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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 10-K
FOR ANNUAL AND TRANSITION REPORTS
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
FOR THE FISCAL YEAR ENDED: DECEMBER 31, 1999
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Commission file number: 333-64131
-----------------------------------------------
CHASE FUNDING, INC.
(Issuer in respect of Chase Funding Mortgage Loan Asset-Backed Certificates
Series 1999-1, Series 1999-2, Series 1999-3 and Series 1999-4)
(the "Certificates")
----------------------
(Exact name of Registrant as specified in its charter)
New York 13-3436103
-------------------------------- --------------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation) Identification No.
343 Thornall Street
Edison, New Jersey 10043
-------------------------------- --------------------------
(Address of principal executive (Zip Code)
offices)
Registrant's telephone number, including area code: (732) 205-0600
Securities registered pursuant to Section 12(b) of the Act: NONE
Securities registered pursuant to Section 12(g) of the Act: NONE
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports) and (2) has been subject to such
filing requirements for the past 90 days. Yes: X No:
---- ----
Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be contained,
to the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. NOT APPLICABLE.
State the aggregate market value of the voting stock held by
non-affiliates of the Registrant. The aggregate market value shall be computed
by reference to the price at which the stock was sold, or the average bid and
asked priced of such stock, as of a specified date within 60 days prior to the
date of filing. (See definition of affiliate in Rule 405). NOT APPLICABLE.
This Annual Report on Form 10-K is filed pursuant to Sections 13 and
15(d) of the Securities Exchange Act of 1934, as amended, in the manner
described in a "no-action" letter issued by the Office of Chief Counsel issued
to Chase Funding, Inc. (formerly known as Chemical Mortgage Securities, Inc.)
dated May 24, 1988 (the "Exemption Order"). Accordingly, responses to certain
items have been omitted from or modified in this Annual Report.
The Mortgage Loan Asset-Backed Certificates, Series 1999-1, Series
1999-2, Series 1999-3 and Series 1999-4, (each a "Series"), each represent the
entire beneficial ownership interest in a trust fund (the "Trust Fund")
consisting, among other things, of a segregated pool of subprime one- to
four-family first-lien mortgage loans (the "Mortgage Loans").
PART I
Item 1. Business.
Omitted.
Item 2. Properties.
Information regarding the mortgaged properties will be included in the
Accountant's Statements and Annual Statement of Compliance filed under Item 14
hereof, as discussed in Item 14.
Item 3. Legal Proceedings.
The registrant knows of no material pending legal proceedings with
respect to the Trust Fund for any Series, involving the registrant, Trust Fund,
Citibank N.A. (the "Trustee") and Chase Manhattan Mortgage Corporation (the
"Seller and Master Servicer"), Advanta Mortgage Corp. USA (the "Subservicer"),
other than ordinary routine litigation incidental to duties of the registrant,
Trustee, Seller or the Subservicer under the applicable pooling and servicing
agreement for Series 1999-1, Series 1999-2, Series 1999-3 and Series 1999-4.
Item 4. Submission of Matters to a Vote of Security Holders.
No matter was submitted to a vote of Certificateholders for any Series
during the fiscal year covered by this report.
PART II
Item 5. Market for Registrant's Common Equity and Related Stockholder
Matters.
(a) (1) To the knowledge of the Registrant, there is no
established public market for the Certificates of
any Series
(2) To the knowledge of the Registrant, there are no
reported high and low bid quotations for any of the
Certificates.
(b) The records of the Registrant indicate that as of December 31,
1999, the following Series had the following number of holders
of record:
Series 1999-1: 45
Series 1999-2: 35
Series 1999-3: 29
Series 1999-4: 35
Item 6. Selected Financial Data.
Omitted.
Item 7. Management's Discussion and Analysis of Financial Condition and
Results of Operations.
Omitted.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk
Not applicable.
Item 8. Financial Statements and Supplementary Data.
Omitted.
