8-K 1 pmac981_8k1qtr02.txt JAN 25, FEB 25, MAR 25, 2002 PDS UNITED STATES 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 (Date of earliest event reported) : January 25, 2002 PAINEWEBBER MORTGAGE ACCEPTANCE CORP. IV (as depositor under a Pooling and Servicing Agreement, dated as of July 1, 1998, providing for, inter alia, the issuance of PaineWebber Mortgage Acceptance Corp. IV Mortgage Pass-Through Certificates, Series 1998-1) PAINEWEBBER MORTGAGE ACCEPTANCE CORP. IV (Exact name of registrant as specified in its charter) Delaware 333-15685-01 06-1204982 State or Other Jurisdiction (Commission (IRS Employer of Incorporation ) File Number) Identification No.) 1285 Avenue of the Americas New York, New York 10019 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code :(212)713-2000 N/A (Former name or former address, if changed since last report.) Item 5. Other Events. This report and the attached exhibit is being filed with respect to the Registrant's PaineWebber Mortgage Acceptance Corp. IV Mortgage Pass-Through Certificates, Series 1998-1 (the "Certificates") pursuant to "no-action" positions taken by the Securities and Exchange Commission with respect to alternative means of satisfying the Registrant's reporting obligations under the Securities Exchange Act of 1934, as amended. The Certificates were issued, and this report and exhibit is being filed, pursuant to the terms of the Pooling and Servicing Agreement, dated as of July 1, 1998 among PaineWebber Mortgage Acceptance Corp. IV, as depositor, Provident Funding Accociates, L.P., as originator, Provident Funding Associates, L.P., as servicer, and The Chase Manhattan Bank, as trustee. On January 25, 2002, February 25, 2002, and March 25, 2002 distributions were made to the Certificateholders. Specific information with respect to the distributions is filed as Exhibit 99.1, Exhibit 99.2, and Exhibit 99.3. No other reportable transactions or matters have occurred during the current reporting period. Item 7. Financial Statements and Exhibits. (a) Not applicable. (b) Not applicable. (c) The following exhibits are filed as part of this report: Statement to Certificateholders on January 25, 2002 is filed as Exhibit 99.1 hereto. Statement to Certificateholders on February 25, 2002 is filed as Exhibit 99.2 hereto. Statement to Certificateholders on March 25, 2002 is filed as Exhibit 99.3 hereto. -2- PAINEWEBBER MORTGAGE ACCEPTANCE CORP. IV PAINEWEBBER MORTGAGE ACCEPTANCE CORP. IV MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-1 ---------------------------------------------------------------------------- SIGNATURE 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. JPMORGAN CHASE BANK, not in its individual capacity but solely as Trustee under the Agreement referred to herein Date: November 20, 2002 By: /s/ Diane E. Wallace --------------------------------------- Diane E. Wallace Assistant Vice President -3- INDEX TO EXHIBITS Exhibit Number Description of Exhibits 99.1 Monthly Certificateholder Statement on January 25, 2002 99.2 Monthly Certificateholder Statement on February 25, 2002 99.3 Monthly Certificateholder Statement on March 25, 2002 -4- Exhibit 99.1 Monthly Certificateholder Statement on January 25, 2002 PaineWebber Mortgage Acceptance Corp. IV Mortgage Pass-Through Certificates, Series 1998-1 Statement to Certificate Holders January 25, 2002 ---------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION IN DOLLARS ---------------------------------------------------------------------------------------------------------------------------------- ORIGINAL BEGINNING ENDING FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE ---------------------------------------------------------------------------------------------------------------------------------- A1 168,680,000.00 49,093,323.66 5,159,702.50 276,149.95 5,435,852.45 0.00 0.00 43,933,621.16 A2 16,360,500.00 16,360,500.00 0.00 88,619.38 88,619.38 0.00 0.00 16,360,500.00 A3 5,330,000.00 5,330,000.00 0.00 31,091.67 31,091.67 0.00 0.00 5,330,000.00 A4 11,030,500.00 11,030,500.00 0.00 64,344.58 64,344.58 0.00 0.00 11,030,500.00 A5 9,750,000.00 9,750,000.00 0.00 22,181.25 22,181.25 0.00 0.00 9,750,000.00 A6 3,250,000.00 3,250,000.00 0.00 50,943.75 50,943.75 0.00 0.00 3,250,000.00 A7 19,852,941.00 19,852,941.00 0.00 44,338.23 44,338.23 0.00 0.00 19,852,941.00 A8 5,147,059.00 5,147,059.00 0.00 96,286.74 96,286.74 0.00 0.00 5,147,059.00 PO 213,572.38 158,104.42 745.96 0.00 745.96 0.00 0.00 157,358.46 AR 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 M 4,629,500.00 4,458,446.80 4,931.62 25,078.76 30,010.38 0.00 0.00 4,453,515.18 B1 2,377,000.00 2,289,173.32 2,532.12 12,876.60 15,408.72 0.00 0.00 2,286,641.20 B2 1,376,000.00 1,325,158.80 1,465.80 7,454.02 8,919.82 0.00 0.00 1,323,693.00 B3 751,000.00 723,251.65 800.01 4,068.29 4,868.30 0.00 0.00 722,451.64 B4 751,000.00 723,251.65 800.01 4,068.29 4,868.30 0.00 0.00 722,451.64 B5 751,363.93 723,602.49 800.40 4,070.26 4,870.66 0.00 0.00 722,802.09 TOTALS 250,250,536.31 130,215,312.79 5,171,778.42 731,571.77 5,903,350.19 0.00 0.00 125,043,534.37 AX 229,442,969.52 114,029,671.14 0.00 33,428.76 33,428.76 0.00 0.00 109,169,913.04 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES --------------------------------------------------------------------------------------------------------- ---------------------- BEGINNING ENDING CURRENT CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL CLASS PASS-THRU RATE --------------------------------------------------------------------------------------------------------- ---------------------- A1 69573CAT2 291.04412888 30.58870346 1.63712325 32.22582671 260.45542542 A1 6.750000 % A2 69573CAU9 1,000.00000000 0.00000000 5.41666697 5.41666697 1,000.00000000 A2 6.500000 % A3 69573CAV7 1,000.00000000 0.00000000 5.83333396 5.83333396 1,000.00000000 A3 7.000000 % A4 69573CAW5 1,000.00000000 0.00000000 5.83333303 5.83333303 1,000.00000000 A4 7.000000 % A5 69573CAX3 1,000.00000000 0.00000000 2.27500000 2.27500000 1,000.00000000 A5 2.730000 % A6 69573CAY1 1,000.00000000 0.00000000 15.67500000 15.67500000 1,000.00000000 A6 18.810000 % A7 69573CAZ8 1,000.00000000 0.00000000 2.23333309 2.23333309 1,000.00000000 A7 2.680000 % A8 69573CBA2 1,000.00000000 0.00000000 18.70713742 18.70713742 1,000.00000000 A8 22.448564 % PO 69573CBC8 740.28495632 3.49277374 0.00000000 3.49277374 736.79218258 PO 0.000000 % AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AR 6.750000 % M 69573CBE4 963.05147424 1.06525975 5.41716384 6.48242359 961.98621449 M 6.750000 % B1 69573CBF1 963.05145982 1.06525873 5.41716449 6.48242322 961.98620109 B1 6.750000 % B2 69573CBG9 963.05145349 1.06526163 5.41716570 6.48242733 961.98619186 B2 6.750000 % B3 69573CBH7 963.05146471 1.06525965 5.41716378 6.48242344 961.98620506 B3 6.750000 % B4 69573CBJ3 963.05146471 1.06525965 5.41716378 6.48242344 961.98620506 B4 6.750000 % B5 69573CBK0 963.05193942 1.06526274 5.41716183 6.48242457 961.98667668 B5 6.750000 % TOTALS 520.33979511 20.66640294 2.92335745 23.58976039 499.67339217 AX 69573CBB0 496.98481230 0.00000000 0.14569529 0.14569529 475.80413237 AX 0.351790 % ---------------------------------------------------------------------------------------------------------- ------------------------ IF THERE, ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: Robert Wainwright JPMorgan Chase Bank - Structured Finance Services 450 West 33 St, 14th fl, Tel: (212)946-7551 New York, New York 10001 Email: robert.wainwright@chase.com Copyright 2001 J.P. Morgan Chase & Co. All rights reserved. Total Funds 5,938,135.38 Sec. 4.04 (a)(i) Aggregate Principal Prepayment Amount 5,027,727.40 Aggregate Liquidation Proceeds Amount 0.00 Sec. 4.06(ii) Unpaid Interest Shortfalls for A1 0.00 A2 0.00 A3 0.00 A4 0.00 A5 0.00 A6 0.00 A7 0.00 A8 0.00 AR 0.00 AX 0.00 M 0.00 B1 0.00 B2 0.00 B3 0.00 B4 0.00 B5 0.00 Shortfalls Paid for A1 0.00 A2 0.00 A3 0.00 A4 0.00 A5 0.00 A6 0.00 A7 0.00 A8 0.00 AR 0.00 AX 0.00 M 0.00 B1 0.00 B2 0.00 B3 0.00 B4 0.00 B5 0.00 Sec. 4.06(v) Beginning Pool Stated Principal Balance 130,215,312.49 Ending Pool Stated Principal Balance 125,043,534.07 Sec. 4.06(vi) Senior Percentage for the following distribution date 91.807 % Subordinate Percentage for the following distribution date 8.193 % Sec. 4.06(vii) Master Servicing Fees 27,128.19 Trustee Fees 1,356.41 Sec. 4.06(ix) Current Advance 30,441.33 Aggregate Advances Outstanding 30,441.33 Sec. 4.06(x) Number and Aggregate Principal Balance of Delinquent Mortgage Loans Group 1 PERIOD NUMBER PRINCIPAL PERCENTAGE BALANCE --------------------------------------------------------------- 0-30 days 10 3,105,872.77 2.48 % 31-60 days 3 1,136,668.19 0.91 % 61-90 days 0 0.00 0.00 % 91+days 0 0.00 0.00 % Total 13 4,242,540.96 3.39 % --------------------------------------------------------------- Loans in Foreclosure Group 1 NUMBER PRINCIPAL BALANCE PERCENTAGE --------------------------------------------------------------- 0 0.00 0.00 % --------------------------------------------------------------- Total Number and Principal Balances of the REO Properties Group Totals NUMBER PRINCIPAL BALANCE PERCENTAGE --------------------------------------------------------------- 0 0.00 0.00 % --------------------------------------------------------------- Sec. 4.06(xiii) Senior Prepayment Percentage 100.00 % Sec. 4.06(xiv) Current Amount of Realized Losses 0.00 Sec. 4.06 (xv) Special Hazard Loss Coverage Amount 3,218,353.00 Fraud Loss Coverage Amount 1,534,404.34 Bankruptcy Loss Coverage Amount 100,000.00 Copyright 2001 J.P. Morgan Chase & Co. All rights reserved.

