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, 2004
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Commission file number: 333-76801
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CHASE MORTGAGE FINANCE CORPORATION
(Issuer in respect of Chase Mortgage Finance Trust
Series 2004-S1 and Series 2004-S2)
(the "Certificates")
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(Exact name of registrant as specified in its charter)
Delaware 52-1495132
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(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification No.)
194 Wood Avenue South, Iselin, New Jersey 08830
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (732) 452-8972
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.
Indicate by check mark whether the registrant is an accelerated filer (as
defined in Rule 12b-2 of the Act): Yes |_| No |X|
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. Not Applicable.
Introductory Note
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
"no-action" letters submitted to the Office of Chief Counsel on behalf of the
originators of comparable trusts, and, in particular, the letter dated May 24,
1988 issued by the Office of the Chief Counsel to Chemical Mortgage Securities,
Inc. (currently known as Chase Funding, Inc.) an affiliate of the registrant
(the "Exemption Order"). Accordingly, responses to certain items have been
omitted from or modified in this Annual Report.
Each Series (a "Series") of the Registrant's Multi-Class Mortgage
Pass-Through Certificates (the "Certificates") represent beneficial ownership
interests in a trust fund (for each Series a "Trust Fund") consisting, among
other things, of a segregated pool of 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 is included in the Annual
Statement of Compliance filed under Item 8 and Item 15 hereof.
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, Citibank N.A. (the
"Trustee") or Chase Manhattan Mortgage Corporation (the "Servicer"), other than
ordinary routine litigation incidental to duties of the registrant, Trustee or
the Servicer under the applicable pooling and servicing agreement.
Item 4. Submission of Matters to a Vote of Security Holders.
No matter was submitted to a vote of Security Holders for any Series
during the fiscal year covered by this report.
PART II
Item 5. Market for Registrant's Common Equity and Related Stockholders Matters
and Issuer Purchases of Equity Securities.
(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, 2004,
the following Series had the following number of holders of record:
Series No. of Holders
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2004-S1 19
2004-S2 33
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.
In accordance with the Exemption Orders, the Annual Statement of
Compliance and the Annual Independent Accountant's Reports for the Certificates
for each Series are included herein as Exhibit 99.1 and 99.2, respectively.
Item 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure
None.
Item 9A. Controls and Procedures
None.
Item 9B. Other Information
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.
The records of DTC indicate that as of December 31, 2004, there were the
following holders of record with more than 5% of each class of each Series of
Certificates:
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Original Certificate
Chase Mortgage Finance Trust Name & Address of Participant Principal Balance % of Class
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Series 2004-S1
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A1 00000901 The Bank of New York $150,000,000 75.70%
One Wall Street
New York, NY 10286
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00000274 CGM/SAL BR $ 24,069,750 12.15%
333 W 34th Street 3rd Floor
New York, NY 10001
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00000997 State Street Bank and Trust Company $ 24,069,750 12.15%
1776 Heritage Drive
Global Corporate Action Unit JAB 5NW
NO. QUINCY, MA 02171
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A2 00000901 The Bank of New York $ 34,884,700 100%
One Wall Street
New York, NY 10286
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A3 00000902 JPMorgan Chase Bank, National $ 57,619,000 100%
Association
PROXY/CLASS ACTIONS/BANKRUPTCY
14201 DALLAS PKWY FL 12
Dallas, TX 75254
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A4 00000908 Citibank, N.A. $ 25,329,300 100%
3800 CITIBANK CENTER B3-15
Tampa, FL 33610
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A5 00000636 LHMNGV/LBI $ 25,329,300 100%
70 Hudson Street
Jersey City, NJ 07302
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A6 00000908 Citibank, N.A. $ 1,413,750 100%
3800 CITIBANK CENTER B3-15
Tampa, FL 33610
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A7 00000901 The Bank of New York $ 22,000,000 20.50%
One Wall Street
New York, NY 10286
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Original Certificate
Chase Mortgage Finance Trust Name & Address of Participant Principal Balance % of Class
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00000187 J.P. Morgan Securities Inc. - Fixed $ 11,333,750 10.56%
Income
34 Exchange Place, 4th Floor
Jersey City, NJ 07302
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00000908 Citibank, N.A. $ 25,000,000 23.29%
3800 CITIBANK CENTER B3-15
Tampa, FL 33610
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00000997 State Street Bank and Trust Company $ 45,000,000 41.93%
1776 Heritage Drive
Global Corporate Action Unit JAB 5NW
NO. QUINCY, MA 02171
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AP 00000780 MORGAN K $ 125,000 100%
50 North Front Street
Memphis, TN 38103
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B1 00000902 JPMorgan Chase Bank, National $ 645,000 100%
Association
PROXY/CLASS ACTIONS/BANKRUPTCY
14201 DALLAS PKWY FL 12
Dallas, TX 75254
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B2 00000902 JPMorgan Chase Bank, National $ 860,000 100%
Association
PROXY/CLASS ACTIONS/BANKRUPTCY
14201 DALLAS PKWY FL 12
Dallas, TX 75254
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M 00000997 State Street Bank and Trust Company $ 2,580,000 100%
