<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: December 27, 1999
CHASE FUNDING, INC.
(formerly known as "Chemical Mortgage Securities, Inc.")
--------------------------------------------------------
(Exact Name of Registrant)
New York 333-64131 13-3436103
- ---------------------------- ------------------------ -------------------
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
343 Thornall Street, Edison, NJ 08837
---------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (732) 205-0600
<PAGE>
Item 5. Other Events:
On or about 12/27/99, Chase Funding, Inc. (the "Depositor") made the
distributions to holders of its Mortgage Loan Asset-Backed Certificates, Series
1999-1, Series 1999-2 and Series 1999-3 contemplated by the applicable Pooling
and Servicing Agreement for such Series (collectively, the "Pooling and
Servicing Agreement").
Copies of the Certificateholders' Report with respect to such distributions
delivered pursuant to Section 6.02 of the Pooling and Servicing Agreement are
being filed as exhibits to this Current Report on Form 8-K.
Item 7(c). Exhibits
Exhibits Description
-------- -----------
20.1 Monthly Report with respect to the December 27, 1999
distribution
<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.
Dated: December 30, 1999
THE CHASE MANHATTAN BANK,
As Paying Agent, on behalf
of Chase Funding, Inc.
By: /s/ Andrew M. Cooper
------------------------------
Name: Andrew M.Cooper
Title: Trust Officer
<PAGE>
INDEX TO EXHIBITS
-----------------
Exhibit No. Description
- ---------- -----------
20.1 Monthly Report with respect to the distribution
to certificateholders on December 27, 1999.
<PAGE>
- --------------------------------------------------------------------------------
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-1
Statement to Certificateholders
December 27 1999
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION IN DOLLARS
- ----------------------------------------------------------------------------------------------------------------------------------
ORIGINAL PRIOR CURRENT
FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSES INTEREST BALANCE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IA1 56,600,000.00 45,871,147.61 2,797,986.22 228,285.41 3,026,271.63 0.00 0.00 43,073,161.39
IA2 23,800,000.00 23,800,000.00 0.00 119,991.67 119,991.67 0.00 0.00 23,800,000.00
IA3 12,900,000.00 12,900,000.00 0.00 68,316.25 68,316.25 0.00 0.00 12,900,000.00
IA4 12,000,000.00 12,000,000.00 0.00 67,800.00 67,800.00 0.00 0.00 12,000,000.00
IA5 13,000,000.00 13,000,000.00 0.00 68,358.33 68,358.33 0.00 0.00 13,000,000.00
IM1 6,987,000.00 6,987,000.00 0.00 39,534.78 39,534.78 0.00 0.00 6,987,000.00
IM2 2,275,000.00 2,275,000.00 0.00 13,716.35 13,716.35 0.00 0.00 2,275,000.00
IB 2,438,000.00 2,438,000.00 0.00 16,994.89 16,994.89 0.00 0.00 2,438,000.00
IIA1 138,650,000.00 05,309,888.90 4,517,774.41 530,498.57 5,048,272.98 0.00 0.00 100,792,114.49
IIA2 58,750,000.00 58,750,000.00 0.00 291,155.21 291,155.21 0.00 0.00 58,750,000.00
IIM1 17,625,000.00 17,625,000.00 0.00 93,642.60 93,642.60 0.00 0.00 17,625,000.00
IIM2 11,750,000.00 11,750,000.00 0.00 67,689.79 67,689.79 0.00 0.00 11,750,000.00
IIB 8,225,000.00 8,225,000.00 0.00 59,069.21 59,069.21 0.00 0.00 8,225,000.00
R 0.00 0.00 0.00 879,672.14 879,672.14 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
TOTALS 365,000,000.00 320,931,036.51 7,315,760.630 2,544,725.20 9,860,485.83 0.00 0.00 313,615,275.88
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------- ----------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES
- --------------------------------------------------------------------------------------------------- ----------------------
PRIOR CURRENT CURRENT
PRINCIPAL PRINCIPAL PASS THRU
CLASS FACTOR PRINCIPAL INTEREST TOTAL FACTOR CLASS RATE
- --------------------------------------------------------------------------------------------------- ----------------------
<S> <C> <C> <C> <C> <C> <C> <C>
IA1 810.44430406 49.43438551 4.03331113 53.46769664 761.00991855 IA1 5.972000%
IA2 1,000.00000000 .00000000 5.04166681 5.04166681 1,000.00000000 IA2 6.050000%
IA3 1,000.00000000 .00000000 5.29583333 5.29583333 1,000.00000000 IA3 6.355000%
IA4 1,000.00000000 .00000000 5.65000000 5.65000000 1,000.00000000 IA4 6.780000%
- --------------------------------------------------------------------------------------------------- ----------------------
