Page 1 of 14

ChaseFlex Trust Series 2007-1

May 25, 2007

Table of Contents

Distribution Report	2
Factor Report	3
Components Distribution Report	4
Components Factor Report	4
Exchangeable Distribution Report	5
Exchangeable Certificate Report	5
Delinquency by Group	8
Delinquency Totals	8
Delinquency Trend Group	9
Bankruptcy Group Report	9
Foreclosure Group Report	9
REO Group Report	10
REO Property Scheduled Balance	10
Prepayment Liquidated Loan Report	10
Realized Loss Group Report	11

IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE

CONTACT THE ADMINISTRATOR LISTED BELOW:

Barbara J. Rios

Bank of New York - Structured Finance Services

601 Travis Street, 16^th Floor

Houston, Texas 77002

Tel: (713) 483-6149 / Fax: (713) 483-6627

Email: barbara.rios@bankofny.com

Page 2 of 14

ChaseFlex Trust Series 2007-1

May 25, 2007

DISTRIBUTION IN DOLLARS

CLASS	ORIGINAL FACE VALUE	BEGINNING PRINCIPAL BALANCE	PRINCIPAL	INTEREST	TOTAL	REALIZED LOSSES	DEFERRED INTEREST	ENDING PRINCIPAL BALANCE
IA1	69,123,447.00	67,501,574.33	988,699.89	365,633.53	1,354,333.42	0.00	0.00	66,512,874.44
IA2	3,050,398.00	2,978,820.92	43,630.98	16,135.28	59,766.26	0.00	0.00	2,935,189.94
IA3	50,000,000.00	48,826,758.21	715,168.66	264,478.27	979,646.93	0.00	0.00	48,111,589.55
IIA1	47,500,000.00	45,707,228.88	1,987,979.45	215,966.66	2,203,946.11	0.00	0.00	43,719,249.43
IIA2	6,340,674.00	6,101,360.80	265,371.15	28,828.93	294,200.08	0.00	0.00	5,835,989.65
IIA3	95,110,114.00	91,520,415.77	3,980,567.41	432,433.96	4,413,001.37	0.00	0.00	87,539,848.36
IIA5	2,007,600.00	2,007,600.00	0.00	10,038.00	10,038.00	0.00	0.00	2,007,600.00
IIA6	15,620,000.00	15,620,000.00	0.00	78,100.00	78,100.00	0.00	0.00	15,620,000.00
IIA7	102,398,000.00	97,767,240.15	5,134,986.45	488,836.20	5,623,822.65	0.00	0.00	92,632,253.70
IIA8	5,775,188.00	5,775,188.00	0.00	28,875.94	28,875.94	0.00	0.00	5,775,188.00
IIA9	8,100,000.00	8,100,000.00	0.00	40,500.00	40,500.00	0.00	0.00	8,100,000.00
IIA10	15,000,000.00	14,008,223.50	1,048,177.85	67,939.88	1,116,117.73	0.00	0.00	12,960,045.65
IIA12	50,000.00	50,753.76	51,007.53	0.00	51,007.53	0.00	253.77	0.00
AP	4,062,775.00	3,985,677.83	54,935.67	0.00	54,935.67	0.00	0.00	3,930,742.16
AR	100.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
M1	11,700,300.00	11,683,795.89	5,581.04	63,287.23	68,868.27	0.00	0.00	11,678,214.85
B1	4,725,200.00	4,718,534.77	2,253.92	25,558.73	27,812.65	0.00	0.00	4,716,280.85
B2	3,600,100.00	3,595,021.80	1,717.25	19,473.03	21,190.28	0.00	0.00	3,593,304.55
B3	2,250,000.00	2,246,826.21	1,073.25	12,170.31	13,243.56	0.00	0.00	2,245,752.96
B4	2,025,100.00	2,022,243.45	965.97	10,953.82	11,919.79	0.00	0.00	2,021,277.48
B5	1,575,113.48	1,572,891.63	751.33	8,519.83	9,271.16	0.00	0.00	1,572,140.30
TOTALS	450,014,109.48	435,790,155.90	14,282,867.80	2,177,729.60	16,460,597.40	0.00	253.77	421,507,541.87
IIA4	148,950,788.00	143,329,005.45	0.00	158,856.31	158,856.31	0.00	0.00	137,095,087.44
IIA11	15,000,000.00	14,008,223.50	0.00	2,101.23	2,101.23	0.00	0.00	12,960,045.65
AX	26,378,745.80	25,146,591.25	0.00	136,210.71	136,210.71	0.00	0.00	24,171,000.93

