-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HzSs13ABH7JPzlB6Pfhapwj9wutK0f3uBYfNdlGC48FvrT/IA6J74e97GFBmewxX NK1qyLpav7LjxcyDwzOcXQ== 0000889812-99-003421.txt : 19991117 0000889812-99-003421.hdr.sgml : 19991117 ACCESSION NUMBER: 0000889812-99-003421 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980715 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19991116 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PAINEWEBBER MORT ACCEPT CORP IV DITECH HOME LOAN OWNR 1998-1 CENTRAL INDEX KEY: 0001065112 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 061204982 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-51375-01 FILM NUMBER: 99758635 BUSINESS ADDRESS: STREET 1: 1285 AVE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2127132000 MAIL ADDRESS: STREET 1: 1285 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10019 8-K 1 CURRENT REPORT ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 Date of Report (Date of Earliest Event Reported) July 15, 1998 DiTech Home Loan Owner Trust 1998-1 -------------------------------------------------- (Exact Name of Registrant as Specified in Charter) Delaware 333-51375-01 06-1204982 - ---------------------------- ---------------- ------------------- (State or Other Jurisdiction (Commission File (IRS Employer of Incorporation) Number) Identification No.) c/o The Bank of New York, as Indenture Trustee with respect to Home Loan Asset Backed Notes, Series 1998-1, issued by the Registrant 101 Barclay Street, 12E New York, New York 10286 --------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) (212) 815-8727 ------------------------------- (Registrant's telephone number, including area code) Not Applicable ------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) ================================================================================ Item 5. Other Events This Current Report on Form 8-K relates to the DiTech Home Loan Owner Trust 1998-1 (the "Registrant") formed by PaineWebber Mortgage Acceptance Corporation IV, a Delaware corporation (the "Depositor"), pursuant to a Trust Agreement, dated as of June 1, 1998 among the Depositor and certain other parties thereto, and certain Home Loan Asset Backed Notes, Series 1998-1, issued pursuant to an Indenture (the "Indenture"), dated as of June 1, 1998, between the Registrant and The Bank of New York, as Indenture Trustee (the "Indenture Trustee"). The Home Loan Asset Backed Notes, Series 1998-1, Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class M-1, Class M-2 and Class B-1 have been registered pursuant to the Securities Act of 1933 under a Registration Statement on Form S-3 (File No. 333-51375). This Current Report is being filed by the Indenture Trustee, in its capacity as such under the Indenture, on behalf of the Registrant pursuant to Section 4.09 of the Sale and Servicing Agreement dated as of June 1, 1998 among the Depositor, the Registrant, the Indenture Trustee and DiTech Funding Corporation (the "Sale and Servicing Agreement"). The information reported and contained herein has been derived from information supplied to the Indenture Trustee by the Servicer (as such term is defined in the Sale and Servicing Agreement) without independent review or investigation by the Indenture Trustee. Pursuant to Section 6.01(b) of the Sale and Servicing Agreement, the Indenture Trustee is entitled to fully rely upon information provided by the Servicer. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits (c) Exhibits Exhibit No. Description 99.1 Monthly Payment Date Statement distributed to Noteholders for the July 15, 1998 payment date. -2- 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 hereunto duly authorized. Date: November 16, 1999 DITECH HOME LOAN OWNER TRUST 1998-1 By: The Bank of New York, as Indenture Trustee By: /s/ Robert P. Muller ----------------------------------- Name: Robert P. Muller Title: Assistant Vice President EXHIBIT INDEX Exhibit No. Description 99.1 Monthly Payment Date Statement distributed to Noteholders for the July 15, 1998 payment date. EX-99.1 2 MONTHY PAYMENT DATE SCHEDULE Page Number: 1 Payment Date: 7/15/98 Revised Interest Distribution Factors 101 Barclay Street, 12E New York, NY 10286 Attn: Frank Austin, MBS Unit (212) 815-2297 DiTech Home Loan Owner Trust 1998-1 Home Loan Asset Backed Notes, Series 1998-1
