LETTERHEAD OF THE CHASE MANHATTAN BANK
September 16, 1996
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Attention: Filing Desk
Re: Chase Mortgage Securities, Inc., Multi-Class
Mortgage Pass-Through Certificates, Series 1996-1
Dear Sirs:
I am sending for filing on behalf of the above-referenced issuer and in
connection with the above-referenced securities a Current Report on Form 8-K
dated September 16, 1996.
Please confirm your receipt of such transmittal.
Very truly yours,
/s/ Martin R. Joyce
Martin R. Joyce
Enclosures
<PAGE>
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: September 16, 1996
Chase 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 33-18640 13-3436103
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
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
<PAGE>
Item 5. Other Events.
On or about August 15, 1996, interest and principal, in accordance with the
Pooling and Servicing Agreement dated as of January 1, 1996 (the "Agreement"),
among Chase Mortgage Securities, Inc., Chase Manhattan Mortgage Corporation, as
the master servicer, and The First National Bank of Chicago as Trustee (the
"Trustee"), were distributed to holders of the Multi-Class Mortgage Pass-Through
Certificates, Series 1996-1 evidencing the entire beneficial ownership interest
in a trust fund consisting of a segregated pool of conventional one- to
four-family fixed rate first-lien mortgage loans. A copy of the Monthly Report,
prepared pursuant to the Agreement, was furnished to the Trustee in accordance
with the Agreement. A copy of the Monthly Report is being filed as Exhibit 20.1
to this Current Report on Form 8-K.
Item 7(c). Exhibits.
Exhibit No. Description
20.1 Monthly Report for the month ended
July 31, 1996.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: September 16, 1996
CHASE MORTGAGE SECURITIES, INC.
By: /s/Louis D. Violante
Name: Louis D. Violante
Title: Chief Financial Officer
<PAGE>
INDEX TO EXHIBITS
Exhibit No. Description
20.1 Monthly Report for the month
ended July 31, 1996
<PAGE>
- ---------------------------------------------------------------------------
CHASE MORTGAGE SECURITIES INC.
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-1
- ---------------------------------------------------------------------------
DISTRIBUTION: 26-Aug-96 Exhibit 20.1
<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 85,796,345.87 124,803.23 518,352.91 643,156.14 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 240,523,752.23 231,780,745.44 237,141.56 1,399,428.87 1,636,570.43 0.00 0.00 231,543,603.88
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------------------------------------------------------------------------------
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 1.37270100 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
<PAGE>
- ------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE SECURITIES, INC.
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-1
- ------------------------------------------------------------------------------------------------------------
DISTRIBUTION: 26-Aug-96
SEC. 4.02 PRINCIPAL PREPAYMENTS 67,653.10
(i) (b)
SEC. 4.02 SERVICING FEE 144,374.17
(ii)
SEC. 4.02 CURRENT ADVANCES 1,787.72
(iv)
OUTSTANDING ADVANCES 5,363.16
SEC. 4.02 ENDING NUMBER OF LOANS 756
(v)
ENDING STATED PRINCIPAL BALANCE 231,543,603.88
SEC. 4.02 SENIOR PERCENTAGE 83.441108%
(vi)
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 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 0 0.00
60-89 DAYS 1 231,195.87
90+ DAYS 0 0.00
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
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 350
(xvii)
SEC. 4.02 ENDING WEIGHTED AVERAGE MORTGAGE 7.997489%
(xviii) RATE
SEC. 4.02 GROUP I SENIOR OPTIMAL PRINCIPAL 209,084.34
(xix) AMOUNT
GROUP II SENIOR OPTIMAL PRINCIPAL 17,548.71
AMOUNT
SUBORDINATE PRINCIPAL DISTRIBUTION 10,508.51
AMOUNT
POOL BALANCE 231,543,603.88
</TABLE>
(C) COPYRIGHT 1996, CHASE BANKING CORPORATION