Item-9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure.
None.
PART III
Item 10. Directors and Executive Officers of the Registrant.
Omitted.
Item 11. Executive Compensation.
Omitted.
Item 12. Security Ownership of Certain Beneficial Owners and
Management.
As of December 31, 1999, there were the following holders of record
with more than 5% of each class of series:
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Chase Funding, Inc. Name & Address of Participant Original Certificate % of Class
Principal Balance
- --------------------------------------------------------------------------------------------------
Series 1999-1
- --------------------------------------------------------------------------------------------------
Class IA-1 Bankers Trust Company 7,105,000 12.55%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------------
Boston Safe Deposit & Trust Company 6,855,000 12.11%
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
- --------------------------------------------------------------------------------------------------
Northern Trust Company (THE) 13,660,000 24.13%
801 S. Canal C-IN
Chicago, IL 60607
- --------------------------------------------------------------------------------------------------
State Street Bank & Trust Company 21,400,000 37.81%
1776 Heritage Drive
Global Corporate Action Unit
JAB 5NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------------
Class IA-2 Bank of New York (THE) 14,750,000 61.97%
925 Patterson Plank Road
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------------
Chase Securities Inc. 1,500,000 6.30%
55 Water Street, Room 434
New York, NY 10041
- --------------------------------------------------------------------------------------------------
Northern Trust Company (THE) 2,025,000 8.51%
801 S. Canal C-IN
Chicago, IL 60607
- --------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------
Wachovia Bank, N.A. 1,500,000 6.30%
100 N. Main Street, NC 37121
Winston-Salem, NC 27150
- --------------------------------------------------------------------------------------------------
Class IA-3 Bank of New York (THE) 12,900,000 100.00%
925 Patterson Plank Road
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------------
Class IA-4 Chase Manhattan Bank 5,000,000 414.67%
5 New York Plaza, 13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
Citibank/Private Banking Division 4,000,000 33.33%
1309 N. Ward Street, 2nd Floor
Tampa, FL 33607
- --------------------------------------------------------------------------------------------------
Northern Trust Company (THE) 3,000,000 25.00%
801 S. Canal C-IN
Chicago, IL 60607
- --------------------------------------------------------------------------------------------------
Class IA-5 Boston Safe Deposit & Trust Company 2,000,000 15.38%
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
- --------------------------------------------------------------------------------------------------
Norwest Bank Minnesota 11,000,000 84.62%
National Association
733 Marquette Avenue
Minneapolis, MN 55479-0056
- --------------------------------------------------------------------------------------------------
Class IM-1 Chase Manhattan Bank 6,987,000 100.00%
4 New York Plaza, 13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
Class IM-2 Citibank, N.A. 2,275,000 100.00%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------------
Class IB Chase Manhattan Bank 2,438,000 100.00%
4 New York Plaza, 13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------
Class IIA-1 Bank of New York (THE) 37,000,000 26.60%
925 Patterson Plank Road
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------------
Chase Manhattan Bank 66,650,000 48.00%
4 New York Plaza, 13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
Northern Trust Company (THE) 10,000,000 7.20%
801 S. Canal C-IN
Chicago, IL 60607
- --------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------
State Street Bank & Trust Company 25,000,000 18.00%
1776 Heritage Drive
Global Corporate Action Unit
JAB 5NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------------
Class IIA-2 Bankers Trust Company 5,000,000 8.50%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------------
Chase Manhattan Bank 7,000,000 11.90%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
Northern Trust Company (THE) 32,250,000 54.80%
801 S. Canal C-IN
Chicago, IL 60607
- --------------------------------------------------------------------------------------------------
SSB - Trust Custody 12,000,000 20.40%
225 Franklin Street, M4
Boston, MA 02110
- --------------------------------------------------------------------------------------------------
Class IIM-2 Bank One Trust Company, N.A. 17,625,000 100.00%
