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 25, 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 9/25/98, Chase Mortgage Finance Corporation
(the "Depositor") made the distributions to holders of its Multi-Class
Pass-Through Certificates, Series 1998-S1, Series 1998-S2, Series 1998-S3,
Series 1998-S4 and Series 1998-AS1 as contemplated by each Series' respective
Pooling and Servicing Agreement (the "Pooling and Servicing Agreement"),
in each case, 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 for each Series delivered pursuant to Section 6.02 of the
respective 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
September 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: Novmeber 19, 1998
THE CHASE MANHATTAN BANK,
as Paying Agent, on behalf of
Chase Mortgage Finance Corp.
By: /s/ Andrew Cooper
-------------------
Name: Andrew Cooper
Title: Trust Officer
<PAGE>
INDEX TO EXHIBITS
-----------------
Exhibit No. Description
----------- -----------
20.1 Monthly Reports with respect to the
distribution to Certificateholders on
September 25, 1998.
<PAGE>
<TABLE>
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CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S1
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Sep-98 PAGE # 1
RECORD DATE: 31-Aug-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-1 156,000,000.00 151,025,954.45 1,132,495.67 849,520.99 1,982,016.66 0.00 0.00 0.00 149,893,458.78
A-2 100,000,000.00 97,287,589.47 617,564.35 547,242.69 1,164,807.04 0.00 0.00 0.00 96,670,025.12
A-3 50,000,000.00 48,708,377.26 294,077.95 273,984.62 568,062.57 0.00 0.00 0.00 48,414,299.31
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 75,548.71 75,548.71 0.00 0.00 0.00 14,058,975.00
A-6 4,686,325.00 4,686,325.00 0.00 29,893.60 29,893.60 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 451,538.00 450,105.71 543.55 0.00 543.55 0.00 0.00 0.00 449,562.16
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 8,687,416.21 6,870.05 48,866.72 55,736.77 0.00 0.00 0.00 8,680,546.16
B-1 3,442,584.00 3,434,560.04 2,716.07 19,319.40 22,035.47 0.00 0.00 0.00 3,431,843.97
B-2 1,822,544.00 1,818,296.12 1,437.89 10,227.92 11,665.81 0.00 0.00 0.00 1,816,858.23
B-3 1,417,534.00 1,414,230.14 1,118.34 7,955.04 9,073.38 0.00 0.00 0.00 1,413,111.80
B-4 810,019.00 808,130.96 639.09 4,545.74 5,184.83 0.00 0.00 0.00 807,491.87
B-5 1,012,573.33 1,010,213.09 798.93 5,682.45 6,481.38 0.00 0.00 0.00 1,009,414.16
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 405,009,905.19 395,990,173.45 2,058,261.89 2,224,912.88 4,283,174.77 0.00 0.00 0.00 393,931,911.56
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
ORIGINAL BEGINNING ENDING
NOTIONAL NOTIONAL INTEREST TOTAL NOTIONAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION BALANCE
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
A-X 377,526,002.16 368,591,685.56 146,456.02 146,456.02 366,568,223.66
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
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 7.25958763 5.44564737 960.85550500 A-1 6.75000000%
A-2 6.17564350 5.47242690 966.70025120 A-2 6.75000000%
A-3 5.88155900 5.47969240 968.28598620 A-3 6.75000000%
A-4 0.00000000 5.62500000 1000.00000000 A-4 6.75000000%
A-5 0.00000000 5.37369972 1000.00000000 A-5 6.45625000%
A-6 0.00000000 6.37890031 1000.00000000 A-6 7.63125000%
A-7 0.00000000 5.62500000 1000.00000000 A-7 6.75000000%
A-P 1.20377465 N/A 995.62419996 A-P N/A
A-R 0.00000000 0.00000000 0.00000000 A-R 6.75000000%
A-X N/A 0.38793625 970.97477144 A-X 0.47680746%
