<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: November 26, 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 11/26/99, 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 November 26,
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 8, 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 November 26, 1999.
<PAGE>
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-1
Statement to Certificateholders
November 26, 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 56,600,000.00 47,663,061.62 1,791,914.01 237,203.17 2,029,117.18 0.00 0.00 45,871,147.61
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 138,650,000.00 108,998,915.18 3,689,026.28 549,233.42 4,238,259.70 0.00 0.00 105,309,888.90
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 93,823.75 93,823.75 0.00 0.00 17,625,000.00
IIM2 11,750,000.00 11,750,000.00 0.00 67,980.28 67,980.28 0.00 0.00 11,750,000.00
IIB 8,225,000.00 8,225,000.00 0.00 59,649.53 59,649.53 0.00 0.00 8,225,000.00
R 0.00 0.00 0.00 877,813.07 877,813.07 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
TOTALS 365,000,000.00 326,411,976.80 5,480,940.29 2,571,570.70 8,052,510.99 0.00 0.00 320,931,036.51
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------- ------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES
- -------------------------------------------------------------------------------- ------------------
PRIOR CURRENT CURRENT
PRINCIPAL PRINCIPAL CLASS PASS-THRU
CLASS FACTOR PRINCIPAL INTEREST TOTAL FACTOR RATE
- -------------------------------------------------------------------------------- ------------------
<S> <C> <C> <C> <C> <C> <C> <C>
IA1 842.10356219 31.65925813 4.19086873 35.85012686 810.44430406 IA1 5.972000%
IA2 1,000.00000000 0.00000000 5.04166681 5.04166681 1,000.00000000 IA2 6.050000%
IA3 1,000.00000000 0.00000000 5.29583333 5.29583333 1,000.00000000 IA3 6.355000%
IA4 1,000.00000000 0.00000000 5.65000000 5.65000000 1,000.00000000 IA4 6.780000%
IA5 1,000.00000000 0.00000000 5.25833308 5.25833308 1,000.00000000 IA5 6.310000%
IM1 1,000.00000000 0.00000000 5.65833405 5.65833405 1,000.00000000 IM1 6.790000%
IM2 1,000.00000000 0.00000000 6.02916484 6.02916484 1,000.00000000 IM2 7.235000%
IB 1,000.00000000 0.00000000 6.97083265 6.97083265 1,000.00000000 IB 8.365000%
IIA1 786.14435759 26.60675283 3.96129405 30.56804688 759.53760476 IIA1 5.668750%
IIA2 1,000.00000000 0.00000000 4.95583336 4.95583336 1,000.00000000 IIA2 5.947000%
IIM1 1,000.00000000 0.00000000 5.32333333 5.32333333 1,000.00000000 IIM1 5.988750%
IIM2 1,000.00000000 0.00000000 5.78555574 5.78555574 1,000.00000000 IIM2 6.508750%
IIB 1,000.00000000 0.00000000 7.25222249 7.25222249 1,000.00000000 IIB 8.158750%
- -------------------------------------------------------------------------------- ------------------
TOTALS 894.27938849 15.01627477 7.04539918 22.06167395 879.26311373
- --------------------------------------------------------------------------------
</TABLE>
(Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-1
November 26, 1999
Sec. 4.05(a)(i)(A) Group 1 Principal Prepayment Amount 1,681,341.94
Group 2 Principal Prepayment Amount 3,459,386.82
Total Principal Prepayment Amount 5,140,728.76
Sec. 4.05(a)(i)(B) Group 1 Scheduled Principal Amount 110,572.07
Group 2 Scheduled Principal Amount 106,809.75
Total Scheduled Principal Amount 217,381.82
Sec. 4.05(a)(i)(C) Group 1 Extra Principal Distribution Amount 0.00
Group 2 Extra Principal Distribution Amount 20,679.81
Total Extra Principal Distribution Amount 20,679.81
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 121,908,061.62
Group 2 Beginning Pool Stated Principal
Balance 210,048,915.18
Group 1 Ending Pool Stated Principal
Balance 120,116,147.61
Group 2 Ending Pool Stated Principal
Balance 206,359,888.90
Sec. 4.05(a)(vi) Group 1 Subservicer Fee 50,795.03
Group 2 Subservicer Fee 87,520.38
Total Subservicer Fee 138,315.41
Sec. 4.05(a)(vii) Group 1 Master Servicer Fee 924.47
Group 2 Master Servicer Fee 1,592.87
Total Master Servicer Fee 2,517.34
Sec. 4.05(a)(ix) Group 1 Net Mortgage Rate 9.45802405%
Group 2 Net Mortgage Rate 9.32016801%
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
(Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-1
November 26, 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 39 2,852,844.91 2.38%
--------------------------------------------------------------
2 Months 9 616,346.49 0.51%
--------------------------------------------------------------
3+ Months 5 333,078.75 0.28%
--------------------------------------------------------------
Total 53 3,802,270.15 3.17%
--------------------------------------------------------------
--------------------------------------------------------------
Group 2
--------------------------------------------------------------
