EX-99.1 2 ch836141-ex99_1.txt STRUCTURAL AND COLLATERAL TERM SHEETS EXHIBIT 99.1 The information herein will be superseded in its entirety by the final prospectus and prospectus supplement relating to the securities. THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR JPMORGAN SALES REPRESENTATIVE. Preliminary Structural and Collateral Term Sheet $620,000,000 (approximate) of Senior Certificates [JPMORGAN LOGO] ChaseFlex Trust Series 2005-2 Mortgage Pass-Through Certificates, CFLX 2005-2 4/25/2005 -------------------------------------------------------------------------------- Features of the Transaction -------------------------------------------------------------------------------- - Offering consists of approximately 620mm of Senior Certificates. expected to be rated AAA by at least 2 of the Rating Agencies; S&P, Moody's, Fitch, DBRS. - The Amount of Senior Certificates is approximate and may vary. - Multiple groups of Mortgage Loans will collateralize the transaction. - There are approximately 5 Pools of Senior Certificates, Pool's 1, 2, and 3 consists of 3 SubGroups each, Pool 4 consits of 1 Subroup and Pool 5 consists of 2 SubGroups each of which may vary. - The Credit Support for Pools 1,2,3,4 & 5 is Cross-Collateralized with respect to losses -------------------------------------------------------------------------------- Key Terms -------------------------------------------------------------------------------- Issuer : ChaseFlex Trust Series 2005-2 Underwriter : J.P.Morgan Securities, Inc. Depositor : Chase Mortgage Finance Corporation Trustee: Wachovia Type of Issuance: Public Servicer Advancing: Yes, Subject to Recoverability. Compensating Interest: Paid, But Capped. Clean-Up Call / Optional Termination: [10%] clean-up call (aggregate portfolio) Legal Investment: The Senior Certificates are Expected to be SMMEA at Settlement. ERISA Eligible: The Senior Certificates are Expected to be ERISA eligible subject to limitations set forth in the final prospectus supplement. Tax Treatment: REMIC Structure: Senior/Subordinate w/ Shifting Interest. and Subordinate Certificate Prepayment Lockout Expected AAA Subordination: 5.75% +/- .75% Rating Agencies (AAA): At least 2 of 4; Moody's, S&P, Fitch, DBRS Registration: Publicly Offered Certificates will be DTC -------------------------------------------------------------------------------- Time Table (approximate) -------------------------------------------------------------------------------- Expected Settlement 5/31/05 Cut-Off Date 5/1/05 First Distribution Date 6/25/05 Distribution Date 25th or Next Business Day -------------------------------------------------------------------------------- JPMSI Whole Loan Trading Desk -------------------------------------------------------------------------------- Greg Boester John Horner Dan Lonski 212.834.2499 Tom Scudese Ruslan Margolin Marc Simpson --------------------------------------------------------------------------------