M 0.78896155 5.61188978 996.88025511 M 6.75000000%
B-1 0.78896259 5.61188921 996.88024170 B-1 6.75000000%
B-2 0.78894666 5.61189195 996.88031126 B-2 6.75000000%
B-3 0.78893346 5.61188656 996.88035701 B-3 6.75000000%
B-4 0.78898149 5.61189305 996.88015960 B-4 6.75000000%
B-5 0.78900952 5.61188986 996.88005806 B-5 6.75000000%
- ---------------------------------------------------------- ------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S1
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Sep-98 PAGE # 2
RECORD DATE: 31-Aug-98
<S> <C>
SECTION 6.02 (iii) AGGREGATE PRINCIPAL PREPAYMENT AMOUNT 1,745,057.65
AGGREGATE REPURCHASE PROCEEDS AMOUNT 0.00
SECTION 6.02 (iv) AGGREGATE SERVICER ADVANCES 26,587.31
SECTION 6.02 (iv) NUMBER OF OUTSTANDING MORTGAGE LOANS 1,389
ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL 393,931,911.56
SECTION 6.02 (vi) SERVICING FEES 102,627.37
SECTION 6.02 (vii) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
--------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
--------------------------------------------------------------
1 MONTH 2 573,403.43
2 MONTHS 2 217,506.90
3+ MONTHS 1 517,529.02
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 95.66% 378,817,326.89
CLASS M 2.19% 8,687,416.21
CLASS B 2.14% 8,485,430.35
--------------------------------------------------------------
NON-PO CLASS A PERCENTAGE 95.66%
NON-PO CLASS A PREPAYMENT PERCENTAGE 100.00%
CREDIT SUPPORT LEVEL
---------------------------------------------
CLASS CREDIT SUPPORT
---------------------------------------------
------------------------------
M 2.14%
B-1 1.28%
B-2 0.82%
B-3 0.46%
B-4 0.26%
---------------------------------------------
SECTION 6.02 (xi) CURRENT AGGREGATE AMOUNT OF REALIZED LOSSES 0.00
CUMULATIVE AGGREGATE AMOUNT REALIZED LOSSES 0.00
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
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- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S2
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Sep-98 PAGE # 1
RECORD DATE: 31-Aug-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 45,849,874.09 271,915.34 267,457.60 539,372.94 0.00 0.00 0.00 45,577,958.75
A-6 CP1 13,800,000.00 13,665,837.19 81,046.05 79,717.38 160,763.43 0.00 0.00 0.00 13,584,791.14
A-6 CP2 21,900,000.00 21,632,091.10 205,709.34 126,187.20 331,896.54 0.00 0.00 0.00 21,426,381.76
A-7 7,000,000.00 5,498,181.58 1,967,549.13 0.00 1,967,549.13 0.00 0.00 0.00 3,562,705.18
A-8 500,000.00 505,850.35 0.00 0.00 0.00 0.00 0.00 0.00 508,801.14
A-9 127,600,000.00 126,474,953.96 666,250.74 737,770.56 1,404,021.30 0.00 0.00 0.00 125,808,703.22
A-10 15,600,000.00 12,642,328.16 3,683,001.71 0.00 3,683,001.71 0.00 0.00 0.00 9,033,073.36
A-11 7,599,000.00 7,687,913.58 0.00 0.00 0.00 0.00 0.00 0.00 7,732,759.74
A-12 985,000.00 996,525.18 0.00 0.00 0.00 0.00 0.00 0.00 1,002,338.24
A-13 8,937,320.00 8,702,854.56 248,747.12 N/A 248,747.12 0.00 0.00 0.00 8,454,107.44
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 237,974.00 237,533.45 221.01 N/A 221.01 0.00 0.00 0.00 237,312.44
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 11,378,638.03 8,824.45 64,004.84 72,829.29 0.00 0.00 0.00 11,369,813.58
B-1 4,505,000.00 4,498,136.57 3,488.43 25,302.02 28,790.45 0.00 0.00 0.00 4,494,648.14
B-2 2,385,000.00 2,381,366.42 1,846.81 13,395.19 15,242.00 0.00 0.00 0.00 2,379,519.61
B-3 1,855,000.00 1,852,173.88 1,436.41 10,418.48 11,854.89 0.00 0.00 0.00 1,850,737.47
B-4 1,061,000.00 1,059,383.55 821.58 5,959.03 6,780.61 0.00 0.00 0.00 1,058,561.97