Category Number Principal Balance Percentage
--------------------------------------------------------------
1 Month 33 3,526,896.52 1.71%
--------------------------------------------------------------
2 Months 10 1,283,627.46 0.62%
--------------------------------------------------------------
3+ Months 11 1,051,209.41 0.51%
--------------------------------------------------------------
Total 54 5,861,733.39 2.84%
--------------------------------------------------------------
--------------------------------------------------------------
Group Totals
--------------------------------------------------------------
Category Number Principal Balance Percentage
--------------------------------------------------------------
1 Month 72 6,379,741.43 1.95%
--------------------------------------------------------------
2 Months 19 1,899,973.95 0.58%
--------------------------------------------------------------
3+ Months 16 1,384,288.16 0.42%
--------------------------------------------------------------
Total 107 9,664,003.54 2.95%
--------------------------------------------------------------
Sec. 4.05(a)(xii)(B)
Number and Aggregate Principal Amounts of Mortgage Loans in Foreclosure
-----------------------------------------------
Group 1
-----------------------------------------------
Number Principal Balance Percentage
-----------------------------------------------
22 1,254,198.96 1.04%
-----------------------------------------------
-----------------------------------------------
Group 2
-----------------------------------------------
Number Principal Balance Percentage
-----------------------------------------------
25 2,684,272.95 1.30%
-----------------------------------------------
-----------------------------------------------
Group Totals
-----------------------------------------------
Number Principal Balance Percentage
-----------------------------------------------
47 3,938,471.91 1.21%
-----------------------------------------------
Sec. 4.05(a)(xiv)
Number and Aggregate Principal Amounts of REO Loans
--------------------------------------------------
REO PROPERTY
--------------------------------------------------
DATE BECAME REO LOAN NUMBER PRINCIPAL BALANCE
--------------------------------------------------
11/01/1999 grp2 1094209072 241,583.55
--------------------------------------------------
10/01/1999 grp2 1094230749 79,587.01
--------------------------------------------------
10/01/1999 grp2 1094248143 44,824.22
--------------------------------------------------
10/01/1999 grp2 1096075501 265,151.39
--------------------------------------------------
Sec. 4.05(xv) & (xvi)
Liquidated Loans this Period
-------------------------------------------------------------------------
Prepays
-------------------------------------------------------------------------
LOAN # DATE PENALTIES PREMIUMS AMOUNT GROUP #
-------------------------------------------------------------------------
grp2 1094220428 10/19/1999 0.00 0.00 122,829.71 2
-------------------------------------------------------------------------
Sec. 4.05(a)(xvii)
Group 1 Trigger Event NO
(Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-1
November 26, 1999
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
(Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-2
Statement to Certificateholders
November 26, 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 69,829,860.13 1,247,249.44 342,554.26 1,589,803.70 0.00 0.00 68,582,610.69
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 323,950,000.00 305,534,629.91 6,719,136.78 1,536,839.19 8,255,975.97 0.00 0.00 298,815,493.13
IIM1 22,800,000.00 22,800,000.00 0.00 118,940.00 118,940.00 0.00 0.00 22,800,000.00
IIM2 18,050,000.00 18,050,000.00 0.00 101,220.39 101,220.39 0.00 0.00 18,050,000.00
IIB 15,200,000.00 15,200,000.00 0.00 108,882.67 108,882.67 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 580,000,000.00 554,795,490.04 7,966,386.22 2,956,745.73 10,923,131.95 0.00 0.00 546,829,103.82
- --------------------------------------------------------------------------------------------------------------------------
</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 911.39090996 16.27859199 4.47087876 20.74947076 895.11231796 IA1 5.518750%
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 943.15366541 20.74127730 4.74406294 25.48534024 922.41238812 IIA1 5.658750%
IIM1 161551AY2 1,000.00000000 0.00000000 5.21666667 5.21666667 1,000.00000000 IIM1 5.868750%
IIM2 161551AZ9 1,000.00000000 0.00000000 5.60777784 5.60777784 1,000.00000000 IIM2 6.308750%
IIB 161551BA3 1,000.00000000 0.00000000 7.16333355 7.16333355 1,000.00000000 IIB 8.058750%
- ------------------------------------------------------------------------------------------------ ------------------
TOTALS 956.54394834 13.73514866 5.09783747 18.83298612 942.80879969
- ------------------------------------------------------------------------------------------------
</TABLE>
(Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-2
November 26, 1999
Sec. 4.05(a)(i)(A) Group 1 Principal Prepayment Amount 632,895.70
Group 2 Principal Prepayment Amount 5,586,436.10
Total Principal Prepayment Amount 6,219,331.80
Sec. 4.05(a)(i)(B) Group 1 Scheduled Principal Amount 175,835.88
Group 2 Scheduled Principal Amount 182,695.11
Total Scheduled Principal Amount 358,530.99
Sec. 4.05(a)(i)(C) Group 1 Extra Principal Distribution Amount 438,517.86
Group 2 Extra Principal Distribution Amount 950,005.57
Total Extra Principal Distribution Amount 1,388,523.43
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 194,619,141.00
Group 2 Beginning Pool Stated Principal
Balance 365,134,271.39
Group 1 Ending Pool Stated Principal
Balance 193,810,409.42
Group 2 Ending Pool Stated Principal
Balance 359,365,140.18
Sec. 4.05(a)(vi) Group 1 Subservicer Fee 81,091.31
Group 2 Subservicer Fee 152,139.28
Total Subservicer Fee 233,230.59
Sec. 4.05(a)(vii) Group 1 Master Servicer Fee 1,183.93
Group 2 Master Servicer Fee 2,221.23
Total Master Servicer Fee 3,405.17
Sec. 4.05(a)(ix) Group 1 Net Mortgage Rate 9.43006329%
Group 2 Net Mortgage Rate 9.25430977%
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
(Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-2
November 26, 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 41 3,604,108.00 1.86%
-----------------------------------------------------------
2 Months 17 1,325,421.00 0.68%
-----------------------------------------------------------
3+ Months 2 275,716.00 0.14%
-----------------------------------------------------------
Total 60 5,205,245.00 2.68%
-----------------------------------------------------------
-----------------------------------------------------------
Group 2
-----------------------------------------------------------
Category Number Principal Balance Percentage
-----------------------------------------------------------
1 Month 36 4,589,919.00 1.28%
-----------------------------------------------------------
2 Months 11 957,525.00 0.27%
-----------------------------------------------------------
3+ Months 1 60,281.00 0.02%
-----------------------------------------------------------
Total 48 5,607,725.00 1.57%
-----------------------------------------------------------
-----------------------------------------------------------
Group Totals
-----------------------------------------------------------
Category Number Principal Balance Percentage
-----------------------------------------------------------
1 Month 77 8,194,027.00 1.48%
-----------------------------------------------------------
2 Months 28 2,282,946.00 0.41%
-----------------------------------------------------------
3+ Months 3 335,997.00 0.06%
-----------------------------------------------------------
Total 108 10,812,970.00 1.95%
-----------------------------------------------------------
Sec. 4.05(a)(xii)(B)
Number and Aggregate Principal Amounts of Mortgage Loans in Foreclosure
--------------------------------------------------------
Group 1
--------------------------------------------------------
Number Principal Balance Percentage
--------------------------------------------------------
13 964,157.00 0.50%
--------------------------------------------------------
--------------------------------------------------------
Group 2
--------------------------------------------------------
Number Principal Balance Percentage
--------------------------------------------------------
16 2,938,686.00 0.82%
--------------------------------------------------------
--------------------------------------------------------
Group Totals
--------------------------------------------------------
Number Principal Balance Percentage
--------------------------------------------------------
29 3,902,843.00 0.71%
--------------------------------------------------------
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%
--------------------------------------------------------
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
(Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-2
November 26, 1999
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
(Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-3
Statement to Certificateholders
November 26, 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 43,571,290.37 119,286.63 218,001.69 337,288.32 0.00 0.00 43,452,003.74
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 207,025,000.00 205,468,333.80 1,934,476.74 1,048,116.80 2,982,593.54 0.00 0.00 203,533,857.06
IIB 11,025,000.00 11,025,000.00 0.00 79,955.75 79,955.75 0.00 0.00 11,025,000.00
