SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report: November 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 11/25/98, 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, Series 1998-S6, Series 1998-AS1 and Series 1998-AS2 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 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
October 26, 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: December 22, 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
November 25, 1998.
<PAGE>
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S1
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Nov-98 PAGE # 1
RECORD DATE: 31-Oct-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-1 156,000,000.00 146,928,336.20 1,909,987.18 826,471.89 2,736,459.07 0.00 0.00 0.00 145,018,349.02
A-2 100,000,000.00 95,053,105.93 1,041,540.39 534,673.72 1,576,214.11 0.00 0.00 0.00 94,011,565.54
A-3 50,000,000.00 47,644,338.59 495,971.10 267,999.40 763,970.50 0.00 0.00 0.00 47,148,367.49
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 70,525.56 70,525.56 0.00 0.00 0.00 14,058,975.00
A-6 4,686,325.00 4,686,325.00 0.00 34,916.75 34,916.75 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 451,538.00 449,048.96 555.12 0.00 555.12 0.00 0.00 0.00 448,493.84
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 8,673,609.86 7,001.59 48,789.06 55,790.65 0.00 0.00 0.00 8,666,608.27
B-1 3,442,584.00 3,429,101.70 2,768.08 19,288.70 22,056.78 0.00 0.00 0.00 3,426,333.62
B-2 1,822,544.00 1,815,406.47 1,465.42 10,211.66 11,677.08 0.00 0.00 0.00 1,813,941.05
B-3 1,417,534.00 1,411,982.67 1,139.76 7,942.40 9,082.16 0.00 0.00 0.00 1,410,842.91
B-4 810,019.00 806,846.61 651.33 4,538.51 5,189.84 0.00 0.00 0.00 806,195.28
B-5 1,012,573.33 1,008,607.52 814.23 5,673.42 6,487.65 0.00 0.00 0.00 1,007,793.29
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 405,009,905.19 388,565,684.51 3,461,894.20 2,183,156.07 5,645,050.27 0.00 0.00 0.00 385,103,790.31
- ------------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
ORIGINAL BEGINNING ENDING
NOTIONAL NOTIONAL INTEREST TOTAL NOTIONAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION BALANCE
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A-X 377,526,002.16 361,233,293.90 142,152.05 142,152.05 357,809,807.21
- ---------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
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 12.24350756 5.29789673 929.60480141 A-1 6.75000000%
A-2 10.41540390 5.34673720 940.11565540 A-2 6.75000000%
A-3 9.91942200 5.35998800 942.96734980 A-3 6.75000000%
A-4 0.00000000 5.62500000 1000.00000000 A-4 6.75000000%
A-5 0.00000000 5.01640838 1000.00000000 A-5 6.01969000%
A-6 0.00000000 7.45077433 1000.00000000 A-6 8.94093000%
A-7 0.00000000 5.62500000 1000.00000000 A-7 6.75000000%
A-P 1.22939819 N/A 993.25824183 A-P N/A
A-R 0.00000000 0.00000001 0.00000000 A-R 6.75000000%
A-X N/A 0.37653579 947.77526624 A-X 0.47222218%
M 0.80406770 5.60297125 995.27961765 M 6.75000000%
B-1 0.80407043 5.60297149 995.27959812 B-1 6.75000000%
B-2 0.80405192 5.60297035 995.27970244 B-2 6.75000000%
B-3 0.80404421 5.60296966 995.27976754 B-3 6.75000000%
B-4 0.80409225 5.60296734 995.27946875 B-4 6.75000000%
B-5 0.80411954 5.60297198 995.27931473 B-5 6.75000000%
- ------------------------------------------------------------------------------------ -----------------------------
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Nov-98 PAGE # 2
RECORD DATE: 31-Oct-98
<S> <C> <C>
SECTION 6.02 (iii) AGGREGATE PRINCIPAL PREPAYMENT AMOUNT 3,148,179.28
AGGREGATE REPURCHASE PROCEEDS AMOUNT 0.00
SECTION 6.02 (iv) AGGREGATE SERVICER ADVANCES 2,169,935.23
SECTION 6.02 (iv) NUMBER OF OUTSTANDING MORTGAGE LOANS 1,362
ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL 385,103,790.32
SECTION 6.02 (vi) SERVICING FEES 100,703.30
SECTION 6.02 (vii) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
--------------------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
--------------------------------------------------------------------------------------------------------
1 MONTH 11 3,389,665.54
2 MONTHS 1 286,075.56
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 25,287.42
DUE PERIOD
--------------------------------------------------------------------------------------------------------
SECTION 6.02 (x) CLASS PERCENTAGE PRINCIPAL BALANCE