B-5 1,325,030.44 1,323,011.73 1,026.03 7,441.94 8,467.97 0.00 0.00 0.00 1,321,985.70
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 530,008,725.39 523,408,953.38 7,141,884.15 2,752,374.43 9,894,258.58 0.00 0.00 0.00 516,426,498.88
- ------------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------
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 511,626,605.16 505,061,610.13 197,328.54 197,328.54 498,095,543.33
- ----------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
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 5.87290151 5.77662203 984.40515659 A-5 7.00000000%
A-6 CP1 5.87290217 5.77662174 984.40515507 A-6 CP1 7.00000000%
A-6 CP2 9.39312055 5.76197260 978.37359635 A-6 CP2 7.00000000%
A-7 281.07844714 0.00000000 508.95788286 A-7 7.00000000%
A-8 0.00000000 0.00000000 1017.60228000 A-8 7.00000000%
A-9 5.22140078 5.78190094 985.96162398 A-9 7.00000000%
A-10 236.08985321 0.00000000 579.04316410 A-10 7.00000000%
A-11 0.00000000 0.00000000 1017.60228188 A-11 7.00000000%
A-12 0.00000000 0.00000000 1017.60227411 A-12 7.00000000%
A-13 27.83240614 N/A 945.93317012 A-13 N/A
A-14 0.00000000 5.62500003 1000.00000000 A-14 6.75000000%
A-P 0.92871490 N/A 997.22003244 A-P N/A
A-R 0.00000000 0.00000000 0.00000000 A-R 6.75000000%
A-X N/A 0.38568858 973.55285731 A-X 0.46883000%
M 0.77434626 5.61643033 997.70213935 M 6.75000000%
B-1 0.77434628 5.61643063 997.70213984 B-1 6.75000000%
B-2 0.77434382 5.61643187 997.70214256 B-2 6.75000000%
B-3 0.77434501 5.61643127 997.70214016 B-3 6.75000000%
B-4 0.77434496 5.61642790 997.70213949 B-4 6.75000000%
B-5 0.77434447 5.61642946 997.70213581 B-5 6.75000000%
- ---------------------------------------------------------- ------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S2
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Sep-98 PAGE # 2
RECORD DATE: 31-Aug-98
<S> <C> <C>
SECTION 6.02 (iii) AGGREGATE PRINCIPAL PREPAYMENT AMOUNT 6,576,517.22
AGGREGATE REPURCHASE PROCEEDS AMOUNT 0.00
SECTION 6.02 (iv) AGGREGATE SERVICER ADVANCES 0.00
SECTION 6.02 (iv) NUMBER OF OUTSTANDING MORTGAGE LOANS 1,735
ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL 516,426,498.88
SECTION 6.02 (vi) SERVICING FEES 134,559.63
SECTION 6.02 (vii) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
--------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
--------------------------------------------------------------
1 MONTH 1 307,508.86
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 95.70% 500,916,243.20
CLASS M 2.17% 11,378,638.03
CLASS B 2.12% 11,114,072.15
--------------------------------------------------------------
NON-PO CLASS A PERCENTAGE 95.70070%
NON-PO CLASS A PREPAYMENT PERCENTAGE 100.00000%
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
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
- ------------------------------------------------------------------------------------------------------------------------------------
<PAGE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S3
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Sep-98 PAGE # 1
RECORD DATE: 31-Aug-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 60,668,027.82 336,597.44 328,618.48 665,215.92 0.00 0.00 0.00 60,331,430.38
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 92,923,515.80 462,224.45 503,335.71 965,560.16 0.00 0.00 0.00 92,461,291.35
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 44,603,190.44 147,868.03 241,600.61 389,468.64 0.00 0.00 0.00 44,455,322.41
A-P 551,754.00 547,797.46 2,142.53 N/A 2,142.53 0.00 0.00 0.00 545,654.93
