SECURITIES AND EXCHANGE COMMISSION
                              Washington, D.C. 20549
                               ____________________

                                     FORM 10-K

                        FOR ANNUAL AND TRANSITION REPORTS
                      PURSUANT TO SECTION 13 OR 15(d) OF THE
                          SECURITIES EXCHANGE ACT OF 1934

(Mark One)

         [X]    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                SECURITIES EXCHANGE ACT OF 1934

         FOR THE FISCAL YEAR ENDED: DECEMBER 31, 1998
                           or
         [   ]    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                  SECURITIES EXCHANGE ACT OF 1934

                        Commission file number: 33-92950


                       CHASE MORTGAGE FINANCE CORPORATION
       (Issuer in respect of Chase Mortgage Finance Trust Series 1998-S1,
                  1998-S2, 1998-S3, 1998-S4, 1998-AS1, 1998-S6
                         1998-AS2, 1998-S7 and 1998-S8)
                              (the "Certificates")
                             ----------------------
             (Exact name of Registrant as specified in its charter)



          Delaware                                         52-1495132
 --------------------------------------------     ------------------------------
 (State or other jurisdiction of                  (I.R.S. Employer
 incorporation)                                   Identification No.

          343 Thornall Street
          Edison, New Jersey                               10043
 --------------------------------------------     ------------------------------
 Address of principal executive                           (Zip Code)
 offices)

Registrant's telephone number, including area code:  (732) 205-0600

Securities registered pursuant to Section 12(b) of the Act:   NONE

Securities registered pursuant to Section 12(g) of the Act:   NONE

     Indicate  by check mark  whether  the  registrant  (1) has filed all
reports  required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such shorter
period that the registrant was required to file such reports) and (2) has been
subject to such filing requirements for the past 90 days.  Yes:  X  No: ____

     Indicate by check mark if disclosure of delinquent  filers  pursuant to
Item 405 of Regulation S-K is not contained  herein,  and will not be
contained,  to the best of registrant's  knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-K
or any amendment to this Form 10-K.  NOT APPLICABLE

     State the aggregate market value of the voting stock held by non-
affiliates  of the Registrant.  The aggregate market value shallbe computed by
reference to the price at which the stock was sold,  or the average bid and
asked priced of such stock,  as of a specified date within 60 days prior to the
date of filing.  (See definition of affiliate in Rule 405).  NOT APPLICABLE.

     This Annual Report is filed pursuant to Sections 13 and 15(d) of the
Securities  Exchange Act of 1934, as amended,  in the manner described in
"no-action"  letters  submitted to the Office of Chief Counsel on behalf of the
originators  of  comparable  trusts and, in particular,  the letter dated
May 24, 1988 issued to Chemical  Mortgage  Securities,  Inc.  (currently  known
as Chase  Funding,  Inc.) an affiliate of the  registrant  (the  "Exemption
Orders").  Accordingly,  responses to certain  items have been omitted from or
modified in this Annual Report.

     The  Certificates for each Series represent the entire  beneficial
ownership  interest in a trust fund (for each Series a "Trust Fund") consisting,
among other things, of a segregated pool of one- to four-family first-lien
mortgage loans (the "Mortgage Loans").


PART I

Item 1.           Business.

                  Omitted.

Item 2.           Properties.

                  Information  regarding the mortgaged properties is included
                  in the Annual Statement of Compliance filed under Item 8 and
                  Item 14 hereof.

Item 3.           Legal Proceedings.

                  The registrant knows of no material pending legal  
proceedings with respect to each Trust Fund,  involving the registrant, Trust
Fund, Citibank N.A. (the "Trustee") and Chase Manhattan Mortgage  Corporation
(the applicable  "Servicer"),  and in the case of Series 1998-S7, PNC Mortgage
Securities Corp. as Servicer, other than ordinary routine litigation incidental
to duties of the registrant,  Trustee or the Servicer under the applicable
pooling and servicing agreement for the respective Series.


Item 4.           Submission of Matters to a Vote of Security Holders.

                  No matter was submitted to a vote of Certificateholders
during the fiscal year covered by this report.



<PAGE>

PART II

Item 5.           Market for Registrant's Common Equity and Related
                  Stockholder Matters.

                   (a)     1.       There is no established public market for
                           the  Certificates of any Series.

                           2.       As of December 31, 1998, the following
                           Series had the listed number of holders of record:

                                   Series           Number of Holders of Record

                                   Series 1998-S1       16
                                   Series 1998-S2       23
                                   Series 1998-S3       14
                                   Series 1998-S4       24
                                   Series 1998-AS1      23
                                   Series 1998-S6       27
                                   Series 1998-AS2      15
                                   Series 1998-S7       35
                                   Series 1998-S8       15


                  (b)      To the  knowledge  of the  registrant,  there  are
                  no  reported  high  and low bid  quotations  for any of the
                  Certificates for any Series.

Item 6.           Selected Financial Data.

                  Omitted.

Item 7.           Management's Discussion and Analysis of Financial Condition
                  and Results of Operations.

                  Year 2000 Compliance

     Year 2000 efforts for Chase Manhattan Mortgage Corporation  ("CMMC") are
being coordinated,  managed and monitored as part of the Year 2000  efforts of
The Chase  Manhattan  Corporation  (the  "Corporation")  by the  Corporation's
Year 2000  Enterprise Program Office (the "Program  Office").  The Program
Office  reports  directly to the Executive  Committee of the  Corporation  and
is responsible  for the  Corporation's  Year 2000  remediation  efforts,  on a
global  basis,  both  technical  and  business-related.  In addition,  a Year
2000 Core Team (the "Core Team"),  consisting of senior  managers from internal
audit,  technology risk and control, financial  management  and  control,  the
technology  infrastructure  division,  legal and the Program  Office,  provides
independent oversight  of the process.  The Core Team,  which also  reports
directly to the  Corporation's  Executive  Committee,  is charged with
identifying key risks and ensuring necessary management attention for timely
resolution of project issues.

     The  Corporation's  Year 2000 Program  continues to evolve.  On January 1,
1999, the  Corporation  established a Year 2000  Business  Risk  Council,
comprised  of  approximately  20  senior  business  leaders  --  line
managers,  risk  managers,  and representatives  of key staff functions -- to
identify potential Year 2000 business risks,  coordinate  planning and
readiness efforts, refine contingency plans for Year 2000, and establish a Year
2000 command center structure and rapid response teams.

