B-4 0.00
CLASS A-8 0.00 CLASS B-5 0.00
CLASS A-9 0.00 CLASS B-6 0.00
SEC. 4.02 (xiv) SENIOR PREPAYMENT PERCENTAGE 100.000000%
B1 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B2 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B3 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B4 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B5 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B6 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
SEC. 4.02 (xvi) RECOVERIES ON FORECLOSURES 0.00
SEC. 4.02 (xvii) WEIGHTED AVERAGE REMAINING TERM 353
SEC. 4.02 (xviii) ENDING WEIGHTED AVERAGE MORTGAGE RATE 7.997558%
SEC. 4.02 (xix) GROUP I SENIOR OPTIMAL PRINCIPAL AMOUNT 609,538.01
GROUP II SENIOR OPTIMAL PRINCIPAL AMOUNT 17,033.22
SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT 10,199.83
POOL BALANCE 232,308,352.11
<PAGE>
Exhibit 99.4
Monthly Certificateholder Statement on June 25, 1996
<PAGE>
<TABLE>
<CAPTION>
CHEMICAL MORTGAGE SECURITIES, INC.
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-1
DISTRIBUTION: 25-Jun-96 PAGE # 1
ORIGINAL BEGINNING REALIZED REALIZED ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL LOSS LOSS CERTIFICATE
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION PRINCIPAL INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C>
A-1 90,918,000.43 86,078,295.71 164,989.53 520,056.36 685,045.89 0.00 0.00 85,913,306.18
A-2 40,932,000.00 38,753,126.81 74,279.59 226,059.91 300,339.50 0.00 0.00 38,678,847.22
A-3 20,466,000.00 19,376,563.41 37,139.79 125,140.31 162,280.10 0.00 0.00 19,339,423.62
A-4 9,139,000.00 9,139,000.00 0.00 53,310.83 53,310.83 0.00 0.00 9,139,000.00
A-5 1,000,000.00 1,000,000.00 0.00 6,250.00 6,250.00 0.00 0.00 1,000,000.00
A-6 2,713,000.00 2,713,000.00 0.00 18,086.67 18,086.67 0.00 0.00 2,713,000.00
A-7 23,127,000.00 23,127,000.00 0.00 139,725.63 139,725.63 0.00 0.00 23,127,000.00
A-8 13,697,000.00 13,697,000.00 0.00 79,899.17 79,899.17 0.00 0.00 13,697,000.00
A-9 24,100,000.00 24,032,959.41 17,168.52 145,199.13 162,367.65 0.00 0.00 24,015,790.89
A-10 N/A N/A N/A 1,940.41 1,940.41 0.00 0.00 N/A
A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-RL 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
B-1 6,013,000.00 5,996,273.24 4,283.58 36,227.48 40,511.06 0.00 0.00 5,991,989.66
B-2 3,607,000.00 3,596,966.16 2,569.58 21,731.67 24,301.25 0.00 0.00 3,594,396.58
B-3 2,406,000.00 2,399,307.07 1,714.00 14,495.81 16,209.81 0.00 0.00 2,397,593.07
B-4 962,000.00 959,323.93 685.32 5,795.92 6,481.24 0.00 0.00 958,638.61
B-5 481,000.00 479,661.98 342.66 2,897.96 3,240.62 0.00 0.00 479,319.32
B-6 962,552.00 959,874.39 685.71 5,799.24 6,484.95 0.00 0.00 959,188.68
TOTALS 240,523,752.43 232,308,352.11 303,858.28 1,402,616.50 1,706,474.78 0.00 0.00 232,004,493.83
</TABLE>
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END.CERT. CURR PASS
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE
A-1 1.81470699 5.72005937 944.95375804 A-1 7.25%
A-2 1.81470699 5.52281613 944.95375803 A-2 7.00%
A-3 1.81470699 6.11454657 944.95375827 A-3 7.75%
A-4 0.00000000 5.83333297 1000.00000000 A-4 7.00%
A-5 0.00000000 6.25000000 1000.00000000 A-5 7.50%
A-6 0.00000000 6.66666790 1000.00000000 A-6 8.00%
A-7 0.00000000 6.04166688 1000.00000000 A-7 7.25%
A-8 0.00000000 5.83333358 1000.00000000 A-8 7.00%
A-9 0.71238672 6.02486017 996.50584606 A-9 7.25%
A-10 N/A 0.14166679 N/A A-10 0.17%
A-R 0.00000000 0.00000000 0.00000000 A-R 7.25%
A-RL 0.00000000 0.00000000 0.00000000 A-RL 7.25%
B-1 0.71238650 6.02485947 996.50584733 B-1 7.25%
B-2 0.71238703 6.02485999 996.50584419 B-2 7.25%
B-3 0.71238570 6.02485869 996.50584788 B-3 7.25%
B-4 0.71239085 6.02486486 996.50583160 B-4 7.25%
B-5 0.71239085 6.02486486 996.50586279 B-5 7.25%
B-6 0.71238749 6.02485892 996.50583033 B-6 7.25%
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT
THE ADMINISTRATOR LISTED BELOW:
EILEEN ROONEY
CHEMICAL BANK - STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-3185
<PAGE>
CHEMICAL MORTGAGE SECURITIES, INC.
