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 (date of earliest event reported): 01/25/00
PAINEWEBBER MORTGAGE ACCEPTANCE CORPORATION IV
"(as depositor under the Sale and Servicing Agreement, dated as of"
"April 1, 1999, relating to the Empire Funding Home Loan Owner Trust 1999-1,"
"Home Loan Asset Backed Notes, Series 1999-1)"
PAINEWEBBER MORTGAGE ACCEPTANCE CORPORATION IV
(Exact name of registrant as specified in its charter)
Delaware 333-61785 06-1204982
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
1285 Avenue of the Americas
"New York, New York 10285 " 10019
(Address of Principal Executive Offices) (Zip Code)
"Registrant's telephone number, including area code: (212) 713-2000"
Item 5. Other Events
"On behalf of Empire Funding Home Loan Owner Trust 1999-1, Home Loan Asset"
"Backed Notes, Series 1999-1, a Trust created pursuant to the Sale"
"and Servicing Agreement, dated April 1, 1999, by U.S. Bank"
"National Association d.b.a. First Bank National Association, as"
"Indenture Trustee for the Trust, the Indenture Trustee has caused to be "
"filed with the Commission, the monthly report dated"
01/25/00 .
The Monthly Report is filed pursuant to and in accordance with (1)
numerous no-action letters and (2) current Commission policy in the area.
The filing of the Monthly Report will occur subsequent to each monthly
distribution to the holders of the Certificates.
A. Monthly Report Information
See Exhibit No.1
B. Have and deficiencies occurred? NO.
Date:
Amount:
C. Item 1: Legal Proceedings: NONE
D. Item 2: Changes in Securities: NONE
E. Item 4: Submission of Matters to a Vote of Certificateholders: NONE
"F. Item 5: Other Information - Form 10-Q, PartII - Items 1,2,4,5"
if applicable: NOT APPLICABLE
Item 7. Monthly Statements and Exhibits
Exhibit No. 1
1. Monthly Distribution Report
EMPIRE FUNDING HOME LOAN OWNER TRUST 1999-1
0
DISTRIBUTION STATEMENT
Distribution Date: 01/25/00
Beginning Ending
Certificate Principal Interest Total Certificate
Class Balance Distribution Distribution Distribution Balance
A-1 35552986.04 3117427.19 191350.37 3308777.56 32435558.85
A-2 35032000 0 183626.07 183626.07 35032000
A-3 29161000 0 156497.37 156497.37 29161000
A-4 30168000 0 171454.8 171454.8 30168000
A-5 15890000 0 97723.5 97723.5 15890000
M-1 28125000 0 188203.13 188203.13 28125000
M-2 16250000 0 121875 121875 16250000
B-1 19375000 0 145312.5 145312.5 19375000
B-2 16250000 0 121875 121875 16250000
Total 225803986 3117427.19 1377917.74 4495344.93 222686558.9
Payment of Loss Interest Allocable
Reimbursement Carry Forward Reimbursement Carry Forward Loss
Class Deficiency Amount Amount
A-1 NA 0 NA
A-2 NA 0 NA
A-3 NA 0 NA
A-4 NA 0 NA
A-5 NA 0 NA
M-1 0 0 0
M-2 0 0 0
B-1 0 0 0
B-2 0 0 0
" AMOUNTS PER $1,000 UNIT" Ending Current
Principal Interest Total Certificate Pass Through
Class Distribution Distribution Distribution Balance Interest Rate
A-1 52.17538687 3.202570252 55.37795712 542.863627 0.0668125
A-2 0 5.241666762 5.241666762 1000 0.0629
A-3 0 5.366666781 5.366666781 1000 0.0644
A-4 0 5.683333333 5.683333333 1000 0.0682
A-5 0 6.15 6.15 1000 0.0738
M-1 0 6.691666844 6.691666844 1000 0.0803
M-2 0 7.5 7.5 1000 0.09
B-1 0 7.5 7.5 1000 0.09
B-2 0 7.5 7.5 1000 0.09
EMPIRE FUNDING HOME LOAN OWNER TRUST 1999-1
SERIES 1999-1
Distribution Date: 01/25/00
Payment Statement
"Sale and Servicing Agreement Dated February 1, 1998"
i) Available Collection Amount 4775499.51
Available Payment Amount 4495344.93
ii) Beginning and Ending Class Principal Balances See page 1