     The  Corporation's  Year 2000 Program is tracked  against  well-defined
milestones.  The  Corporation  completed its inventory and assessment phases
on schedule on September 30, 1997,  identifying affected hardware and software,
prioritizing tasks and establishing  implementation  plans.  As of December 31,
1998,  substantially  all of the  applications  related to the mortgage  loan
operations of CMMC had been remediated.

     In addition,  each of CMMC's third party service  providers has been
contacted to determine its Year 2000  readiness and  establish a testing
schedule.  In many cases  testing  has begun and  testing  with all such third
party  service  providers  is scheduled  throughout  1999.  The  Corporation
also  expects to continue to  participate  in tests  organized  by major
industry  and governmental infrastructure organizations as they are scheduled
during the remainder of 1999.

     At September 30, 1998, the  Corporation's  estimate for Year 2000
remediation costs for 1997 - 1999 was approximately $363 million.  None of
these costs will be borne by the Trust.

     In its normal course of business,  the Corporation  manages many types of
risk. The  Corporation  recognizes that the risks  presented by Year 2000 are
unique given the pervasive  nature of the problem and the higher  likelihood
that Year 2000 risk may present itself in multiple,  simultaneous  impacts.
Because of this, the Corporation has adjusted and will continue to adjust its
risk management  processes  and  contingency  plans to take the  most  probable
anticipated  effects  into  account.  In this  regard,  the Corporation  has
begun its event  planning for the Year 2000 with the goal of  preventing  or
mitigating  potential  disruptions.  The Corporation's Year 2000 events
planning includes creation of command centers;  performance of dress rehearsals
and simulation  modeling for various  possible  business  and  operation
risks;  establishment  of special  rapid  response  technology  teams;
scheduling  of availability of key personnel; additional training and testing
activities; and the establishment of rapid decision processes.

     The  Corporation's  expectations  for completion of its Year 2000
remediation and testing  efforts,  the anticipated costs to complete the
project and the anticipated  business,  operational and financial  risks to the
Corporation,  CMMC and the Trust are subject to a number of  uncertainties.
In  particular,  a large number of similar  failures by account  obligors,
banks and other financial  institutions or other  participants in the national
payments systems could also adversely affect the time of collections on
the Mortgage Loans.

Item 8.           Financial Statements and Supplementary Data.

                  In accordance with the Exemption  Orders, the Annual
Statement of Compliance and the Annual  Independent  Accountant's Servicing
Reports for the Certificates for each Series are included herein as Exhibits
99.1 and 99.2, respectively.

Item 9.           Changes in and Disagreements with Accountants on Accounting
                  and Financial Disclosure.

                  None.



<PAGE>

  PART III


Item 10. Directors and Executive Officers of the Registrant.

                  Omitted.

Item 11. Executive Compensation.

                  Omitted.

Item 12. Security Ownership of Certain Beneficial Owners and Management.

                  As of December 31, 1998, there were the following holders of
record with more than 5% of each class of Series 1998-S1:

Title of Class   Name and Address of          Original Certificate  % Class
                 Holders of Record             Principal Balance

Class A-1        Cede & Co.                      $156,000,000         100%
                 55 Water Street
                 New York, NY 10005
Class A-2        Cede & Co.                      $100,000,000         100%
                 55 Water Street
                 New York, NY 10005
Class A-3        Cede & Co.                      $50,000,000          100%
                 55 Water Street
                 New York, NY 10005
Class A-4        Cede & Co.                      $22,100,000          100%
                 55 Water Street
                 New York, NY 10005
Class A-5        Cede & Co.                      $14,058,95           100%
                 55 Water Street
                 New York, NY 10005
Class A-6        Cede & Co.                      $4,686,325           100%
                 55 Water Street
                 New York, NY 10005
Class A-7        Cede & Co.                      $40,500,000          100%
                 55 Water Street
                 New York, NY 10005
Class A-P        Cede & Co.                      $451,538             100%
                 55 Water Street
                 New York, NY 10005
Class A-R        TFinn & Co.                     $100                 100%
                 c/o Chemical Bank
                 P.O. Box 50000
                 Newark, NJ 07101-8006
Class M          Heisen & Co.                    $8,707,712           100%
                 c/o The Chase Manhattan Bank
                 Dept. #3492
                 P.O. Box 50000
                 Newark, NJ 07101-8006
Class B-1        Bear Stearns Securities Corp.   $3,442,584           100%
                 Dept. C
                 P.O. Box 596
                 Bowling Green Station
                 New York, NY 10274
Class B-2        Bear Stearns Securities Corp.   $1,822,544           100%
                 Dept. C
                 P.O. Box 596
                 Bowling Green Station
                 New York, NY 10274

                  As of December 31, 1998, there were the following holders of
record with more than 5% of each class of Series 1998-S2:

Title of Class   Name and Address of         Original Certificate     % Class
                 Holders of Record           Principal Balance

Class A-1        Cede & Co.                  $70,900,000              100%
                 55 Water Street
                 New York, NY 10005
Class A-2        Cede & Co.                  $42,347,000              100%
                 55 Water Street
                 New York, NY 10005
Class A-3        Cede & Co.                  $59,497,000              100%
                 55 Water Street
                 New York, NY 10005
Class A-4        Cede & Co.                  $0                       100%
                 55 Water Street
                 New York, NY 10005
Class A-5        Cede & Co.                  $46,400,000              100%
                 55 Water Street
                 New York, NY 10005
Class A-6        Cede & Co.                  $35,700,000              100%
                 55 Water Street
                 New York, NY 10005
Class A-7        Cede & Co.                  $7,000,000               100%
                 55 Water Street
                 New York, NY 10005
Class A-8        Cede & Co.                  $500,000                 100%
                 55 Water Street
                 New York, NY 10005
Class A-9        Cede & Co.                  $127,600,000             100%
                 55 Water Street
                 New York, NY 10005
Class A-10       Cede & Co.                  $15,600,000              100%
                 55 Water Street
                 New York, NY 10005
Class A-11       Cede & Co.                  $7,599,000               100%
                 55 Water Street
                 New York, NY 10005
Class A-12       Cede & Co.                  $985,000                 100%
                 55 Water Street
                 New York, NY 10005
Class A-13       Cede & Co.                  $8,937,320               100%
                 55 Water Street
                 New York, NY 10005
Class A-14       Cede & Co.                  $84,278,300              100%
                 55 Water Street
                 New York, NY 10005
Class A-P        Cede & Co.                  $237,974                 100%
                 55 Water Street
                 New York, NY 10005
Class A-R        TFinn & Co.                 $100                     100%
                 c/o Chemical Bank
                 P.O. Box 50000
                 Newark, NJ 07101-8006
Class M          Bost and Co.                $11,396,000              100%
                 c/o Mellon Bank
                 P.O. Box 3195
                 Pittsburgh, PA 15230-3195

