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 23, 1998
CHASE MORTGAGE FINANCE CORPORATION
--------------------------------------------------
(Exact Name of Registrant)
DELAWARE 33-92950 52-1495132
-------------- ------------- ------------------
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
343 Thornall Street, Edison NJ 08837 32256
----------------------------------------------------
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 8/25/98, Chase Mortgage Finance Corporation Corp.
(the "Depositor") made the distributions to holders of its Mortgage
Pass-Through Certificates, Series 1998-S1, Series 1998-S2, Series 1998-S3,
Series 1998-S4 and Series 1998-AS1 contemplated by the Pooling and
Servicing Agreement dated as of June 1, 1998 (the "Pooling and Servicing
Agreement") among the Depositor, The Chase Mortgage Finance Corporation,
as Servicer and Citibank, N.A. as Trustee.
Copies of the Certificateholders' Reports with respect to such
distributions delivered pursuant to Section 4.02 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 Reports with respect to the
August 25, 1998 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: September 23, 1998
THE CHASE MANHATTAN BANK,
as Paying Agent, on behalf of
Chase Mortgage Finance Corp.
By: /s/ Thomas Mackay
-------------------
Name: Thomas Mackay
Title: Vice President
<PAGE>
INDEX TO EXHIBITS
-----------------
Exhibit No. Description
----------- -----------
20.1 Monthly Reports with respect to the
distribution to Certificateholders on
August 25, 1998.
<PAGE>
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S1
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Aug-98 PAGE # 1
RECORD DATE: 31-Jul-98
- ------------------------------------------------------------------------------------------------------------------------------------
ORIGINAL BEGINNING COMPENSATING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL REALIZED LOSS INTEREST CERTIFICATE
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION PRINCIPAL INTEREST SHORTFALLS BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 156,000,000.00 153,125,042.79 2,099,088.34 861,328.37 2,960,416.71 0.00 0.00 0.00 151,025,954.45
A-2 100,000,000.00 98,432,249.14 1,144,659.67 553,681.40 1,698,341.07 0.00 0.00 0.00 97,287,589.47
A-3 50,000,000.00 49,253,452.72 545,075.46 277,050.67 822,126.13 0.00 0.00 0.00 48,708,377.26
A-4 22,100,000.00 22,100,000.00 0.00 124,312.50 124,312.50 0.00 0.00 0.00 22,100,000.00
A-5 14,058,975.00 14,058,975.00 0.00 75,640.21 75,640.21 0.00 0.00 0.00 14,058,975.00
A-6 4,686,325.00 4,686,325.00 0.00 29,802.10 29,802.10 0.00 0.00 0.00 4,686,325.00
A-7 40,500,000.00 40,500,000.00 0.00 227,812.50 227,812.50 0.00 0.00 0.00 40,500,000.00
A-P 451,538.00 450,577.45 471.74 0.00 471.74 0.00 0.00 0.00 450,105.71
A-R 100.86 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
...M 8,707,712.00 8,694,242.58 6,826.37 48,905.11 55,731.48 0.00 0.00 0.00 8,687,416.21
B-1 3,442,584.00 3,437,258.85 2,698.81 19,334.58 22,033.39 0.00 0.00 0.00 3,434,560.04
B-2 1,822,544.00 1,819,724.87 1,428.75 10,235.95 11,664.70 0.00 0.00 0.00 1,818,296.12
B-3 1,417,534.00 1,415,341.37 1,111.23 7,961.30 9,072.53 0.00 0.00 0.00 1,414,230.14
B-4 810,019.00 808,765.99 635.03 4,549.31 5,184.34 0.00 0.00 0.00 808,130.96
B-5 1,012,573.33 1,011,006.94 793.85 5,686.91 6,480.76 0.00 0.00 0.00 1,010,213.09
--------------
TOTAL 405,009,905.19 399,792,962.70 3,802,789.25 2,246,300.91 6,049,090.16 0.00 0.00 0.00 395,990,173.45
--------------
- --------------------------------------------------------------------------------------------------------------------------
ORIGINAL BEGINNING ENDING
NOTIONAL NOTIONAL INTEREST TOTAL NOTIONAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION BALANCE
- --------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
A-X 377,526,002.16 372,365,449.36 148,896.06 148,896.06 368,591,685.56
- --------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. PASS-THRU
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS RATE
- ------------------------------------------------------------------------------- ----------------------------------
<S> <C> <C> <C> <C> <C>
A-1 13.45569449 5.52133571 968.11509263 A-1 6.75000000%
A-2 11.44659670 5.53681400 972.87589470 A-2 6.75000000%
A-3 10.90150920 5.54101340 974.16754520 A-3 6.75000000%
A-4 0.00000000 5.62500000 1000.00000000 A-4 6.75000000%
