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: September 10, 1999
(Date of earliest event reported)
PaineWebber Mortgage Acceptance Corporation IV (as depositor under the Pooling
and Master Servicing Agreement, dated as of September 1, 1999, relating to the
Fremont Home Loan Trust 1999-3, Home Loan Asset Backed Certificates, Series
1999-3)
PaineWebber Mortgage Acceptance Corporation IV
- --------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in Charter)
Delaware 333-79283 06-1204982
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
1285 Avenue of the Americas
New York, New York 10019
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (212) 713-2000
- --------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
ITEM 5. Other Events
Attached as an exhibit are certain Structural Term Sheets (as
defined in the no-action letter dated May 20, 1994 issued by the Securities and
Exchange Commission to Kidder, Peabody Acceptance Corporation-I, Kidder, Peabody
& Co. Incorporated and Kidder Structured Asset Corporation (the "Kidder Letter")
as modified by a no-action letter (the "First PSA No-Action Letter") issued by
the staff of the Commission on May 27, 1994 to the Public Securities Association
(the "PSA") and as further modified by a no-action letter (the "Second PSA
No-Action Letter") issued by the staff of the Commission on March 9, 1995 to the
PSA) prepared by PaineWebber Incorporated which are hereby filed pursuant to
such letter.
<PAGE>
ITEM 7. Financial Statements and Exhibits
(c) Exhibits
Item 601(a)
of Regulation S-K
Exhibit No. Description
- ----------- -----------
(99.1) Structural Term Sheets prepared by
PaineWebber Incorporated in connection
with Fremont Home Loan Trust 1999-3, Home
Loan Asset Backed Certificates, Series
1999-3
<PAGE>
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
September 14, 1999
By: /s/ Barbara Dawson
-----------------------------
Name: Barbara Dawson
Title: Senior Vice President
<PAGE>
INDEX TO EXHIBITS
Paper (P) or
Exhibit No. Description Electronic (E)
- ----------- ----------- --------------
(99.1) Structural Term Sheets prepared by E
PaineWebber Incorporated in connection
with Fremont Home Loan Trust 1999-3, Home
Loan Asset Backed Certificates, Series
1999-3
- --------------------------------------------------------------------------------
FREMONT HOME LOAN TRUST 1999-3
- --------------------------------------------------------------------------------
PAINEWEBBER INCORPORATED
PRELIMINARY BACKGROUND INFORMATION
FREMONT HOME LOAN TRUST 1999-3
DISCLAIMER
- --------------------------------------------------------------------------------
The information included herein is produced and provided exclusively by
PaineWebber Incorporated ("PW") as one of the underwriters for the Fremont Home
Loan Trust 1999-3, Home Loan Asset-Backed Certificates, Series 1999-3, and not
by or as agent for Fremont Investment & Loan or any of its affiliates
(collectively, the "Transferor" and "Master Servicer") or for PaineWebber
Mortgage Acceptance Corporation IV (the "Depositor"). Neither the Depositor nor
the Transferor has prepared, reviewed or participated in the preparation hereof,
nor are they responsible for the accuracy hereof and they have not authorized
the dissemination hereof. The analysis in this report is accurate to the best of
PW's knowledge and is based on information provided by the Transferor. PW makes
no representations as to the accuracy of such information provided by the
Transferor. THE INFORMATION HEREIN IS PRELIMINARY, AND WILL BE SUPERSEDED IN ITS
ENTIRETY BY THE APPLICABLE PROSPECTUS SUPPLEMENT AND PROSPECTUS AND BY ANY OTHER
INFORMATION SUBSEQUENTLY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.
All opinions and conclusions in this report reflect PW's judgment as of this
date and are subject to change. All analyses are based on certain assumptions
noted herein and different assumptions could yield substantially different
results. You are cautioned that there is no universally accepted method for
analyzing financial instruments. You should review the assumptions; there may be
differences between these assumptions and your actual business practices.
Further, PW does not guarantee any results and there is no guarantee as to the
liquidity of the instruments involved in this analysis. The decision to adopt
any strategy remains your responsibility. PW (or any of its affiliates) or their
officers, directors, analysts or employees may have positions in securities,
commodities or derivative instruments thereon referred to herein, and may, as
principal or agent, buy or sell such securities, commodities or derivative
instruments. In addition, PW may make a market in the securities referred to
herein. Neither the information nor the opinions expressed shall be construed to
be, or constitute, an offer to sell or buy or a solicitation of an offer to sell
or buy any securities, commodities or derivative instruments mentioned herein.