</TABLE>
[IMAGE] (Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- --------------------------------------------------------------------------------
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-1
Statement to Certificateholders
December 27 1999
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------- ----------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES
- --------------------------------------------------------------------------------------------------- ----------------------
PRIOR CURRENT CURRENT
PRINCIPAL PRINCIPAL PASS THRU
CLASS FACTOR PRINCIPAL INTEREST TOTAL FACTOR CLASS RATE
- --------------------------------------------------------------------------------------------------- ----------------------
<S> <C> <C> <C> <C> <C> <C> <C>
IA5 1,000.00000000 .00000000 5.25833308 5.25833308 1,000.00000000 IA5 6.310000%
IM1 1,000.00000000 .00000000 5.65833405 5.65833405 1,000.00000000 IM1 6.790000%
IM2 1,000.00000000 .00000000 6.02916484 6.02916484 1,000.00000000 IM2 7.235000%
IB 1,000.00000000 .00000000 6.97083265 6.97083265 1,000.00000000 IB 8.365000%
IIA1 759.53760476 32.58402027 3.82617072 36.41019098 726.95358449 IIA1 5.850000%
IIA2 1,000.00000000 .00000000 4.95583336 4.95583336 1,000.00000000 IIA2 5.947000%
IIM1 1,000.00000000 .00000000 5.31305532 5.31305532 1,000.00000000 IIM1 6.170000%
IIM2 1,000.00000000 .00000000 5.76083319 5.76083319 1,000.00000000 IIM2 6.690000%
IIB 1,000.00000000 .00000000 7.18166687 7.18166687 1,000.00000000 IIB 8.340000%
- --------------------------------------------------------------------------------------------------- ----------------------
TOTALS 879.26311373 20.04317981 6.97184986 27.01502967 859.21993392
- ---------------------------------------------------------------------------------------------------
</TABLE>
[IMAGE] (Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- --------------------------------------------------------------------------------
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-1
December 27 1999
- --------------------------------------------------------------------------------
<TABLE>
<S> <C> <C>
Sec. 4.05(a)(i)(A) Group 1 Principal Prepayment Amount 2,684,000.08
Group 2 Principal Prepayment Amount 4,411,814.04
Total Principal Prepayment Amount 7,095,814.12
Sec. 4.05(a)(i)(B) Group 1 Scheduled Principal Amount 110,505.90
Group 2 Scheduled Principal Amount 105,960.37
Total Scheduled Principal Amount 216,466.27
Sec. 4.05(a)(i)(C) Group 1 Extra Principal Distribution Amount 3,480.24
Group 2 Extra Principal Distribution Amount 0.00
Total Extra Principal Distribution Amount 3,480.24
Sec. 4.05(a)(iii) Class IA-1 Interest Carryforward Amount 0.00
Class IA-2 Interest Carryforward Amount 0.00
Class IA-3 Interest Carryforward Amount 0.00
Class IA-4 Interest Carryforward Amount 0.00
Class IA-5 Interest Carryforward Amount 0.00
Class IM-1 Interest Carryforward Amount 0.00
Class IM-2 Interest Carryforward Amount 0.00
Class IB Interest Carryforward Amount 0.00
Class IIA-1 Interest Carryforward Amount 0.00
Class IIA-2 Interest Carryforward Amount 0.00
Class IIM-1 Interest Carryforward Amount 0.00
Class IIM-2 Interest Carryforward Amount 0.00
Class IIB Interest Carryforward Amount 0.00
Sec. 4.05(a)(v) Group 1 Beginning Pool Stated Principal Balance 120,116,147.61
Group 2 Beginning Pool Stated Principal Balance 206,359,888.90
Group 1 Ending Pool Stated Principal Balance 117,318,161.39
</TABLE>
[IMAGE] (Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- --------------------------------------------------------------------------------
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-1
December 27 1999
- --------------------------------------------------------------------------------
<TABLE>
<S> <C> <C>
Group 2 Ending Pool Stated Principal Balance 201,842,114.49
Sec. 4.05(a)(vi) Group 1 Subservicer Fee 50,048.39
Group 2 Subservicer Fee 85,983.29
Total Subservicer Fee 136,031.68
Sec. 4.05(a)(vii) Group 1 Master Servicer Fee 910.88
Group 2 Master Servicer Fee 1,564.90
Total Master Servicer Fee 2,475.78
Sec. 4.05(a)(ix) Group 1 Net Mortgage Rate 9.45257618%
Group 2 Net Mortgage Rate 9.31595651%
Sec. 4.05(a)(x) Group 1 Amount of Advances 0.00
Group 2 Amount of Advances 0.00
Total Amount of Advances 0.00
Sec. 4.05(a)(xi) Group 1 Cumulative Applied Realized Loss 0.00