1900 Polaris Parkway, 4th Floor
Columbus, OH 43240
- --------------------------------------------------------------------------------------------------
Class IIB Bank of New York (THE) 11,750,000 100.00%
925 Patterson Plank Road
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------------
Series 1999-2
- --------------------------------------------------------------------------------------------------
Class IA-1 Chase Manhattan Bank 74,619,000 97.39%
4 New York Plaza, 13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
Class IA-2 Bankers Trust Company 8,425,000 15.91%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------------
Brown Brothers Harriman & Co. 6,500,000 12.28%
63 Wall Street, 8th Floor
New York, NY 10005
- --------------------------------------------------------------------------------------------------
Chase Manhattan Bank 3,650,000 5.93%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
Northern Trust Company (THE) 6,050,000 11.43%
801 S. Canal C-IN
Chicago, IL 60607
- --------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------
State Street Bank and Trust Company 17,115,000 32.33%
1776 Heritage Drive
Global Corporate Action Unit
JAB 5NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------------
Suntrust Bank/Safekeeping 10,000,000 18.89%
Custodian for STES
303 Peachtree Street, 23rd Floor
Atlanta, GA 30302
- --------------------------------------------------------------------------------------------------
Class IA-3 Prudential Securities Incorporated 5,000,000 100.00%
Issuer Services
c/o ADP Proxy Services
51 Mercedes Way
Edgewood, NY 11717
- --------------------------------------------------------------------------------------------------
Class IA-4 Citibank, N.A. 10,441,000 53.71%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------------
U.S. Bank National Association 9,000,000 46.29%
MPFP 1603 Proxy Unit
601 Second Avenue South
Minneapolis, MN 55402
- --------------------------------------------------------------------------------------------------
Class IA-5 Bank of New York (THE) 14,000,000 58.33%
925 Patterson Plank Road
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------------
Norwest Bank Minnesota 10,000,000 41.67%
National Association
733 Marquette Avenue
Minneapolis, MN 55479-0056
- --------------------------------------------------------------------------------------------------
Class IM-1 Bank of New York (THE) 9,000,000 100.00%
925 Patterson Plank Road
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------------
Class IM-2 Bank of New York (THE) 3,750,000 50.00%
925 Patterson Plank Road
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------------
Citibank, N.A. 3,750,000 50.00%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------------
Class IB Bank of New York (THE) 3,000,000 54.55%
925 Patterson Plank Road
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------------
Chase Manhattan Bank 500,000 9.09%
4 New York Plaza, 13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
Citibank, N.A. 2,000,000 36.36%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------
Class IIA-1 Bankers Trust Company 35,000,000 10.80%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------------
Boston Safe Deposit & Trust Company 18,000,000 5.56%
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
- --------------------------------------------------------------------------------------------------
Chase Manhattan Bank 198,950,000 61.41%
4 New York Plaza, 13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
State Street Bank & Trust Company 72,000,000 22.23%
1776 Heritage Drive
Global Corporate Action Unit
JAB 5NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------------
Class IIM-1 Bank One Trust Company, N.A. 12,800,000 56.14%
1900 Polaris Parkway, 4th Floor
Columbus, OH 43240
- --------------------------------------------------------------------------------------------------
UMB Bank, National Association 5,000,000 21.93%
P.O. Box 419260
Kansas City, MO 64141-6260
- --------------------------------------------------------------------------------------------------
U.S. Bank National Association 5,000,000 21.93%
MPFP 1603 Proxy Unit
601 Second Avenue South
Minneapolis, MN 55402
- --------------------------------------------------------------------------------------------------
Class IIM-2 Bank of New York (THE) 8,050,000 44.60%
925 Patterson Plank Road
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------------
The Bank of New York/First Union 5,000,000 27.70%
Safekeeping
Dealer Clearance
16 Wall Street, 5th Floor
New York, NY 10005
- --------------------------------------------------------------------------------------------------
