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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 10-K/A
Amendment No. 1
FOR ANNUAL AND TRANSITION REPORTS
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934.
For the Fiscal Year Ended: December 31, 1999
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934.
For the transition period from _____ to _____
Commission file number 33-93570
Chase Manhattan Home Equity Loan Trust 1995-1 (issuer)
The Chase Manhattan Bank (originator of the Trust referred to herein)
(Exact name of registrant as specified in its charter)
New York 13-4994650
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(State of Other Jurisdiction of (IRS Employer
Incorporation or Organization) Identification Number)
270 Park Avenue, New York, New York 10017
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 270-6000
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Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class Name of Each Exchange of Which Registered
None N/A
Securities registered pursuant to Section 12(g) of the Act:
None
(Title of Each Class)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the last 90 days: YES X NO
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Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be contained,
to the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. X
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State the aggregate market value of the voting and non-voting common
equity held by non-affiliates of the registrants. The aggregate market value
shall be computed by reference to the price at which the common equity was sold,
or the average bid and asked prices of such common equity, as of a specified
date within 60 days prior to the date of filing.
The registrant has no voting or non-voting common stock outstanding as
of the date of this report. The registrant is a trust that has issued
certificates of beneficial interest in the trust assets.
DOCUMENTS INCORPORATED BY REFERENCE.
List hereunder the following documents if incorporated by reference and
the Part of the Form 10-K (e.g., Part I, Part II, etc.) into which the document
is incorporated: (1) any annual report to security holders; (2) any proxy or
information statement; and (3) any prospectus filed pursuant to Rule 424(b) or
(c) under the Securities Act of 1933. The listed documents should be clearly
described for identification purposes (e.g., annual report to security holders
for fiscal year ended December 31, 1980).
None.
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Introductory Note
This Amendment No.1 on Form 10-K/A amends Item 14 of the original
Annual Report on Form 10-K (the "Original Form 10-K") filed on March 30, 2000,
on behalf of Chase Manhattan Home Equity Loan Trust 1995-1 (the "Trust"),
established pursuant to a Pooling and Servicing Agreement (the "Agreement")
between The Chase Manhattan Bank (the "Bank"), as seller and servicer, and an
unrelated trustee (the "Trustee"). The Trust files reports pursuant to Sections
13 and 15(d) of the Securities Exchange Act of 1934, as amended the ("Exchange
Act"), in the Manner described in "no-action" letters submitted to the Office of
the Chief Counsel on behalf of the originators of comparable trusts.
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Item 14 of the Original Form 10-K is amended to read in its entirety as follows:
Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K
Exhibit Number Description
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28.1 Annual Servicer's Certificate pursuant to
Section 3.9 of the Pooling and Servicing
Agreement
28.2 Annual Independent Accountants' Servicing
Reports pursuant to Section 3.10 of the
Pooling and Servicing Agreement
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SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
Chase Manhattan Home Equity
Loan Trust 1995-1
by The Chase Manhattan Bank
By: /s/ Richard Dargan
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Name: Richard Dargan
Title: Vice President
Dated: April 28, 2000
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INDEX TO EXHIBITS
Exhibit Number Description
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28.1 Annual Servicer's Certificate pursuant to
Section 3.9 of the Pooling and Servicing
Agreement
28.2 Annual Independent Accountants' Servicing
Reports pursuant to Section 3.10 of the
Pooling and Servicing Agreement
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Exhibit 28.1
[CHASE LOGO]
Chase Manhattan Mortgage Corporation
250 West Huron
Cleveland, OH 44113-1451
(216) 479-2500
March 28, 2000
PricewaterhouseCoopers, LLP
650 Third Avenue South, Suite 1300
Minneapolis, MN 55402-4333
In connection with your examination of our assertion that Chase Manhattan
Mortgage Corporation and its subsidiaries (the "Company") complied with the
minimum servicing standards in the Mortgage Bankers of America's Uniform Single
Attestation Program for Mortgage Bankers ("USAP") exclusive of standards I.4.,
III.3., III.4., V.3. and V.4., (collectively the "Applicable Standards") solely
for the purpose of servicing the home equity loans underlying the Revolving Home
Equity Loan Asset Backed Certificate Series 1995-1 (the "Agreement") as of and
for the year ended December 31, 1999, we recognize that obtaining
representations from us concerning the information contained in this letter is a
significant procedure in enabling you to express an opinion on management's
assertion about compliance with the minimum servicing standards. Accordingly, we
make the following representations regarding servicing of loans underlying the
Agreement, which are true to the best of our knowledge and belief in all
material respects:
1. We are responsible for complying with the Applicable Standards. As these
loans are open ended home equity loans, rather than first mortgage loans,
certain USAP minimum servicing standards relating to escrows however are
not applicable. Specifically these included USAP minimum servicing
standards I.4., III.3., III.4., V.3. and V.4.
