- --------------------------------------------------------------------------------
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)
December 3, 1996
AMRESCO Residential Securities Corporation
------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-8687 75-2620414
- ----------------------------- -------------- -------------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
700 North Pearl Street
Suite 2400, LB #342
Dallas, Texas 75201-7424
- ---------------------------------- -------------------
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (214) 953-7700
----------------
No Change
--------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events.
In connection with the offering of AMRESCO Residential
Securities Corporation Mortgage Loan Pass-Through Certificates, Series 1996-5,
described in a Prospectus Supplement dated as of December 4, 1996, certain
"Computational Materials" within the meaning of the May 20, 1994 Kidder, Peabody
No-Action Letter and the February 17, 1995 Public Securities Association
No-Action Letter were furnished to certain prospective investors.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits:
99.1 Computational Materials of Prudential Securities Inc. relating
to the Offered Certificates.
99.2 Computational Materials of CS First Boston relating to the
Offered Certificates.
99.3 Computational Materials of Goldman, Sachs & Co. relating to
the Offered Certificates.
<PAGE>
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.
AMRESCO RESIDENTIAL SECURITIES CORPORATION,
as Depositor
By: /s/ Ronald B. Kirkland
----------------------------------------
Name: Ronald B. Kirkland
Title: Vice President and
Chief Accounting Officer
Dated: December 4, 1996
<PAGE>
EXHIBIT INDEX
Exhibit No. Description Page No.
99.1 Computational Materials of Prudential Securities
Inc. relating to the Offered Certificates.
_______
99.2 Computational Materials of CS First Boston
relating to the Offered Certificates _______
99.3 Computational Materials of Goldman, Sachs & Co.
relating to the Offered Certificates _______
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A Certificates
AMRESCO 1996-5
---------------------------------------------
$[ 42,200,000 ] Class A-1 Fixed Rate Certificates - [ TBA %]
$[ 29,000,000 ] Class A-2 Fixed Rate Certificates - [ TBA %]
$[ 16,500,000 ] Class A-3 Fixed Rate Certificates - [ TBA %]
$[ 17,000,000 ] Class A-4 Fixed Rate Certificates - [ TBA %]
$[ 15,000,000 ] Class A-5 Fixed Rate Certificates - [ TBA %]
$[ 15,900,000 ] Class A-6 Fixed Rate Certificates - [ TBA %]
$[ 14,400,000 ] Class A-7 Fixed Rate Certificates - [ TBA %]
$[550,000,000 ] Class A-8 Floating Rate Certificates - 1M LIBOR+ [ TBA %]
The information herein has been provided solely by PSI based on information with
respect to the mortgage loans provided by the AMRESCO Residential Securities
Corporation and its affiliates ("AMRESCO"). Neither AMRESCO nor any of its
affiliates makes any representation as to the accuracy or completeness of the
information herein. The information herein is preliminary and will be superseded
by the prospectus supplement and by any other information subsequently filed
with the Securities and Exchange Commissions (SEC). All assumptions and
information in this report reflect PSI's judgment as of this date and are
subject to change. All analyses are based on certain assumptions noted herein
and different assumptions could yield substantially different results. You are
cautioned that there is no universally accepted method for analyzing financial
instruments. You should review the assumptions; there may be differences between
these assumptions and your actual business practices. Further, PSI does not
guarantee any results and there is no guarantee as to the liquidity of the
instruments involved in this analysis. The decision to adopt any strategy
remains your responsibility. PSI (or any of its affiliates) or their officers,
directors, analysts or employees may have positions in securities, commodities
or derivative instruments thereon referred to here, and may, as principal or
agent, buy or sell such securities, commodities or derivative instruments. In
addition, PSI may make a market in the securities referred to herein. Neither
the information nor the assumptions reflected herein shall be construed to be,
or constitute, an offer to sell or buy or a solicitation of an offer to sell or
buy any securities, commodities or derivative instruments mentioned herein. No
sale of any securities, commodities or derivative instruments should be
consumated without the purchaser first having received a prospectus and, if
required, prospectus supplement. Finally, PSI has not addressed the legal,
accounting and tax implications of the analysis with respect to you, and PSI
strongly urges you to seek advice from your counsel, accountant and tax advisor.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A Certificates
ALL CERTIFICATES
----------------
<TABLE>
<S> <C>
Title of Securities: AMRESCO Residential Securities Corporation Mortgage Loan Trust 1996-5,
Group I: Class A-1 though Class A-7 (the "Fixed Rate Certificates")
Group II: Class A-8 (the "Adjustable Rate Certificates")
Depositor: AMRESCO Residential Securities Corporation
Seller: AMRESCO Residential Capital Markets, Inc.
Servicers: - Option One Mortgage Corporation and Advanta Mortgage Corp. USA will each service
a portion of the underlying collateral for the Group I Fixed Rate Certificates
and Group II Adjustable Rate Certificates.
Servicer Fee: 50 bps per annum
Trustee: Chase Manhattan Bank, N.A.
Pricing Date: December [4], 1996
Settlement Date: December [18], 1996
Principal Paydown: - All Group I principal pays the Group I Fixed Rate
Certificates (Classes A-1 through A-7) sequentially.
- All Group II principal is passed through to Class A-8.
Flow of Funds: GROUP I AND GROUP II MONTHLY CASH FLOWS
1) to each Servicer, any unreimbursed advanced on a mortgage loan which
is determined by the respective Servicer, in its good faith judgment, to not be
ultimately recoverable from either any future collections on such mortgage
loan or upon liquidation;
2) to each Servicer, the Servicer Fee;
3) to the Certificate Insurer, the Premium;
4) to the Trustee, the Trustee Fee;
GROUP I MONTHLY CASH FLOWS
5) accrued monthly interest pro-rata to the Class A-1, A-2, A-3, A-4, A-5, A-6
and A-7 Certificates;
6) monthly principal sequentially to the Class A-1, A-2, A-3, A-4, A-5, A-6
and A-7 Certificates;
7) to the Surety Provider, any unreimbursed draws;
8) to O/C up to its target amount as described below;
9) to Class A-8, if needed;
10) to Subordinated IO holder; and
11) to the Class R Certificate holders.
GROUP II MONTHLY CASH FLOWS
5) accrued monthly interest to the Class A-8 Certificates;
6) monthly principal to the Class A-8 Certificates;
7) to the Surety Provider, any unreimbursed draws;
8) to O/C up to its target amount as described below;
9) to Classes A-1, A-2, A-3, A-4, A-5, A-6 or A-7, if needed;
10) to Subordinated IO holder; and
11) to the Class R Certificate holders.
FOR A COMPLETE DESCRIPTION OF THE FLOW OF FUNDS, PLEASE REFER TO THE PROSPECTUS
SUPPLEMENT SECTION TITLED "DESCRIPTION OF THE CLASS A CERTIFICATES - DISTRIBUTIONS"
Credit Enhancement: A combination of:
- Excess monthly cash flow
- Overcollateralization
- Cross-collateralization
- 100% wrap from MBIA guaranteeing timely interest and
ultimate principal.
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU
DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS
STRUCTURAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE
STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A Certificates
ALL CERTIFICATES (cont.)
------------------------
Overcollateralization: The credit enhancement provisions of the Trust are
intended to provide for the limited acceleration of the
Certificates relative to the amortization of the
related collateral, generally in the early months of
the transaction. Accelerated amortization is achieved
by applying certain excess interest collected on the
collateral to the payment of principal on the
Certificates, resulting in the build up of
overcollateralization ("O/C"). By paying down the
principal balance of the certificates faster than the
principal amortization of the respective collateral
pool, an overcollateralization amount equal to the
excess of the aggregate principal balance of the
Collateral Pool over the principal balance of the
related Certificates is created. Excess cashflow will
be directed to build the O/C amount until the pool
reaches its required O/C target. Upon this event the
acceleration feature will cease, unless it is once
again necessary to maintain the required O/C level.
Certificate Insurer: MBIA
MBIA's claims-paying ability is rated AAA/Aaa/AAA by
Standard & Poor's, Moody's and Fitch.
Certificate Ratings: The Class A Certificates will be rated AAA by Standard
& Poor's, Aaa by Moody's Investors Service
Clean-up Calls: The Residual Holder has the option to excercise a call
when the outstanding Certificate Balance equals 10% or
less of the original principal balance of the
Certificates. If such call is not exercised, the
Servicers will have the option to purchase the mortgage
loans when the outstanding Certificate Balance has
declined to 5% of original. Each call will be
excercised at par plus accrued interest.
ERISA Consideration: The Class A Certificates will be ERISA
eligible following the expiration of the Prefunding
Period. However, investors should consult with their
counsel with respect to the consequences under ERISA
and the Internal Revenue Code of the Plan's acquisition
and ownership of such Certificates.
SMMEA Considerations: All Class A Certificates will be SMMEA eligible.
Taxation: REMIC.
Prospectus: The Certificates are being offered pursuant to a
Prospectus which includes a Prospectus Supplement
(together, the "Prospectus"). Complete information with
respect to the Certificates and the Collateral is
contained in the Prospectus. The foregoing is qualified
in its entirety by the information appearing in the
Prospectus. To the extent that the foregoing is
inconsistent with the Prospectus, the Prospectus shall
govern in all respects. Sales of the Certificates may
not be consumated unless the purchaser has received the
Prospectus.
Further Information: Call the desk at (212) 778-2741, Lirenn Tsai at (212)
778-3658, Benito Leon at (212) 778-2458, John Mawe at
(212) 778-1166, Sean Low at (212)778-2581, or Ravi
Gupta at (212)778-7448 with any questions.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU
DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS
STRUCTURAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE
STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5, Class A-1 through A-7 Certificates
- --------------------------------------------------------------------------------
GROUP I
CLASSES A-1 THROUGH A-7 FIXED RATE CERTIFICATES
<TABLE>
<CAPTION>
Collateral: Group One: Fixed Rate, First Lien Mortgage Loans.
Approximate Group Size: [150,000,000]
Class A-1 Class A-2 Class A-3 Class A-4 Class A-5
--------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
Approximate Face Amount: [$42,200,000] [$29,000,000] [$16,500,000] [$17,000,000] [$15,000,000]
Avg Life to 10% Call Date: [ .80] years [2.00] years [3.00] years [4.01] years [5.31] years
Avg. Life to Maturity (app.) [ .80] years [2.00] years [3.00] years [4.01] years [5.31] years
Pass-Through Rate: [ TBA ]%* [ TBA ]%* [ TBA ]%* [ TBA ]%* [ TBA ]%*
Price [ TBA ] [ TBA ] [ TBA ] [ TBA ] [ TBA ]
Spread: [ TBA ] [ TBA ] [ TBA ] [ TBA ] [ TBA ]
Pricing Speed [23]% HEP [23]% HEP [23]% HEP [23]% HEP [23]% HEP
Yield (CBE): [ TBA ] [ TBA ]% [ TBA ]% [ TBA ]% [ TBA ]%
Day Count: 30/360 30/360 30/360 30/360 30/360
Expected Maturity To Call: [5/25/98] [7/25/99] [5/25/00] [7/25/01] [1/25/03]
(at pricing speed)
Expected Maturity: [5/25/98] [7/25/99] [5/25/00] [7/25/01] [1/25/03]
(at pricing speed)
Stated Maturity: [8/25/11] [4/25/18] [10/25/20] [9/25/22] [3/25/24]
Class A-6 Class A-7
--------- ---------
Approximate Face Amount: $15,900,000 $14,400,000
Avg Life to 10% Call Date: [7.20] years [8.02] years
Avg. Life to Maturity (app.) [7.27] years [11.63] years
Pass-Through Rate: [ TBA ]% * [ TBA ]% * or [Coupon + 50 bps]% after Clean-up Call Date**
Price: [ TBA ] [ TBA ]
Spread: [ TBA ] [ TBA ]
Pricing Speed [23]% HEP [23]% HEP
Yield (CBE): [ TBA ]% [ TBA ]%
Day Count: 30/360 30/360
Expected Maturity To Call: [12/25/04] [12/25/04]
(at pricing speed)
Expected Maturity: [8/25/05] [9/25/15]
(at pricing speed)
Stated Maturity: [6/25/25] [11/25/26]
</TABLE>
* Coupon is subject to Available Funds
**Coupon Step-up is subject to the Available Funds Cap
Available Funds Cap: A rate equal to the weighted average net coupon rate
(i.e., the weighted average coupon rate less [0.65%]
for servicing fees, trustee fees and certificate
insurer premiums) for the Group I fixed-rate mortgage
loans for such Payment Date.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU
DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS
STRUCTURAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE
STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5, Class A-1 through A-7 Certificates
- --------------------------------------------------------------------------------
GROUP I
CLASSES A-1 THROUGH A-7 FIXED RATE CERTIFICATES (Cont.)
Pre-Funding Account: On the closing date, approximately [$32,917,298]
will be deposited in a pre-funding account for
the purchase of additional fixed rate mortgage
loans. From the closing date until [March]
1,1997, the Trust intends to purchase mortgage
loans up to the entire pre-funding amounts. The
additional mortgage loans, purchased with funds
deposited in the prefunding account, will be
subject to certain individual and aggregate
group characteristics that will be more fully
described in the Prospectus Supplement.
Funds remaining in the pre-funding account will
be distributed sequentially to the Class A-1,
A-2, A-3, A-4, A-5, A-6 and A-7
Certificateholders as prepayments based on the
cash flow priority on the [March], 1997
distribution date.
Payment Date: The 25th day of each month or, if such day is
not a business day, the next succeeding business
day, beginning on [January 27], 1997.
Payment Delay: 24 days for Certificate Classes A-1 through A-7.
Coupon Step-Up: If the Cleanup Call is not exercised, the coupon
on the Class A-7 Certificates shall be [Coupon +
50 bps per annum]; subject to the Available
Funds Cap.
Available Funds Cap: A rate equal to the weighted average net coupon
rate (i.e., the weighted average coupon rate
less [0.65%] for servicing fees, trustee fees
and certificate insurer premiums) for the Group
I fixed-rate mortgage loans for such Payment
Date.
Interest Accrual For Certificate Classes A-1 through A-7,
Period: interest will accrue from the 1st day of the
preceeding month until the 30th day of the
preceeding month.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU
DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS
STRUCTURAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE
STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A-8 Certificates
- --------------------------------------------------------------------------------
GROUP II
CLASS A-8 ADJUSTABLE RATE CERTIFCATES
Prepayment Assumption: [25]% HEP
Approximate Face Amount: [$550,000,000]
Average Life to Call: [3.19] years
Interest Payment: actual/360
Price: [100-00]
Pass-Through Rate: The lesser of:
1) One Month LIBOR + [TBA]bps
2) The Available Funds Cap
After the Clean-up Call, the lesser of:
1) One Month LIBOR + [2x TBA]
2) The Available Funds Cap
Available Funds Cap: A rate equal to the weighted average net coupon
rate (i.e., the weighted average coupon rate
less the sum of (a) [.65%] for servicing fees,
trustee fees, certificate insurer premiums and
(b) beginning on the [seventh] Payment Date
[.50%] for surety reserve strip) for the Group
II adjustable-rate mortgage loans for such
Payment Date.
Yield: Variable
Expected Maturity
to Call: [12/25/04] at pricing speed
Expected Maturity: [10/25/14] at pricing speed
Stated Maturity: [11/25/26]
Pre-Funding Account: On the closing date, approximately
[$108,865,023] will be deposited in a
pre-funding account for the purchase of
additional adjustable rate mortgage loans. From
the closing date until [March] 1, 1997, the
Trust intends to purchase mortgage loans up to
the entire pre-funding amounts. The additional
mortgage loans, purchaed with funds deposited in
the prefunding account, will be subject to
certain individual and aggregate group
characteristics that will be more fully
described in the Prospectus Supplement.
Funds remaining in the pre-funding account will
be distributed to the Class A-8
Certificateholders as prepayments on the
[March], 1997 distribution date.
Coupon Step-Up: If the Cleanup Call is not exercised, the coupon
on the Class A-8 Certificates shall be raised to
LIBOR + [2x Spread] subject to the Available
Funds Cap.
Payment Date: The 25th day of each month or, if such day is
not a business day, the next succeeding business
day, beginning on January 27, 1997.
Interest Accrual Period: Interest will accrue from the 25th day of the
preceeding month until the 24th day of the
current month (from Payment Date to Payment
Date).
Interest and Payment The interest rates and payments on the
Adjusments: underlying mortgage loans will generally adjust
semi-annually.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU
DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS
STRUCTURAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE
STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A Certificates
Available Pool
Information FIXED FLOATING
---------- ----------
Loans: [1,774] Loans:[4,523]
Balance:[117,082,702.14] Balance:[441,134,976.68]
WAC:[11.284]% WAC:[10.135]%
WAM:[318] WAM:[354]
WA LTV: [65.77]% WA LTV: [70.69]%
% 1st Liens: [100]% Gross Margin:[6.136]%
% of 5/25 Loans: [10.54] % 1st Liens: [100]%
% of 7/23 Loans: [0.26] % of 2/28 Loans: [34.41]
% of Balloon Loans: [8.41] % of 3/27 Loans: [17.63]
Credit Grade % of Balloons: [0]
PAG I: [9.77]% Credit Grade:
PAG II: [43.25]% PAG I: [6.98]%
PAG III:[17.49]% PAG II: [44.11]%
PAG IV: [8.77]% PAG III:[21.11]%
PAG V: [18.92]% PAG IV: [7.96]%
UNKNOWN: [1.81]% PAG V: [17.52]%
UNKNOWN: [2.33]%
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS,
AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A-1 Certificates
<TABLE>
<CAPTION>
CURRENT BALANCE: $42,200,000.00 DATED DATE: 12/01/96
COUPON: [ TBA]% amresco65 FIRST PAYMENT: 01/25/97
ORIGINAL BALANCE: $42,200,000.00 BOND A1 PRICE-YIELD TABLE YIELD TABLE DATE: 12/18/96
PREPAYMENT SPEED
PRICING SPEED
<S> <C> <C> <C> <C> <C> <C> <C>
GP I 23.0% 15.00% 18.00% 20.00% 26.00% 28.00% 30.00%
GP II 25.0% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
PRICE
99-24 6.323 6.386 6.361 6.345 6.302 6.288 6.275
99-24+ 6.302 6.370 6.343 6.326 6.279 6.264 6.250
99-25 6.281 6.355 6.326 6.307 6.257 6.241 6.226
99-25+ 6.261 6.340 6.308 6.289 6.234 6.217 6.201
99-26 6.240 6.324 6.291 6.270 6.212 6.194 6.176
99-26+ 6.219 6.309 6.274 6.251 6.189 6.170 6.152
99-27 6.199 6.294 6.256 6.232 6.167 6.146 6.127
99-27+ 6.178 6.279 6.239 6.214 6.144 6.123 6.102
99-28 6.157 6.263 6.221 6.195 6.122 6.099 6.077
99-28+ 6.137 6.248 6.204 6.176 6.099 6.076 6.053
99-29 6.116 6.233 6.187 6.158 6.077 6.052 6.028
99-29+ 6.096 6.218 6.169 6.139 6.054 6.028 6.003
99-30 6.075 6.203 6.152 6.120 6.032 6.005 5.979
99-30+ 6.054 6.187 6.135 6.101 6.010 5.981 5.954
99-31 6.034 6.172 6.117 6.083 5.987 5.958 5.929
99-31+ 6.013 6.157 6.100 6.064 5.965 5.934 5.905
100-00 5.993 6.142 6.083 6.045 5.942 5.911 5.880
100-00+ 5.972 6.126 6.065 6.027 5.920 5.887 5.855
100-01 5.951 6.111 6.048 6.008 5.898 5.864 5.831
100-01+ 5.931 6.096 6.031 5.989 5.875 5.840 5.806
100-02 5.910 6.081 6.013 5.971 5.853 5.817 5.782
100-02+ 5.890 6.066 5.996 5.952 5.831 5.793 5.757
100-03 5.869 6.051 5.979 5.933 5.808 5.770 5.732
100-03+ 5.849 6.035 5.961 5.915 5.786 5.746 5.708
100-04 5.828 6.020 5.944 5.896 5.764 5.723 5.683
100-04+ 5.808 6.005 5.927 5.878 5.741 5.699 5.659
100-05 5.787 5.990 5.910 5.859 5.719 5.676 5.634
100-05+ 5.767 5.975 5.892 5.840 5.697 5.652 5.609
100-06 5.746 5.959 5.875 5.822 5.674 5.629 5.585
100-06+ 5.725 5.944 5.858 5.803 5.652 5.605 5.560
100-07 5.705 5.929 5.840 5.784 5.630 5.582 5.536
100-07+ 5.684 5.914 5.823 5.766 5.607 5.558 5.511
First Payment 0.103 0.103 0.103 0.103 0.103 0.103 0.103
Average Life 0.800 1.098 0.957 0.886 0.734 0.697 0.665
Last Payment 1.436 2.103 1.769 1.686 1.353 1.269 1.186
Mod.Dur. @ 100-00 0.757 1.024 0.899 0.834 0.696 0.662 0.632
Accrued Interest 0.306 0.306 0.306 0.306 0.306 0.306 0.306
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL
INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A-2 Certificates
<TABLE>
<CAPTION>
CURRENT BALANCE: $29,000,000.00 DATED DATE: 12/01/96
COUPON: [ TBA]% amresco65 FIRST PAYMENT: 01/25/97
ORIGINAL BALANCE: $29,000,000.00 BOND A2 PRICE-YIELD TABLE YIELD TABLE DATE: 12/18/96
PREPAYMENT SPEED
PRICING SPEED
<S> <C> <C> <C> <C> <C> <C> <C>
GP I 23.0% 15.00% 18.00% 20.00% 26.00% 28.00% 30.00%
GP II 25.0% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
PRICE
99-25 6.273 6.307 6.294 6.286 6.261 6.253 6.245
99-25+ 6.265 6.301 6.287 6.278 6.252 6.243 6.234
99-26 6.256 6.295 6.280 6.271 6.242 6.233 6.223
99-26+ 6.248 6.289 6.273 6.263 6.233 6.223 6.213
99-27 6.239 6.283 6.266 6.255 6.223 6.212 6.202
99-27+ 6.231 6.277 6.259 6.248 6.214 6.202 6.191
99-28 6.222 6.271 6.253 6.240 6.204 6.192 6.181
99-28+ 6.214 6.265 6.246 6.233 6.195 6.182 6.170
99-29 6.205 6.259 6.239 6.225 6.185 6.172 6.159
99-29+ 6.197 6.253 6.232 6.218 6.176 6.162 6.148
99-30 6.188 6.247 6.225 6.210 6.166 6.152 6.138
99-30+ 6.179 6.241 6.218 6.202 6.157 6.142 6.127
99-31 6.171 6.235 6.211 6.195 6.147 6.132 6.116
99-31+ 6.162 6.229 6.204 6.187 6.138 6.122 6.105
100-00 6.154 6.223 6.197 6.180 6.128 6.111 6.095
100-00+ 6.145 6.218 6.190 6.172 6.119 6.101 6.084
100-01 6.137 6.212 6.183 6.165 6.109 6.091 6.073
100-01+ 6.128 6.206 6.176 6.157 6.100 6.081 6.063
100-02 6.120 6.200 6.170 6.150 6.090 6.071 6.052
100-02+ 6.111 6.194 6.163 6.142 6.081 6.061 6.041
100-03 6.103 6.188 6.156 6.134 6.072 6.051 6.031
100-03+ 6.094 6.182 6.149 6.127 6.062 6.041 6.020
100-04 6.086 6.176 6.142 6.119 6.053 6.031 6.009
100-04+ 6.077 6.170 6.135 6.112 6.043 6.021 5.998
100-05 6.069 6.164 6.128 6.104 6.034 6.011 5.988
100-05+ 6.060 6.158 6.121 6.097 6.024 6.001 5.977
100-06 6.052 6.152 6.114 6.089 6.015 5.990 5.966
100-06+ 6.043 6.146 6.107 6.082 6.005 5.980 5.956
100-07 6.035 6.141 6.101 6.074 5.996 5.970 5.945
100-07+ 6.026 6.135 6.094 6.067 5.987 5.960 5.934
100-08 6.018 6.129 6.087 6.059 5.977 5.950 5.924
100-08+ 6.009 6.123 6.080 6.052 5.968 5.940 5.913
First Payment 1.436 2.103 1.769 1.686 1.353 1.269 1.186
Average Life 2.001 2.962 2.507 2.275 1.788 1.671 1.569
Last Payment 2.603 3.853 3.269 2.936 2.269 2.186 2.019
Mod.Dur. @ 100-01 1.829 2.625 2.255 2.062 1.646 1.544 1.455
Accrued Interest 0.297 0.297 0.297 0.297 0.297 0.297 0.297
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL
INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A-3 Certificates
<TABLE>
<CAPTION>
CURRENT BALANCE: $16,500,000.00 DATED DATE: 12/01/96
COUPON: [ TBA]% amresco65 FIRST PAYMENT: 01/25/97
ORIGINAL BALANCE: $16,500,000.00 BOND A3 PRICE-YIELD TABLE YIELD TABLE DATE: 12/18/96
PREPAYMENT SPEED
PRICING SPEED
<S> <C> <C> <C> <C> <C> <C> <C>
GP I 23.0% 15.00% 18.00% 20.00% 26.00% 28.00% 30.00%
GP II 25.0% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
PRICE
99-25 6.433 6.457 6.448 6.442 6.424 6.418 6.411
99-25+ 6.427 6.453 6.443 6.437 6.417 6.411 6.404
99-26 6.421 6.449 6.438 6.431 6.411 6.404 6.396
99-26+ 6.415 6.445 6.434 6.426 6.404 6.397 6.389
99-27 6.409 6.441 6.429 6.421 6.397 6.390 6.381
99-27+ 6.403 6.436 6.424 6.416 6.391 6.383 6.374
99-28 6.398 6.432 6.419 6.411 6.384 6.375 6.366
99-28+ 6.392 6.428 6.415 6.406 6.378 6.368 6.359
99-29 6.386 6.424 6.410 6.400 6.371 6.361 6.351
99-29+ 6.380 6.420 6.405 6.395 6.365 6.354 6.344
99-30 6.374 6.416 6.400 6.390 6.358 6.347 6.336
99-30+ 6.368 6.412 6.396 6.385 6.352 6.340 6.329
99-31 6.362 6.408 6.391 6.380 6.345 6.333 6.322
99-31+ 6.356 6.404 6.386 6.374 6.339 6.326 6.314
100-00 6.351 6.400 6.381 6.369 6.332 6.319 6.307
100-00+ 6.345 6.396 6.377 6.364 6.325 6.312 6.299
100-01 6.339 6.392 6.372 6.359 6.319 6.305 6.292
100-01+ 6.333 6.388 6.367 6.354 6.312 6.298 6.284
100-02 6.327 6.383 6.362 6.348 6.306 6.291 6.277
100-02+ 6.321 6.379 6.358 6.343 6.299 6.285 6.269
100-03 6.315 6.375 6.353 6.338 6.293 6.278 6.262
100-03+ 6.310 6.371 6.348 6.333 6.286 6.271 6.254
100-04 6.304 6.367 6.344 6.328 6.280 6.264 6.247
100-04+ 6.298 6.363 6.339 6.323 6.273 6.257 6.239
100-05 6.292 6.359 6.334 6.317 6.267 6.250 6.232
100-05+ 6.286 6.355 6.329 6.312 6.260 6.243 6.225
100-06 6.280 6.351 6.325 6.307 6.254 6.236 6.217
100-06+ 6.274 6.347 6.320 6.302 6.247 6.229 6.210
100-07 6.269 6.343 6.315 6.297 6.241 6.222 6.202
100-07+ 6.263 6.339 6.310 6.291 6.234 6.215 6.195
100-08 6.257 6.335 6.306 6.286 6.227 6.208 6.187
100-08+ 6.251 6.331 6.301 6.281 6.221 6.201 6.180
First Payment 2.603 3.853 3.269 2.936 2.269 2.186 2.019
Average Life 3.003 4.531 3.808 3.441 2.662 2.475 2.307
Last Payment 3.436 5.269 4.353 3.936 3.019 2.853 2.603
Mod.Dur. @ 100-01 2.657 3.824 3.286 3.003 2.381 2.227 2.087
Accrued Interest 0.303 0.303 0.303 0.303 0.303 0.303 0.303
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL
INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A-4 Certificates
<TABLE>
<CAPTION>
CURRENT BALANCE: $17,000,000.00 DATED DATE: 12/01/96
COUPON: [TBA]% amresco65 FIRST PAYMENT: 01/25/97
ORIGINAL BALANCE: $17,000,000.00 BOND A4 PRICE-YIELD TABLE YIELD TABLE DATE: 12/18/96
PREPAYMENT SPEED
PRICING SPEED