Chase Manhattan Bank 5,000,000 27.70%
4 New York Plaza, 13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
Class IIB Bank of New York (THE) 3,200,000 21.05%
925 Patterson Plank Road
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------------
Bankers Trust Company 7,000,000 46.05%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------
State Street Bank & Trust Company 5,000,000 32.89%
1776 Heritage Drive
Global Corporate Action Unit
JAB 5NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------------
Series 1999-3
- --------------------------------------------------------------------------------------------------
Class IA-1 Bankers Trust Company 25,000,000 56.82%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------------
Citibank, N.A. 10,000,000 22.73%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------------
HSBC Bank USA/Treasury Investment 8,000,000 18.18%
140 Broadway - Level A
New York, NY 10015
- --------------------------------------------------------------------------------------------------
Class IA-2 Chase Manhattan Bank 11,225,000 56.13%
4 New York Plaza, 13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
Citibank, N.A. 5,000,000 25.00%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------------
Investors Bank & Trust Company 1,400,000 7.00%
200 Claredon Street
15th Floor Hancock Tower
Boston, MA 02116
- --------------------------------------------------------------------------------------------------
Prudential Securities Incorporated 2,000,000 10.00%
c/o ADP Proxy Services
51 Mercedes Way
Edgewood, NY 11717
- --------------------------------------------------------------------------------------------------
Class IA-4 Banc of America Securities LLC 8,000,000 44.44%
185 Berry Street, 3rd Floor
San Francisco, CA 94107
- --------------------------------------------------------------------------------------------------
Citibank, N.A. 10,000,000 55.56%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------------
Class IA-5 Citibank, N.A. 4,850,000 44.70%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------------
U.S. Bank National Association 6,000,000 55.30%
MPFP 1603 Proxy Unit
601 Second Avenue South
Minneapolis, MN 55402
- --------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------
Class IA-6 Bank of New York (THE) 12,150,000 100.00%
925 Patterson Plank Road
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------------
Class IM-1 Bank of New York (THE) 3,000,000 44.44%
925 Patterson Plank Road
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------------
Chase Manhattan Bank 3,750,000 55.56%
4 New York Plaza, 13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
Class IM-2 The Bank of New York/First Union 1,712,000 46.12%
Safekeeping
Dealer Clearance
16 Wall Street, 5th Floor
New York, NY 10005
- --------------------------------------------------------------------------------------------------
Boston Safe Deposit and Trust 2,000,000 53.88%
Company
c/o Mellon Bank N.A.
Room 153-3015
Three Mellon Bank Center
Pittsburgh, PA 15259
- --------------------------------------------------------------------------------------------------
Class IB The Bank of New York/First Union 1,538,000 50.63%
Safekeeping
Dealer Clearance
16 Wall Street, 5th Floor
New York, NY 10005
- --------------------------------------------------------------------------------------------------
Chase Manhattan Bank 1,500,000 49.54%
4 New York Plaza, 13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
Class IIA-1 Bankers Trust Company 142,025,000 68.60%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------------
Citibank, N.A. 55,000,000 26.57%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------------
Class IIB Bank One Trust Company, N.A. 15,925,000 100.00%
1900 Polaris Parkway
4th Floor
Columbus, OH 43240
- --------------------------------------------------------------------------------------------------
Class IIM-1 The Bank of New York/First Union 5,525,000 50.11%
Safekeeping
Dealer Clearance
16 Wall Street, 5th Floor
New York, NY 10005
- --------------------------------------------------------------------------------------------------
Chase Manhattan Bank 5,500,000 49.89%
4 New York Plaza, 13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------
Class IIM-2 The Bank of New York/First Union 6,025,000 54.65%
Safekeeping
Dealer Clearance
16 Wall Street, 5th Street
New York, NY 10005
- --------------------------------------------------------------------------------------------------
Chase Manhattan Bank 5,000,000 45.35%
4 New York Plaza, 13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
Series 1999-4
- --------------------------------------------------------------------------------------------------