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ChaseFlex Trust Series 2007-1

May 25, 2007

FACTOR INFORMATION PER $1000 OF ORIGINAL FACE

CLASS	CUSIP	BEGINNING PRINCIPAL	PRINCIPAL	INTEREST	TOTAL	ENDING PRINCIPAL	CURRENT PASS-THRU RATE
IA1	16165VAA6	976.53657709	14.30339390	5.28957316	19.59296706	962.23318319	6.500000%
IA2	16165VAB4	976.53516689	14.30337287	5.28956549	19.59293836	962.23179402	6.500000%
IA3	16165VAC2	976.53516420	14.30337320	5.28956540	19.59293860	962.23179100	6.500000%
IIA1	16165VAD0	962.25745011	41.85219895	4.54666653	46.39886547	920.40525116	5.670000%
IIA2	16165VAE8	962.25745086	41.85219899	4.54666649	46.39886548	920.40525187	5.670000%
IIA3	16165VAF5	962.25745003	41.85219892	4.54666640	46.39886532	920.40525112	5.670000%
IIA5	16165VAH1	1,000.00000000	0.00000000	5.00000000	5.00000000	1,000.00000000	6.000000%
IIA6	16165VAJ7	1,000.00000000	0.00000000	5.00000000	5.00000000	1,000.00000000	6.000000%
IIA7	16165VAK4	954.77685258	50.14733149	4.77388426	54.92121575	904.62952108	6.000000%
IIA8	16165VAL2	1,000.00000000	0.00000000	5.00000000	5.00000000	1,000.00000000	6.000000%
IIA9	16165VAM0	1,000.00000000	0.00000000	5.00000000	5.00000000	1,000.00000000	6.000000%
IIA10	16165VAN8	933.88156667	69.87852333	4.52932533	74.40784867	864.00304333	5.820000%
IIA12	16165VAQ1	1,015.07520000	1,020.15060000	0.00000000	1,020.15060000	0.00000000	6.000000%
AP	16165VAT5	981.02351964	13.52171115	0.00000000	13.52171115	967.50180849	0.000000%
AR	16165VAU2	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	6.500000%
M1	16165VAV0	998.58942848	0.47699974	5.40902626	5.88602600	998.11242874	6.500000%
B1	16165VAW8	998.58942902	0.47699992	5.40902607	5.88602599	998.11242910	6.500000%
B2	16165VAX6	998.58942807	0.47700064	5.40902475	5.88602539	998.11242743	6.500000%
B3	16165VAY4	998.58942667	0.47700000	5.40902667	5.88602667	998.11242667	6.500000%
B4	16165VAZ1	998.58942768	0.47699867	5.40902672	5.88602538	998.11242902	6.500000%
B5	16165VBA5	998.58940322	0.47700055	5.40902615	5.88602670	998.11240267	6.500000%
TOTALS		968.39220531	31.73871107	4.83924738	36.57795845	936.65405815
IIA4	16165VAG3	962.25745009	0.00000000	1.06650198	1.06650198	920.40525116	1.330000%
IIA11	16165VAP3	933.88156667	0.00000000	0.14008200	0.14008200	864.00304333	0.180000%
AX	16165VAS7	953.28987362	0.00000000	5.16365376	5.16365376	916.30591967	6.500000%

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ChaseFlex Trust Series 2007-1

May 25, 2007

DISTRIBUTION IN DOLLARS
CLASS	ORIGINAL FACE VALUE	BEGINNING PRINCIPAL BALANCE	PRINCIPAL	INTEREST	TOTAL	REALIZED LOSSES	DEFERRED INTEREST	ENDING PRINCIPAL BALANCE
IAX	12,051,837.80	11,736,802.22	0.00	63,574.35	63,574.35	0.00	0.00	11,549,764.11
IIAX	14,326,908.00	13,409,789.03	0.00	72,636.36	72,636.36	0.00	0.00	12,621,236.82
AP1	581,243.00	567,801.07	559.79	0.00	559.79	0.00	0.00	567,241.28
AP2	3,481,533.00	3,417,876.76	54,375.88	0.00	54,375.88	0.00	0.00	3,363,500.88

FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
CLASS	CUSIP	BEGINNING PRINCIPAL	PRINCIPAL	INTEREST	TOTAL	ENDING PRINCIPAL	CURRENT PASS-THRU RATE
IAX	N/A	973.85995520	0.00000000	5.27507514	5.27507514	958.34048729	6.500000%
IIAX	N/A	935.98625956	0.00000000	5.06992577	5.06992577	880.94631584	6.500000%
AP1	N/A	976.87382042	0.96309117	0.00000000	0.96309117	975.91072925	0.000000%
AP2	N/A	981.71603142	15.61837271	0.00000000	15.61837271	966.09765870	0.000000%

*Please Note: Above Certificates are Components of AX and AP Certificates

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ChaseFlex Trust Series 2007-1

May 25, 2007

DISTRIBUTION IN DOLLARS
CLASS	ORIGINAL FACE VALUE	BEGINNING PRINCIPAL BALANCE	PRINCIPAL	INTEREST	TOTAL	ENDING PRINCIPAL BALANCE
IIA13	108,173,188.00	103,542,428.15	5,134,986.45	517,712.14	5,652,698.59	98,407,441.70
TOTALS	108,173,188.00	103,542,428.15	5,134,986.45	517,712.14	5,652,698.59	98,407,441.70

FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
CLASS	CUSIP	BEGINNING PRINCIPAL	PRINCIPAL	INTEREST	TOTAL	ENDING PRINCIPAL	CURRENT PASS-THRU RATE
IIA13	16165VAR9	957.19124179	47.47004822	4.78595620	52.25600442	909.72119357	6.000000%
TOTALS		957.19124179	47.47004822	4.78595620	52.25600442	909.72119357

*Please Note: Above Certificates are Exchangeable Certificates

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ChaseFlex Trust Series 2007-1

May 25, 2007

Total Scheduled Principal Amount	209,050.96
Group 1 AP Scheduled Principal Amount	515.47
Group 1 Non-PO Scheduled Principal Amount	75,364.67
Group 2 AP Scheduled Principal Amount	1,969.57
Group 2 Non-PO Scheduled Principal Amount	131,201.25

Total Unscheduled Principal Amounts	14,073,563.06
Group 1 AP Unscheduled Principal Amount	44.32
Group 1 Non-PO Unscheduled Principal Amount	1,676,578.84
Group 2 AP Unscheduled Principal Amount	52,406.31
Group 2 Non-PO Unscheduled Principal Amount	12,344,533.59

Group 1 One Month CPR	14.711385%
Group 2 One Month CPR	38.889548%

Total Repurchase Proceeds	0.00
Group AP Repurchase Proceeds	0.00
Group 1 Repurchase Proceeds	0.00
Group 2 Repurchase Proceeds	0.00

Total Net Liquidation Proceeds	0.00
Group 1 Net Liquidation Proceeds	0.00
Group 2 Net Liquidation Proceeds	0.00

Total Beginning Principal Balance of Mortgage Loans	435,790,155.90
Total Beginning Principal Balance of Mortgage Loans Group 1	127,350,890.36
Total Beginning Principal Balance of Mortgage Loans Group 2	308,439,265.54
Group 1 AP Beginning Principal Balance	567,801.24
Group 2 AP Beginning Principal Balance	3,417,876.56

Total Ending Principal Balance of Mortgage Loans	421,507,541.88
Total Ending Principal Balance of Mortgage Loans Group 1	125,598,387.06
Total Ending Principal Balance of Mortgage Loans Group 2	295,909,154.82
Group 1 AP Ending Principal Balance	567,241.46
Group 2 AP Ending Principal Balance	3,363,500.68

Aggregate Amount of Servicer Advances	215,457.34
Aggregate Amount of Recovered Servicer Advances	376,390.84

Aggregate Number of Outstanding Mortgage Loans	1,104.00
Aggregate Number of Outstanding Mortgage Loans Group 1	636.00
Aggregate Number of Outstanding Mortgage Loans Group 2	468.00

Aggregate Weighted Average Coupon	7.071625%
Aggregate Weighted Average Coupon Group 1	7.326067%
Aggregate Weighted Average Coupon Group 2	6.966569%

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ChaseFlex Trust Series 2007-1

May 25, 2007

Aggregate Weighted Average Remaining Term	353
Aggregate Weighted Average Remaining Term Group 1	347
Aggregate Weighted Average Remaining Term Group 2	355
Total Gross Interest	2,568,120.45
Group 1 Gross Interest	777,484.31
Group 2 Gross Interest	1,790,636.14

Total Servicing Fees	92,968.56
Group 1 Servicing Fees	27,168.13
Group 2 Servicing Fees	65,800.43