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 2,459,429.42 8,153.48 13,321.91 21,475.39 0.00 0.00 0.00 2,451,275.94
B-1 787,683.00 782,545.78 2,594.29 4,238.79 6,833.08 0.00 0.00 0.00 779,951.49
B-2 675,156.00 670,752.66 2,223.67 3,633.24 5,856.91 0.00 0.00 0.00 668,528.99
B-3 675,156.00 670,752.66 2,223.67 3,633.24 5,856.91 0.00 0.00 0.00 668,528.99
B-4 337,578.00 335,376.34 1,111.84 1,816.62 2,928.46 0.00 0.00 0.00 334,264.50
B-5 450,295.59 447,358.78 1,483.08 2,423.19 3,906.27 0.00 0.00 0.00 445,875.70
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 225,052,297.95 222,408,747.16 966,622.48 1,201,746.79 2,168,369.27 0.00 0.00 0.00 221,442,124.68
- ------------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
ORIGINAL BEGINNING ENDING
NOTIONAL NOTIONAL INTEREST TOTAL NOTIONAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION BALANCE
- --------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
A-X 198,278,988.72 195,838,962.27 62,150.25 62,150.25 194,987,749.95
- --------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
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 5.46052107 5.33108076 978.73901528 A-1 6.50000000%
A-2 0.00000000 5.41666714 1000.00000000 A-2 6.50000000%
A-3 4.90366589 5.33980872 980.90717635 A-3 6.50000000%
A-4 0.00000000 5.41666637 1000.00000000 A-4 6.50000000%
A-5 3.29356802 5.38133932 990.18447991 A-5 6.50000000%
A-P 3.88312545 N/A 988.94603392 A-P N/A
A-R 0.00000000 0.00000000 0.00000000 A-R 6.50000000%
A-X N/A 0.31344849 983.40097057 A-X 0.38082000%
M 3.29357018 5.38133969 990.18447835 M 6.50000000%
B-1 3.29357114 5.38133996 990.18449046 B-1 6.50000000%
B-2 3.29356475 5.38133409 990.18447588 B-2 6.50000000%
B-3 3.29356475 5.38133409 990.18447588 B-3 6.50000000%
B-4 3.29357956 5.38133409 990.18449070 B-4 6.50000000%
B-5 3.29356990 5.38133185 990.18446972 B-5 6.50000000%
- ------------------------------------------------------------------------------- ----------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S3
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Sep-98 PAGE # 2
RECORD DATE: 31-Aug-98
<S> <C>
SECTION 6.02 (iii) AGGREGATE PRINCIPAL PREPAYMENT AMOUNT 229,235.26
AGGREGATE REPURCHASE PROCEEDS AMOUNT 0.00
SECTION 6.02 (iv) AGGREGATE SERVICER ADVANCES 9,445.88
SECTION 6.02 (v) NUMBER OF OUTSTANDING MORTGAGE LOANS 783
ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL 221,442,124.68
SECTION 6.02 (vi) SERVICING FEES 58,753.04
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 1 325,219.98
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% 217,042,531.52
CLASS M 1.11% 2,459,429.42
CLASS B 1.31% 2,906,786.22
-------------------------------------------------------------------------------------
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 0.96%
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
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
- ---------------------------------------------------------------------------------------------------------------
<PAGE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S4
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Sep-98 PAGE # 1
RECORD DATE: 31-Aug-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 8,550,782.86 45,080.04 57,005.22 102,085.26 0.00 0.00 0.00 8,505,702.82
A-7 79,810,000.00 79,445,632.17 418,840.29 460,122.62 878,962.91 0.00 0.00 0.00 79,026,791.88
A-8 15,000,000.00 14,931,518.39 78,719.51 87,100.52 165,820.03 0.00 0.00 0.00 14,852,798.88
A-9 46,000,000.00 45,789,989.72 241,406.51 263,292.44 504,698.95 0.00 0.00 0.00 45,548,583.21
