<PAGE> 
<TABLE>

------------------------------------------------------------------------------------------------------------------------------------
                                                          CHASE MORTGAGE FINANCE CORPORATION
                                            MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S1
                                                           STATEMENT TO CERTIFICATEHOLDERS
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE:        28-Dec-98                                                                                       PAGE # 1
RECORD DATE:              30-Nov-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  145,018,349.02  2,597,932.19     815,728.21   3,413,660.40     0.00      0.00        0.00     142,420,416.83
 A-2  100,000,000.00   94,011,565.54  1,416,685.59     528,815.06   1,945,500.65     0.00      0.00        0.00      92,594,879.95
 A-3   50,000,000.00   47,148,367.49    674,611.48     265,209.57     939,821.05     0.00      0.00        0.00      46,473,756.01
 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      68,418.47      68,418.47     0.00      0.00        0.00      14,058,975.00
 A-6    4,686,325.00    4,686,325.00          0.00      37,023.84      37,023.84     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      448,493.84      3,418.00           0.00       3,418.00     0.00      0.00        0.00         445,075.84
 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    8,666,608.27      7,075.42      48,749.67      55,825.09     0.00      0.00        0.00       8,659,532.85
 B-1    3,442,584.00    3,426,333.62      2,797.27      19,273.13      22,070.40     0.00      0.00        0.00       3,423,536.35
 B-2    1,822,544.00    1,813,941.05      1,480.88      10,203.42      11,684.30     0.00      0.00        0.00       1,812,460.17
 B-3    1,417,534.00    1,410,842.91      1,151.78       7,935.99       9,087.77     0.00      0.00        0.00       1,409,691.13
 B-4      810,019.00      806,195.28        658.20       4,534.85       5,193.05     0.00      0.00        0.00         805,537.08
 B-5    1,012,573.33    1,007,793.29        822.82       5,668.84       6,491.66     0.00      0.00        0.00       1,006,970.47
------------------------------------------------------------------------------------------------------------------------------------
TOTAL 405,009,905.19  385,103,790.31  4,706,633.63   2,163,686.05   6,870,319.68     0.00      0.00        0.00     380,397,156.68
------------------------------------------------------------------------------------------------------------------------------------



--------------------------------------------------------------------------------------------------------------------------
                   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         357,809,807.21           140,703.61            140,703.61       353,456,237.38
--------------------------------------------------------------------------------------------------------------------------

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


            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        16.65341147             5.22902699         912.95138994                        A-1             6.75000000%
    A-2        14.16685590             5.28815060         925.94879950                        A-2             6.75000000%
    A-3        13.49222960             5.30419140         929.47512020                        A-3             6.75000000%
    A-4         0.00000000             5.62500000        1000.00000000                        A-4             6.75000000%
    A-5         0.00000000             4.86653330        1000.00000000                        A-5             5.83984000%
    A-6         0.00000000             7.90039957        1000.00000000                        A-6             9.48048000%
    A-7         0.00000000             5.62500000        1000.00000000                        A-7             6.75000000%
    A-P         7.56968406                    N/A         985.68855777                        A-P                     N/A
    A-R         0.00000000             0.00000000           0.00000000                        A-R             6.75000000%
    A-X                N/A             0.37269912         936.24342524                        A-X             0.47188291%
     M          0.81254640             5.59844767         994.46707126                         M              6.75000000%
    B-1         0.81254953             5.59844872         994.46704859                        B-1             6.75000000%
    B-2         0.81253457             5.59844920         994.46716787                        B-2             6.75000000%
    B-3         0.81252372             5.59844773         994.46724382                        B-3             6.75000000%
    B-4         0.81257353             5.59844893         994.46689522                        B-4             6.75000000%
    B-5         0.81260288             5.59844886         994.46671186                        B-5             6.75000000%
-------------------------------------------------------------------------------              ----------------------------------




(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------



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


DISTRIBUTION DATE:         28-Dec-98                                                                                      PAGE # 2
RECORD DATE:               30-Nov-98




<S>                 <C>                                                                                          <C>         
SECTION 6.02 (iii)                AGGREGATE PRINCIPAL PREPAYMENT AMOUNT                                                4,392,181.63
                                  AGGREGATE REPURCHASE PROCEEDS AMOUNT                                                         0.00


SECTION 6.02 (iv)                 AGGREGATE SERVICER ADVANCES                                                          2,271,302.18


SECTION 6.02 (iv)                 NUMBER OF OUTSTANDING MORTGAGE LOANS                                                     1,344
                                  ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL                              380,397,156.69


SECTION 6.02 (vi)                 SERVICING FEES                                                                          99,806.14


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

                                  ------------------------------------------------------------------------------------
                                         CATEGORY               COUNT                     AGG. PRIN. BAL.
                                  ------------------------------------------------------------------------------------
                                         1 MONTH                  21                                     4,934,598.98
                                         2 MONTHS                 4                                      1,193,108.41
                                        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                           16,729.66
                                  DUE PERIOD


                                  ------------------------------------------------------------------------------------
SECTION 6.02 (x)                          CLASS               PERCENTAGE                 PRINCIPAL BALANCE
                                  -----------------------                     ----------------------------------------
                                  ------------------------------------------------------------------------------------
                                         CLASS A                95.55%                                 367,972,075.89
                                         CLASS M                2.25%                                    8,666,608.27
                                         CLASS B                2.20%                                    8,465,106.15
                                  ------------------------------------------------------------------------------------

                                  NON-PO CLASS A PERCENTAGE                                                                   95.55%
                                  NON-PO CLASS A PREPAYMENT PERCENTAGE                                                       100.00%

                                  CREDIT SUPPORT LEVEL

                                                         -------------------------------------------------------------
                                                                CLASS                     CREDIT SUPPORT
                                                         -------------------------------------------------------------
                                                                              ----------------------------------------
                                                                  M                            2.20%
                                                                 B-1                           1.31%
                                                                 B-2                           0.84%
                                                                 B-3                           0.47%
                                                                 B-4                           0.26%
                                                         -------------------------------------------------------------



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










 (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
                                                     CHASE MORTGAGE FINANCE CORPORATION
                                       MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S2
                                                      STATEMENT TO CERTIFICATEHOLDERS
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------


DISTRIBUTION DATE:   28-Dec-98                                                                                             PAGE # 1
RECORD DATE:         30-Nov-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   44,940,811.02  1,064,290.51     262,154.73  1,326,445.24     0.00      0.00        0.00      43,876,520.51
A-6 CP1  13,800,000.00   13,394,885.34    317,218.34      78,136.83    395,355.17     0.00      0.00        0.00      13,077,667.00
A-6 CP2  21,900,000.00   20,872,137.76    347,968.05     121,754.14    469,722.19     0.00      0.00        0.00      20,524,169.71
  A-7     7,000,000.00      916,073.54    921,417.30           0.00    921,417.30     0.00      0.00        0.00              (0.00)
  A-8       500,000.00      514,754.47          0.00           0.00          0.00     0.00      0.00        0.00         517,757.20
  A-9   127,600,000.00  124,269,588.51    872,419.83     724,905.93  1,597,325.76     0.00      0.00        0.00     123,397,168.68
 A-10    15,600,000.00    3,649,069.84  3,670,356.08           0.00  3,670,356.08     0.00      0.00        0.00              (0.00)
 A-11     7,599,000.00    7,823,238.40     11,585.99           0.00     11,585.99     0.00      0.00        0.00       7,857,287.97
 A-12       985,000.00    1,014,066.29          0.00           0.00          0.00     0.00      0.00        0.00       1,019,981.68
 A-13     8,937,320.00    8,052,511.27    263,859.63            N/A    263,859.63     0.00      0.00        0.00       7,788,651.64
 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      236,836.49        237.30            N/A        237.30     0.00      0.00        0.00         236,599.19
  A-R           100.95            0.00          0.00           0.00          0.00     0.00      0.00        0.00               0.00
   M     11,396,000.00   11,351,835.58      9,070.72      63,854.08     72,924.80     0.00      0.00        0.00      11,342,764.86
  B-1     4,505,000.00    4,487,541.18      3,585.79      25,242.42     28,828.21     0.00      0.00        0.00       4,483,955.39
  B-2     2,385,000.00    2,375,757.10      1,898.36      13,363.63     15,261.99     0.00      0.00        0.00       2,373,858.74
  B-3     1,855,000.00    1,847,811.08      1,476.50      10,393.94     11,870.44     0.00      0.00        0.00       1,846,334.58
  B-4     1,061,000.00    1,056,888.17        844.51       5,945.00      6,789.51     0.00      0.00        0.00       1,056,043.66
  B-5     1,325,030.44    1,319,895.37      1,054.66       7,424.41      8,479.07     0.00      0.00        0.00       1,318,840.71
------------------------------------------------------------------------------------------------------------------------------------
 TOTAL  530,008,725.39  505,146,001.41  7,487,283.57   2,727,895.30 10,215,178.87     0.00      0.00        0.00     497,739,901.52
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------
                   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         486,851,033.30           187,288.90         187,288.90        479,462,343.63
------------------------------------------------------------------------------------------------------------------------

