ChaseFlex Trust Series 2005-2
Not Applicable.
None.
Information regarding the mortgaged properties is included in the Annual Statement of Compliance filed under Item 8 and Item 15 hereof.
The registrant knows of no material pending legal proceedings with respect to the Trust Fund for any Series, involving the registrant, Wachovia, N.A. (the "Trustee") or JPMorgan Chase Bank, National Association (the "Servicer"), other than ordinary routine litigation incidental to duties of the registrant, Trustee or the Servicer under the Pooling and Servicing Agreement among Chase Mortgage Finance Corporation, JPMorgan Chase Bank, National Association and Wachovia, N.A., dated as of May 1, 2005, for Multi-Class Mortgage Pass-Through Certificates, Series 2005-2.
No matter was submitted to a vote of Security Holders for any Series during the fiscal year covered by this report.                                        PART II
(a)   (1)   To the knowledge of the registrant, there is no established                   public market for the Certificates of any Series.              (2)   To the knowledge of the registrant, there are no reported high                   and low bid quotations for any of the Certificates.        (b)   The records of the registrant indicate that as of December 31, 2005,             Series 2005-2 had 82 holders of record.
Not Applicable.
Not Applicable.
Not Applicable.
In accordance with the Exemption Orders, the Annual Statement of Compliance and the Annual Independent Accountant's Reports for the Certificates for each Series are included herein as Exhibit 99.1 and Exhibit 99.2, respectively.
None.
Not Applicable.
None.                                          PART III
Not Applicable.
Not Applicable.
The records of the Depository Trust Company ("DTC") indicate that as of December 31, 2005, there were the following holders of record with more than 5% of each class of Certificates:    - ---------------------------------------------------------------------------------------------------------------------------- ChaseFlex Trust, Series 2005-2      Name & Address of Participant                   Original Certificate         % of Class                                                                                     Principal Balance - ----------------------------------------------------------------------------------------------------------------------------     Class IA1                           00000902 JPMorgan Chase Bank, National          $100,497,218.00                  74.49%                                     Association                                     Proxy Services                                     14201 Dallas Parkway STE 121                                     Dallas, TX 75254 - ----------------------------------------------------------------------------------------------------------------------------                                     00002975 Bank One RET                            $25,000,000.00                  18.53%                                     340 South Cleveland                                     Building 350                                     Columbus, OH  43240 - ---------------------------------------------------------------------------------------------------------------------------- Class IA2                           00002280 BNY/Wachovia                           $101,424,250.00                100.00%                                     One Wall Street, 5th Floor                                     New York, NY  10286 - ---------------------------------------------------------------------------------------------------------------------------- Class IIA1                          00002296 FA MA INVT                              $42,620,442.00                 100.00%                                     3900 Wisconsin Ave NW                                     Washington, DC  20016 - ---------------------------------------------------------------------------------------------------------------------------- Class IIA2                          00002146 AMERI TR                                $ 7,100,000.00                  67.27%                                     929 AXP Financial Center                                     Minneapolis, MN  55474 - ----------------------------------------------------------------------------------------------------------------------------                                     00002803 U.S. Bank N.A.                          $ 3,453,833.00                  32.73%                                     Attn: Securities Control                                     1555 N. Rivercenter Drive Ste 0300                                     Milwaukee, WI  53212 - ---------------------------------------------------------------------------------------------------------------------------- Class IIIA1                         00000901 The Bank of New York                    $11,500,000.00                 100.00%                                     One Wall Street, 6th Floor                                     New York,  NY 10286 - ---------------------------------------------------------------------------------------------------------------------------- Class IIIA2                         00007253 FORTIS LLC                              $64,597,881.00                  66.87%                                     520 Madison Avenue                                     New York, NY 10022 - ----------------------------------------------------------------------------------------------------------------------------                                     00002196 BONY/BARCL                              $30,000,000.00                  31.06%                                     One Wall Street                                     New York, NY  10286 - ---------------------------------------------------------------------------------------------------------------------------- Class IIIA3                         00000187 J.P. Morgan Securities Inc. - Fixed     $76,597,881.00                  79.30%                                     Income                                     34 Exchange Place, 4th Floor                                     Jersey City,  NJ 07302 - ----------------------------------------------------------------------------------------------------------------------------     - ----------------------------------------------------------------------------------------------------------------------------                                         00000141 FRST CLEAR                              $20,000,000.00                  20.70%                                     10700 Whear First Drive, WS 1195                                     Glen Allen, VA  23060 - ---------------------------------------------------------------------------------------------------------------------------- Class IIIA4                         00000187 J.P. Morgan Securities Inc. - Fixed     $17,656,544.00                 100.00%                                     Income                                     34 Exchange Place, 4th Floor                                     Jersey City,  NJ 07302 - ---------------------------------------------------------------------------------------------------------------------------- Class IVA1                          00000901 The Bank of New York                    $ 9,620,000.00                  36.60%                                     One Wall Street, 6th Floor                                     New York,  NY 10286 - ----------------------------------------------------------------------------------------------------------------------------                                     00002609 BK ONE ST                               $ 7,042,407.00                  26.80%                                     340 South Cleveland Ave                                     Building 350                                     Columbus,  OH 43240 - ----------------------------------------------------------------------------------------------------------------------------                                     00000997 State Street Bank and Trust Company     $ 4,115,000.00                  15.66%                                     1776 Heritage Drive                                     North Quincy,  MA 02171 - ----------------------------------------------------------------------------------------------------------------------------                                     00000954 Mellon Trust of New England, NA         $ 3,200,000.00                  12.18%                                     525 William Penn Place, Suite 3418                                     Pittsburgh, PA 15259 - ----------------------------------------------------------------------------------------------------------------------------                                     00002212 Investors Bank & Trust Company          $ 1,605,000.00                   6.11%                                     200 Clarendon Street 9th Floor                                     Corporate Actions Unit/TOP57                                     Boston, MA 02116 - ---------------------------------------------------------------------------------------------------------------------------- Class IVA2                          00000997 State Street Bank and Trust Company     $18,275,000.00                  35.29%                                     1776 Heritage Drive                                     North Quincy,  MA 02171 - ----------------------------------------------------------------------------------------------------------------------------                                     00000901 The Bank of New York                    $16,385,223.00                  31.64%                                     One Wall Street, 6th Floor                                     New York,  NY 10286 - ----------------------------------------------------------------------------------------------------------------------------                                     00002669 Northern Trust Company                  $ 9,925,000.00                  19.17%                                     801 S. Canal C-IN                                     Chicago, IL 60607 - ----------------------------------------------------------------------------------------------------------------------------                                     00000902 JPMorgan Chase Bank, National           $ 5,895,000.00                  11.38%                                     Association                                     Proxy Services                                     14201 Dallas Parkway STE 121                                     Dallas, TX 75254 - ---------------------------------------------------------------------------------------------------------------------------- Class IVA3                          00000997 State Street Bank and Trust Company     $10,014,139.00                  51.03%                                     1776 Heritage Drive                                     North Quincy,  MA 02171 - ----------------------------------------------------------------------------------------------------------------------------                                     00002205 Keybank National Association            $ 7,846,000.00                  39.98%                                     4900 Tiedeman Road                                     Brooklyn, OH  44144 - ----------------------------------------------------------------------------------------------------------------------------                                     00000902 JPMorgan Chase Bank, National           $ 1,147,000.00                   5.84%                                     Association                                     Proxy Services                                     14201 Dallas Parkway STE 121                                     Dallas, TX 75254 - ---------------------------------------------------------------------------------------------------------------------------- Class VA1                           00000908 Citibank, N.A.                          $11,500,000.00                 100.00%                                     3800 Citibank Center B3-15                                     Tampa, FL 33610 - ----------------------------------------------------------------------------------------------------------------------------     - ----------------------------------------------------------------------------------------------------------------------------     Class VA2                           00000901 The Bank of New York                    $22,408,100.00                  69.14%                                     One Wall Street, 6th Floor                                     New York,  NY 10286 - ----------------------------------------------------------------------------------------------------------------------------                                     00000702  Scott & Str                            $ 6,000,000.00                  18.51%                                     7401 Beaufont Springs Drive, Suite 401                                     Richmond, VA  23225 - ----------------------------------------------------------------------------------------------------------------------------                                     00000929 WACHO BKNA                              $ 2,000,000.00                   6.17%                                     40 Broad Street, 5th Floor                                     New York, NY 10004 - ----------------------------------------------------------------------------------------------------------------------------                                     00000902 JPMorgan Chase Bank, National           $ 2,000,000.00                   6.17%                                     Association                                     Proxy Services                                     14201 Dallas Parkway STE 121                                     Dallas, TX 75254 - ---------------------------------------------------------------------------------------------------------------------------- Class VA3                           00002669 Northern Trust Company                  $ 3,740,000.00                  30.61%                                     801 S. Canal C-IN                                     Chicago, IL 60607 - ----------------------------------------------------------------------------------------------------------------------------                                     00000902 JPMorgan Chase Bank, National           $ 3,240,000.00                  26.52%                                     Association                                     Proxy Services                                     14201 Dallas Parkway STE 121                                     Dallas, TX 75254 - -----------------------------------------------------------------------------------------------------------------------------                                     00002940 BONY/VINN                               $ 3,218,900.00                  26.34%                                     6077 Pimacy Parkway                                     Memphis, TN  38119 - ----------------------------------------------------------------------------------------------------------------------------                                     00000010 Brown Brothers Harriman & Co.           $ 1,000,000.00                   8.18%                                     525 Washington Blvd.                                     New Port Towers                                     Jersey City, NJ 07302 - ---------------------------------------------------------------------------------------------------------------------------- Class VA4                           00000955 Bank of America, National Association   $10,605,000.00                  48.40%                                     411 N. Akard, 5th Floor                                     Dallas, TX 75201 - ----------------------------------------------------------------------------------------------------------------------------                                     00000997 State Street Bank and Trust Company     $ 5,097,900.00                  23.26%                                     1776 Heritage Drive                                     North Quincy,  MA 02171 - ----------------------------------------------------------------------------------------------------------------------------                                     00000187 J.P. Morgan Securities Inc. - Fixed     $ 4,000,000.00                  18.25%                                     Income                                     34 Exchange Place, 4th Floor                                     Jersey City,  NJ 07302 - ---------------------------------------------------------------------------------------------------------------------------- Class VA5                           00000187 J.P. Morgan Securities Inc. - Fixed     $20,493,100.00                 100.00%                                     Income                                     34 Exchange Place, 4th Floor                                     Jersey City,  NJ 07302 - ---------------------------------------------------------------------------------------------------------------------------- Class VA6                           00000902 JPMorgan Chase Bank, National           $ 6,014,000.00                 100.00%                                     Association                                     Proxy Services                                     14201 Dallas Parkway STE 121                                     Dallas, TX 75254 - ---------------------------------------------------------------------------------------------------------------------------- Class VA7                           00000793 Stifel                                  $ 1,000,000.00                  37.01%                                     501 N. Broadway, 7th Floor                                     Stock Record Dept,                                     St. Louis, MO  63102 - ----------------------------------------------------------------------------------------------------------------------------     - ----------------------------------------------------------------------------------------------------------------------------                                         00000756 H&R Block                               $  621,135.00                   22.99%                                     751 Griswold Street                                     Detroit, MI  48226 - ----------------------------------------------------------------------------------------------------------------------------                                     00008105 JA GLYNN                                $  385,000.00                   14.25%                                     C/O ADP Proxy Services                                     51 Mercedes Way                                     Edgewood, NY  11717 - ----------------------------------------------------------------------------------------------------------------------------                                     00000443 PERSHING                                $  331,000.00                   12.25%                                     Securities Corporation                                     1 Pershing Plaza                                     Jersey City, NJ 07399 - ----------------------------------------------------------------------------------------------------------------------------                                     00000235 RBC DAIN                                $  165,000.00                    6.11%                                     510 Marquette Ave South                                     Minneapolis, MN  55402 - ---------------------------------------------------------------------------------------------------------------------------- Class VA8                           00000352 Bear Stearns Securities Corp.           $   546,727.00                 100.00%                                     One Metrotech Center North, 4th Floor                                     Brooklyn, NY 11201-3862 - ---------------------------------------------------------------------------------------------------------------------------- Class AP                            00000187 J.P. Morgan Securities Inc. - Fixed     $   465,566.00                 100.00%                                     Income                                     34 Exchange Place, 4th Floor                                     Jersey City,  NJ 07302 - ---------------------------------------------------------------------------------------------------------------------------- Class AX                            00000187 J.P. Morgan Securities Inc. - Fixed     $ 1,141,826.00                 100.00%                                     Income                                     34 Exchange Place, 4th Floor                                     Jersey City,  NJ 07302 - ---------------------------------------------------------------------------------------------------------------------------- Class M                             00002116 The Fifth Third Bank                    $ 9,125,000.00                  59.28%                                     38 Fountain Square Plaza                                     Mail Drop 1090F1                                     Cincinnati, OH  45263 - ----------------------------------------------------------------------------------------------------------------------------                                     00000901 The Bank of New York                    $ 5,000,000.00                  32.48%                                     One Wall Street, 6th Floor                                     New York,  NY 10286 - ---------------------------------------------------------------------------------------------------------------------------- Class B1                            00000901 The Bank of New York                    $ 6,550,000.00                 100.00%                                     One Wall Street, 6th Floor                                     New York,  NY 10286 - ---------------------------------------------------------------------------------------------------------------------------- Class B2                            00000187 J.P. Morgan Securities Inc. - Fixed     $ 3,931,000.00                 100.00%                                     Income                                     34 Exchange Place, 4th Floor                                     Jersey City,  NJ 07302 - ----------------------------------------------------------------------------------------------------------------------------
Not Applicable.
