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SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549
 
 FORM 10-K
 þ
    
    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE FISCAL YEAR ENDED December 31, 2007
 OR
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934 FOR THE TRANSITION PERIOD FROM [] TO []
 Commission File Number of Issuing Entity: 333-141145-08
 ChaseFlex Trust Series 2007-M1
  Chase Mortgage Finance Corporation
  Chase Home Finance LLC
  Delaware
    
    86-1169040(State of incorporation or organization)
    
    (IRS Employer Identification No.)
 194 Wood Avenue South, Iselin, NJ
    
    08830
    
    (732) 452-8000(Address of Principal Executive Offices)
    
    (Zip Code)
    
    (Telephone Number)
 
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    Large accelerated filer o
    
    Accelerated filer o
    
    Non-accelerated filer þ
    
    Smaller reporting company o(Do not check if a smaller reporting company)
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TABLE OF CONTENTS  PART IItem 1. BusinessItem 1A. Risk FactorsItem 1B. Unresolved Staff CommentsItem 2. PropertiesItem 3. Legal ProceedingsItem 4. Submission of Matters to a Vote of Security HoldersPART IIItem 5. Market for Registrants Common Equity and Related Stockholders Matters and Issuer Purchases of Equity SecuritiesItem 6. Selected Financial DataItem 7. Managements Discussion and Analysis of Financial Condition and Results of OperationsItem 7A. Quantitative and Qualitative Disclosures About Market RiskItem 8. Financial Statements and Supplementary DataItem 9. Changes in and Disagreements with Accountants on Accounting and Financial DisclosureItem 9A. Controls and ProceduresItem 9B. Other InformationPART IIIItem 10. Directors and Executive Officers of the RegistrantItem 11. Executive CompensationItem 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder MattersItem 13. Certain Relationships and Related TransactionsItem 14. Principal Accounting Fees and ServicesItem 1112(b) of Regulation AB. Significant Obligor Financial InformationItem 1114(b)(2) of Regulation AB. Significant Enhancement Provider Financial InformationItem 1115(b) of Regulation AB. Certain Derivatives Instruments (Financial Information)Item 1117 of Regulation AB. Legal ProceedingsItem 1119 of Regulation AB. Affiliations and Certain Relationships and Related TransactionsItem 1122 of Regulation AB. Compliance with applicable Servicing CriteriaItem 1123 of Regulation AB. Servicer Compliance StatementPART IVItem 15. Exhibits and Financial Statement SchedulesSIGNATURESINDEX TO EXHIBITSSarbanes-Oxley Certification of Chase Mortgage Finance CorporationJPMorgan Chase Bank, National Association's Report on Assessment of Compliance (Servicer)Chase Home Finance LLC's Report on Assessment of Compliance (Subservicer)The Bank of New York Trust Company, N.A.'s Report on Assessment of Compliance (Paying Agent)Report of Independent Registered Public Accounting Firm (Servicer)Report of Independent Registered Public Accounting Firm (Subservicer)Report of Independent Registered Public Accounting Firm (Paying Agent)Item 1123 Compliance Statement of JPMorgan Chase Bank, National AssociationItem 1123 Compliance Statement of Chase Home Finance LLC    Table of Contents  
 PART I
 
 Item 1.    Business
  
 Item 1A. Risk Factors
  
 Item 1B. Unresolved Staff Comments
  
 Item 2.    Properties
  
 Item 3.    Legal Proceedings
  
 Item 4.    Submission of Matters to a Vote of Security Holders
  
 PART II
 
 Item 5.    Market for Registrants Common Equity and Related Stockholders Matters and Issuer
Purchases of Equity Securities
  
 Item 6.    Selected Financial Data
  
 Item 7.    Managements Discussion and Analysis of Financial Condition and Results of Operations
  
 Item 7A. Quantitative and Qualitative Disclosures About Market Risk
  
 Item 8.    Financial Statements and Supplementary Data
  
 Item 9.    Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
  
 Item 9A. Controls and Procedures
  
 Item 9B. Other Information
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PART III
 
 Item 10.   Directors and Executive Officers of the Registrant
  
 Item 11.   Executive Compensation
  
 Item 12.   Security Ownership of Certain Beneficial Owners and Management and Related
Stockholder Matters
  
 Item 13.   Certain Relationships and Related Transactions
  
 Item 14.   Principal Accounting Fees and Services
  THE FOLLOWING ITEMS HAVE BEEN SUBSTITUTED IN ACCORDANCE WITH
GENERAL INSTRUCTION J(2) TO FORM 10-K AND PURSUANT TO REGULATION AB.
 