<S> <C> <C> <C> <C> <C> <C> <C>
GP I 23.0% 15.00% 18.00% 20.00% 26.00% 28.00% 30.00%
GP II 25.0% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
PRICE
99-24 6.611 6.627 6.621 6.617 6.604 6.600 6.596
99-24+ 6.606 6.624 6.617 6.613 6.599 6.595 6.590
99-25 6.602 6.621 6.614 6.609 6.594 6.589 6.584
99-25+ 6.597 6.618 6.610 6.605 6.589 6.584 6.578
99-26 6.593 6.614 6.606 6.601 6.584 6.578 6.573
99-26+ 6.588 6.611 6.603 6.597 6.579 6.573 6.567
99-27 6.583 6.608 6.599 6.593 6.574 6.567 6.561
99-27+ 6.579 6.605 6.595 6.589 6.569 6.562 6.555
99-28 6.574 6.602 6.592 6.585 6.564 6.557 6.549
99-28+ 6.570 6.598 6.588 6.581 6.559 6.551 6.544
99-29 6.565 6.595 6.584 6.577 6.554 6.546 6.538
99-29+ 6.561 6.592 6.580 6.573 6.549 6.540 6.532
99-30 6.556 6.589 6.577 6.569 6.543 6.535 6.526
99-30+ 6.552 6.586 6.573 6.565 6.538 6.529 6.520
99-31 6.547 6.582 6.569 6.560 6.533 6.524 6.515
99-31+ 6.542 6.579 6.566 6.556 6.528 6.519 6.509
100-00 6.538 6.576 6.562 6.552 6.523 6.513 6.503
100-00+ 6.533 6.573 6.558 6.548 6.518 6.508 6.497
100-01 6.529 6.570 6.555 6.544 6.513 6.502 6.492
100-01+ 6.524 6.566 6.551 6.540 6.508 6.497 6.486
100-02 6.520 6.563 6.547 6.536 6.503 6.491 6.480
100-02+ 6.515 6.560 6.543 6.532 6.498 6.486 6.474
100-03 6.511 6.557 6.540 6.528 6.493 6.481 6.468
100-03+ 6.506 6.554 6.536 6.524 6.488 6.475 6.463
100-04 6.502 6.550 6.532 6.520 6.483 6.470 6.457
100-04+ 6.497 6.547 6.529 6.516 6.477 6.464 6.451
100-05 6.492 6.544 6.525 6.512 6.472 6.459 6.445
100-05+ 6.488 6.541 6.521 6.508 6.467 6.453 6.439
100-06 6.483 6.538 6.518 6.504 6.462 6.448 6.434
100-06+ 6.479 6.535 6.514 6.500 6.457 6.443 6.428
100-07 6.474 6.531 6.510 6.496 6.452 6.437 6.422
100-07+ 6.470 6.528 6.507 6.492 6.447 6.432 6.416
First Payment 3.436 5.269 4.353 3.936 3.019 2.853 2.603
Average Life 4.006 6.090 5.109 4.606 3.539 3.280 3.055
Last Payment 4.603 7.019 5.936 5.353 4.103 3.769 3.519
Mod.Dur. @ 100-00 3.424 4.878 4.218 3.863 3.070 2.869 2.691
Accrued Interest 0.310 0.310 0.310 0.310 0.310 0.310 0.310
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL
INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A-5 Certificates
<TABLE>
<CAPTION>
CURRENT BALANCE: $15,000,000.00 DATED DATE: 12/01/96
COUPON: [TBA]% amresco65 FIRST PAYMENT: 01/25/97
ORIGINAL BALANCE: $15,000,000.00 BOND A5 PRICE-YIELD TABLE YIELD TABLE DATE: 12/18/96
PREPAYMENT SPEED
PRICING SPEED
<S> <C> <C> <C> <C> <C> <C> <C>
GP I 23.0% 15.00% 18.00% 20.00% 26.00% 28.00% 30.00%
GP II 25.0% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
PRICE
99-24 6.749 6.762 6.757 6.754 6.744 6.740 6.737
99-24+ 6.745 6.759 6.754 6.751 6.740 6.736 6.732
99-25 6.742 6.757 6.751 6.748 6.736 6.732 6.728
99-25+ 6.738 6.754 6.748 6.744 6.732 6.728 6.723
99-26 6.735 6.752 6.745 6.741 6.728 6.723 6.719
99-26+ 6.731 6.749 6.742 6.738 6.724 6.719 6.714
99-27 6.727 6.746 6.739 6.735 6.720 6.715 6.710
99-27+ 6.724 6.744 6.737 6.732 6.716 6.710 6.705
99-28 6.720 6.741 6.734 6.728 6.712 6.706 6.700
99-28+ 6.717 6.739 6.731 6.725 6.708 6.702 6.696
99-29 6.713 6.736 6.728 6.722 6.704 6.698 6.691
99-29+ 6.709 6.734 6.725 6.719 6.700 6.693 6.687
99-30 6.706 6.731 6.722 6.716 6.696 6.689 6.682
99-30+ 6.702 6.728 6.719 6.712 6.692 6.685 6.678
99-31 6.699 6.726 6.716 6.709 6.688 6.681 6.673
99-31+ 6.695 6.723 6.713 6.706 6.684 6.676 6.669
100-00 6.691 6.721 6.710 6.703 6.680 6.672 6.664
100-00+ 6.688 6.718 6.707 6.700 6.676 6.668 6.660
100-01 6.684 6.716 6.704 6.696 6.672 6.664 6.655
100-01+ 6.681 6.713 6.701 6.693 6.668 6.659 6.650
100-02 6.677 6.710 6.698 6.690 6.664 6.655 6.646
100-02+ 6.674 6.708 6.695 6.687 6.660 6.651 6.641
100-03 6.670 6.705 6.692 6.684 6.656 6.646 6.637
100-03+ 6.666 6.703 6.690 6.680 6.652 6.642 6.632
100-04 6.663 6.700 6.687 6.677 6.648 6.638 6.628
100-04+ 6.659 6.698 6.684 6.674 6.644 6.634 6.623
100-05 6.656 6.695 6.681 6.671 6.640 6.629 6.619
100-05+ 6.652 6.692 6.678 6.668 6.636 6.625 6.614
100-06 6.648 6.690 6.675 6.664 6.632 6.621 6.610
100-06+ 6.645 6.687 6.672 6.661 6.628 6.617 6.605
100-07 6.641 6.685 6.669 6.658 6.624 6.612 6.601
100-07+ 6.638 6.682 6.666 6.655 6.620 6.608 6.596
First Payment 4.603 7.019 5.936 5.353 4.103 3.769 3.519
Average Life 5.311 8.085 6.789 6.117 4.679 4.329 4.024
Last Payment 6.103 9.103 7.769 7.019 5.353 4.936 4.603
Mod.Dur. @ 100-00 4.342 6.066 5.300 4.876 3.903 3.652 3.428
Accrued Interest 0.316 0.316 0.316 0.316 0.316 0.316 0.316
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL
INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A-6 Certificates
<TABLE>
<CAPTION>
CURRENT BALANCE: $15,900,000.00 DATED DATE: 12/01/96
COUPON: [TBA]% amresco65 FIRST PAYMENT: 01/25/97
ORIGINAL BALANCE: $15,900,000.00 BOND A6 PRICE-YIELD TABLE YIELD TABLE DATE: 12/18/96
PREPAYMENT SPEED
PRICING SPEED
<S> <C> <C> <C> <C> <C> <C> <C>
GP I 23.0% 15.00% 18.00% 20.00% 26.00% 28.00% 30.00%
GP II 25.0% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
PRICE
99-25 7.032 7.040 7.038 7.036 7.028 7.025 7.022
99-25+ 7.029 7.037 7.035 7.033 7.025 7.021 7.018
99-26 7.027 7.035 7.033 7.031 7.022 7.018 7.014
99-26+ 7.024 7.032 7.030 7.028 7.019 7.015 7.011
99-27 7.021 7.030 7.028 7.025 7.015 7.011 7.007
99-27+ 7.018 7.028 7.025 7.023 7.012 7.008 7.004
99-28 7.015 7.025 7.023 7.020 7.009 7.005 7.000
99-28+ 7.012 7.023 7.020 7.017 7.006 7.002 6.997
99-29 7.010 7.021 7.018 7.015 7.003 6.998 6.993
99-29+ 7.007 7.018 7.015 7.012 7.000 6.995 6.990
99-30 7.004 7.016 7.012 7.010 6.997 6.992 6.986
99-30+ 7.001 7.013 7.010 7.007 6.994 6.988 6.983
99-31 6.998 7.011 7.007 7.004 6.991 6.985 6.979