----------------------------------- ----------------------------------
--------------------------------------------------------------------------------------------------------
CLASS A 96.45% 371,420,129.68
CLASS M 2.25% 8,673,609.86
CLASS B 2.20% 8,471,944.97
--------------------------------------------------------------------------------------------------------
NON-PO CLASS A PERCENTAGE 95.58%
NON-PO CLASS A PREPAYMENT PERCENTAGE 100.00%
CREDIT SUPPORT LEVEL
---------------------------------------------------------------------
CLASS CREDIT SUPPORT
---------------------------------------------------------------------
----------------------------------
M 2.18%
B-1 1.30%
B-2 0.83%
B-3 0.47%
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
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S2
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Nov-98 PAGE # 1
RECORD DATE: 30-Oct-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 45,274,907.06 334,096.04 264,103.62 598,199.66 0.00 0.00 0.00 44,940,811.02
A-6 CP1 13,800,000.00 13,494,464.72 99,579.38 78,717.71 178,297.09 0.00 0.00 0.00 13,394,885.34
A-6 CP2 21,900,000.00 21,172,985.87 300,848.11 123,509.08 424,357.19 0.00 0.00 0.00 20,872,137.76
A-7 7,000,000.00 2,499,601.46 1,598,108.93 0.00 1,598,108.93 0.00 0.00 0.00 916,073.54
A-8 500,000.00 511,769.15 0.00 0.00 0.00 0.00 0.00 0.00 514,754.47
A-9 127,600,000.00 125,073,514.69 803,926.18 729,595.50 1,533,521.68 0.00 0.00 0.00 124,269,588.51
A-10 15,600,000.00 6,822,540.86 3,213,269.18 0.00 3,213,269.18 0.00 0.00 0.00 3,649,069.84
A-11 7,599,000.00 7,777,867.51 0.00 0.00 0.00 0.00 0.00 0.00 7,823,238.40
A-12 985,000.00 1,008,185.21 0.00 0.00 0.00 0.00 0.00 0.00 1,014,066.29
A-13 8,937,320.00 8,283,671.71 231,160.44 N/A 231,160.44 0.00 0.00 0.00 8,052,511.27
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 237,974.00 237,072.61 236.12 N/A 236.12 0.00 0.00 0.00 236,836.49
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 11,360,832.54 8,996.96 63,904.68 72,901.64 0.00 0.00 0.00 11,351,835.58
B-1 4,505,000.00 4,491,097.81 3,556.63 25,262.43 28,819.06 0.00 0.00 0.00 4,487,541.18
B-2 2,385,000.00 2,377,640.02 1,882.92 13,374.23 15,257.15 0.00 0.00 0.00 2,375,757.10
B-3 1,855,000.00 1,849,275.57 1,464.49 10,402.18 11,866.67 0.00 0.00 0.00 1,847,811.08
B-4 1,061,000.00 1,057,725.81 837.64 5,949.71 6,787.35 0.00 0.00 0.00 1,056,888.17
B-5 1,325,030.44 1,320,941.46 1,046.09 7,430.30 8,476.39 0.00 0.00 0.00 1,319,895.37
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 530,008,725.39 511,636,394.06 6,599,009.11 2,736,969.63 9,335,978.74 0.00 0.00 0.00 505,146,001.41
- ------------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------
ORIGINAL BEGINNING ENDING
NOTIONAL NOTIONAL INTEREST TOTAL NOTIONAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION BALANCE
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A-4 5,516,488.89 5,516,488.89 31,030.25 31,030.25 5,516,488.89
A-X 511,626,605.16 493,323,513.84 190,002.74 190,002.74 486,851,033.30
- -----------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. PASS-THRU
DISTRIBUTION DISTRIBUTION BALANCE CLASS RATE
- -------------------------------------------------------------------------------- ----------------------------------
<S> <C> <C> <C> <C> <C>
A-1 0.00000000 5.41666671 1,000.00000000 A-1 6.50000000%
A-2 0.00000000 5.41666659 1,000.00000000 A-2 6.50000000%
A-3 0.00000000 5.50000000 1,000.00000000 A-3 6.60000000%
A-4 N/A 5.62500000 1,000.00000000 A-4 6.75000000%
A-5 7.21589719 5.70418186 970.64386652 A-5 7.00000000%
A-6 CP1 7.21589710 5.70418188 970.64386522 A-6 CP1 7.00000000%
A-6 CP2 13.73735662 5.63968402 953.06565114 A-6 CP2 7.00000000%
A-7 228.30127571 0.00000000 130.86764857 A-7 7.00000000%
A-8 0.00000000 0.00000000 1,029.50894000 A-8 7.00000000%
A-9 6.30036191 5.71783307 973.89959647 A-9 7.00000000%
A-10 205.97879359 0.00000000 233.91473333 A-10 7.00000000%
A-11 0.00000000 0.00000000 1,029.50893539 A-11 7.00000000%
A-12 0.00000000 0.00000000 1,029.50892386 A-12 7.00000000%
A-13 25.86462608 N/A 900.99842794 A-13 N/A
A-14 0.00000000 5.62500003 1,000.00000000 A-14 6.75000000%
A-P 0.99220923 N/A 995.22002404 A-P N/A
A-R 0.00000000 0.00000000 0.00000000 A-R 6.75000000%
A-X N/A 0.37136994 951.57489542 A-X 0.46217000%
M 0.78948403 5.60764128 996.12456827 M 6.75000000%
B-1 0.78948502 5.60764262 996.12456826 B-1 6.75000000%
