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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
February 25, 1998
Date of Report (Date of Earliest Event Reported)
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
(Exact Name of Registrant as Specified in Its Charter)
Delaware 333-35653 06-1204982
(State or Other Jurisdiction (Commission File (I.R.S. Employer
of Incorporation) Number) Identification No.)
1285 Avenue of the Americas, New York, NY 10019
(Address of Principal Executive Offices)
(212) 713-2000
(Registrant's Telephone Number,
Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)<PAGE>
<PAGE> 1
Item 5. OTHER EVENTS
PaineWebber Mortgage Acceptance Corporation IV (the "Registrant")
has previously registered the offer and sale of the Home Loan Asset
Backed Notes, Series 1997-1 (the "Notes") issued by DiTech Home Loan
Owner Trust 1997-1.
The following exhibits which relate specifically to the Notes are
included with this Current Report:
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibits
99.1 Monthly Payment Date Statement distributed to
Noteholders for the November 17, 1997 payment date.
99.2 Monthly Payment Date Statement distributed to
Noteholders for the December 15, 1997 payment date.
99.3 Monthly Payment Date Statement distributed to
Noteholders for the January 15, 1998 payment date.
<PAGE> 2
SIGNATURE
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 thereunto duly authorized.
Date: February 25, 1998
PAINEWEBBER MORTGAGE
ACCEPTANCE CORPORATION IV
By: /s/Barbara J. Dawson
---------------------
Barbara J. Dawson
<PAGE> 3
EXHIBIT INDEX
Exhibit Number Description
- -------------- -----------
99.1 Monthly Payment Date Statement distributed to
Noteholders for the November 17, 1997 payment
date.
99.2 Monthly Payment Date Statement distributed to
Noteholders for the December 15, 1997 payment
date.
99.3 Monthly Payment Date Statement distributed to
Noteholders for the January 15, 1998 payment
date.
<TABLE>
Page Number: 1
Payment Date: 11/17/97
101 Barclay Street, 12E
New York, NY 10286
Attn: Frank Austin, MBS Unit
(212) 815-2297
DiTech Home Loan Owner Trust 1997-1
Home Loan Asset Backed Notes, Series 1997-1
Current Payment Information
<CAPTION>
Class Information
Beginning Alloc- Ending
Class Optimal Interest able Class
Principal Pass-Thru Principal Interest Total Principal Carry- Loss Principal
Class Code Name Balance Rate Distribution Distribution Distribution Balance forward Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 24,636,000.00 5.7562500% 550,649.06 70,905.49 621,554.55 0.00 0.00 0.00 24,085,350.94
A-2 22,945,000.00 6.5900000% 0.00 126,006.29 126,006.29 0.00 0.00 0.00 22,945,000.00
A-3 24,897,000.00 6.7100000% 0.00 139,215.73 139,215.73 0.00 0.00 0.00 24,897,000.00
A-4 13,622,000.00 7.3600000% 0.00 83,548.27 83,548.27 0.00 0.00 0.00 13,622,000.00
M-1 17,700,000.00 7.2500000% 0.00 106,937.50 106,937.50 0.00 0.00 0.00 17,700,000.00
M-2 7,200,000.00 7.3500000% 0.00 44,100.00 44,100.00 0.00 0.00 0.00 7,200,000.00
B-1 6,300,000.00 7.6900000% 0.00 40,372.50 40,372.50 0.00 0.00 0.00 6,300,000.00
B-2 2,700,000.00 8.8500000% 0.00 19,912.50 19,912.50 0.00 0.00 0.00 2,700,000.00
