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):     March 25, 2005

                               CHASE FUNDING, INC.
       (Issuer in respect of Chase Funding Loan Acquisition Trust Mortgage
     Loan Asset-Backed Certificates, Series 2004-OPT1) (the "Certificates")
     ----------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

         New York                    333-106428-04               13-3840732
----------------------------         -------------           -------------------
(State or other jurisdiction          (Commission               (IRS Employer
     of incorporation)                File Number)           Identification No.)


   300 Tice Boulevard, Woodcliff Lake, NJ                         07675
---------------------------------------------           -----------------------
  (Address of principal executive offices)                     (Zip Code)

Registrant's telephone number, including area code:  (201) 782-9084


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

Chase Funding, Inc. (the "Depositor") made distributions to holders of its Chase
Funding Loan Acquisition Trust Mortgage Loan Asset-Backed  Certificates,  Series
2004-OPT1 as  contemplated by the Pooling and Servicing  Agreement,  dated as of
November 1, 2004,  among Chase  Funding,  Inc.,  as Depositor,  Chase  Manhattan
Mortgage  Corporation,  as Servicer and Wachovia Bank National  Association,  as
Trustee (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 March 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: April 7, 2005
<PAGE>

                                INDEX TO EXHIBITS

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

   99.1           Monthly   Reports   with  respect  to  the   distribution   to
                  certificateholders on March 25, 2005.
{"company-data": {"conformed-name": "Chase Funding Loan Acquisition Trust, Series 2004-OPT1", "cik": "0001309480", "assigned-sic": "6189", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-106428-04", "film-number": "05744219"}, "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"}}
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):     March 25, 2005

                               CHASE FUNDING, INC.
       (Issuer in respect of Chase Funding Loan Acquisition Trust Mortgage
     Loan Asset-Backed Certificates, Series 2004-OPT1) (the "Certificates")
     ----------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

         New York                    333-106428-04               13-3840732
----------------------------         -------------           -------------------
(State or other jurisdiction          (Commission               (IRS Employer
     of incorporation)                File Number)           Identification No.)

   300 Tice Boulevard, Woodcliff Lake, NJ                         07675
---------------------------------------------           -----------------------
  (Address of principal executive offices)                     (Zip Code)

Registrant's telephone number, including area code:  (201) 782-9084

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

Chase Funding, Inc. (the "Depositor") made distributions to holders of its Chase
Funding Loan Acquisition Trust Mortgage Loan Asset-Backed  Certificates,  Series
2004-OPT1 as  contemplated by the Pooling and Servicing  Agreement,  dated as of
November 1, 2004,  among Chase  Funding,  Inc.,  as Depositor,  Chase  Manhattan
Mortgage  Corporation,  as Servicer and Wachovia Bank National  Association,  as
Trustee (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 March 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: April 7, 2005
INDEX TO EXHIBITS

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

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