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): October 25, 2005


                         CHASEFLEX TRUST, SERIES 2005-1
                                    (Issuer)

                       CHASE MORTGAGE FINANCE CORPORATION
                                    (Seller)

             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)


Delaware                        333-110968-03              52-1495132
----------------------------    ---------------------      -------------------
(State or other jurisdiction    (Commission                (IRS Employer
of incorporation)               File Number)               Identification No.)


194 Wood Avenue South, Iselin, NJ                    08830
--------------------------------------------         ----------
(Address of principal executive offices)             (Zip Code)


Registrant's telephone number, including area code: (732) 452-8972


--------------------------------------------------------------
(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.

ChaseFlex Trust (the "Depositor") made distributions to holders of its
Multi-Class Mortgage Pass-Through Certificates, Series 2005-1 as contemplated by
the Pooling and Servicing Agreement among Chase Mortgage Finance Corporation,
Chase Home Finance LLC, as servicer and Wachovia Bank, N.A., as trustee, dated
as of February 1, 2005 (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 October 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 Mortgage Finance Corp.


                                     By: /s/ Andrew M. Cooper
                                         --------------------
                                         Name:  Andrew M. Cooper
                                         Title: Assistant Vice President
                                         Date:  October 28, 2005

<PAGE>

                                INDEX TO EXHIBITS

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

      99.1        Monthly Reports with respect to the distribution to
                  certificateholders on October 25, 2005.
{"company-data": {"conformed-name": "CHASE MORTGAGE FINANCE CORP CHASEFLEX TRUST SERIES 2005-1", "cik": "0001319030", "assigned-sic": "6189", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-110968-03", "film-number": "051176431"}, "business-address": {"street1": "343 THORNALL ST", "street2": "C/O A HARDY EUBANKS III", "city": "EDISON", "state": "NJ", "zip": "08837", "phone": "7322050600"}, "mail-address": {"street1": "343 THORNALL ST", "street2": "300 TICE BLVD THIRD FLOOR N", "city": "EDISON", "state": "NJ", "zip": "32256"}}
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): October 25, 2005

                         CHASEFLEX TRUST, SERIES 2005-1
                                    (Issuer)

                       CHASE MORTGAGE FINANCE CORPORATION
                                    (Seller)

             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

Delaware                        333-110968-03              52-1495132
----------------------------    ---------------------      -------------------
(State or other jurisdiction    (Commission                (IRS Employer
of incorporation)               File Number)               Identification No.)

194 Wood Avenue South, Iselin, NJ                    08830
--------------------------------------------         ----------
(Address of principal executive offices)             (Zip Code)

Registrant's telephone number, including area code: (732) 452-8972

--------------------------------------------------------------
(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.

ChaseFlex Trust (the "Depositor") made distributions to holders of its
Multi-Class Mortgage Pass-Through Certificates, Series 2005-1 as contemplated by
the Pooling and Servicing Agreement among Chase Mortgage Finance Corporation,
Chase Home Finance LLC, as servicer and Wachovia Bank, N.A., as trustee, dated
as of February 1, 2005 (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 October 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 Mortgage Finance Corp.

                                     By: /s/ Andrew M. Cooper
                                         --------------------
                                         Name:  Andrew M. Cooper
                                         Title: Assistant Vice President
                                         Date:  October 28, 2005
INDEX TO EXHIBITS

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

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