B-2 0.78948428 5.60764361 996.12457023 B-2 6.75000000%
B-3 0.78948248 5.60764420 996.12457143 B-3 6.75000000%
B-4 0.78948162 5.60764373 996.12457116 B-4 6.75000000%
B-5 0.78948375 5.60764476 996.12456450 B-5 6.75000000%
- --------------------------------------------------------------------------------- ----------------------------------
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S2
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Nov-98 PAGE # 2
RECORD DATE: 30-Oct-98
<S> <C> <C>
SECTION 6.02 (iii) AGGREGATE PRINCIPAL PREPAYMENT AMOUNT 6,085,194.46
AGGREGATE REPURCHASE PROCEEDS AMOUNT 0.00
SECTION 6.02 (iv) AGGREGATE SERVICER ADVANCES 0.00
SECTION 6.02 (iv) NUMBER OF OUTSTANDING MORTGAGE LOANS 1,705
ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL 505,146,001.41
SECTION 6.02 (vi) SERVICING FEES 131,533.19
SECTION 6.02 (vii) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
--------------------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
--------------------------------------------------------------------------------------------------------
1 MONTH 13 5,057,667.63
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 95.61% 489,178,880.85
CLASS M 2.22% 11,360,832.54
CLASS B 2.17% 11,096,680.67
--------------------------------------------------------------------------------------------------------
NON-PO CLASS A PERCENTAGE 95.60862%
NON-PO CLASS A PREPAYMENT PERCENTAGE 100.00000%
CREDIT SUPPORT LEVEL
---------------------------------------------------------------------
CLASS CREDIT SUPPORT
---------------------------------------------------------------------
-----------------------------------
M 2.17%
B-1 1.29%
B-2 0.83%
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
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S3
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Nov-98 PAGE # 1
RECORD DATE: 30-Sep-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 59,640,217.63 1,143,785.04 323,051.18 1,466,836.22 0.00 0.00 0.00 58,496,432.59
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 91,512,099.83 1,570,675.71 495,690.54 2,066,366.25 0.00 0.00 0.00 89,941,424.12
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 44,306,145.20 150,319.18 239,991.62 390,310.80 0.00 0.00 0.00 44,155,826.02
A-P 551,754.00 543,720.70 2,096.46 N/A 2,096.46 0.00 0.00 0.00 541,624.24
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 2,443,050.26 8,288.64 13,233.19 21,521.83 0.00 0.00 0.00 2,434,761.62
B-1 787,683.00 777,334.23 2,637.29 4,210.56 6,847.85 0.00 0.00 0.00 774,696.94
B-2 675,156.00 666,285.63 2,260.53 3,609.05 5,869.58 0.00 0.00 0.00 664,025.10
B-3 675,156.00 666,285.63 2,260.53 3,609.05 5,869.58 0.00 0.00 0.00 664,025.10
B-4 337,578.00 333,142.82 1,130.27 1,804.52 2,934.79 0.00 0.00 0.00 332,012.55
B-5 450,295.59 444,379.49 1,507.66 2,407.06 3,914.72 0.00 0.00 0.00 442,871.83
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 225,052,297.95 219,632,661.42 2,884,961.31 1,186,731.77 4,071,693.08 0.00 0.00 0.00 216,747,700.11
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
ORIGINAL BEGINNING ENDING
NOTIONAL NOTIONAL INTEREST TOTAL NOTIONAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A-X 198,278,988.72 193,272,796.09 61,308.13 61,308.13 190,496,450.05
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
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 18.55528763 5.24076409 948.97038691 A-1 6.50000000%
A-2 0.00000000 5.41666714 1000.00000000 A-2 6.50000000%
A-3 16.66304951 5.25870233 954.17430454 A-3 6.50000000%
A-4 0.00000000 5.41666637 1000.00000000 A-4 6.50000000%
A-5 3.34816420 5.34550116 983.51358740 A-5 6.50000000%
A-P 3.79962810 N/A 981.64080369 A-P N/A
A-R 0.00000000 0.00000000 0.00000000 A-R 6.50000000%
A-X N/A 0.30920135 960.74955435 A-X 0.38065000%
M 3.34816760 5.34550155 983.51357563 M 6.50000000%
B-1 3.34816163 5.34550066 983.51359621 B-1 6.50000000%
B-2 3.34815954 5.34550534 983.51358797 B-2 6.50000000%
B-3 3.34815954 5.34550534 983.51358797 B-3 6.50000000%
B-4 3.34817435 5.34549052 983.51358797 B-4 6.50000000%
B-5 3.34815626 5.34551093 983.51358493 B-5 6.50000000%
- ------------------------------------------------------------------------- -------------------------------------------------
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Nov-98 PAGE # 2
RECORD DATE: 30-Sep-98
<S> <C> <C>
