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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) MAY 25, 1999.
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PaineWebber Mortgage Acceptance Corp IV
Fremont Home Loan Owner Trust Series 1999-1
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(Exact name of registrant as specified in its charter)
Delaware 333-40467 51-6512656
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
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<S> <C> <C> <C> <C>
c/o First Union National Bank, 230 S. Tryon Street, 9th Floor, Charlotte, NC 28288-1179
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(Address of principal executive offices) (Zip Code)
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Registrant's telephone number, including area code (704) 383-9568
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(Former name or former address, if changed since last report.)
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Item 5. See the monthly statement to Bondholders attached as Exhibit 20.1 hereto
reflecting the required information for the MAY 1999 payment to the Fremont Home
Loan Asset-Backed Notes Series 1999-1
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
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<CAPTION>
Item 601 (a) of Regulation.
S-K Exhibit Number.
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<S> <C>
20.1 Monthly statement to holders of Fremont Home Loan Asset-Backed Notes
Series 1999-1 relating to the MAY 25, 1999 Payment Date.
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<PAGE> 3
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on behalf of Fremont
Home Loan Owner Trust Series 1999-1 by the undersigned thereunto duly
authorized.
Dated: JUNE 8, 1999 By: First Union National Bank, as Indenture
Trustee and on behalf of Fremont Home Loan
Owner Trust Series 1999-1
BY: Robert Ashbaugh
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Vice President
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EXHIBIT INDEX
20.1 Monthly statement to holders of Fremont Home Loan Asset-Backed Notes Series
1999-1 relating to the MAY 25, 1999 Payment Date.
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Fremont Home Loan Owner Trust 1999-1 Record Date: 4/30/99
Previous Distribution: 4/26/99
Statement to Certificateholder Distribution Date: 5/25/99
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<CAPTION>
====================================================================================================================================
Original Beginning Ending
Certificate Certificate Certificate Total Certificate
Class Cusip Rate Balance Balance Interest Principal Distribution Balance
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
A 35729BAA9 5.2375% 415,545,505.00 410,261,157.48 1,730,931.71 6,609,453.41 8,340,385.12 403,651,704.07
Factors
per Thousand 4.16544443 15.90548648 20.07093091 971.37786166
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Totals 415,545,505.00 410,261,157.48 1,730,931.71 6,609,453.41 8,340,385.12 403,651,704.07
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First Union National Bank Robert Ashbaugh
Structured Finance Trust Services Vice President
230 South Tryon Street, 9th Floor Phone: 704-383-9568
Charlotte, North Carolina 28288-1179 Fax: 704-383-6039
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Fremont Home Loan Owner Trust 1999-1 Record Date: 4/30/99
Previous Distribution: 4/26/99
Statement to Certificateholder Distribution Date: 5/25/99
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<CAPTION>
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Schedule of Remittance Collateral Information
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<S> <C> <C> <C>
Available Collection Amount 8,582,420.38 Aggregate Beginning Balance of Loans 411,431,560.30
(Trust Fees and Expenses) (242,035.26) Aggregate Ending Balance of Loans 406,109,366.95
Available Payment Amount 8,340,385.12 Interest Carry-Forward 0.00
Regular Payment 8,340,385.12 Net Loan Losses 0.00
Excess Spread - Net Loan Losses - Aggregate 0.00
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Overcollateralization Amount 2,457,662.88
Overcollateralization Deficiency Amount 14,164,157.32
Overcollateralization Target Amount 16,621,820.20
Fees Principal Prepayments 14,503.07
Servicer Fee 120,000.87 Scheduled Principal 203,831.87
Master Servicer Fee 51,428.95 Securities Insurer Reimbursement 0.00
Indenture Trustee Fee 2,228.59 Six Month Average Delinquency 0.00%
Guaranty Insurance Premium 68,376.86 Three Month Average Annualized Losses 0.00%
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Total Fees 242,035.26 Trigger Event? No
Unpaid Securities Insurer Reimbursement 0.00
Weighted Average Home Loan Interest Rate (WAC) 9.8594%
Weighted Average Maturity (WAM) 359.27
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First Union National Bank Robert Ashbaugh
Structured Finance Trust Services Vice President
230 South Tryon Street, 9th Floor Phone: 704-383-9568
Charlotte, North Carolina 28288-1179 Fax: 704-383-6039
<PAGE> 3
Fremont Home Loan Owner Trust 1999-1 Record Date: 4/30/99
Previous Distribution: 4/26/99
Statement To Certificateholder Distribution Date: 5/25/99
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<CAPTION>
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AGGREGATE ENDING BALANCE OF LOANS DELINQUENT INFOR. # LOANS AMOUNT %
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<C> <C> <C> <C> <C>
$ 406,109,366.95 Delinquent 0-30 Days 12 981,264.02 0.241626%
Delinquent 31-60 Days 51 4,856,207.64 1.195788%
Delinquent 61-90 Days 16 1,286,739.85 0.316846%
Loans in Foreclosure 1 125,242.76 0.030840%
Bankruptcy Loans 1 115,759.40 0.028504%
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DELINQUENT INFOR. # LOANS AMOUNT CUMULATIVE
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Defaulted Home Loans 0 0.00 0.00
Liquidated Home Loans 37 5,108,450.81 0.00
Deleted Home Loans 0 0.00 0.00
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==============================================================================================================================
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First Union National Bank Robert Ashbaugh
Structured Finance Trust Services Vice President
230 South Tryon Street, 9th Floor Phone: 704-383-9568
Charlotte, North Carolina 28288-1179 Fax: 704-383-6039