Class IA-1 Chase Manhattan Bank 12,500,000 29.07%
4 New York Plaza, 13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
First Union National Bank 13,000,000 30.23%
1525 West W.T. Harris Blvd.
34A
Charlotte, NC 28288
- --------------------------------------------------------------------------------------------------
HSBC Bank USA/Treasury Department 17,500,000 40.70%
140 Broadway - Level A
New York, NY 10015
- --------------------------------------------------------------------------------------------------
Class IA-2 First Union National Bank 5,500,000 29.73%
1525 West W.T. Harris Blvd., 34A
Charlotte, NC 28288
- --------------------------------------------------------------------------------------------------
Northern Trust Company (THE) 1,000,000 5.41%
801 S. Canal C-IN
Chicago, IL 60607
- --------------------------------------------------------------------------------------------------
SSB - Trust Custody 12,000,000 64.86%
225 Franklin Street, M4
Boston, MA 02110
- --------------------------------------------------------------------------------------------------
Class IA-3 Bank of New York (The) 6,500,000 35.14%
925 Patterson Plank Road
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------------
Bankers Trust Company 2,000,000 10.81%
C.O. BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------------
First Union National Bank 5,500,000 29.73%
1525 West W. T. Harris Blvd.
Charlotte, NC 28288
- --------------------------------------------------------------------------------------------------
Class IA-4 Bank of New York (The) 9,000,000 56.25%
925 Patterson Plank Road
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------------
Brown Brothers Harriman & Co. 1,000,000 6.25%
63 Wall Street, 8th Floor
New York, NY 10005
- --------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------
Chase Securities Inc. 1,000,000 6.25%
55 Water Street, Room 434
New York, NY 10041
- --------------------------------------------------------------------------------------------------
First Union National Bank 5,000,000 31.25%
1525 West W. T. Harris Blvd.
Charlotte, NC 28288
- --------------------------------------------------------------------------------------------------
Class IA-5 Bank of New York (The) 4,000,000 34.36%
925 Patterson Plank Road
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------------
Firstar Bank, N.A. 4,140,000 35.57%
425 Walnut Street
Cincinnati, OH 45202
- --------------------------------------------------------------------------------------------------
First Union National Bank 3,500,000 30.07%
1525 West W. T. Harris Blvd.
Charlotte, NC 28288
- --------------------------------------------------------------------------------------------------
Class IA-6 Bankers Trust Company 8,460,000 70.74%
C.O. BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------------
First Union National Bank 3,500,000 29.26%
1525 West W. T. Harris Blvd.
Charlotte, NC 28288
- --------------------------------------------------------------------------------------------------
Class IM-1 Bank of New York (The) 1,400,000 30.77%
925 Patterson Plank Road
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------------
Chase Manhattan Bank 2,000,000 43.96%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
Firstar Bank, N.A. 1,150,000 25.27%
425 Walnut Street
Cincinnati, OH 45202
- --------------------------------------------------------------------------------------------------
Class IM-2 The Bank of New York/First Union 900,000 34.19%
Safekeeping
16 Wall Street
New York, NY 10005
- --------------------------------------------------------------------------------------------------
Chase Manhattan Bank 1,025,000 35.04%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
Citibank, N.A. 1,000,000 34.19%
P. O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------------
Class 1B The Bank of New York/First Union 900,000 30.77%
Safekeeping
16 Wall Street
New York, NY 10005
- --------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------
Chase Manhattan Bank 2,025,000 69.23%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
Class IIA-1 Bankers Trust Company 86,000,000 41.91%
C.O. BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------------
BNY/ITC - Dealers Clearance Special 17,000,000 8.28%
C/O N.A. Schapiro & Co. Inc.