99-31+ 6.995 7.009 7.005 7.002 6.987 6.982 6.976
100-00 6.993 7.006 7.002 6.999 6.984 6.978 6.972
100-00+ 6.990 7.004 7.000 6.996 6.981 6.975 6.969
100-01 6.987 7.001 6.997 6.994 6.978 6.972 6.965
100-01+ 6.984 6.999 6.995 6.991 6.975 6.968 6.962
100-02 6.981 6.997 6.992 6.989 6.972 6.965 6.958
100-02+ 6.978 6.994 6.990 6.986 6.969 6.962 6.955
100-03 6.976 6.992 6.987 6.983 6.966 6.958 6.951
100-03+ 6.973 6.990 6.985 6.981 6.963 6.955 6.947
100-04 6.970 6.987 6.982 6.978 6.959 6.952 6.944
100-04+ 6.967 6.985 6.980 6.976 6.956 6.948 6.940
100-05 6.964 6.982 6.977 6.973 6.953 6.945 6.937
100-05+ 6.961 6.980 6.975 6.970 6.950 6.942 6.933
100-06 6.959 6.978 6.972 6.968 6.947 6.939 6.930
100-06+ 6.956 6.975 6.970 6.965 6.944 6.935 6.926
100-07 6.953 6.973 6.967 6.962 6.941 6.932 6.923
100-07+ 6.950 6.971 6.965 6.960 6.938 6.929 6.919
100-08 6.947 6.968 6.962 6.957 6.935 6.925 6.916
100-08+ 6.944 6.966 6.960 6.955 6.932 6.922 6.912
First Payment 6.103 9.103 7.769 7.019 5.353 4.936 4.603
Average Life 7.196 9.103 8.476 7.990 6.396 5.911 5.487
Last Payment 8.019 9.103 8.603 8.353 7.686 7.103 6.603
Mod.Dur. @ 100-01 5.490 6.550 6.219 5.949 5.004 4.698 4.422
Accrued Interest 0.329 0.329 0.329 0.329 0.329 0.329 0.329
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL
INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A-7 Certificates
<TABLE>
<CAPTION>
CURRENT BALANCE: $14,400,000.00 DATED DATE: 12/01/96
COUPON: [TBA]% amresco65 FIRST PAYMENT: 01/25/97
FACTOR: 1.0000000000 TOTAL CLASSES: 8
ORIGINAL BALANCE: $14,400,000.00 BOND A7 PRICE-YIELD TABLE YIELD TABLE DATE: 12/18/96
PREPAYMENT SPEED
PRICING SPEED
<S> <C> <C> <C> <C> <C> <C> <C>
GP I 23.0% 15.00% 18.00% 20.00% 26.00% 28.00% 30.00%
GP II 25.0% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
PRICE
99-24 7.219 7.223 7.221 7.220 7.219 7.218 7.217
99-24+ 7.217 7.220 7.219 7.218 7.216 7.215 7.214
99-25 7.214 7.218 7.216 7.215 7.213 7.212 7.211
99-25+ 7.211 7.215 7.214 7.213 7.211 7.209 7.208
99-26 7.209 7.213 7.211 7.210 7.208 7.207 7.206
99-26+ 7.206 7.210 7.209 7.208 7.205 7.204 7.203
99-27 7.203 7.208 7.206 7.205 7.202 7.201 7.200
99-27+ 7.201 7.206 7.204 7.202 7.200 7.199 7.197
99-28 7.198 7.203 7.201 7.200 7.197 7.196 7.195
99-28+ 7.195 7.201 7.199 7.197 7.194 7.193 7.192
99-29 7.193 7.198 7.196 7.195 7.192 7.190 7.189
99-29+ 7.190 7.196 7.194 7.192 7.189 7.188 7.186
99-30 7.188 7.194 7.191 7.190 7.186 7.185 7.183
99-30+ 7.185 7.191 7.189 7.187 7.184 7.182 7.181
99-31 7.182 7.189 7.186 7.185 7.181 7.179 7.178
99-31+ 7.180 7.187 7.184 7.182 7.178 7.177 7.175
100-00 7.177 7.184 7.181 7.179 7.176 7.174 7.172
100-00+ 7.174 7.182 7.179 7.177 7.173 7.171 7.169
100-01 7.172 7.179 7.176 7.174 7.170 7.169 7.167
100-01+ 7.169 7.177 7.174 7.172 7.168 7.166 7.164
100-02 7.167 7.175 7.171 7.169 7.165 7.163 7.161
100-02+ 7.164 7.172 7.169 7.167 7.162 7.160 7.158
100-03 7.161 7.170 7.166 7.164 7.160 7.158 7.156
100-03+ 7.159 7.167 7.164 7.162 7.157 7.155 7.153
100-04 7.156 7.165 7.161 7.159 7.154 7.152 7.150
100-04+ 7.153 7.163 7.159 7.156 7.152 7.149 7.147
100-05 7.151 7.160 7.156 7.154 7.149 7.147 7.144
100-05+ 7.148 7.158 7.154 7.151 7.146 7.144 7.142
100-06 7.146 7.155 7.151 7.149 7.144 7.141 7.139
100-06+ 7.143 7.153 7.149 7.146 7.141 7.139 7.136
100-07 7.140 7.151 7.146 7.144 7.138 7.136 7.133
100-07+ 7.138 7.148 7.144 7.141 7.136 7.133 7.131
First Payment 8.019 9.103 8.603 8.353 7.686 7.103 6.603
Average Life 8.019 9.103 8.603 8.353 7.848 7.627 7.423
Last Payment 8.019 9.103 8.603 8.353 7.853 7.686 7.603
Mod.Dur. @ 100-00 5.927 6.499 6.241 6.108 5.833 5.709 5.592
Accrued Interest 0.338 0.338 0.338 0.338 0.338 0.338 0.338
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL
INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A-8 Certificates
<TABLE>
<CAPTION>
CURRENT BALANCE: $550,000,000.00 DATED DATE: 12/18/96
CURRENT COUPON: [TBA]% amresco65 FIRST PAYMENT: 01/25/97
ORIGINAL BALANCE: $550,000,000.00 BOND A8 DISCOUNT MARGIN ACT/360 TABLE YIELD TABLE DATE: 12/18/96
ASSUMED CONSTANT LIBOR-1M 5.5625
PRICING SPEED
<S> <C> <C> <C> <C> <C> <C> <C>
GP I 23.0% 23.00% 23.00% 23.00% 23.00% 23.00% 23.00%
GP II 25.0% 15.00% 18.00% 22.00% 28.00% 32.00% 34.00%
PRICE
99-28 28.478 27.005 27.446 28.032 28.920 29.521 29.828
99-28+ 27.918 26.629 27.015 27.528 28.304 28.830 29.099
99-29 27.358 26.253 26.584 27.023 27.689 28.140 28.370
99-29+ 26.798 25.877 26.153 26.519 27.074 27.449 27.641
99-30 26.238 25.502 25.722 26.015 26.459 26.759 26.913
99-30+ 25.678 25.126 25.291 25.511 25.844 26.069 26.184
99-31 25.119 24.751 24.861 25.007 25.229 25.379 25.456
99-31+ 24.559 24.375 24.430 24.504 24.614 24.690 24.728
100-00 24.000 24.000 24.000 24.000 24.000 24.000 24.000
100-00+ 23.441 23.625 23.570 23.497 23.386 23.311 23.272
100-01 22.882 23.250 23.140 22.993 22.772 22.622 22.545
100-01+ 22.323 22.875 22.710 22.490 22.158 21.933 21.818
100-02 21.764 22.500 22.280 21.987 21.544 21.244 21.090
100-02+ 21.206 22.125 21.850 21.484 20.930 20.555 20.363
100-03 20.648 21.751 21.421 20.982 20.317 19.867 19.637
100-03+ 20.089 21.376 20.991 20.479 19.704 19.178 18.910
100-04 19.531 21.002 20.562 19.976 19.091 18.490 18.184
First Payment 0.103 0.103 0.103 0.103 0.103 0.103 0.103
Average Life 3.185 5.150 4.346 3.601 2.859 2.510 2.362
Last Payment 8.019 12.269 10.519 8.936 7.353 6.603 6.269
Mod.Dur. @ 100-00 2.689 4.008 3.495 2.987 2.448 2.182 2.067
Accrued Interest 0.000 0.000 0.000 0.000 0.000 0.000 0.000
</TABLE>
<TABLE>
<CAPTION>
A-8 AVAILABLE FUNDS SCHEDULE
PAYMENT
DATE COUPON
- -------- ------
<S> <C> <C>
01/25/97 9.51
02/25/97 9.53