A-5 0.00000000 5.38020802 1000.00000000 A-5 6.45625000%
A-6 0.00000000 6.35937542 1000.00000000 A-6 7.63125000%
A-7 0.00000000 5.62500000 1000.00000000 A-7 6.75000000%
A-P 1.04474042 N/A 996.82797461 A-P N/A
A-R 0.00000000 0.00000001 0.00000000 A-R 6.75000000%
A-X N/A 0.39439948 976.33456623 A-X 0.47983880%
M 0.78394531 5.61629852 997.66921667 M 6.75000000%
B-1 0.78394892 5.61629869 997.66920430 B-1 6.75000000%
B-2 0.78393169 5.61629788 997.66925792 B-2 6.75000000%
B-3 0.78391770 5.61630268 997.66929047 B-3 6.75000000%
B-4 0.78396926 5.61630036 997.66914109 B-4 6.75000000%
B-5 0.78399260 5.61629448 997.66906758 B-5 6.75000000%
- ------------------------------------------------------------------------------- ----------------------------------
<PAGE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S1
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Aug-98 PAGE # 2
RECORD DATE: 31-Jul-98
<S> <C> <C>
SECTION 6.02 (iii) AGGREGATE PRINCIPAL PREPAYMENT AMOUNT 3,488,834.57
AGGREGATE REPURCHASE PROCEEDS AMOUNT 0.00
SECTION 6.02 (iv) AGGREGATE SERVICER ADVANCES 87,810.33
SECTION 6.02 (iv) NUMBER OF OUTSTANDING MORTGAGE LOANS 1,395
ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL 395,990,173.45
SECTION 6.02 (vi) SERVICING FEES 103,613.05
SECTION 6.02 (vii) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
-------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
-------------------------------------------------------------------------------------
1 MONTH 7 1,740,033.71
2 MONTHS 3 678,985.43
3+ MONTHS 0 0.00
FORECLOSURE 0 0.00
-------------------------------------------------------------------------------------
SECTION 6.02 (viii) MORTGAGE LOANS ACQUIRED THROUGH FORECLOSURE
-------------------------------------------------------------
COUNT AGG. PRIN. BAL.
-------------------------------------------------------------
0 0.00
-------------------------------------------------------------
SECTION 6.02 (ix) AGGREGATE AMOUNT OF ALL ADVANCES RECOVERED DURING THE RELATED 0.00
DUE PERIOD
-------------------------------------------------------------------------------------
SECTION 6.02 (x) CLASS PERCENTAGE PRINCIPAL BALANCE
------------------------ -----------------------------------------
-------------------------------------------------------------------------------------
CLASS A 95.70% 382,606,622.10
CLASS M 2.17% 8,694,242.58
CLASS B 2.12% 8,492,098.02
-------------------------------------------------------------------------------------
NON-PO CLASS A PERCENTAGE 95.70%
NON-PO CLASS A PREPAYMENT PERCENTAGE 100.00%
CREDIT SUPPORT LEVEL
-------------------------------------------------------------
CLASS CREDIT SUPPORT
-------------------------------------------------------------
M 2.12%
B-1 1.26%
B-2 0.81%
B-3 0.46%
B-4 0.25%
-------------------------------------------------------------
SECTION 6.02 (xi) CURRENT AGGREGATE AMOUNT OF REALIZED LOSSES 0.00
CUMULATIVE AGGREGATE AMOUNT REALIZED LOSSES 0.00
<PAGE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S2
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Aug-98
RECORD DATE: 31-Jul-98
- ------------------------------------------------------------------------------------------------------------------------------------
ORIGINAL BEGINNING COMPENSATING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL REALIZED LOSS INTEREST CERTIFICATE
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION PRINCIPAL INTEREST SHORTFALLS BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 70,900,000.00 70,900,000.00 0.00 384,041.67 384,041.67 0.00 0.00 0.00 70,900,000.00
A-2 42,347,000.00 42,347,000.00 0.00 229,379.58 229,379.58 0.00 0.00 0.00 42,347,000.00
A-3 59,497,000.00 59,497,000.00 0.00 327,233.50 327,233.50 0.00 0.00 0.00 59,497,000.00
A-5 46,300,000.00 46,090,581.07 240,706.98 268,861.72 509,568.70 0.00 0.00 0.00 45,849,874.09
A-6 CP1 13,800,000.00 13,737,581.39 71,744.20 80,135.89 151,880.09 0.00 0.00 0.00 13,665,837.19
A-6 CP2 21,900,000.00 21,789,977.11 157,886.01 127,108.20 284,994.21 0.00 0.00 0.00 21,632,091.10
A-7 7,000,000.00 6,415,850.62 955,094.84 0.00 955,094.84 0.00 0.00 0.00 5,498,181.58
A-8 500,000.00 502,916.67 0.00 0.00 0.00 0.00 0.00 0.00 505,850.35
A-9 127,600,000.00 127,072,110.59 597,156.63 741,253.98 1,338,410.61 0.00 0.00 0.00 126,474,953.96
A-10 15,600,000.00 14,444,496.19 1,886,427.59 0.00 1,886,427.59 0.00 0.00 0.00 12,642,328.16