Not Applicable.                                         PART IV
(a)   The following documents are filed as part of this Annual Report on             Form 10-K.              (3)  Exhibit Number              Description                  --------------              -----------              31.1  Certification pursuant to Section 302 of the Sarbanes-Oxley                   Act of 2002.              99.1  Report prepared by the Servicer's certified independent                   accountants concerning the Servicer's activities for the                   year-end December 31, 2005.              99.2  Servicer's Annual Statement of Compliance.        (b)   See item 15(a)(3) above.        (c)   Not Applicable.                                        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,              depositor               By:  /s/ Jerome A. Cipponeri              ---------------------------------              Name: Jerome A. Cipponeri               Title:  President   Date:    March 27, 2006        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.                                        INDEX TO EXHIBITS              Exhibit Number            Description             --------------            -----------              31.1  Certification pursuant to Section 302 of the Sarbanes-Oxley                   Act of 2002.              99.1  Report prepared by the Servicer's certified independent                   accountants concerning the Servicer's activities for the                   year-end December 31, 2005.              99.2  Servicer's Annual Statement of Compliance.          EX-31.1 2 ex_31-1.txt                                                                       Exhibit 31.1                                    CERTIFICATION                         Chase Mortgage Finance Corporation,                        Mortgage Pass-Through Certificates                            Series 2005-2 (the "Trust")  I, Jerome A. Cipponeri,  President of Chase Mortgage  Finance  Corporation,  the depositor of assets into the above-referenced Trust, certify that:  1.    I have reviewed  this annual report on Form 10-K,  and all reports on Form       8-K  containing  distribution  or  servicing  reports  filed in respect of       periods included in the year covered by this annual report, of the Trust;  2.    Based on my knowledge, the information in these reports, taken as a whole,       does not contain any untrue  statement of a material fact or omit to state       a material  fact  necessary to make the  statements  made, in light of the       circumstances  under which such statements were made, not misleading as of       the last day of the period covered by this annual report;  3.    Based on my knowledge,  the distribution or servicing information required       to be  provided  to the  trustee by the  servicer  under the  pooling  and       servicing  agreement  for  inclusion in these reports is included in these       reports;  4.    Based on my knowledge and upon the annual compliance statement included in       this  annual  report  and  required  to be  delivered  to the  trustee  in       accordance  with the terms of the pooling  and  servicing  agreement,  and       except as disclosed in this annual report,  the servicer has fulfilled its       obligations under the pooling and servicing agreement; and  5.    The  reports  disclose  all  significant   deficiencies  relating  to  the       servicer's  compliance with the minimum servicing standards based upon the       report provided by an independent  public  accountant,  after conducting a       review in  compliance  with the  Uniform  Single  Attestation  Program for       Mortgage  Bankers or similar  procedure,  as set forth in the  pooling and       servicing agreement, that is included in these reports.   Date:    March 27, 2006            /s/ Jerome A. Cipponeri - -------------------------------------------- Name:    Jerome A. Cipponeri Title:   President Company:  Chase Mortgage Finance Corporation          EX-99.1 3 ex_99-1.txt                                                                       Exhibit 99.1  [PriceWaterhouseCoopers Letterhead]                                                     PriceWaterhouseCoopers LLP                                                    PriceWaterhouseCoopers Center                                                    300 Madison Avenue                                                    New York NY 10017                                                    Telephone 646 471 3000                                                    Facsimile (813) 286 6000                            Report of Independent Auditors   To the Board of Directors and Stockholder of JPMorgan Chase Bank, National Association:   We have examined  management's  assertion  about JPMorgan  Chase Bank,  National Association  (the  "Company")  compliance with the minimum  servicing  standards identified  in the Mortgage  Bankers  Association  of America's  Uniform  Single Attestation  Program  for  Mortgage  Bankers  ("USAP")  solely as they relate to standard VII, Insurance Policies (the "Applicable Standard"),  as of and for the year ended December 31, 2005 included in the accompanying  management assertion. Management is  responsible  for the  Company's  compliance  with the  Applicable Standard.  