Residual 0.00 0.0000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Totals 120,000,000.00 - 550,649.06 630,998.27 1,181,647.33 0.00 0.00 0.00 119,449,350.94
<CAPTION>
Original Class Information Factors per $1,000
Class Information
Original Pass-Thru Cusip Principal Interest Ending
Type Name Class Balance Rate Numbers Distribution Distribution Class Balance
<S> <C> <C> <C> <C> <C> <C>
Senior A-1 24,636,000.00 Floating 25500P-AA4 22.3513987345 2.8781250000 977.6486012655
A-2 22,945,000.00 6.590000% 25500P-AB2 0.0000000000 5.4916666667 1000.0000000000
A-3 24,897,000.00 6.710000% 25500P-AC0 0.0000000000 5.5916666667 1000.0000000000
A-4 13,622,000.00 7.360000% 25500P-AD8 0.0000000000 6.1333333333 1000.0000000000
Mezzanine M-1 17,700,000.00 7.250000% 25500P-AE6 0.0000000000 6.0416666667 1000.0000000000
M-2 7,200,000.00 7.350000% 25500P-AF3 0.0000000000 6.1250000000 1000.0000000000
Subordinate B-1 6,300,000.00 7.690000% 25500P-AG1 0.0000000000 6.4083333333 1000.0000000000
B-2 2,700,000.00 8.850000% 25500P-AH9 0.0000000000 7.3750000000 1000.0000000000
Totals 120,000,000.00 - - 4.5887421602 5.2583189236 995.4112578398
</TABLE>
<PAGE>
<TABLE>
Page Number: 2
Payment Date: 11/17/97
101 Barclay Street, 12E
New York, NY 10286
Attn: Frank Austin, MBS Unit
(212) 815-2297
DiTech Home Loan Owner Trust 1997-1
Home Loan Asset Backed Notes, Series 1997-1
<CAPTION>
COLLATERAL INFORMATION
<S> <C>
Number of Loans in Pool 2130
Pool Principal Balance as of first day of Due Period 89,074,845.24
Scheduled Principal Payments during Due Period 66,679.13
Principal Prepayments during Due Period 284,362.64
Pool Principal Balance as of last day of Due Period 88,723,803.47
CumulativePrincipal Prepayments since Cut-off Date 284,362.64
Weighted Average Maturity of the Home Loans 261
Weighted Average Interest Rate of the Home Loans 13.348800%
Gross Interest Collected On Loans 724,962.02
Available Collection Amount 1,238,618.12
Less Expense Fees:
Servicing Compensation 55,671.78
Indenture Trustee Fee 1,299.01
Owner Trustee Fee 0.00
Custodian Fee 0.00
Available Distribution Amount 1,181,647.33
OVERCOLLATERALIZATION
Overcollateralization Target Amount 4,800,000.00
Overcollateralization Amount 199,607.29
Overcollateralization Deficiency Amount 4,600,392.71
OTHER INFORMATION
Net Loan Losses 0.00
Allocable Loss Amount 0.00
</TABLE>
<PAGE>
<TABLE>
Page Number: 3
Payment Date: 11/17/97
101 Barclay Street, 12E
New York, NY 10286
Attn: Frank Austin, MBS Unit
(212) 815-2297
DiTech Home Loan Owner Trust 1997-1
Home Loan Asset Backed Notes, Series 1997-1
<CAPTION>
DELINQUENCY INFORMATION
Aggregate
Number Principal
Days Delinquent of Loans Balance
<S> <C> <C>
30 Days 5 176,566.67
60 Days 0 0.00
90 Days 0 0.00
Totals 5 176,566.67
<CAPTION>
Aggregate
Number Principal Book
Delinquent Status of Loans Balance Percent Value
<S> <C> <C> <C> <C>
In Foreclosure Proceedings 0 0.00 0 0
In Bankruptcy Proceedings 0 0.00 0 0
Foreclosure Properties 0 0.00 0 0
60-Day Delinquent Amount 0.00
Six-Month Rolling Delinquency Average 0.00
<CAPTION>
During Related Due Period
Aggregate
Number Principal
of Loans Balance
<S> <C> <C>
Defaulted Home Loans 0 0
Liquidated Home Loans 0 0
Deleted Home Loans due to being Defective 0 0
Deleted Home Loans due to being Defaulted 0 0
<CAPTION>
Cumulative Since Closing Date
