Filed On 7/10/98 · SEC File 333-51375-01 · Accession Number 914121-98-506
As Of Filer Filing On/For/As Docs:Pgs Issuer Agent
7/10/98 Painewebber Mort Accept C..1998-1 8-K{5,7} 6/30/98 6:323 Cadwalader Wickersh..LLP
Document/Exhibit Description Pages Size
1: 8-K Current Report 5 19K
2: EX-4.1 Indenture 126± 618K
3: EX-4.2 Sales and Servicing Agreement 94± 419K
4: EX-99.1 Administration Agreement 13± 66K
5: EX-99.2 Owner Trust Agreement 44± 203K
6: EX-99.3 Grantor Trust Agreement 41± 179K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: June 30, 1998
(Date of earliest event reported)
Commission File No. 333-51375
PAINEWEBBER MORTGAGE ACCEPTANCE CORPORATION IV (as depositor under the Sale and
Servicing Agreement, dated as of June 1, 1998, relating to the DiTech Home Loan
Owner Trust 1998-1, Home Loan Asset Backed Notes, Series 1998-1)
PAINEWEBBER MORTGAGE ACCEPTANCE CORPORATION IV
Delaware 06-1204982
--------------------------------------------------------------------------------
(State of Incorporation) (I.R.S. Employer Identification No.)
1285 Avenue of the Americas
New York, New York 10019
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(Address of principal executive offices) (Zip Code)
(212) 713-2000
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(Registrant's Telephone Number, including area code)
--------------------------------------------------------------------------------
(Former name, former address and former fiscal year, if changed since last
report)
ITEM 5. Other Events
On June 30, 1998, DiTech Home Loan Owner Trust 1998-1 (the "Owner Trust")
issued Home Loan Asset Backed Notes, Series 1998-1, Class A-1, Class A-2, Class
A-3, Class A-4, Class A-5, Class M-1, Class M-2, and Class B-1 (the "Offered
Notes"), having an aggregate original principal balance of $243,712,500. The
Offered Notes were issued pursuant to an Indenture, dated as of June 1, 1998
(the "Indenture") between DiTech Home Loan Owner Trust 1998-1 (the "Owner
Trust") and The Bank of New York ("BNY," in such capacity, the "Indenture
Trustee"), a copy of which is filed as an exhibit hereto. Home Loan Asset Backed
Notes, Series 1998-1, Class B-2 having an aggregate initial principal balance of
$7,537,500 (the "Private Notes" and, together with the Offered Notes, the
"Notes"), were also issued pursuant to the Indenture. The Owner Trust was formed
by PaineWebber Mortgage Acceptance Corporation IV, a Delaware corporation (the
"Registrant"), pursuant to an Owner Trust Agreement, dated as of June 1, 1998
(the "Owner Trust Agreement") among the Registrant, DiTech Funding Corporation
(the "Transferor") and Bankers Trust (Delaware) (the "Owner Trustee"), a copy of
which is filed as an exhibit hereto. The Notes are secured by the assets of the
Owner Trust, consisting of a grantor trust certificate (the "Grantor Trust
Certificate") evidencing 100% of the beneficial ownership interests in DiTech
Grantor Trust 1998-1 (the "Grantor Trust"). The Grantor Trust was established
pursuant to a Grantor Trust Agreement dated as of June 1, 1998 (the "Grantor
Trust Agreement") among the Registrant, BNY, as grantor trustee (in such
capacity, the "Grantor Trustee") and the Transferor, a copy of which is filed as
an exhibit hereto. The assets of the Grantor Trust consist primarily of a pool
(the "Pool") of closed-end, fixed-rate home loans (the "Loans"), substantially
all of which are secured primarily by junior-lien mortgages, deeds of trust or
other similar security instruments. The Grantor Trust Certificate was sold by
the Registrant to the Owner Trust pursuant to a Sale and Servicing Agreement
dated as of June 1, 1998 (the "Sale and Servicing Agreement") among the Owner
Trust, as issuer, the Registrant, BNY, as indenture trustee (in such capacity,
the "Indenture Trustee"), DiTech Funding Corporation, as servicer and transferor
and the Grantor Trustee, a copy of which is filed as an exhibit hereto.
In addition, the Owner Trust and BNY, as administrator of the Owner Trust
have entered into an Administration Agreement, dated as of June 1, 1998 (the
"Administration Agreement"), a copy of which is filed as an exhibit hereto.
Interest on the Offered Notes will be distributed on each Payment Date (as
defined in the Sale and Servicing Agreement). Monthly payments in reduction of
the principal balance of the Offered Notes will be allocated to the Offered
Notes in accordance with the priorities set forth in the Sale and Servicing
Agreement.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits
Item 601(a)
of Regulation S-K
Exhibit No. Description
----------- -----------
(EX-4.1) Indenture, dated as of June 1, 1998, between
DiTech Home Loan Owner Trust 1998-1 and The Bank
of New York.
(EX-4.2) Sale and Servicing Agreement, dated as of June 1,
1998, among PaineWebber Mortgage Acceptance
Corporation IV, DiTech Home Loan Owner Trust
1998-1, DiTech Funding Corporation and The Bank of
New York.
(EX-99.1) Administration Agreement, dated as of June 1,
1998, among DiTech Home Loan Owner Trust 1998-1,
DiTech Funding Corporation and The Bank of New
York.
(EX-99.2) Owner Trust Agreement, dated as of June 1, 1998,
among PaineWebber Mortgage Acceptance Corporation
IV, DiTech Funding Corporation, Bankers Trust
(Delaware) and The Bank of New York.
(EX-99.3) Grantor Trust Agreement, dated as of June 1, 1998
among PaineWebber Mortgage Acceptance Corporation
IV, DiTech Funding Corporation and The Bank of New
York.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PAINEWEBBER MORTGAGE ACCEPTANCE CORPORATION IV
July 8, 1998
By: /s/ Barbara Dawson
------------------
Barbara Dawson
Senior Vice President
INDEX TO EXHIBITS
· Download Table
Paper (P) or
Exhibit No. Description Electronic(E)
----------- ----------- -------------
(EX-4.1) Indenture, dated as of June 1, 1998, between E
DiTech Home Loan Owner Trust 1998-1 and The Bank
of New York.
(EX-4.2) Sale and Servicing Agreement, dated as of June 1, E
1998, among PaineWebber Mortgage Acceptance
Corporation IV, DiTech Home Loan Owner Trust
1998-1, DiTech Funding Corporation and The Bank of
New York.
(EX-99.1) Administration Agreement, dated as of June 1, E
1998, among DiTech Home Loan Owner Trust 1998-1,
DiTech Funding Corporation and The Bank of New
York.
(EX-99.2) Owner Trust Agreement, dated as of June 1, 1998, E
among PaineWebber Mortgage Acceptance Corporation
IV, DiTech Funding Corporation, Bankers Trust
(Delaware) and The Bank of New York.
(EX-99.3) Grantor Trust Agreement, dated as of June 1, 1998 E
among PaineWebber Mortgage Acceptance Corporation
IV, DiTech Funding Corporation and The Bank of New
York.
Dates Referenced Herein and Documents Incorporated By Reference
| Referenced-On Page |
|---|
| This 8-K Filing | | Date | | First | | Last | | | Other Filings |
|---|
| |  |
| | 6/1/98 | | 1 | | 5 |
| For The Period Ended | | 6/30/98 | | 1 | | 2 | | | 424B5 |
| | 7/8/98 | | 4 |
| Filed On / Filed As Of | | 7/10/98 |
| | 7/15/98 | | | | | | | 8-K |
| |
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