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

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

            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       1,000.00000000                         A-1          6.50000000%
A-2           0.00000000             5.41666659       1,000.00000000                         A-2          6.50000000%
A-3           0.00000000             5.50000000       1,000.00000000                         A-3          6.60000000%
A-4           N/A                    5.62500000       1,000.00000000                         A-4          6.75000000%
A-5          22.98683607             5.66208920         947.65703045                         A-5          7.00000000%
A-6 CP1      22.98683623             5.66208913         947.65702899                         A-6 CP1      7.00000000%
A-6 CP2      15.88895205             5.55954977         937.17669909                         A-6 CP2      7.00000000%
A-7         131.63104286             0.00000000           0.00000000                         A-7          7.00000000%
A-8           0.00000000             0.00000000       1,035.51440000                         A-8          7.00000000%
A-9           6.83714600             5.68108096         967.06245047                         A-9          7.00000000%
A-10        235.27923590             0.00000000           0.00000000                         A-10         7.00000000%
A-11          1.52467298             0.00000000       1,033.98973154                         A-11         7.00000000%
A-12          0.00000000             0.00000000       1,035.51439594                         A-12         7.00000000%
A-13         29.52335040             N/A                871.47507754                         A-13          N/A
A-14          0.00000000             5.62500003       1,000.00000000                         A-14         6.75000000%
A-P           0.99716776             N/A                994.22285628                         A-P           N/A
A-R           0.00000000             0.00000000           0.00000000                         A-R          6.75000000%
A-X           N/A                    0.36606560         937.13332887                         A-X          0.46162000%
M             0.79595648             5.60320112         995.32861179                         M            6.75000000%
B-1           0.79595782             5.60320089         995.32861043                         B-1          6.75000000%
B-2           0.79595807             5.60319916         995.32861216                         B-2          6.75000000%
B-3           0.79595687             5.60320216         995.32861456                         B-3          6.75000000%
B-4           0.79595664             5.60320452         995.32861451                         B-4          6.75000000%
B-5           0.79595153             5.60319958         995.32861298                         B-5          6.75000000%
-------------------------------------------------------------------------------             ---------------------------------


(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------

<PAGE>
------------------------------------------------------------------------------------------------------------------------------------



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


DISTRIBUTION DATE:    28-Dec-98                                                                                      PAGE # 2
RECORD DATE:          30-Nov-98




<S>                            <C>                                                                                  <C>         
SECTION 6.02 (iii)                AGGREGATE PRINCIPAL PREPAYMENT AMOUNT                                                7,002,442.96
                                  AGGREGATE REPURCHASE PROCEEDS AMOUNT                                                         0.00


SECTION 6.02 (iv)                 AGGREGATE SERVICER ADVANCES                                                                  0.00


SECTION 6.02 (iv)                 NUMBER OF OUTSTANDING MORTGAGE LOANS                                                     1,686
                                  ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL                              497,739,901.52


SECTION 6.02 (vi)                 SERVICING FEES                                                                         129,864.78


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

                                  ------------------------------------------------------------------------------------
                                         CATEGORY               COUNT                     AGG. PRIN. BAL.
                                  ------------------------------------------------------------------------------------
                                         1 MONTH                  20                                     5,882,525.93
                                         2 MONTHS                 2                                        989,899.02
                                        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                95.56%                                 482,706,272.93
                                         CLASS M                2.25%                                   11,351,835.58
                                         CLASS B                2.19%                                   11,087,892.90
                                  ------------------------------------------------------------------------------------

                                  NON-PO CLASS A PERCENTAGE                                                                95.55569%
                                  NON-PO CLASS A PREPAYMENT PERCENTAGE                                                    100.00000%

                                  CREDIT SUPPORT LEVEL

                                                         -------------------------------------------------------------
                                                                CLASS                     CREDIT SUPPORT
                                                         -------------------------------------------------------------
                                                                              ----------------------------------------
                                                                  M                            2.19%
                                                                 B-1                           1.31%
                                                                 B-2                           0.84%
                                                                 B-3                           0.47%
                                                                 B-4                           0.26%
                                                         -------------------------------------------------------------



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






(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE:   28-Dec-98
RECORD DATE:         30-Nov-98

------------------------------------------------------------------------------------------------------------------------------------
            BEGINNING                                                                                              ENDING
           CERTIFICATE             PRINCIPAL            INTEREST             TOTAL             ACCRETION         CERTIFICATE
 CLASS       BALANCE             DISTRIBUTION         DISTRIBUTION        DISTRIBUTION          INTEREST           BALANCE
------------------------------------------------------------------------------------------------------------------------------------
<S>      <C>                   <C>                  <C>             <C>                      <C>               <C>          
  A-1      70,900,000.00                  0.00         384,041.67           384,041.67                N/A          70,900,000.00
  A-2      42,347,000.00                  0.00         229,379.58           229,379.58                N/A          42,347,000.00
  A-3      59,497,000.00                  0.00         327,233.50           327,233.50                N/A          59,497,000.00
  A-5      44,940,811.02          1,064,290.51         262,154.73         1,326,445.24                N/A          43,876,520.51
A-6 CP1    13,394,885.34            317,218.34          78,136.83           395,355.17                N/A          13,077,667.00
A-6 CP2    20,872,137.76            347,968.05         121,754.14           469,722.19                N/A          20,524,169.71
  A-7         916,073.54            921,417.30               0.00           921,417.30           5,343.76                  (0.00)
  A-8         514,754.47                  0.00               0.00                 0.00           3,002.73             517,757.20
  A-9     124,269,588.51            872,419.83         724,905.93         1,597,325.76                N/A         123,397,168.68
 A-10       3,649,069.84          3,670,356.08               0.00         3,670,356.08          21,286.24                  (0.00)
 A-11       7,823,238.40             11,585.99               0.00            11,585.99          45,635.56           7,857,287.97
 A-12       1,014,066.29                  0.00               0.00                 0.00           5,915.39           1,019,981.68
 A-13       8,052,511.27            263,859.63                N/A           263,859.63                N/A           7,788,651.64
 A-14      84,278,300.00                  0.00         474,065.44           474,065.44                N/A          84,278,300.00
  A-P         236,836.49                237.30                N/A               237.30                N/A             236,599.19
  A-R               0.00                  0.00               0.00                 0.00                N/A                   0.00
   M       11,351,835.58              9,070.72          63,854.08            72,924.80                N/A          11,342,764.86
  B-1       4,487,541.18              3,585.79          25,242.42            28,828.21                N/A           4,483,955.39
  B-2       2,375,757.10              1,898.36          13,363.63            15,261.99                N/A           2,373,858.74
  B-3       1,847,811.08              1,476.50          10,393.94            11,870.44                N/A           1,846,334.58
  B-4       1,056,888.17                844.51           5,945.00             6,789.51                N/A           1,056,043.66
  B-5       1,319,895.37              1,054.66           7,424.41             8,479.07                N/A           1,318,840.71
---------------------------------------------------------------------------------------------------------------------------------
 TOTAL    505,146,001.41          7,487,283.57       2,727,895.30        10,215,178.87          81,183.68         497,739,901.52
---------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------


(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
                                CHASE MORTGAGE FINANCE CORPORATION
                  MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S3
                                 STATEMENT TO CERTIFICATEHOLDERS
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE:        28-Dec-98                                                                                        PAGE # 1
RECORD DATE:              30-Nov-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   58,496,432.59      980,806.88     316,855.68   1,297,662.56     0.00        0.00      0.00      57,515,625.71
 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   89,941,424.12    1,346,869.81     487,182.71   1,834,052.52     0.00        0.00      0.00      88,594,554.31
 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   44,155,826.02      151,597.47     239,177.39     390,774.86     0.00        0.00      0.00      44,004,228.55
 A-P      551,754.00      541,624.24        1,983.72     N/A              1,983.72     0.00        0.00      0.00         539,640.52
 A-R          100.36            0.00            0.00           0.00           0.00     0.00        0.00      0.00               0.00
  M     2,475,575.00    2,434,761.62        8,359.13      13,188.29      21,547.42     0.00        0.00      0.00       2,426,402.49
 B-1      787,683.00      774,696.94        2,659.72       4,196.28       6,856.00     0.00        0.00      0.00         772,037.22
 B-2      675,156.00      664,025.10        2,279.76       3,596.80       5,876.56     0.00        0.00      0.00         661,745.34
 B-3      675,156.00      664,025.10        2,279.76       3,596.80       5,876.56     0.00        0.00      0.00         661,745.34
 B-4      337,578.00      332,012.55        1,139.88       1,798.40       2,938.28     0.00        0.00      0.00         330,872.67
 B-5      450,295.59      442,871.83        1,520.48       2,398.89       3,919.37     0.00        0.00      0.00         441,351.35
------------------------------------------------------------------------------------------------------------------------------------
TOTAL 225,052,297.95  216,747,700.11    2,499,496.61   1,171,116.24   3,670,612.85     0.00        0.00      0.00     214,248,203.50
------------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------
             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         190,496,450.05            60,435.71             60,435.71       188,094,106.82
--------------------------------------------------------------------------------------------------------------------

