UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 12b-25

                           NOTIFICATION OF LATE FILING


(Check One): [X] Form 10-K [_] Form 20-F [_] Form 11-K
                    [_] Form 10-Q [_] Form N-SAR

     For Period Ended: December 31, 1996
                      --------------------------------

     [_] Transition  Report on Form 10-K [_] Transition  Report on Form 20-F [_]
     Transition  Report  on Form  11-K [_]  Transition  Report  on Form 10-Q [_]
     Transition Report on Form N-SAR

     For the Transition Period Ended:
                                     -----------------------------------------

================================================================================

Read Instruction (on back page) Before Preparing Form. Please Print or Type.

NOTHING  IN THIS  FORM  SHALL BE  CONSTRUED  TO IMPLY  THAT THE  COMMISSION  HAS
VERIFIED ANY INFORMATION CONTAINED HEREIN.

================================================================================

If the notification  relates to a portion of the filing checked above,  identify
the Item(s) to which the notification relates:

--------------------------------------------------------------------------------
PART I--REGISTRANT INFORMATION
--------------------------------------------------------------------------------
Full Name of Registrant

Chase Commercial Mortgage Securities Corp.
--------------------------------------------------------------------------------
Former Name if Applicable

N/A
--------------------------------------------------------------------------------
Address of Principal Executive Office (Street and Number)

380 Madison Avenue
--------------------------------------------------------------------------------
City, State and Zip Code

New York, New York 10017-2951
--------------------------------------------------------------------------------

PART II--RULES 12b-25(b) AND (c)

If the subject report could not be filed without  unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)


     (a)  The reasons described in reasonable detail in Part III of this form
[X]       could not be eliminated without unreasonable effort or expense;
     (b)  The subject annual report,  semi-annual  report,  transition report on
          Form 10-K, Form 20-F, 11-K, Form N-SAR, or portion thereof, will be
[X]       filed on or before the fifteenth calendar day following the prescribed
          due date; or the subject quarterly report or transition report on Form
          10-Q, or portion thereof will be filed on or before the fifth calendar
          day following the prescribed due date; and
     (c)  The accountant's statement or other exhibit required by Rule 12b-25(c)
          has been attached if applicable.

<PAGE>




PART III--NARRATIVE

State below in reasonable detail the reasons why the Form 10-K, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period. (ATTACH EXTRA SHEETS IF NEEDED).

One of the required  signatories to the Form 10-K was unexpectedly  called
away and was therefore  unable to sign it on March 31st. The signed Form 10-K is
being submitted simultaneously with this filing.


PART IV--OTHER INFORMATION

(1)  Name and telephone number of person to contact in regard to this
     notification


      Martin R. Joyce, Esq.        (212)               270-5918
     -------------------------   -------------   -------------------------
              (Name)              (Area Code)       (Telephone Number)

(2)  Have all other periodic  reports  required under Section 13 of 15(d) of the
     Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
     of 1940 during the  preceding 12 months (or for such  shorter)  period that
     the registrant was required to file such reports) been filed? If the answer
     is no, identify report(s). [X] Yes [_] No


     ---------------------------------------------------------------------------

(3)  Is it anticipated that any significant change in results of operations from
     the corresponding  period for the last fiscal year will be reflected by the
     earnings  statements  to be  included  in the  subject  report  or  portion
     thereof? [_] Yes [X] No

     If so, attach an explanation of the anticipated  change,  both  narratively
     and quantitatively, and, if appropriate, state the reasons why a reasonable
     estimate of the results cannot be made.

--------------------------------------------------------------------------------

                   Chase Commercial Mortgage Securities Corp.
              --------------------------------------------------
                 (Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.

Date    April 1, 1997                      By: /s/ Andrea S. Balkan
    ---------------------------------       ------------------------------------


INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly  authorized  representative.  The name and title of the person
signing  the form  shall  be typed or  printed  beneath  the  signature.  If the
statement is signed on behalf of the registrant by an authorized  representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.