Class B-1        Bost and Co.                 $4,505,000              100%
                 c/o Mellon Bank
                 P.O. Box 3195
                 Pittsburgh, PA 15230-3195
Class B-2        TFinn & Co.                  $2,385,000              100%
                 c/o Chemical Bank
                 P.O. Box 50000
                 Newark, NJ 07101-8006

                  As of December 31, 1998, there were the following holders of
record with more than 5% of each class of Series 1998-S3:

Title of Class   Name and Address of               Original Certificate  % Class
                 Holders of Record                 Principal Balance

Class A-1        Cede & Co.                        $61,642,000             100%
                 55 Water Street
                 New York, NY 10005
Class A-2        Cede & Co.                        $7,000,000              100%
                 55 Water Street
                 New York, NY 10005
Class A-3        Cede & Co.                        $94,261,000             100%
                 55 Water Street
                 New York, NY 10005
Class A-4        Cede & Co.                        $11,300,000             100%
                 55 Water Street
                 New York, NY 10005
Class A-5        Cede & Co.                        $44,896,000             100%
                 55 Water Street
                 New York, NY 10005
Class A-P        Cede & Co.                        $555,754                100%
                 55 Water Street
                 New York, NY 10005
Class A-R        Chase Securities Inc.             $100                    100%
                 270 Park Avenue
                 New York, NY 10017-2070
Class M          Bigline & Co.                     $2,475,575              100%
                 c/o State Street Bank & Trust Co.
                 P.O. Box 5756
                 Boston, MA 02206
Class B-1        Bost and Co.                      $787,683                100%
                 c/o Mellon Bank
                 P.O. Box 3195
                 Pittsburgh, PA 15230-3195
Class B-2        Bost and Co.                      $675,156                100%
                 c/o Mellon Bank
                 P.O. Box 3195
                 Pittsburgh, PA 15230-3195

                  As of December 31, 1998, there were the following holders of
 record with more than 5% of each class of Series 1998-S4:

Title of Class   Name and Address of           Original Certificate    % Class
                 Holders of Record             Principal Balance

Class A-1        Cede & Co.                    $25,000,000             100%
                 55 Water Street
                 New York, NY 10005
Class A-2        Cede & Co.                    $25,850,000             100%
                 55 Water Street
                 New York, NY 10005
Class A-3        Cede & Co.                    $66,951,000             100%
                 55 Water Street
                 New York, NY 10005
Class A-4        Cede & Co.                    $61,548,000             100%
                 55 Water Street
                 New York, NY 10005
Class A-5        Cede & Co.                    0                       100%
                 55 Water Street
                 New York, NY 10005
Class A-6        Cede & Co.                    $8,590.000              100%
                 55 Water Street
                 New York, NY 10005
Class A-7        Cede & Co.                    $79,810,000             100%
                 55 Water Street
                 New York, NY 10005
Class A-8        Cede & Co.                    $15,000,000             100%
                 55 Water Street
                 New York, NY 10005
Class A-9        Cede & Co.                    $46,000,000             100%
                 55 Water Street
                 New York, NY 10005
Class A-10       Cede & Co.                    $40,000,000             100%
                 55 Water Street
                 New York, NY 10005
Class A-11       Cede & Co.                    $40,000,000             100%
                 55 Water Street
                 New York, NY 10005
Class A-12       Cede & Co.                    $19,409,000             100%
                 55 Water Street
                 New York, NY 10005
Class A-13       Cede & Co.                    $1,350,000              100%
                 55 Water Street
                 New York, NY 10005
Class A-14       Cede & Co.                    $9,265,280              100%
                 55 Water Street
                 New York, NY 10005
Class A-15       Cede & Co.                    $87,450,000             100%
                 55 Water Street
                 New York, NY 10005
Class A-P        Cede & Co.                    $403,517                100%
                 55 Water Street
                 New York, NY 10005
Class A-R        TFinn & Co.                   $100                    100%
                 c/o Chemical Bank
                 P.O. Box 50000
                 Newark, NJ 07101
Class M          TFinn & Co.                   $11,825,000             100%
                 c/o Chemical Bank
                 P.O. Box 50000
                 Newark, NJ 07101
Class B-1        TFinn & Co.                   $4,675,000              100%
                 c/o Chemical Bank
                 P.O. Box 50000
                 Newark, NJ 07101
Class B-2        Bear Stearns Securities Corp. $2,475,000              100%
                 Dept. C
                 P.O. Box 596
                 Bowling Green Station
                 New York, NY 10274

                  As of December 31, 1998, there were the following holders of
record with more than 5% of each class of Series 1998-AS1:

Title of Class   Name and Address on          Original Certificate      % Class
                 Holders of Record             Principal Balance

Class IA-1       Cede & Co.                       $40,980,752            100%
                 55 Water Street
                 New York, NY 10005
Class IA-2       Cede & Co.                       $14,725,947            100%
                 55 Water Street
                 New York, NY 10005
Class IA-3       Cede & Co.                       $16,250,000            100%
                 55 Water Street
                 New York, NY 10005
Class IA-4       Cede & Co.                       $12,240,000            100%
                 55 Water Street
                 New York, NY 10005
Class IA-5       Cede & Co.                       $16,100,000            100%
                 55 Water Street
                 New York, NY 10005
Class IA-6       Cede & Co.                        $9,034,036            100%
                 55 Water Street
                 New York, NY 10005

Class IA-7       Cede & Co.                       $10,000,000            100%
                 55 Water Street
                 New York, NY 10005
Class IA-8       Cede & Co.                       $5,599.985             100%
                 55 Water Street
                 New York, NY 10005
Class IA-9       Cede & Co.                       $25,993,201            100%
                 55 Water Street
                 New York, NY 10005
Class IA-X       Cede & Co.                       $0                     100%
                 55 Water Street
                 New York, NY 10005
Class IIA-1      Cede & Co.                       $12,262,215            100%
                 55 Water Street
                 New York, NY 10005
Class IIA-X      Cede & Co.                       $0                     100%
                 55 Water Street
                 New York, NY 10005
Class A-P        Cede & Co.                       $3,123                 100%
                 55 Water Street
                 New York, NY 10005
Class A-R        ITW Residuals II Inc.            $100                   100%
                 1600 West Lake Avenue
                 Glenview, IL 0025
Class M          Hare & Co.                       $5,512,562             100%
                 c/o The Bank of New York
                 P.O. Box 11203
                 New York, NY 10286
Class B-1        Pondfront & Co.                  $700,000               27.58%
                 c/o State Street Bank & Trust Co.
                 P.O. Box 5756
                 Boston, MA 02206
                 Credit Suisse/First Boston       $1,237,528             48.76%
                 5 World Trade Center, 7 Fl.
                 New York, NY 10048
                 MAC & Co.                        $600,000               23.64%
                 P.O. Box 3195
                 Attn: MBS Income Unit
                 Pittsburgh, PA 15230-315
Class B-2        Credit Suisse/First Boston       $1,662,518             100%
                 5 World Trade Center
                 New York, NY 10048

