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CHASE MORTGAGE FINANCE PASS-THRU SERIES 1992K CLASS A 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

CHASE MORTGAGE FINANCE PASS-THRU SERIES 1992K CLASS A 'AAA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Oct. 30 /PRNewswire/ -- Chase Mortgage Finance Corp.'s $399.5 million multi-class mortgage pass-through certificates, series 1992K, class A are rated 'AAA' by Fitch. The rating reflects the high quality of the mortgage collateral, credit loss coverage provided by the unrated 5.25 percent subordinated 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 recently originated fixed-rate, first lien, one- to four-family residential mortgage loans with original terms primarily of 15 years (20 percent) and 30 years (69 percent). Approximately 74 percent of the pool consists of loans with balances greater than $300,000. The credit enhancement level was increased to reflect the potential for market value declines on these property types. However, Chase originators generally require a larger down payment by borrowers on these property types. This in turn should reduce the default and loss exposure of the pool. Additionally, 97 percent of the loans are secured by owner- occupied properties, which should enhance the pool quality further since owners of primary residences are less likely to default on their mortgage payments than owners of second homes and investor properties. These factors, combined with the pool's low weighted average original loan-to-value ratio of approximately 66 percent, are reflected in the credit enhancement level. Approximately 17 percent of the pool consists of cash-out refinance loans, 2 percent are limited documentation loans and 36 percent are located in California.
 Several Chase entities originated the mortgage loans in the pool, although most were originated primarily by Chase Manhattan Personal Financial Services (Chase Financial Services) (58 percent) and Chase Home Mortgage (30 percent). The underwriting guidelines developed by Chase Home Mortgage and Chase Financial Services generally focus on the borrower's credit standing, ability to repay, as well as collateral value. Fitch anticipates that the mortgage pool will perform with similar delinquency and loss experience to that of both institution's residential mortgage loan portfolios.
 -0- 10/30/92
 /CONTACT: Michele J. Loesch, 212-908-0686, or Mary Sue Lundy, 212-908-0526, both of Fitch/ CO: Chase Mortgage Finance Corp. ST: IN: FIN SU: RTG


PS -- NY039 -- 7045 10/30/92 10:36 EST
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Date:Oct 30, 1992
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