Aggregate
Number Principal
of Loans Balance
<S> <C> <C>
Defaulted Home Loans 0 0
Liquidated Home Loans 0 0
Deleted Home Loans due to being Defective 0 0
Deleted Home Loans due to being Defaulted 0 0
</TABLE>
<TABLE>
Page Number: 1
Payment Date: 12/15/97
101 Barclay Street, 12E
New York, NY 10286
Attn: Frank Austin, MBS Unit
(212) 815-2297
DiTech Home Loan Owner Trust 1997-1
Home Loan Asset Backed Notes, Series 1997-1
Current Payment Information
<CAPTION>
Class Information
Beginning Alloc- Ending
Class Optimal Interest able Class
Principal Pass-Thru Principal Interest Total Principal Carry- Loss Principal
Class Code Name Balance Rate Distribution Distribution Distribution Balance forward Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 24,085,350.94 5.787500% 1,021,139.86 108,417.53 1,129,557.39 0.00 0.00 0.00 23,064,211.09
A-2 22,945,000.00 6.590000% 0.00 126,006.29 126,006.29 0.00 0.00 0.00 22,945,000.00
A-3 24,897,000.00 6.710000% 0.00 139,215.73 139,215.73 0.00 0.00 0.00 24,897,000.00
A-4 13,622,000.00 7.360000% 0.00 83,548.27 83,548.27 0.00 0.00 0.00 13,622,000.00
M-1 17,700,000.00 7.250000% 0.00 106,937.50 106,937.50 0.00 0.00 0.00 17,700,000.00
M-2 7,200,000.00 7.350000% 0.00 44,100.00 44,100.00 0.00 0.00 0.00 7,200,000.00
B-1 6,300,000.00 7.690000% 0.00 40,372.50 40,372.50 0.00 0.00 0.00 6,300,000.00
B-2 2,700,000.00 8.850000% 0.00 19,912.50 19,912.50 0.00 0.00 0.00 2,700,000.00
Residual 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Totals 119,449,350.94 - 1,021,139.86 668,510.31 1,689,650.17 0.00 0.00 0.00 118,428,211.09
<CAPTION>
Original Class Information Factors per $1,000
Class Information
Original Pass-Thru Cusip Principal Interest Ending
Type Name Class Balance Rate Numbers Distribution Distribution Class Balance
<S> <C> <C> <C> <C> <C> <C>
Senior A-1 24,636,000.00 Floating 25500P-AA4 41.4490930254 4.4007765510 936.1995082401
A-2 22,945,000.00 6.590000% 25500P-AB2 0.0000000000 5.4916666667 1000.0000000000
A-3 24,897,000.00 6.710000% 25500P-AC0 0.0000000000 5.5916666667 1000.0000000000
A-4 13,622,000.00 7.360000% 25500P-AD8 0.0000000000 6.1333333333 1000.0000000000
Mezzanine M-1 17,700,000.00 7.250000% 25500P-AE6 0.0000000000 6.0416666667 1000.0000000000
M-2 7,200,000.00 7.350000% 25500P-AF3 0.0000000000 6.1250000000 1000.0000000000
Subordinate B-1 6,300,000.00 7.690000% 25500P-AG1 0.0000000000 6.4083333333 1000.0000000000
B-2 2,700,000.00 8.850000% 25500P-AH9 0.0000000000 7.3750000000 1000.0000000000
Totals 120,000,000.00 - - 8.5094987981 5.5709192870 986.9017590417
</TABLE>
<PAGE>
<TABLE>
Page Number: 2
Payment Date: 12/15/97
101 Barclay Street, 12E
New York, NY 10286
Attn: Frank Austin, MBS Unit
(212) 815-2297
DiTech Home Loan Owner Trust 1997-1
Home Loan Asset Backed Notes, Series 1997-1
<CAPTION>
COLLATERAL INFORMATION
<S> <C>
Number of Loans in Pool 2112
Pool Principal Balance as of first day of Due Period 88,729,881.37
Scheduled Principal Payments during Due Period 57,676.46
Principal Prepayments during Due Period 559,591.68
Pool Principal Balance as of last day of Due Period 88,112,693.08
CumulativePrincipal Prepayments since Cut-off Date 843,954.32
Weighted Average Maturity of the Home Loans 260
Weighted Average Interest Rate of the Home Loans 13.349099%
