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): November 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 November 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:  December 5, 2005

<PAGE>

                                INDEX TO EXHIBITS
                                -----------------


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

   99.1                     Monthly Reports with respect to the distribution to
                            certificateholders on November 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": "051258310"}, "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): November 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 November 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:  December 5, 2005
INDEX TO EXHIBITS
                                -----------------

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

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