CHASE SECURITIES INC.
NEW ISSUE TERMS
CHASE FUNDING TRUST, SERIES 2000-3
MORTGAGE LOAN ASSET-BACKED CERTIFICATES, SERIES 2000-3
$720,000,000
Chase Funding, Inc. -- Depositor
Advanta Mortgage Corp. USA -- Subservicer
Chase Manhattan Mortgage Corporation -- Seller and Master Servicer
<TABLE>
SUMMARY OF TRANCHES
<CAPTION>
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EXPECTED WEIGHTED
PASS THROUGH FINAL AVERAGE RATINGS
PRINCIPAL BOND RATE MATURITY LIFE TO (S&P
CLASS AMOUNT TYPE DESCRIPTION TO CALL CALL /FITCH)
(1) (YRS) (1)
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<S> <C> <C> <C> <C> <C> <C>
IA-1 45,500,000 SEQ Floating (2) 6/02 0.96 AAA/AAA
IA-2 22,250,000 SEQ Fixed (2) 4/03 2.15 AAA/AAA
IA-3 20,500,000 SEQ Fixed (2) 7/04 3.15 AAA/AAA
IA-4 26,500,000 SEQ Fixed (2) 9/07 5.13 AAA/AAA
IA-5 20,250,000 SEQ Fixed (2)(3) 8/10 9.45 AAA/AAA
IA-6 15,000,000 NAS Fixed (2) 3/10 6.72 AAA/AAA
IM-1 3,600,000 MEZ Fixed (2) 8/10 6.63 AA/AA
IM-2 3,200,000 MEZ Fixed (2) 8/10 6.63 A/A
IB 3,200,000 SUB Fixed (2) 8/10 6.44 BBB/BBB
IIA-1 481,600,000 PASS-THRU Floating 12/07 2.47 AAA/AAA
(3)(4)
IIM-1 30,800,000 MEZ Floating 12/07 4.92 AA/AA
(3)(4)
IIM-2 26,600,000 MEZ Floating 12/07 4.87 A/A
(3)(4)
IIB 21,000,000 SUB Floating 12/07 4.82 BBB/BBB
(3)(4)
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</TABLE>
(1) The Group I Certificates will be priced at 20% HEP while the Group II
Certificates will be priced at 27% CPR. Assumes 10% call by group.
(2) Preliminary, subject to a cap based on the weighted average net loan rate
of the Group I Loans.
(3) If the 10% cleanup call, with respect to the related Loan Group, is not
exercised on the first distribution date on which it is exercisable, the
coupon on the Class IA-5 Certificates will increase by 50 bps per annum,
the margin on the Class IIA-1 Certificates will increase to 2x the IIA-1
margin, and the margin on the Class IIM-1, Class IIM-2 and Class IIB
Certificates will increase to 1.5x their related margins.
(4) Subject to an available funds cap and a cap based on the weighted average
of the net maximum lifetime rates on the Group II Loans.
1
<PAGE>
<TABLE>
COLLATERAL CHARACTERISTICS* - FIXED RATE MORTGAGE LOAN GROUP SUMMARY REPORT
Aggregate Outstanding Principal Balance $110,361,401
Aggregate Original Principal Balance $110,506,075
Number of Mortgage Loans 1,356
<CAPTION>
MINIMUM MAXIMUM AVERAGE(1)
------- ------- ----------
<S> <C> <C> <C>
Original Principal Balance ($): $11,000 $726,000 $81,494
Outstanding Principal Balance ($): $11,000 $725,670 $81,387
<CAPTION>
WEIGHTED
MINIMUM MAXIMUM AVERAGE(2)
------- ------- ----------
<S> <C> <C> <C>
Original Term (months) 120 360 256
Stated Remaining Term (months) 117 360 255
Expected Remaining Term (months) 117 360 255
Loan Age (months) 0 10 1
Current Interest Rate 7.150% 14.375% 10.479%
Original Loan-to-Value 8.57% 95.00% 71.30%
Credit Score (3) 489 806 618
<CAPTION>
EARLIEST LATEST
-------- ------
<S> <C> <C>
Origination Dates 10/1999 08/2000
Maturity Dates 06/2010 09/2030
</TABLE>
* The collateral information contained herein will be superseded by the
description of the collateral contained in the final prospectus.
Notes:
(1) Sum of Principal Balance divided by total number of loans.
(2) Weighted by Outstanding Principal Balance.
(3) Minimum and Weighting only for loans with scores.
2
<PAGE>
<TABLE>
COLLATERAL CHARACTERISTICS* - ADJUSTABLE RATE MORTGAGE LOAN GROUP SUMMARY REPORT
Aggregate Outstanding Principal Balance $372,996,679
Aggregate Original Principal Balance $373,270,000
Number of Mortgage Loans 2,981
<CAPTION>
MINIMUM MAXIMUM AVERAGE(1)
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<S> <C> <C> <C>
Original Principal Balance ($): $13,750 $1,000,000 $125,216
Outstanding Principal Balance ($): $13,750 $1,000,000 $125,125
<CAPTION>
WEIGHTED
MINIMUM MAXIMUM AVERAGE(2)
------- ------- ----------
<S> <C> <C> <C>
Original Term (months) 360 360 360
Stated Remaining Term (months) 353 360 359
Expected Remaining Term (months) 262 360 358
Loan Age (months) 0 7 1
Current Interest Rate 6.450% 14.375% 10.324%
Initial Interest Rate Cap 1.000% 3.000% 2.972%
Periodic Rate Cap 1.000% 1.500% 1.486%
Gross Margin 3.250% 8.750% 5.751%
Maximum Mortgage Rate 13.450% 21.000% 17.314%
Minimum Mortgage Rate 6.450% 14.375% 10.324%
Months to Roll 4 60 28
Original Loan-to-Value 13.74% 95.00% 76.87%
Credit Score (3) 464 798 614
<CAPTION>
EARLIEST LATEST
-------- ------
<S> <C> <C>
Origination Dates 01/2000 08/2000
Maturity Dates 02/2030 09/2030
</TABLE>
* The collateral information contained herein will be superseded by the
description of the collateral contained in the final prospectus.
Notes:
(1) Sum of Principal Balance divided by total number of loans.
(2) Weighted by Outstanding Principal Balance.
(3) Minimum and Weighting only for loans with scores.
3
