<PAGE> 
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
                                                                                 CHASE MORTGAGE FINANCE CORPORATION
                                                                   MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S1
                                                                                   STATEMENT TO CERTIFICATEHOLDERS
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------

DISTRIBUTION DATE:   27-Jul-98                                                                                              PAGE # 1
RECORD DATE:         30-Jun-98



------------------------------------------------------------------------------------------------------------------------------------
         ORIGINAL        BEGINNING                                                                         COMPENSATING      ENDING
       CERTIFICATE      CERTIFICATE      PRINCIPAL       INTEREST         TOTAL          REALIZED LOSS      INTEREST     CERTIFICATE
CLASS    BALANCE          BALANCE       DISTRIBUTION   DISTRIBUTION    DISTRIBUTION   PRINCIPAL  INTEREST  SHORTFALLS      BALANCE
------------------------------------------------------------------------------------------------------------------------------------
<S>   <C>               <C>            <C>             <C>          <C>                <C>         <C>     <C>       <C>           
 A-1   156,000,000.00   154,212,313.41  1,087,270.62    867,444.26   1,954,714.88       0.00        0.00     0.00     153,125,042.79
 A-2   100,000,000.00    99,025,151.69    592,902.55    557,016.48   1,149,919.03       0.00        0.00     0.00      98,432,249.14
 A-3    50,000,000.00    49,535,786.98    282,334.26    278,638.80     560,973.06       0.00        0.00     0.00      49,253,452.72
 A-4    22,100,000.00    22,100,000.00          0.00    124,312.50     124,312.50       0.00        0.00     0.00      22,100,000.00
 A-5    14,058,975.00    14,058,975.00          0.00     75,640.21      75,640.21       0.00        0.00     0.00      14,058,975.00
 A-6     4,686,325.00     4,686,325.00          0.00     29,802.10      29,802.10       0.00        0.00     0.00       4,686,325.00
 A-7    40,500,000.00    40,500,000.00          0.00    227,812.50     227,812.50       0.00        0.00     0.00      40,500,000.00
 A-P       451,538.00       451,060.59        483.14          0.00         483.14       0.00        0.00     0.00         450,577.45
 A-R           100.86             0.00          0.00          0.00           0.00       0.00        0.00     0.00               0.00
  M      8,707,712.00     8,701,011.53      6,768.95     48,943.19      55,712.14       0.00        0.00     0.00       8,694,242.58
 B-1     3,442,584.00     3,439,934.96      2,676.11     19,349.63      22,025.74       0.00        0.00     0.00       3,437,258.85
 B-2     1,822,544.00     1,821,141.60      1,416.73     10,243.92      11,660.65       0.00        0.00     0.00       1,819,724.87
 B-3     1,417,534.00     1,416,443.26      1,101.89      7,967.49       9,069.38       0.00        0.00     0.00       1,415,341.37
 B-4       810,019.00       809,395.68        629.69      4,552.85       5,182.54       0.00        0.00     0.00         808,765.99
 B-5     1,012,573.33     1,011,794.12        787.18      5,691.34       6,478.52       0.00        0.00     0.00       1,011,006.94
------------------------------------------------------------------------------------------------------------------------------------
TOTAL  405,009,905.19   401,769,333.82  1,976,371.12  2,257,415.27   4,233,786.39       0.00        0.00     0.00     399,792,962.70
------------------------------------------------------------------------------------------------------------------------------------



--------------------------------------------------------------------------------------------------------------------
                   ORIGINAL              BEGINNING                                                          ENDING
                   NOTIONAL               NOTIONAL              INTEREST               TOTAL               NOTIONAL
   CLASS           BALANCE                BALANCE             DISTRIBUTION         DISTRIBUTION            BALANCE
--------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------
   <S>          <C>                    <C>                   <C>                   <C>              <C>           
    A-X          377,526,002.16         374,313,591.30        150,454.62            150,454.62       372,365,449.36
--------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------