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-1
DISTRIBUTION: 25-Jun-96 PAGE # 2
SEC. 4.02 (i) (b) PRINCIPAL PREPAYMENTS 137,903.25
SEC. 4.02 (ii) SERVICING FEE 144,720.02
SEC. 4.02 (iv) CURRENT ADVANCES 5,337.69
OUTSTANDING ADVANCES 10,675.38
SEC. 4.02 (v) ENDING NUMBER OF LOANS 756
ENDING STATED PRINCIPAL BALANCE 232,004,493.83
SEC. 4.02 (vi) SENIOR PERCENTAGE 83.449925%
CLASS B PERCENTAGE 6.198641%
CLASS B1 PERCENTAGE 2.582704%
CLASS B2 PERCENTAGE 1.549279%
CLASS B3 PERCENTAGE 1.033425%
CLASS B4 PERCENTAGE 0.413198%
CLASS B5 PERCENTAGE 0.206599%
CLASS B6 PERCENTAGE 0.413435%
SEC. 4.02 (vii) ENDING RESERVE FUND BALANCE 3,000.00
SEC. 4.02 (viii) CLASS A-8 DISTRIBUTION DEFICIENCY 0.00
PAYMENTS UNDER POLICY 0.00
CLASS A-8 DISTRIBUTION 79,899.17
SEC. 4.02 (ix) DELINQ.& FORECLOSURES CATEGORY NUMBER STAT PRIN BAL
30-59 DAYS 3 704,950.81
60-89 DAYS 0 0.00
90+ DAYS 0 0.00
FORECLOSURE 0 0.00
SEC. 4.02 (x) RECENT REO PROPERTY LOAN # STAT PRIN BAL DATE OF ACQ.
N/A 0.00 N/A
SEC. 4.02 (xi) BOOK VALUE OF REO PROPERTY 0.00
SEC. 4.02 (xii) REMAINING SPECIAL HAZARD AMOUNT 3,714,454.00
REMAINING FRAUD LOSS AMOUNT 4,810,475.00
REMAINING BANKRUPTCY AMOUNT 100,000.00
CLASS UNPAID INTEREST CLASS UNPAID INTEREST
SEC. 4.02 (xiii) CLASS A-1 0.00 CLASS A-10 0.00
CLASS A-2 0.00 CLASS A-R 0.00
CLASS A-3 0.00 CLASS A-RL 0.00
CLASS A-4 0.00 CLASS B-1 0.00
CLASS A-5 0.00 CLASS B-2 0.00
CLASS A-6 0.00 CLASS B-3 0.00
CLASS A-7 0.00 CLASS B-4 0.00
CLASS A-8 0.00 CLASS B-5 0.00
CLASS A-9 0.00 CLASS B-6 0.00
SEC. 4.02 (xiv) SENIOR PREPAYMENT PERCENTAGE 100.000000%
B1 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B2 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B3 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B4 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B5 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B6 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
SEC. 4.02 (xvi) RECOVERIES ON FORECLOSURES 0.00
SEC. 4.02 (xvii) WEIGHTED AVERAGE REMAINING TERM 352
SEC. 4.02 (xviii) ENDING WEIGHTED AVERAGE MORTGAGE RATE 7.997478%
SEC. 4.02 (xix) GROUP I SENIOR OPTIMAL PRINCIPAL AMOUNT 276,408.91
GROUP II SENIOR OPTIMAL PRINCIPAL AMOUNT 17,168.52
SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT 10,280.85
POOL BALANCE 232,004,493.83
<PAGE>
Exhibit 99.5
Monthly Certificateholder Statement on July 25, 1996
<PAGE>
<TABLE>
<CAPTION>
CHEMICAL MORTGAGE SECURITIES, INC.