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


            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    15.91134097       5.14025632         933.05904594                       A-1             6.50000000%
    A-2     0.00000000       5.41666714        1000.00000000                       A-2             6.50000000%
    A-3    14.28872821       5.16844411         939.88557633                       A-3             6.50000000%
    A-4     0.00000000       5.41666637        1000.00000000                       A-4             6.50000000%
    A-5     3.37663645       5.32736524         980.13695095                       A-5             6.50000000%
    A-P     3.59529790       N/A                978.04550579                       A-P              N/A
    A-R     0.00000000       0.00000000           0.00000000                       A-R             6.50000000%
    A-X            N/A       0.30480138         948.63357956                       A-X             0.38076000%
     M      3.37664179       5.32736435         980.13693384                        M              6.50000000%
    B-1     3.37663756       5.32737154         980.13695865                       B-1             6.50000000%
    B-2     3.37664184       5.32736138         980.13694613                       B-2             6.50000000%
    B-3     3.37664184       5.32736138         980.13694613                       B-3             6.50000000%
    B-4     3.37664184       5.32736138         980.13694613                       B-4             6.50000000%
    B-5     3.37662645       5.32736730         980.13695848                       B-5             6.50000000%
-------------------------------------------------------------------------         ----------------------------------


(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------

<PAGE>
------------------------------------------------------------------------------------------------------------------------------------



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

DISTRIBUTION DATE:    28-Dec-98                                                                                 PAGE # 2
RECORD DATE:          30-Nov-98




<S>                              <C>                                                                             <C>                
SECTION 6.02 (iii)                AGGREGATE PRINCIPAL PREPAYMENT AMOUNT                                                1,755,299.47
                                  AGGREGATE REPURCHASE PROCEEDS AMOUNT                                                         0.00


SECTION 6.02 (iv)                 AGGREGATE SERVICER ADVANCES                                                          1,638,739.24


SECTION 6.02 (v)                  NUMBER OF OUTSTANDING MORTGAGE LOANS                                                       770
                                  ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL                              214,248,203.50


SECTION 6.02 (vi)                 SERVICING FEES                                                                          57,257.37


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

                                  ------------------------------------------------------------------------------------
                                         CATEGORY               COUNT                     AGG. PRIN. BAL.
                                  ------------------------------------------------------------------------------------
                                         1 MONTH                  7                                      2,099,459.68
                                         2 MONTHS                 0                                              0.00
                                        3+ MONTHS                 0                                              0.00
                                       FORECLOSURE                1                                        322,273.60
                                  ------------------------------------------------------------------------------------


SECTION 6.02 (viii)               MORTGAGE LOANS ACQUIRED THROUGH FORECLOSURE

                                                         -------------------------------------------------------------
                                                                COUNT                     AGG. PRIN. BAL.
                                                         -------------------------------------------------------------
                                                               3177.52                                           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                97.55%                                 211,435,306.97
                                         CLASS M                1.12%                                    2,434,761.62
                                         CLASS B                1.33%                                    2,877,631.52
                                  ------------------------------------------------------------------------------------

                                  NON-PO CLASS A PERCENTAGE                                                                   97.54%
                                  NON-PO CLASS A PREPAYMENT PERCENTAGE                                                       100.00%

                                  CREDIT SUPPORT LEVEL

                                                         -------------------------------------------------------------
                                                                CLASS                     CREDIT SUPPORT
                                                         -------------------------------------------------------------
                                                                              ----------------------------------------
                                                                  M                            1.33%
                                                                 B-1                           0.97%
                                                                 B-2                           0.66%
                                                                 B-3                           0.36%
                                                                 B-4                           0.20%
                                                         -------------------------------------------------------------



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








 (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>

------------------------------------------------------------------------------------------------------------------------------------
                                           CHASE MORTGAGE FINANCE CORPORATION
                             MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S4
                                            STATEMENT TO CERTIFICATEHOLDERS
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE:    28-Dec-98                                                                                            PAGE # 1
RECORD DATE:          30-Nov-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      25,000,000.00    25,000,000.00           0.00    136,458.33    136,458.33     0.00      0.00       0.00     25,000,000.00
  A-2      25,850,000.00    25,850,000.00           0.00    140,020.83    140,020.83     0.00      0.00       0.00     25,850,000.00
  A-3      66,951,000.00    66,951,000.00           0.00    365,440.88    365,440.88     0.00      0.00       0.00     66,951,000.00
  A-4      61,548,000.00    61,548,000.00           0.00    335,949.50    335,949.50     0.00      0.00       0.00     61,548,000.00
  A-6       8,590,000.00     8,398,011.88     294,588.29     55,986.75    350,575.04     0.00      0.00       0.00      8,103,423.59
  A-7      79,810,000.00    78,026,231.42   2,737,030.45    451,901.92  3,188,932.37     0.00      0.00       0.00     75,289,200.97
  A-8      15,000,000.00    14,664,747.18     514,414.94     85,544.36    599,959.30     0.00      0.00       0.00     14,150,332.24
  A-9      46,000,000.00    44,971,891.29   1,577,539.16    258,588.37  1,836,127.53     0.00      0.00       0.00     43,394,352.13
A-10 CP1   31,500,000.00    30,485,882.48     420,033.04    179,104.56    599,137.60     0.00      0.00       0.00     30,065,849.44
A-10 CP2    8,500,000.00     8,310,023.40     291,501.80     48,821.39    340,323.19     0.00      0.00       0.00      8,018,521.60
A-11 CP1   31,500,000.00    30,485,882.48     420,033.04    176,564.07    596,597.11     0.00      0.00       0.00     30,065,849.44
A-11 CP2    8,500,000.00     8,310,023.41     291,501.80     48,128.89    339,630.69     0.00      0.00       0.00      8,018,521.61
  A-12     19,409,000.00     2,683,209.10   2,698,861.15          0.00  2,698,861.15     0.00      0.00       0.00              0.00
  A-13      1,350,000.00     1,381,776.70           0.00          0.00          0.00     0.00      0.00       0.00      1,389,837.06
  A-14      9,265,280.00     8,434,108.14     341,552.68           N/A    341,552.68     0.00      0.00       0.00      8,092,555.46
  A-15     87,450,000.00    87,450,000.00           0.00    491,906.25    491,906.25     0.00      0.00       0.00     87,450,000.00
  A-P         403,517.00       401,991.98         391.57           N/A        391.57     0.00      0.00       0.00        401,600.41
  A-R             100.11             0.00           0.00          0.00          0.00     0.00      0.00       0.00              0.00
   M       11,825,000.00    11,788,644.17       9,270.93     66,311.12     75,582.05     0.00      0.00       0.00     11,779,373.24
  B-1       4,675,000.00     4,660,626.76       3,665.25     26,216.03     29,881.28     0.00      0.00       0.00      4,656,961.51
  B-2       2,475,000.00     2,467,390.64       1,940.43     13,879.07     15,819.50     0.00      0.00       0.00      2,465,450.21
  B-3       1,925,000.00     1,919,081.62       1,509.22     10,794.83     12,304.05     0.00      0.00       0.00      1,917,572.40
  B-4       1,100,000.00     1,096,618.06         862.41      6,168.48      7,030.89     0.00      0.00       0.00      1,095,755.65
  B-5       1,375,121.80     1,370,894.03       1,078.11      7,711.28      8,789.39     0.00      0.00       0.00      1,369,815.92
------------------------------------------------------------------------------------------------------------------------------------
 TOTAL    550,002,018.91   526,656,034.74   9,605,774.27  2,905,496.91 12,511,271.18     0.00      0.00       0.00    517,073,972.88
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
               ORIGINAL                BEGINNING                                                                    ENDING
               NOTIONAL                 NOTIONAL                 INTEREST                  TOTAL                   NOTIONAL
 CLASS         BALANCE                  BALANCE                DISTRIBUTION             DISTRIBUTION               BALANCE
------------------------------------------------------------------------------------------------------------------------------------
<S>      <C>                     <C>                      <C>                         <C>                  <C>     
  A-5       5,505,525.93             5,505,525.93                30,968.58                30,968.58             5,505,525.93
  A-X     523,531,639.82           500,285,785.92               184,347.98               184,347.98           490,730,136.64
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------

