UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 25, 2005

                               CHASE FUNDING, INC.
            (formerly known as "Chemical Mortgage Securities, Inc.")
            ---------------------------------------------------------
             (Exact name of registrant as specified in its charter)

                                      333-64131
                                      333-89425
                                      333-68848
         New York                     333-106428            13-3436103
 ---------------------------          ----------           -------------
(State or other jurisdiction         (Commission           (IRS Employer
     of incorporation)               File Number)        Identification No.)


    343 Thornall Street, Edison, NJ              08837
 --------------------------------------         --------
(Address of principal executive offices)       (Zip Code)

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


 ------------------------------------------------------------
(Former name or former address, if changed since last report.)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))
<PAGE>

Section 8 - Other Events

Item 8.01 Other Events.

On or about February 25, 2005, Chase Funding,  Inc. (the  "Depositor")  made the
distributions  to  holders  of its  Chase  Funding  Mortgage  Loan  Asset-Backed
Certificates, Series 1999-1, Series 1999-2, Series 1999-3, Series 1999-4, Series
2000-1,  Series 2000-2,  Series 2000-3,  Series  2001-1,  Series 2001-2,  Series
2001-3,  Series 2001-4,  Series 2002-1,  Series  2002-2,  Series 2002-3,  Series
2002-4,  Series 2003-1,  Series 2003-2,  Series  2003-3,  Series 2003-4,  Series
2003-5,  Series  2003-6,  Series  2004-1 and Series 2004-2 and its Chase Funding
Loan Acquisition Trust Mortgage Loan Asset-Backed Certificates, Series 2001-AD1,
Series 2001-C1, Series 2001-C2, Series 2001-C3, Series 2001-FF1, Series 2002-C1,
Series  2003-C1,  Series  2003-C2,  Series  2004-AQ1  and Series  2004-OPT1  and
contemplated by the applicable  Pooling and Servicing  Agreement for such Series
(collectively, the "Pooling and Servicing Agreement").

Copies of the  Certificateholders'  Reports with  respect to such  distributions
delivered  pursuant to Section 6.02 of the Pooling and  Servicing  Agreement are
being filed as exhibits to this Current Report on Form 8-K.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits.

Exhibit No.  Description
-----------  -----------

   99.1      Monthly Reports with respect to the February 25, 2005 distribution.
<PAGE>

                                    SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                               JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
                               (f/k/a "The Chase Manhattan Bank"),
                               As Paying Agent, on behalf of Chase Funding, Inc.

                               By: /s/ Andrew M. Cooper
                                   -------------------------------
                               Name:  Andrew M. Cooper
                               Title: Assistant Vice President
                               Date:  March 2, 2005
<PAGE>

                                INDEX TO EXHIBITS

Exhibit No.             Description
----------              -----------

   99.1                 Monthly Reports with respect to the distribution to
                        certificateholders on February 25, 2005.
<PAGE>
{"company-data": {"conformed-name": "CHASE FUNDING INC", "cik": "0000825309", "assigned-sic": "6189", "irs-number": "133840732", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "033-24654-01", "film-number": "05664520"}, "business-address": {"street1": "300 TICE BLVD", "city": "WOODCLIFF LAKE", "state": "NJ", "zip": "07675", "phone": "7322050600"}, "mail-address": {"street1": "343 THORNALL ST", "city": "EDISON", "state": "NJ", "zip": "08837"}, "former-company": {"former-conformed-name": "CHEMICAL MORTGAGE SECURITIES INC", "date-changed": "19940414"}}
UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 25, 2005

                               CHASE FUNDING, INC.
            (formerly known as "Chemical Mortgage Securities, Inc.")
            ---------------------------------------------------------
             (Exact name of registrant as specified in its charter)

                                      333-64131
                                      333-89425
                                      333-68848
         New York                     333-106428            13-3436103
 ---------------------------          ----------           -------------
(State or other jurisdiction         (Commission           (IRS Employer
     of incorporation)               File Number)        Identification No.)

    343 Thornall Street, Edison, NJ              08837
 --------------------------------------         --------
(Address of principal executive offices)       (Zip Code)

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

 ------------------------------------------------------------
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))
Section 8 - Other Events

Item 8.01 Other Events.

On or about February 25, 2005, Chase Funding,  Inc. (the  "Depositor")  made the
distributions  to  holders  of its  Chase  Funding  Mortgage  Loan  Asset-Backed
Certificates, Series 1999-1, Series 1999-2, Series 1999-3, Series 1999-4, Series
2000-1,  Series 2000-2,  Series 2000-3,  Series  2001-1,  Series 2001-2,  Series
2001-3,  Series 2001-4,  Series 2002-1,  Series  2002-2,  Series 2002-3,  Series
2002-4,  Series 2003-1,  Series 2003-2,  Series  2003-3,  Series 2003-4,  Series
2003-5,  Series  2003-6,  Series  2004-1 and Series 2004-2 and its Chase Funding
Loan Acquisition Trust Mortgage Loan Asset-Backed Certificates, Series 2001-AD1,
Series 2001-C1, Series 2001-C2, Series 2001-C3, Series 2001-FF1, Series 2002-C1,
Series  2003-C1,  Series  2003-C2,  Series  2004-AQ1  and Series  2004-OPT1  and
contemplated by the applicable  Pooling and Servicing  Agreement for such Series
(collectively, the "Pooling and Servicing Agreement").

Copies of the  Certificateholders'  Reports with  respect to such  distributions
delivered  pursuant to Section 6.02 of the Pooling and  Servicing  Agreement are
being filed as exhibits to this Current Report on Form 8-K.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits.

Exhibit No.  Description
-----------  -----------

   99.1      Monthly Reports with respect to the February 25, 2005 distribution.
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                               JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
                               (f/k/a "The Chase Manhattan Bank"),
                               As Paying Agent, on behalf of Chase Funding, Inc.

                               By: /s/ Andrew M. Cooper
                                   -------------------------------
                               Name:  Andrew M. Cooper
                               Title: Assistant Vice President
                               Date:  March 2, 2005
INDEX TO EXHIBITS

Exhibit No.             Description
----------              -----------

   99.1                 Monthly Reports with respect to the distribution to
                        certificateholders on February 25, 2005.