<PAGE>
Exhibit 20.1
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CHEMICAL MORTGAGE SECURITIES INC.
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-1
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DISTRIBUTION: 25-Sept-96 Page 1
<TABLE>
<CAPTION>
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> <C> <C>
A-1 90,918,000.43 85,671,542.64 139,161.90 517,598.89 656,760.79 0.00 0.00 85,532,380.74
A-2 40,932,000.00 38,570,003.36 62,651.79 224,991.69 287,643.48 0.00 0.00 38,507,351.57
A-3 20,466,000.00 19,285,001.69 31,325.90 124,548.97 155,874.87 0.00 0.00 19,253,675.79
A-4 9,139,000.00 9,138,999.99 0.01 53,310.83 53,310.84 0.00 0.00 9,138,999.98
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 23,980,852.23 17,717.12 144,884.32 162,601.44 0.00 0.00 23,963,135.11
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 5,983,272.39 4,420.46 36,148.94 40,569.40 0.00 0.00 5,978,851.93
B-2 3,607,000.00 3,589,167.38 2,651.69 21,684.55 24,336.24 0.00 0.00 3,586,515.69
B-3 2,406,000.00 2,394,105.00 1,768.77 14,464.38 16,233.15 0.00 0.00 2,392,336.23
B-4 962,000.00 957,243.97 707.21 5,783.35 6,490.56 0.00 0.00 956,536.76
B-5 481,000.00 478,621.99 353.61 2,891.67 3,245.28 0.00 0.00 478,268.38
B-6 962,552.00 957,793.24 707.62 5,786.67 6,494.29 0.00 0.00 957,085.63
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TOTALS 240,523,752.43 231,543,603.88 261,466.08 1,397,996.14 1,659,462.22 0.00 0.00 231,282,137.80
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</TABLE>
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FACTOR INFORMATION PER $1,000 PASS THRU RATES
<TABLE>
<CAPTION>
PRINCIPAL INTEREST END. CERT. CURR PASS
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE
- ------------------------------------------------- ----------------------
<S> <C> <C> <C> <C> <C>
A-1 1.53063089 5.69302985 940.76398881 A-1 7.25%
A-2 1.53063105 5.49671870 940.76398841 A-2 7.00%
A-3 1.53063129 6.08565279 940.76398841 A-3 7.75%
A-4 0.00000109 5.83333297 999.99999781 A-4 7.00%
A-5 0.00000078 6.25000000 999.99999844 A-5 7.50%
A-6 0.00000078 6.66666790 999.99999844 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 0.73515021 6.01179751 994.32095892 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 0.73515051 6.01179777 994.32095959 B-1 7.25%
B-2 0.73515110 6.01179651 994.32095647 B-2 7.25%
B-3 0.73514963 6.01179551 994.32096010 B-3 7.25%
B-4 0.73514553 6.01179834 994.32095634 B-4 7.25%
B-5 0.73515593 6.01178794 994.32095634 B-5 7.25%
B-6 0.73514689 6.01179988 994.32095697 B-6 7.25%
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================================================================================================------------
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE
ADMINISTRATOR LISTED BELOW:
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DIANE WALLACE
CHASE MANHATTAN BANK - STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-8583
<PAGE>
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CHEMICAL MORTGAGE SECURITIES, INC.
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-1
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DISTRIBUTION: 25-Sep-96 Page 2
SEC. 4.02 PRINCIPAL PREPAYMENTS 90,401.07
(i) (b)
SEC. 4.02 SERVICING FEE 144,230.33
(ii)
SEC. 4.02 CURRENT ADVANCES 3,677.75
(iv)
OUTSTANDING ADVANCES 10,930.94
SEC. 4.02 ENDING NUMBER OF LOANS 756
(v)
ENDING STATED PRINCIPAL BALANCE 231,282,137.80
SEC. 4.02 SENIOR PERCENTAGE 83.434635%
(vi)
CLASS B PERCENTAGE 6.204368%
CLASS B1 PERCENTAGE 2.585090%
CLASS B2 PERCENTAGE 1.550710%
CLASS B3 PERCENTAGE 1.034380%
CLASS B4 PERCENTAGE 0.413580%
CLASS B5 PERCENTAGE 0.206790%
CLASS B6 PERCENTAGE 0.413817%
SEC. 4.02 ENDING RESERVE FUND BALANCE 3,000.00
(vii)
SEC. 4.02 CLASS A-8 DISTRIBUTION DEFICIENCY 0.00
(viii)
PAYMENTS UNDER POLICY 0.00
CLASS A-8 DISTRIBUTION 79,899.17
-----------------------------------------------
SEC. 4.02 DELINQ. & FORECLOSURES CATEGORY NUMBER STAT PRIN BAL
(ix)
-----------------------------------------------
------------------------------------
30-59 DAYS 1 241,363.89
60-89 DAYS 0 0.00
90+ DAYS 1 231,045.79
FORECLOSURE 0 0.00
------------------------------------
-----------------------------------------------
SEC. 4.02 RECENT REO PROPERTY LOAN # STAT PRIN DATE OF ACQ.
(x) BAL
-----------------------------------------------
N/A 0.00 N/A
------------------------------------
SEC. 4.02 BOOK VALUE OF REO PROPERTY 0.00
(xi)
SEC. 4.02 REMAINING SPECIAL HAZARD AMOUNT 3,714,454.00
(xii)
REMAINING FRAUD LOSS AMOUNT 4,810,475.00
REMAINING BANKRUPTCY AMOUNT 100,000.00
CLASS UNPAID CLASS UNPAID INTEREST
INTEREST --------------
------------ ------------
SEC. 4.02 CLASS A-1 0.00 CLASS A-10 0.00
(xiii)
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
<PAGE>
Page 3
SEC. 4.02 SENIOR PREPAYMENT PERCENTAGE 100.000000%
(xiv)
B1 PREPAYMENT DISTRIBUTION 0.000000%
PERCENTAGE
B2 PREPAYMENT DISTRIBUTION 0.000000%
PERCENTAGE
B3 PREPAYMENT DISTRIBUTION 0.000000%
PERCENTAGE
B4 PREPAYMENT DISTRIBUTION 0.000000%
PERCENTAGE
B5 PREPAYMENT DISTRIBUTION 0.000000%
PERCENTAGE
B6 PREPAYMENT DISTRIBUTION 0.000000%
PERCENTAGE
SEC. 4.02 RECOVERIES ON FORECLOSURES 0.00
(xvi)
SEC. 4.02 WEIGHTED AVERAGE REMAINING TERM 349
(xvii)
SEC. 4.02 ENDING WEIGHTED AVERAGE MORTGAGE 7.997493%
(xviii) RATE
SEC. 4.02 GROUP I SENIOR OPTIMAL PRINCIPAL 233,139.60
(xix) AMOUNT
GROUP II SENIOR OPTIMAL PRINCIPAL 17,717.12
AMOUNT
SUBORDINATE PRINCIPAL DISTRIBUTION 10,609.36
AMOUNT
POOL BALANCE 231,282,137.80
</TABLE>
(C) COPYRIGHT 1996, CHASE BANKING CORPORATION