Page 8 of 14

ChaseFlex Trust Series 2007-1

May 25, 2007

Number and Aggregate Principal Amounts of Mortgage Loans in Delinquency

Delinquency by Group
Group 1
Category	Number	Principal Balance	Percentage
1 Month	11	2,585,627.93	0.0205865
2 Month	2	328,968.54	0.0026192
3 Month	0	0.00	0
Total	13	2,914,596.47	0.0232057

Delinquency by Group
Group 2
Category	Number	Principal Balance	Percentage
1 Month	11	8,620,921.89	0.0291337
2 Month	2	1,002,037.83	0.0033863
3 Month	0	0.00	0
Total	13	9,622,959.72	0.03252

Delinquency Totals
Group Totals
Category	Number	Principal Balance	Percentage
1 Month	22	11,206,549.82	0.0265868
2 Month	4	1,331,006.37	0.0031577
3 Month	0	0.00	0
Total	26	12,537,556.19	0.0297446

Page 9 of 14

ChaseFlex Trust Series 2007-1

May 25, 2007

Number and Aggregate Principal Amounts of Mortgage Loans in Bankruptcy

Bankruptcy Group Report
Group Number	Number of Loans	Principal Balance	Percentage
1	3	713,397.28	0.57%
2	0	0.00	0.00%
Total	3	713,397.28	0.17%

Number and Aggregate Principal Amounts of Mortgage Loans in Foreclosure

Foreclosure Group Report
Group Number	Number of Loans	Principal Balance	Percentage
1	2	164,043.74	0.13%
2	0	0.00	0.00%
Total	2	164,043.74	0.04%

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ChaseFlex Trust Series 2007-1

May 25, 2007

Number and Aggregate Principal Amounts of REO Loans

REO Group Report
Group Number	Number of Loans	Principal Balance	Percentage
1	0	0.00	0.00%
2	0	0.00	0.00%
Total	0	0.00	0.00%

REO Mortgage Loans

REO Property Scheduled Balance
Group Number	Loan Number	REO Date	Schedule Principal Balance
			0.00
Total			0.00

Liquidated Mortgage Loans

Prepayment Liquidated Loan Report
Group Number	Loan Number	Date	Penalties	Premiums	Prepayment Amount	Current Note Rate	Original Stated Term	Original LTV Ratio (%)	Loan Origination Date
			0.00	0.00	0.00	.0	0.00	0.00
Total			0.00	0.00	0.00

Page 11 of 14

ChaseFlex Trust Series 2007-1

May 25, 2007

Realized Loss Group Report
Group Number	Current Loss	Cumulative Loss	Ending Balance	Balance of Liquidated Loans	Net Liquidation Proceeds
1	0.00	0.00	125,598,387.06	0.00	0.00
2	0.00	0.00	295,909,154.82	0.00	0.00
TOTAL	0.00	0.00	421,507,541.88	0.00	0.00

Current Period Aggregate Realized Losses	0.00
Current Period Group 1 Realized Losses	0.00
Current Period Group 2 Realized Losses	0.00

Cumulative Realized Losses	0.00
Cumulative Group 1 Realized Losses	0.00
Cumulative Group 2 Realized Losses	0.00

Fraud Loss Amount	4,500,141.00
Bankruptcy Loss Amount	150,000.00
Special Hazard Loss Amount	4,830,000.00

Class A Principal Balance	409,950,842.15
Class AP Principal Balance	3,985,677.83
Class A Group 1 Principal Balance	119,307,153.46
Class A Group 2 Principal Balance	286,658,010.86
Class M1 Principal Balance	11,683,795.89
Class B Principal Balance	14,155,517.86

Class A Percentage	94.070698%
Class AP Percentage	0.914586%
Non-PO Class A Group 1 Percentage	94.103365%
Non-PO Class A Group 2 Percentage	93.979643%
Class M1 Percentage	2.681060%
Class B Percentage	3.248242%

Class A Group 1 Prepayment Percentage	100.0000%
Class A Group 2 Prepayment Percentage	100.0000%

Original Credit Support M1	3.18%
Original Credit Support B1	2.12%
Original Credit Support B2	1.31%
Original Credit Support B3	0.81%
Original Credit Support B4	0.35%

Current Credit Support M1	3.28%

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ChaseFlex Trust Series 2007-1

May 25, 2007

Current Credit Support B1	2.19%
Current Credit Support B2	1.35%
Current Credit Support B3	0.83%
Current Credit Support B4	0.36%