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

                   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               5.45833320            1000.00000000                              A-1           6.55000000%
A-2         0.00000000               5.41666654            1000.00000000                              A-2           6.50000000%
A-3         0.00000000               5.45833341            1000.00000000                              A-3           6.55000000%
A-4         0.00000000               5.45833333            1000.00000000                              A-4           6.55000000%
A-5                N/A               5.62499939            1000.00000000                              A-5           6.75000000%
A-6        34.29432945               6.51766589             943.35548196                              A-6           8.00000000%
A-7        34.29432966               5.66222178             943.35548139                              A-7           6.95000000%
A-8        34.29432933               5.70295733             943.35548267                              A-8           7.00000000%
A-9        34.29432957               5.62148630             943.35548109                              A-9           6.90000000%
A-10 CP1   34.29432957               5.62148630             943.35548109                              A-10 CP1      7.05000000%
A-10 CP2   34.29432941               5.74369294             943.35548235                              A-10 CP2      7.05000000%
A-11 CP1   34.29432941               5.74369294             943.35548235                              A-11 CP1      6.95000000%
A-11 CP2   34.29432941               5.66222235             943.35548353                              A-11 CP2      6.95000000%
A-12       39.05204544               0.00000000               0.00000000                              A-12          7.00000000%
A-13        0.00000000               0.00000000            1029.50893333                              A-13          7.00000000%
A-14       36.86371918                      N/A             873.42805182                              A-14                  N/A
A-15        0.97039282               5.62500000             995.25028685                              A-15          6.75000000%
A-P         0.97039282                      N/A             995.25028685                              A-P                   N/A
A-R         0.00000000               0.00000000               0.00000000                              A-R           6.75000000%
A-X                N/A               0.35212386             937.34571001                              A-X           0.44221000%
M           0.78401099               5.60770571             996.14150021                              M             6.75000000%
B-1         0.78401070               5.60770695             996.14149947                              B-1           6.75000000%
B-2         0.78401212               5.60770505             996.14149899                              B-2           6.75000000%
B-3         0.78401039               5.60770390             996.14150649                              B-3           6.75000000%
B-4         0.78400909               5.60770909             996.14150000                              B-4           6.75000000%
B-5         0.78401055               5.60770690             996.14151997                              B-5           6.75000000%
----------------------------------------------------------------------------------------------       -------------------------------



(C) COPYRIGHT 1998, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------

<PAGE>
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE:        28-Dec-98                                                                                        PAGE # 2
RECORD DATE:              30-Nov-98




<S>                      <C>                                                                                   <C>         
SECTION 6.02 (iii)         AGGREGATE PRINCIPAL PREPAYMENT AMOUNT                                                       9,167,851.82
                           AGGREGATE REPURCHASE PROCEEDS AMOUNT                                                                0.00


SECTION 6.02 (iv)          AGGREGATE SERVICER ADVANCES                                                                         0.00


SECTION 6.02 (iv)          NUMBER OF OUTSTANDING MORTGAGE LOANS                                                            1,681
                           ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL                                     517,073,972.88


SECTION 6.02 (vi)          SERVICING FEES                                                                                134,867.97


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

                           ------------------------------------------------------------------------------------------
                                     CATEGORY                        COUNT                    AGG. PRIN. BAL.
                           ------------------------------------------------------------------------------------------
                                      1 MONTH                          9                                3,357,703.30
                                     2 MONTHS                          1                                  181,316.28
                                     3+ MONTHS                         1                                  201,691.62
                                    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                       95.58%                            503,352,779.46
                                      CLASS M                        2.24%                             11,788,644.17
                                      CLASS B                        2.19%                             11,514,611.11
                           ------------------------------------------------------------------------------------------

                           NON-PO CLASS A PERCENTAGE                                                                       95.57186%
                           NON-PO CLASS A PREPAYMENT PERCENTAGE                                                           100.00000%

                           CREDIT SUPPORT LEVEL

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

                                                         ------------------------------------------------------------
                                                                                       ------------------------------
                                                                       M                           2.19%
                                                                      B-1                          1.30%
                                                                      B-2                          0.83%
                                                                      B-3                          0.47%
                                                                      B-4                          0.26%
                                                         ------------------------------------------------------------



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









(C) COPYRIGHT 1998, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE:   28-Dec-98
RECORD DATE:         03-Dec-98

------------------------------------------------------------------------------------------------------------------------------------
              BEGINNING                                                                                                 ENDING
             CERTIFICATE        PRINCIPAL           INTEREST             TOTAL              ACCRETION                 CERTIFICATE
  CLASS        BALANCE         DISTRIBUTION       DISTRIBUTION        DISTRIBUTION           INTEREST                   BALANCE
------------------------------------------------------------------------------------------------------------------------------------
<S>      <C>                <C>               <C>               <C>                  <C>             <C>          
   A-1        25,000,000.00              0.00         136,458.33          136,458.33              N/A               25,000,000.00
   A-2        25,850,000.00              0.00         140,020.83          140,020.83              N/A               25,850,000.00
   A-3        66,951,000.00              0.00         365,440.88          365,440.88              N/A               66,951,000.00
   A-4        61,548,000.00              0.00         335,949.50          335,949.50              N/A               61,548,000.00
   A-6         8,398,011.88        294,588.29          55,986.75          350,575.04              N/A                8,103,423.59
   A-7        78,026,231.42      2,737,030.45         451,901.92        3,188,932.37              N/A               75,289,200.97
   A-8        14,664,747.18        514,414.94          85,544.36          599,959.30              N/A               14,150,332.24
   A-9        44,971,891.29      1,577,539.16         258,588.37        1,836,127.53              N/A               43,394,352.13
A-10 CP1      44,971,891.29        420,033.04         179,104.56          599,137.60              N/A               44,551,858.25
A-10 CP2       8,310,023.40        291,501.80          48,821.39          340,323.19              N/A                8,018,521.60
A-11 CP1       8,310,023.40        420,033.04         176,564.07          596,597.11              N/A                7,889,990.36
A-11 CP2       8,310,023.41        291,501.80          48,128.89          339,630.69              N/A                8,018,521.61
  A-12         2,683,209.10      2,698,861.15               0.00        2,698,861.15        15,652.05                        0.00
  A-13         1,381,776.70              0.00               0.00                0.00         8,060.36                1,389,837.06
  A-14         8,434,108.14        341,552.68                N/A          341,552.68              N/A                8,092,555.46
  A-15        87,450,000.00              0.00         491,906.25          491,906.25              N/A               87,450,000.00
   A-P           401,991.98            391.57                N/A              391.57              N/A                  401,600.41
   A-R                 0.00              0.00               0.00                0.00              N/A                        0.00
    M         11,788,644.17          9,270.93          66,311.12           75,582.05              N/A               11,779,373.24
   B-1         4,660,626.76          3,665.25          26,216.03           29,881.28              N/A                4,656,961.51
   B-2         2,467,390.64          1,940.43          13,879.07           15,819.50              N/A                2,465,450.21
   B-3         1,919,081.62          1,509.22          10,794.83           12,304.05              N/A                1,917,572.40
   B-4         1,096,618.06            862.41           6,168.48            7,030.89              N/A                1,095,755.65
   B-5         1,370,894.03          1,078.11           7,711.28            8,789.39              N/A                1,369,815.92
------------------------------------------------------------------------------------------------------------------------------------
  TOTAL      518,966,184.47      9,605,774.27       2,905,496.91       12,511,271.18        23,712.41              509,384,122.61
------------------------------------------------------------------------------------------------------------------------------------

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




(C) COPYRIGHT 1998, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
                                                 CHASE MORTGAGE FINANCE TRUST
                                MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S6
                                               STATEMENT TO CERTIFICATEHOLDERS
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------