Gross Interest Collected On Loans 957,918.27
Available Collection Amount 1,746,400.32
Less Expense Fees:
Servicing Compensation 55,456.18
Indenture Trustee Fee 1,293.98
Owner Trustee Fee 0.00
Custodian Fee 0.00
Available Distribution Amount 1,689,650.17
OVERCOLLATERALIZATION
Overcollateralization Target Amount 4,800,000.00
Overcollateralization Amount 609,636.75
Overcollateralization Deficiency Amount 4,190,363.25
OTHER INFORMATION
Net Loan Losses 0.00
Allocable Loss Amount 0.00
</TABLE>
<PAGE>
<TABLE>
Page Number: 3
Payment Date: 12/15/97
101 Barclay Street, 12E
New York, NY 10286
Attn: Frank Austin, MBS Unit
(212) 815-2297
DiTech Home Loan Owner Trust 1997-1
Home Loan Asset Backed Notes, Series 1997-1
<CAPTION>
DELINQUENCY INFORMATION
Aggregate
Number Principal
Days Delinquent of Loans Balance
<S> <C> <C>
30 Days 9 328,942.29
60 Days 1 34,972.75
90 Days 0 0.00
Totals 10 363,915.04
<CAPTION>
Aggregate
Number Principal Book
Delinquent Status of Loans Balance Percent Value
<S> <C> <C> <C> <C>
In Foreclosure Proceedings 0 0.00 0 0
In Bankruptcy Proceedings 0 0.00 0 0
Foreclosure Properties 0 0.00 0 0
60-Day Delinquent Amount 34,972.75
Six-Month Rolling Delinquency Average 17,486.38
<CAPTION>
During Related Due Period
Aggregate
Number Principal
of Loans Balance
<S> <C> <C>
Defaulted Home Loans 0 0
Liquidated Home Loans 0 0
Deleted Home Loans due to being Defective 0 0
Deleted Home Loans due to being Defaulted 0 0
<CAPTION>
Cumulative Since Closing Date
Aggregate
Number Principal
of Loans Balance
<S> <C> <C>
Defaulted Home Loans 0 0
Liquidated Home Loans 0 0
Deleted Home Loans due to being Defective 0 0
Deleted Home Loans due to being Defaulted 0 0
</TABLE>
<TABLE>
Page Number: 1
Payment Date: 01/15/98
101 Barclay Street, 12E
New York, NY 10286
Attn: Frank Austin, MBS Unit
(212) 815-2297
DiTech Home Loan Owner Trust 1997-1
Home Loan Asset Backed Notes, Series 1997-1
Current Payment Information
<CAPTION>
Class Information
Beginning Alloc- Ending
Class Optimal Interest able Class
Principal Pass-Thru Principal Interest Total Principal Carry- Loss Principal
Class Code Name Balance Rate Distribution Distribution Distribution Balance forward Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 23,064,211.09 6.080470% 950,810.72 120,763.29 1,071,574.01 0.00 0.00 0.00 22,113,400.37
A-2 22,945,000.00 6.590000% 0.00 126,006.29 126,006.29 0.00 0.00 0.00 22,945,000.00
A-3 24,897,000.00 6.710000% 0.00 139,215.73 139,215.73 0.00 0.00 0.00 24,897,000.00
A-4 13,622,000.00 7.360000% 0.00 83,548.27 83,548.27 0.00 0.00 0.00 13,622,000.00
M-1 17,700,000.00 7.250000% 0.00 106,937.50 106,937.50 0.00 0.00 0.00 17,700,000.00
M-2 7,200,000.00 7.350000% 0.00 44,100.00 44,100.00 0.00 0.00 0.00 7,200,000.00
B-1 6,300,000.00 7.690000% 0.00 40,372.50 40,372.50 0.00 0.00 0.00 6,300,000.00
B-2 2,700,000.00 8.850000% 0.00 19,912.50 19,912.50 0.00 0.00 0.00 2,700,000.00
Residual 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Totals 118,428,211.09 - 950,810.72 680,856.08 1,631,666.79 0.00 0.00 0.00 117,477,400.37
<CAPTION>
Original Class Information Factors per $1,000
Class Information
Original Pass-Thru Cusip Principal Interest Ending
Type Name Class Balance Rate Numbers Distribution Distribution Class Balance