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


            FACTOR INFORMATION PER $1,000                                                                  PASS THRU RATES


                  PRINCIPAL               INTEREST             END. CERT.                                          PASS-THRU
   CLASS         DISTRIBUTION           DISTRIBUTION            BALANCE                                CLASS         RATE

-------------------------------------------------------------------------------                       ------------------------------
   <S>             <C>                  <C>               <C>                                            <C>        <C>        
    A-1             6.96968346             5.56054013         981.57078712                              A-1          6.75000000%
    A-2             5.92902550             5.57016480         984.32249140                              A-2          6.75000000%
    A-3             5.64668520             5.57277600         985.06905440                              A-3          6.75000000%
    A-4             0.00000000             5.62500000        1000.00000000                              A-4          6.75000000%
    A-5             0.00000000             5.38020802        1000.00000000                              A-5          6.45625000%
    A-6             0.00000000             6.35937542        1000.00000000                              A-6          7.63125000%
    A-7             0.00000000             5.62500000        1000.00000000                              A-7          6.75000000%
    A-P             1.06998747           N/A                  997.87271503                              A-P             N/A
    A-R             0.00000000             0.00000000           0.00000000                              A-R          6.75000000%
    A-X           N/A                      0.39852783         986.33060300                              A-X          0.48233789%
     M              0.77735116             5.62067165         998.45316198                               M           6.75000000%
    B-1             0.77735503             5.62067040         998.45315321                              B-1          6.75000000%
    B-2             0.77733651             5.62067089         998.45318961                              B-2          6.75000000%
    B-3             0.77732880             5.62066942         998.45320818                              B-3          6.75000000%
    B-4             0.77737683             5.62067063         998.45311036                              B-4          6.75000000%
    B-5             0.77740543             5.62066947         998.45306018                              B-5          6.75000000%
------------------------------------------------------------------------------                        ------------------------------
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
                                                                          CHASE MORTGAGE FINANCE CORPORATION
                                                            MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S1
                                                                           STATEMENT TO CERTIFICATEHOLDERS
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------


DISTRIBUTION DATE:   27-Jul-98                                                                                             PAGE # 2
RECORD DATE:         30-Jun-98




<S>                            <C>                                                                                  <C>         
SECTION 6.02 (iii)              AGGREGATE PRINCIPAL PREPAYMENT AMOUNT                                                   1,663,761.12
                                AGGREGATE REPURCHASE PROCEEDS AMOUNT                                                            0.00


SECTION 6.02 (iv)               AGGREGATE SERVICER ADVANCES                                                               108,242.78


SECTION 6.02 (iv)               NUMBER OF OUTSTANDING MORTGAGE LOANS                                                        1,404
                                ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL                                 399,792,962.70


SECTION 6.02 (vi)               SERVICING FEES                                                                            104,125.31


SECTION 6.02 (vii)              NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:

                                -------------------------------------------------------------------------------------
                                       CATEGORY                COUNT                    AGG. PRIN. BAL.
                                -------------------------------------------------------------------------------------
                                        1 MONTH                 24                                         7,749,638.31
                                       2 MONTHS                  0                                                 0.00
                                       3+ MONTHS                 0                                                 0.00
                                      FORECLOSURE                0                                                 0.00
                                -------------------------------------------------------------------------------------


SECTION 6.02 (viii)             MORTGAGE LOANS ACQUIRED THROUGH FORECLOSURE

                                                        -------------------------------------------------------------
                                                               COUNT                    AGG. PRIN. BAL.
                                                        -------------------------------------------------------------
                                                                 0                                                 0.00
                                                        -------------------------------------------------------------


SECTION 6.02 (ix)               AGGREGATE AMOUNT OF ALL ADVANCES RECOVERED DURING THE RELATED                                   0.00
                                DUE PERIOD


                                -------------------------------------------------------------------------------------
SECTION 6.02 (x)                         CLASS              PERCENTAGE                 PRINCIPAL BALANCE
                                ------------------------                    -----------------------------------------
                                -------------------------------------------------------------------------------------
                                        CLASS A               95.72%                                     384,569,612.67
                                        CLASS M                2.17%                                       8,701,011.53
                                        CLASS B                2.12%                                       8,498,709.62
                                -------------------------------------------------------------------------------------

