Item 1. Business
Omitted.
Item 2.
Item 2. Properties
Omitted.
Item 3.
Item 3. Legal Proceedings
The Registrant is not aware of any material legal proceeding with respect to, the Company, the Master Servicer or the Trustee, as related to the Trust.
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders
No matter was submitted to a vote or consent of Holders of the Offered Certificates during the fiscal year covered by this report.
PART II
Item 5.
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters
The Trust does not issue stock. There is currently no established secondary market for the Certificates.
Item 6.
Item 6. Selected Financial Data
Omitted.
Item 7.
Item 7. Management's Discussion and Analysis of Financial condition and Results of Operations
Omitted.
Item 8.
Item 8. Financial Statements and Supplementary Data
Omitted.
Item 9.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
There was no change of accountants or disagreement with accountants on any matter of accounting principles or practices or financial disclosure.
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant
Omitted.
Item 11.
Item 11. Executive Compensation
Omitted.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management
Omitted.
Item 13.
Item 13. Certain Relationships and Related Transactions
No reportable transactions have occurred.
PART IV
Item 14.
Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K
(a) The following documents are filed as part of this report:
(1) Financial Statements: Omitted.
(2) Financial Statement Schedules: Omitted.
(3) Exhibits:
Annual Servicer Statement of Compliance, filed as Exhibit 99.1 hereto. Annual Statement of Independent Accountants Report for the Servicer, filed as Exhibit 99.2 hereto.
(b) Reports on Form 8-K: The following Current Reports on Form 8-K were filed by the Registrant for the last quarter of 1998.
Current Reports on Form 8-K dated October 26, 1998, were filed for the purpose of filing the Monthly Statement sent to the Holders of the Offered Certificates for payments made on October 26, 1998, November 25, 1998 and December 28, 1998. The items reported in such Current Report were Item 5 (Other Events).
(c) Exhibits to this report are listed in Item (14)(a)(3) above.
Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 1998.
PAINEWEBBER MORTGAGE ACCEPTANCE CORP. IV Painewebber Mortgage Acceptance Corp. IV Mortgage Pass-Through Certificates Series 1998-1 - -----------------------------------------------------------------------
SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) 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.
I, Diane E. Wallace, certify that:
1. I have reviewed this annual report on Form 10-K, and all reports on Form 8-K containing distribution or servicing reports filed in respect of periods included in the year covered by this annual report, of PaineWebber Mortgage Acceptance Corp. IV.
2. Based on my knowledge, the information in these reports, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the last day of the period covered by this annual report;
3. Based on my knowledge, the servicing information required to be provided to the trustee by the servicer under the pooling and servicing agreement is included in these reports.
JPMorgan Chase Bank fka The Chase Manhattan Bank not in its individual capacity but solely as Trustee under the Agreement referred to herein
Date: November 18, 2002 By: /s/ Diane E. Wallace -------------------------------------- Diane E. Wallace Assistant Vice President
SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION 15(D) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO SECTION 12 OF THE ACT.
The registrant has not sent an annual report or proxy material to its security holders. The registrant will not be sending an annual report or proxy material to its security holders subsequent to the filing of this form.
EXHIBIT INDEX
Exhibit Description
99.1 Servicer's Annual Statement of Compliance 99.2 Servicer's Annual Independent Accountant's Report
EXHIBIT 99.1 - Servicer's Annual Statement of Compliance
Provident Funding Provident Funding Loan Servicing Division 1622 Corporate Circle Petaluma, CA 94954 P.O. Box 6012 Petaluma, CA 94955 Phone: 800-696-8199 Fax: 707-782-1976
Annual Statement as to Compliance for PainWebber Acceptance Corporation IV, depositor (Mortgage Pass-Through Certificates, Series 1998-1) Provident Funding Associates, L.P., Originator and Servicer: The Chase Manhattan Bank, Trustee
Officer's Certificate Relating to Servicing
We, Gary Kennedy, Vice President, and Cindy Garcia, Assistant Vice President, do hereby certify that we are authorized officers of Provident Funding Group, Inc., the general partner of Provident Funding Associates, L.P. ("Servicer"), that (i) we have reviewed the activities for the Servicer during the preceding calendar year and the performance of the Servicer under the above captioned Agreement which review was made under our supervision and (ii) to the best of our knowledge, and based on such reivew, the Servicer has fulfilled all its obligations under the Agreement throughout such year.
Capitalized terms used herein and not otherwise defined herein shall have the respective meanings ascribed to such terms in the Mortgage Loan Purchase Agreement.
Provident Funding Associates, L.P. By: Provident Funding Group, Inc., its General Partner
By: /s/ Gary Kennedy ---------------------- Gary Kennedy, Vice President
By: /s/ Cindy Garcia ---------------------- Cindy Garcia, Assistant Vice President
EXHIBIT 99.2 - Servicer's Annual Independent Accountant's Report
PricewaterhouseCoopers LLP 333 Market Street San Francisco, CA 94105-2119 Telephone (415) 498-5000 Facsimile (415) 498-7100
Report of Independent Accountants
To the Partners of Provident Funding Associates, L.P.:
In our opinion, the accompanying consolidated balance sheets and the related statements of operations, changes in partners' capital and of cash flows present fairly, in all material respects, the financial position of Provident Funding Associates, L.P., a California Limited Partnership(PFA) at December 31, 1998 and 1997, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 1998, in conformity with generally accepted accounting prinicples. These financial statements are the responsibility of PFA's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with generally accepted auditing standards which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a resonable basis for our opinion.
/s/ PricewaterhouseCoopers LLP - -------------------------------- PricewaterhouseCoopers LLP
March 22, 1999