Current Payment Information Class Information Class Principal Allocable Code Beginning Class Pass-Thru Principal Interest Total Optimal Interest Loss Ending Class Name Principal Balance Rate Distribution Distribution Distribution Balance Carryforward Amount Principal Balance A-1 52,265,000.00 5.74% 349,132.22 124,918.79 474,051.01 0 0 0 51,915,867.78 A-2 57,770,000.00 6.36% 0 10,206.03 10,206.03 0 0 0 57,770,000.00 A-3 22,585,000.00 6.60% 0 4,140.58 4,140.58 0 0 0 22,585,000.00 A-4 32,387,000.00 6.91% 0 6,216.50 6,216.50 0 0 0 32,387,000.00 A-5 13,380,500.00 7.24% 0 2,690.97 2,690.97 0 0 0 13,380,500.00 M-1 27,009,375.00 7.25% 0 5,439.39 5,439.39 0 0 0 27,009,375.00 M-2 16,959,375.00 7.64% 0 3,599.16 3,599.16 0 0 0 16,959,375.00 B-1 21,356,250.00 9.50% 0 5,635.68 5,635.68 0 0 0 21,356,250.00 B-2 7,537,500.00 9.50% 0 1,989.06 1,989.06 0 0 0 7,537,500.00 Residual 8,500,000.00 10.00% 0 0 0 0 0 0 8,570,833.33 Totals - 251,250,000.00 349,132.22 164,836.17 513,968.38 0 0 0 250,900,867.78
Original Class Information Factors per $1,000 Class Information Original Pass-Thru Cusip Principal Interest Ending Type Name Class Balance Rate Numbers Distribution Distribution Class Balance Senior A-1 52,265,000.00 Floating 25500P-AJ5 6.6800386 2.39010414 993.3199614 A-2 57,770,000.00 6.36% 25500P-AK2 0 0.17666667 1000 A-3 22,585,000.00 6.60% 25500P-AL0 0 0.18333333 1000 A-4 32,387,000.00 6.91% 25500P-AM8 0 0.19194444 1000 A-5 13,380,500.00 7.24% 25500P-AN6 0 0.20111111 1000 Mezzanine M-1 27,009,375.00 7.25% 25500P-AP1 0 0.20138889 1000 M-2 16,959,375.00 7.64% 25500P-AQ9 0 0.21222222 1000 Subordinate B-1 21,356,250.00 9.50% 25500P-AS5 0 0.26388889 1000 B-2 7,537,500.00 9.50% 25500P-AR7 0 0.26388889 1000 Residual Residual 8,500,000.00 10.00% 0 0 1008.333333 Totals - 251,250,000.00 - 1.38958097 0.65606435 998.610419
Page Number: 2 Payment Date: 7/15/98 Revised For Informational Purposes Only: 7/29/98 101 Barclay Street, 12E New York, NY 10286 Attn: Frank Austin, MBS Unit (212) 815-2297 DiTech Home Loan Owner Trust 1998-1 Home Loan Asset Backed Notes, Series 1998-1 COLLATERAL INFORMATION Number of Loans in Pool 3,569 Pool Principal Balance as of first day of Due Period 196,113,905.38 Scheduled Principal Payments during Due Period 127,727.43 Principal Prepayments during Due Period 159,500.68 Balance of Loans Charged Off 0 Substitution Adjustment Amount 5,406.98 Pool Reconciliation Adjustment Amount 0 Pool Principal Balance as of last day of Due Period 195,832,084.25 Cumulative Principal Prepayments since Cut-off Date 159,500.68 Weighted Average Maturity of the Home Loans 270 Weighted Average Interest Rate of the Home Loans 12.58% Gross Interest Collected On Loans 315,277.80 Available Collection Amount (Collateral Inputs Only) 602,505.91 Plus Capitalized Interest requirement 35,667.95 Less Expense Fees: Servicing Compensation 122,571.19 Indenture Trustee Fee 1,634.28 Owner Trustee Fee 0 Custodian Fee 0 Available Distribution Amount 513,968.38 OVERCOLLATERALIZATION Overcollateralization Target Amount 10,000,000.00 Overcollateralization Amount -1,182,688.91 Overcollateralization Deficiency Amount 11,182,688.91 OTHER INFORMATION Net Loan Losses 0 Allocable Loss Amount 0 DELINQUENCY INFORMATION Aggregate Principal Days Delinquent Number of Loans Balance 30 Days 13 703,174.89 60 Days 4 299,521.37 90 Days 0 0 Totals 17 1,002,696.26
Aggregate Principal Delinquent Status Number of Loans Balance Percent Book Value In Foreclosure Proceedings 0 0 0.00% 0 In Bankruptcy (Delinquent) 0 0 0.00% NA In Bankruptcy (Non-Delinquent) 0 0 0.00% NA Foreclosure Properties 0 0 0.00% 0
** Foreclosure and Bankruptcy Numbers are included in the 'Days Delinquent' category above 60-Day Delinquent Amount 299,521.37 Six-Month Rolling Delinquency Average 299,521.37 Net Delinquency Calculation Amount 452,689.20 During Related Due Period Aggregate Principal Number of Loans Balance Defaulted Home Loans 0 0 Liquidated Home Loans 0 0 Deleted Home Loans due to being Defective 0 0 Deleted Home Loans due to being Defaulted 0 0 Home Loans charged off due to being Defaulted 0 0 Cumulative Since Closing Date Aggregate Principal Number of Loans Balance Defaulted Home Loans 0 0 Liquidated Home Loans 0 0 Deleted Home Loans due to being Defective 0 0 Deleted Home Loans due to being Defaulted 0 0 Home Loans charged off due to being Defaulted 0 0 CAPITALIZED INTEREST AND PRE-FUNDING ACCOUNTS Capitalized Interest Initial Deposit 631,859.37 Beginning Capitalized Interest Account Balance 631,859.37 Capitalized Interest Requirement 35,667.95 Ending Capitalized Interest Account Balance 596,191.42 Original Pre-Funded Amount 53,886,094.62 Less Current Period Subsequent Transfer 0 Current Pre-Funded Account Balance 53,886,094.62 Pre-Funding Account Earnings paid to Residual 0 -----END PRIVACY-ENHANCED MESSAGE-----