                 As of December 31, 1998, there were the following holders of
record with more than 5% of each class of Series 1998-S6:

Title of Class    Name and Address on          Original Certificate    % Class
                  Holders of Record             Principal Balance

Class A-1        Cede & Co.                        $76,508,000            100%
                 55 Water Street
                 New York, NY 10005
Class A-2        Cede & Co.                        $75,000,000            100%
                 55 Water Street
                 New York, NY 10005
Class A-3        Cede & Co.                        $155,000,000           100%
                 55 Water Street
                 New York, NY 10005
Class A-4        Cede & Co.                        $150,000,000           100%
                 55 Water Street
                 New York, NY 10005
Class A-5        Cede & Co.                        $12,605,000            100%
                 55 Water Street
                 New York, NY 10005
Class A-6        Cede & Co.                        $7,242,000             100%
                 55 Water Street
                 New York, NY 10005
Class A-7        Cede & Co.                        $17,342,112            100%
                 55 Water Street
                 New York, NY 10005
Class A-8        Cede & Co.                        $7,018,888             100%
                 55 Water Street
                 New York, NY 10005
Class A-9        Cede & Co.                        $0                     100%
                 55 Water Street
                 New York, NY 10005
Class A-10       Cede & Co.                        $12,836,000            100%
                 55 Water Street
                 New York, NY 10005
Class A-11       Cede & Co.                        $17,127,529            100%
                 55 Water Street
                 New York, NY 10005
Class A-12       Cede & Co.                        $4,440,471             100%
                 55 Water Street
                 New York, NY 10005
Class A-13       Cede & Co.                        $5,736.656             100%
                 55 Water Street
                 New York, NY 10005
Class A-14       Cede & Co.                        $1,062,344             100%
                 55 Water Street
                 New York, NY 10005
Class A-15       Cede & Co.                        $26,373,750            100%
                 55 Water Street
                 New York, NY 10005
Class A-16       Cede & Co.                        $8,791,250             100%
                 55 Water Street
                 New York, NY 10005
Class A-17       Cede & Co.                        $67,500,000            100%
                 55 Water Street
                 New York, NY 10005
Class A-P        Cede & Co.                        $1,786,904             100%
                 55 Water Street
                 New York, NY 10005
Class A-R        Cede & Co.                        $100                   100%
                 55 Water Street
                 New York, NY 10005
Class M          Sigler & Co. Inc.                $14,513,400            100%
                 c/o The Chase Manhattan Bank
                 Dept. #3492
                 P.O. Box 50000
                 Newark, NJ 07101-8006
Class B-1        Paine Webber Inc.                 $3,737,800             65.14%
                 1000 Harbor Blvd.
                 Weehawken, NJ 07087
                 Hare & Co.                        $2,000,000             34.86%
                 c/o The Bank of New York
                 P.O. Box 11203
                 New York, NY 10286
Class B-2        Bost and Co.                      $3,037,700              100%
                 c/o Mellon Bank
                 P.O. Box 3195
                 Pittsburgh, PA 15230-3195

                  As of December 31, 1998, there were the following holders of
record with more than 5% of each class of Series 1998-AS2:

Title of Class   Name and Address on            Original Certificate   % Class
                 Holders of Record              Principal Balance

Class IA-1       Cede & Co.                     $22,617,491              100%
                 55 Water Street
                 New York, NY 10005
Class IIA-1      Cede & Co.                     $158,553,358             100%
                 55 Water Street
                 New York, NY 10005
Class IIA-2      Cede & Co.                     $5,872,347               100%
                 55 Water Street
                 New York, NY 10005
Class IIIA-1     Cede & Co.                     $55,404,303              100%
                 55 Water Street
                 New York, NY 10005
Class IIIA-2     Cede & Co.                     $1,000,000               100%
                 55 Water Street
                 New York, NY 10005
Class IIIA-3     Cede & Co.                     $6,250,000               100%
                 55 Water Street
                 New York, NY 10005
Class A-P        Cede & Co.                     $$64,974                 100%
                 55 Water Street
                 New York, NY 10005
Class A-R        ITW Residuals II Inc.          $100                     100%
                 3600 West Lake Avenue
                 Glenview, IL 60025
Class M          Hare & Co.                     $6,625,002               100%
                 c/o The Bank of New York
                 P.O. Box 11203
                 New York, NY 10286
Class B-1        Credit Suisse/First Boston     $3,577,5012              100%
                 5 World Trade Center, 7 Fl.
                 New York, NY 10048
Class B-2        Credit Suisse/First Boston     $2,120,001               100%
                 5 World Trade Center, 7 Fl.
                 New York, NY 10048

                  As of December 31, 1998, there were the following holders of
record with more than 5% of each class of Series 1998-S7:

Title of Class   Name and Address on           Original Certificate     % Class
                 Holders of Record             Principal Balance

