Regulates ATP-dependent protein translocation into the mitochondrial matrix. Inhibits DNAJC19 stimulation of HSPA9/Mortalin ATPase activity. Probable component of the PAM complex at least composed of a mitochondrial HSP70 protein, GRPEL1 or GRPEL2, TIMM44, TIMM16/PAM16 and TIMM14/DNAJC19 (By similarity). Interacts with DNAJC19. Directly interacts with DNAJC15; this interaction counteracts DNAJC15-dependent stimulation of HSPA9 ATPase activity (By similarity). Associates with the TIM23 complex (Probable). Expressed in trabecular bone and cartilage and by differentiated chondrocytes localized in the hypertrophic zone and by osteoblasts at early developmental stages. The J-like region, although related to the J domain does not have co-chaperone activity. Belongs to the TIM16/PAM16 family.