One Chase Manhattan Plaza,
58th Floor
New York, NY 10005
- --------------------------------------------------------------------------------------------------
Chase Manhattan Bank 62,000,000 30.21%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
Deutsche Bank Securities Inc. 40,200,000 19.59%
175 Water Streety
New York, NY 10038
- --------------------------------------------------------------------------------------------------
Class IIM-1 Chase Manhattan Bank 14,760,000 100.00%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
Class IIM-2 The Bank of New York/First Union 3,000,000 28.74%
Safekeeping
16 Wall Street, 5th Floor
New York, NY 10005
- --------------------------------------------------------------------------------------------------
Chase Manhattan Bank 7,440,000 71.26%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------------
Class IIB The Bank of New York/First Union 9,600,000 100.00%
Safekeeping
16 Wall Street
New York, NY 10005
- --------------------------------------------------------------------------------------------------
Item 13. Certain Relationships and Related Transactions.
Omitted.
PART IV
Item14. Exhibits, Financial Statement Schedules, and Reports of Form
8-K.
(a) Exhibits
99.1 Subservicer's Annual Statement of Compliance
For each of the following Series:
(i) Series 1999-1
(ii) Series 1999-2
(iii) Series 1999-3
(iv) Series 1999-4
99.2 Report prepared by Subservicer's certified
independent accountant's concerning their respective
duties for the year ended December 31, 1999:
(b) Reports on Form 8-K during the last quarter of the prior
calendar year.
(i) Reports on Form 8-K dated as of October 12, 1999,
November 5, 1999, December 8, 1999 and December 30,
1999 in response to Item 5 (other events) of Form 8-K
were filed with respect to information contained in
the Distribution Date Statement for each Series
delivered for the Distribution Date occurring in
September, October, November and December 1999,
respectively.
(ii) Reports on Form 8-K were filed during the last
quarter of the prior calendar year for the following
series:
(A) Series 1999-3
October 6, 1999 in response to Item 5
(acquisition or disposition of assets)
(B) Series 1999-4
December 15, 1999 in response to
Item 5 (structural term sheets,
collateral term sheets and
computation materials)
(C) Series 1999-4
December 22, 1999 in response to Item 5
(legality and tax opinions)
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
CHASE FUNDING, INC. (Registrant)
By: /s/Luke S. Hayden
---------------------------------
Name: Luke S. Hayden
Title: Chief Executive Officer
Date: March 29, 2000
Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of the registrant and
in the capacities and on the dates indicated.
Date: March 29, 2000 By: /s/ Luke S. Hayden
---------------------------------------
Name: Luke S. Hayden
Title: (Chairman)
Chief Executive Officer
Date: March 29, 2000 By: /s/ Samuel H. Cooper
---------------------------------------
Name: Samuel H. Cooper
Title: (Director)
President
Date: March 29, 2000 By: /s/ Michael D. Katz
---------------------------------------
Name: Michael D. Katz
Title: Director
Date: March 29, 2000 By: /s/ Douglas A. Potolsky
---------------------------------------
Name: Douglas A. Potolsky
Title: Director
Date: March 29, 2000 By: /s/ Matthew T. Whalen
---------------------------------------
Name: Matthew T. Whalen
Title: Director
Date: March 29, 2000 By: /s/ Stephen Fortunato
---------------------------------------
Name: Stephen Fortunato
Title: Treasurer
(Chief Financial Officer)
SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION
15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO
SECTION 12 OF THE ACT.
No annual report, proxy statement, form of proxy or other proxy soliciting
material has been sent to Certificateholders during the period covered by this
Annual Report on Form 10-K and the registrant does not intend to furnish such
materials to Certificateholders subsequent to the filing of this report.
INDEX TO EXHIBITS
-----------------
EXHIBITS
- --------
99.1 Subservicer's Annual Statement of Compliance for each of the
following Series:
(i) Series 1999-1
(ii) Series 1999-2
(iii) Series 1999-3
(iv) Series 1999-4
99.2 Report prepared by Subservicer's certified independent
accountant's concerning their respective duties for the year
ended December 31, 1999: