Painewebber Mort Accept Corp Iv New South 1999 2 Sample Contracts

Painewebber Mort Accept Corp Iv New South 1999 2 – POOLING AND SERVICING AGREEMENT (December 10th, 1999)

================================================================================ POOLING AND SERVICING AGREEMENT Dated as of November 1, 1999 by and among PaineWebber Mortgage Acceptance Corporation IV (Depositor) and New South Federal Savings Bank (Transferor and Servicer) and The Bank of New York (Trustee) New South Home Equity Trust 1999-2 New South Home Equity Asset Backed Certificates, Series 1999-2 ================================================================================ TABLE OF CONTENTS

Painewebber Mort Accept Corp Iv New South 1999 2 – PAINEWEBBER MORTGAGE ACCEPTANCE CORPORATION IV, (December 10th, 1999)

MBIA INSURANCE CORPORATION, as Insurer NEW SOUTH FEDERAL SAVINGS BANK, as Servicer NEW SOUTH FEDERAL SAVINGS BANK, as Transferor PAINEWEBBER MORTGAGE ACCEPTANCE CORPORATION IV, as Depositor and THE BANK OF NEW YORK, as Trustee INSURANCE AGREEMENT New South Home Equity Trust 1999-2 Home Equity Asset Backed Certificates, Series 1999-2 $87,000,000 Class A-1 Certificates $22,000,000 7.130% Class A-2 Certificates $47,000,000 7.310% Class A-3 Certificates $29,000,000 7.590% Class A-4 Certifi

Painewebber Mort Accept Corp Iv New South 1999 2 – CERTIFICATE GUARANTY INSURANCE POLICY (December 10th, 1999)

CERTIFICATE GUARANTY INSURANCE POLICY OBLIGATIONS: New South Home Equity Trust 1999-2 POLICY NO: 30895 Home Equity Asset Backed Certificates, Series 1999-2 $87,000,000 Class A-1 Certificates $22,000,000 7.130% Class A-2 Certificates $47,000,000 7.310% Class A-3 Certificates $29,000,000 7.590% Class A-4 Certificates $20,155,000 7.780% Class A-5 Certificates $23,500,000 7.530% Class A-6 Certificates MBIA Insurance Corporation (the "Certificate Insurer"), in consideration of the payment of the premium and subject to the terms of this Certificate Guaranty Insurance Policy (this "Policy"), hereby unconditionally and irrevocably guarantees to any Owner that an amount equal to each full and complete Insured Payment will be received from the Certificate Insurer by The Bank of New York, or its successors, as trustee for the Owners (the "Trustee"), on behalf