Group 2 Cumulative Applied Realized Loss 0.00
Total Cumulative Applied Realized Loss 0.00
</TABLE>
[IMAGE] (Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- --------------------------------------------------------------------------------
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-1
December 27 1999
- --------------------------------------------------------------------------------
Sec. 4.05(a)(xii)(A) Number and Aggregate Principal Amounts of Mortgage Loans
in Delinquency
----------------------------------------------------------------------
Group 1
----------------------------------------------------------------------
Category Number Principal Balance Percentage
----------------------------------------------------------------------
1 Month 29.00 2,119,561.41 1.81%
----------------------------------------------------------------------
2 Months 14.00 814,371.01 .69%
----------------------------------------------------------------------
3+Months 4.00 221,585.05 .19%
----------------------------------------------------------------------
Total 47.00 3,155,517.47 2.69%
----------------------------------------------------------------------
----------------------------------------------------------------------
Group 2
----------------------------------------------------------------------
Category Number Principal Balance Percentage
----------------------------------------------------------------------
1 Month 31.00 3,225,469.20 1.60%
----------------------------------------------------------------------
2 Months 9.00 1,373,807.98 .68%
----------------------------------------------------------------------
3+Months 16.00 1,761,137.08 .87%
----------------------------------------------------------------------
Total 56.00 6,360,414.26 3.15%
----------------------------------------------------------------------
----------------------------------------------------------------------
Group Totals
----------------------------------------------------------------------
Category Number Principal Balance Percentage
----------------------------------------------------------------------
1 Month 60.00 5,345,030.61 1.67%
----------------------------------------------------------------------
2 Months 23.00 2,188,178.99 .69%
----------------------------------------------------------------------
3+Months 20.00 1,982,722.13 .62%
----------------------------------------------------------------------
Total 103.00 9,515,931.73 2.98%
----------------------------------------------------------------------
Sec. 4.05(a)(xii)(B) Number and Aggregate Principal Amounts of
Mortgage Loans in Foreclosure
----------------------------------------------------
Group 1
----------------------------------------------------
Number Principal Balance Percentage
----------------------------------------------------
26.00 1,449,082.39 1.24%
----------------------------------------------------
----------------------------------------------------
Group 2
----------------------------------------------------
Number Principal Balance Percentage
----------------------------------------------------
24.00 2,715,122.03 1.35%
----------------------------------------------------
----------------------------------------------------
Group Totals
----------------------------------------------------
Number Principal Balance Percentage
----------------------------------------------------
50.00 4,164,204.42 2.58%
----------------------------------------------------
[IMAGE] (Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- --------------------------------------------------------------------------------
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-1
December 27 1999
- --------------------------------------------------------------------------------
Sec. 4.05(a)(xiv) Number and Aggregate Principal Amounts of REO Loans
------------------------------------------------------
REO PROPERTY
------------------------------------------------------
DATE LOAN PRINCIPAL
BECOME REO NUMBER BALANCE
------------------------------------------------------
12/01/1999 grp2 1094202186 176,972.19
------------------------------------------------------
11/01/1999 grp2 1094209072 241,475.34
------------------------------------------------------
10/01/1999 grp2 1094230749 79,564.47
------------------------------------------------------
