Item 1. Business.
The Registrant is a common law trust created under the laws of the State of New York created by ETFC Asset Funding Corporation, a Nevada corporation ("ETAFC"), formerly Deutsche Recreational Asset Funding Corporation. The Registrant was formed for limited purposes, which include the purchase of receivables, including recreational vehicle installment sales contracts or installment loans originated by E*TRADE Consumer Finance Corporation ("ETCF"), Nevada corporation, or acquired by ETCF from time-to-time in financing arrangements among ETCF and or/its affiliates, including ETAFC, with certain dealers to finance marine equipment vehicle sales and any activities incidental to and necessary or convenient for the accomplishment of such purposes. ETCF is a subsidiary of E*TRADE Bank, whose ultimate parent Company is E*TRADE Financial Corporation.
In accordance with its stated business purposes, the Registrant formed Distribution Financial Services Marine Trust 1999-2, ("Marine Trust 1999-2") pursuant to a Transfer and Servicing Agreement, dated as of May 1, 1999, among the Marine Trust 1999-2, as Issuer, ETAFC, as Depositor, and ETCF, as Servicer To facilitate the issuance of notes, the Registrant, as Depositor, and Norwest Bank Minnesota, National Association, as Owner Trustee, entered into a Trust Agreement, as amended and restated as of May 1, 1999. In addition, as of May 1, 1999, the Marine Trust 1999-2, as Issuer, entered into an Indenture with The Chase Manhattan Bank, as Indenture Trustee. The Marine Trust 1999-2 assets consist primarily of receivables, which include recreational sport and power boat and yacht installment sales contracts or installment loans originated by ETCF or acquired by ETCF from time-to-time in financing arrangements among ETCF and/or its affiliates with certain dealers to finance marine equipment vehicle sales. The Marine Trust 1999-2 has issued various classes of notes secured by the assets contained in Marine Trust 1999-2.
Item 3.
Item 3. Legal Proceedings.*
None
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders.*
None
PART II
Item 5.
Item 5. Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities.*
As of December 31, 2004, the Marine Trust 1999-2 had $79,701,719 of such Notes outstanding bearing the following identifications:
Item 9A.
Item 9A. Controls and Procedures.**
	Not Applicable to Asset-Backed Issuers
Item 14.
Item 14. Principal Accountant Fees and Services.**
	Not Applicable to Asset-Backed Issuers
PART IV
Item 15.
Item 15. Exhibits and Financial Statement Schedules.*
(a) Financial Statements.
The Registrant includes as exhibits hereto the Report of Independent Registered Public Accounting Firm on compliance with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Brokers with respect to the Notes issued and outstanding by Distribution Financial Services Marine Trust 1999-2.
SIGNATURES
Pursuant to the requirements of Section 13 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.
DISTRIBUTION FINANCIAL SERVICES MARINE TRUST 1999-2
By: Wells Fargo, National Association. Not in its individual capacity but solely as Owner Trustee
By: /s/ Sue Dignan -------------- Assistant Vice President
March 14, 2005