SECTION 6.02 (iii) AGGREGATE PRINCIPAL PREPAYMENT AMOUNT 2,139,750.98
AGGREGATE REPURCHASE PROCEEDS AMOUNT 0.00
SECTION 6.02 (iv) AGGREGATE SERVICER ADVANCES 1,577,411.51
SECTION 6.02 (v) NUMBER OF OUTSTANDING MORTGAGE LOANS 776
ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL 216,747,700.11
SECTION 6.02 (vi) SERVICING FEES 58,019.73
SECTION 6.02 (vii) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
--------------------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
--------------------------------------------------------------------------------------------------------
1 MONTH 2 326,681.70
2 MONTHS 0 0.00
3+ MONTHS 1 323,262.36
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 97.57% 214,302,183.36
CLASS M 1.11% 2,443,050.26
CLASS B 1.31% 2,887,427.80
--------------------------------------------------------------------------------------------------------
NON-PO CLASS A PERCENTAGE 97.57%
NON-PO CLASS A PREPAYMENT PERCENTAGE 100.00%
CREDIT SUPPORT LEVEL
---------------------------------------------------------------------
CLASS CREDIT SUPPORT
---------------------------------------------------------------------
----------------------------------
M 1.31%
B-1 0.96%
B-2 0.66%
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
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S4
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Nov-98 PAGE # 1
RECORD DATE: 31-Oct-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 8,454,774.65 56,762.77 56,365.16 113,127.93 0.00 0.00 0.00 8,398,011.88
A-7 79,810,000.00 78,553,616.39 527,384.97 454,956.36 982,341.33 0.00 0.00 0.00 78,026,231.42
A-8 15,000,000.00 14,763,867.27 99,120.09 86,122.56 185,242.65 0.00 0.00 0.00 14,664,747.18
A-9 46,000,000.00 45,275,859.58 303,968.29 260,336.19 564,304.48 0.00 0.00 0.00 44,971,891.29
A-10 CP1 31,500,000.00 30,839,573.09 353,690.61 181,182.49 534,873.10 0.00 0.00 0.00 30,485,882.48
A-10 CP2 8,500,000.00 8,366,191.45 56,168.05 49,151.37 105,319.42 0.00 0.00 0.00 8,310,023.40
A-11 CP1 31,500,000.00 30,839,573.09 353,690.61 178,612.53 532,303.14 0.00 0.00 0.00 30,485,882.48
A-11 CP2 8,500,000.00 8,366,191.46 56,168.05 48,454.19 104,622.24 0.00 0.00 0.00 8,310,023.41
A-12 19,409,000.00 9,214,240.93 6,584,781.57 0.00 6,584,781.57 0.00 0.00 0.00 2,683,209.10
A-13 1,350,000.00 1,373,763.08 0.00 0.00 0.00 0.00 0.00 0.00 1,381,776.70
A-14 9,265,280.00 8,742,630.00 308,521.86 N/A 308,521.86 0.00 0.00 0.00 8,434,108.14
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 403,517.00 402,437.60 445.62 N/A 445.62 0.00 0.00 0.00 401,991.98
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 11,797,846.77 9,202.60 66,362.89 75,565.49 0.00 0.00 0.00 11,788,644.17
B-1 4,675,000.00 4,664,264.99 3,638.23 26,236.49 29,874.72 0.00 0.00 0.00 4,660,626.76
B-2 2,475,000.00 2,469,316.76 1,926.12 13,889.91 15,816.03 0.00 0.00 0.00 2,467,390.64
B-3 1,925,000.00 1,920,579.71 1,498.09 10,803.26 12,301.35 0.00 0.00 0.00 1,919,081.62
B-4 1,100,000.00 1,097,474.11 856.05 6,173.29 7,029.34 0.00 0.00 0.00 1,096,618.06
B-5 1,375,121.80 1,371,964.19 1,070.16 7,717.30 8,787.46 0.00 0.00 0.00 1,370,894.03
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 550,002,018.91 535,313,165.12 8,718,893.74 2,916,139.78 11,635,033.52 0.00 0.00 0.00 526,656,034.74
- ------------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
ORIGINAL BEGINNING ENDING
NOTIONAL NOTIONAL INTEREST TOTAL NOTIONAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A-5 5,505,525.93 5,505,525.93 30,968.58 30,968.58 5,505,525.93
A-X 523,531,639.82 508,914,380.73 188,526.17 188,526.17 500,285,785.92
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
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 6.60800582 6.56171828 977.64981141 A-6 8.00000000%
A-7 6.60800614 5.70049317 977.64981105 A-7 6.95000000%
A-8 6.60800600 5.74150400 977.64981200 A-8 7.00000000%
A-9 6.60800630 5.65948239 977.64981065 A-9 6.90000000%
A-10 CP1 6.60800630 5.65948239 977.64981065 A-10 CP1 7.05000000%
A-10 CP2 6.60800588 5.78251412 977.64981176 A-10 CP2 7.05000000%
A-11 CP1 6.60800588 5.78251412 977.64981176 A-11 CP1 6.95000000%
A-11 CP2 6.60800588 5.70049294 977.64981294 A-11 CP2 6.95000000%
A-12 339.26433974 0.00000000 138.24561286 A-12 7.00000000%
A-13 0.00000000 0.00000000 1023.53829630 A-13 7.00000000%
A-14 33.29870873 N/A 910.29177100 A-14 N/A
A-15 1.10434009 5.62500000 996.22067967 A-15 6.75000000%