10/01/1999 grp2 1094248143 44,803.84
------------------------------------------------------
10/01/1999 grp2 1096075501 265,050.13
------------------------------------------------------
Sec. 4.05(xv) & (xvi) Liquidated Loans this Period
- --------------------------------------------------------------------------------
Prepays
- --------------------------------------------------------------------------------
LOAN # DATE PENALTIES PREMIUMS AMOUNT GROUP #
- --------------------------------------------------------------------------------
grp1 1094221963 11/30/1999 .00 .00 103,485.88 1
- --------------------------------------------------------------------------------
Sec. 4.05(a)(xvii) Group 1 Trigger Event NO
Group 2 Trigger Event NO
Sec. 4.05(a)(viii) Class IIA-1 Interest Carryover Amount 0.00
Class IIM-1 Interest Carryover Amount 0.00
Class IIM-2 Interest Carryover Amount 0.00
Class IIB Interest Carryover Amount 0.00
[IMAGE] (Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- --------------------------------------------------------------------------------
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-2
Statement to Certificateholders
December 27, 1999
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------
DISTRIBUTION IN DOLLARS
---------------------------------------------------------------------------------------------------------------
ORIGINAL PRIOR CURRENT
FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE
---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IA1 76,619,000.00 68,582,610.69 2,029,042.76 336,626.31 2,365,669.07 0.00 0.00 66,553,567.93
IA2 52,940,000.00 52,940,000.00 0.00 302,640.33 302,640.33 0.00 0.00 52,940,000.00
IA3 5,000,000.00 5,000,000.00 0.00 30,366.67 30,366.67 0.00 0.00 5,000,000.00
IA4 19,441,000.00 19,441,000.00 0.00 122,559.30 122,559.30 0.00 0.00 19,441,000.00
IA5 24,000,000.00 24,000,000.00 0.00 146,660.00 146,660.00 0.00 0.00 24,000,000.00
IM1 9,000,000.00 9,000,000.00 0.00 56,797.50 56,797.50 0.00 0.00 9,000,000.00
IM2 7,500,000.00 7,500,000.00 0.00 49,181.25 49,181.25 0.00 0.00 7,500,000.00
IB 5,500,000.00 5,500,000.00 0.00 40,104.17 40,104.17 0.00 0.00 5,500,000.00
IIA1 323,950,000.00 298,815,493.13 6,407,052.69 1,502,709.91 7,909,762.60 0.00 0.00 292,408,440.44
IIM1 22,800,000.00 22,800,000.00 0.00 118,781.67 118,781.67 0.00 0.00 22,800,000.00
IIM2 18,050,000.00 18,050,000.00 0.00 100,874.43 100,874.43 0.00 0.00 18,050,000.00
IIB 15,200,000.00 15,200,000.00 0.00 107,852.44 107,852.44 0.00 0.00 15,200,000.00
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
---------------------------------------------------------------------------------------------------------------
TOTALS 580,000,000.00 546,829,103.82 8,436,095.45 2,915,153.98 11,351,249.43 0.00 0.00 538,393,008.37
---------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------- ------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES
-------------------------------------------------------------------------------------- ------------------
PRIOR CURRENT CURRENT
PRINCIPAL PRINCIPAL CLASS PASS-THRU
CLASS CUSIP FACTOR PRINCIPAL INTEREST TOTAL FACTOR RATE
-------------------------------------------------------------------------------------- ------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IA1 161551AP1 895.11231796 26.48224018 4.39350957 30.87574975 868.63007779 IA1 5.700000%
IA2 161551AQ9 1,000.00000000 0.00000000 5.71666660 5.71666660 1,000.00000000 IA2 6.860000%
IA3 161551AR7 1,000.00000000 0.00000000 6.07333400 6.07333400 1,000.00000000 IA3 7.288000%
IA4 161551AS5 1,000.00000000 0.00000000 6.30416645 6.30416645 1,000.00000000 IA4 7.565000%
IA5 161551AT3 1,000.00000000 0.00000000 6.11083333 6.11083333 1,000.00000000 IA5 7.333000%
IM1 161551AU0 1,000.00000000 0.00000000 6.31083333 6.31083333 1,000.00000000 IM1 7.573000%
IM2 161551AV8 1,000.00000000 0.00000000 6.55750000 6.55750000 1,000.00000000 IM2 7.869000%
IB 161551AW6 1,000.00000000 0.00000000 7.29166727 7.29166727 1,000.00000000 IB 8.750000%
IIA1 161551AX4 922.41238812 19.77790613 4.63870940 24.41661553 902.63448199 IIA1 5.840000%
IIM1 161551AY2 1,000.00000000 0.00000000 5.20972237 5.20972237 1,000.00000000 IIM1 6.050000%
IIM2 161551AZ9 1,000.00000000 0.00000000 5.58861108 5.58861108 1,000.00000000 IIM2 6.490000%
IIB 161551BA3 1,000.00000000 0.00000000 7.09555526 7.09555526 1,000.00000000 IIB 8.240000%