Beginning Pool Principal Balance See page 1
Ending Pool Principal Balance 231446720
iii) Class Factors Class A-1 Beginning Ending
Class A-2 0.595039014 0.542863627
Class A-3 1 1
Class A-4 1 1
Class A-5 1 1
Class M-1 1 1
Class M-2 1 1
Class B-1 1 1
Class B-2 1 1
iv) Interest from Mortgagors / Master Servicer 2606925.67
Interest from Purchased Loans 0
Interest from Liquidated Mortgage Loans 427.32
Principal Collections (Regular Installments) 340321.34
Principal Collections (Curtailments and Paid in Fulls) 1799035.66
Substitution Adjustment 0
Principal from Liquidated Mortgage Loans 73.66
Principal from Purchased Loans 0
2139430.66
Total Payments 4746783.65
plus: Amts remaining upon termination of Pre Funded Account 0
"plus: Int. Income on Collection, Certificate, & Note Dist. Accts" 28715.86
less: Trust Fees and Expenses 280154.58
Available Distribution Amount 4495344.93
v) Optimal Principal Balances:
Senior 0
Class M-1 0
Class M-2 0
Class B-1 0
vi) Overcollateralization Deficiency Amount (before distributions) 3745122.175
Amounts distributed to the Residual Interest 0
vii) Master Servicer Fee 36228.52
Indenture Trustee Fee 93060.87
Owner Trustee Fee 148988.88
Empire Subservicer Fee 1542.98
Servicer Fee 333.33
Non recoverable advances 0
viii) Overcollateralization Amount 5982894.18
Overcollateralization Target Amount 8750019.825
Net Loan Losses 0
Cumulative Net Loan Losses 92156.76
Allocable Loss Amount 0
Excess Spread 977996.53
Beginning Ending
ix) Weighted Average Maturity of the Home Loans 227 226
weighted avg. Home Loan Int Rate of the Home Loans 0.13447 0.1344
x) Performance information in Servicer's Monthly Remittance Report
60 Day Delinquency Amount 5292593.28
Six-Month Rolling Delinquency Average 4063776.717
Net Delinquency Calculation Amount 3918060.298
xiii) Current
Aggregate
Combination Loans Number Prin Balance
A)Defaulted Home Loans 0 0
B)Liquidated Home Loans 0 0
C)Deleted Home Loans (Defective) 0 0
D)Deleted Home Loans (Defaulted) 0 0
Cumulative
Aggregate
Combination Loans Number Principal Balance
A)Defaulted Home Loans 7 194512.41
B)Liquidated Home Loans 7 194512.41
C)Deleted Home Loans (Defective) 0 0
D)Deleted Home Loans (Defaulted) 0 0
Current
Aggregate
Debt Consolidation Loans Number Prin Balance
A)Defaulted Home Loans 19 637909.99
B)Liquidated Home Loans 19 637909.99
C)Deleted Home Loans (Defective) 0 0
D)Deleted Home Loans (Defaulted) 0 0
Cumulative
Aggregate
Debt Consolidation Loans Number Principal Balance
A)Defaulted Home Loans 72 2203087.66
B)Liquidated Home Loans 72 2203087.66
C)Deleted Home Loans (Defective) 0 0
D)Deleted Home Loans (Defaulted) 0 0
xiv) Delinquency And Foreclosure Information:
# of Accounts Prin Balance % of Total
30-59 Days Delinquent 146 4353505.51 0.019038422
60-89 Days Delinquent 41 1326372.78 0.005800393
90-179 Days Delinquent 69 2132089.64 0.009323894
180 or more Days Delinquent 0 0 0
Loans in foreclosure proceedings 0 0 0
Foreclosed Properties 0 0 0
Loans in bankruptcy proceedings # of Accounts Prin Balance % of Total
30-59 Days Delinquent 18 636924.68 0.002785351
60-89 Days Delinquent 14 449540.18 0.001965895
90-179 Days Delinquent 40 1384590.68 0.006054988
180 or more Days Delinquent 0 0 0
Aggregate 72 2471055.54
Current
Original Period
Class A-1 Note Interest Rate 0.05112 0.0668125
One-Month LIBOR 0.04912 0.0648125
SIGNATURES
" 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.
PAINEWEBBER MORTGAGE ACCEPTANCE CORPORATION IV
By:/s/ Eve Kaplan
Name: Eve Kaplan
Title: Vice President
U.S. Bank Trust National Association
Dated: > 1/31/00