                                NON-PO CLASS A PERCENTAGE                                                                     95.71%
                                NON-PO CLASS A PREPAYMENT PERCENTAGE                                                         100.00%

                                CREDIT SUPPORT LEVEL

                                                        -------------------------------------------------------------
                                                               CLASS                     CREDIT SUPPORT
                                                        -------------------------------------------------------------
                                                                            -----------------------------------------
                                                                 M                           2.12%
                                                                B-1                          1.26%
                                                                B-2                          0.81%
                                                                B-3                          0.45%
                                                                B-4                          0.25%
                                                        -------------------------------------------------------------



SECTION 6.02 (xi)               CURRENT AGGREGATE AMOUNT OF REALIZED LOSSES                                                     0.00
                                CUMULATIVE AGGREGATE AMOUNT REALIZED LOSSES                                                     0.00

<PAGE>

------------------------------------------------------------------------------------------------------------------------------------
                                                                                CHASE MORTGAGE FINANCE CORPORATION
                                                                  MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S2
                                                                                 STATEMENT TO CERTIFICATEHOLDERS
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE:  27-Jul-98                                                                                               PAGE # 1
RECORD DATE:        30-Jun-98

------------------------------------------------------------------------------------------------------------------------------------
             ORIGINAL        BEGINNING                                                                       COMPENSATING     ENDING
            CERTIFICATE      CERTIFICATE     PRINCIPAL        INTEREST        TOTAL        REALIZED LOSS     INTEREST    CERTIFICATE
 CLASS       BALANCE          BALANCE      DISTRIBUTION    DISTRIBUTION  DISTRIBUTION   PRINCIPAL INTEREST  SHORTFALLS       BALANCE
------------------------------------------------------------------------------------------------------------------------------------
<S>     <C>             <C>             <C>              <C>           <C>              <C>       <C>       <C>       <C>           
  A-1    70,900,000.00    70,900,000.00          0.00     384,041.67      384,041.67       0.00      0.00      0.00    70,900,000.00
  A-2    42,347,000.00    42,347,000.00          0.00     229,379.58      229,379.58       0.00      0.00      0.00    42,347,000.00
  A-3    59,497,000.00    59,497,000.00          0.00     327,233.50      327,233.50       0.00      0.00      0.00    59,497,000.00
  A-5    46,300,000.00    46,300,000.00    209,418.93     270,083.33      479,502.26       0.00      0.00      0.00    46,090,581.07
A-6 CP1  13,800,000.00    13,800,000.00     62,418.61      80,500.00      142,918.61       0.00      0.00      0.00    13,737,581.39
A-6 CP2  21,900,000.00    21,900,000.00    110,022.89     127,750.00      237,772.89       0.00      0.00      0.00    21,789,977.11
  A-7     7,000,000.00     7,000,000.00    624,982.71           0.00      624,982.71       0.00      0.00      0.00     6,415,850.62
  A-8       500,000.00       500,000.00          0.00           0.00            0.00       0.00      0.00      0.00       502,916.67
  A-9   127,600,000.00   127,600,000.00    527,889.41     744,333.33    1,272,222.74       0.00      0.00      0.00   127,072,110.59
 A-10    15,600,000.00    15,600,000.00  1,246,503.81           0.00    1,246,503.81       0.00      0.00      0.00    14,444,496.19
 A-11     7,599,000.00     7,599,000.00          0.00           0.00            0.00       0.00      0.00      0.00     7,643,327.50
 A-12       985,000.00       985,000.00          0.00           0.00            0.00       0.00      0.00      0.00       990,745.83
 A-13     8,937,320.00     8,937,320.00     96,165.30         N/A          96,165.30       0.00      0.00      0.00     8,841,154.70
 A-14    84,278,300.00    84,278,300.00          0.00     474,065.44      474,065.44       0.00      0.00      0.00    84,278,300.00
  A-P       237,974.00       237,974.00        207.90         N/A             207.90       0.00      0.00      0.00       237,766.10
  A-R           100.95           100.95        100.95           0.57          101.52       0.00      0.00      0.00             0.00
   M     11,396,000.00    11,396,000.00      8,629.42      64,102.50       72,731.92       0.00      0.00      0.00    11,387,370.58
  B-1     4,505,000.00     4,505,000.00      3,411.33      25,340.63       28,751.96       0.00      0.00      0.00     4,501,588.67
  B-2     2,385,000.00     2,385,000.00      1,806.00      13,415.63       15,221.63       0.00      0.00      0.00     2,383,194.00
  B-3     1,855,000.00     1,855,000.00      1,404.67      10,434.38       11,839.05       0.00      0.00      0.00     1,853,595.33
  B-4     1,061,000.00     1,061,000.00        803.42       5,968.13        6,771.55       0.00      0.00      0.00     1,060,196.58
  B-5     1,325,030.44     1,325,030.44      1,003.36       7,453.30        8,456.66       0.00      0.00      0.00     1,324,027.08
------------------------------------------------------------------------------------------------------------------------------------
 TOTAL  530,008,725.39   530,008,725.39  2,894,768.71   2,764,101.99    5,658,870.70       0.00      0.00      0.00   527,298,780.01
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------
                   ORIGINAL              BEGINNING                                                       ENDING
                   NOTIONAL               NOTIONAL              INTEREST             TOTAL              NOTIONAL
   CLASS           BALANCE                BALANCE             DISTRIBUTION        DISTRIBUTION           BALANCE
------------------------------------------------------------------------------------------------------------------------
   <S>       <C>                    <C>                    <C>                 <C>                <C>                
    A-4         5,516,488.89           5,516,488.89            31,030.25          31,030.25          5,516,488.89
    A-X       511,626,605.16         511,626,605.16           202,442.19         202,442.19        508,932,808.89
------------------------------------------------------------------------------------------------------------------------

