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CHASE MORTGAGE FINANCE CORP. SERIES 1992I CLASS A RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

CHASE MORTGAGE FINANCE CORP. SERIES 1992I CLASS A RATED 'AAA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Sept. 25 /PRNewswire/ -- Chase Mortgage Finance Corp.'s $373 million multi-class mortgage pass-through certificates, Series 1992I, Class A, are rated "AAA" by Fitch. The rating reflects the high quality of the mortgage collateral, credit loss coverage provided by the 9.25 percent subordinate Class B certificates, the integrity of the legal and financial structures, and the excellent master servicing capabilities of Chase Home Mortgage Corp.
 The collateral for the certificates will be provided by a pool of fixed-rate, first lien, one- to four-family residential mortgage loans which are seasoned on average three years. The pool consists of loans generally with original terms of 30 years (40 percent) and 15 years (22 percent) as well as balloon payment mortgage loans with maturities of seven, ten and 15 years (35 percent). Approximately 81 percent of the pool consists of single-family detached properties and detached planned unit developments (PUDs), 17 percent are condominiums, attached PUDs, townhouses, shares issued by co-operative housing corporations, and 2 percent are two- to four-family units.
 Chase Manhattan Personal Financial Services ("Chase Financial Services") originated approximately 76 percent of the mortgage loans in the pool. Fitch believes the underwriting guidelines developed by Chase Financial Services, which emphasize the analysis of the borrower's financial status and ability to repay, combined with its low delinquency and loss history on its residential mortgage loan portfolio, will mitigate the potential for defaults and losses. The weighted average original loan-to-value ratio of the pool is 73.1 percent and approximately 34 percent of the pool consists of loans with original loan-to-value (LTVs) ratios greater than 80 percent, of which only 3.9 percent are covered by primary mortgage insurance (PMI). The credit enhancement level was adjusted to reflect the pool's increased exposure to loss due to the high LTV loans and lack of PMI.
 Approximately 7.5 percent of the mortgage loans in the pool are located in Florida, of which .09 percent are located in Broward, Dade, or Monroe counties, areas which have been declared eligible for federal disaster relief as a result of Hurricane Andrew. Chase Mortgage Finance Corp. is not aware that any of the related properties in the pool have suffered material damage, but if they have, the sellers of the mortgage loans are obligated to repurchase the mortgage loan out of the pool.
 -0- 9/25/92
 /CONTACT: Michele J. Loesch, 212-908-0686, or Mary Sue Lundy, 212-908-0526/ CO: Chase Mortgage Finance Corp. ST: New York IN: FIN SU: RTG


GK -- NY034 -- 3496 09/25/92 11:51 EDT
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Publication:PR Newswire
Date:Sep 25, 1992
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