DISTRIBUTION DATE:   28-Dec-98                                                                                             PAGE # 1
RECORD DATE:         30-Nov-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    76,508,000.00     75,249,833.53    1,339,612.66    423,280.31     1,762,892.97    0.00       0.00      0.00    73,910,220.87
 A-2    75,000,000.00     73,793,651.02    1,284,440.82    415,089.29     1,699,530.11    0.00       0.00      0.00    72,509,210.20
 A-3   155,000,000.00    152,865,600.22    2,272,568.08    859,869.00     3,132,437.08    0.00       0.00      0.00   150,593,032.14
 A-4   150,000,000.00    148,139,078.58    1,981,386.38    833,282.32     2,814,668.70    0.00       0.00      0.00   146,157,692.20
 A-5    12,605,000.00     12,605,000.00            0.00     70,903.13        70,903.13    0.00       0.00      0.00    12,605,000.00
 A-6     7,242,000.00      7,242,000.00            0.00     37,718.75        37,718.75    0.00       0.00      0.00     7,242,000.00
 A-7    17,324,112.00     17,324,112.00            0.00     90,229.75        90,229.75    0.00       0.00      0.00    17,324,112.00
 A-8     7,018,888.00      7,018,888.00            0.00     31,233.12        31,233.12    0.00       0.00      0.00     7,018,888.00
 A-10   12,836,000.00     12,595,642.18      152,577.51     70,850.49       223,428.00    0.00       0.00      0.00    12,443,064.67
 A-11   17,127,529.00     17,061,005.83       53,076.48     78,762.70       131,839.18    0.00       0.00      0.00    17,007,929.35
 A-12    4,440,471.00      4,423,224.25       13,760.57     42,086.10        55,846.67    0.00       0.00      0.00     4,409,463.68
 A-13    5,736,656.00      5,164,436.26      715,317.22     26,336.60       741,653.82    0.00       0.00      0.00     4,449,119.04
 A-14    1,062,344.00        956,377.35      132,466.19      8,092.98       140,559.17    0.00       0.00      0.00       823,911.16
 A-15   26,373,750.00     26,373,750.00            0.00    128,348.73       128,348.73    0.00       0.00      0.00    26,373,750.00
 A-16    8,791,250.00      8,791,250.00            0.00     69,454.39        69,454.39    0.00       0.00      0.00     8,791,250.00
 A-17   67,500,000.00     67,500,000.00            0.00    379,687.50       379,687.50    0.00       0.00      0.00    67,500,000.00
 A-P     1,786,904.00      1,781,325.22        7,247.92           N/A         7,247.92    0.00       0.00      0.00     1,774,077.30
 A-R           100.01              0.00            0.00          0.00             0.00    0.00       0.00      0.00             0.00
  M     14,513,400.00     14,490,708.62       11,480.69     81,510.24        92,990.93    0.00       0.00      0.00    14,479,227.93
 B-1     5,737,800.00      5,728,829.07        4,538.83     32,224.66        36,763.49    0.00       0.00      0.00     5,724,290.24
 B-2     3,037,700.00      3,032,950.62        2,402.95     17,060.35        19,463.30    0.00       0.00      0.00     3,030,547.67
 B-3     2,362,700.00      2,359,005.97        1,868.99     13,269.41        15,138.40    0.00       0.00      0.00     2,357,136.98
 B-4     1,350,000.00      1,347,889.31        1,067.91      7,581.88         8,649.79    0.00       0.00      0.00     1,346,821.40
 B-5     1,687,709.89      1,685,071.20        1,335.05      9,478.53        10,813.58    0.00       0.00      0.00     1,683,736.15
------------------------------------------------------------------------------------------------------------------------------------
TOTAL  675,042,313.90    667,529,629.23    7,975,148.25  3,726,350.23    11,701,498.48    0.00       0.00      0.00   659,554,480.98
------------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------------
           ORIGINAL                BEGINNING                                                                    ENDING
           NOTIONAL                 NOTIONAL                 INTEREST                  TOTAL                   NOTIONAL
CLASS      BALANCE                  BALANCE                DISTRIBUTION             DISTRIBUTION               BALANCE
--------------------------------------------------------------------------------------------------------------------------------
<S>   <C>                     <C>                        <C>                      <C>                   <C>         
 A-9    7,018,888.00             7,018,888.00                18,484.01                18,484.01             7,018,888.00
 A-X  586,060,663.88           578,771,351.80               164,865.98               164,865.98           571,533,482.77
------------------------------------------------------------------------------------------------------------------------------------

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

                   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         17.50944555               5.53249739             966.04565366              A-1                 6.75000000%
A-2         17.12587760               5.53452387             966.78946933              A-2                 6.75000000%
A-3         14.66172955               5.54754194             971.56794929              A-3                 6.75000000%
A-4         13.20924253               5.55521547             974.38461467              A-4                 6.75000000%
A-5          0.00000000               5.62500040            1000.00000000              A-5                 6.75000000%
A-6          0.00000000               5.20833333            1000.00000000              A-6                 6.25000000%
A-7          0.00000000               5.20833333            1000.00000000              A-7                 6.25000000%
A-8          0.00000000               4.44986727            1000.00000000              A-8                 5.33984000%
A-9                 N/A               2.63346701            1000.00000000              A-9                 3.16016000%
A-10        11.88668666               5.51967046             969.38802353              A-10                6.75000000%
A-11         3.09889885               4.59860264             993.01711006              A-11                5.53984000%
A-12         3.09889874               9.47784593             993.01711012              A-12               11.41776146%
A-13       124.69236782               4.59093242             775.55967100              A-13                6.11953000%
A-14       124.69236895               7.61804086             775.55966805              A-14               10.15453944%
A-15         0.00000000               4.86653320            1000.00000000              A-15                5.83984000%
A-16         0.00000000               7.90039983            1000.00000000              A-16                9.48048000%
A-17         0.00000000               5.62500000            1000.00000000              A-17                6.75000000%
A-P          4.05613284                      N/A             992.82183038              A-P                         N/A
A-R          0.00000000               0.00000000               0.00000000              A-R                 6.75000000%
A-X                 N/A               0.28131214             975.21215464              A-X                 0.34183000%
M            0.79104069               5.61620571             997.64548142              M                   6.75000000%
B-1          0.79104012               5.61620482             997.64548085              B-1                 6.75000000%
B-2          0.79104257               5.61620634             997.64547849              B-2                 6.75000000%
B-3          0.79103991               5.61620604             997.64548186              B-3                 6.75000000%
B-4          0.79104444               5.61620741             997.64548148              B-4                 6.75000000%
B-5          0.79104235               5.61620813             997.64548396              B-5                 6.75000000%
--------------------------------------------------------------------------------      -------------------------------------



(C) COPYRIGHT 1998, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------



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


DISTRIBUTION DATE:     28-Dec-98                                                                                           PAGE # 2
RECORD DATE:           30-Nov-98




<S>                 <C>                                                                                         <C>         
SECTION 6.02 (iii)                          AGGREGATE PRINCIPAL PREPAYMENT AMOUNT                                      7,446,111.32
                                            AGGREGATE REPURCHASE PROCEEDS AMOUNT                                               0.00


SECTION 6.02 (iv)                           AGGREGATE SERVICER ADVANCES                                                        0.00


SECTION 6.02 (iv)                           NUMBER OF OUTSTANDING MORTGAGE LOANS                                           1,958
                                            ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL                    659,554,480.98


SECTION 6.02 (vi)                           SERVICING FEES                                                               170,942.97


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

                                            ------------------------------------------------------------------------------------
                                                      CATEGORY                        COUNT              AGG. PRIN. BAL.
                                            ------------------------------------------------------------------------------------
                                                       1 MONTH                         20                          6,489,580.87
                                                      2 MONTHS                          1                            377,025.84
                                                      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                 23,347.97
                                            DUE PERIOD


                                            -----------------------------------------------------------------------------------
SECTION 6.02 (x)                                        CLASS                      PERCENTAGE          PRINCIPAL BALANCE
                                            ------------------------------                           --------------------------
                                            -----------------------------------------------------------------------------------
                                                       CLASS A                       95.71%                     638,885,174.44
                                                       CLASS M                        2.17%                      14,490,708.62
                                                       CLASS B                        2.12%                      14,153,746.17
                                            -----------------------------------------------------------------------------------

                                            NON-PO CLASS A PERCENTAGE                                                      95.69740%
                                            NON-PO CLASS A PREPAYMENT PERCENTAGE                                          100.00000%