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

            FACTOR INFORMATION PER $1,000                                                            PASS THRU RATES

                  PRINCIPAL               INTEREST             END. CERT.                                       PASS-THRU
   CLASS         DISTRIBUTION           DISTRIBUTION            BALANCE                           CLASS            RATE

-------------------------------------------------------------------------------                   ---------------------------------
<S>          <C>                    <C>               <C>                                       <C>          <C>        
A-1              0.00000000             5.41666671        1000.00000000                           A-1            6.50000000%
A-2              0.00000000             5.41666659        1000.00000000                           A-2            6.50000000%
A-3              0.00000000             5.50000000        1000.00000000                           A-3            6.60000000%
A-4            N/A                      5.62500000        1000.00000000                           A-4            6.75000000%
A-5              4.52308704             5.83333326         995.47691296                           A-5            7.00000000%
A-6 CP1          4.52308768             5.83333333         995.47691232                           A-6 CP1        7.00000000%
A-6 CP2          5.02387626             5.83333333         994.97612374                           A-6 CP2        7.00000000%
A-7             89.28324429             0.00000000         916.55008857                           A-7            7.00000000%
A-8              0.00000000             0.00000000        1005.83334000                           A-8            7.00000000%
A-9              4.13706434             5.83333331         995.86293566                           A-9            7.00000000%
A-10            79.90409038             0.00000000         925.92924295                           A-10           7.00000000%
A-11             0.00000000             0.00000000        1005.83333333                           A-11           7.00000000%
A-12             0.00000000             0.00000000        1005.83332995                           A-12           7.00000000%
A-13            10.75997055           N/A                  989.24002945                           A-13           N/A
A-14             0.00000000             5.62500003        1000.00000000                           A-14           6.75000000%
A-P              0.87362485           N/A                  999.12637515                           A-P            N/A
A-R           1000.00000000             5.64635958           0.00000000                           A-R            6.75000000%
A-X            N/A                      0.39568347         994.73483935                           A-X            0.47481000%
M                0.75723236             5.62500000         999.24276764                           M              6.75000000%
B-1              0.75723196             5.62500111         999.24276804                           B-1            6.75000000%
B-2              0.75723270             5.62500210         999.24276730                           B-2            6.75000000%
B-3              0.75723450             5.62500270         999.24276550                           B-3            6.75000000%
B-4              0.75722903             5.62500471         999.24277097                           B-4            6.75000000%
B-5              0.75723543             5.62500285         999.24276457                           B-5            6.75000000%
-------------------------------------------------------------------------------               ---------------------------------
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
                                                                          CHASE MORTGAGE FINANCE CORPORATION
                                                            MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S2
                                                                           STATEMENT TO CERTIFICATEHOLDERS
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------