A-P 1.10434009 N/A 996.22067967 A-P N/A
A-R 0.00000000 0.00000000 0.00000000 A-R 6.75000000%
A-X N/A 0.36010463 955.59799612 A-X 0.44453000%
M 0.77823256 5.61208372 996.92551121 M 6.75000000%
B-1 0.77823102 5.61208342 996.92551016 B-1 6.75000000%
B-2 0.77823030 5.61208485 996.92551111 B-2 6.75000000%
B-3 0.77822857 5.61208312 996.92551688 B-3 6.75000000%
B-4 0.77822727 5.61208182 996.92550909 B-4 6.75000000%
B-5 0.77822924 5.61208469 996.92553052 B-5 6.75000000%
- --------------------------------------------------------------------- ----------------------------------------------------
(C) COPYRIGHT 1998, THE CHASE MANHATTAN BANK
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Nov-98 PAGE # 2
RECORD DATE: 31-Oct-98
<S> <C> <C>
SECTION 6.02 (iii) AGGREGATE PRINCIPAL PREPAYMENT AMOUNT 8,239,542.09
AGGREGATE REPURCHASE PROCEEDS AMOUNT 0.00
SECTION 6.02 (iv) AGGREGATE SERVICER ADVANCES 0.00
SECTION 6.02 (iv) NUMBER OF OUTSTANDING MORTGAGE LOANS 1,702
ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL 526,656,034.74
SECTION 6.02 (vi) SERVICING FEES 137,085.03
SECTION 6.02 (vii) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
--------------------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
--------------------------------------------------------------------------------------------------------
1 MONTH 17 6,170,525.29
2 MONTHS 3 769,285.40
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 95.64% 511,991,718.59
CLASS M 2.20% 11,797,846.77
CLASS B 2.15% 11,523,599.76
--------------------------------------------------------------------------------------------------------
NON-PO CLASS A PERCENTAGE 95.64012%
NON-PO CLASS A PREPAYMENT PERCENTAGE 100.00000%
CREDIT SUPPORT LEVEL
---------------------------------------------------------------------
---------------------------------------------------------------------
M 2.15%
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 1998, THE CHASE MANHATTAN BANK
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE TRUST
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S6
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Nov-98 PAGE # 1
RECORD DATE: 31-Oct-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 76,508,000.00 75,992,614.09 742,780.56 427,458.45 1,170,239.01 0.00 0.00 0.00 75,249,833.53
A-2 75,000,000.00 74,505,840.22 712,189.20 419,095.35 1,131,284.55 0.00 0.00 0.00 73,793,651.02
A-3 155,000,000.00 154,125,680.42 1,260,080.20 866,956.95 2,127,037.15 0.00 0.00 0.00 152,865,600.22
A-4 150,000,000.00 149,237,706.06 1,098,627.48 839,462.10 1,938,089.58 0.00 0.00 0.00 148,139,078.58
A-5 12,605,000.00 12,605,000.00 0.00 70,903.13 70,903.13 0.00 0.00 0.00 12,605,000.00
A-6 7,242,000.00 7,242,000.00 0.00 37,718.75 37,718.75 0.00 0.00 0.00 7,242,000.00
A-7 17,324,112.00 17,324,112.00 0.00 90,229.75 90,229.75 0.00 0.00 0.00 17,324,112.00
A-8 7,018,888.00 7,018,888.00 0.00 32,283.26 32,283.26 0.00 0.00 0.00 7,018,888.00
A-10 12,836,000.00 12,726,733.34 131,091.16 71,587.88 202,679.04 0.00 0.00 0.00 12,595,642.18
A-11 17,127,529.00 17,100,796.68 39,790.85 81,504.96 121,295.81 0.00 0.00 0.00 17,061,005.83
A-12 4,440,471.00 4,433,540.40 10,316.15 39,625.69 49,941.84 0.00 0.00 0.00 4,423,224.25
A-13 5,736,656.00 5,510,825.57 346,389.31 28,673.51 375,062.82 0.00 0.00 0.00 5,164,436.26
A-14 1,062,344.00 1,020,523.54 64,146.19 8,065.33 72,211.52 0.00 0.00 0.00 956,377.35
A-15 26,373,750.00 26,373,750.00 0.00 132,294.69 132,294.69 0.00 0.00 0.00 26,373,750.00
A-16 8,791,250.00 8,791,250.00 0.00 65,508.44 65,508.44 0.00 0.00 0.00 8,791,250.00
A-17 67,500,000.00 67,500,000.00 0.00 379,687.50 379,687.50 0.00 0.00 0.00 67,500,000.00
A-P 1,786,904.00 1,785,019.36 3,694.14 N/A 3,694.14 0.00 0.00 0.00 1,781,325.22
A-R 100.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
M 14,513,400.00 14,502,094.49 11,385.87 81,574.28 92,960.15 0.00 0.00 0.00 14,490,708.62
B-1 5,737,800.00 5,733,330.42 4,501.35 32,249.98 36,751.33 0.00 0.00 0.00 5,728,829.07
B-2 3,037,700.00 3,035,333.72 2,383.10 17,073.75 19,456.85 0.00 0.00 0.00 3,032,950.62
B-3 2,362,700.00 2,360,859.53 1,853.56 13,279.83 15,133.39 0.00 0.00 0.00 2,359,005.97
B-4 1,350,000.00 1,348,948.39 1,059.08 7,587.83 8,646.91 0.00 0.00 0.00 1,347,889.31
B-5 1,687,709.89 1,686,395.21 1,324.01 9,485.97 10,809.98 0.00 0.00 0.00 1,685,071.20