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-1
DISTRIBUTION: 25-Jul-96 PAGE # 1
ORIGINAL BEGINNING REALIZED REALIZED ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL LOSS LOSS CERTIFICATE
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION PRINCIPAL INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C>
A-1 90,918,000.43 85,913,306.18 116,960.31 519,059.56 636,019.87 0.00 0.00 85,796,345.87
A-2 40,932,000.00 38,678,847.22 52,656.46 225,626.61 278,283.07 0.00 0.00 38,626,190.76
A-3 20,466,000.00 19,339,423.62 26,328.23 124,900.44 151,228.67 0.00 0.00 19,313,095.39
A-4 9,139,000.00 9,139,000.00 0.00 53,310.83 53,310.83 0.00 0.00 9,139,000.00
A-5 1,000,000.00 1,000,000.00 0.00 6,250.00 6,250.00 0.00 0.00 1,000,000.00
A-6 2,713,000.00 2,713,000.00 0.00 18,086.67 18,086.67 0.00 0.00 2,713,000.00
A-7 23,127,000.00 23,127,000.00 0.00 139,725.63 139,725.63 0.00 0.00 23,127,000.00
A-8 13,697,000.00 13,697,000.00 0.00 79,899.17 79,899.17 0.00 0.00 13,697,000.00
A-9 24,100,000.00 24,015,790.89 17,389.95 145,095.40 162,485.35 0.00 0.00 23,998,400.94
A-10 N/A N/A N/A 1,940.41 1,940.41 0.00 0.00 N/A
A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-RL 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
B-1 6,013,000.00 5,991,989.66 4,338.83 36,201.60 40,540.43 0.00 0.00 5,987,650.83
B-2 3,607,000.00 3,594,396.58 2,602.72 21,716.15 24,318.87 0.00 0.00 3,591,793.86
B-3 2,406,000.00 2,397,593.07 1,736.11 14,485.46 16,221.57 0.00 0.00 2,395,856.96
B-4 962,000.00 958,638.61 694.15 5,791.77 6,485.92 0.00 0.00 957,944.46
B-5 481,000.00 479,319.32 347.08 2,895.89 3,242.97 0.00 0.00 478,972.24
B-6 962,552.00 959,188.68 694.55 5,795.10 6,489.65 0.00 0.00 958,494.13
TOTALS 240,523,752.43 232,004,493.83 223,748.39 1,400,780.69 1,624,529.08 0.00 0.00 231,780,745.44
</TABLE>
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT CURR PASS
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE
A-1 1.28643733 5.70909564 943.66732070 A-1 7.25%
A-2 1.28643751 5.51223028 943.66732052 A-2 7.00%
A-3 1.28643751 6.10282615 943.66732077 A-3 7.75%
A-4 0.00000000 5.83333297 1000.00000000 A-4 7.00%
A-5 0.00000000 6.25000000 1000.00000000 A-5 7.50%
A-6 0.00000000 6.66666790 1000.00000000 A-6 8.00%
A-7 0.00000000 6.04166688 1000.00000000 A-7 7.25%
A-8 0.00000000 5.83333358 1000.00000000 A-8 7.00%
A-9 0.72157469 6.02055602 995.78427137 A-9 7.25%
A-10 N/A 0.14166679 N/A A-10 0.17%
A-R 0.00000000 0.00000000 0.00000000 A-R 7.25%
A-RL 0.00000000 0.00000000 0.00000000 A-RL 7.25%
B-1 0.72157492 6.02055546 995.78427241 B-1 7.25%
B-2 0.72157472 6.02055725 995.78426948 B-2 7.25%
B-3 0.72157523 6.02055694 995.78427265 B-3 7.25%
B-4 0.72156965 6.02055094 995.78426195 B-4 7.25%
B-5 0.72158004 6.02056133 995.78428274 B-5 7.25%
B-6 0.72157141 6.02055785 995.78425893 B-6 7.25%
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT
THE ADMINISTRATOR LISTED BELOW:
DIANE WALLACE
CHASE MANHATTAN BANK - STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-8583
<PAGE>
CHEMICAL MORTGAGE SECURITIES, INC.
