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CHASE MORTGAGE FINANCE CORP. SERIES 1993E CLASS A 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, March 31 /PRNewswire/ -- Chase Mortgage Finance Corp.'s multi-class mortgage pass-through certificates, series 1993E $201.5 million class A are rated `AAA' by Fitch. The $3.7 million class M is rated `AA.' The ratings are based on the quality of the mortgage collateral, the credit support, the integrity of the legal and financial structures and the excellent master servicing capabilities of Chase Home Mortgage Corp. The 5.25 percent cross-collateralized credit support for the class A certificates is provided by subordinate class M and B certificates, while the 3.5 percent credit support for the class M certificates is provided by the subordinate class B certificates (not offered, privately placed).
 The mortgage pool consists of two loan groups of recently originated, fixed-rate one- to four-family residential mortgage loans. Fitch analyzed the characteristics of each loan group separately and then combined the groups to determine the credit enhancement coverage necessary for the `AAA' level. Mortgage Group One, which constitutes approximately 36 percent of the mortgage pool, consists of 10 year (3 percent) and 15 year (77 percent) mortgage loans as well as 10- and 15- year balloon payment mortgage loans (20 percent). Mortgage Group Two, which constitutes 64 percent of the mortgage pool, consists primarily of loans with original terms of 20, 25 or 30 years.
 The class M certificates consist of two components, component one and component two. The class IA certificates and component one of the class M certificates will receive distributions based on payments received on the Mortgage Group One mortgage loans. The class IIA certificates and component two of the class M certificates will receive distributions based on payments received on the Mortgage Group Two mortgage loans.
 Approximately 35 percent of the combined pool is secured by properties located in California, while most of the remaining properties are located in the Northeast. Approximately 17 percent, 4 percent and 13 percent of the combined pool consists of cash-out refinance loans, non- owner occupied properties and properties which are condominiums, planned unit developments (PUDs) or shares issued by co-operative housing corporations, respectively. The credit enhancement level reflects the credit quality of the 15-year mortgage loans as well as the very low overall weighted average original loan-to-value ratio of 66 percent.
 The mortgage loans were originated primarily by Chase Manhattan Personal Financial Services (48 percent) and Chase Home Mortgage Corp. (42 percent). Chase Mortgage Finance Corp. purchased the loans from the sellers and subsequently assigned the loans to the trust. Two real estate mortgage investment conduit elections will be made for federal income tax purposes.
 -0- 3/31/93
 /CONTACT: Michele J. Loesch, 212-908-0686, or Mary Sue Lundy, 212-908-0526, both of Fitch/


CO: Chase Mortgage Finance Corp. ST: New York IN: FIN SU: RTG

CK -- NY031 -- 1451 03/31/93 11:13 EST
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Date:Mar 31, 1993
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