DISTRIBUTION DATE:  27-Jul-98                                                                                             PAGE # 2
RECORD DATE:        30-Jun-98




<S>                            <C>                                                                                    <C>         
 SECTION 6.02 (iii)              AGGREGATE PRINCIPAL PREPAYMENT AMOUNT                                                  2,308,584.50
                                 AGGREGATE REPURCHASE PROCEEDS AMOUNT                                                           0.00


 SECTION 6.02 (iv)               AGGREGATE SERVICER ADVANCES                                                                    0.00


 SECTION 6.02 (iv)               NUMBER OF OUTSTANDING MORTGAGE LOANS                                                       1,762
                                 ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL                                527,298,780.01


 SECTION 6.02 (vi)               SERVICING FEES                                                                           136,256.61


 SECTION 6.02 (vii)              NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:

                                 -------------------------------------------------------------------------------------
                                        CATEGORY                COUNT                    AGG. PRIN. BAL.
                                 -------------------------------------------------------------------------------------
                                         1 MONTH                  0                          0.00
                                        2 MONTHS                  0                          0.00
                                        3+ MONTHS                 0                          0.00
                                       FORECLOSURE                0                          0.00
                                 -------------------------------------------------------------------------------------


 SECTION 6.02 (viii)             MORTGAGE LOANS ACQUIRED THROUGH FORECLOSURE

                                                         -------------------------------------------------------------
                                                                COUNT                    AGG. PRIN. BAL.
                                                         -------------------------------------------------------------
                                                                  0                           0.00
                                                         -------------------------------------------------------------


 SECTION 6.02 (ix)               AGGREGATE AMOUNT OF ALL ADVANCES RECOVERED DURING THE RELATED                                  0.00
                                 DUE PERIOD


                                 -------------------------------------------------------------------------------------
 SECTION 6.02 (x)                         CLASS              PERCENTAGE                 PRINCIPAL BALANCE
                                 ------------------------                    -----------------------------------------
                                 -------------------------------------------------------------------------------------
                                         CLASS A               95.75%                      507,481,694.95
                                         CLASS M                2.15%                       11,396,000.00
                                         CLASS B                2.10%                       11,131,030.44
                                 -------------------------------------------------------------------------------------

                                 NON-PO CLASS A PERCENTAGE                                                                 95.74778%
                                 NON-PO CLASS A PREPAYMENT PERCENTAGE                                                     100.00000%

                                 CREDIT SUPPORT LEVEL

                                                         -------------------------------------------------------------
                                                                CLASS                     CREDIT SUPPORT
                                                         -------------------------------------------------------------
                                                                             -----------------------------------------
                                                                  M                           2.10%
                                                                 B-1                          1.25%
                                                                 B-2                          0.80%
                                                                 B-3                          0.45%
                                                                 B-4                          0.25%
                                                         -------------------------------------------------------------



 SECTION 6.02 (xi)               CURRENT AGGREGATE AMOUNT OF REALIZED LOSSES                                                    0.00
                                 CUMULATIVE AGGREGATE AMOUNT REALIZED LOSSES                                                    0.00

<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
                                                                                 CHASE MORTGAGE FINANCE CORPORATION
                                                                   MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S3
                                                                                   STATEMENT TO CERTIFICATEHOLDERS
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------


DISTRIBUTION DATE:  27-Jul-98                                                                                               PAGE # 1
RECORD DATE:        30-Jun-98