                                            CREDIT SUPPORT LEVEL

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

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




(C) COPYRIGHT 1998, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
                                                              CHASE MORTGAGE FINANCE TRUST
                                             MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-S7
                                                            STATEMENT TO CERTIFICATEHOLDERS
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE:       28-Dec-98                                                                                       PAGE # 1
RECORD DATE:             30-Nov-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>   
 IA-1   199,844,084.00   199,844,084.00   1,698,898.14   1,040,854.60   2,739,752.74    0.00       0.00      0.00     198,145,185.86
 IA-2    96,827,043.00    96,827,043.00     891,493.08     496,238.60   1,387,731.68    0.00       0.00      0.00      95,935,549.92
 IA-3    12,756,054.00    12,756,054.00           0.00      66,437.78      66,437.78    0.00       0.00      0.00      12,756,054.00
 IA-4    38,270,162.00    38,270,162.00           0.00     199,323.76     199,323.76    0.00       0.00      0.00      38,270,162.00
 IA-5     5,677,336.00     5,677,336.00           0.00      29,569.46      29,569.46    0.00       0.00      0.00       5,677,336.00
 IA-6     1,169,260.00     1,169,260.00           0.00       6,333.49       6,333.49    0.00       0.00      0.00       1,169,260.00
 IA-8     3,242,599.00     3,242,599.00           0.00      16,888.54      16,888.54    0.00       0.00      0.00       3,242,599.00
 IA-9     1,145,715.00     1,145,715.00           0.00       5,967.27       5,967.27    0.00       0.00      0.00       1,145,715.00
IA-10     1,000,000.00     1,000,000.00      10,416.67       5,208.33      15,625.00    0.00       0.00      0.00         989,583.33
IA-11     5,000,000.00     5,000,000.00           0.00      26,041.67      26,041.67    0.00       0.00      0.00       5,000,000.00
IA-12     2,000,000.00     2,000,000.00           0.00           0.00           0.00    0.00       0.00      0.00       2,010,416.67
IA-13       940,000.00       940,000.00           0.00       4,895.83       4,895.83    0.00       0.00      0.00         940,000.00
IA-14     3,000,000.00     3,000,000.00           0.00      20,000.00      20,000.00    0.00       0.00      0.00       3,000,000.00
IA-15     1,000,000.00     1,000,000.00           0.00       6,666.67       6,666.67    0.00       0.00      0.00       1,000,000.00
IA-16     2,256,015.00     2,256,015.00           0.00      11,468.08      11,468.08    0.00       0.00      0.00       2,256,015.00
IA-17       584,894.00       584,894.00           0.00       4,512.04       4,512.04    0.00       0.00      0.00         584,894.00
IA-18       568,182.00       568,182.00           0.00            N/A           0.00    0.00       0.00      0.00         568,182.00
IA-19     2,840,909.00     2,840,909.00           0.00      16,571.97      16,571.97    0.00       0.00      0.00       2,840,909.00
IA-20       530,000.00       530,000.00           0.00       2,650.00       2,650.00    0.00       0.00      0.00         530,000.00
IA-21       530,000.00       530,000.00           0.00       2,870.83       2,870.83    0.00       0.00      0.00         530,000.00
IA-22     1,175,000.00     1,175,000.00           0.00       5,875.00       5,875.00    0.00       0.00      0.00       1,175,000.00
IA-23     1,175,000.00     1,175,000.00           0.00       6,364.58       6,364.58    0.00       0.00      0.00       1,175,000.00
IA-24     1,169,261.00     1,169,261.00           0.00       5,846.31       5,846.31    0.00       0.00      0.00       1,169,261.00
IIA-1    57,566,233.00    57,566,233.00     199,938.05     287,831.17     487,769.22    0.00       0.00      0.00      57,366,294.95
 A-R            100.00           100.00         100.00           0.52         100.52    0.00       0.00      0.00               0.00
  M       9,885,909.00     9,885,909.00      11,038.86      51,219.82      62,258.68    0.00       0.00      0.00       9,874,870.14
 B-1      3,908,382.00     3,908,382.00       4,364.20      20,249.69      24,613.89    0.00       0.00      0.00       3,904,017.80
 B-2      2,069,143.00     2,069,143.00       2,310.46      10,720.42      13,030.88    0.00       0.00      0.00       2,066,832.54
 B-3      1,379,429.00     1,379,429.00       1,540.31       7,146.95       8,687.26    0.00       0.00      0.00       1,377,888.69
 B-4      1,149,525.00     1,149,525.00       1,283.59       5,955.80       7,239.39    0.00       0.00      0.00       1,148,241.41
 B-5      1,149,528.44     1,149,528.44       1,283.59       5,955.81       7,239.40    0.00       0.00      0.00       1,148,244.85
------------------------------------------------------------------------------------------------------------------------------------
TOTAL   459,809,763.44   459,809,763.44   2,822,666.95   2,369,664.99   5,192,331.94    0.00       0.00      0.00     456,997,513.16
------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------
                ORIGINAL               BEGINNING                                                               ENDING
                NOTIONAL               NOTIONAL                INTEREST                 TOTAL                 NOTIONAL
    CLASS       BALANCE                 BALANCE              DISTRIBUTION            DISTRIBUTION              BALANCE
------------------------------------------------------------------------------------------------------------------------------
<S>        <C>              <C>                    <C>                     <C>                    <C>                
     IA-7     1,549,232.00            1,549,232.00                8,068.92               8,068.92            1,534,968.80
     IA-X   399,688,370.34          399,688,370.34              231,012.14             231,012.14          397,084,317.39
    IIA-X    60,121,393.10           60,121,393.10               34,998.51              34,998.51           59,913,195.76
-------------------------------------------------------------------------------------------------------------------------------
    TOTAL   461,358,995.44          461,358,995.44              274,079.57             274,079.57          458,532,481.95
-------------------------------------------------------------------------------------------------------------------------------


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

(C) COPYRIGHT 1998, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------

<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------

DISTRIBUTION DATE:  28-Dec-98                                                                                              PAGE # 2
RECORD DATE:        30-Nov-98


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>          <C>      
  IA-1         8.50111800            5.20833331          991.49888200                 IA-1            6.250000%
  IA-2         9.20706708            5.12500005          990.79293292                 IA-2            6.150000%
  IA-3         0.00000000            5.20833324         1000.00000000                 IA-3            6.250000%
  IA-4         0.00000000            5.20833332         1000.00000000                 IA-4            6.250000%
  IA-5         0.00000000            5.20833363         1000.00000000                 IA-5            6.250000%
  IA-6         0.00000000            5.41666524         1000.00000000                 IA-6            6.500000%
  IA-7                N/A            5.20833548          990.79337292                 IA-7            6.250000%
  IA-8         0.00000000            5.20833443         1000.00000000                 IA-8            6.250000%
  IA-9         0.00000000            5.20833715         1000.00000000                 IA-9            6.250000%
 IA-10        10.41667000            5.20833000          989.58333000                 IA-10           6.250000%
 IA-11         0.00000000            5.20833400         1000.00000000                 IA-11           6.250000%
 IA-12         0.00000000            0.00000000         1005.20833500                 IA-12           6.250000%
 IA-13         0.00000000            5.20832979         1000.00000000                 IA-13           6.250000%
 IA-14         0.00000000            6.66666667         1000.00000000                 IA-14           8.000000%
 IA-15         0.00000000            6.66667000         1000.00000000                 IA-15           8.000000%
 IA-16         0.00000000            5.08333500         1000.00000000                 IA-16           6.100000%
 IA-17         0.00000000            7.71428669         1000.00000000                 IA-17           9.257140%
 IA-18         0.00000000                   N/A         1000.00000000                 IA-18                 N/A
 IA-19         0.00000000            5.83333363         1000.00000000                 IA-19           7.000000%
 IA-20         0.00000000            5.00000000         1000.00000000                 IA-20           6.000000%
 IA-21         0.00000000            5.41666038         1000.00000000                 IA-21           6.500000%
 IA-22         0.00000000            5.00000000         1000.00000000                 IA-22           6.000000%
 IA-23         0.00000000            5.41666383         1000.00000000                 IA-23           6.500000%
 IA-24         0.00000000            5.00000428         1000.00000000                 IA-24           6.000000%
  IA-X                N/A            0.57798064          993.48479179                 IA-X            0.693576%
 IIA-1         3.47318279            5.00000009          996.52681721                 IIA-1           6.000000%
 IIA-X                N/A            0.58213072          996.53705064                 IIA-X           0.698556%
  A-R       1000.00000000            5.20000000            0.00000000                  A-R            6.250000%
   M           1.11662569            5.18109362          998.88337431                   M             6.217312%
  B-1          1.11662575            5.18109284          998.88337425                  B-1            6.217312%
  B-2          1.11662655            5.18109188          998.88337345                  B-2            6.217312%
  B-3          1.11662869            5.18109305          998.88337131                  B-3            6.217312%
  B-4          1.11662643            5.18109654          998.88337357                  B-4            6.217312%
  B-5          1.11662309            5.18108973          998.88337357                  B-5            6.217312%
----------------------------------------------------------------------          --------------------------------



(C) COPYRIGHT 1998, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------



------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE:    28-Dec-98                                                                                            PAGE # 3
RECORD DATE:          30-Nov-98




