MUNICIPAL INVESTMENT TRUST FD INSURED SER 407 DEF ASSET FDS, 487, EX-99.C2, 2000-06-02

MUNICIPAL INVESTMENT TRUST FD INSURED SER 407 DEF ASSET FDS
487, EX-99.C2, 2000-06-02

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                                                                     EXHIBIT 4.1

KENNY INFORMATION SYSTEMS,
A Division of J. J. Kenny Co., Inc.
55 Water Street
45th Floor
New York, New York 10021
Telephone: 212/438-2000
Fax: 212/438-4448
Frank A. Ciccotto, Jr.
Vice President


                                                                    June 2, 2000


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<S>                                       <C>
Merrill Lynch Pierce Fenner & Smith
Incorporated
Defined Asset Funds
P.O. Box 9051
Princeton, NJ 08543-9051
The Bank of New York
Unit Investment Trust Department
P.O. Box 974
Wall Street Station
New York, N.Y. 10268-0974
</TABLE>

Re: MUNICIPAL INVESTMENT TRUST FUND,

    INSURED SERIES--407

    DEFINED ASSET FUNDS

Gentlemen:


    We have examined the Registration Statement File No. 333-94413 for the
above-captioned fund. We hereby acknowledge that Kenny Information Systems, a
Division of J. J. Kenny Co., Inc. is currently acting as the evaluator for the
fund. We hereby consent to the use in the Registration Statement of the
reference to Kenny Information Systems, a Division of J. J. Kenny Co., Inc. as
evaluator.


    In addition, we hereby confirm that the ratings indicated in the
Registration Statement for the respective bonds comprising the trust portfolio
are the ratings indicated in our KENNYBASE database as of the date of the
Evaluation Report.

    You are hereby authorized to file a copy of this letter with the Securities
and Exchange Commission.

                                          Sincerely,

                                          FRANK A. CICCOTTO, JR.
                                          VICE PRESIDENT