A-10 CP1 31,500,000.00 31,346,754.83 220,160.70 184,162.18 404,322.88 0.00 0.00 0.00 31,126,594.13
A-10 CP2 8,500,000.00 8,461,193.75 44,607.72 49,709.51 94,317.23 0.00 0.00 0.00 8,416,586.03
A-11 CP1 31,500,000.00 31,346,754.83 220,160.70 181,549.96 401,710.66 0.00 0.00 0.00 31,126,594.13
A-11 CP2 8,500,000.00 8,461,193.75 44,607.71 49,004.41 93,612.12 0.00 0.00 0.00 8,416,586.04
A-12 19,409,000.00 14,191,453.80 2,157,631.02 0.00 2,157,631.02 0.00 0.00 0.00 12,116,606.26
A-13 1,350,000.00 1,357,875.00 0.00 0.00 0.00 0.00 0.00 0.00 1,365,795.94
A-14 9,265,280.00 9,032,837.77 125,205.85 N/A 125,205.85 0.00 0.00 0.00 8,907,631.92
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 403,517.00 403,176.85 384.04 N/A 384.04 0.00 0.00 0.00 402,792.81
A-R 100.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
M 11,825,000.00 11,816,018.83 9,035.86 66,465.11 75,500.97 0.00 0.00 0.00 11,806,982.97
B-1 4,675,000.00 4,671,449.30 3,572.32 26,276.90 29,849.22 0.00 0.00 0.00 4,667,876.98
B-2 2,475,000.00 2,473,120.22 1,891.23 13,911.30 15,802.53 0.00 0.00 0.00 2,471,228.99
B-3 1,925,000.00 1,923,537.95 1,470.95 10,819.90 12,290.85 0.00 0.00 0.00 1,922,067.00
B-4 1,100,000.00 1,099,164.54 840.55 6,182.80 7,023.35 0.00 0.00 0.00 1,098,323.99
B-5 1,375,121.80 1,374,077.39 1,050.76 7,729.19 8,779.95 0.00 0.00 0.00 1,373,026.63
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 550,002,018.91 543,475,531.95 3,614,665.76 2,933,107.85 6,547,773.61 0.00 0.00 0.00 539,951,570.61
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
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 523,531,639.82 517,027,263.34 193,188.57 193,188.57 513,529,551.93
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
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>
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 5.24796740 6.63623050 990.18659139 A-6 8.00000000%
A-7 5.24796755 5.76522516 990.18659166 A-7 6.95000000%
A-8 5.24796733 5.80670133 990.18659200 A-8 7.00000000%
A-9 5.24796761 5.72374870 990.18659152 A-9 6.90000000%
A-10 CP1 5.24796761 5.72374870 990.18659152 A-10 CP1 7.05000000%
A-10 CP2 5.24796706 5.84817765 990.18659176 A-10 CP2 7.05000000%
A-11 CP1 5.24796706 5.84817765 990.18659176 A-11 CP1 6.95000000%
A-11 CP2 5.24796588 5.76522471 990.18659294 A-11 CP2 6.95000000%
A-12 111.16652172 0.00000000 624.27771961 A-12 7.00000000%
A-13 0.00000000 0.00000000 1011.70069630 A-13 7.00000000%
A-14 13.51344482 N/A 961.39910720 A-14 N/A
A-15 0.95173190 5.62500000 998.20530486 A-15 6.75000000%
A-P 0.95173190 N/A 998.20530486 A-P N/A
A-R 0.00000000 0.00000000 0.00000000 A-R 6.75000000%
A-X N/A 0.36901030 980.89496961 A-X 0.44838000%
M 0.76413192 5.62072812 998.47636110 M 6.75000000%
B-1 0.76413262 5.62072727 998.47635936 B-1 6.75000000%
B-2 0.76413333 5.62072727 998.47635960 B-2 6.75000000%
B-3 0.76412987 5.62072727 998.47636364 B-3 6.75000000%
B-4 0.76413636 5.62072727 998.47635455 B-4 6.75000000%
B-5 0.76412140 5.62073120 998.47637497 B-5 6.75000000%
- ---------------------------------------------------------------------------------------------- --------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Sep-98 PAGE # 2
RECORD DATE: 31-Aug-98
<S> <C> <C>
SECTION 6.02 (iii) AGGREGATE PRINCIPAL PREPAYMENT AMOUNT 3,108,325.16
AGGREGATE REPURCHASE PROCEEDS AMOUNT 0.00
SECTION 6.02 (iv) AGGREGATE SERVICER ADVANCES 0.00
SECTION 6.02 (iv) NUMBER OF OUTSTANDING MORTGAGE LOANS 1,737
ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL 539,951,570.61
SECTION 6.02 (vi) SERVICING FEES 139,175.00
SECTION 6.02 (vii) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