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 675,042,313.90 671,961,241.44 4,431,612.21 3,752,307.38 8,183,919.59 0.00 0.00 0.00 667,529,629.23
- ------------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------
ORIGINAL BEGINNING ENDING
NOTIONAL NOTIONAL INTEREST TOTAL NOTIONAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION BALANCE
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A-9 7,018,888.00 7,018,888.00 17,433.86 17,433.86 7,018,888.00
A-X 586,060,663.88 583,086,862.62 166,905.92 166,905.92 578,771,351.80
- --------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
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 9.70853453 5.58710788 983.55509921 A-1 6.75000000%
A-2 9.49585600 5.58793800 983.91534693 A-2 6.75000000%
A-3 8.12954968 5.59327065 986.22967884 A-3 6.75000000%
A-4 7.32418320 5.59641400 987.59385720 A-4 6.75000000%
A-5 0.00000000 5.62500040 1000.00000000 A-5 6.75000000%
A-6 0.00000000 5.20833333 1000.00000000 A-6 6.25000000%
A-7 0.00000000 5.20833333 1000.00000000 A-7 6.25000000%
A-8 0.00000000 4.59948356 1000.00000000 A-8 5.51938000%
A-9 N/A 2.48384929 1000.00000000 A-9 2.98062000%
A-10 10.21277345 5.57711748 981.27471019 A-10 6.75000000%
A-11 2.32321020 4.75871096 996.11600891 A-11 5.71938000%
A-12 2.32321076 8.92375831 996.11600886 A-12 0.72525019%
A-13 60.38174679 4.99829692 900.25203882 A-13 6.24375000%
A-14 60.38175017 7.59201351 900.25203700 A-14 9.48375169%
A-15 0.00000000 5.01615015 1000.00000000 A-15 6.01938000%
A-16 0.00000000 7.45155012 1000.00000000 A-16 8.94186000%
A-17 0.00000000 5.62500000 1000.00000000 A-17 6.75000000%
A-P 2.06734105 N/A 996.87796323 A-P N/A
A-R 0.00000000 0.00000000 0.00000000 A-R 6.75000000%
A-X N/A 0.28479291 987.56218847 A-X 0.34327000%
M 0.78450742 5.62061819 998.43652211 M 6.75000000%
B-1 0.78450800 5.62061766 998.43652097 B-1 6.75000000%
B-2 0.78450802 5.62061757 998.43652105 B-2 6.75000000%
B-3 0.78450925 5.62061624 998.43652178 B-3 6.75000000%
B-4 0.78450370 5.62061481 998.43652593 B-4 6.75000000%
B-5 0.78450094 5.62061647 998.43652632 B-5 6.75000000%
- ---------------------------------------------------------------------- ------------------------
(C) COPYRIGHT 1998, THE CHASE MANHATTAN BANK
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Nov-98 PAGE # 2
RECORD DATE: 31-Oct-98
<S> <C> <C>
SECTION 6.02 (iii) AGGREGATE PRINCIPAL PREPAYMENT AMOUNT 3,903,819.75
AGGREGATE REPURCHASE PROCEEDS AMOUNT 0.00
SECTION 6.02 (iv) AGGREGATE SERVICER ADVANCES 0.00
SECTION 6.02 (iv) NUMBER OF OUTSTANDING MORTGAGE LOANS 1,973
ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL 667,529,629.23
SECTION 6.02 (vi) SERVICING FEES 172,077.95
SECTION 6.02 (vii) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
--------------------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
--------------------------------------------------------------------------------------------------------
1 MONTH 11 3,984,069.50
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% 643,294,279.68
CLASS M 2.16% 14,502,094.49
CLASS B 2.11% 14,164,867.27
--------------------------------------------------------------------------------------------------------
NON-PO CLASS A PERCENTAGE 95.72216%
NON-PO CLASS A PREPAYMENT PERCENTAGE 100.00000%
CREDIT SUPPORT LEVEL
---------------------------------------------------------------------
---------------------------------------------------------------------
M 2.11%
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
(C) COPYRIGHT 1998, THE CHASE MANHATTAN BANK
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE CORPORATION
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-AS1
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Nov-98 PAGE # 1
RECORD DATE: 31-Oct-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 37,502,672.38 1,344,756.72 210,952.53 1,555,709.25 0.00 0.00 0.00 36,157,915.66
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 24,663,308.58 514,171.65 138,731.11 652,902.76 0.00 0.00 0.00 24,149,136.93
A-R 100.85 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-P 3,123.00 3,105.15 7.90 N/A 7.90 0.00 0.00 0.00 3,097.25
IIA-1 12,262,215.00 11,800,108.02 117,485.09 66,375.61 183,860.70 0.00 0.00 0.00 11,682,622.93
M 5,512,562.00 5,497,674.80 5,090.35 30,924.42 36,014.77 0.00 0.00 0.00 5,492,584.45
B-1 2,537,528.00 2,530,675.16 2,343.18 14,235.05 16,578.23 0.00 0.00 0.00 2,528,331.98