Aggregate Outstanding Interest Shortfalls
Class IA1 Shortfall	0.00
Class IA2 Shortfall	0.00
Class IA3 Shortfall	0.00
Class IIA1 Shortfall	0.00
Class IIA2 Shortfall	0.00
Class IIA3 Shortfall	0.00
Class IIA4 Shortfall	0.00
Class IIA5 Shortfall	0.00
Class IIA6 Shortfall	0.00
Class IIA7 Shortfall	0.00
Class IIA8 Shortfall	0.00
Class IIA9 Shortfall	0.00
Class IIA10 Shortfall	0.00
Class IIA11 Shortfall	0.00
Class IIA12 Shortfall	0.00
Class IIA13 Shortfall	0.00
Class AR Shortfall	0.00
Class IAX Shortfall	0.00
Class IIAX Shortfall	0.00
Class M1 Shortfall	0.00
Class B1 Shortfall	0.00
Class B2 Shortfall	0.00
Class B3 Shortfall	0.00
Class B4 Shortfall	0.00
Class B5 Shortfall	0.00

Compensating Interest Shortfalls

Total Compensating Interest Shortfall	0.00
Compensating Interest Shortfall IA1	0.00
Compensating Interest Shortfall IA2	0.00
Compensating Interest Shortfall IA3	0.00
Compensating Interest Shortfall IIA1	0.00
Compensating Interest Shortfall IIA2	0.00
Compensating Interest Shortfall IIA13	0.00
Compensating Interest Shortfall IIA3	0.00
Compensating Interest Shortfall IIA4	0.00
Compensating Interest Shortfall IIA5	0.00
Compensating Interest Shortfall IIA6	0.00
Compensating Interest Shortfall IIA7	0.00

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ChaseFlex Trust Series 2007-1

May 25, 2007

Compensating Interest Shortfall IIA8	0.00
Compensating Interest Shortfall IIA9	0.00
Compensating Interest Shortfall IIA10	0.00
Compensating Interest Shortfall IIA11	0.00
Compensating Interest Shortfall IIA12	0.00
Compensating Interest Shortfall AR	0.00
Compensating Interest Shortfall IAX	0.00
Compensating Interest Shortfall IIAX	0.00
Compensating Interest Shortfall M1	0.00
Compensating Interest Shortfall B1	0.00
Compensating Interest Shortfall B2	0.00
Compensating Interest Shortfall B3	0.00
Compensating Interest Shortfall B4	0.00
Compensating Interest Shortfall B5	0.00

Relief Act Shortfalls

Total Relief Act	0.00

Relief Act Reduction IA1	0.00
Relief Act Reduction IA2	0.00
Relief Act Reduction IA3	0.00
Relief Act Reduction IIA1	0.00
Relief Act Reduction IIA2	0.00
Relief Act Reduction IIA3	0.00
Relief Act Reduction IIA4	0.00
Relief Act Reduction IIA5	0.00
Relief Act Reduction IIA6	0.00
Relief Act Reduction IIA7	0.00
Relief Act Reduction IIA8	0.00
Relief Act Reduction IIA9	0.00
Relief Act Reduction IIA10	0.00
Relief Act Reduction IIA11	0.00
Relief Act Reduction IIA12	0.00
Relief Act Reduction IIA13	0.00
Relief Act Reduction AR	0.00
Relief Act Reduction IAX	0.00
Relief Act Reduction IIAX	0.00
Relief Act Reduction M1	0.00
Relief Act Reduction B1	0.00
Relief Act Reduction B2	0.00
Relief Act Reduction B3	0.00
Relief Act Reduction B4	0.00
Relief Act Reduction B5	0.00

Page 14 of 14

ChaseFlex Trust Series 2007-1

May 25, 2007

Yield Maintenance Agreement Amounts Received
Class IIA10	0.00

Reserve Fund - Per Yield Maintenance Agreements
Deposit Total In the Reserve Fund	0.00
Withdrawal Total From the Reserve Fund	0.00

ADDITIONAL POOL PERFORMANCE INFORMATION

Any material modifications, extensions or waivers to pool asset terms,
fees, penalties or payments during the distribution period or that
have cumulatively become material over time.	NO

Material breaches of pool asset representations or warranties or transaction covenants.	NO

Material changes as to methodology regarding calculations of delinquencies and charge-offs	NO

ChaseFlex Trust Series 2007-1 10-D