Exhibit 20.1

                       MONTHLY CERTIFICATE HOLDERS REPORT
                       ----------------------------------


Due Period :  13Beginning Date     :  09/01/1996  End Date        :  09/30/1996
                Determination Date :  10/09/1996  Remittance Date :  10/15/1996


                       CHASE HOME EQUITY LOAN TRUST, Series 1995-1


     I. Floating Allocation Percentage

Beginning %   97.625594896731%
Ending %      97.607308245758%

    II. Cash Received

SERVICER            The Chase Manhattan Bank
Interest Collected                2,669,921.00
Principal Collected              10,298,985.28
Additional Draw                   7,686,502.90

   III. Pool Balance

Beginning Balance      341,826,672.24     341,826,672.24
Principal Payments      10,612,128.93      10,612,128.93
Prin Pay Rev               313,143.65         313,143.65
Advances                 7,686,502.90       7,686,502.90
Advance Rev                      0.00               0.00
Liquidation Loss                 0.00               0.00
Ending Balance         339,214,189.86     339,214,189.86

<TABLE>
<CAPTION>

    IV. Interest to Certificateholders

              TRANCH       Beg. Balance               Rate   Schduled Int Int Shrtfall   Disbrsed Int
             <S>           <C>                 <C>          <C>          <C>          <C>
     
                 A-1     298,324,085.62        5.74391000% $ 1,380,357.06       $ 0.00 $ 1,380,357.06
                 A-2      33,356,975.67        5.72000000%   $ 153,701.53       $ 0.00   $ 153,701.53
               TOTAL     331,681,061.29                    $ 1,534,058.59       $ 0.00 $ 1,534,058.59

                  SI       8,116,349.95        0.00000000%    $ 60,012.93       $ 0.00    $ 60,012.93
               TOTAL       8,116,349.95                       $ 60,012.93       $ 0.00    $ 60,012.93

     V. Principal to Certificateholders

              TRANCH       Beg. Balance Schduled Principal     Recovered Loss   Ending Principal       Cert. Factor
             <S>           <C>                 <C>          <C>          <C>          <C>
 
                 A-1     298,324,085.62       2,349,746.51               0.00     295,974,339.11          0.8273560
                 A-2      33,356,975.67         262,735.87               0.00      33,094,239.80          0.8273560
               TOTAL     331,681,061.29       2,612,482.38               0.00     329,068,578.91

                  SI       8,116,349.95               0.00               0.00       8,116,349.95          0.9999144
               TOTAL       8,116,349.95               0.00               0.00       8,116,349.95
</TABLE>

    VI. Overdue Interest

               GROUP   Overdue Interest    Int. On Overdue  Remaining Overdue
  MORTGAGE GROUP ONE               0.00               0.00               0.00

   VII. Invested Amount

               GROUP    Invested Amount
  MORTGAGE GROUP ONE     331,097,839.91


<PAGE>

                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------


Due Period :  13Beginning Date     :  09/01/1996  End Date         :  09/30/1996
                Determination Date :  10/09/1996  Remittance Date  :  10/15/1996


  VIII. Liquidation Loss

Liquidation Loss Amount               0.00
Loss Investor Cert.                   0.00
Reimbursed Amount                     0.00
Unreimbursed Amount                   0.00

    IX. Loss Recovery

Total Amount               0.00

     X. Servicing Fee

SERVICER        The Chase Manhattan Bank
Beginning Balance             341,826,672.24
Rate                                 0.5000%
Servicing Fee                     142,427.78

    XI. Single Certificate Principal Distribution
<TABLE>
<CAPTION>

              TRANCH      Orig. Balance   Sched. Principal  Certificate Value    Pr.Dist / Cert.
              <S>         <C>             <C>               <C>                  <C>                 

                 A-1     357,735,172.00       2,349,746.51           1,000.00     $ 6.5683966630
                 A-2      40,000,000.00         262,735.87           1,000.00     $ 6.5683967500
               TOTAL     397,735,172.00       2,612,482.38

                  SI       8,117,044.57               0.00           1,000.00     $ 0.0000000000
               TOTAL       8,117,044.57               0.00

   XII. Single Certificate Interest Distribution

              TRANCH      Orig. Balance    Sched. Interest  Certificate Value   Int.Dist / Cert.

              <S>         <C>             <C>               <C>                  <C>                 
                A-1     357,735,172.00       1,380,357.06           1,000.00     $ 3.8586003503
                 A-2      40,000,000.00         153,701.53           1,000.00     $ 3.8425382500
               TOTAL     397,735,172.00       1,534,058.59

                  SI       8,117,044.57          60,012.93           1,000.00     $ 7.3934459128
               TOTAL       8,117,044.57          60,012.93
</TABLE>

  XIII. Insured Payment

               GROUP             Amount
  MORTGAGE GROUP ONE               0.00

   XIV. Transfer Deposit Amount

               GROUP             Amount
  MORTGAGE GROUP ONE               0.00


<PAGE>


                       MONTHLY CERTIFICATE HOLDERS REPORT
                       ----------------------------------

Due Period :  13Beginning Date     :  09/01/1996  End Date         : 09/30/1996
                Determination Date :  10/09/1996  Remittance Date  : 10/15/1996


    XV. Delinquency Information for Due Period
              PERIOD Number of   Principal Balance
             30 DAYS        125       4,449,681.84
             60 DAYS         16         579,882.10
             90 DAYS         11         511,708.62
           120+ DAYS         18         603,456.09
               TOTAL        170       6,144,728.65

           FORECLOSR          0               0.00
               TOTAL          0               0.00

                 REO          0               0.00
               TOTAL          0               0.00

   XVI. Book Value REO Property

               GROUP              Value
  MORTGAGE GROUP ONE               0.00

  XVII. Servicer Advance

SERVICER             The Chase Manhattan Bank
Required Advances                             0.00
Nonrecoverable Advances                       0.00