-------------------------------------------------------------------------------------- ------------------
TOTALS 942.80879969 14.54499216 5.02612755 19.57111971 928.26380753
--------------------------------------------------------------------------------------
</TABLE>
[Image] (Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-2
December 27, 1999
------------------------------------------------------------------------------------
<S> <C> <C>
Sec. 4.05(a)(i)(A) Group 1 Principal Prepayment Amount 1,414,141.50
Group 2 Principal Prepayment Amount 5,282,547.42
Total Principal Prepayment Amount 6,696,688.92
Sec. 4.05(a)(i)(B) Group 1 Scheduled Principal Amount 176,989.54
Group 2 Scheduled Principal Amount 181,605.60
Total Scheduled Principal Amount 358,595.14
Sec. 4.05(a)(i)(C) Group 1 Extra Principal Distribution Amount 437,911.72
Group 2 Extra Principal Distribution Amount 942,899.67
Total Extra Principal Distribution Amount 1,380,811.38
Sec. 4.05(a)(iii) Class IA-1 Interest Carryforward Amount 0.00
Class IA-2 Interest Carryforward Amount 0.00
Class IA-3 Interest Carryforward Amount 0.00
Class IA-4 Interest Carryforward Amount 0.00
Class IA-5 Interest Carryforward Amount 0.00
Class IM-1 Interest Carryforward Amount 0.00
Class IM-2 Interest Carryforward Amount 0.00
Class IB Interest Carryforward Amount 0.00
Class IIA-1 Interest Carryforward Amount 0.00
Class IIM-1 Interest Carryforward Amount 0.00
Class IIM-2 Interest Carryforward Amount 0.00
Class IIB Interest Carryforward Amount 0.00
Sec. 4.05(a)(v) Group 1 Beginning Pool Stated Principal Balance 193,810,409.42
Group 2 Beginning Pool Stated Principal Balance 359,365,140.18
Group 1 Ending Pool Stated Principal Balance 192,219,278.38
Group 2 Ending Pool Stated Principal Balance 353,900,987.16
Sec. 4.05(a)(vi) Group 1 Subservicer Fee 80,754.34
Group 2 Subservicer Fee 149,735.48
Total Subservicer Fee 230,489.82
Sec. 4.05(a)(vii) Group 1 Master Servicer Fee 1,179.01
Group 2 Master Servicer Fee 2,186.14
Total Master Servicer Fee 3,365.15
Sec. 4.05(a)(ix) Group 1 Net Mortgage Rate 9.42888928%
Group 2 Net Mortgage Rate 9.26005736%
Sec. 4.05(a)(x) Group 1 Amount of Advances 0.00
Group 2 Amount of Advances 0.00
Total Amount of Advances 0.00
Sec. 4.05(a)(xi) Group 1 Cumulative Applied Realized Loss 0.00
Group 2 Cumulative Applied Realized Loss 0.00
Total Cumulative Applied Realized Loss 0.00
------------------------------------------------------------------------------------
</TABLE>
[Image] (Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- --------------------------------------------------------------------------------
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-2
December 27, 1999
- --------------------------------------------------------------------------------
Sec. 4.05(a)(xii)(A) Number and Aggregate Principal Amounts of Mortgage
Loans in Delinquency
-----------------------------------------------------
Group 1
-----------------------------------------------------
Category Number Principal Balance Percentage
-----------------------------------------------------
1 Month 45 3,231,708.87 1.68%
-----------------------------------------------------
2 Months 12 1,167,098.48 0.61%
-----------------------------------------------------
3+ Months 5 363,149.88 0.19%
-----------------------------------------------------
Total 62 4,761,957.23 2.48%
-----------------------------------------------------
-----------------------------------------------------
Group 2
-----------------------------------------------------
Category Number Principal Balance Percentage
-----------------------------------------------------
1 Month 40 4,736,679.79 1.34%
-----------------------------------------------------
2 Months 17 1,789,166.94 0.51%
-----------------------------------------------------
3+Months 2 397,140.88 0.11%
-----------------------------------------------------
Total 59 6,922,987.61 1.96%
-----------------------------------------------------
-----------------------------------------------------
Group Totals
-----------------------------------------------------
Category Number Principal Balance Percentage
-----------------------------------------------------
1 Month 85 7,968,388.66 1.46%
-----------------------------------------------------
2 Months 29 2,956,265.42 0.54%
-----------------------------------------------------
3+ Months 7 760,290.76 0.14%