JPMorgan is the marketing name used by the specific legal entity or entities named in the attached materials. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Securities or financial instruments mentioned herein may not be suitable for all investors. The recipient of these materials must make its own independent decisions regarding any securities or financial instruments mentioned herein. The information contained herein is qualified in its entirety by the information in the prospectus and prospectus supplement for this transaction. The information contained herein is preliminary as of the date hereof, supersedes any previous such information delivered to you and will be superseded by any such information subsequently delivered and ultimately by the final prospectus and prospectus supplement relating to the securities and any other information subsequently filed with the Securities and Exchange Commission. These materials are subject to change, completion or amendment from time to time without notice, and JPMorgan is under no obligation to keep you advised of such changes. These materials have been provided to you for informational purposes only and may not be relied upon by you in evaluating the merits of investing in the securities described herein. Any investment decision with respect to the securities should be made by you based solely upon the information contained in the final prospectus and prospectus supplement relating to the securities. You should consult your own counsel, accountant and other advisors as to the legal, tax, business, financial and related aspects of a purchase of these securities. The attached information may not be provided to any third party other than the addressee's legal, tax, financial and/or accounting advisors for the purposes of evaluating said material. Notwithstanding anything to the contrary contained herein, expect to the extent necessary to comply with applicable securities laws, any recipient of these materials (and each employee, representative or other agent of the recipient) may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the issuer and the certificates, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the certificates, and all materials of any kind (including opinions and other tax analyses) relating to such federal tax treatment or tax structure other than the identity of the issuer and information that would permit the identification of the issuer. Numerous assumptions were used in preparing these materials, which may or may not be reflected herein. As such, no assurance can be given as to the attached materials' accuracy, appropriateness or completeness in any particular context; nor as to whether these materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. These materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Neither JPMorgan nor any of its affiliates makes any representation or warranty as to the accuracy or completeness of the information herein. THIS INFORMATION IS FURNISHED TO YOU SOLELY BY JPMORGAN AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES (OTHER THAN JPMORGAN). JPMORGAN IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH THE PROPOSED TRANSACTION. -------------------------------------------------------------------------------- The information herein will be superseded in its entirety by the final prospectus and prospectus supplement relating to the securities. THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR JPMORGAN SALES REPRESENTATIVE. Preliminary Structural and Collateral Term Sheet $620,000,000 (approximate) of Senior Certificates [JPMORGAN LOGO] ChaseFlex Trust Series 2005-2 Mortgage Pass-Through Certificates, CFLX 2005-2 4/25/2005 -------------------------------------------------------------------------------- Features of the Transaction -------------------------------------------------------------------------------- - Offering consists of approximately 620mm of Senior Certificates. expected to be rated AAA by at least 2 of the Rating Agencies; S&P, Moody's, Fitch, DBRS. - The Amount of Senior Certificates is approximate and may vary. - Multiple groups of Mortgage Loans will collateralize the transaction. - There are approximately 5 Pools of Senior Certificates, Pool's 1, 2, and 3 consists of 3 SubGroups each, Pool 4 consits of 1 Subroup and Pool 5 consists of 2 SubGroups each of which may vary. - The Credit Support for Pools 1,2,3,4 & 5 is Cross-Collateralized with respect to losses -------------------------------------------------------------------------------- Key Terms -------------------------------------------------------------------------------- Issuer : ChaseFlex Trust Series 2005-2 Underwriter : J.P.Morgan Securities, Inc. Depositor : Chase Mortgage Finance Corporation Trustee: Wachovia Type of Issuance: Public Servicer Advancing: Yes, Subject to Recoverability. Compensating Interest: Paid, But Capped. Clean-Up Call / Optional Termination: [10%] clean-up call (aggregate portfolio) Legal Investment: The Senior Certificates are Expected to be SMMEA at Settlement. ERISA Eligible: The Senior Certificates are Expected to be ERISA eligible subject to limitations set forth in the final prospectus supplement. Tax Treatment: REMIC Structure: Senior/Subordinate w/ Shifting Interest. and Subordinate Certificate Prepayment Lockout Expected AAA Subordination: 5.75% +/- .75% Rating Agencies (AAA): At least 2 of 4; Moody's, S&P, Fitch, DBRS Registration: Publicly Offered Certificates will be DTC -------------------------------------------------------------------------------- Time Table (approximate) -------------------------------------------------------------------------------- Expected Settlement 5/31/05 Cut-Off Date 5/1/05 First Distribution Date 6/25/05 Distribution Date 25th or Next Business Day -------------------------------------------------------------------------------- JPMSI Whole Loan Trading Desk -------------------------------------------------------------------------------- Greg Boester John Horner Dan Lonski 212.834.2499 Tom Scudese Ruslan Margolin Marc Simpson --------------------------------------------------------------------------------

Yield Curve Mat 3MO 6MO 2YR 5YR 10YR 30YR Yld 2.886 3.166 3.635 3.939 4.251 4.554 -------------------------------------------------------------------------------- JPMorgan is the marketing name used by the specific legal entity or entities named in the attached materials. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Securities or financial instruments mentioned herein may not be suitable for all investors. The recipient of these materials must make its own independent decisions regarding any securities or financial instruments mentioned herein. The information contained herein is qualified in its entirety by the information in the prospectus and prospectus supplement for this transaction. The information contained herein is preliminary as of the date hereof, supersedes any previous such information delivered to you and will be superseded by any such information subsequently delivered and ultimately by the final prospectus and prospectus supplement relating to the securities and any other information subsequently filed with the Securities and Exchange Commission. These materials are subject to change, completion or amendment from time to time without notice, and JPMorgan is under no obligation to keep you advised of such changes. These materials have been provided to you for informational purposes only and may not be relied upon by you in evaluating the merits of investing in the securities described herein. Any investment decision with respect to the securities should be made by you based solely upon the information contained in the final prospectus and prospectus supplement relating to the securities. You should consult your own counsel, accountant and other advisors as to the legal, tax, business, financial and related aspects of a purchase of these securities. The attached information may not be provided to any third party other than the addressee's legal, tax, financial and/or accounting advisors for the purposes of evaluating said material. Notwithstanding anything to the contrary contained herein, expect to the extent necessary to comply with applicable securities laws, any recipient of these materials (and each employee, representative or other agent of the recipient) may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the issuer and the certificates, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the certificates, and all materials of any kind (including opinions and other tax analyses) relating to such federal tax treatment or tax structure other than the identity of the issuer and information that would permit the identification of the issuer. Numerous assumptions were used in preparing these materials, which may or may not be reflected herein. As such, no assurance can be given as to the attached materials' accuracy, appropriateness or completeness in any particular context; nor as to whether these materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. These materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Neither JPMorgan nor any of its affiliates makes any representation or warranty as to the accuracy or completeness of the information herein. THIS INFORMATION IS FURNISHED TO YOU SOLELY BY JPMORGAN AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES (OTHER THAN JPMORGAN). JPMORGAN IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH THE PROPOSED TRANSACTION. --------------------------------------------------------------------------------

CHASE MORTGAGE FINANCE CORP 8-K