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-1
DISTRIBUTION: 25-Jul-96 PAGE # 2
SEC. 4.02 (i) (b) PRINCIPAL PREPAYMENTS 55,752.80
SEC. 4.02 (ii) SERVICING FEE 144,515.24
SEC. 4.02 (iv) CURRENT ADVANCES 1,787.72
OUTSTANDING ADVANCES 3,575.44
SEC. 4.02 (v) ENDING NUMBER OF LOANS 756
ENDING STATED PRINCIPAL BALANCE 231,780,745.44
SEC. 4.02 (vi) SENIOR PERCENTAGE 83.445944%
CLASS B PERCENTAGE 6.200132%
CLASS B1 PERCENTAGE 2.583325%
CLASS B2 PERCENTAGE 1.549652%
CLASS B3 PERCENTAGE 1.033674%
CLASS B4 PERCENTAGE 0.413298%
CLASS B5 PERCENTAGE 0.206649%
CLASS B6 PERCENTAGE 0.413535%
SEC. 4.02 (vii) ENDING RESERVE FUND BALANCE 3,000.00
SEC. 4.02 (viii) CLASS A-8 DISTRIBUTION DEFICIENCY 0.00
PAYMENTS UNDER POLICY 0.00
CLASS A-8 DISTRIBUTION 79,899.17
SEC. 4.02 (ix) DELINQ.& FORECLOSURES CATEGORY NUMBER STAT PRIN BAL
30-59 DAYS 1 231,344.90
60-89 DAYS 0 0.00
90+ DAYS 0 0.00
FORECLOSURE 0 0.00
SEC. 4.02 (x) RECENT REO PROPERTY LOAN # STAT PRIN BAL DATE OF ACQ.
N/A 0.00 N/A
SEC. 4.02 (xi) BOOK VALUE OF REO PROPERTY 0.00
SEC. 4.02 (xii) REMAINING SPECIAL HAZARD AMOUNT 3,714,454.00
REMAINING FRAUD LOSS AMOUNT 4,810,475.00
REMAINING BANKRUPTCY AMOUNT 100,000.00
CLASS UNPAID INTEREST CLASS UNPAID INTEREST
SEC. 4.02 (xiii) CLASS A-1 0.00 CLASS A-10 0.00
CLASS A-2 0.00 CLASS A-R 0.00
CLASS A-3 0.00 CLASS A-RL 0.00
CLASS A-4 0.00 CLASS B-1 0.00
CLASS A-5 0.00 CLASS B-2 0.00
CLASS A-6 0.00 CLASS B-3 0.00
CLASS A-7 0.00 CLASS B-4 0.00
CLASS A-8 0.00 CLASS B-5 0.00
CLASS A-9 0.00 CLASS B-6 0.00
SEC. 4.02 (xiv) SENIOR PREPAYMENT PERCENTAGE 100.000000%
B1 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B2 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B3 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B4 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B5 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B6 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
SEC. 4.02 (xvi) RECOVERIES ON FORECLOSURES 0.00
SEC. 4.02 (xvii) WEIGHTED AVERAGE REMAINING TERM 351
SEC. 4.02 (xviii) ENDING WEIGHTED AVERAGE MORTGAGE RATE 7.997469%
SEC. 4.02 (xix) GROUP I SENIOR OPTIMAL PRINCIPAL AMOUNT 195,945.00
GROUP II SENIOR OPTIMAL PRINCIPAL AMOUNT 17,389.95
SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT 10,413.44
POOL BALANCE 231,780,745.44
<PAGE>
Exhibit 99.6
Monthly Certificateholder Statement on August 25, 1996
<PAGE>
<TABLE>
<CAPTION>
CHEMICAL MORTGAGE SECURITIES, INC.