A-11 7,599,000.00 7,643,327.50 0.00 0.00 0.00 0.00 0.00 0.00 7,687,913.58
A-12 985,000.00 990,745.83 0.00 0.00 0.00 0.00 0.00 0.00 996,525.18
A-13 8,937,320.00 8,841,154.70 138,300.14 N/A 138,300.14 0.00 0.00 0.00 8,702,854.56
A-14 84,278,300.00 84,278,300.00 0.00 474,065.44 474,065.44 0.00 0.00 0.00 84,278,300.00
A-P 237,974.00 237,766.10 232.65 N/A 232.65 0.00 0.00 0.00 237,533.45
A-R 100.95 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
M 11,396,000.00 11,387,370.58 8,732.55 64,053.96 72,786.51 0.00 0.00 0.00 11,378,638.03
B-1 4,505,000.00 4,501,588.67 3,452.10 25,321.44 28,773.54 0.00 0.00 0.00 4,498,136.57
B-2 2,385,000.00 2,383,194.00 1,827.58 13,405.47 15,233.05 0.00 0.00 0.00 2,381,366.42
B-3 1,855,000.00 1,853,595.33 1,421.45 10,426.47 11,847.92 0.00 0.00 0.00 1,852,173.88
B-4 1,061,000.00 1,060,196.58 813.03 5,963.61 6,776.64 0.00 0.00 0.00 1,059,383.55
B-5 1,325,030.44 1,324,027.08 1,015.35 7,447.65 8,463.00 0.00 0.00 0.00 1,323,011.73
---- --------------
--------------
TOTAL 530,008,725.39 527,298,780.01 4,064,811.10 2,758,698.58 6,823,509.68 0.00 0.00 0.00 523,408,953.38
--------------
- ------------------------------------------------------------------------------------------------------------------------
ORIGINAL BEGINNING ENDING
NOTIONAL NOTIONAL INTEREST TOTAL NOTIONAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION BALANCE
- ------------------------------------------------------------------------------------------------------------------------
A-4 5,516,488.89 5,516,488.89 31,030.25 31,030.25 5,516,488.89
A-X 511,626,605.16 508,932,808.89 200,250.55 200,250.55 505,061,610.13
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. PASS-THRU
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS RATE
- ------------------------------------------------------------------------------- ---------------------------------
<S> <C> <C> <C> <C> <C>
A-1 0.00000000 5.41666671 1000.00000000 A-1 6.50000000%
A-2 0.00000000 5.41666659 1000.00000000 A-2 6.50000000%
A-3 0.00000000 5.50000000 1000.00000000 A-3 6.60000000%
A-4 N/A 5.62500000 1000.00000000 A-4 6.75000000%
A-5 5.19885486 5.80694860 990.27805810 A-5 7.00000000%
A-6 CP1 5.19885507 5.80694855 990.27805725 A-6 CP1 7.00000000%
A-6 CP2 7.20940685 5.80402740 987.76671689 A-6 CP2 7.00000000%
A-7 136.44212000 0.00000000 785.45451143 A-7 7.00000000%
A-8 0.00000000 0.00000000 1011.70070000 A-8 7.00000000%
A-9 4.67991089 5.80920047 991.18302476 A-9 7.00000000%
A-10 120.92484551 0.00000000 810.40565128 A-10 7.00000000%
A-11 0.00000000 0.00000000 1011.70069483 A-11 7.00000000%
A-12 0.00000000 0.00000000 1011.70069036 A-12 7.00000000%
A-13 15.47445319 N/A 973.76557626 A-13 N/A
A-14 0.00000000 5.62500003 1000.00000000 A-14 6.75000000%
A-P 0.97762781 N/A 998.14874734 A-P N/A
A-R 0.00000000 0.00000000 0.00000000 A-R 6.75000000%
A-X N/A 0.39139980 987.16838616 A-X 0.47215000%
M 0.76628203 5.62074061 998.47648561 M 6.75000000%
B-1 0.76628191 5.62074140 998.47648613 B-1 6.75000000%
B-2 0.76628092 5.62074214 998.47648637 B-2 6.75000000%
B-3 0.76628032 5.62073854 998.47648518 B-3 6.75000000%
B-4 0.76628652 5.62074458 998.47648445 B-4 6.75000000%
B-5 0.76628428 5.62073880 998.47648028 B-5 6.75000000%
- ------------------------------------------------------------------------------- ---------------------------------
<PAGE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S2
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Aug-98 PAGE # 2
RECORD DATE: 31-Jul-98
<S> <C> <C>
SECTION 6.02 (iii) AGGREGATE PRINCIPAL PREPAYMENT AMOUNT 3,485,440.95
AGGREGATE REPURCHASE PROCEEDS AMOUNT 0.00
SECTION 6.02 (iv) AGGREGATE SERVICER ADVANCES 0.00
SECTION 6.02 (iv) NUMBER OF OUTSTANDING MORTGAGE LOANS 1,751
ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL 523,408,953.38
SECTION 6.02 (vi) SERVICING FEES 135,559.82
SECTION 6.02 (vii) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
-------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
-------------------------------------------------------------------------------------
1 MONTH 9 3,285,818.63
2 MONTHS 0 0.00
3+ MONTHS 0 0.00
FORECLOSURE 0 0.00
-------------------------------------------------------------------------------------
SECTION 6.02 (viii) MORTGAGE LOANS ACQUIRED THROUGH FORECLOSURE
-------------------------------------------------------------
COUNT AGG. PRIN. BAL.