IIM1 15,925,000.00 15,925,000.00 0.00 85,764.97 85,764.97 0.00 0.00 15,925,000.00
IIM2 11,025,000.00 11,025,000.00 0.00 64,177.75 64,177.75 0.00 0.00 11,025,000.00
R 0.00 0.00 0.00 457,245.57 457,245.57 0.00 0.00 0.00
- --------------------------------------------------------------------------------------------------------------------------
TOTALS 380,000,000.00 378,014,624.17 2,053,763.37 2,523,017.78 4,576,781.15 0.00 0.00 375,960,860.80
- --------------------------------------------------------------------------------------------------------------------------
</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 990.25659932 2.71105977 4.95458386 7.66564364 987.54553955 IA1 5.628750%
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 992.48078155 9.34416974 5.06275474 14.40692448 983.13661181 IIA1 5.738750%
IIB 161551BM7 1,000.00000000 0.00000000 7.25222222 7.25222222 1,000.00000000 IIB 8.158750%
IIM1 161551BN5 1,000.00000000 0.00000000 5.38555542 5.38555542 1,000.00000000 IIM1 6.058750%
IIM2 161551BP0 1,000.00000000 0.00000000 5.82111111 5.82111111 1,000.00000000 IIM2 6.548750%
- ----------------------------------------------------------------------------------------- ------------------
TOTALS 994.77532676 5.40464045 6.63952047 12.04416092 989.37068632
- ----------------------------------------------------------------------------------------- ------------------
</TABLE>
(Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-3
November 26, 1999
Sec. 4.05(a)(i)(A) Group 1 Principal Prepayment Amount 205,865.17
Group 2 Principal Prepayment Amount 1,215,392.86
Total Principal Prepayment Amount 1,421,258.03
Sec. 4.05(a)(i)(B) Group 1 Scheduled Principal Amount 108,815.26
Group 2 Scheduled Principal Amount 117,761.56
Total Scheduled Principal Amount 226,576.82
Sec. 4.05(a)(i)(C) Group 1 Extra Principal Distribution Amount 0.00
Group 2 Extra Principal Distribution Amount 601,322.32
Total Extra Principal Distribution Amount 601,322.32
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 134,813,712.75
Group 2 Beginning Pool Stated Principal
Balance 243,958,391.91
Group 1 Ending Pool Stated Principal
Balance 134,499,032.32
Group 2 Ending Pool Stated Principal
Balance 242,625,237.49
Sec. 4.05(a)(vi) Group 1 Subservicer Fee 56,115.44
Group 2 Subservicer Fee 101,649.33
Total Subservicer Fee 157,764.77
Sec. 4.05(a)(vii) Group 1 Master Servicer Fee 1,021.30
Group 2 Master Servicer Fee 1,850.02
Total Master Servicer Fee 2,871.32
Sec. 4.05(a)(ix) Group 1 Net Mortgage Rate 9.35825628%
Group 2 Net Mortgage Rate 9.25404314%
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
(Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-3
November 26, 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 15 1,307,380.19 0.97%
---------------------------------------------------------
2 Months 3 144,821.05 0.11%
---------------------------------------------------------
3+ Months 0 0.00 0.00%
---------------------------------------------------------
Total 18 1,452,201.24 1.08%
---------------------------------------------------------
---------------------------------------------------------
Group 2
---------------------------------------------------------
Category Number Principal Balance Percentage
---------------------------------------------------------
1 Month 12 1,207,553.61 0.50%
---------------------------------------------------------
2 Months 0 0.00 0.00%
---------------------------------------------------------
3+ Months 0 0.00 0.00%
---------------------------------------------------------
Total 12 1,207,553.61 0.50%
---------------------------------------------------------
---------------------------------------------------------
Group Totals
---------------------------------------------------------
Category Number Principal Balance Percentage
---------------------------------------------------------
1 Month 27 2,514,933.80 0.67%
---------------------------------------------------------
2 Months 3 144,821.05 0.04%
---------------------------------------------------------
3+ Months 0 0.00 0.00%
---------------------------------------------------------
Total 30 2,659,754.85 0.71%
---------------------------------------------------------
Sec. 4.05(a)(xii)(B)
Number and Aggregate Principal Amounts of Mortgage Loans in Foreclosure
---------------------------------------------
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%
---------------------------------------------
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%
---------------------------------------------
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
(Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 1999-3
November 26, 1999
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
(Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