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-1
DISTRIBUTION: 25-Aug-96 PAGE # 1
ORIGINAL BEGINNING REALIZED REALIZED ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL LOSS LOSS CERTIFICATE
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION PRINCIPAL INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C>
A-1 90,918,000.43 85,796,345.87 124,803.23 518,352.91 643,156.14 0.00 0.00 85,671,542.64
A-2 40,932,000.00 38,626,190.76 56,187.40 225,319.45 281,506.85 0.00 0.00 38,570,003.36
A-3 20,466,000.00 19,313,095.39 28,093.70 124,730.41 152,824.11 0.00 0.00 19,285,001.69
A-4 9,139,000.00 9,139,000.00 0.01 53,310.83 53,310.84 0.00 0.00 9,138,999.99
A-5 1,000,000.00 1,000,000.00 0.00 6,250.00 6,250.00 0.00 0.00 1,000,000.00
A-6 2,713,000.00 2,713,000.00 0.00 18,086.67 18,086.67 0.00 0.00 2,713,000.00
A-7 23,127,000.00 23,127,000.00 0.00 139,725.63 139,725.63 0.00 0.00 23,127,000.00
A-8 13,697,000.00 13,697,000.00 0.00 79,899.17 79,899.17 0.00 0.00 13,697,000.00
A-9 24,100,000.00 23,998,400.94 17,548.71 144,990.34 162,539.05 0.00 0.00 23,980,852.23
A-10 N/A N/A N/A 1,940.41 1,940.41 0.00 0.00 N/A
A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-RL 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
B-1 6,013,000.00 5,987,650.83 4,378.44 36,175.39 40,553.83 0.00 0.00 5,983,272.39
B-2 3,607,000.00 3,591,793.86 2,626.48 21,700.42 24,326.90 0.00 0.00 3,589,167.38
B-3 2,406,000.00 2,395,856.96 1,751.96 14,474.97 16,226.93 0.00 0.00 2,394,105.00
B-4 962,000.00 957,944.46 700.49 5,787.58 6,488.07 0.00 0.00 957,243.97
B-5 481,000.00 478,972.24 350.25 2,893.79 3,244.04 0.00 0.00 478,621.99
B-6 962,552.00 958,494.13 700.89 5,790.90 6,491.79 0.00 0.00 957,793.24
TOTALS 240,523,752.43 31,780,745.44 237,141.56 1,399,428.8 1,636,570.43 0.00 0.00 231,543,603.88
</TABLE>
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. CURR PASS
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE
A-1 1.37270100 5.70132325 942.29461970 A-1 7.25%
A-2 1.37270107 5.50472613 942.29461946 A-2 7.00%
A-3 1.37270107 6.09451823 942.29461970 A-3 7.75%
A-4 0.00000109 5.83333297 999.99999891 A-4 7.00%
A-5 0.00000078 6.25000000 999.99999922 A-5 7.50%
A-6 0.00000078 6.66666790 999.99999922 A-6 8.00%
A-7 0.00000000 6.04166688 1000.00000000 A-7 7.25%
A-8 0.00000000 5.83333358 1000.00000000 A-8 7.00%
A-9 0.72816224 6.01619668 995.05610913 A-9 7.25%
A-10 N/A 0.14166679 N/A A-10 0.17%
A-R 0.00000000 0.00000000 0.00000000 A-R 7.25%
A-RL 0.00000000 0.00000000 0.00000000 A-RL 7.25%
B-1 0.72816231 6.01619657 995.05611009 B-1 7.25%
B-2 0.72816191 6.01619629 995.05610757 B-2 7.25%
B-3 0.72816293 6.01619701 995.05610973 B-3 7.25%
B-4 0.72816008 6.01619543 995.05610187 B-4 7.25%
B-5 0.72817048 6.01619543 995.05611227 B-5 7.25%
B-6 0.72815506 6.01619445 995.05610387 B-6 7.25%
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT
THE ADMINISTRATOR LISTED BELOW:
DIANE WALLACE
CHASE MANHATTAN BANK - STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-8583
<PAGE>
CHEMICAL MORTGAGE SECURITIES, INC.