<S> <C> <C> <C> <C> <C> <C>
Senior A-1 24,636,000.00 Floating 25500P-AA4 38.59436256 4.90190344 897.60514568
A-2 22,945,000.00 6.590000% 25500P-AB2 0.00000000 5.49166667 1000.00000000
A-3 24,897,000.00 6.710000% 25500P-AC0 0.00000000 5.59166667 1000.00000000
A-4 13,622,000.00 7.360000% 25500P-AD8 0.00000000 6.13333333 1000.00000000
Mezzanine M-1 17,700,000.00 7.250000% 25500P-AE6 0.00000000 6.04166667 1000.00000000
M-2 7,200,000.00 7.350000% 25500P-AF3 0.00000000 6.12500000 1000.00000000
Subordinate B-1 6,300,000.00 7.690000% 25500P-AG1 0.00000000 6.40833333 1000.00000000
B-2 2,700,000.00 8.850000% 25500P-AH9 0.00000000 7.37500000 1000.00000000
Totals 120,000,000.00 - - 7.92342263 5.67380064 978.97833641
</TABLE>
<PAGE>
<TABLE>
Page Number: 2
Payment Date: 01/15/98
101 Barclay Street, 12E
New York, NY 10286
Attn: Frank Austin, MBS Unit
(212) 815-2297
DiTech Home Loan Owner Trust 1997-1
Home Loan Asset Backed Notes, Series 1997-1
<CAPTION>
COLLATERAL INFORMATION
<S> <C>
Number of Loans in Pool 2732
Pool Principal Balance as of first day of Due Period 119,009,851.68
Scheduled Principal Payments during Due Period 76,755.20
Principal Prepayments during Due Period 569,907.33
Pool Principal Balance as of last day of Due Period 118,363,189.15
CumulativePrincipal Prepayments since Cut-off Date 1,413,861.65
Weighted Average Maturity of the Home Loans 259
Weighted Average Interest Rate of the Home Loans 0.1326176
Gross Interest Collected On Loans 1,033,124.82
Available Collection Amount 1,707,783.51
Less Expense Fees:
Servicing Compensation 74,381.16
Indenture Trustee Fee 1,735.56
Owner Trustee Fee 0.00
Custodian Fee 0.00
Available Distribution Amount 1,631,666.79
OVERCOLLATERALIZATION
Overcollateralization Target Amount 4,800,000.00
Overcollateralization Amount 913,784.94
Overcollateralization Deficiency Amount 3,886,215.06
OTHER INFORMATION
Net Loan Losses 0.00
Allocable Loss Amount 0.00
</TABLE>
<PAGE>
<TABLE>
Page Number: 3
Payment Date: 01/15/98
101 Barclay Street, 12E
New York, NY 10286
Attn: Frank Austin, MBS Unit
(212) 815-2297
DiTech Home Loan Owner Trust 1997-1
Home Loan Asset Backed Notes, Series 1997-1
<CAPTION>
DELINQUENCY INFORMATION
Aggregate
Number Principal
Days Delinquent of Loans Balance
<S> <C> <C>
30 Days 12 391,960.07
60 Days 5 190,516.79
90 Days 1 34,972.75
Totals 18 617,449.61
<CAPTION>
Aggregate
Number Principal Book
Delinquent Status of Loans Balance Percent Value
<S> <C> <C> <C> <C>
In Foreclosure Proceedings 0 0.00 0 0
In Bankruptcy Proceedings 0 0.00 0 0
Foreclosure Properties 0 0.00 0 0
60-Day Delinquent Amount 225,489.54
Six-Month Rolling Delinquency Average 86,820.76
<CAPTION>
During Related Due Period
Aggregate
Number Principal
of Loans Balance
<S> <C> <C>
Defaulted Home Loans 0.00 0
Liquidated Home Loans 0.00 0
Deleted Home Loans due to being Defective 0.00 0
Deleted Home Loans due to being Defaulted 0.00 0
<CAPTION>
Cumulative Since Closing Date
Aggregate
Number Principal
of Loans Balance
<S> <C> <C>
Defaulted Home Loans 0.00 0
Liquidated Home Loans 0.00 0
Deleted Home Loans due to being Defective 0.00 0
Deleted Home Loans due to being Defaulted 0.00 0
</TABLE>
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