-----------------------------------------------------
Total 121 11,684,944.84 2.14%
-----------------------------------------------------
Sec. 4.05(a)(xii)(B) Number and Aggregate Principal Amounts of Mortgage
Loans in Foreclosure
-----------------------------------------
Group 1
-----------------------------------------
Number Principal Balance Percentage
-----------------------------------------
24 2,004,989.36 1.04%
-----------------------------------------
-----------------------------------------
Group 2
-----------------------------------------
Number Principal Balance Percentage
-----------------------------------------
27 4,105,108.87 1.16%
-----------------------------------------
-----------------------------------------
Group Totals
-----------------------------------------
Number Principal Balance Percentage
-----------------------------------------
51 6,110,098.23 1.12%
-----------------------------------------
Sec. 4.05(a)(xiv) Number and Aggregate Principal Amounts of REO Loans
-----------------------------------------
Group 1
-----------------------------------------
Number Principal Balance Percentage
-----------------------------------------
0 0.00 0.00%
-----------------------------------------
-----------------------------------------
Group 2
-----------------------------------------
Number Principal Balance Percentage
-----------------------------------------
2 83,650.00 0.02%
-----------------------------------------
-----------------------------------------
Group Totals
-----------------------------------------
Number Principal Balance Percentage
-----------------------------------------
2 83,650.00 0.02%
-----------------------------------------
[Image] (Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- -------------------------------------------------------------------------------
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-2
December 27, 1999
- -------------------------------------------------------------------------------
REO PROPERTY
--------------------------------------------------
DATE BECAME REO LOAN NUMBER PRINCIPAL BALANCE
--------------------------------------------------
12/01/1999 1095157203 GRP2 460,258.73
--------------------------------------------------
12/01/1999 1094260852 GRP2 37,398.43
--------------------------------------------------
<TABLE>
<S> <C> <C>
Sec. 4.05(a)(xv) Group 1 Aggregate Principal Balance of Liquidated Loans 0.00
Group 2 Aggregate Principal Balance of Liquidated Loans 0.00
Total Aggregate Principal Balance of Liquidated Loans 0.00
Sec. 4.05(a)(xvii) Group 1 Trigger Event NO
Group 2 Trigger Event NO
Sec. 4.05(a)(viii) Class IIA-1 Interest Carryover Amount 0.00
Class IIM-1 Interest Carryover Amount 0.00
Class IIM-2 Interest Carryover Amount 0.00
Class IIB Interest Carryover Amount 0.00
</TABLE>
[Image] (Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- --------------------------------------------------------------------------------
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-3
Statement to Certificateholders
December 27, 1999
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
DISTRIBUTION IN DOLLARS
--------------------------------------------------------------------------------------------------------------
ORIGINAL PRIOR CURRENT
FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE
--------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IA1 44,000,000.00 43,452,003.74 522,694.76 217,392.79 740,087.55 0.00 0.00 42,929,308.98
IA2 20,000,000.00 20,000,000.00 0.00 117,700.00 117,700.00 0.00 0.00 20,000,000.00
IA3 16,500,000.00 16,500,000.00 0.00 98,725.00 98,725.00 0.00 0.00 16,500,000.00
IA4 18,000,000.00 18,000,000.00 0.00 113,760.00 113,760.00 0.00 0.00 18,000,000.00
IA5 10,850,000.00 10,850,000.00 0.00 70,886.67 70,886.67 0.00 0.00 10,850,000.00
IA6 12,150,000.00 12,150,000.00 0.00 75,714.75 75,714.75 0.00 0.00 12,150,000.00
IM1 6,750,000.00 6,750,000.00 0.00 44,122.50 44,122.50 0.00 0.00 6,750,000.00
IM2 3,712,000.00 3,712,000.00 0.00 26,061.33 26,061.33 0.00 0.00 3,712,000.00
IB 3,038,000.00 3,038,000.00 0.00 22,785.00 22,785.00 0.00 0.00 3,038,000.00
IIA1 207,025,000.00 203,533,857.06 2,492,595.60 1,037,570.37 3,530,165.97 0.00 0.00 201,041,261.46
IIB 11,025,000.00 11,025,000.00 0.00 79,177.88 79,177.88 0.00 0.00 11,025,000.00
IIM1 15,925,000.00 15,925,000.00 0.00 85,570.33 85,570.33 0.00 0.00 15,925,000.00