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-1
DISTRIBUTION: 25-Aug-96 PAGE # 2
SEC. 4.02 (i) (b) PRINCIPAL PREPAYMENTS 67,653.10
SEC. 4.02 (ii) SERVICING FEE 144,374.17
SEC. 4.02 (iv) CURRENT ADVANCES 1,787.72
OUTSTANDING ADVANCES 5,363.16
SEC. 4.02 (v) ENDING NUMBER OF LOANS 756
ENDING STATED PRINCIPAL BALANCE 231,543,603.88
SEC. 4.02 (vi) SENIOR PERCENTAGE 83.441108%
CLASS B PERCENTAGE 6.201944%
CLASS B1 PERCENTAGE 2.584080%
CLASS B2 PERCENTAGE 1.550104%
CLASS B3 PERCENTAGE 1.033976%
CLASS B4 PERCENTAGE 0.413418%
CLASS B5 PERCENTAGE 0.206709%
CLASS B6 PERCENTAGE 0.413656%
SEC. 4.02 (vii) ENDING RESERVE FUND BALANCE 3,000.00
SEC. 4.02 (viii) CLASS A-8 DISTRIBUTION DEFICIENCY 0.00
PAYMENTS UNDER POLICY 0.00
CLASS A-8 DISTRIBUTION 79,899.17
SEC. 4.02 (ix) DELINQ.& FORECLOSURES CATEGORY NUMBER STAT PRIN BAL
30-59 DAYS 0 0.00
60-89 DAYS 1 231,195.87
90+ DAYS 0 0.00
FORECLOSURE 0 0.00
SEC. 4.02 (x) RECENT REO PROPERTY LOAN # STAT PRIN BAL DATE OF ACQ.
N/A 0.00 N/A
SEC. 4.02 (xi) BOOK VALUE OF REO PROPERTY 0.00
SEC. 4.02 (xii) REMAINING SPECIAL HAZARD AMOUNT 3,714,454.00
REMAINING FRAUD LOSS AMOUNT 4,810,475.00
REMAINING BANKRUPTCY AMOUNT 100,000.00
CLASS UNPAID INTEREST CLASS UNPAID INTEREST
SEC. 4.02 (xiii) CLASS A-1 0.00 CLASS A-10 0.00
CLASS A-2 0.00 CLASS A-R 0.00
CLASS A-3 0.00 CLASS A-RL 0.00
CLASS A-4 0.00 CLASS B-1 0.00
CLASS A-5 0.00 CLASS B-2 0.00
CLASS A-6 0.00 CLASS B-3 0.00
CLASS A-7 0.00 CLASS B-4 0.00
CLASS A-8 0.00 CLASS B-5 0.00
CLASS A-9 0.00 CLASS B-6 0.00
SEC. 4.02 (xiv) SENIOR PREPAYMENT PERCENTAGE 100.000000%
B1 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B2 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B3 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B4 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B5 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
B6 PREPAYMENT DISTRIBUTION PERCENTAGE 0.000000%
SEC. 4.02 (xvi) RECOVERIES ON FORECLOSURES 0.00
SEC. 4.02 (xvii) WEIGHTED AVERAGE REMAINING TERM 350
SEC. 4.02 (xviii) ENDING WEIGHTED AVERAGE MORTGAGE RATE 7.997489%
SEC. 4.02 (xix) GROUP I SENIOR OPTIMAL PRINCIPAL AMOUNT 209,084.34
GROUP II SENIOR OPTIMAL PRINCIPAL AMOUNT 17,548.71
SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT 10,508.51
POOL BALANCE 231,543,603.88
