Filed On 11/14/97 · SEC File 333-35653-02 · Accession Number 914121-97-394
As Of Filer Filing On/For/As Docs:Pgs Issuer Agent
11/14/97 Ditech Funding Corp Home...1997-1 8-K{5,7} 10/30/97 5:285 Cadwalader Wickersh..LLP
Document/Exhibit Description Pages Size
1: 8-K Current Report 5 17K
2: EX-4.1 Indenture 120± 570K
3: EX-4.2 Indenture 102± 456K
4: EX-99.1 Administration Agreement 13± 57K
5: EX-99.2 Trust Agreement 45± 207K
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: October 30, 1997
(Date of earliest event reported)
Commission File No. 333-35653
PAINEWEBBER MORTGAGE ACCEPTANCE CORPORATION IV (as depositor under the Sale and
Servicing Agreement, dated as of October 1, 1997, relating to the DiTech Home
Loan Owner Trust 1997-1, Home Loan Asset Backed Notes, Series 1997-1)
PAINEWEBBER MORTGAGE ACCEPTANCE CORPORATION IV
Delaware 06-1204982
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(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 October 30, 1997, DiTech Home Loan Owner Trust 1997-1 (the "Trust")
issued Home Loan Asset Backed Notes, Series 1997-1, Class A-1, Class A-2, Class
A-3, Class A-4, Class M-1 and Class M-2 (the "Offered Notes"), having an
aggregate original principal balance of $111,000,000. The Offered Notes were
issued pursuant to an Indenture, dated as of October 1, 1997 (the "Indenture")
between DiTech Home Loan Owner Trust 1997-1 (the "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 1997-1, Class
B-1 and Class B-2 having an aggregate initial principal balance of $9,000,000
(collectively, the "Private Notes" and, together with the Offered Certificates,
the "Notes"), were also issued pursuant to the Indenture. The Trust was formed
by PaineWebber Mortgage Acceptance Corporation IV, a Delaware corporation (the
"Registrant"), pursuant to a Trust Agreement, dated as of October 1, 1997 (the
"Trust Agreement") among the Registrant, DiTech Funding Corporation (the
"Transferor"), Bankers Trust (Delaware) (the "Owner Trustee") and BNY (in such
capacity, the "Paying Agent"), a copy of which is filed as an exhibit hereto.
The Notes are secured by the assets of the Trust, consisting principally of a
pool of closed-end, fixed-rate home loans (the "Loans") which are secured
primarily by junior-lien mortgages, deeds of trust or other similar security
instruments. The Loans were transferred to the Issuer by the Registrant pursuant
to a Sale and Servicing Agreement, dated as of October 1, 1997 (the "Sale and
Servicing Agreement") among the Trust, the Registrant, the Transferor and BNY, a
copy of which is filed as an exhibit hereto.
In addition, the Trust, the Transferor and BNY, as administrator of the
Trust have entered into an Administration Agreement, dated as of October 1, 1997
(the "Administration Agreement"), a copy of which is filed as an exhibit hereto.
Interest on the Offered Notes will be distributed on each Distribution Date
(as defined in the Sale and Servicing Agreement). Monthly distributions 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 October 1, 1997, between
DiTech Home Loan Owner Trust 1997-1 and The Bank
of New York.
(EX-4.2) Sale and Servicing Agreement, dated as of October
1, 1997, among PaineWebber Mortgage Acceptance
Corporation IV, DiTech Home Loan Owner Trust
1997-1, DiTech Funding Corporation and The Bank of
New York.
(EX-99.1) Administration Agreement, dated as of October 1,
1997, among DiTech Home Loan Owner Trust 1997-1,
DiTech Funding Corporation and The Bank of New
York.
(EX-99.2) Trust Agreement, dated as of October 1, 1997,
among PaineWebber Mortgage Acceptance Corporation
IV, DiTech Funding Corporation, Bankers Trust
Delaware 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
October 30, 1997
By: /s/ Barbara J. Dawson
---------------------
Barbara J. Dawson
Senior Vice President
INDEX TO EXHIBITS
Paper (P) or
Exhibit No. Description lectronic(E)
----------- ----------- ------------
(EX-4.1) Indenture, dated as of October 1, 1997, E
between DiTech Home Loan Owner
Trust 1997-1 and The Bank of New York.
(EX-4.2) Sale and Servicing Agreement, E
dated as of October 1, 1997, among
PaineWebber Mortgage Acceptance
Corporation IV, DiTech Home Loan
Owner Trust 1997-1, DiTech Funding
Corporation and The Bank of New York.
(EX-99.1) Administration Agreement, dated as of E
October 1, 1997, among DiTech Home Loan
Owner Trust 1997-1, DiTech Funding
Corporation and The Bank of New York.
(EX-99.2) Trust Agreement, dated as of October 1, E
1997, among PaineWebber Mortgage
Acceptance Corporation IV, DiTech Funding
Corporation, Bankers Trust Delaware 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 |
|---|
| |  |
| | 10/1/97 | | 1 | | 5 |
| For The Period Ended | | 10/30/97 | | 1 | | 4 |
| Filed On / Filed As Of | | 11/14/97 |
| | 11/19/97 |
| |
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