B-2 1,662,518.00 1,658,028.21 1,535.18 9,326.41 10,861.59 0.00 0.00 0.00 1,656,493.03
B-3 875,009.00 872,645.96 807.99 4,908.63 5,716.62 0.00 0.00 0.00 871,837.97
B-4 437,504.00 436,322.48 403.99 2,454.31 2,858.30 0.00 0.00 0.00 435,918.49
B-5 787,514.84 785,388.08 727.20 4,417.81 5,145.01 0.00 0.00 0.00 784,660.88
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 175,001,995.69 169,699,896.82 1,987,329.25 954,544.45 2,941,873.70 0.00 0.00 0.00 167,712,567.57
- ------------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------
ORIGINAL BEGINNING ENDING
NOTIONAL NOTIONAL INTEREST TOTAL NOTIONAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION BALANCE
- -----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
IA-X 161,621,229.80 156,790,268.16 116,283.10 116,283.10 154,923,694.51
IIA-X 13,050,781.79 12,581,531.94 7,301.55 7,301.55 12,461,610.44
- -----------------------------------------------------------------------------------------------------------------
TOTAL 174,672,011.59 169,371,800.10 123,584.65 123,584.65 167,385,304.95
- -----------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
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>
IA-1 32.81434953 5.14760027 882.31459637 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 19.78100543 5.33720760 929.05590697 IA-9 6.750000%
IA-X N/A 0.71947912 958.56029992 IA-X N/A
A-P 2.52961896 N/A 991.75472302 A-P N/A
IIA-1 9.58106590 5.41301959 952.73349309 IIA-1 6.750000%
IIA-X N/A 0.55947223 954.85547460 IIA-X N/A
A-R 0.00000000 0.00000000 0.00000000 A-R 6.750000%
M 0.92340912 5.60980901 996.37599541 M 6.750000%
B-1 0.92341050 5.60981002 996.37599270 B-1 6.750000%
B-2 0.92340654 5.60980994 996.37599713 B-2 6.750000%
B-3 0.92340764 5.60980516 996.37600299 B-3 6.750000%
B-4 0.92339727 5.60980014 996.37601028 B-4 6.750000%
B-5 0.92341117 5.60981175 996.37599210 B-5 6.750000%
- ----------------------------------------------------------------------------- ----------------------------
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Nov-98 PAGE # 2
RECORD DATE: 31-Oct-98
<S> <C> <C>
SECTION 6.02 (iii) AGGREGATE PRINCIPAL PREPAYMENT AMOUNT 1,830,200.57
AGGREGATE REPURCHASE PROCEEDS AMOUNT 0.00
SECTION 6.02 (iv) AGGREGATE SERVICER ADVANCES 976,521.87
SECTION 6.02 (v) NUMBER OF OUTSTANDING MORTGAGE LOANS 1,444
ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL 167,712,567.72
SECTION 6.02 (vi) SERVICING FEES 44,390.63
SECTION 6.02 (vii) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
--------------------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
--------------------------------------------------------------------------------------------------------
1 MONTH 22 2,511,743.50
2 MONTHS 0 0.00
3+ MONTHS 0 0.00
FORECLOSURE 1 81,305.66
--------------------------------------------------------------------------------------------------------
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 13,091.78
DUE PERIOD
--------------------------------------------------------------------------------------------------------
SECTION 6.02 (x) CLASS PERCENTAGE PRINCIPAL BALANCE
----------------------------------- ----------------------------------
--------------------------------------------------------------------------------------------------------
CLASS A 93.06% 157,919,162.13
CLASS M 3.24% 5,497,674.80
CLASS B 3.70% 6,283,059.89
--------------------------------------------------------------------------------------------------------
NON-PO CLASS A PERCENTAGE 93.05777%
NON-PO CLASS A PREPAYMENT PERCENTAGE 100.00000%
CREDIT SUPPORT LEVEL
---------------------------------------------------------------------
CLASS CREDIT SUPPORT
---------------------------------------------------------------------
----------------------------------
M 3.70%
B-1 2.21%
B-2 1.23%
B-3 0.72%
B-4 0.46%
---------------------------------------------------------------------
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>
<PAGE>
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MORTGAGE FINANCE TRUST
MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-AS2
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Nov-98 PAGE # 1
RECORD DATE: 31-Oct-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 22,617,491.00 22,450,718.48 88,680.88 126,285.29 214,966.17 0.00 0.00 0.00 22,362,037.60
IIA-1 158,553,358.00 157,459,500.80 1,328,817.53 918,513.75 2,247,331.28 0.00 0.00 0.00 156,130,683.27