Class IA-1       Cede & Co.                    $199,844,084             100%
                 55 Water Street
                 New York, NY 10005
Class IA-2       Cede & Co.                    $96,827,043              100%
                 55 Water Street
                 New York, NY 10005
Class IA-3       Cede & Co.                    $12,756,054              100%
                 55 Water Street
                 New York, NY 10005
Class IA-4       Cede & Co.                    $38,270,162              100%
                 55 Water Street
                 New York, NY 10005
Class IA-5       Cede & Co.                    $5,677,336               100%
                 55 Water Street
                 New York, NY 10005
Class IA-6       Cede & Co.                    $1,169,260               100%
                 55 Water Street
                 New York, NY 10005
Class IA-7       Cede & Co.                    $1,549,232               100%
                 55 Water Street               (notional amount)
                 New York, NY 10005
Class IA-8       Cede & Co.                    $3,242,599               100%
                 55 Water Street
                 New York, NY 10005
Class IA-9       Cede & Co.                    $1,145,715               100%
                 55 Water Street
                 New York, NY 10005
Class IA-10      Cede & Co.                    $1,000,000               100%
                 55 Water Street
                 New York, NY 10005
Class IA-11      Cede & Co.                    $5,000,000               100%
                 55 Water Street
                 New York, NY 10005
Class IA-12      Cede & Co.                    $2,000,000               100%
                 55 Water Street
                 New York, NY 10005
Class IA-13      Cede & Co.                    $940,000                 100%
                 55 Water Street
                 New York, NY 10005
Class IA-14      Cede & Co.                    $3,000,000               100%
                 55 Water Street
                 New York, NY 10005
Class IA-15      Cede & Co.                    $1,000,000               100%
                 55 Water Street
                 New York, NY 10005
Class IA-16      Cede & Co.                    $2,256,015               100%
                 55 Water Street
                 New York, NY 10005
Class IA-17      Cede & Co.                    $584,894                 100%
                 55 Water Street
                 New York, NY 10005
Class IA-18      Cede & Co.                    $568,182                 100%
                 55 Water Street
                 New York, NY 10005
Class IA-19      Cede & Co.                    $2,840,909               100%
                 55 Water Street
                 New York, NY 10005
Class IA-20      Cede & Co.                    $530,000                 100%
                 55 Water Street
                 New York, NY 10005
Class IA-21      Cede & Co.                    $530,000                 100$
                 55 Water Street
                 New York, NY 10005
Class IA-22      Cede & Co.                    $1,175,000               100%
                 55 Water Street
                 New York, NY 10005
Class IA-23      Cede & Co.                    $1,175,000               100%
                 55 Water Street
                 New York, NY 10005
Class IA-24      Cede & Co.                    $1,169,261               100%
                 55 Water Street
                 New York, NY 10005
Class IA-X       Cede & Co.                    $18,669,784              100%
                 55 Water Street               (notional amount)
                 New York, NY 10005
Class IIA-1      Cede & Co.                    $57,566,233              100%
                 55 Water Street
                 New York, NY 10005
Class IIA-X      Cede & Co.                    $3,265,742               100%
                 55 Water Street               (notional amount)
                 New York, NY 10005
Class A-R        DLJ Mortgage Capital Inc.     $100                     100%
                 140 Broadway
                 New York, NY 10005
Class M          DLJ Mortgage Capital Inc.     $9,885,909               100%
                 140 Broadway
                 New York, NY 10005
Class B-1        DLJ Mortgage Capital Inc.     $3,908,382               100%
                 140 Broadway
                 New York, NY 10005
Class B-2        DLJ Mortgage Capital Inc.     $2,069,143               100%
                 140 Broadway
                 New York, NY 10005

                  As of December 31, 1998, there were the following holders of
record with more than 5% of each class of Series 1998-S8:

Title of Class   Name and Address on        Original Certificate       % Class
                 Holders of Record          Principal Balance

Class A-1        Cede & Co.                 $42,422,000                  100%
                 55 Water Street
                 New York, NY 10005
Class A-2        Cede & Co.                 $123,178,000                 100%
                 55 Water Street
                 New York, NY 10005
Class A-3        Cede & Co.                 $122,000,000                 100%
                 55 Water Street
                 New York, NY 10005
Class A-4        Cede & Co.                 $51,679,300                  100%
                 55 Water Street
                 New York, NY 10005
Class A-5        Cede & Co.                 $31,122,000                  100%
                 55 Water Street
                 New York, NY 10005
Class A-6        Cede & Co.                 $8,60,000                    100%
                 55 Water Street
                 New York, NY 10005
Class A-7        Cede & Co.                 $4,000,000                   100%
                 55 Water Street
                 New York, NY 10005
Class A-R        TFinn & Co.                $100                         100%
                 c/o Chemical Bank
                 P.O. Box 50000
                 Newark, NJ 07101
Class M          TFinn & Co.                $8,600,000                   100%
                 c/o Chemical Bank
                 P.O. Box 50000
                 Newark, NJ 07101
Class B-1        TFinn & Co.                $3,600,000                   100%
                 c/o Chemical Bank
                 P.O. Box 50000
                 Newark, NJ 07101
Class B-2        TFinn & Co.                $1,600,000                   100%
                 c/o Chemical Bank
                 P.O. Box 50000
                 Newark, NJ 07101


Item 13. Certain Relationships and Related Transactions.

                  Omitted.


         PART IV

Item 14. Exhibits, Financial Statement Schedules, and Reports of Form 8-K.

                  (a) The following documents are filed as part of this Annual
                      report on form 10-K:

                     99.1  Report  prepared  by  Servicer's   certified
                           independent  accountant's  concerning the Servicer's
                           activities for the year ended December 31, 1998.
                           

                     99.2
                          (i)      Servicer's Annual Statement of Compliance
                                   for Series 1998-S1
                          (ii)     Servicer's Annual Statement of Compliance
                                   for Series 1998-S2
                          (iii)    Servicer's Annual Statement of Compliance
                                   for Series 1998-S3
                          (iv)     Servicer's Annual Statement of Compliance
                                   for Series 1998-S4
                          (v)      Servicer's Annual Statement of Compliance
                                   for Series 1998-AS1
                          (vi)     Servicer's Annual Statement of Compliance
                                   for Series 1998-S6
                          (vii)    Servicer's Annual Statement of Compliance
                                   for Series 1998-AS2
                          (viii)   Servicer's Annual Statement of Compliance
                                   for Series 1998-S7
                          (ix)     Servicer's Annual Statement of Compliance
                                   for Series 1998-S8

                  (b)  Reports on Form 8-K during the last quarter of the prior
                       calendar year.

                       (i)      Reports on Form 8-K dated as of September  25,
                       1998,  October 25, 1998 and November 25, 1998 in
                       response to Item 5 (other  events) of Form 8-K were
                       filed with  respect to  information  contained  in
                       Distribution  Date Statement for each Series (to the
                       extent such Series had a distribution  in the related
                       month)  delivered for the Distribution Date occurring
                       in September, October and November, 1998, respectively.

                       (ii)     Reports on Form 8-K were filed  during the last
                       quarter of the prior  calendar  year for the  following
                       series:

                           (A)     Series 1998 S-6
                                   October 5, 1998 in response to Item 2
                                   (disposition of assets)
                           (B)     Series 1998-AS2
                                   October 7, 1998 in response to Item 2
                                   (disposition of assets)
                           (C)     Series 1998-7
                                   November 24, 1998 in response to Item 5
                                  (computational materials)
                                   November 24, 1998 in response to Item 5
                                  (opinion of Morgan, Lewis & Bockius)
                                   December 9, 1998 in response to Item 2
                                  (disposition of assets)
                           (D)     Series 1998-S8
                                   December 21, 1998 in response to Item 5
                                  (computational materials)
                                   December 23, 1998 in response to Item 5
                                  (opinion of Morgan, Lewis & Bockius)

                  (c), (d) Omitted.