IIM2 11,025,000.00 11,025,000.00 0.00 63,892.94 63,892.94 0.00 0.00 11,025,000.00
R 0.00 0.00 0.00 261,561.53 261,561.53 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------
TOTALS 380,000,000.00 375,960,860.80 3,015,290.36 2,314,921.09 5,330,211.45 0.00 0.00 372,945,570.44
--------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------- ------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES
-------------------------------------------------------------------------------------- ------------------
PRIOR CURRENT CURRENT
PRINCIPAL PRINCIPAL CLASS PASS-THRU
CLASS CUSIP FACTOR PRINCIPAL INTEREST TOTAL FACTOR RATE
-------------------------------------------------------------------------------------- ------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IA1 161551BB1 987.54553955 11.87942636 4.94074523 16.82017159 975.66611318 IA1 5.810000%
IA2 161551BC9 1,000.00000000 0.00000000 5.88500000 5.88500000 1,000.00000000 IA2 7.062000%
IA3 161551BD7 1,000.00000000 0.00000000 5.98333333 5.98333333 1,000.00000000 IA3 7.180000%
IA4 161551BE5 1,000.00000000 0.00000000 6.32000000 6.32000000 1,000.00000000 IA4 7.584000%
IA5 161551BF2 1,000.00000000 0.00000000 6.53333364 6.53333364 1,000.00000000 IA5 7.840000%
IA6 161551BG0 1,000.00000000 0.00000000 6.23166667 6.23166667 1,000.00000000 IA6 7.478000%
IM1 161551BH8 1,000.00000000 0.00000000 6.53666667 6.53666667 1,000.00000000 IM1 7.844000%
IM2 161551BJ4 1,000.00000000 0.00000000 7.02083244 7.02083244 1,000.00000000 IM2 8.425000%
IB 161551BK1 1,000.00000000 0.00000000 7.50000000 7.50000000 1,000.00000000 IB 9.000000%
IIA1 161551BL9 983.13661181 12.04007052 5.01181196 17.05188248 971.09654129 IIA1 5.920000%
IIB 161551BM7 1,000.00000000 0.00000000 7.18166712 7.18166712 1,000.00000000 IIB 8.340000%
IIM1 161551BN5 1,000.00000000 0.00000000 5.37333312 5.37333312 1,000.00000000 IIM1 6.240000%
IIM2 161551BP0 1,000.00000000 0.00000000 5.79527800 5.79527800 1,000.00000000 IIM2 6.730000%
-------------------------------------------------------------------------------------- ------------------
TOTALS 989.37068632 7.93497463 6.09189761 14.02687224 981.43571168
--------------------------------------------------------------------------------------
</TABLE>
[Image] (Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- -------------------------------------------------------------------------------
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-3
December 27, 1999
- -------------------------------------------------------------------------------
<TABLE>
<S> <C> <C>
Sec. 4.05(a)(i)(A) Group 1 Principal Prepayment Amount 412,908.48
Group 2 Principal Prepayment Amount 1,769,444.83
Total Principal Prepayment Amount 2,182,353.31
Sec. 4.05(a)(i)(B) Group 1 Scheduled Principal Amount 109,786.28
Group 2 Scheduled Principal Amount 118,262.37
Total Scheduled Principal Amount 228,048.65
Sec. 4.05(a)(i)(C) Group 1 Extra Principal Distribution Amount 0.00
Group 2 Extra Principal Distribution Amount 604,888.40
Total Extra Principal Distribution Amount 604,888.40
Sec. 4.05(a)(iii) Class IA-1 Interest Carryforward Amount 0.00
Class IA-2 Interest Carryforward Amount 0.00
Class IA-3 Interest Carryforward Amount 0.00
Class IA-4 Interest Carryforward Amount 0.00
Class IA-5 Interest Carryforward Amount 0.00
Class IA-6 Interest Carryforward Amount 0.00
Class IM-1 Interest Carryforward Amount 0.00
Class IM-2 Interest Carryforward Amount 0.00
Class IB Interest Carryforward Amount 0.00
Class IIA-1 Interest Carryforward Amount 0.00
Class IIM-1 Interest Carryforward Amount 0.00
Class IIM-2 Interest Carryforward Amount 0.00
Class IIB Interest Carryforward Amount 0.00
Sec. 4.05(a)(v) Group 1 Beginning Pool Stated Principal Balance 134,499,032.32
Group 2 Beginning Pool Stated Principal Balance 242,625,237.49
Group 1 Ending Pool Stated Principal Balance 133,976,337.56
Group 2 Ending Pool Stated Principal Balance 240,737,530.29
Sec. 4.05(a)(vi) Group 1 Subservicer Fee 56,041.26
Group 2 Subservicer Fee 101,093.85
Total Subservicer Fee 157,135.11
Sec. 4.05(a)(vii) Group 1 Master Servicer Fee 1,019.95
Group 2 Master Servicer Fee 1,839.91
Total Master Servicer Fee 2,859.86
Sec. 4.05(a)(ix) Group 1 Net Mortgage Rate 9.35658552%
Group 2 Net Mortgage Rate 9.25427048%
Sec. 4.05(a)(x) Group 1 Amount of Advances 0.00
Group 2 Amount of Advances 0.00
Total Amount of Advances 0.00
