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: May 24, 1999
(Date of earliest event reported)
Commission File No. 333-61785
PAINEWEBBER MORTGAGE ACCEPTANCE CORPORATION IV (as depositor under the Pooling
and Servicing Agreement, dated as of May 1, 1999, relating to the New South Home
Equity Trust 1999-1, Home Equity Asset Backed Certificates, Series 1999-1)
PAINEWEBBER MORTGAGE ACCEPTANCE CORPORATION IV
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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
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(Former name, former address and former fiscal year,
if changed since last report)
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ITEM 5. OTHER EVENTS
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Attached as an exhibit to this Current Report is the consent
of KPMG LLP furnished to the Registrant by KPMG LLP in connection with the
offering by the Registrant of the New South Home Equity Trust 1999-1, Home
Equity Asset Backed Certificates, Series 1999-1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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(c) Exhibits
ITEM 601(A)
OF REGULATION S-K
EXHIBIT NO. DESCRIPTION
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(23) Consent of KPMG LLP
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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
May 24, 1999
By: /S/ BARBARA DAWSON
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Name: Barbara Dawson
Title: Senior Vice President
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INDEX TO EXHIBITS
PAPER (P) OR
EXHIBIT NO. DESCRIPTION ELECTRONIC (E)
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(23) Consent of KPMG LLP E
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[Letterhead of KPMG LLP]
INDEPENDENT AUDITORS' CONSENT
The Board of Directors
Ambac Assurance Corporation
We consent to the incorporation by reference in the registration statement (No.
333-61785) of PaineWebber Mortgage Acceptance Corporation IV (the "Registrant")
and in the Prospectus Supplement of the Registrant (the "Prospectus Supplement")
via the Form 8-K of the Registrant dated May 24, 1999, of our report dated
January 27, 1999 on the consolidated financial statements of Ambac Assurance
Corporation and subsidaries as of December 31, 1998 and 1997 and for each of the
years in the three-year period ended December 31, 1998, which report appears in
the Form 10-K of Ambac Financial Group, Inc., which was filed with the
Securities and Exchange Commission on March 30, 1999 and to the reference to our
firm under the heading "Experts" in the Prospectus Supplement.
/s/ KPMG LLP
KPMG LLP
New York, New York
May 24, 1999