    SIGNATURES

         Pursuant to the  requirements  of Section 13 or 15(d) of the
Securities  Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned, thereunto duly authorized.

               CHASE MORTGAGE FINANCE CORPORATION      (Registrant)


               By: /s/Luke S. Hayden
               Name: Luke S. Hayden
               Title: Chief Executive Officer



Date:             March 30, 1999

Pursuant to the requirements of the Securities  Exchange Act of 1934, this
report has been signed below by the following  persons on behalf
of the registrant and in the capacities and on the dates indicated.


Date:    March 30, 1999          By:      /s/ Luke S. Hayden
                                 Name:        Luke S. Hayden
                                 Title:       (Chairman)
                                               Chief Executive Officer


Date:    March 30, 1999          By:      /s/ Paul Mullings
                                 Name:        Paul Mullings
                                 Title:       (Director)
                                               President and Chief
                                               Operating Officer


Date:    March 30, 1999          By:      /s/ Michael D. Katz
                                 Name:        Michael D. Katz
                                 Title:       Director


Date:    March 30, 1999          By:      /s/ Catherine Eckert
                                 Name:        Catherine Eckert
                                 Title:       Director


Date:    March 30, 1999          By:    /s/   Stephen Fortunato
                                 Name:        Stephen Fortunato
                                 Title:       Treasurer
                                             (Chief Financial Officer)



SUPPLEMENTAL  INFORMATION  TO BE  FURNISHED  WITH  REPORTS  FILED  PURSUANT  TO
SECTION  15 (d) OF THE ACT BY  REGISTRANTS  WHICH  HAVE NOT REGISTERED
SECURITIES PURSUANT TO SECTION 12 OF THE ACT.

No annual report, proxy statement,  form of proxy or other proxy soliciting
material has been sent to  Certificateholders  during the period covered by
this Annual Report on Form 10-K and the  registrant  does not intend to furnish
such materials to  Certificateholders subsequent to the filing of this report.

<PAGE>
                         INDEX TO EXHIBITS

                  99.1  Report  prepared  by  Servicer's   certified
                        independent  accountant's  concerning the Servicer's
                        activities for the year ended December 31, 1998.

                  99.2  Servicer's Annual Statement of Compliance
     
<PAGE>
                                                                Exhibit 99.1

PricewaterhouseCoopers

______________________________________________________________________________
                      Report of Independent Accountants

                                                     PricewaterhouseCoopers LLP
                                                     650 Third Avenue South
                                                     Park Building
                                                     Suite 1300
                                                     Minneapolis, MN 55402-4333
                                                     Telephone (612) 596-6000
                                                     Facsimile  (612) 373-7160
To the Board of Directors and Stockholder
of Chase Manhattan Mortgage corporation:


We have examined  management's  assertion  about Chase Manhattan  Mortgage
Corporation's  (the "Company")  compliance with the minimum servicing standards
("standards")  identified in the Mortgage Bankers Association of America's
Uniform Single Attestation Program for Mortgage  Bankers  ("USAP") as of and
for the year ended  December 31, 1998  included in the accompanying  management
assertion  (see Exhibit I). The Company  performs loan  subservicing  functions
for the residential  loan  servicing  portfolio of Chemical  Mortgage Company.
Management is responsible for the Company's  compliance with those minimum
servicing  standards.  Our  responsibility  is to express an opinion on
management's assertion about the entity's compliance based on our examination.

Our  examination was made in accordance  with standards  established by the
American  Institute of Certified Public  Accountants and, accordingly, included
examining,  on a test basis,  evidence about the company's  compliance with the
standards and performing such other  procedures as we considered  necessary in
the  circumstances.  We believe that our examination  provides a reasonable
basis for our opinion.  Our examination does not provide a legal determination
on the Company's compliance with the standards.

In our  opinion,  management's  assertion  that the Company  complied  with the
aforementioned  standards as of and for the year ended December 31,1998 is
fairly stated, in all material respects.


PricewaterhouseCoopers LLP


<PAGE>


                                                           [GRAPHIC OMITTED]


Chase Manhattan Mortgage Corporation
3415 Vision Drive
Columbus OH  43219

                                                                    Exhibit I


                     Management's Assertion Concerning Compliance
                        with USAP Minimum Servicing Standards


March 5, 1999

As of and for the year ended December 31, 1998, Chase Manhattan Mortgage
Corporation ("CMMC') and Chase Mortgage Company ("CMC") and their subsidiaries
(collectively, the "Group") have complied in all material respects with the
minimum servicing standards (the "Standards") set forth in the Mortgage Bankers
Association of America's Uniform Single Attestation Program for Mortgage
Bankers ("USAP").

As noted in our assertion dated March 26, 1998, certain CMMC's custodial
accounts and related bank clearing accounts were not being consistently
reconciled within 45 days.  In addition, a significant number and dollar amount
of reconciling items documented on the reconciliations were not being resolved
within 90 days after identification. These instances of noncompliance have been
remedied and procedural and operational enhancements have been implemented
during 1998 and reconciliations since this time have been completed within the
45 day minimum standard with reconciling items being resolved within 90 days of
identification.

As of and for this same period, the Group had in effect fidelity bond and
errors and omissions policy in the amounts of $250,000,000 and $25,000,000
respectively.





 /s/ Thomas Jacobs
     Thomas Jacob
     Chief Executive Officer





 /s/ Patrick Coon
     Patrick Coon
     Executive Vice President of Servicing

<PAGE>

Chase Manhattan Mortgage Corporation
March 5, 1999
Page 2

 /s/ Glenn Mouridy
     Glenn Mouridy
     Executive Vice President and Chief Financial Officer



 /s/ Lucy Gambino
     Lucy Gambino
     Vice President of Risk Management



<PAGE>

                                                                Exhibit 99.2(i)

Chase Manhattan Mortgage Corporation
3415 Vision Drive
Columbus, OH  43219
1-800-848-9136 Customer Service
1-800-582-0542 TDD / Text Telephone


                              OFFICER'S CERTIFICATE
                      CHASE MANHATTAN MORTGAGE CORPORATION
                     MORTGAGE PASS THROUGH CERTIFICATE 1998-S1


Pursuant  to Section  5.25 of the Pooling and  Servicing  Agreement  between
Chase  Mortgage  Finance  Corporation,  Depositor,  Chase Manhattan  Mortgage
Corporation,  Servicer and Citibank N.A.,  Trustee.  Chase  Manhattan  Mortgage
Corporation  hereby  provides the following Officers' Certificate:

(i)    A review of the  activities of the Master  Servicer  during the
preceding  calendar  year and of  performance  under the related Pooling and
Servicing Agreement has been made; and

(ii)   to the best of such Servicing  Officer's  knowledge,  based on such
review, the Servicer has performed and fulfilled its duties, responsibilities
and obligations under this Agreement in all material  respects  throughout such
year, or, if there has been a default in the fulfillment of any such duties,
responsibilities  or obligations, specifying each such default known to such
Servicing Officer and the nature and status thereof.