------------------------------------------------------------------------------------------------------------------------------------
            ORIGINAL        BEGINNING                                                                     COMPENSATING    ENDING
          CERTIFICATE      CERTIFICATE    PRINCIPAL     INTEREST        TOTAL           REALIZED LOSS       INTEREST    CERTIFICATE
CLASS       BALANCE          BALANCE     DISTRIBUTION  DISTRIBUTION   DISTRIBUTION  PRINCIPAL    INTEREST  SHORTFALLS     BALANCE
------------------------------------------------------------------------------------------------------------------------------------
<S>    <C>              <C>              <C>           <C>           <C>              <C>        <C>         <C>      <C>          
 A-1    61,642,000.00    61,642,000.00    682,319.93    333,894.17    1,016,214.10     0.00       0.00        0.00     60,959,680.07
 A-2     7,000,000.00     7,000,000.00          0.00     37,916.67       37,916.67     0.00       0.00        0.00      7,000,000.00
 A-3    94,261,000.00    94,261,000.00    936,979.67    510,580.42    1,447,560.09     0.00       0.00        0.00     93,324,020.33
 A-4    11,300,000.00    11,300,000.00          0.00     61,208.33       61,208.33     0.00       0.00        0.00     11,300,000.00
 A-5    44,896,000.00    44,896,000.00    145,677.53    243,186.67      388,864.20     0.00       0.00        0.00     44,750,322.47
 A-P       551,754.00       551,754.00      1,836.79        N/A           1,836.79     0.00       0.00        0.00        549,917.21
 A-R           100.36           100.36        100.36          0.54          100.90     0.00       0.00        0.00              0.00
  M      2,475,575.00     2,475,575.00      8,032.69     13,409.36       21,442.05     0.00       0.00        0.00      2,467,542.31
 B-1       787,683.00       787,683.00      2,555.85      4,266.62        6,822.47     0.00       0.00        0.00        785,127.15
 B-2       675,156.00       675,156.00      2,190.73      3,657.10        5,847.83     0.00       0.00        0.00        672,965.27
 B-3       675,156.00       675,156.00      2,190.73      3,657.10        5,847.83     0.00       0.00        0.00        672,965.27
 B-4       337,578.00       337,578.00      1,095.36      1,828.55        2,923.91     0.00       0.00        0.00        336,482.64
 B-5       450,295.59       450,295.59      1,461.11      2,439.10        3,900.21     0.00       0.00        0.00        448,834.48
------------------------------------------------------------------------------------------------------------------------------------
TOTAL  225,052,297.95   225,052,297.95  1,784,440.75  1,216,044.63    3,000,485.38     0.00      0.00         0.00    223,267,857.20
------------------------------------------------------------------------------------------------------------------------------------



--------------------------------------------------------------------------------------------------------------------------
                   ORIGINAL              BEGINNING                                                          ENDING
                   NOTIONAL               NOTIONAL              INTEREST               TOTAL               NOTIONAL
   CLASS           BALANCE                BALANCE             DISTRIBUTION         DISTRIBUTION            BALANCE
--------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------
   <S>       <C>                    <C>                       <C>                   <C>               <C>           
    A-X       198,278,988.72         198,278,988.72            63,594.44             63,594.44         196,585,464.14
--------------------------------------------------------------------------------------------------------------------------





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


            FACTOR INFORMATION PER $1,000                                                                         PASS THRU RATES


                  PRINCIPAL               INTEREST             END. CERT.                                               PASS-THRU
   CLASS         DISTRIBUTION           DISTRIBUTION            BALANCE                                  CLASS             RATE