-------------------------------------------------------------
0 0.00
-------------------------------------------------------------
SECTION 6.02 (ix) AGGREGATE AMOUNT OF ALL ADVANCES RECOVERED DURING THE RELATED 0.00
DUE PERIOD
-----------------------------------------------------------------------------
SECTION 6.02 (x) CLASS PERCENTAGE PRINCIPAL BALANCE
---------------- -----------------------------------------
-----------------------------------------------------------------------------
CLASS A 95.73% 504,788,807.77
CLASS M 2.16% 11,387,370.58
CLASS B 2.11% 11,122,601.66
-----------------------------------------------------------------------------
NON-PO CLASS A PERCENTAGE 95.72915%
NON-PO CLASS A PREPAYMENT PERCENTAGE 100.00000%
CREDIT SUPPORT LEVEL
-------------------------------------------------------
CLASS CREDIT SUPPORT
-------------------------------------------------------
-----------------------------------------
M 2.11%
B-1 1.26%
B-2 0.80%
B-3 0.45%
B-4 0.25%
-------------------------------------------------------
SECTION 6.02 (xi) CURRENT AGGREGATE AMOUNT OF REALIZED LOSSES 0.00
CUMULATIVE AGGREGATE AMOUNT REALIZED LOSSES 0.00
<PAGE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S3
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Aug-98 PAGE # 1
RECORD DATE: 31-Jul-98
- ------------------------------------------------------------------------------------------------------------------------------------
ORIGINAL BEGINNING COMPENSATING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL REALIZED LOSS INTEREST CERTIFICATE
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION PRINCIPAL INTEREST SHORTFALLS BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 61,642,000.00 60,959,680.07 291,652.25 330,198.27 621,850.52 0.00 0.00 0.00 60,668,027.82
A-2 7,000,000.00 7,000,000.00 0.00 37,916.67 37,916.67 0.00 0.00 0.00 7,000,000.00
A-3 94,261,000.00 93,324,020.33 400,504.53 505,505.11 906,009.64 0.00 0.00 0.00 92,923,515.80
A-4 11,300,000.00 11,300,000.00 0.00 61,208.33 61,208.33 0.00 0.00 0.00 11,300,000.00
A-5 44,896,000.00 44,750,322.47 147,132.03 242,397.58 389,529.61 0.00 0.00 0.00 44,603,190.44
A-P 551,754.00 549,917.21 2,119.75 N/A 2,119.75 0.00 0.00 0.00 547,797.46
A-R 100.36 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
M 2,475,575.00 2,467,542.31 8,112.89 13,365.85 21,478.74 0.00 0.00 0.00 2,459,429.42
B-1 787,683.00 785,127.15 2,581.37 4,252.77 6,834.14 0.00 0.00 0.00 782,545.78
B-2 675,156.00 672,965.27 2,212.61 3,645.23 5,857.84 0.00 0.00 0.00 670,752.66
B-3 675,156.00 672,965.27 2,212.61 3,645.23 5,857.84 0.00 0.00 0.00 670,752.66
B-4 337,578.00 336,482.64 1,106.30 1,822.61 2,928.91 0.00 0.00 0.00 335,376.34
B-5 450,295.59 448,834.48 1,475.70 2,431.19 3,906.89 0.00 0.00 0.00 447,358.78
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 225,052,297.95 223,267,857.20 859,110.04 1,206,388.84 2,065,498.88 0.00 0.00 0.00 222,408,747.16
- ------------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
ORIGINAL BEGINNING ENDING
NOTIONAL NOTIONAL INTEREST TOTAL NOTIONAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION BALANCE
- --------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
A-X 198,278,988.72 198,278,988.72 62,379.55 62,379.55 195,838,962.27
- --------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. PASS-THRU
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS RATE
- ------------------------------------------------------------------------------- ----------------------------------
<S> <C> <C> <C> <C> <C>
A-1 4.73138850 5.35670922 984.19953636 A-1 6.50000000%
A-2 0.00000000 5.41666714 1000.00000000 A-2 6.50000000%
A-3 4.24888904 5.36282354 985.81084224 A-3 6.50000000%
A-4 0.00000000 5.41666637 1000.00000000 A-4 6.50000000%
A-5 3.27717458 5.39909079 993.47804793 A-5 6.50000000%
A-P 3.84183894 N/A 992.82915937 A-P N/A
A-R 0.00000000 0.00000000 0.00000000 A-R 6.50000000%
A-X N/A 0.31460494 987.69397370 A-X 0.38078000%
M 3.27717399 5.39908910 993.47804853 M 6.50000000%
B-1 3.27716861 5.39908821 993.47806161 B-1 6.50000000%
B-2 3.27718335 5.39909295 993.47804063 B-2 6.50000000%
B-3 3.27718335 5.39909295 993.47804063 B-3 6.50000000%
