CHASE SECURITIES INC.
NEW ISSUE TERMS
CHASE FUNDING TRUST, SERIES 2000-2
MORTGAGE LOAN ASSET-BACKED CERTIFICATES, SERIES 2000-2
$460,000,000
Chase Funding, Inc. - Depositor
Advanta Mortgage Corp. USA - Subservicer
Chase Manhattan Mortgage Corporation - Seller and Master Servicer
SUMMARY OF TRANCHES
<TABLE>
<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(1) CALL (YRS)(1) /FITCH)
----- ------ ---- ----------- -------- ------------- ------
------------- --------------- --------------- --------------- ------------ --------------- -------------
<S> <C> <C> <C> <C> <C> <C>
IA-1 39,000,000 SEQ Floating (2) 03/02 0.96 AAA/AAA
IA-2 18,500,000 SEQ Fixed (2) 01/03 2.15 AAA/AAA
IA-3 17,500,000 SEQ Fixed (2) 04/04 3.14 AAA/AAA
IA-4 20,500,000 SEQ Fixed (2) 05/07 5.11 AAA/AAA
IA-5 16,280,000 SEQ Fixed (2)(3) 05/10 9.42 AAA/AAA
IA-6 12,420,000 NAS Fixed (2) 12/09 6.72 AAA/AAA
IM-1 4,050,000 MEZ Fixed (2) 05/10 6.61 AA/AA
IM-2 3,712,500 MEZ Fixed (2) 05/10 6.61 A/A
IB 3,037,500 SUB Fixed (2) 05/10 6.51 BBB/BBB
IIA-1 279,500,000 PASS-THRU Floating 09/07 2.45 AAA/AAA
(3)(4)
IIM-1 17,875,000 MEZ Floating 09/07 4.92 AA/AA
(3)(4)
IIM-2 15,437,500 MEZ Floating 09/07 4.86 A/A
(3)(4)
IIB 12,187,500 SUB Floating 09/07 4.81 BBB/BBB
(3)(4)
------------- --------------- --------------- --------------- ------------ -------------- --------------
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(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.
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COLLATERAL CHARACTERISTICS* - FIXED RATE MORTGAGE LOAN GROUP SUMMARY REPORT
AGGREGATE OUTSTANDING PRINCIPAL BALANCE $134,566,607
AGGREGATE ORIGINAL PRINCIPAL BALANCE $134,741,349
NUMBER OF MORTGAGE LOANS 1,557
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<CAPTION>
MINIMUM MAXIMUM AVERAGE(1)
------- ------- -------
<S> <C> <C> <C>
ORIGINAL PRINCIPAL BALANCE $10,000 $500,000 $86,539
OUTSTANDING PRINCIPAL BALANCE $9,886 $499,990 $86,427
MINIMUM MAXIMUM WEIGHTED AVERAGE(2)
------- ------- ----------------
ORIGINAL TERM (MOS) 120 360 246
STATED REMAINING TERM (MOS) 115 360 245
EXPECTED REMAINING TERM (MOS) 115 360 245
LOAN AGE (MOS) 0 20 1
CURRENT INTEREST RATE 6.075% 14.900% 10.132%
ORIGINAL LOAN-TO-VALUE 11.30% 95.00% 71.30%
CREDIT SCORE(3) 496 797 622
EARLIEST LATEST
ORIGINATION DATES 09/1998 05/2000
MATURITY DATES 12/2009 06/2030
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The collateral information contained herein will be superseded by the
description of the collateral contained in the final prospectus.
(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.
<PAGE>
COLLATERAL CHARACTERISTICS* - ADJUSTABLE RATE MORTGAGE LOAN GROUP SUMMARY REPORT
AGGREGATE OUTSTANDING PRINCIPAL BALANCE $324,081,488
AGGREGATE ORIGINAL PRINCIPAL BALANCE $324,257,955
NUMBER OF MORTGAGE LOANS 2,647
<TABLE>
<CAPTION>
MINIMUM MAXIMUM AVERAGE(1)
------- ------- -------
<S> <C> <C> <C>
ORIGINAL PRINCIPAL BALANCE $9,375 $845,000 $122,500
OUTSTANDING PRINCIPAL BALANCE $9,363 $844,656 $122,434
MINIMUM MAXIMUM WEIGHTED AVERAGE(2)
------- ------- ----------------
ORIGINAL TERM (MOS) 360 360 360
STATED REMAINING TERM (MOS) 351 360 359
EXPECTED REMAINING TERM (MOS) 326 360 359
LOAN AGE (MOS) 0 9 1
CURRENT INTEREST RATE 6.750% 14.650% 10.179%
INITIAL INTEREST RATE CAP 1.000% 3.000% 2.961%
PERIODIC RATE CAP 1.000% 1.500% 1.482%
GROSS MARGIN 3.250% 8.250% 5.638%
MAXIMUM MORTGAGE RATE 13.750% 21.650% 17.171%
MINIMUM MORTGAGE RATE 6.750% 14.650% 10.179%
MONTHS TO ROLL 4 60 28
ORIGINAL LOAN-TO-VALUE 14.00% 95.00% 76.86%
CREDIT SCORE(3) 491 797 612
EARLIEST LATEST
-------- ------
ORIGINATION DATES 08/1999 05/2000
MATURITY DATES 09/2029 06/2030
</TABLE>
* The collateral information contained herein will be superseded by the
description of the collateral contained in the final prospectus.
(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.