SECTION 6.02 (iii)                       AGGREGATE PRINCIPAL PREPAYMENT AMOUNT                                         2,298,814.76
                                         AGGREGATE REPURCHASE PROCEEDS AMOUNT                                                  0.00


SECTION 6.02 (iv)                        AGGREGATE SERVICER ADVANCES                                                           0.00


SECTION 6.02 (v)                         NUMBER OF OUTSTANDING MORTGAGE LOANS                                              1,339
                                         ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL                       456,997,513.15


SECTION 6.02 (vi)                        CMMC SERVICING FEES                                                              19,567.76
                                         PNC SERVICING FEES                                                               85,373.05

SECTION 6.02 (vii)                       CERTIFICATE ADMINISTRATION FEES                                                   7,663.49

SECTION 6.02 (viii)                      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 (ix)                        MORTGAGE LOANS ACQUIRED THROUGH FORECLOSURE

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


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


                                         -------------------------------------------------------------------------------------
SECTION 6.02 (xi)                                 CLASS                  PERCENTAGE                PRINCIPAL BALANCE
                                         -------------------------                         -----------------------------------
                                         -------------------------------------------------------------------------------------
                                                 CLASS A                   95.75%                              440,267,847.00
                                                 CLASS M                   2.15%                                 9,885,909.00
                                                 CLASS B                   2.10%                                 9,656,007.44
                                         -------------------------------------------------------------------------------------


                                         CREDIT SUPPORT LEVEL

                                                                  ------------------------------------------------------------
                                                                           CLASS                     CREDIT SUPPORT
                                                                  ------------------------------------------------------------
                                                                                           -----------------------------------
                                                                             M                           2.10%
                                                                            B-1                          1.25%
                                                                            B-2                          0.80%
                                                                            B-3                          0.50%
                                                                            B-4                          0.25%
                                                                  ------------------------------------------------------------



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



 (C) COPYRIGHT 1998, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
                                          CHASE MORTGAGE FINANCE CORPORATION
                              MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-AS1
                                           STATEMENT TO CERTIFICATEHOLDERS
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE:   25-Nov-98                                                                                            PAGE # 1
RECORD DATE:         31-Oct-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>            
   IA-1    40,980,752.00   37,502,672.38  1,344,756.72   210,952.53   1,555,709.25    0.00        0.00       0.00      36,157,915.66
   IA-2    14,725,947.00   14,725,947.00          0.00    82,833.45      82,833.45    0.00        0.00       0.00      14,725,947.00
   IA-3    16,250,000.00   16,250,000.00          0.00    91,406.25      91,406.25    0.00        0.00       0.00      16,250,000.00
   IA-4    12,240,000.00   12,240,000.00          0.00    68,850.00      68,850.00    0.00        0.00       0.00      12,240,000.00
   IA-5    16,100,000.00   16,100,000.00          0.00    90,562.50      90,562.50    0.00        0.00       0.00      16,100,000.00
   IA-6     9,034,036.00    9,034,036.00          0.00    50,816.45      50,816.45    0.00        0.00       0.00       9,034,036.00
   IA-7    10,000,000.00   10,000,000.00          0.00    56,250.00      56,250.00    0.00        0.00       0.00      10,000,000.00
   IA-8     5,599,985.00    5,599,985.00          0.00    31,499.92      31,499.92    0.00        0.00       0.00       5,599,985.00
   IA-9    25,993,201.00   24,663,308.58    514,171.65   138,731.11     652,902.76    0.00        0.00       0.00      24,149,136.93
    A-R           100.85            0.00          0.00         0.00           0.00    0.00        0.00       0.00               0.00
    A-P         3,123.00        3,105.15          7.90          N/A           7.90    0.00        0.00       0.00           3,097.25
   IIA-1   12,262,215.00   11,800,108.02    117,485.09    66,375.61     183,860.70    0.00        0.00       0.00      11,682,622.93
     M      5,512,562.00    5,497,674.80      5,090.35    30,924.42      36,014.77    0.00        0.00       0.00       5,492,584.45
    B-1     2,537,528.00    2,530,675.16      2,343.18    14,235.05      16,578.23    0.00        0.00       0.00       2,528,331.98
    B-2     1,662,518.00    1,658,028.21      1,535.18     9,326.41      10,861.59    0.00        0.00       0.00       1,656,493.03
    B-3       875,009.00      872,645.96        807.99     4,908.63       5,716.62    0.00        0.00       0.00         871,837.97
    B-4       437,504.00      436,322.48        403.99     2,454.31       2,858.30    0.00        0.00       0.00         435,918.49
    B-5       787,514.84      785,388.08        727.20     4,417.81       5,145.01    0.00        0.00       0.00         784,660.88
------------------------------------------------------------------------------------------------------------------------------------
   TOTAL  175,001,995.69  169,699,896.82  1,987,329.25   954,544.45   2,941,873.70    0.00        0.00       0.00     167,712,567.57
------------------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------------------------------------------------
                   ORIGINAL              BEGINNING                                                          ENDING
                   NOTIONAL               NOTIONAL              INTEREST               TOTAL               NOTIONAL
   CLASS           BALANCE                BALANCE             DISTRIBUTION         DISTRIBUTION            BALANCE
--------------------------------------------------------------------------------------------------------------------------
   IA-X         161,621,229.80         156,790,268.16           116,283.10            116,283.10       154,923,694.51
   IIA-X         13,050,781.79          12,581,531.94             7,301.55              7,301.55        12,461,610.44
--------------------------------------------------------------------------------------------------------------------------
   TOTAL        174,672,011.59         169,371,800.10           123,584.65            123,584.65       167,385,304.95
--------------------------------------------------------------------------------------------------------------------------


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

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

            FACTOR INFORMATION PER $1,000                                                         PASS THRU RATES

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

-------------------------------------------------------------------------------             -------------------------------
   IA-1                32.81434953             5.14760027         882.31459637                 IA-1              6.750000%
   IA-2                 0.00000000             5.62499987        1000.00000000                 IA-2              6.750000%
   IA-3                 0.00000000             5.62500000        1000.00000000                 IA-3              6.750000%
   IA-4                 0.00000000             5.62500000        1000.00000000                 IA-4              6.750000%
   IA-5                 0.00000000             5.62500000        1000.00000000                 IA-5              6.750000%
   IA-6                 0.00000000             5.62499972        1000.00000000                 IA-6              6.750000%
   IA-7                 0.00000000             5.62500000        1000.00000000                 IA-7              6.750000%
   IA-8                 0.00000000             5.62500078        1000.00000000                 IA-8              6.750000%
   IA-9                19.78100543             5.33720760         929.05590697                 IA-9              6.750000%
   IA-X                        N/A             0.71947912         958.56029992                 IA-X                    N/A
    A-P                 2.52961896                    N/A         991.75472302                 A-P                     N/A
   IIA-1                9.58106590             5.41301959         952.73349309                IIA-1              6.750000%
   IIA-X                       N/A             0.55947223         954.85547460                IIA-X                    N/A
    A-R                 0.00000000             0.00000000           0.00000000                 A-R               6.750000%
     M                  0.92340912             5.60980901         996.37599541                  M                6.750000%
    B-1                 0.92341050             5.60981002         996.37599270                 B-1               6.750000%
    B-2                 0.92340654             5.60980994         996.37599713                 B-2               6.750000%
    B-3                 0.92340764             5.60980516         996.37600299                 B-3               6.750000%
    B-4                 0.92339727             5.60980014         996.37601028                 B-4               6.750000%
    B-5                 0.92341117             5.60981175         996.37599210                 B-5               6.750000%
-------------------------------------------------------------------------------             -------------------------------


(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------

<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------


DISTRIBUTION DATE:     25-Nov-98                                                                                           PAGE # 2
RECORD DATE:           31-Oct-98




SECTION 6.02 (iii)                AGGREGATE PRINCIPAL PREPAYMENT AMOUNT                                                1,830,200.57
                                  AGGREGATE REPURCHASE PROCEEDS AMOUNT                                                         0.00


SECTION 6.02 (iv)                 AGGREGATE SERVICER ADVANCES                                                            976,521.87


SECTION 6.02 (v)                  NUMBER OF OUTSTANDING MORTGAGE LOANS                                                     1,444
                                  ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL                              167,712,567.72


SECTION 6.02 (vi)                 SERVICING FEES                                                                          44,390.63


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

                                  ------------------------------------------------------------------------------------
                                         CATEGORY               COUNT                     AGG. PRIN. BAL.
                                  ------------------------------------------------------------------------------------
                                         1 MONTH                  22                                     2,511,743.50
                                         2 MONTHS                 0                                              0.00
                                        3+ MONTHS                 0                                              0.00
                                       FORECLOSURE                1                                         81,305.66
                                  ------------------------------------------------------------------------------------