1776 Heritage Drive
Global Corporate Action Unit JAB 5NW
NO. QUINCY, MA 02171
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Series 2004-S2
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IA1 00000901 The Bank of New York $100,500,000 100%
One Wall Street
New York, NY 10286 NY 10286
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IA2 00000005 GOLDMAN $ 11,964,285 100%
180 Maiden Lane
New York, NY 10038
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IA3 00000908 Citibank, N.A. $ 6,320,000 100%
3800 CITIBANK CENTER B3-15
Tampa, FL 33610
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IA4 00000908 Citibank, N.A. $ 12,789,010 100%
3800 CITIBANK CENTER B3-15
Tampa, FL 33610
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IA5 00000954 Mellon Trust of New England, NA $ 8,281,094 100%
525 William Penn Place, Suite 3418
Pittsburgh, PA 15259
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IIA1 00000901 The Bank of New York $ 79,000,000 85.03%
One Wall Street
New York, NY 10286 NY 10286
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00002880 CENT TR BK $ 5,000,000 5.38%
Investments Department
238 Madison Street
Jefferson City, MO 65101
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Original Certificate
Chase Mortgage Finance Trust Name & Address of Participant Principal Balance % of Class
=======================================================================================================================
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IIA2 00000901 The Bank of New York $ 8,000,000 41.75%
One Wall Street
New York, NY 10286 NY 10286
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00000997 State Street Bank and Trust Company $ 4,000,000 20.87%
1776 Heritage Drive
Global Corporate Action Unit JAB 5NW
NO. QUINCY, MA 02171
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00002163 Wachovia Bank N.A. - Phila. Main $ 7,162,000 37.38%
530 Walnut Street, 1st Floor
Philadelphia, PA 19101
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IIA3 00000908 Citibank, N.A. $ 24,901,144 100%
3800 CITIBANK CENTER B3-15
Tampa, FL 33610
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IIA4 00000901 The Bank of New York $ 24,574,407 80.38%
One Wall Street
New York, NY 10286 NY 10286
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00002254 FNB OMAHA $ 2,000,000 6.54%
1620 Dodge Street
Omaha, NE 68102
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IIA5 00002027 Wells Fargo Bank Minnesota, N.A. $ 943,000 100%
733 Marquette Avenue
Minneapolis, MN 55479
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IIA6 00000901 The Bank of New York $ 235,000 100%
One Wall Street
New York, NY 10286
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IIA7 00000908 Citibank, N.A. $ 28,000,000 60.27%
3800 CITIBANK CENTER B3-15
Tampa, FL 33610
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00000997 State Street Bank and Trust Company $ 18,455,703 39.73%
1776 Heritage Drive
Global Corporate Action Unit JAB 5NW
NO. QUINCY, MA 02171
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IIA8 00000274 CGM/SAL BR $ 46,455,703 100%
333 W 34th Street 3rd Floor
New York, NY 10001
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IIA9 00000908 Citibank, N.A. $ 40,000,000 43.05%
3800 CITIBANK CENTER B3-15
Tampa, FL 33610
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00005198 Merrill, Lynch, Pierce Fenner & Smith $ 52,911,407 56.95%
Safekeeping
4 Corporate Place
Piscataway, NJ 08854
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AP 00007325 LBI/ELLING $ 1,645,631 100%
[No contact information listed]
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AX 00000352 Bear Stearns Securities Corp. $ 19,787,322 100%
One Metrotech Center North, 4th Floor
Brooklyn, NY 11201-3862
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B1 00000901 The Bank of New York $ 2,925,032 100%
One Wall Street
New York, NY 10286 NY 10286
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Original Certificate
Chase Mortgage Finance Trust Name & Address of Participant Principal Balance % of Class
=======================================================================================================================
- -----------------------------------------------------------------------------------------------------------------------
B2 00000901 The Bank of New York $1,800,020 100%
One Wall Street
New York, NY 10286 NY 10286
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M 00000902 JPMorgan Chase Bank, National $5,400,061 100%
Association
PROXY/CLASS ACTIONS/BANKRUPTCY
14201 DALLAS PKWY FL 12
Dallas, TX 75254
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Item 13. Certain Relationships and Related Transactions
Omitted.
Item 14. Principal Accounting Fees and Services
Omitted.
Part IV
Item 15. Exhibits, Financial Statement Schedules
(a) The following documents are filed as part of this Annual Report on
Form 10-K.
(3) Exhibit Number Description
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31.1 Certification pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.
(i) Series 2004-S1
(ii) Series 2004-S2
99.1 Report prepared by the Servicer's certified
independent accountants concerning the Servicer's
activities for the year-end December 31, 2004.
99.2 Servicer's Annual Statement of Compliance.
(i) Series 2004-S1
(ii) Series 2004-S2
(b) See item 15(a)(3) above.
(c) Not Applicable.
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 MORTGAGE FINANCE CORP.,
depositor
By:/s/ Thomas L. Wind
---------------------------------
Name: Thomas L. Wind
Title: Co-Chief Executive Officer
Date: March 30, 2005
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
Exhibit Number Description
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31.1 Certification pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.
(i) Series 2004-S1
(ii) Series 2004-S2
99.1 Report prepared by the Servicer's certified
independent accountants concerning the Servicer's
activities for the year-end December 31, 2004.
99.2 Servicer's Annual Statement of Compliance.
(i) Series 2004-S1
(ii) Series 2004-S2