Our responsibility is to express an opinion on management's assertion about the Company's compliance,  solely as it relates to the Applicable Standard based on our examination. The Company uses subservicing organizations to perform the servicing  obligations  subject to minimum servicing standards I-VI of USAP. We did not examine the  Company's  compliance  with  standard  I-VI of USAP and, accordingly, do not express an opinion theron.  Our examination was made in accordance with attestation 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  Applicable  Standard  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 Applicable Standard.  In our  opinion,  management's  assertion  that the  Company  complied  with the Applicable Standard solely as it relate to standard VII, Insurance Policies,  as of and for the year ended  December 31, 2005 is fairly  stated,  in all material respects.   /s/PriceWaterhouseCoopers LLP  March 13, 2006                                            [CHASE LOGO]                      Management's Assertion Concerning Compliance                       with USAP Minimum Servicing Standards   March 13, 2006   As of and for the year ended December 31, 2005,  JPMorgan  Chase Bank,  National Association  (the  "Company")  has  complied in all material  respects  with the minimum  servicing  standards set forth in the Mortgage  Bankers  Association of America's  Uniform  Single  Attestation  Program for Mortgage  Bankers  ("USAP") solely as they relate to  standard  VII,  Insurance  Policies  (the  "Applicable Standard"). The Company uses subservicing organizations to perform the servicing obligations subject to minimum servicing standards I-VI of USAP.  As of and for this same  period,  the  Company had in effect  fidelity  bond and errors and omissions  policies in the amounts of  $250,000,000  and  $25,000,000 respectively.  Attached to this Management  Assertion are the independent  auditors' reports on the subservicing  organizations' compliance with the minumum servicing standards related to the servicing obligations performed.      /s/ Kim Greaves                             /s/ Jim Miller - -------------------------                   ------------------------------------ Kim Greaves                                 Jim Miller Vice President                              Vice President JPMorgan Chase Bank,                        JPMorgan Chase Bank, National Association                        National Association  /s/ Scott Powell - ------------------------- Scott Powell Senior Vice President JPMorgan Chase Bank, National Association       EX-99.2 4 ex_99-2.txt                                                                         Exhibit 99.2                                    [CHASE LOGO]                            ANNUAL STATEMENT OF COMPLIANCE   Pursuant to the servicing  agreement,  the undersigned  Officer,  to the best of his/her knowledge, hereby certifies to the following:  I have reviewed the activities and  performance of the Servicer and,  during the preceding  fiscal  year  under  the  terms  of the  Servicing  Agreement,  Trust Agreement,  Pooling and Servicing Agreement and/or  Seller/Servicer Guide and to the best of the Officer's knowledge,  the Servicer has fulfilled all its duties, responsibilities or obligations under these Agreements throughout such year.        a)    All property inspections have been completed.        b)    Compliance relative to Adjustable Rate Mortgages has been met.        c)    Compliance with IRS Foreclosure reporting regulations enacted as IRS             Section  6060J by the  Deficit  Reduction  Act,  regarding  Acquired             and/or Abandonment property have been completed.        d)    All loans serviced in states that have statutes requiring payment of             interest on escrow/impound accounts have been completed.        e)    That such Officer has confirmed  that the Fidelity  Bond, the Errors             and Omissions  Insurance  Policy and any other bonds  required under             the terms of the Servicing Agreement are in full force and effect.        f)    Enclosed is a copy of our most recent independent audit statement.      CERTIFIED BY:         /s/ Kim Greaves                    Date: March 13, 2006                       ----------------------                   -----------------     Kim Greaves                       Senior Vice President                       Chase Home Finance LLC                        /s/ Jim Miller                      Date: March 13, 2006                      -----------------------                   -----------------                      Jim Miller                      Senior Vice President                      Chase Home Finance LLC         SEE EXHIBIT 99.1 FOR MOST RECENT INDEPENDENT AUDIT STATEMENT      -----END PRIVACY-ENHANCED MESSAGE-----