03/25/97 9.66 Available Funds information on Certificate A-8 Floating Rate Tranche:
04/25/97 9.81
05/25/97 9.91 The Class A-8 Certificates are subject to an available funds cap:
06/25/97 9.93
07/25/97 9.48 Available Funds Rate on A-8 =
08/25/97 9.52 (Group 2 Collateral Interest% - Servicing Fee% - Ongoing Trust Fees% - MBIA cushion%)
09/25/97 9.60
10/25/97 9.72
11/25/97 9.82 Servicing Fee is 50 bps
12/25/97 9.84 Ongoing Trust Fees are 15 bps
01/25/98 9.89 MBIA Cushion is 50bps (starting month 7)
02/25/98 9.93
03/25/98 9.93
04/25/98 9.93 Schedule to left run assuming constant 6MO LIBOR 5.543%
05/25/98 9.97 (Weighted average Gross Life Cap on Group 2 - 16.547%,
06/25/98 9.99 Weighted Net Life Cap on Group 2 (less fees/cushion) - 15.397%)
07/25/98 10.01
08/25/98 10.03
09/25/98 10.11
10/25/98 10.22
11/25/98 10.36
12/25/98 10.48
01/25/99 10.54
02/25/99 10.54
03/25/99 10.54
04/25/99 10.54
05/25/99 10.54
06/25/99 10.56
07/25/99 10.56
08/25/99 10.56
09/25/99 10.56
10/25/99 10.57
11/25/99 10.57
12/25/99 10.57 and thereafter
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL
INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A Certificates
- --------------------------------------------------------------------------------
- AMRESCO65
- 12/1/96 Scheduled Balances
- GROUP I
- $117,082,702.14
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 1,774
Aggregate Unpaid Principal Balance: $117,082,702.14
Aggregate Original Principal Balance: $117,304,076.78
- --------------------------------------------------------------------------------
Weighted Average Coupon (Gross): 11.284%
Gross Coupon Range: 7.000% - 17.800%
Average Unpaid Principal Balance: $65,999.27
Average Original Principal Balance: $66,124.06
Maximum Unpaid Principal Balance: $599,579.63
Minimum Unpaid Principal Balance: $9,928.15
Maximum Original Principal Balance: $601,250.00
Minimum Original Principal Balance: $10,000.00
Weighted Avg. Stated Rem. Term (LPD to Mat Date): 318.446
Stated Rem Term Range: 58.000 - 359.000
Weighted Average Age (First Pay thru Last Pay): 2.828
Age Range: 1.000 - 13.000
Weighted Average Original Term: 321.274
Original Term Range: 60.000 - 360.000
Weighted Average Original LTV: 65.771 *
Original LTV Range: 1.467% - 90.000%
- --------------------------------------------------------------------------------
*excludes loans with missing ltv
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A Certificates
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
AL 1 47,941.71 0.04
AR 15 531,614.76 0.45
AZ 27 1,716,390.78 1.47
CA 356 32,488,905.23 27.75
CO 69 4,847,123.03 4.14
CT 4 201,855.00 0.17
DC 14 1,248,559.02 1.07
DE 5 503,061.62 0.43
FL 172 9,152,393.57 7.82
GA 35 1,870,202.76 1.60
HI 54 9,971,480.59 8.52
IA 1 40,946.28 0.03
ID 13 676,342.35 0.58
IL 166 9,174,127.41 7.84
IN 77 2,980,360.09 2.55
KS 4 121,244.09 0.10
KY 17 682,304.21 0.58
LA 32 1,048,454.80 0.90
MA 36 2,977,130.41 2.54
MD 34 2,795,295.02 2.39
ME 2 125,843.51 0.11
MI 40 1,800,597.66 1.54
MN 15 1,062,933.21 0.91
MO 29 996,282.95 0.85
MS 9 310,827.06 0.27
NC 33 1,251,771.85 1.07
NE 9 353,173.40 0.30
NH 1 76,920.85 0.07
NJ 12 1,536,309.32 1.31
NM 6 344,490.91 0.29
NV 14 1,138,809.28 0.97
NY 11 969,809.94 0.83
OH 86 3,948,236.94 3.37
OK 7 301,933.19 0.26
OR 54 3,749,093.63 3.20
PA 31 1,080,393.05 0.92
RI 9 630,958.51 0.54
SC 26 827,692.79 0.71
TN 32 1,005,803.39 0.86
TX 75 3,411,252.47 2.91
UT 33 2,603,761.97 2.22
VA 38 2,426,599.01 2.07
WA 44 2,883,482.31 2.46
WI 17 738,665.61 0.63
WV 6 198,889.74 0.17
WY 3 232,436.86 0.20
- --------------------------------------------------------------------------
Total............... 1774 $117,082,702.14 100.00%
==========================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A Certificates
ORIGINAL LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
<S> <C> <C> <C>
LTV equals 0.000 1 19,840.26 0.02
0.000 less than LTV equal to or less than 5.000 1 43,693.19 0.04
10.000 less than LTV equal to or less than 15.000 3 73,727.39 0.06
15.000 less than LTV equal to or less than 20.000 7 243,084.23 0.21
20.000 less than LTV equal to or less than 25.000 24 838,056.41 0.72
25.000 less than LTV equal to or less than 30.000 31 1,163,735.51 0.99
30.000 less than LTV equal to or less than 35.000 43 2,031,166.70 1.73
35.000 less than LTV equal to or less than 40.000 46 2,509,331.52 2.14
40.000 less than LTV equal to or less than 45.000 59 2,599,709.12 2.22
45.000 less than LTV equal to or less than 50.000 113 5,601,773.89 4.78
50.000 less than LTV equal to or less than 55.000 112 5,687,404.82 4.86
55.000 less than LTV equal to or less than 60.000 211 11,521,142.88 9.84
60.000 less than LTV equal to or less than 65.000 287 19,265,509.13 16.45
65.000 less than LTV equal to or less than 70.000 299 19,958,849.36 17.05
70.000 less than LTV equal to or less than 75.000 335 28,190,588.91 24.08
75.000 less than LTV equal to or less than 80.000 151 12,743,084.34 10.88
80.000 less than LTV equal to or less than 85.000 37 3,412,493.17 2.91
85.000 less than LTV equal to or less than 90.000 14 1,179,511.31 1.01
- ---------------------------------------------------------------------------------------------------
Total............................................... 1774 $117,082,702.14 100.00%
===================================================================================================
</TABLE>
GROSS MORTGAGE INTEREST RATE RANGE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
<S> <C> <C> <C>
6.50% less than Gross Coupon equal to or less than 7.00% 1 21,322.26 0.02
