Exhibit 20.1
                                                              


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


Due Period :  15Beginning Date     : 11/01/1996  End Date         :  11/30/1996
                Determination Date : 12/11/1996  Remittance Date  :  12/16/1996


                       CHASE HOME EQUITY LOAN TRUST, Series 1995-1

     I. Floating Allocation Percentage

Beginning %   97.577545606777%
Ending %      97.554814715687%

    II. Cash Received

SERVICER       The Chase Manhattan Bank
Interest Collected                2,408,441.40
Principal Collected               9,752,335.77
Additional Draw                   6,637,681.53

   III. Pool Balance

Beginning Balance      335,046,553.31     335,046,553.31
Principal Payments      10,434,450.72      10,434,450.72
Prin Pay Rev               682,114.95         682,114.95
Advances                 6,737,570.26       6,737,570.26
Advance Rev                 99,888.73          99,888.73
Liquidation Loss                 0.00               0.00
Ending Balance         331,931,899.07     331,931,899.07

    IV. Interest to Certificateholders

<TABLE>
<CAPTION>
              TRANCH       Beg. Balance    Rate        Schduled Int      Int Shrtfall   Disbrsed Int
              <S>       <C>               <C>          <C>                <C>         <C>                           

                 A-1     292,225,839.40    5.61500000%  $ 1,412,952.52       $ 0.00   $ 1,412,952.52
                 A-2      32,675,102.96    5.68000000%    $ 159,817.56       $ 0.00     $ 159,817.56
               TOTAL     324,900,942.36                 $ 1,572,770.08       $ 0.00   $ 1,572,770.08

                  SI       8,116,349.95    0.00000000%     $ 54,961.58       $ 0.00      $ 54,961.58
               TOTAL       8,116,349.95                    $ 54,961.58       $ 0.00      $ 54,961.58

     V. Principal to Certificateholders

              TRANCH    Beg. Balance       Schduled Principal   Recovered Loss   Ending Principal     Cert. Factor
               <S>     <C>                 <C>                   <C>             <C>                   <C>      
                 A-1     292,225,839.40       2,801,415.23            0.00       289,424,424.17          0.8090466
                 A-2      32,675,102.96         313,239.01            0.00        32,361,863.95          0.8090466
               TOTAL     324,900,942.36       3,114,654.24            0.00       321,786,288.12

                  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     323,815,549.12



<PAGE>
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------

Due Period :  15Beginning Date     : 11/01/1996  End Date         :  11/30/1996
                Determination Date : 12/11/1996  Remittance Date  :  12/16/1996


  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             335,046,553.31
Rate                                 0.5000%
Servicing Fee                     139,602.73

    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       2,801,415.23           1,000.00     $ 7.8309751159
                 A-2      40,000,000.00         313,239.01           1,000.00     $ 7.8309752500
               TOTAL     397,735,172.00       3,114,654.24

                  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       1,412,952.52           1,000.00     $ 3.9497165238
                 A-2      40,000,000.00         159,817.56           1,000.00     $ 3.9954390000
               TOTAL     397,735,172.00       1,572,770.08

                  SI       8,117,044.57          54,961.58           1,000.00     $ 6.7711319713
               TOTAL       8,117,044.57          54,961.58
</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 :  15Beginning Date     : 11/01/1996  End Date         :  11/30/1996
                Determination Date : 12/11/1996  Remittance Date  :  12/16/1996


    XV. Delinquency Information for Due Period

              PERIOD Number of   Principal Balance
             30 DAYS        110       3,502,938.52
             60 DAYS          8         361,553.59
             90 DAYS          4          77,594.65
           120+ DAYS         17         562,358.57
               TOTAL        139       4,504,445.33

           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