B-4 3.27716854 5.39907814 993.47807025 B-4 6.50000000%
B-5 3.27718066 5.39909796 993.47803961 B-5 6.50000000%
- ------------------------------------------------------------------------------- ----------------------------------
<PAGE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S3
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Aug-98 PAGE # 2
RECORD DATE: 31-Jul-98
<S> <C> <C>
SECTION 6.02 (iii) AGGREGATE PRINCIPAL PREPAYMENT AMOUNT 124,983.85
AGGREGATE REPURCHASE PROCEEDS AMOUNT 0.00
SECTION 6.02 (iv) AGGREGATE SERVICER ADVANCES 38,775.72
SECTION 6.02 (v) NUMBER OF OUTSTANDING MORTGAGE LOANS 783
ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL 222,408,747.16
SECTION 6.02 (vi) SERVICING FEES 58,979.82
SECTION 6.02 (vii) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
-------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
-------------------------------------------------------------------------
1 MONTH 2 452,628.05
2 MONTHS 0 0.00
3+ MONTHS 0 0.00
FORECLOSURE 0 0.00
-------------------------------------------------------------------------
SECTION 6.02 (viii) MORTGAGE LOANS ACQUIRED THROUGH FORECLOSURE
-------------------------------------------------------------
COUNT AGG. PRIN. BAL.
-------------------------------------------------------------
0 0.00
-------------------------------------------------------------
SECTION 6.02 (ix) AGGREGATE AMOUNT OF ALL ADVANCES RECOVERED DURING THE RELATED 0.00
DUE PERIOD
-------------------------------------------------------------------------------------
SECTION 6.02 (x) CLASS PERCENTAGE PRINCIPAL BALANCE
------------------------ -----------------------------------------
-------------------------------------------------------------------------------------
CLASS A 97.59% 217,883,940.08
CLASS M 1.11% 2,467,542.31
CLASS B 1.31% 2,916,374.81
-------------------------------------------------------------------------------------
NON-PO CLASS A PERCENTAGE 97.58%
NON-PO CLASS A PREPAYMENT PERCENTAGE 100.00%
CREDIT SUPPORT LEVEL
-------------------------------------------------------------
CLASS CREDIT SUPPORT
-------------------------------------------------------------
M 1.31%
B-1 0.95%
B-2 0.65%
B-3 0.35%
B-4 0.20%
-------------------------------------------------------------
SECTION 6.02 (xi) CURRENT AGGREGATE AMOUNT OF REALIZED LOSSES 0.00
CUMULATIVE AGGREGATE AMOUNT REALIZED LOSSES 0.00
<PAGE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S4
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Aug-98 PAGE # 1
RECORD DATE: 31-Jul-98
- ------------------------------------------------------------------------------------------------------------------------------------
ORIGINAL BEGINNING COMPENSATING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL REALIZED LOSS INTEREST CERTIFICATE
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION PRINCIPAL INTEREST SHORTFALLS BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 .. 25,000,000.00 25,000,000.00 0.00 136,458.33 136,458.33 0.00 0.00 0.00 25,000,000.00
A-2 .. 25,850,000.00 25,850,000.00 0.00 140,020.83 140,020.83 0.00 0.00 0.00 25,850,000.00
A-3 .. 66,951,000.00 66,951,000.00 0.00 365,440.88 365,440.88 0.00 0.00 0.00 66,951,000.00
A-4 .. 61,548,000.00 61,548,000.00 0.00 335,949.50 335,949.50 0.00 0.00 0.00 61,548,000.00
A-6 .. 8,590,000.00 8,590,000.00 39,217.14 57,266.67 96,483.81 0.00 0.00 0.00 8,550,782.86
A-7 .. 79,810,000.00 79,810,000.00 364,367.83 462,232.92 826,600.75 0.00 0.00 0.00 79,445,632.17
A-8 .. 15,000,000.00 15,000,000.00 68,481.61 87,500.00 155,981.61 0.00 0.00 0.00 14,931,518.39
A-9 .. 46,000,000.00 46,000,000.00 210,010.28 264,500.00 474,510.28 0.00 0.00 0.00 45,789,989.72
A-10 CP1 31,500,000.00 31,500,000.00 153,245.17 185,062.50 338,307.67 0.00 0.00 0.00 31,346,754.83
A-10 CP2 8,500,000.00 8,500,000.00 38,806.25 49,937.50 88,743.75 0.00 0.00 0.00 8,461,193.75
A-11 CP1 31,500,000.00 31,500,000.00 153,245.17 182,437.50 335,682.67 0.00 0.00 0.00 31,346,754.83
A-11 CP2 8,500,000.00 8,500,000.00 38,806.25 49,229.17 88,035.42 0.00 0.00 0.00 8,461,193.75
A-12 . 19,409,000.00 19,409,000.00 5,330,765.37 0.00 5,330,765.37 0.00 0.00 0.00 14,191,453.80
A-13 . 1,350,000.00 1,350,000.00 0.00 0.00 0.00 0.00 0.00 0.00 1,357,875.00