-------------------------------------------------------------------------------                   ----------------------------------
   <S>           <C>                    <C>               <C>                                       <C>                <C>
    A-1            11.06907514             5.41666672         988.93092486                            A-1                6.50000000%
    A-2             0.00000000             5.41666714        1000.00000000                            A-2                6.50000000%
    A-3             9.94026872             5.41666670         990.05973128                            A-3                6.50000000%
    A-4             0.00000000             5.41666637        1000.00000000                            A-4                6.50000000%
    A-5             3.24477749             5.41666674         996.75522251                            A-5                6.50000000%
    A-P             3.32900169           N/A                  996.67099831                            A-P              N/A
    A-R          1000.00000000             5.38062973           0.00000000                            A-R                6.50000000%
    A-X           N/A                      0.32073212         991.45888028                            A-X                0.38488000%
     M              3.24477748             5.41666482         996.75522252                             M                 6.50000000%
    B-1             3.24476979             5.41667143         996.75523021                            B-1                6.50000000%
    B-2             3.24477602             5.41667407         996.75522398                            B-2                6.50000000%
    B-3             3.24477602             5.41667407         996.75522398                            B-3                6.50000000%
    B-4             3.24476121             5.41667407         996.75523879                            B-4                6.50000000%
    B-5             3.24477972             5.41666420         996.75522028                            B-5                6.50000000%
------------------------------------------------------------------------------                    ----------------------------------
<PAGE>


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DISTRIBUTION DATE:   27-Jul-98                                                                                              PAGE # 2
RECORD DATE:         30-Jun-98




SECTION 6.02 (iii)                AGGREGATE PRINCIPAL PREPAYMENT AMOUNT                                                 1,054,132.11
                                  AGGREGATE REPURCHASE PROCEEDS AMOUNT                                                          0.00


SECTION 6.02 (iv)                 AGGREGATE SERVICER ADVANCES                                                                   0.00


SECTION 6.02 (v)                  NUMBER OF OUTSTANDING MORTGAGE LOANS                                                        783
                                  ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL                               223,267,857.20


SECTION 6.02 (vi)                 SERVICING FEES                                                                           59,451.19


SECTION 6.02 (vii)                NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:

                                  ------------------------------------------------------------------------------------
                                         CATEGORY               COUNT                     AGG. PRIN. BAL.
                                  ------------------------------------------------------------------------------------
                                         1 MONTH                  0                                0.00
                                         2 MONTHS                 0                                0.00
                                        3+ MONTHS                 0                                0.00
                                       FORECLOSURE                0                                0.00
                                  ------------------------------------------------------------------------------------


SECTION 6.02 (viii)               MORTGAGE LOANS ACQUIRED THROUGH FORECLOSURE

                                                         -------------------------------------------------------------
                                                                COUNT                     AGG. PRIN. BAL.
                                                         -------------------------------------------------------------
                                                                  0                                0.00
                                                         -------------------------------------------------------------


SECTION 6.02 (ix)                 AGGREGATE AMOUNT OF ALL ADVANCES RECOVERED DURING THE RELATED                                 0.00
                                  DUE PERIOD


                                  ------------------------------------------------------------------------------------
SECTION 6.02 (x)                          CLASS               PERCENTAGE                 PRINCIPAL BALANCE
                                  -----------------------                     ----------------------------------------
                                  ------------------------------------------------------------------------------------
                                         CLASS A                97.60%                         219,650,854.36
                                         CLASS M                1.10%                            2,475,575.00
                                         CLASS B                1.30%                            2,925,868.59
                                  ------------------------------------------------------------------------------------

                                  NON-PO CLASS A PERCENTAGE                                                                   97.59%
                                  NON-PO CLASS A PREPAYMENT PERCENTAGE                                                       100.00%

                                  CREDIT SUPPORT LEVEL

                                                         -------------------------------------------------------------
                                                                CLASS                     CREDIT SUPPORT
                                                         -------------------------------------------------------------              
                                                                  M                            1.30%
                                                                 B-1                           0.95%
                                                                 B-2                           0.65%
                                                                 B-3                           0.35%
                                                                 B-4                           0.20%
                                                         -------------------------------------------------------------



SECTION 6.02 (xi)                 CURRENT AGGREGATE AMOUNT OF REALIZED LOSSES                                                   0.00
                                  CUMULATIVE AGGREGATE AMOUNT REALIZED LOSSES                                                   0.00




</TABLE>