Finally, PW has not addressed the legal, accounting and tax implications of the
analysis with respect to you and PW strongly urges you to seek advice from your
counsel, accountant and tax advisor.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PAINEWEBBER
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
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[PAINEWEBBER LOGO]
1
<PAGE>
AVAILABLE FUNDS SCHEDULE
------------------------
CLASS A-1 CLASS A-2
--------- ---------
Period AFC Period AFC
------- --- ------- ---
1 8.359% 1 8.230%
2 9.291% 2 9.124%
3 9.319% 3 9.150%
4 9.349% 4 9.178%
5 9.380% 5 9.206%
6 9.411% 6 9.235%
7 9.447% 7 9.268%
8 9.482% 8 9.299%
9 9.519% 9 9.334%
10 9.557% 10 9.368%
11 9.590% 11 9.419%
12 9.627% 12 9.456%
13 9.667% 13 9.741%
14 9.981% 14 9.784%
15 10.026% 15 9.829%
16 10.075% 16 9.877%
17 10.123% 17 9.925%
18 10.174% 18 9.975%
19 10.231% 19 10.049%
20 10.286% 20 10.333%
21 10.546% 21 10.393%
22 10.608% 22 10.453%
23 10.947% 23 10.861%
24 11.012% 24 10.926%
25 11.420% 25 11.413%
26 11.573% 26 11.589%
27 11.609% 27 11.624%
28 11.646% 28 11.661%
29 11.684% 29 11.699%
30 11.723% 30 11.738%
31 11.763% 31 11.779%
32 11.617% 32 11.820%
33 11.772% 33 11.820%
34 11.772% 34 11.820%
35 11.773% 35 11.820%
36 11.945% 36 12.021%
----------------------------------- --------------------------------
2
<PAGE>
- --------------------------------------------------------------------------------
FREMONT HOME LOAN TRUST 1999-3
- --------------------------------------------------------------------------------
PAINEWEBBER INCORPORATED
PRELIMINARY BACKGROUND INFORMATION
FREMONT HOME LOAN TRUST 1999-3
------------------------------
DISCLAIMER
- --------------------------------------------------------------------------------
The information included herein is produced and provided exclusively by
PaineWebber Incorporated ("PW") as one of the underwriters for the Fremont Home
Loan Trust 1999-3, Home Loan Asset-Backed Certificates, Series 1999-3, and not
by or as agent for Fremont Investment & Loan or any of its affiliates
(collectively, the "Transferor" and "Master Servicer") or for PaineWebber
Mortgage Acceptance Corporation IV (the "Depositor"). Neither the Depositor nor
the Transferor has prepared, reviewed or participated in the preparation hereof,
nor are they responsible for the accuracy hereof and they have not authorized
the dissemination hereof. The analysis in this report is accurate to the best of
PW's knowledge and is based on information provided by the Transferor. PW makes
no representations as to the accuracy of such information provided by the
Transferor. THE INFORMATION HEREIN IS PRELIMINARY, AND WILL BE SUPERSEDED IN ITS
ENTIRETY BY THE APPLICABLE PROSPECTUS SUPPLEMENT AND PROSPECTUS AND BY ANY OTHER
INFORMATION SUBSEQUENTLY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.
All opinions and conclusions in this report reflect PW's judgment as of this
date and are subject to change. All analyses are based on certain assumptions
noted herein and different assumptions could yield substantially different
results. You are cautioned that there is no universally accepted method for
analyzing financial instruments. You should review the assumptions; there may be
differences between these assumptions and your actual business practices.
Further, PW does not guarantee any results and there is no guarantee as to the
liquidity of the instruments involved in this analysis. The decision to adopt
any strategy remains your responsibility. PW (or any of its affiliates) or their
officers, directors, analysts or employees may have positions in securities,
commodities or derivative instruments thereon referred to herein, and may, as
principal or agent, buy or sell such securities, commodities or derivative
instruments. In addition, PW may make a market in the securities referred to
herein. Neither the information nor the opinions expressed shall be construed to
be, or constitute, an offer to sell or buy or a solicitation of an offer to sell
or buy any securities, commodities or derivative instruments mentioned herein.