/s/    Lucy P. Gambino                               /s/    Susan Christman     
Name:  Lucy P. Gambino                               Name:  Susan Christman
Title: Vice President                                Title: Assistant Treasurer



Certified March 12, 1999

<PAGE>
                                                               Exhibit 99.2(ii)

Chase Manhattan Mortgage Corporation
3415 Vision Drive
Columbus, OH  43219
1-800-848-9136 Customer Service
1-800-582-0542 TDD / Text Telephone


                              OFFICER'S CERTIFICATE
                      CHASE MANHATTAN MORTGAGE CORPORATION
                   MORTGAGE PASS THROUGH CERTIFICATE 1998-S2


Pursuant  to Section  5.25 of the Pooling and  Servicing  Agreement  between
Chase  Mortgage  Finance  Corporation,  Depositor,  Chase Manhattan  Mortgage
Corporation,  Servicer and Citibank N.A.,  Trustee.  Chase  Manhattan  Mortgage
Corporation  hereby  provides the following Officers' Certificate:

(i)    A review of the  activities of the Master  Servicer  during the
preceding  calendar  year and of  performance  under the related
Pooling and Servicing Agreement has been made; and

(ii)   to the best of such Servicing  Officer's  knowledge,  based on such
review, the Servicer has performed and fulfilled its duties, responsibilities
and obligations under this Agreement in all material  respects  throughout such
year, or, if there has been a default in the fulfillment of any such duties,
responsibilities  or obligations,  specifying each such default known to such
Servicing Officer and the nature and status thereof.



   /s/ Lucy P. Gambino                                  /s/ Susan Christman     
Name:  Lucy P. Gambino                             Name:  Susan Christman
Title: Vice President                              Title: Assistant Treasurer



Certified March 12, 1999


<PAGE>

                                                              Exhibit 99.2(iii)

Chase Manhattan Mortgage Corporation
3415 Vision Drive
Columbus, OH  43219
1-800-848-9136 Customer Service
1-800-582-0542 TDD / Text Telephone


                            OFFICER'S CERTIFICATE
                    CHASE MANHATTAN MORTGAGE CORPORATION
                 MORTGAGE PASS THROUGH CERTIFICATE 1998-S3


Pursuant  to Section  5.25 of the Pooling and  Servicing  Agreement  between
Chase  Mortgage  Finance  Corporation,  Depositor,  Chase Manhattan  Mortgage
Corporation,  Servicer and Citibank N.A.,  Trustee.  Chase  Manhattan  Mortgage
Corporation  hereby  provides the following Officers' Certificate:

(i)    A review of the  activities of the Master  Servicer  during the
preceding  calendar  year and of  performance  under the related Pooling and
Servicing Agreement has been made; and 

(ii)   to the best of such Servicing  Officer's  knowledge,  based on such
review, the Servicer has performed and fulfilled its duties, responsibilities
and obligations under this Agreement in all material  respects  throughout such
year, or, if there has been a default in the fulfillment of any such duties,
responsibilities  or obligations,  specifying each such default known to such
Servicing Officer and the nature and status thereof.



 /s/  Lucy P. Gambino                               /s/   Susan Christman       
Name:  Lucy P. Gambino                              Name:  Susan Christman
Title: Vice President                               Title: Assistant Treasurer



Certified March 12, 1999

<PAGE>

                                                                Exhibit 99.2(iv)

Chase Manhattan Mortgage Corporation
3415 Vision Drive
Columbus, OH  43219
1-800-848-9136 Customer Service
1-800-582-0542 TDD / Text Telephone


                                OFFICER'S CERTIFICATE
                        CHASE MANHATTAN MORTGAGE CORPORATION
                     MORTGAGE PASS THROUGH CERTIFICATE 1998-S4


Pursuant  to Section  5.25 of the Pooling and  Servicing  Agreement  between
Chase  Mortgage  Finance  Corporation,  Depositor,  Chase Manhattan  Mortgage
Corporation,  Servicer and Citibank N.A.,  Trustee.  Chase  Manhattan  Mortgage
Corporation  hereby  provides the following Officers' Certificate:

(i)    A review of the  activities of the Master  Servicer  during the
preceding  calendar  year and of  performance  under the related Pooling and
Servicing Agreement has been made; and

(ii)   to the best of such Servicing  Officer's  knowledge,  based on such
review, the Servicer has performed and fulfilled its duties, responsibilities
and obligations under this Agreement in all material  respects  throughout
such year, or, if there has been a default in the fulfillment of any such
duties,  responsibilities  or obligations,  specifying each such default known
to such Servicing Officer and the nature and status thereof.



/s/  Lucy P. Gambino                                 /s/   Susan Christman      
Name:  Lucy P. Gambino                              Name:  Susan Christman
Title: Vice President                               Title: Assistant Treasurer



Certified March 12, 1999


<PAGE>

                                                                 Exhibit 99.2(v)

Chase Manhattan Mortgage Corporation
3415 Vision Drive
Columbus, OH  43219
1-800-848-9136 Customer Service
1-800-582-0542 TDD / Text Telephone


                                 OFFICER'S CERTIFICATE
                         CHASE MANHATTAN MORTGAGE CORPORATION
                      MORTGAGE PASS THROUGH CERTIFICATE 1998-AS1


Pursuant  to Section  5.25 of the Pooling and  Servicing  Agreement, dated
July 1, 1998 Chase  Mortgage  Finance  Corporation,  Depositor, Chase Manhattan
Mortgage Corporation,  Servicer and Citibank N.A., Trustee.  Chase  Manhattan
Mortgage Corporation  hereby  provides the following Officers' Certificate:

(i)    A review of the  activities of the Master  Servicer  during the
preceding  calendar  year and of  performance  under the related Pooling and
Servicing Agreement has been made; and

(ii)   to the best of such Servicing  Officer's  knowledge,  based on such
review, the Servicer has performed and fulfilled its duties, responsibilities
and obligations under this Agreement in all material  respects  throughout such
year, or, if there has been a default in the fulfillment of any such duties,
responsibilities  or obligations,  specifying each such default known to such
Servicing Officer and the nature and status thereof.