IIA-2 5,872,347.00 5,831,833.77 49,215.47 N/A 49,215.47 0.00 0.00 0.00 5,782,618.30
IIIA-1 55,404,303.00 52,508,674.56 1,368,862.00 295,361.29 1,664,223.29 0.00 0.00 0.00 51,139,812.56
IIIA-2 1,000,000.00 1,000,000.00 0.00 5,625.00 5,625.00 0.00 0.00 0.00 1,000,000.00
IIIA-3 6,250,000.00 6,250,000.00 0.00 35,156.25 35,156.25 0.00 0.00 0.00 6,250,000.00
A-P 64,974.00 64,812.27 154.50 N/A 154.50 0.00 0.00 0.00 64,657.77
A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
M 6,625,002.00 6,618,566.40 6,517.39 37,229.44 43,746.83 0.00 0.00 0.00 6,612,049.01
B-1 3,577,501.00 3,574,025.78 3,519.39 20,103.90 23,623.29 0.00 0.00 0.00 3,570,506.39
B-2 2,120,001.00 2,117,941.61 2,085.57 11,913.42 13,998.99 0.00 0.00 0.00 2,115,856.04
B-3 1,060,000.00 1,058,970.31 1,042.78 5,956.71 6,999.49 0.00 0.00 0.00 1,057,927.53
B-4 662,500.00 661,856.44 651.74 3,722.94 4,374.68 0.00 0.00 0.00 661,204.70
B-5 1,192,501.21 1,191,342.80 1,173.13 6,701.30 7,874.43 0.00 0.00 0.00 1,190,169.67
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 265,000,078.21 260,788,243.22 2,850,720.38 1,466,569.29 4,317,289.67 0.00 0.00 0.00 257,937,522.84
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
ORIGINAL BEGINNING ENDING
NOTIONAL NOTIONAL INTEREST TOTAL NOTIONAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A-X 258,987,588.61 254,789,791.86 150,770.83 150,770.83 251,952,280.53
- ---------------------------------------------------------------------------------------------------------------------------------
TOTAL 258,987,588.61 254,789,791.86 150,770.83 150,770.83 251,952,280.53
- ---------------------------------------------------------------------------------------------------------------------------------
- ----------
- ------------------------------------------------------------------------------------------------------------------------------------
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 3.92089821 5.58352339 988.70549346 IA-1 6.750000%
IIA-1 8.38088544 5.79308923 984.72012980 IIA-1 7.000000%
IIA-2 8.38088587 N/A 984.72012979 IIA-2 N/A
IIIA-1 24.70678135 5.33101716 923.02961667 IIIA-1 6.750000%
IIIA-2 0.00000000 5.62500000 1000.00000000 IIIA-2 6.750000%
IIIA-3 0.00000000 5.62500000 1000.00000000 IIIA-3 6.750000%
A-X N/A 0.58215465 972.83534660 A-X 0.710096%
A-P 2.37787423 N/A 995.13297627 A-P N/A
A-R 0.00000000 0.00000000 0.00000000 A-R 6.750000%
M 0.98375668 5.61953642 998.04483229 M 6.750000%
B-1 0.98375654 5.61953721 998.04483353 B-1 6.750000%
B-2 0.98375897 5.61953509 998.04483111 B-2 6.750000%
B-3 0.98375472 5.61953774 998.04483962 B-3 6.750000%
B-4 0.98375849 5.61953208 998.04483019 B-4 6.750000%
B-5 0.98375582 5.61953308 998.04483217 B-5 6.750000%
- -------------------------------------------------------------------------- -------------------------
(C) COPYRIGHT 1998, THE CHASE MANHATTAN BANK
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: 25-Nov-98 PAGE # 2
RECORD DATE: 31-Oct-98
<S> <C> <C>
SECTION 6.02 (iii) AGGREGATE PRINCIPAL PREPAYMENT AMOUNT 2,593,845.17
AGGREGATE REPURCHASE PROCEEDS AMOUNT 0.00
SECTION 6.02 (iv) AGGREGATE SERVICER ADVANCES 0.00
SECTION 6.02 (v) NUMBER OF OUTSTANDING MORTGAGE LOANS 2,055
ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL 257,937,522.84
SECTION 6.02 (vi) SERVICING FEES 67,457.23
SECTION 6.02 (vii) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
--------------------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
--------------------------------------------------------------------------------------------------------
1 MONTH 20 2,152,834.63
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 94.16% 245,565,539.88
CLASS M 2.54% 6,618,566.40
CLASS B 3.30% 8,604,136.94
--------------------------------------------------------------------------------------------------------
NON-PO CLASS A PERCENTAGE 94.16136%
NON-PO CLASS A PREPAYMENT PERCENTAGE 100.00000%
CREDIT SUPPORT LEVEL
---------------------------------------------------------------------
CLASS CREDIT SUPPORT
---------------------------------------------------------------------
----------------------------------
M 3.30%
B-1 1.93%
B-2 1.12%
B-3 0.71%
B-4 0.46%
---------------------------------------------------------------------
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
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