Exhibit 99.2 Monthly Certificateholder Statement on February 25, 2002 PaineWebber Mortgage Acceptance Corp. IV Mortgage Pass-Through Certificates, Series 1998-1 Statement to Certificate Holders February 25, 2002 ---------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION IN DOLLARS ---------------------------------------------------------------------------------------------------------------------------------- ORIGINAL BEGINNING ENDING FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE ---------------------------------------------------------------------------------------------------------------------------------- A1 168,680,000.00 43,933,621.16 8,984,762.54 247,126.62 9,231,889.16 0.00 0.00 34,948,858.62 A2 16,360,500.00 16,360,500.00 0.00 88,619.38 88,619.38 0.00 0.00 16,360,500.00 A3 5,330,000.00 5,330,000.00 0.00 31,091.67 31,091.67 0.00 0.00 5,330,000.00 A4 11,030,500.00 11,030,500.00 0.00 64,344.58 64,344.58 0.00 0.00 11,030,500.00 A5 9,750,000.00 9,750,000.00 0.00 20,800.00 20,800.00 0.00 0.00 9,750,000.00 A6 3,250,000.00 3,250,000.00 0.00 52,325.00 52,325.00 0.00 0.00 3,250,000.00 A7 19,852,941.00 19,852,941.00 0.00 41,525.73 41,525.73 0.00 0.00 19,852,941.00 A8 5,147,059.00 5,147,059.00 0.00 99,099.24 99,099.24 0.00 0.00 5,147,059.00 PO 213,572.38 157,358.46 740.41 0.00 740.41 0.00 0.00 156,618.05 AR 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 M 4,629,500.00 4,453,515.18 4,971.76 25,051.02 30,022.78 0.00 0.00 4,448,543.42 B1 2,377,000.00 2,286,641.20 2,552.73 12,862.36 15,415.09 0.00 0.00 2,284,088.47 B2 1,376,000.00 1,323,693.00 1,477.73 7,445.77 8,923.50 0.00 0.00 1,322,215.27 B3 751,000.00 722,451.64 806.52 4,063.79 4,870.31 0.00 0.00 721,645.12 B4 751,000.00 722,451.64 806.52 4,063.79 4,870.31 0.00 0.00 721,645.12 B5 751,363.93 722,802.09 806.91 4,065.76 4,872.67 0.00 0.00 721,995.18 TOTALS 250,250,536.31 125,043,534.37 8,996,925.12 702,484.71 9,699,409.83 0.00 0.00 116,046,609.25 AX 229,442,969.52 109,169,913.04 0.00 31,754.38 31,754.38 0.00 0.00 100,481,497.87 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES --------------------------------------------------------------------------------------------------------- ---------------------- BEGINNING ENDING CURRENT CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL CLASS PASS-THRU RATE --------------------------------------------------------------------------------------------------------- ---------------------- A1 69573CAT2 260.45542542 53.26513244 1.46506177 54.73019421 207.19029298 A1 6.750000 % A2 69573CAU9 1,000.00000000 0.00000000 5.41666697 5.41666697 1,000.00000000 A2 6.500000 % A3 69573CAV7 1,000.00000000 0.00000000 5.83333396 5.83333396 1,000.00000000 A3 7.000000 % A4 69573CAW5 1,000.00000000 0.00000000 5.83333303 5.83333303 1,000.00000000 A4 7.000000 % A5 69573CAX3 1,000.00000000 0.00000000 2.13333333 2.13333333 1,000.00000000 A5 2.560000 % A6 69573CAY1 1,000.00000000 0.00000000 16.10000000 16.10000000 1,000.00000000 A6 19.320000 % A7 69573CAZ8 1,000.00000000 0.00000000 2.09166642 2.09166642 1,000.00000000 A7 2.510000 % A8 69573CBA2 1,000.00000000 0.00000000 19.25356597 19.25356597 1,000.00000000 A8 23.104278 % PO 69573CBC8 736.79218258 3.46678723 0.00000000 3.46678723 