/s/  Lucy P. Gambino                                /s/  Susan Christman       
Name:  Lucy P. Gambino                              Name:  Susan Christman
Title: Vice President                               Title: Assistant Treasurer



Certified March 12, 1999

<PAGE>

                                                               Exhibit 99.2(vi)

Chase Manhattan Mortgage Corporation
3415 Vision Drive
Columbus, OH  43219
1-800-848-9136 Customer Service
1-800-582-0542 TDD / Text Telephone


                                 OFFICER'S CERTIFICATE
                         CHASE MANHATTAN MORTGAGE CORPORATION
                      MORTGAGE PASS THROUGH CERTIFICATE 1998-S6


Pursuant  to Section  5.25 of the Pooling and  Servicing  Agreement  between
Chase  Mortgage  Finance  Corporation,  Depositor,  Chase Manhattan  Mortgage
Corporation,  Servicer and Citibank N.A.,  Trustee.  Chase  Manhattan  Mortgage
Corporation  hereby  provides the following Officers' Certificate:

(i)    A review of the  activities of the Master  Servicer  during the
preceding  calendar  year and of  performance  under the related Pooling and
Servicing Agreement has been made; and

(ii)   to the best of such Servicing  Officer's  knowledge,  based on such
review, the Servicer has performed and fulfilled its duties,
responsibilities  and obligations under this Agreement in all material
respects  throughout such year, or, if there has been a default in the
fulfillment of any such duties,  responsibilities  or obligations,  specifying
each such default known to such Servicing Officer and the nature and status
thereof.



/s/  Lucy P. Gambino                               /s/  Susan Christman        
Name:  Lucy P. Gambino                             Name:  Susan Christman
Title: Vice President                              Title: Assistant Treasurer



Certified March 12, 1999


<PAGE>

                                                              Exhibit 99.2(vii)

Chase Manhattan Mortgage Corporation
3415 Vision Drive
Columbus, OH  43219
1-800-848-9136 Customer Service
1-800-582-0542 TDD / Text Telephone


                               OFFICER'S CERTIFICATE
                       CHASE MANHATTAN MORTGAGE CORPORATION
                    MORTGAGE PASS THROUGH CERTIFICATE 1998-AS2


Pursuant  to Section  5.25 of the Pooling and  Servicing  Agreement Chase
Manhattan  Mortgage Corporation  hereby  provides the following Officers'
Certificate:

(i)    A review of the  activities of the Master  Servicer  during the
preceding  calendar  year and of  performance  under the related Pooling
and Servicing Agreement has been made; and

(ii)   to the best of such Servicing  Officer's  knowledge,  based on such
review, the Servicer has performed and fulfilled its duties, responsibilities
and obligations under this Agreement in all material  respects  throughout
such year, or, if there has been a default in the fulfillment of any such
duties,  responsibilities  or obligations,  specifying each such default known
to such Servicing Officer and the nature and status thereof.



/s/  Lucy P. Gambino                                 /s/   Susan Christman     
Name:  Lucy P. Gambino                               Name:  Susan Christman
Title: Vice President                                Title: Assistant Treasurer



Certified March 12, 1999

<PAGE>

                                                              Exhibit 99.2(viii)

Chase Manhattan Mortgage Corporation
3415 Vision Drive
Columbus, OH  43219
1-800-848-9136 Customer Service
1-800-582-0542 TDD / Text Telephone


                            OFFICER'S CERTIFICATE
                     CHASE MANHATTAN MORTGAGE CORPORATION
                  MORTGAGE PASS THROUGH CERTIFICATE 1998-S7


Pursuant  to Section  5.25 of the Pooling and  Servicing  Agreement  between
Chase  Mortgage  Finance  Corporation,  Depositor,  Chase Manhattan  Mortgage
Corporation,  Servicer and Citibank N.A.,  Trustee.  Chase  Manhattan  Mortgage
Corporation  hereby  provides the following Officers' Certificate:

(i)    A review of the  activities of the Master  Servicer  during the
preceding  calendar  year and of  performance  under the related Pooling and
Servicing Agreement has been made; and

(ii)   to the best of such Servicing  Officer's  knowledge,  based on such
review, the Servicer has performed and fulfilled its duties, responsibilities
and obligations under this Agreement in all material  respects  throughout such
year, or, if there has been a default in the fulfillment of any such duties,
responsibilities  or obligations,  specifying each such default known to such
Servicing Officer and the nature and status thereof.



/s/  Lucy P. Gambino                                /s/  Susan Christman      
Name:  Lucy P. Gambino                             Name:  Susan Christman
Title: Vice President                              Title: Assistant Treasurer



Certified March 12, 1999


<PAGE>

                                                                Exhibit 99.2(x)

Chase Manhattan Mortgage Corporation
3415 Vision Drive
Columbus, OH  43219
1-800-848-9136 Customer Service
1-800-582-0542 TDD / Text Telephone


                                OFFICER'S CERTIFICATE
                        CHASE MANHATTAN MORTGAGE CORPORATION
                     MORTGAGE PASS THROUGH CERTIFICATE 1998-S8


Pursuant  to Section  5.25 of the Pooling and  Servicing  Agreement  between
Chase  Mortgage  Finance  Corporation,  Depositor,  Chase Manhattan  Mortgage
Corporation,  Servicer and Citibank N.A.,  Trustee.  Chase  Manhattan  Mortgage
Corporation  hereby  provides the following Officers' Certificate:

(i)    A review of the  activities of the Master  Servicer  during the
preceding  calendar  year and of  performance  under the related Pooling and
Servicing Agreement has been made; and

(ii)   to the best of such Servicing  Officer's  knowledge,  based on such
review, the Servicer has performed and fulfilled its duties, responsibilities
and obligations under this Agreement in all material  respects  throughout such
year, or, if there has been a default in the fulfillment of any such duties,
responsibilities  or obligations,  specifying each such default known to such
Servicing Officer and the nature and status thereof.


/s/  Lucy P. Gambino                               /s/   Susan Christman        
Name:  Lucy P. Gambino                             Name:  Susan Christman
Title: Vice President                              Title: Assistant Treasurer



Certified March 12, 1999