Exhibit 20.1
                                                              

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

Due Period :  16Beginning Date     :  12/01/1996  End Date         : 12/31/1996
                Determination Date :  01/10/1997  Remittance Date  : 01/15/1997


                   CHASE HOME EQUITY LOAN TRUST, Series 1995-1

     I. Floating Allocation Percentage

Beginning %   97.554814715687%
Ending %      97.524784159015%

    II. Cash Received

SERVICER         The Chase Manhattan Bank
Interest Collected                2,661,498.25
Principal Collected              11,640,575.60
Additional Draw                   7,613,411.77

   III. Pool Balance

Beginning Balance      331,931,899.07     331,931,899.07
Principal Payments      13,348,957.45      13,348,957.45
Prin Pay Rev             1,708,381.85       1,708,381.85
Advances                 8,443,571.01       8,443,571.01
Advance Rev                830,159.24         830,159.24
Liquidation Loss                 0.00               0.00
Ending Balance         327,904,735.24     327,904,735.24

    IV. Interest to Certificateholders

<TABLE>
<CAPTION>

              TRANCH       Beg. Balance     Rate          Schduled Int        Int Shrtfall   Disbrsed Int
             <S>       <C>               <C>           <C>                  <C>             <C>    
                 A-1     289,424,424.17   5.84547000%   $ 1,409,851.49         $ 0.00       $ 1,409,851.49
                 A-2      32,361,863.95   5.93000000%     $ 159,921.54         $ 0.00         $ 159,921.54
               TOTAL     321,786,288.12                 $ 1,569,773.03         $ 0.00       $ 1,569,773.03

                  SI       8,116,349.95   0.00000000%      $ 61,696.75         $ 0.00          $ 61,696.75
               TOTAL       8,116,349.95                    $ 61,696.75         $ 0.00          $ 61,696.75

     V. Principal to Certificateholders

              TRANCH       Beg. Balance   Schduled Principal    Recovered Loss   Ending Principal      Cert. Factor 
              <S>       <C>              <C>                    <C>             <C>                   <C>
              
                 A-1     289,424,424.17       3,622,154.25               0.00     285,802,269.92          0.7989214
                 A-2      32,361,863.95         405,009.58               0.00      31,956,854.37          0.7989214
               TOTAL     321,786,288.12       4,027,163.83               0.00     317,759,124.29

                  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     319,788,385.29

<PAGE>

  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             331,931,899.07
Rate                                 0.5000%
Servicing Fee                     138,304.96

    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       3,622,154.25           1,000.00    $ 10.1252393768
                 A-2      40,000,000.00         405,009.58           1,000.00    $ 10.1252395000
               TOTAL     397,735,172.00       4,027,163.83

                  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       1,409,851.49           1,000.00     $ 3.9410480164
                 A-2      40,000,000.00         159,921.54           1,000.00     $ 3.9980385000
               TOTAL     397,735,172.00       1,569,773.03

                  SI       8,117,044.57          61,696.75           1,000.00     $ 7.6008884105
               TOTAL       8,117,044.57          61,696.75
</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        147       4,883,797.34
             60 DAYS         18         662,887.24
             90 DAYS          4         182,372.35
           120+ DAYS         20         624,264.12
               TOTAL        189       6,353,321.05

           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