Exhibit 20.1
                                                               ------------     

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

Due Period :  22Beginning Date     :  06/01/1997  End Date         : 06/30/1997
                Determination Date :  07/10/1997  Remittance Date  : 07/15/1997


                       CHASE HOME EQUITY LOAN TRUST, Series 1995-1

     I. Floating Allocation Percentage

Beginning %   97.368185728267%
Ending %      97.326801796322%

    II. Cash Received

SERVICER        The Chase Manhattan Bank
Interest Collected                2,493,714.14
Principal Collected              11,771,899.05
Additional Draw                   6,999,425.26

   III. Pool Balance

Beginning Balance      308,287,356.26     308,287,356.26
Principal Payments      13,681,589.95      13,681,589.95
Prin Pay Rev             1,909,690.90       1,909,690.90
Advances                 8,337,903.87       8,337,903.87
Advance Rev              1,338,478.61       1,338,478.61
Liquidation Loss             9,060.91           9,060.91
Ending Balance         303,505,821.56     303,505,821.56

    IV. Interest to Certificateholders
<TABLE>
<CAPTION>

              TRANCH       Beg. Balance          Rate       Schduled Int    Int Shrtfall   Disbrsed Int
            <S>        <C>                 <C>             <C>             <C>           <C>                         
                 A-1     268,160,317.36        5.92750000%  $ 1,280,446.89       $ 0.00     $ 1,280,446.89
                 A-2      29,984,227.26        5.89000000%    $ 142,266.83       $ 0.00       $ 142,266.83
               TOTAL     298,144,544.62                     $ 1,422,713.72       $ 0.00     $ 1,422,713.72

                  SI       8,116,349.95        0.00000000%     $ 62,270.76       $ 0.00        $ 62,270.76
               TOTAL       8,116,349.95                        $ 62,270.76       $ 0.00        $ 62,270.76

     V. Principal to Certificateholders

              TRANCH       Beg. Balance    Schduled Principal     Recovered Loss   Ending Principal       Cert. Factor
              <S>      <C>               <C>                    <C>             <C>                   <C>                          
              
                A-1     268,160,317.36       4,300,443.99               0.00     263,859,873.37          0.7375844
                A-2      29,984,227.26         480,852.24               0.00      29,503,375.02          0.7375844
               TOTAL    298,144,544.62       4,781,296.23               0.00     293,363,248.39

                  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     295,392,509.39



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

Due Period :  22Beginning Date     :  06/01/1997  End Date         : 06/30/1997
                Determination Date :  07/10/1997  Remittance Date  : 07/15/1997


  VIII. Liquidation Loss

Liquidation Loss Amount           9,060.91
Loss Investor Cert.               8,822.44
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             308,287,356.26
Rate                                 0.5000%
Servicing Fee                     128,453.07

<TABLE>
<CAPTION>

    XI. Single Certificate Principal Distribution

              TRANCH      Orig. Balance   Sched. Principal   Certificate Value    Pr.Dist / Cert.
              <S>      <C>               <C>                 <C>               <C>                                     
                 A-1     357,735,172.00       4,300,443.99           1,000.00    $ 12.0213060571
                 A-2      40,000,000.00         480,852.24           1,000.00    $ 12.0213060000
               TOTAL     397,735,172.00       4,781,296.23

                  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       1,280,446.89           1,000.00     $ 3.5793150638
                 A-2      40,000,000.00         142,266.83           1,000.00     $ 3.5566707500
               TOTAL     397,735,172.00       1,422,713.72

                  SI       8,117,044.57          62,270.76           1,000.00     $ 7.6716050359
               TOTAL       8,117,044.57          62,270.76
</TABLE>

  XIII. Insured Payment

               GROUP             Amount
  MORTGAGE GROUP ONE               0.00

   XIV. Transfer Deposit Amount

               GROUP             Amount
  MORTGAGE GROUP ONE               0.00

    XV. Delinquency Information for Due Period

              PERIOD Number of   Principal Balance
             30 DAYS        127       4,466,234.96
             60 DAYS          8         216,168.69
             90 DAYS          3          87,633.49
           120+ DAYS         30       1,252,516.48
               TOTAL        168       6,022,553.62

           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