A-14 . 9,265,280.00 9,265,280.00 232,442.23 N/A 232,442.23 0.00 0.00 0.00 9,032,837.77
A-15 . 87,450,000.00 87,450,000.00 0.00 491,906.25 491,906.25 0.00 0.00 0.00 87,450,000.00
A-P .. 403,517.00 403,517.00 340.15 N/A 340.15 0.00 0.00 0.00 403,176.85
A-R .. 100.11 100.11 100.11 0.56 100.67 0.00 0.00 0.00 0.00
M ... 11,825,000.00 11,825,000.00 8,981.17 66,515.63 75,496.80 0.00 0.00 0.00 11,816,018.83
B-1 .. 4,675,000.00 4,675,000.00 3,550.70 26,296.88 29,847.58 0.00 0.00 0.00 4,671,449.30
B-2 .. 2,475,000.00 2,475,000.00 1,879.78 13,921.88 15,801.66 0.00 0.00 0.00 2,473,120.22
B-3 .. 1,925,000.00 1,925,000.00 1,462.05 10,828.13 12,290.18 0.00 0.00 0.00 1,923,537.95
B-4 .. 1,100,000.00 1,100,000.00 835.46 6,187.50 7,022.96 0.00 0.00 0.00 1,099,164.54
B-5 .. 1,375,121.80 1,375,121.80 1,044.41 7,735.06 8,779.47 0.00 0.00 0.00 1,374,077.39
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 550,002,018.91 550,002,018.91 6,647,581.13 2,939,427.69 9,587,008.82 0.00 0.00 0.00 543,475,531.95
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
ORIGINAL BEGINNING ENDING
NOTIONAL NOTIONAL INTEREST TOTAL NOTIONAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
A-5 5,505,525.93 5,505,525.93 30,968.58 30,968.58 5,505,525.93
A-X 523,531,639.82 523,531,639.82 197,648.75 197,648.75 517,027,263.34
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. PASS-THRU
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS RATE
- -------------------------------------------------------------------------------- -------------------------------------
<S> <C> <C> <C> <C> <C>
A-1 0.00000000 5.45833320 1000.00000000 A-1 6.55000000%
A-2 0.00000000 5.41666654 1000.00000000 A-2 6.50000000%
A-3 0.00000000 5.45833341 1000.00000000 A-3 6.55000000%
A-4 0.00000000 5.45833333 1000.00000000 A-4 6.55000000%
A-5 N/A 5.62499939 1000.00000000 A-5 6.75000000%
A-6 4.56544121 6.66666705 995.43455879 A-6 8.00000000%
A-7 4.56544080 5.79166671 995.43455920 A-7 6.95000000%
A-8 4.56544067 5.83333333 995.43455933 A-8 7.00000000%
A-9 4.56544087 5.75000000 995.43455913 A-9 6.90000000%
A-10 CP1 4.56544087 5.75000000 995.43455913 A-10 CP1 7.05000000%
A-10 CP2 4.56544118 5.87500000 995.43455882 A-10 CP2 7.05000000%
A-11 CP1 4.56544118 5.87500000 995.43455882 A-11 CP1 6.95000000%
A-11 CP2 4.56544118 5.79166706 995.43455882 A-11 CP2 6.95000000%
A-12 274.65430316 0.00000000 731.17903035 A-12 7.00000000%
A-13 0.00000000 0.00000000 1005.83333333 A-13 7.00000000%
A-14 25.08744798 N/A 974.91255202 A-14 N/A
A-15 0.84296325 5.62500000 999.15703675 A-15 6.75000000%
A-P 0.84296325 N/A 999.15703675 A-P N/A
A-R 1000.00000000 5.59384677 0.00000000 A-R 6.75000000%
A-X N/A 0.37752971 987.57596297 A-X 0.45303000%
M 0.75950698 5.62500042 999.24049302 M 6.75000000%
B-1 0.75950802 5.62500107 999.24049198 B-1 6.75000000%
B-2 0.75950707 5.62500202 999.24049293 B-2 6.75000000%
B-3 0.75950649 5.62500260 999.24049351 B-3 6.75000000%
B-4 0.75950909 5.62500000 999.24049091 B-4 6.75000000%
B-5 0.75950363 5.62499991 999.24049637 B-5 6.75000000%
- ------------------------------------------------------------------------------ -------------------------------------
<PAGE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S4
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Aug-98 PAGE # 2
RECORD DATE: 31-Jul-98
<S> <C> <C>
SECTION 6.02 (iii) AGGREGATE PRINCIPAL PREPAYMENT AMOUNT 6,108,723.21
AGGREGATE REPURCHASE PROCEEDS AMOUNT 0.00
SECTION 6.02 (iv) AGGREGATE SERVICER ADVANCES 0.00
SECTION 6.02 (iv) NUMBER OF OUTSTANDING MORTGAGE LOANS 1,743
ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL 543,475,531.95
SECTION 6.02 (vi) SERVICING FEES 140,846.14
SECTION 6.02 (vii) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
---------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
---------------------------------------------------------------------------------------
1 MONTH 0 0.00
2 MONTHS 0 0.00
3+ MONTHS 0 0.00
FORECLOSURE 0 0.00
---------------------------------------------------------------------------------------
SECTION 6.02 (viii) MORTGAGE LOANS ACQUIRED THROUGH FORECLOSURE
----------------------------------------------------------
COUNT AGG. PRIN. BAL.