------------------------------------------------------------------------------------------
1 MONTH 3 780,710.36
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 95.70% 520,118,163.72
CLASS M 2.17% 11,816,018.83
CLASS B 2.12% 11,541,349.40
------------------------------------------------------------------------------------------
NON-PO CLASS A PERCENTAGE 95.69903%
NON-PO CLASS A PREPAYMENT PERCENTAGE 100.00000%
CREDIT SUPPORT LEVEL
------------------------------------------------------------
------------------------------------------------------------
------------------------------
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
(C) COPYRIGHT 1998, THE CHASE MANHATTAN BANK
- ------------------------------------------------------------------------------------------------------------------------------------
<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
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>
IA-1 40,980,752.00 40,727,638.56 252,935.09 229,092.97 482,028.06 0.00 0.00 0.00 40,474,703.47
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 25,896,383.78 96,710.47 145,667.16 242,377.63 0.00 0.00 0.00 25,799,673.31
A-R 100.85 0.00 0.00 3,325.84 3,325.84 0.00 0.00 0.00 0.00
A-P 3,123.00 3,118.16 4.84 N/A 4.84 0.00 0.00 0.00 3,113.32
IIA-1 12,262,215.00 12,031,525.71 230,557.16 67,677.33 298,234.49 0.00 0.00 0.00 11,800,968.55
M 5,512,562.00 5,507,644.07 5,159.70 30,980.50 36,140.20 0.00 0.00 0.00 5,502,484.37
B-1 2,537,528.00 2,535,264.19 2,375.10 14,260.86 16,635.96 0.00 0.00 0.00 2,532,889.09
B-2 1,662,518.00 1,661,034.82 1,556.10 9,343.32 10,899.42 0.00 0.00 0.00 1,659,478.72
B-3 875,009.00 874,228.38 819.00 4,917.53 5,736.53 0.00 0.00 0.00 873,409.38
B-4 437,504.00 437,113.69 409.50 2,458.76 2,868.26 0.00 0.00 0.00 436,704.19
B-5 787,514.84 786,812.27 737.11 4,425.82 5,162.93 0.00 0.00 0.00 786,075.16
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 175,001,995.69 174,410,731.63 591,264.07 984,368.66 1,575,632.73 0.00 0.00 0.00 173,819,467.56
- ------------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
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 6.17204609 5.59025784 987.65155578 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 3.72060640 5.60404854 992.55468036 IA-9 6.750000%
IA-X N/A 0.74664381 997.78684366 IA-X N/A
A-P 1.54979187 N/A 996.90041627 A-P N/A
IIA-1 18.80224413 5.51917659 962.38473636 IIA-1 6.750000%
IIA-X N/A 0.58181342 982.14217250 IIA-X N/A
A-R 0.00000000 32978.08626673 0.00000000 A-R 6.750000%
M 0.93598947 5.61998214 998.17187906 M 6.750000%
B-1 0.93598967 5.61998134 998.17187830 B-1 6.750000%
B-2 0.93598987 5.61998126 998.17188145 B-2 6.750000%
B-3 0.93599037 5.61997648 998.17188166 B-3 6.750000%
B-4 0.93599144 5.61997147 998.17187957 B-4 6.750000%
B-5 0.93599506 5.61998298 998.17186937 B-5 6.750000%
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
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>
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 92.92% 162,608,634.21
CLASS M 3.15% 5,507,644.07
CLASS B 3.60% 6,294,453.35
-------------------------------------------------------------------------------------
NON-PO CLASS A PERCENTAGE 92.91804%
NON-PO CLASS A PREPAYMENT PERCENTAGE 100.00000%
CREDIT SUPPORT LEVEL
-------------------------------------------------------------
CLASS CREDIT SUPPORT
-------------------------------------------------------------
M 3.61%
B-1 2.16%
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
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