2. We are responsible for establishing and maintaining an effective internal
control over compliance with the Applicable Standards.
3. We have performed an evaluation of the Company's compliance with the
Applicable Standards.
4. As of and for the year ended December 31, 1999, the Company has complied
with the Applicable Standards as they relate to the loans underlying the
Agreement. We make no assertion regarding our compliance with minimum
servicing standards as they relate to first mortgage loans that are not
related to the Agreement.
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PricewaterhouseCoopers, LLP
March 28, 2000
Page 2
5. We have disclosed to you all known noncompliance with the Applicable
Standards.
6. We have made available to you all documentation related to compliance with
the Applicable Standards.
7. We have disclosed any communications from regulatory agencies, internal
auditors, and other practitioners concerning possible noncompliance with
the Applicable Standards, including communications received between
December 31, 1999 through the date of this letter.
8. We have disclosed to you any known noncompliance with the Applicable
Standards occurring subsequent to December 31, 1999 through the date of
this letter.
/s/ Richard Dargan
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Richard Dargan
Vice President - Finance
Chase Manhattan Mortgage Corporation
/s/ Lucy Gambino
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Lucy Gambino
Vice President of Risk Management
Chase Manhattan Mortgage Corporation
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Exhibit 28.2
[PRICEWATERHOUSECOOPERS LOGO]
PricewaterhouseCoopers LLP
650 Third Avenue South
Park Building
Suite 1300
Minneapolis, MN 55402-4333
Telephone (612) 596 6000
Facsimile (612) 373 7160
Report of Independent Accountants
To the Board of Directors and Stockholder
of Chase Manhattan Mortgage Corporation
We have examined management's assertion about Chase Manhattan Mortgage
Corporation and its subsidiaries' (the "Company") compliance with the minimum
servicing standards identified in the Mortgage Bankers Association of America's
Uniform Single Attestation Program for Mortgage Bankers ("USAP") exclusive of
standards 1.4., III.3, III.4., V.3. and V.4., (collectively the "Applicable
Standards") solely for the purposes of servicing the home equity loans
underlying the Revolving Home Equity Loan Asset Backed Certificate Series 1995-1
(the "Agreement") as of and for the year ended December 31, 1999 included in the
accompanying management assertion (see Exhibit I).
As the loans applicable to management's assertion are home equity loans, rather
than first mortgage loans, certain USAP minimum servicing standards relating to
escrows are not applicable. Therefore, USAP minimum servicing standards I.4.,
III.3., III.4.; V.3., and V.4., were not addressed during our examination.
Further, management's assertion and this report relate only to the servicing of
home equity loans underlying the Agreement and not loans in the residential loan
servicing population.
Management is responsible for the Company's compliance with those Applicable
Standards. Our responsibility is to express an opinion exclusively on
management's assertion about the entity's compliance with the Applicable
Standards based on our examination.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly, included
examining, on a test basis, evidence about the Company's compliance with the
Applicable Standards and performing such other procedures as we considered
necessary in the circumstances. We believe that our examination provides a
reasonable basis for our opinion. Our examination does not provide a legal
determination on the Company's compliance with the Applicable Standards.
In our opinion, management's assertion that the Company complied with the
Applicable Standards solely for the purpose of servicing loans underlying the
Agreement as of and for the year ended December 31, 1999 is fairly stated, in
all material respects.
/s/ PRICEWATERHOUSECOOPERS LLP
March 8, 2000