733.32539535 PO 0.000000 % AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AR 6.750000 % M 69573CBE4 961.98621449 1.07393023 5.41117183 6.48510206 960.91228426 M 6.750000 % B1 69573CBF1 961.98620109 1.07392932 5.41117375 6.48510307 960.91227177 B1 6.750000 % B2 69573CBG9 961.98619186 1.07393169 5.41117006 6.48510174 960.91226017 B2 6.750000 % B3 69573CBH7 961.98620506 1.07392810 5.41117177 6.48509987 960.91227696 B3 6.750000 % B4 69573CBJ3 961.98620506 1.07392810 5.41117177 6.48509987 960.91227696 B4 6.750000 % B5 69573CBK0 961.98667668 1.07392699 5.41117272 6.48509970 960.91274970 B5 6.750000 % TOTALS 499.67339217 35.95167168 2.80712569 38.75879738 463.72172049 AX 69573CBB0 475.80413237 0.00000000 0.13839770 0.13839770 437.93670418 AX 0.349045 % ---------------------------------------------------------------------------------------------------------- ------------------------ IF THERE, ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: Robert Wainwright JPMorgan Chase Bank - Structured Finance Services 450 West 33 St, 14th fl, New York, New York 10001 Tel: (212)946-7551 Email: robert.wainwright@chase.com Copyright 2001 J.P. Morgan Chase & Co. All rights reserved. Total Funds 9,732,466.83 Sec. 4.04 (a)(i) Aggregate Principal Prepayment Amount 8,857,314.64 Aggregate Liquidation Proceeds Amount 0.00 Sec. 4.06(ii) Unpaid Interest Shortfalls for A1 0.00 A2 0.00 A3 0.00 A4 0.00 A5 0.00 A6 0.00 A7 0.00 A8 0.00 AR 0.00 AX 0.00 M 0.00 B1 0.00 B2 0.00 B3 0.00 B4 0.00 B5 0.00 Shortfalls Paid for A1 0.00 A2 0.00 A3 0.00 A4 0.00 A5 0.00 A6 0.00 A7 0.00 A8 0.00 AR 0.00 AX 0.00 M 0.00 B1 0.00 B2 0.00 B3 0.00 B4 0.00 B5 0.00 Sec. 4.06(v) Beginning Pool Stated Principal Balance 125,043,534.07 Ending Pool Stated Principal Balance 116,046,608.93 Sec. 4.06(vi) Senior Percentage for the following distribution date 91.181 % Subordinate Percentage for the following distribution date 8.819 % Sec. 4.06(vii) Master Servicing Fees 26,050.73 Trustee Fees 1,302.54 Sec. 4.06(ix) Current Advance 19,328.71 Aggregate Advances Outstanding 19,328.71 Sec. 4.06(x) Number and Aggregate Principal Balance of Delinquent Mortgage Loans Group 1 PERIOD NUMBER PRINCIPAL PERCENTAGE BALANCE --------------------------------------------------------------- 0-30 days 9 2,374,650.46 2.05 % 31-60 days 0 0.00 0.00 % 61-90 days 1 322,777.12 0.28 % 91+days 0 0.00 0.00 % Total 10 2,697,427.58 2.33 % --------------------------------------------------------------- Loans in Foreclosure Group 1 NUMBER PRINCIPAL BALANCE PERCENTAGE --------------------------------------------------------------- 0 0.00 0.00 % --------------------------------------------------------------- Total Number and Principal Balances of the REO Properties Group Totals NUMBER PRINCIPAL BALANCE PERCENTAGE --------------------------------------------------------------- 0 0.00 0.00 % --------------------------------------------------------------- Sec. 4.06(xiii) Senior Prepayment Percentage 100.00 % Sec. 4.06(xiv) Current Amount of Realized Losses 0.00 Sec. 4.06 (xv) Special Hazard Loss Coverage Amount 2,844,826.60 Fraud Loss Coverage Amount 1,534,404.34 Bankruptcy Loss Coverage Amount 100,000.00 Copyright 2001 J.P. Morgan Chase & Co. All rights reserved.