Finally, PW has not addressed the legal, accounting and tax implications of the
analysis with respect to you and PW strongly urges you to seek advice from your
counsel, accountant and tax advisor.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER.
IF YOU DID NOT RECEIVE SUCH A DISCLAIMER,
PLEASE CONTACT YOUR PAINEWEBBER INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
- --------------------------------------------------------------------------------
PaineWebber Logo
<PAGE>
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FREMONT HOME LOAN TRUST 1999-3
- --------------------------------------------------------------------------------
A-1 CASHFLOWS TO CALL - SCALED TO $25 MILLION
---------------------------------------------
Period Interest Principal Balance
------ -------- --------- -------
0 25,000,000
1 127,444 553,984 24,446,016
2 120,726 732,894 23,713,122
3 113,329 717,774 22,995,348
4 113,562 695,612 22,299,737
5 110,127 677,690 21,622,047
6 99,891 667,127 20,954,920
7 103,485 643,278 20,311,643
8 97,073 629,964 19,681,679
9 97,197 610,628 19,071,050
10 91,144 559,707 18,511,344
11 91,418 523,150 17,988,193
12 88,834 509,436 17,478,757
13 83,534 496,080 16,982,677
14 83,868 482,673 16,500,004
15 78,856 470,024 16,029,979
16 79,164 457,706 15,572,274
17 76,903 445,709 15,126,565
18 67,473 434,025 14,692,540
19 72,559 422,646 14,269,894
20 68,198 411,564 13,858,330
21 68,439 400,523 13,457,807
22 64,317 390,024 13,067,783
23 64,535 379,492 12,688,291
24 62,661 369,549 12,318,742
25 58,873 359,468 11,959,274
26 59,061 349,934 11,609,340
27 55,483 340,772 11,268,568
28 55,650 331,850 10,936,718
29 54,011 323,160 10,613,558
30 47,342 314,696 10,298,862
31 50,861 146,905 10,151,957
32 48,518 267,688 9,884,269
33 48,813 260,546 9,623,723
34 45,993 253,722 9,370,000
35 46,273 247,077 9,122,924
36 45,053 240,472 8,882,452
37 42,451 234,046 8,648,406
38 42,710 227,795 8,420,611
39 40,244 221,833 8,198,777
40 40,489 216,027 7,982,750
41 39,423 210,373 7,772,377
42 34,669 204,865 7,567,512
43 37,372 199,502 7,368,010
44 35,213 194,278 7,173,733
45 35,427 189,190 6,984,543
<PAGE>
Period Interest Principal Balance
------ -------- --------- -------
46 33,380 184,235 6,800,308
47 33,583 179,409 6,620,899
48 32,697 174,709 6,446,190
49 30,807 170,132 6,276,058
50 30,994 165,674 6,110,384
51 29,203 161,332 5,949,052
52 29,379 157,104 5,791,948
53 28,603 152,986 5,638,962
54 26,051 148,975 5,489,987
55 27,112 145,069 5,344,918
56 25,544 141,265 5,203,653
57 25,698 137,560 5,066,093
58 24,212 133,952 4,932,141
59 24,357 130,438 4,801,703
60 23,713 126,925 4,674,778
61 22,342 123,596 4,551,181
62 22,476 120,312 4,430,869
63 21,176 117,157 4,313,712
64 21,303 114,084 4,199,627
65 20,740 111,092 4,088,535
66 18,237 108,178 3,980,358
67 19,657 105,339 3,875,019
68 18,519 102,575 3,772,443
69 18,630 99,883 3,672,560
70 17,552 97,261 3,575,299
71 17,657 94,708 3,480,591
72 17,189 92,221 3,388,370
73 16,194 89,800 3,298,570
74 16,290 87,441 3,211,129
75 15,347 85,144 3,125,985
76 15,438 82,908 3,043,077
77 15,028 80,729 2,962,348