 Item 1112(b)
of Regulation AB. Significant Obligor Financial Information
  
 Item 1114(b)(2) of Regulation AB. Significant Enhancement Provider Financial
Information
  
 Item 1115(b) of Regulation AB. Certain Derivatives Instruments
(Financial Information)
  
 Item 1117 of Regulation AB. Legal Proceedings
  
 Item 1119 of Regulation AB. Affiliations and Certain Relationships and Related Transactions
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Item 1122 of Regulation AB. Compliance with applicable Servicing Criteria
   
 Item 1123 of Regulation AB. Servicer Compliance Statement
  
 PART IV
 
 Item 15. Exhibits and Financial Statement Schedules
     Exhibit No.
    
    Description4.1
    
    Pooling and Servicing Agreement (Filed as an exhibit to Form 8-K
on August 10, 2007)10.1
    
    Mortgage Loan Sale Agreement (Chase Home Finance LLC) (Filed as
an exhibit to Form 8-K on August 10, 2007)31
    
    Sarbanes-Oxley Certification of Chase Mortgage Finance
Corporation33.1
    
    JPMorgan Chase Bank, National Associations (JPMorgan) Report
on Assessment of Compliance with Servicing Criteria (Servicer)33.2
    
    Chase Home Finance LLCs (CHF) Report on Assessment of
Compliance with Servicing Criteria (Subservicer)
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Exhibit No.
    
    Description33.3
    
    The Bank of New York Trust Company, National Associations
(BNY) Report on Assessment of Compliance with Servicing
Criteria (Paying Agent)34.1
    
    Report of Independent Registered Public Accounting Firm
(PriceWaterhouseCoopers LLP) (JPMorgan as Servicer)34.2
    
    Report of Independent Registered Public Accounting Firm
(PriceWaterhouseCoopers LLP) (CHF as Subservicer)34.3
    
    Report of Independent Registered Public Accounting Firm (Ernst &
Young) (BNY as Paying Agent)35.1
    
    Servicer Compliance Statement of JPMorgan Chase Bank, N.A.35.2
    
    Subservicer Compliance Statement of Chase Home Finance LLC
  31
    
    Rule 13a-14(d)/15d-14(d) Certifications33
    
    Reports on assessment of compliance with servicing criteria for asset-backed securities:
 
    
    JPMorgan Chase Bank, National Association, as Servicer
    
    Chase Home Finance LLC, as Subservicer
    
    The Bank of New York Trust Company, National Association, as Paying Agent
 34
    
    Attestation reports on assessment of compliance with servicing criteria for asset-backed
securities:
 
    
    JPMorgan Chase Bank, National Association, as Servicer
    
    Chase Home Finance LLC, as Subservicer
    
    The Bank of New York Trust Company, National Association, as Paying Agent
 35
    
    Servicer Compliance Statements
 
    
    JPMorgan Chase Bank, National Association, as Servicer
    
    Chase Home Finance LLC, as Subservicer
  
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SIGNATURES
  CHASE MORTGAGE FINANCE CORPORATION,
as depositorBy:
    /s/ Jerome A. CipponeriName:
    Jerome A. CipponeriTitle:
    President and CEO
(senior officer in charge of securitization of the depositor)  7




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INDEX TO EXHIBITS
 Exhibit Number
    
    Description4.1
    
    Pooling and Servicing Agreement (Filed as an exhibit to Form 8-K
on August 10, 2007)10.1
    
    Mortgage Loan Sale Agreement (Chase Home Finance LLC) (Filed as
an exhibit to Form 8-K on August 10, 2007)31
    
    Sarbanes-Oxley Certification of Chase Mortgage Finance
Corporation33.1
    
    JPMorgan Chase Bank, National Associations (JPMorgan) Report
on Assessment of Compliance with Servicing Criteria (Servicer)33.2
    
    Chase Home Finance LLCs (CHF) Report on Assessment of
Compliance with Servicing Criteria (Subservicer)33.3
    
    The Bank of New York Trust Company, National Associations
(BNY) Report on Assessment of Compliance with Servicing
Criteria (Paying Agent)34.1
    
    Report of Independent Registered Public Accounting Firm
(PriceWaterhouseCoopers LLP) (JPMorgan as Servicer)34.2
    
    Report of Independent Registered Public Accounting Firm
(PriceWaterhouseCoopers LLP) (CHF as Subservicer)34.3
    
    Report of Independent Registered Public Accounting Firm (Ernst &
Young) (BNY as Paying Agent)35.1
    
    Item 1123 Compliance Statement of JPMorgan Chase Bank, National
Association.35.2
    
    Item 1123 Compliance Statement of Chase Home Finance LLC
 8