Sec. 4.05(a)(xi) Group 1 Cumulative Applied Realized Loss 0.00
Group 2 Cumulative Applied Realized Loss 0.00
Total Cumulative Applied Realized Loss 0.00
</TABLE>
[Image] (Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-3
December 27, 1999
Sec. 4.05(a)(xii)(A) Number and Aggregate Principal Amounts
of Mortgage Loans in Delinquency
----------------------------------------------------
Group 1
----------------------------------------------------
Category Number Principal Balance Percentage
----------------------------------------------------
1 Month 19 1,183,633.67 0.88%
----------------------------------------------------
2 Months 2 122,636.18 0.09%
----------------------------------------------------
3+ Months 2 234,797.17 0.18%
----------------------------------------------------
Total 23 1,541,067.02 1.15%
----------------------------------------------------
----------------------------------------------------
Group 2
----------------------------------------------------
Category Number Principal Balance Percentage
----------------------------------------------------
1 Month 13 1,676,054.72 0.70%
----------------------------------------------------
2 Months 2 202,345.40 0.08%
----------------------------------------------------
3+Months 0 0.00 0.00%
----------------------------------------------------
Total 15 1,878,400.12 0.78%
----------------------------------------------------
----------------------------------------------------
Group Totals
----------------------------------------------------
Category Number Principal Balance Percentage
----------------------------------------------------
1 Month 32 2,859,688.39 0.76%
----------------------------------------------------
2 Months 4 324,981.58 0.09%
----------------------------------------------------
3+ Months 2 234,797.17 0.06%
----------------------------------------------------
Total 38 3,419,467.14 0.91%
----------------------------------------------------
Sec. 4.05(a)(xii)(B) Number and Aggregate Principal Amounts
of Mortgage Loans in Foreclosure
-----------------------------------------
Group 1
-----------------------------------------
Number Principal Balance Percentage
-----------------------------------------
1 42,766.00 0.03%
-----------------------------------------
-----------------------------------------
Group 2
-----------------------------------------
Number Principal Balance Percentage
-----------------------------------------
5 428,500.00 0.18%
-----------------------------------------
-----------------------------------------
Group Totals
-----------------------------------------
Number Principal Balance Percentage
-----------------------------------------
6 471,266.00 0.13%
-----------------------------------------
Sec. 4.05(a)(xiv) Number and Aggregate Principal Amounts of REO Loans
-----------------------------------------
Group 1
-----------------------------------------
Number Principal Balance Percentage
-----------------------------------------
0 0.00 0.00%
-----------------------------------------
-----------------------------------------
Group 2
-----------------------------------------
Number Principal Balance Percentage
-----------------------------------------
0 0.00 0.00%
-----------------------------------------
-----------------------------------------
Group Totals
-----------------------------------------
Number Principal Balance Percentage
-----------------------------------------
0 0.00 0.00%
-----------------------------------------
<TABLE>
<S> <C> <C>
Sec. 4.05(a)(xv) Group 1 Aggregate Principal Balance of Liquidated Loans 0.00
Group 2 Aggregate Principal Balance of Liquidated Loans 0.00
</TABLE>
[Image] (Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- -------------------------------------------------------------------------------
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-3
December 27, 1999
- -------------------------------------------------------------------------------
<TABLE>
<S> <C> <C>
Total Aggregate Principal Balance of Liquidated Loans 0.00
Sec. 4.05(a)(xvii) Group 1 Trigger Event NO
Group 2 Trigger Event NO
Sec. 4.05(a)(viii) Class IIA-1 Interest Carryover Amount 0.00
Class IIM-1 Interest Carryover Amount 0.00
Class IIM-2 Interest Carryover Amount 0.00
Class IIB Interest Carryover Amount 0.00
</TABLE>
[Image] (Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