----------------------------------------------------------
0 0.00
----------------------------------------------------------
SECTION 6.02 (ix) AGGREGATE AMOUNT OF ALL ADVANCES RECOVERED DURING THE RELATED 0.00
DUE PERIOD
---------------------------------------------------------------------------------------
SECTION 6.02 (x) CLASS PERCENTAGE PRINCIPAL BALANCE
----------------------------- -----------------------------
---------------------------------------------------------------------------------------
CLASS A 95.75% 526,626,897.11
CLASS M 2.15% 11,825,000.00
CLASS B 2.10% 11,550,121.80
---------------------------------------------------------------------------------------
NON-PO CLASS A PERCENTAGE 95.74687%
NON-PO CLASS A PREPAYMENT PERCENTAGE 100.00000%
CREDIT SUPPORT LEVEL
-------------------------------------------------
M 2.10%
B-1 1.25%
B-2 0.80%
B-3 0.45%
B-4 0.25%
-------------------------------------------------
SECTION 6.02 (xi) CURRENT AGGREGATE AMOUNT OF REALIZED LOSSES 0.00
CUMULATIVE AGGREGATE AMOUNT REALIZED LOSSES 0.00
<PAGE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-AS1
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Aug-98 PAGE # 1
RECORD DATE: 31-Jul-98
- ------------------------------------------------------------------------------------------------------------------------------------
ORIGINAL BEGINNING COMPENSATING ENDING
CERTIFICAT CERTIFICATE PRINCIPAL INTEREST TOTAL EALIZED LOSS INTEREST CERTIFICATE
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION PRINCIPAL INTEREST SHORTFALLS BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
IA-1 40,980,752.00 40,980,752.00 253,113.44 230,516.73 483,630.17 0.00 0.00 0.00 40,727,638.56
IA-2 14,725,947.00 14,725,947.00 0.00 82,833.45 82,833.45 0.00 0.00 0.00 14,725,947.00
IA-3 16,250,000.00 16,250,000.00 0.00 91,406.25 91,406.25 0.00 0.00 0.00 16,250,000.00
IA-4 12,240,000.00 12,240,000.00 0.00 68,850.00 68,850.00 0.00 0.00 0.00 12,240,000.00
IA-5 16,100,000.00 16,100,000.00 0.00 90,562.50 90,562.50 0.00 0.00 0.00 16,100,000.00
IA-6 9,034,036.00 9,034,036.00 0.00 50,816.45 50,816.45 0.00 0.00 0.00 9,034,036.00
IA-7 10,000,000.00 10,000,000.00 0.00 56,250.00 56,250.00 0.00 0.00 0.00 10,000,000.00
IA-8 5,599,985.00 5,599,985.00 0.00 31,499.92 31,499.92 0.00 0.00 0.00 5,599,985.00
IA-9 25,993,201.00 25,993,201.00 96,817.22 146,211.76 243,028.98 0.00 0.00 0.00 25,896,383.78
A-R 100.85 100.85 100.85 0.57 101.42 0.00 0.00 0.00 0.00
A-P 3,123.00 3,123.00 4.84 N/A 4.84 0.00 0.00 0.00 3,118.16
IIA-1 12,262,215.00 12,262,215.00 230,689.29 68,974.96 299,664.25 0.00 0.00 0.00 12,031,525.71
M 5,512,562.00 5,512,562.00 4,917.93 31,008.16 35,926.09 0.00 0.00 0.00 5,507,644.07
B-1 2,537,528.00 2,537,528.00 2,263.81 14,273.60 16,537.41 0.00 0.00 0.00 2,535,264.19
B-2 1,662,518.00 1,662,518.00 1,483.18 9,351.66 10,834.84 0.00 0.00 0.00 1,661,034.82
B-3 875,009.00 875,009.00 780.62 4,921.93 5,702.55 0.00 0.00 0.00 874,228.38
B-4 437,504.00 437,504.00 390.31 2,460.96 2,851.27 0.00 0.00 0.00 437,113.69
B-5 787,514.84 787,514.84 702.57 4,429.77 5,132.34 0.00 0.00 0.00 786,812.27
---- -------------
TOTAL 175,001,995.69 175,001,995.69 591,264.06 984,368.67 1,575,632.73 0.00 0.00 0.00 174,410,731.63
- ------------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
ORIGINAL BEGINNING ENDING
NOTIONAL NOTIONAL INTEREST TOTAL NOTIONAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION BALANCE
- --------------------------------------------------------------------------------------------------------------------------
IA-X 161,621,229.80 161,621,229.80 120,673.49 120,673.49 161,263,536.75
IIA-X 13,050,781.79 13,050,781.79 7,593.12 7,593.12 12,817,723.18