Exhibit 99.3 Monthly Certificateholder Statement on March 25, 2002 PaineWebber Mortgage Acceptance Corp. IV Mortgage Pass-Through Certificates, Series 1998-1 Statement to Certificate Holders March 25, 2002 ---------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION IN DOLLARS ---------------------------------------------------------------------------------------------------------------------------------- ORIGINAL BEGINNING ENDING FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE ---------------------------------------------------------------------------------------------------------------------------------- A1 168,680,000.00 34,948,858.62 3,765,637.88 196,587.33 3,962,225.21 0.00 0.00 31,183,220.74 A2 16,360,500.00 16,360,500.00 0.00 88,619.38 88,619.38 0.00 0.00 16,360,500.00 A3 5,330,000.00 5,330,000.00 0.00 31,091.67 31,091.67 0.00 0.00 5,330,000.00 A4 11,030,500.00 11,030,500.00 0.00 64,344.58 64,344.58 0.00 0.00 11,030,500.00 A5 9,750,000.00 9,750,000.00 0.00 21,531.25 21,531.25 0.00 0.00 9,750,000.00 A6 3,250,000.00 3,250,000.00 0.00 51,593.75 51,593.75 0.00 0.00 3,250,000.00 A7 19,852,941.00 19,852,941.00 0.00 43,014.71 43,014.71 0.00 0.00 19,852,941.00 A8 5,147,059.00 5,147,059.00 0.00 97,610.27 97,610.27 0.00 0.00 5,147,059.00 PO 213,572.38 156,618.05 221.50 0.00 221.50 0.00 0.00 156,396.55 AR 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 M 4,629,500.00 4,448,543.42 5,038.52 25,023.06 30,061.58 0.00 0.00 4,443,504.90 B1 2,377,000.00 2,284,088.47 2,587.01 12,848.00 15,435.01 0.00 0.00 2,281,501.46 B2 1,376,000.00 1,322,215.27 1,497.57 7,437.46 8,935.03 0.00 0.00 1,320,717.70 B3 751,000.00 721,645.12 817.35 4,059.25 4,876.60 0.00 0.00 720,827.77 B4 751,000.00 721,645.12 817.35 4,059.25 4,876.60 0.00 0.00 720,827.77 B5 751,363.93 721,995.18 817.75 4,061.22 4,878.97 0.00 0.00 721,177.43 TOTALS 250,250,536.31 116,046,609.25 3,777,434.93 651,881.18 4,429,316.11 0.00 0.00 112,269,174.32 AX 229,442,969.52 100,481,497.87 0.00 29,121.76 29,121.76 0.00 0.00 96,731,843.83 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES --------------------------------------------------------------------------------------------------------- ---------------------- BEGINNING ENDING CURRENT CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL CLASS PASS-THRU RATE --------------------------------------------------------------------------------------------------------- ---------------------- A1 69573CAT2 207.19029298 22.32415153 1.16544540 23.48959693 184.86614145 A1 6.750000 % A2 69573CAU9 1,000.00000000 0.00000000 5.41666697 5.41666697 1,000.00000000 A2 6.500000 % A3 69573CAV7 1,000.00000000 0.00000000 5.83333396 5.83333396 1,000.00000000 A3 7.000000 % A4 69573CAW5 1,000.00000000 0.00000000 5.83333303 5.83333303 1,000.00000000 A4 7.000000 % A5 69573CAX3 1,000.00000000 0.00000000 2.20833333 2.20833333 1,000.00000000 A5 2.650000 % A6 69573CAY1 1,000.00000000 0.00000000 15.87500000 15.87500000 1,000.00000000 A6 19.050000 % A7 69573CAZ8 1,000.00000000 0.00000000 2.16666689 2.16666689 1,000.00000000 A7 2.600000 % A8 69573CBA2 1,000.00000000 0.00000000 18.96428038 18.96428038 1,000.00000000 A8 22.757135 % PO 69573CBC8 733.32539535 1.03711913 0.00000000 1.03711913 732.28827623 PO 0.000000 % AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AR 6.750000 % M 69573CBE4 960.91228426 1.08835079 5.40513230 6.49348310 959.82393347 M 6.750000 % B1 69573CBF1 960.91227177 1.08835086 5.40513252 6.49348338 959.82392091 B1 6.750000 % B2 69573CBG9 960.91226017 1.08835029 5.40513081 6.49348110 959.82390988 B2 6.750000 % B3 69573CBH7 960.91227696 1.08834887 5.40512650 6.49347537 959.82392810 B3 6.750000 % B4 69573CBJ3 960.91227696 1.08834887 5.40512650 6.49347537 959.82392810 B4 6.750000 % B5 69573CBK0 960.91274970 1.08835408 5.40513037 6.49348446 959.82439562 B5 6.750000 % TOTALS 463.72172049 15.09461273 2.60491422 17.69952694 448.62710776 AX 69573CBB0 437.93670418 0.00000000 0.12692374 0.12692374 421.59428128 AX 0.347787 % ---------------------------------------------------------------------------------------------------------- ------------------------ IF THERE, ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: Robert Wainwright JPMorgan Chase Bank - Structured Finance Services 450 West 33 St, 14th fl, New York, New York 10001 Tel: (212)946-7551 Email: robert.wainwright@chase.com Copyright 2001 J.P. Morgan Chase & Co. All rights reserved. Total Funds 4,459,646.72 Sec. 4.04 (a)(i) Aggregate Principal Prepayment Amount 3,645,983.10 Aggregate Liquidation Proceeds Amount 0.00 Sec. 4.06(ii) Unpaid Interest Shortfalls for A1 0.00 A2 0.00 A3 0.00 A4 0.00 A5 0.00 A6 0.00 A7 0.00 A8 0.00 AR 0.00 AX 0.00 M 0.00 B1 0.00 B2 0.00 B3 0.00 B4 0.00 B5 0.00 Shortfalls Paid for A1 0.00 A2 0.00 A3 0.00 A4 0.00 A5 0.00 A6 0.00 A7 0.00 A8 0.00 AR 0.00 AX 0.00 M 0.00 B1 0.00 B2 0.00 B3 0.00 B4 0.00 B5 0.00 Sec. 4.06(v) Beginning Pool Stated Principal Balance 116,046,608.93 Ending Pool Stated Principal Balance 112,269,173.99 Sec. 4.06(vi) Senior Percentage for the following distribution date 90.894 % Subordinate Percentage for the following distribution date 9.106 % Sec. 4.06(vii) Master Servicing Fees 24,176.38 Trustee Fees 1,208.82 Sec. 4.06(ix) Current Advance 27,767.05 Aggregate Advances Outstanding 27,767.05 Sec. 4.06(x) Number and Aggregate Principal Balance of Delinquent Mortgage Loans Group 1 PERIOD NUMBER PRINCIPAL PERCENTAGE BALANCE --------------------------------------------------------------- 0-30 days 12 3,168,706.86 2.82 % 31-60 days 0 0.00 0.00 % 61-90 days 2 700,905.57 0.62 % 91+days 0 0.00 0.00 % Total 14 3,869,612.43 3.44 % --------------------------------------------------------------- Loans in Foreclosure Group 1 NUMBER PRINCIPAL BALANCE PERCENTAGE --------------------------------------------------------------- 0 0.00 0.00 % --------------------------------------------------------------- Total Number and Principal Balances of the REO Properties Group Totals NUMBER PRINCIPAL BALANCE PERCENTAGE --------------------------------------------------------------- 0 0.00 0.00 % --------------------------------------------------------------- Sec. 4.06(xiii) Senior Prepayment Percentage 100.00 % Sec. 4.06(xiv) Current Amount of Realized Losses 0.00 Sec. 4.06 (xv) Special Hazard Loss Coverage Amount 2,841,762.97 Fraud Loss Coverage Amount 1,534,404.34 Bankruptcy Loss Coverage Amount 100,000.00 Copyright 2001 J.P. Morgan Chase & Co. All rights reserved.

MORTGAGE PASS THR CERTS SER 1998-1 8-K