78 13,214 78,608 2,883,740
79 14,241 76,542 2,807,199
80 13,416 74,529 2,732,669
81 13,495 72,570 2,660,099
82 12,713 70,662 2,589,438
83 12,788 68,803 2,520,634
84 12,448 66,993 2,453,641
85 11,726 65,231 2,388,410
86 11,795 63,515 2,324,895
87 11,111 2,324,895 -
88 - - -
89 - - -
90 - - -
<PAGE>
A-1 CASHFLOWS TO MATURITY - SCALED TO $25 MILLION
-------------------------------------------------
Period Interest Principal Balance
------ -------- --------- -------
0 25,000,000
1 127,444 553,984 24,446,016
2 120,726 732,894 23,713,122
3 113,329 717,774 22,995,348
4 113,562 695,612 22,299,737
5 110,127 677,690 21,622,047
6 99,891 667,127 20,954,920
7 103,485 643,278 20,311,643
8 97,073 629,964 19,681,679
9 97,197 610,628 19,071,050
10 91,144 559,707 18,511,344
11 91,418 523,150 17,988,193
12 88,834 509,436 17,478,757
13 83,534 496,080 16,982,677
14 83,868 482,673 16,500,004
15 78,856 470,024 16,029,979
16 79,164 457,706 15,572,274
17 76,903 445,709 15,126,565
18 67,473 434,025 14,692,540
19 72,559 422,646 14,269,894
20 68,198 411,564 13,858,330
21 68,439 400,523 13,457,807
22 64,317 390,024 13,067,783
23 64,535 379,492 12,688,291
24 62,661 369,549 12,318,742
25 58,873 359,468 11,959,274
26 59,061 349,934 11,609,340
27 55,483 340,772 11,268,568
28 55,650 331,850 10,936,718
29 54,011 323,160 10,613,558
30 47,342 314,696 10,298,862
31 50,861 146,905 10,151,957
32 48,518 267,688 9,884,269
33 48,813 260,546 9,623,723
34 45,993 253,722 9,370,000
35 46,273 247,077 9,122,924
36 45,053 240,472 8,882,452
37 42,451 234,046 8,648,406
38 42,710 227,795 8,420,611
39 40,244 221,833 8,198,777
40 40,489 216,027 7,982,750
41 39,423 210,373 7,772,377
42 34,669 204,865 7,567,512
43 37,372 199,502 7,368,010
44 35,213 194,278 7,173,733
45 35,427 189,190 6,984,543
<PAGE>
Period Interest Principal Balance
------ -------- --------- -------
46 33,380 184,235 6,800,308
47 33,583 179,409 6,620,899
48 32,697 174,709 6,446,190
49 30,807 170,132 6,276,058
50 30,994 165,674 6,110,384
51 29,203 161,332 5,949,052
52 29,379 157,104 5,791,948
53 28,603 152,986 5,638,962
54 26,051 148,975 5,489,987
55 27,112 145,069 5,344,918
56 25,544 141,265 5,203,653
57 25,698 137,560 5,066,093
58 24,212 133,952 4,932,141
59 24,357 130,438 4,801,703
60 23,713 126,925 4,674,778
61 22,342 123,596 4,551,181
62 22,476 120,312 4,430,869
63 21,176 117,157 4,313,712
64 21,303 114,084 4,199,627
65 20,740 111,092 4,088,535
66 18,237 108,178 3,980,358
67 19,657 105,339 3,875,019
68 18,519 102,575 3,772,443
69 18,630 99,883 3,672,560
70 17,552 97,261 3,575,299
71 17,657 94,708 3,480,591
72 17,189 92,221 3,388,370
73 16,194 89,800 3,298,570
74 16,290 87,441 3,211,129
75 15,347 85,144 3,125,985
76 15,438 82,908 3,043,077
77 15,028 80,729 2,962,348
78 13,214 78,608 2,883,740
79 14,241 76,542 2,807,199
80 13,416 74,529 2,732,669
81 13,495 72,570 2,660,099
82 12,713 70,662 2,589,438
83 12,788 68,803 2,520,634
84 12,448 66,993 2,453,641
85 11,726 65,231 2,388,410
86 11,795 63,515 2,324,895
87 11,111 61,843 2,263,052
88 11,868 60,215 2,202,837
89 11,552 58,630 2,144,207