- --------------------------------------------------------------------------------------------------------------------------
TOTAL 174,672,011.59 174,672,011.59 128,266.61 128,266.61 174,081,259.93
- --------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. PASS-THRU
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS RATE
- ------------------------------------------------------------------------------- ----------------------------------
<S> <C> <C> <C> <C> <C>
IA-1 6.17639813 5.62500000 993.82360187 IA-1 6.750000%
IA-2 0.00000000 5.62499987 1000.00000000 IA-2 6.750000%
IA-3 0.00000000 5.62500000 1000.00000000 IA-3 6.750000%
IA-4 0.00000000 5.62500000 1000.00000000 IA-4 6.750000%
IA-5 0.00000000 5.62500000 1000.00000000 IA-5 6.750000%
IA-6 0.00000000 5.62499972 1000.00000000 IA-6 6.750000%
IA-7 0.00000000 5.62500000 1000.00000000 IA-7 6.750000%
IA-8 0.00000000 5.62500078 1000.00000000 IA-8 6.750000%
IA-9 3.72471324 5.62500017 996.27528676 IA-9 6.750000%
IA-X N/A 0.74664381 997.78684366 IA-X N/A
A-P 1.54979187 N/A 998.45020813 A-P N/A
IIA-1 18.81301951 5.62500005 981.18698049 IIA-1 6.750000%
IIA-X N/A 0.58181342 982.14217250 IIA-X N/A
A-R 1000.00000000 5.65195835 0.00000000 A-R 6.750000%
M 0.89213146 5.62499977 999.10786854 M 6.750000%
B-1 0.89213203 5.62500197 999.10786797 B-1 6.750000%
B-2 0.89212869 5.62499774 999.10787131 B-2 6.750000%
B-3 0.89212797 5.62500500 999.10787203 B-3 6.750000%
B-4 0.89212899 5.62500000 999.10787101 B-4 6.750000%
B-5 0.89213557 5.62499876 999.10786443 B-5 6.750000%
- ------------------------------------------------------------------------------- ----------------------------------
<PAGE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-AS1
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Aug-98 PAGE # 2
RECORD DATE: 31-Jul-98
<S> <C> <C>
SECTION 6.02 (iii) AGGREGATE PRINCIPAL PREPAYMENT AMOUNT 435,137.17
AGGREGATE REPURCHASE PROCEEDS AMOUNT 0.00
SECTION 6.02 (iv) AGGREGATE SERVICER ADVANCES 0.00
SECTION 6.02 (v) NUMBER OF OUTSTANDING MORTGAGE LOANS 1,471
ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL 174,410,731.63
SECTION 6.02 (vi) SERVICING FEES 45,777.67
SECTION 6.02 (vii) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
---------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
---------------------------------------------------------------------------
1 MONTH 0 0.00
2 MONTHS 0 0.00
3+ MONTHS 0 0.00
FORECLOSURE 0 0.00
---------------------------------------------------------------------------
SECTION 6.02 (viii) MORTGAGE LOANS ACQUIRED THROUGH FORECLOSURE
---------------------------------------------------
COUNT AGG. PRIN. BAL.
---------------------------------------------------
0 0.00
---------------------------------------------------
SECTION 6.02 (ix) AGGREGATE AMOUNT OF ALL ADVANCES RECOVERED DURING THE RELATED 0.00
DUE PERIOD
-------------------------------------------------------------------------------------
SECTION 6.02 (x) CLASS PERCENTAGE PRINCIPAL BALANCE
-------------------------------------------------------------------------------------
CLASS A 93.25% 163,189,359.85
CLASS M 3.15% 5,512,562.00
CLASS B 3.60% 6,300,073.84
-------------------------------------------------------------------------------------
NON-PO CLASS A PERCENTAGE 93.24988%
NON-PO CLASS A PREPAYMENT PERCENTAGE 100.00000%
CREDIT SUPPORT LEVEL
-------------------------------------------------------------
CLASS CREDIT SUPPORT
-------------------------------------------------------------
M 3.60%
B-1 2.15%
B-2 1.20%
B-3 0.70%
B-4 0.45%
-------------------------------------------------------------
SECTION 6.02 (xi) CURRENT AGGREGATE AMOUNT OF REALIZED LOSSES 0.00
CUMULATIVE AGGREGATE AMOUNT REALIZED LOSSES 0.00
</TABLE>