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                           13,091.78
                                  DUE PERIOD


                                  ------------------------------------------------------------------------------------
SECTION 6.02 (x)                          CLASS               PERCENTAGE                 PRINCIPAL BALANCE
                                  -----------------------                     ----------------------------------------
                                  ------------------------------------------------------------------------------------
                                         CLASS A                93.06%                                 157,919,162.13
                                         CLASS M                3.24%                                    5,497,674.80
                                         CLASS B                3.70%                                    6,283,059.89
                                  ------------------------------------------------------------------------------------

                                  NON-PO CLASS A PERCENTAGE                                                                93.05777%
                                  NON-PO CLASS A PREPAYMENT PERCENTAGE                                                    100.00000%

                                  CREDIT SUPPORT LEVEL

                                                         -------------------------------------------------------------
                                                                CLASS                     CREDIT SUPPORT
                                                         -------------------------------------------------------------
                                                                              ----------------------------------------
                                                                  M                            3.70%
                                                                 B-1                           2.21%
                                                                 B-2                           1.23%
                                                                 B-3                           0.72%
                                                                 B-4                           0.46%
                                                         -------------------------------------------------------------



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



(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------

<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
                                                          CHASE MORTGAGE FINANCE TRUST
                                        MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-AS2
                                                        STATEMENT TO CERTIFICATEHOLDERS
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE:  28-Dec-98                                                                                              PAGE # 1
RECORD DATE:        30-Nov-98


------------------------------------------------------------------------------------------------------------------------------------
            ORIGINAL        BEGINNING                                                                    COMPENSATING       ENDING
          CERTIFICATE      CERTIFICATE      PRINCIPAL      INTEREST        TOTAL        REALIZED LOSS      INTEREST      CERTIFICATE
 CLASS      BALANCE          BALANCE       DISTRIBUTION  DISTRIBUTION   DISTRIBUTION  PRINCIPAL INTEREST  SHORTFALLS       BALANCE
------------------------------------------------------------------------------------------------------------------------------------
 IA-1      22,617,491.00    22,362,037.60    380,566.93    125,786.46    506,353.39     0.00      0.00      0.00       21,981,470.67
 IIA-1    158,553,358.00   156,130,683.27  1,451,150.03    910,762.32  2,361,912.35     0.00      0.00      0.00      154,679,533.24
 IIA-2      5,872,347.00     5,782,618.30     53,746.30           N/A     53,746.30     0.00      0.00      0.00        5,728,872.00
IIIA-1     55,404,303.00    51,139,812.56    771,553.40    287,661.45  1,059,214.85     0.00      0.00      0.00       50,368,259.16
IIIA-2      1,000,000.00     1,000,000.00          0.00      5,625.00      5,625.00     0.00      0.00      0.00        1,000,000.00
IIIA-3      6,250,000.00     6,250,000.00          0.00     35,156.25     35,156.25     0.00      0.00      0.00        6,250,000.00
  A-P          64,974.00        64,657.77        165.26           N/A        165.26     0.00      0.00      0.00           64,492.51
  A-R             100.00             0.00          0.00          0.00          0.00     0.00      0.00      0.00                0.00
   M        6,625,002.00     6,612,049.01      6,598.82     37,192.78     43,791.60     0.00      0.00      0.00        6,605,450.19
  B-1       3,577,501.00     3,570,506.39      3,563.36     20,084.10     23,647.46     0.00      0.00      0.00        3,566,943.03
  B-2       2,120,001.00     2,115,856.04      2,111.62     11,901.69     14,013.31     0.00      0.00      0.00        2,113,744.42
  B-3       1,060,000.00     1,057,927.53      1,055.81      5,950.84      7,006.65     0.00      0.00      0.00        1,056,871.72
  B-4         662,500.00       661,204.70        659.88      3,719.28      4,379.16     0.00      0.00      0.00          660,544.82
  B-5       1,192,501.21     1,190,169.67      1,187.79      6,694.70      7,882.49     0.00      0.00      0.00        1,188,981.88
------------------------------------------------------------------------------------------------------------------------------------
 TOTAL    265,000,078.21   257,937,522.84  2,672,359.20  1,450,534.87  4,122,894.07     0.00      0.00      0.00      255,265,163.64
------------------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------------------------------------------------
                   ORIGINAL              BEGINNING                                                          ENDING
                   NOTIONAL               NOTIONAL              INTEREST               TOTAL               NOTIONAL
   CLASS           BALANCE                BALANCE             DISTRIBUTION         DISTRIBUTION            BALANCE
--------------------------------------------------------------------------------------------------------------------------
    A-X             258,987,588.61         251,952,280.53       148,568.72            148,568.72       249,294,308.02
--------------------------------------------------------------------------------------------------------------------------
   TOTAL            258,987,588.61         251,952,280.53       148,568.72            148,568.72       249,294,308.02
--------------------------------------------------------------------------------------------------------------------------


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

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

            FACTOR INFORMATION PER $1,000                                                                 PASS THRU RATES

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

-------------------------------------------------------------------------------                 --------------------------------
   IA-1           16.82622224             5.56146833         971.87927122                         IA-1              6.750000%
   IIA-1           9.15243958             5.74420076         975.56769022                        IIA-1              7.000000%
   IIA-2           9.15243939                    N/A         975.56769040                        IIA-2                    N/A
  IIIA-1          13.92587504             5.19204167         909.10374164                        IIIA-1             6.750000%
  IIIA-2           0.00000000             5.62500000        1000.00000000                        IIIA-2             6.750000%
  IIIA-3           0.00000000             5.62500000        1000.00000000                        IIIA-3             6.750000%
    A-X                   N/A             0.57365189         962.57241267                         A-X               0.707644%
    A-P            2.54347893                    N/A         992.58949734                         A-P                     N/A
    A-R            0.00000000             0.00000000           0.00000000                         A-R               6.750000%
     M             0.99604800             5.61400283         997.04878429                          M                6.750000%
    B-1            0.99604724             5.61400262         997.04878629                         B-1               6.750000%
    B-2            0.99604670             5.61400207         997.04878441                         B-2               6.750000%
    B-3            0.99604717             5.61400000         997.04879245                         B-3               6.750000%
    B-4            0.99604528             5.61400755         997.04878491                         B-4               6.750000%
    B-5            0.99604930             5.61399850         997.04878287                         B-5               6.750000%
-------------------------------------------------------------------------------                 --------------------------------

(C) COPYRIGHT 1998, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------


DISTRIBUTION DATE:   28-Dec-98                                                                                            PAGE # 2
RECORD DATE:         30-Nov-98




SECTION 6.02 (iii)                AGGREGATE PRINCIPAL PREPAYMENT AMOUNT                                                2,414,864.27
                                  AGGREGATE REPURCHASE PROCEEDS AMOUNT                                                         0.00


SECTION 6.02 (iv)                 AGGREGATE SERVICER ADVANCES                                                          1,508,661.61


SECTION 6.02 (v)                  NUMBER OF OUTSTANDING MORTGAGE LOANS                                                     2,038
                                  ENDING PRINCIPAL BALANCE OF OUTSTANDING MORTGAGE POOL                              255,265,163.64


SECTION 6.02 (vi)                 SERVICING FEES                                                                          66,719.87


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

                                  ------------------------------------------------------------------------------------
                                         CATEGORY               COUNT                     AGG. PRIN. BAL.
                                  ------------------------------------------------------------------------------------
                                         1 MONTH                  25                       3,746,819.99
                                         2 MONTHS                 5                          593,085.26
                                        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                           10,261.15
                                  DUE PERIOD


                                  ------------------------------------------------------------------------------------
SECTION 6.02 (x)                          CLASS               PERCENTAGE                 PRINCIPAL BALANCE
                                  -----------------------                     ----------------------------------------
                                  ------------------------------------------------------------------------------------
                                         CLASS A                94.10%                                 242,729,809.50
                                         CLASS M                2.56%                                    6,612,049.01
                                         CLASS B                3.33%                                    8,595,664.33
                                  ------------------------------------------------------------------------------------

                                  NON-PO CLASS A PERCENTAGE                                                                94.10263%
                                  NON-PO CLASS A PREPAYMENT PERCENTAGE                                                    100.00000%

                                  CREDIT SUPPORT LEVEL

                                                         -------------------------------------------------------------
                                                                CLASS                     CREDIT SUPPORT
                                                         -------------------------------------------------------------
                                                                              ----------------------------------------
                                                                  M                            3.33%
                                                                 B-1                           1.95%
                                                                 B-2                           1.13%
                                                                 B-3                           0.72%
                                                                 B-4                           0.46%
                                                         -------------------------------------------------------------



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



















(C) COPYRIGHT 1998, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>