90 10,156 57,086 2,087,121
<PAGE>
A-1 CASHFLOWS TO MATURITY - SCALED TO $25 MILLION (CONTINUED)
-------------------------------------------------------------
Period Interest Principal Balance
------ -------- --------- -------
91 10,945 55,583 2,031,538
92 10,310 54,119 1,977,420
93 10,370 52,693 1,924,727
94 9,768 51,305 1,873,422
95 9,825 49,952 1,823,470
96 9,563 48,636 1,774,834
97 9,007 47,353 1,727,480
98 9,059 46,105 1,681,376
99 8,533 44,889 1,636,487
100 8,582 43,705 1,592,782
101 8,353 42,552 1,550,231
102 7,605 41,429 1,508,802
103 7,912 40,335 1,468,467
104 7,452 39,270 1,429,196
105 7,495 38,233 1,390,963
106 7,059 37,224 1,353,740
107 7,099 36,240 1,317,499
108 6,909 35,283 1,282,217
109 6,507 34,350 1,247,866
110 6,544 33,442 1,214,424
111 6,163 32,558 1,181,866
112 6,198 31,697 1,150,169
113 6,032 30,998 1,119,170
114 5,301 33,492 1,085,678
115 5,693 32,606 1,053,073
116 5,344 31,743 1,021,330
117 5,356 30,902 990,428
118 5,026 30,084 960,344
119 5,036 29,287 931,057
120 4,883 28,511 902,546
121 4,580 27,756 874,790
122 4,588 27,020 847,770
123 4,302 26,304 821,467
124 4,308 25,606 795,861
125 4,174 24,927 770,934
126 3,652 24,265 746,668
127 3,916 23,621 723,047
128 3,669 22,994 700,053
129 3,671 22,384 677,669
130 3,439 21,789 655,880
131 3,440 21,210 634,670
132 3,328 20,647 614,023
133 3,116 20,098 593,925
134 3,115 19,563 574,362
135 2,915 19,043 555,319
<PAGE>
Period Interest Principal Balance
------ -------- --------- -------
136 2,912 18,536 536,782
137 2,815 18,043 518,739
138 2,457 17,563 501,176
139 2,628 17,095 484,081
140 2,457 16,640 467,442
141 2,451 16,196 451,245
142 2,290 15,765 435,480
143 2,284 15,344 420,136
144 2,203 14,935 405,201
145 2,056 14,537 390,664
146 2,049 14,149 376,515
147 1,911 13,771 362,744
148 1,902 13,403 349,341
149 1,832 13,045 336,295
150 1,650 12,697 323,598
151 1,697 12,357 311,241
152 1,580 12,027 299,214
153 1,569 11,705 287,509
154 1,459 11,392 276,116
155 1,448 11,087 265,029
156 1,390 10,790 254,239
157 1,290 10,501 243,738
158 1,278 10,220 233,518
159 1,185 9,946 223,572
160 1,172 9,679 213,893
161 1,122 9,420 204,473
162 969 9,167 195,306
163 1,024 8,921 186,386
164 946 8,681 177,705
165 932 8,448 169,257
166 859 8,221 161,036
167 844 8,000 153,036
168 803 7,785 145,252
169 737 7,575 137,676
170 722 7,371 130,305
171 661 7,173 123,133
172 646 6,979 116,153
173 609 6,791 109,362
174 518 6,608 102,754
175 539 6,430 96,324
176 489 6,256 90,068
177 472 6,087 83,981
178 426 5,923 78,058
179 409 5,763 72,296
180 379 5,607 66,689
<PAGE>
A-1 CASHFLOWS TO MATURITY - SCALED TO $25 MILLION (CONTINUED)
-------------------------------------------------------------
Period Interest Principal Balance
------ -------- --------- -------
181 338 5,455 61,234
182 321 5,307 55,926
183 284 5,164 50,762
184 266 5,024 45,739
185 240 4,888 40,851
186 193 4,755 36,096
187 189 4,626 31,470
188 160 4,500 26,969
189 141 4,378 22,591
190 115 4,259 18,332
191 96 4,143 14,189
192 74 4,031 10,158
193 52 3,921 6,237
194 33 3,814 2,423
195 12 2,423 -
196 - - -
197 - - -
198 - - -
199 - - -
200 - - -
