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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) September 8, 1997
FINANCIAL ASSET SECURITIES CORP., (as depositor)
FINANCIAL ASSET SECURITIES CORP.
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(Exact name of registrant as specified in its charter)
Delaware 333-29381 06-1442101
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
600 Steamboat Road
Greenwich, Connecticut 06830
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (203) 625-2700
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Item 5. Other Events.
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Filing of Derived Materials.
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In connection with the offering of the Home Loan Asset Backed Notes,
1997-4 (the "Notes") Greenwich Capital Markets, Inc. and Bear, Stearns & Co.
Inc. as underwriters of the Notes (together, the "Underwriters"), have
prepared certain materials (the "Derived Materials") for distribution to
their potential investors. Although the Registrant provided the Underwriters
with certain information regarding the characteristics of the assets in the
related portfolio, it did not participate in the preparation of the Derived
Materials.
For purposes of this Form 8-K, Derived Materials shall mean computer
generated tables and/or charts displaying, with respect to the Certificates,
any of the following: yield; average life, duration; expected maturity; loss
sensitivity; cash flow characteristics; background information regarding the
assets; the proposed structure; decrement tables; or similar information
(tabular or otherwise) of a statistical, mathematical, tabular or
computational nature, as well as certain matters relating to the collateral
for such transaction.
Item 7. Financial Statements, Pro Forma Financial
- ---- -----------------------------------------
Information and Exhibits.
------------------------
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99 Computational Materials for Series 1997-4.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FINANCIAL ASSET SECURITIES CORP.
By: /s/ Peter McMullin
---------------------
Peter McMullin
Dated: September 8, 1997
Exhibit Index
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Exhibit Page
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99. Computational Materials for Series 1997-4.
This Preliminary Term Sheet is provided for information purposes only, and
does not constitute an offer to sell, nor a solicitation of an offer to buy,
the referenced securities. It does not purport to be all-inclusive or to
contain all of the information that a prospective investor may require to
make a full analysis of the transaction. All amounts are approximate and
subject to change. The information contained herein supersedes information
contained in any prior information term sheet for this transaction. In
addition, the information contained herein may be superseded by information
contained in term sheets circulated after the date hereof and is qualified in
its entirety by information contained in the Prospectus and Prospectus
Supplement for this transaction. An offering may be made only through the
delivery of the Prospectus and Prospectus Supplement.
DATE PREPARED: 9/04/97
PRELIMINARY TERM SHEET
-----------------------
CITYSCAPE HOME LOAN OWNER TRUST 1997-4
HOME LOAN ASSET BACKED NOTES, SERIES 1997-4
$198,000,000
Financial Asset Securities Corp., Depositor
<TABLE>
<CAPTION>
Expected
WAL Payment Window Tanche Assumed Ratings
Class(1) Amount (Yrs)(2,3) (Mos)(2,3) Type Price Benchmark D&P/S&P
- --------- ------ ---------- ---------- ---- ----- --------- -------
<S> <C> <C> <C> <C> <C> <C>
A-1 $61,000,000 1.00 01-24 Sequential 100-00 1 M LIBOR AAA/AA
A-2 $46,000,000 3.02 24-50 Sequential 99-31+ 3 Yr. AAA/AA
A-3 $11,000,000 5.06 50-79 Sequential 100-00 5 Yr. AAA/AA
A-4 $13,500,000 10.59 Call/11.75 Mat 79-145 Call/79-228 Mat Sequential 99-30+ 6 5/8 5/07 AAA/AA
A-5 $11,500,000 6.73 Call/6.75 Mat 37-145 Call/37-226 Mat Lockout 99-30+ 7 1/4% 8/04 AAA/AA
M-1 $29,500,000 8.46 Call/8.99 Mat 53-145 Call/53-224 Mat Mezzanine 99-30+ 5 5/8 2/06 AA/AA
M-2 $13,500,000 8.46 Call/8.97 Mat 53-145 Call/53-214 Mat Mezzanine 99-31 5 5/8 2/06 A/A-
B $12,000,000 5.87 53-90 Subordinate 99-31+ 6 1/4% 2/03 BBB/BBB
Total $198,000,000
</TABLE>
(1) The Class A-1 Notes will be the "Variable Rate Notes" based on LIBOR
plus the Class A-1 pass-through margin. The pass-through rate on the
Variable Rate Notes will be subject to a cap of 12.00%. The Class A-2
through A-5, M-1, M-2 and B Notes will be the "Fixed Rate Notes". If
the clean-up call (as described below) is not exercised, the pass-
through rate on the Class A-4, A-5, M-1 and M-2 Notes will increase by
0.50% (50 basis points).
(2) The Class A-1 through A-3 and Class B Notes are unaffected by the clean-
up call at the Pricing Prepayment Speed (defined below). The Class A-
4, A-5, M-1 and M-2 Notes will be priced to the clean-up call and the
Class A-1 through A-3 and Class B Notes will be priced to Maturity.
(3) These Computational Materials should be accompanied by a one page
disclaimer which must be read in its entirety by the addressee of this
communication. If such disclaimer is not attached hereto, please
contact your sales representative. See "Pricing Prepayment Speed"
below.
Underwriters: Greenwich Capital Markets, Inc. (Lead Manager);
Bear, Stearns & Co., Inc.(Co-Manager).
Servicer: Cityscape Corp.
Depositor: Financial Asset Securities Corp.
Indenture Trustee: U.S. Bank National Association, d/b/a First Bank
National Association.
Owner Trustee: Wilmington Trust Company.
Federal Tax Status: It is anticipated that the Notes will be treated as
debt instruments for federal income tax purposes.
Registration: The Notes will be available in book-entry form
through DTC.
Expected Pricing
Date: Monday, September 8, 1997
Expected Settlement
Date: Tuesday, September 16, 1997
Accrued Interest: The price to be paid by investors for the Fixed Rate
Notes will include accrued interest from September
1, 1997 (the "Cut-off Date") up to, but not
including, the Settlement Date (15 days). The price
to be paid by investors for the Variable Rate Notes
will include accrued interest from September 12,
1997 (the "Closing Date") up to, but not including,
the Settlement Date (4 days).
Interest Accrual
Period: The interest accrual period for the first
Distribution Date with respect to the Fixed Rate
Notes will include 30 days of interest and with
respect to any subsequent Distribution Date will be
the calendar month preceding such Distribution Date
(based on a 360-day year consisting of twelve 30-day
day months). The interest accrual period for the
first Distribution Date with respect to the Variable
Rate Notes will include 43 days of interest and with
respect to any subsequent Distribution Date will be
the period beginning with the previous Distribution
Date and ending on the day prior to such
Distribution Date (actual/360).
Distribution Dates: 25th day of each month (or the next succeeding
business day) commencing October 25, 1997.
ERISA Eligibility: The Notes are expected to be ERISA eligible.
SMMEA Treatment: The Notes will not constitute "mortgage related
securities" for purposes of SMMEA.
Optional Termination: The transaction provides for a clean-up call which
may be exercised once the current principal balance
of the loans is equal to 10% or less of the Maximum
Collateral Amount (defined below).
Pricing Prepayment
Speed: Ramping from 4% CPR to 14% CPR at approximately
0.9091% increments, over 12 months.
Loans: The aggregate principal balance of the initial loans
("Initial Loans") will be approximately
$151,169,569.92 as of the Cut-off Date. The Cut-off
Date is the opening of business on September 1,
1997. A "Pre-Funding Account" will be established
on the Closing Date into which approximately
$48,830,430.08 in cash will be deposited. On or
prior to (October 31, 1997), the amount on deposit
in the Pre-Funding Account will be used to purchase
additional loans (to the extent available) having
similar characteristics as the Initial Loans (with
any unused portion of such deposit amount to be
distributed as principal on the Notes). The sum of
the applicable cut-off date principal balances of
the additional loans and the Cut-off Date principal
balances of the Initial Loans is the "Maximum
Collateral Amount".
Credit Enhancement: Credit enhancement for the Class A Notes will
consist of (i) excess cashflow, (ii) subordination
of the Class M-1, M-2 and B Notes (initially
(27.50%)) and (iii) overcollateralization (initially
1.00%).
Credit enhancement for the Class M-1
Notes will consist of (i) excess cashflow, (ii)
subordination of the Class M-2 and B Notes
(initially (12.75%)) and (iii) overcollateralization
(initially 1.00%).
Credit enhancement for the Class M-2 Notes will
consist of (i) excess cashflow, (ii) subordination
of the Class B Notes (initially (6.00%)) and (iii)
overcollateralization (initially 1.00%).
Credit enhancement for the Class B Notes will
consist of (i) excess cashflow and (ii)
overcollateralization (initially 1.00%).
Overcollateralization: The Notes will represent approximately 99% of the
sum of (i) the aggregate principal balance of the
Initial Loans as of the Cut-off Date and (ii) the
amount deposited in the Pre-Funding Account on the
Closing Date (such sum, the "Original Collateral
Principal Balance"); consequently, initial
overcollateralization of 1% will provide credit
protection for the Notes. On each Distribution Date
prior to the Stepdown Date (defined below) excess
interest will be paid as principal on the Notes
until the O/C reaches the greater of (i) 7.75% of
the Maximum Collateral Amount and (ii) the
Performance Trigger Amount. On and after the
Stepdown Date, O/C needs to be maintained at the
greater of (i) 15.50% of the current principal
balance of the loans and (ii) the Performance
Trigger Amount (the O/C is subject to a floor of
0.50% of the Maximum Collateral Amount).
Stepdown Date: The first Distribution Date occurring after
September 2000 as to which the credit enhancement
for the Class A Notes reaches its targeted level.
Performance
Trigger Amount: The Performance Trigger Amount is equal to the
difference between (A) (2.5) times the average of
60+ day delinquencies for the previous six months
and (B) excess cashflow for the previous three
Distribution Dates.
Priority of
Distributions: Available funds will be distributed first, to
interest on the Notes and second, as principal of
the Notes in the following order of priority.
Interest
--------
1) Class A Notes, current interest and unpaid interest shortfalls
2) Class M-1 Notes, current interest and unpaid interest
shortfalls
3) Class M-2 Notes, current interest and unpaid interest
shortfalls
4) Class B Notes, current interest and unpaid interest shortfalls
5) Excess interest will be paid as principal, subject to the O/C
target, based on the principal payment rules described below.
Principal (prior to the Stepdown Date)
---------
1) Class A-5 Notes in accordance with the following Lockout
Percentage:
October 1997 - September 2000 0%
October 2000 - September 2002 45%
October 2002 - September 2003 80%
October 2003 - September 2004 100%
October 2004 - 300%
2) Class A-1 through A-5 Notes, sequentially
3) Class M-1, M-2 and B Notes, sequentially (once Class A Notes
are retired)
Principal (on and after the Stepdown Date)
---------
* Principal will be distributed to each Class in order of
priority until the target principal balance and related target
credit enhancement level for each Class is reached (targeted
credit enhancement levels (i) are subject to the O/C floor, as
described above, and (ii) may change due to the application of
the Performance Trigger Amount).
Target % of Pool Target Credit Enhancement
---------------- -------------------------
Class A 29.50% 70.50%
Class M-1 29.50% 41.00%
Class M-2 13.50% 27.50%
Class B All remaining principal will be distributed to the Class B until
the principal balance of such Class is zero.
Any Remaining Funds
- -------------------
1) reimbursements of principal writedowns on the Notes
Collateral Description: Please see attached.
THE SERVICER
Cityscape Corporation ("Cityscape"), is a New York, Corporation that is a
wholly owned subsidiary of Cityscape Financial Corp., a publicly-traded
Delaware corporation, and is a full service mortgage banker engaged in the
business of originating, selling and servicing mortgage loans on one- to
four-family residential properties and small mixed-use properties, with an
emphasis on non-conforming first and second mortgages. Cityscape was
incorporated in New York in 1985 and currently is licensed as mortgage banker
or registered, as required, in 42 states and the District of Columbia.
All Loans underwritten by Cityscape will have been underwritten pursuant to
Cityscape's "Sav*-A-Loan" underwriting requirements. Generally, the "Sav*-A-
Loan" underwriting standards of Cityscape place a greater emphasis on the
creditworthiness of the borrower than on the underlying collateral in
evaluating the likelihood that a borrower will be able to repay a Loan.
Cityscape's "Sav*-A-Loan" program is designated for homeowners who may have
little or no equity in their property, but who possess good to excellent
credit histories and provable income, who use the proceeds for home
improvements or debt consolidation. Under the "Sav*-A-Loan" program,
Cityscape obtains credit information with respect to each applicant from two
sources and generally does not permit the ratio of total monthly debt
obligations to monthly gross income to exceed 45%. The applicant must
generally fall within one of the two highest credit classifications
established by Cityscape. The principal amount of the "Sav*-A-Loans"
purchased or originated by Cityscape generally ranges from a minimum of
$10,000 to a maximum of $75,000. None of the loans originated under the
"Sav*-A-Loan" program will have Combined Loan-to-Value Ratios in excess of
approximately 125%. Each such home loan must be secured by a first, second
or third lien on the related property. The property must be a completed and
owner-occupied one- or two-family property and must have been occupied for at
least six months.
Cityscape Home Loan Owner Trust 1997-4
Price-Yield Sensitivity Report
Tranche A-1
Amount 61,000,000
Settlement Date 09/16/97
Next Payment Date 10/25/97
Dated Date 9/12/97
Pass-Thru Margin 0.13%
Accrued Days 4.00
Cleanup Call No
Pricing Speed 4% to 14% over 12 Months
Base Ramp 0% 50% 75% 100% 150% 200%
Flat Price 100-00
Average Life (years) 4.61 1.52 1.19 1.00 0.80 0.69
Duration 3.70 1.39 1.11 0.94 0.76 0.66
First Principal Paymen 10/25/97 10/25/97 10/25/97 10/25/97 10/25/97 10/25/97
Last Principal Payment 6/25/07 1/25/01 3/25/00 9/25/99 2/25/99 11/25/98
Cityscape Home Loan Owner Trust 1997-4
Price-Yield Sensitivity Report
Tranche A-2
Amount 46,000,000
Settlement Date 9/16/97
Cut-off Date 9/1/97
Bond Coupon 6.72%
Next Payment Date 10/25/97
Cleanup Call No
Accrued Interest Days 15.00
Pricing Speed 4%-14% CPR over 12 Months
Base Ramp 0% 50% 75% 100% 150% 200%
Flat Price 100-00
Average Life (years) 11.91 5.27 3.84 3.02 2.14 1.68
Duration 7.96 4.28 3.27 2.65 1.93 1.54
First Principal Paymen 6/25/07 1/25/01 3/25/00 9/25/99 2/25/99 11/25/98
Last Principal Payment 11/25/11 8/25/05 2/25/03 11/25/01 7/25/00 11/25/99
Cityscape Home Loan O Cityscape Home Loan Owner Trust 1997-4
Price-Yield Sensitivity Report
Tranche A-3
Amount 11,000,000
Settlement Date 9/16/97
Cut-off Date 9/1/97
Bond Coupon 7.00%
Next Payment Date 10/25/97
Cleanup Call No
Accrued Interest Days 15.00
Pricing Speed 4%-14% CPR over 12 Months
Base Ramp 0% 50% 75% 100% 150% 200%
Flat Price 100-00
Average Life (years) 15.37 10.23 7.08 5.06 3.23 2.38
Duration 9.15 7.08 5.38 4.13 2.81 2.13
First Principal Paymen 11/25/11 8/25/05 2/25/03 11/25/01 7/25/00 11/25/99
Last Principal Payment 8/25/14 2/25/10 7/25/07 4/25/04 8/25/01 3/25/00
Cityscape Home Loan O Cityscape Home Loan Owner Trust 1997-4
Price-Yield Sensitivity Report
Tranche A-4
Amount 13,500,000
Settlement Date 9/16/97
Cut-off Date 9/1/97
Bond Coupon 7.33%
Next Payment Date 10/25/97
Cleanup Call No
Accrued Interest Days 15.00
Pricing Speed 4%-14% CPR over 12 Months
Base Ramp 0% 50% 75% 100% 150% 200%
Flat Price 100-00
Average Life (years) 18.59 15.59 13.77 11.75 7.64 2.75
Duration 9.87 8.98 8.34 7.51 5.44 2.42
First Principal Paymen 8/25/14 2/25/10 7/25/07 4/25/04 8/25/01 3/25/00
Last Principal Payment 8/25/17 6/25/17 3/25/17 9/25/16 6/25/14 8/25/00
Cityscape Home Loan O Cityscape Home Loan Owner Trust 1997-4
Price-Yield Sensitivity Report
Tranche A-5
Amount 11,500,000
Settlement Date 9/16/97
Cut-off Date 9/1/97
Bond Coupon 7.02%
Next Payment Date 10/25/97
Cleanup Call No
Accrued Interest Days 15.00
Pricing Speed 4%-14% CPR over 12 Months
Base Ramp 0% 50% 75% 100% 150% 200%
Flat Price 100-00
Average Life (years) 9.17 7.20 6.99 6.75 6.73 7.15
Duration 6.49 5.39 5.25 5.11 5.13 5.30
First Principal Paymen 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 8/25/00
Last Principal Payment 7/25/17 5/25/17 2/25/17 7/25/16 4/25/14 9/25/11
Cityscape Home Loan Owner Trust 1997-4
Price-Yield Sensitivity Report
Tranche M-1
Amount 29,500,000
Settlement Date 9/16/97
Cut-off Date 9/1/97
Bond Coupon 7.44%
Next Payment Date 10/25/97
Cleanup Call No
Accrued Interest Days 15.00
Pricing Speed 4%-14% CPR over 12 Months
Base Ramp 0% 50% 75% 100% 150% 200%
Flat Price 100-00
Average Life (years) 16.57 12.52 10.59 8.99 6.65 5.68
Duration 9.21 7.76 6.92 6.15 4.91 4.41
First Principal Paymen 12/25/10 2/25/05 4/25/03 2/25/02 10/25/00 4/25/01
Last Principal Payment 8/25/17 5/25/17 1/25/17 5/25/16 9/25/13 1/25/11
Cityscape Home Loan Owner Trust 1997-4
Price-Yield Sensitivity Report
Tranche M-2
Amount 13,500,000
Settlement Date 9/16/97
Cut-off Date 9/1/97
Bond Coupon 7.59%
Next Payment Date 10/25/97
Cleanup Call No
Accrued Interest Days 15.00
Pricing Speed 4%-14% CPR over 12 Months
Base Ramp 0% 50% 75% 100% 150% 200%
Flat Price 100-00
Average Life (years) 16.57 12.51 10.58 8.97 6.62 5.29
Duration 9.11 7.69 6.86 6.10 4.87 4.11
First Principal Paymen 12/25/10 2/25/05 4/25/03 2/25/02 10/25/00 1/25/01
Last Principal Payment 7/25/17 2/25/17 7/25/16 7/25/15 6/25/12 11/25/09
Cityscape Home Loan O Cityscape Home Loan Owner Trust 1997-4
Price-Yield Sensitivity Report
Tranche B
Amount 12,000,000
Settlement Date 9/16/97
Cut-off Date 9/1/97
Bond Coupon 7.97%
Next Payment Date 10/25/97
Cleanup Call No
Accrued Interest Days 15.00
Pricing Speed 4%-14% CPR over 12 Months
Base Ramp 0% 50% 75% 100% 150% 200%
Flat Price 100-00
Average Life (years) 14.47 9.39 7.32 5.87 4.13 3.38
Duration 8.32 6.38 5.35 4.52 3.39 2.87
First Principal Paymen 12/25/10 2/25/05 4/25/03 2/25/02 10/25/00 10/25/00
Last Principal Payment 9/25/13 2/25/09 12/25/06 3/25/05 1/25/03 9/25/01
Cityscape Home Loan Owner Trust 1997-4
Price-Yield Sensitivity Report
Tranche A-4
Amount 13,500,000
Settlement Date 9/16/97
Cut-off Date 9/1/97
Bond Coupon 7.33%
Next Payment Date 10/25/97
Cleanup Call Yes
Accrued Interest Days 15.00
Pricing Speed 4%-14% CPR over 12 Months
Base Ramp 0% 50% 75% 100% 150% 200%
Flat Price 100-00
Average Life (years) 18.34 14.64 12.71 10.59 6.54 2.75
Duration 9.80 8.71 8.01 7.10 4.96 2.42
First Principal Paymen 8/25/14 2/25/10 7/25/07 4/25/04 8/25/01 3/25/00
Last Principal Payment 7/25/16 4/25/13 7/25/11 10/25/09 9/25/06 8/25/00
Cityscape Home Loan Owner Trust 1997-4
Price-Yield Sensitivity Report
Tranche A-5
Amount 11,500,000
Settlement Date 9/16/97
Cut-off Date 9/1/97
Bond Coupon 7.02%
Next Payment Date 10/25/97
Cleanup Call Yes
Accrued Interest Days 15.00
Pricing Speed 4%-14% CPR over 12 Months
Base Ramp 0% 50% 75% 100% 150% 200%
Flat Price 100-00
Average Life (years) 9.17 7.20 6.98 6.73 6.61 5.93
Duration 6.49 5.39 5.25 5.11 5.07 4.66
First Principal Paymen 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 8/25/00
Last Principal Payment 7/25/16 4/25/13 7/25/11 10/25/09 9/25/06 8/25/04
Cityscape Home Loan O Cityscape Home Loan Owner Trust 1997-4
Price-Yield Sensitivity Report
Tranche M-1
Amount 29,500,000
Settlement Date 9/16/97
Cut-off Date 9/1/97
Bond Coupon 7.44%
Next Payment Date 10/25/97
Cleanup Call Yes
Accrued Interest Days 15.00
Pricing Speed 4%-14% CPR over 12 Months
Base Ramp 0% 50% 75% 100% 150% 200%
Flat Price 100-00
Average Life (years) 16.45 12.09 10.11 8.46 6.11 5.22
Duration 9.18 7.63 6.76 5.96 4.67 4.17
First Principal Paymen 12/25/10 2/25/05 4/25/03 2/25/02 10/25/00 4/25/01
Last Principal Payment 7/25/16 4/25/13 7/25/11 10/25/09 9/25/06 8/25/04
Cityscape Home Loan Owner Trust 1997-4
Price-Yield Sensitivity Report
Tranche M-2
Amount 13,500,000
Settlement Date 9/16/97
Cut-off Date 9/1/97
Bond Coupon 7.59%
Next Payment Date 10/25/97
Cleanup Call Yes
Accrued Interest Days 15.00
Pricing Speed 4%-14% CPR over 12 Months
Base Ramp 0% 50% 75% 100% 150% 200%
Flat Price 100-00
Average Life (years) 16.45 12.09 10.11 8.46 6.11 4.85
Duration 9.09 7.57 6.71 5.92 4.65 3.89
First Principal Paymen 12/25/10 2/25/05 4/25/03 2/25/02 10/25/00 1/25/01
Last Principal Payment 7/25/16 4/25/13 7/25/11 10/25/09 9/25/06 8/25/04
INDEX: Fixed Rate
TOTAL CUT-OFF DATE PRINCIPAL BALANCE: $151,169,569.92
NUMBER OF LOANS: 3,780
AVG CUT-OFF DATE PRINCIPAL BAL: $39,991.95 RANGE: $8,453.23 - $75,000.00
WEIGHTED AVERAGE MORTGAGE RATE: 14.18% RANGE: 11.25 - 16.99%
WEIGHTED AVERAGE COMBINED LTV: 117.79% RANGE: 67.48 - 126.11%
WEIGHTED AVERAGE COMBINED LTV (2ND+): 117.81% RANGE: 67.48 - 126.11%
WEIGHTED AVERAGE ORIGINAL STATED TERM: 219 months RANGE: 120 - 240 months
WEIGHTED AVERAGE REMAINING TERM: 218 months RANGE: 103 - 240 months
WEIGHTED AVERAGE MONTHS SEASONED: 1 months RANGE: 0 - 17 months
TOP STATE CONCENTRATIONS ($): 14.98% MD, 8.40% CA, 7.95% NY
MAXIMUM ZIP CODE CONCENTRATION ($): 0.54% 23456 (VIRGINIA BEACH, VA)
MATURE DATE: Mar 19, 2006 - Sep 01, 2017
** ALL INFORMATION IS SUBJECT TO THE DISCLAIMER AVAILABLE FROM THE GCMD MENU **
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CURRENT
PRINCIPAL BALANCE PCT($) # OF LOANS PCT(#)
CUT-OFF DATE BALANCE:
8,453.23 - 10,000.00 68,029.32 0.05 7 0.19
10,000.01 - 15,000.00 1,173,543.32 0.78 85 2.25
15,000.01 - 20,000.00 4,265,680.16 2.82 234 6.19
20,000.01 - 25,000.00 10,000,666.38 6.62 429 11.35
25,000.01 - 30,000.00 14,368,858.82 9.51 510 13.49
30,000.01 - 35,000.00 15,624,317.81 10.34 472 12.49
35,000.01 - 40,000.00 16,980,834.24 11.23 448 11.85
40,000.01 - 45,000.00 14,111,513.51 9.33 329 8.70
45,000.01 - 50,000.00 15,274,221.26 10.10 318 8.41
50,000.01 - 55,000.00 11,223,808.42 7.42 213 5.63
55,000.01 - 60,000.00 16,761,601.78 11.09 286 7.57
60,000.01 - 65,000.00 7,899,469.87 5.23 125 3.31
65,000.01 - 70,000.00 6,865,734.38 4.54 101 2.67
70,000.01 - 75,000.00 16,551,290.65 10.95 223 5.90
** ALL INFORMATION IS SUBJECT TO THE DISCLAIMER AVAILABLE FROM THE GCMD MENU **
~P
MORTGAGE RATE:
11.2500 - 11.5000 31,764.47 0.02 1 0.03
12.5001 - 13.0000 7,757,422.26 5.13 213 5.63
13.0001 - 13.5000 34,801,788.24 23.02 861 22.78
13.5001 - 14.0000 60,719,574.02 40.17 1,456 38.52
14.0001 - 14.5000 12,000,377.35 7.94 333 8.81
14.5001 - 15.0000 16,333,384.73 10.80 393 10.40
15.0001 - 15.5000 8,971,992.12 5.94 215 5.69
15.5001 - 16.0000 8,865,210.39 5.86 257 6.80
16.0001 - 16.5000 744,143.01 0.49 19 0.50
16.5001 - 16.9900 943,913.33 0.62 32 0.85
** ALL INFORMATION IS SUBJECT TO THE DISCLAIMER AVAILABLE FROM THE GCMD MENU **
~P
COMBINED ORIGINAL LTV:
67.48 - 70.00 30,390.41 0.02 1 0.03
75.01 - 80.00 19,000.00 0.01 1 0.03
80.01 - 85.00 131,188.28 0.09 6 0.16
85.01 - 90.00 446,216.42 0.30 15 0.40
90.01 - 95.00 1,250,321.81 0.83 34 0.90
95.01 - 100.00 2,737,809.20 1.81 83 2.20
100.01 - 105.00 7,860,477.64 5.20 210 5.56
105.01 - 110.00 13,000,993.07 8.60 368 9.74
110.01 - 115.00 20,017,603.10 13.24 524 13.86
115.01 - 120.00 26,602,448.22 17.60 651 17.22
120.01 - 125.00 78,778,848.94 52.11 1,881 49.76
125.01 - 126.11 294,272.83 0.19 6 0.16
REMAINING TERM:
103 - 108 22,848.60 0.02 2 0.05
109 - 120 57,005.88 0.04 2 0.05
169 - 180 52,256,900.79 34.57 1,480 39.15
217 - 228 201,699.17 0.13 5 0.13
229 - 240 98,631,115.48 65.25 2,291 60.61
** ALL INFORMATION IS SUBJECT TO THE DISCLAIMER AVAILABLE FROM THE GCMD MENU **
~P
MONTHS SEASONED:
0 39,895,556.35 26.39 993 26.27
1 56,683,774.73 37.50 1,419 37.54
2 39,687,878.05 26.25 1,007 26.64
3 9,704,871.52 6.42 233 6.16
4 2,079,180.10 1.38 51 1.35
5 1,642,337.87 1.09 40 1.06
6 883,308.44 0.58 21 0.56
7 59,314.78 0.04 1 0.03
9 44,591.76 0.03 1 0.03
10 52,231.86 0.03 2 0.05
11 211,976.69 0.14 5 0.13
12 117,174.70 0.08 4 0.11
13 98,919.84 0.07 2 0.05
17 8,453.23 0.01 1 0.03
AMORTIZATION:
Fully Amortizing 151,169,569.92 100.00 3,780 100.00
** ALL INFORMATION IS SUBJECT TO THE DISCLAIMER AVAILABLE FROM THE GCMD MENU **
~P
LIEN PRIORITY:
1st Lien 386,892.26 0.26 6 0.16
2nd Lien 144,238,651.13 95.42 3,636 96.19
3rd Lien 6,544,026.53 4.33 138 3.65
PROPERTY TYPE:
Single Family 148,489,964.42 98.23 3,714 98.25
2 Units 2,679,605.50 1.77 66 1.75
OCCUPANCY STATUS:
Owner Occupied 151,169,569.92 100.00 3,780 100.00
STATE:
Arizona 282,612.08 0.19 8 0.21
Arkansas 37,500.00 0.02 1 0.03
California 12,691,737.25 8.40 278 7.35
Colorado 4,079,695.23 2.70 88 2.33
Connecticut 3,208,946.70 2.12 84 2.22
Delaware 1,954,164.89 1.29 45 1.19
District of Columbia 653,974.81 0.43 15 0.40
Florida 11,310,443.80 7.48 320 8.47
Georgia 10,098,149.89 6.68 281 7.43
** ALL INFORMATION IS SUBJECT TO THE DISCLAIMER AVAILABLE FROM THE GCMD MENU **
~P
Hawaii 24,912.68 0.02 1 0.03
Idaho 86,786.27 0.06 4 0.11
Illinois 10,094,401.18 6.68 233 6.16
Indiana 3,011,529.25 1.99 89 2.35
Iowa 320,184.60 0.21 10 0.26
Kansas 507,297.31 0.34 14 0.37
Kentucky 1,738,790.50 1.15 46 1.22
Louisiana 53,438.07 0.04 2 0.05
Maine 61,175.70 0.04 2 0.05
Maryland 22,651,605.35 14.98 527 13.94
Massachusetts 5,355,812.05 3.54 120 3.17
Michigan 3,026,331.71 2.00 77 2.04
Minnesota 2,510,013.93 1.66 74 1.96
Mississippi 416,075.28 0.28 14 0.37
Missouri 1,157,206.36 0.77 33 0.87
Montana 29,909.60 0.02 1 0.03
Nebraska 183,214.42 0.12 8 0.21
New Hampshire 994,962.50 0.66 26 0.69
New Jersey 4,260,919.67 2.82 98 2.59
New Mexico 171,049.29 0.11 5 0.13
New York 12,025,438.54 7.95 291 7.70
North Carolina 5,965,676.88 3.95 159 4.21
** ALL INFORMATION IS SUBJECT TO THE DISCLAIMER AVAILABLE FROM THE GCMD MENU **
~P
Ohio 372,350.72 0.25 9 0.24
Oregon 96,451.11 0.06 2 0.05
Pennsylvania 7,049,443.08 4.66 190 5.03
Rhode Island 1,726,350.16 1.14 50 1.32
South Carolina 6,861,881.41 4.54 192 5.08
Tennessee 88,118.54 0.06 2 0.05
Utah 1,065,352.17 0.70 26 0.69
Virginia 11,471,655.18 7.59 273 7.22
Washington 133,161.71 0.09 4 0.11
Wisconsin 3,340,850.05 2.21 78 2.06