7.00% less than Gross Coupon equal to or less than 7.50% 1 164,753.84 0.14
7.50% less than Gross Coupon equal to or less than 8.00% 4 367,176.62 0.31
8.00% less than Gross Coupon equal to or less than 8.50% 7 469,362.75 0.40
8.50% less than Gross Coupon equal to or less than 9.00% 52 5,661,168.94 4.84
9.00% less than Gross Coupon equal to or less than 9.50% 86 10,120,244.68 8.64
9.50% less than Gross Coupon equal to or less than 10.00% 172 16,758,438.02 14.31
10.00% less than Gross Coupon equal to or less than 10.50% 137 10,865,172.99 9.28
10.50% less than Gross Coupon equal to or less than 11.00% 197 15,119,565.90 12.91
11.00% less than Gross Coupon equal to or less than 11.50% 164 10,381,359.69 8.87
11.50% less than Gross Coupon equal to or less than 12.00% 201 11,931,872.63 10.19
12.00% less than Gross Coupon equal to or less than 12.50% 152 8,481,978.11 7.24
12.50% less than Gross Coupon equal to or less than 13.00% 197 9,188,664.73 7.85
13.00% less than Gross Coupon equal to or less than 13.50% 139 6,031,442.50 5.15
13.50% less than Gross Coupon equal to or less than 14.00% 95 4,411,155.07 3.77
14.00% less than Gross Coupon equal to or less than 14.50% 69 2,969,735.84 2.54
14.50% less than Gross Coupon equal to or less than 15.00% 63 2,530,190.48 2.16
15.00% less than Gross Coupon equal to or less than 15.50% 27 1,295,209.63 1.11
15.50% less than Gross Coupon equal to or less than 16.00% 7 232,064.04 0.20
16.50% less than Gross Coupon equal to or less than 17.00% 1 35,985.58 0.03
17.50% less than Gross Coupon equal to or less than 18.00% 2 45,837.84 0.04
- ------------------------------------------------------------------------------------------------------
Total..................................... 1774 $117,082,702.14 100.00%
======================================================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A Certificates
CURRENT MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C>
Balance equal to or less than 50,000 889 29,093,438.40 24.85
50,000 less than Balance equal to or less than 100,000 600 43,035,688.06 36.76
100,000 less than Balance equal to or less than 150,000 184 21,856,867.58 18.67
150,000 less than Balance equal to or less than 200,000 53 9,229,457.11 7.88
200,000 less than Balance equal to or less than 250,000 20 4,449,242.44 3.80
250,000 less than Balance equal to or less than 300,000 12 3,234,009.86 2.76
300,000 less than Balance equal to or less than 350,000 6 2,008,941.66 1.72
350,000 less than Balance equal to or less than 400,000 6 2,264,992.75 1.93
400,000 less than Balance equal to or less than 450,000 3 1,310,484.65 1.12
550,000 less than Balance equal to or less than 600,000 1 599,579.63 0.51
- ------------------------------------------------------------------------------------------------------
Total............................................... 1774 $117,082,702.14 100.00%
======================================================================================================
</TABLE>
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Single-family 1501 96,541,563.38 82.46
PUD 44 4,658,779.44 3.98
Townhouses 4 326,968.15 0.28
Manufactured Housing 9 425,637.57 0.36
Condominiums 48 3,199,571.42 2.73
2-4 Family 165 11,771,242.57 10.05
Other 3 158,939.61 0.14
- --------------------------------------------------------------------------
Total............... 1774 $117,082,702.14 100.00%
==========================================================================
YEARS OF ORIGINATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Year of Mortgage Principal Principal
Origination Loans Balance Balance
1995 2 91,840.23 0.08
1996 1772 116,990,861.91 99.92
- --------------------------------------------------------------------------
Total................. 1774 $117,082,702.14 100.00%
==========================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A Certificates
REMAINING MONTHS TO STATED MATURITY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
<S> <C> <C> <C>
48 less than Rem Term equal to or less than 60 1 29,237.48 0.02%
168 less than Rem Term equal to or less than 180 478 24,584,747.33 21.00%
228 less than Rem Term equal to or less than 240 20 834,576.73 0.71%
336 less than Rem Term equal to or less than 348 1 28,692.29 0.02%
348 less than Rem Term equal to or less than 360 1,274 91,605,448.31 78.24%
- -------------------------------------------------------------------------------------------------
Total......................................... 1,774 117,082,702.14 100.00%
=================================================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Owner Occ. 1499 102,360,510.14 87.43
Non Owner Occ. 274 14,693,500.85 12.54
Unknown 1 28,691.15 0.02
- --------------------------------------------------------------------------
Total.................. 1774 $117,082,702.14 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
GROSS MARGIN
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Margin Loans Balance Balance
<S> <C> <C> <C>
5.000 Gross Margin equal to or less than 5.500 9 993,585.84 7.86
5.500 Gross Margin equal to or less than 6.000 30 4,322,971.36 34.18
6.000 Gross Margin equal to or less than 6.500 33 3,012,743.24 23.82
6.500 Gross Margin equal to or less than 7.000 21 1,841,396.22 14.56
7.000 Gross Margin equal to or less than 7.500 15 1,296,149.96 10.25
7.500 Gross Margin equal to or less than 8.000 16 867,710.57 6.86
8.000 Gross Margin equal to or less than 8.500 6 223,758.47 1.77
9.000 Gross Margin equal to or less than 9.500 2 89,078.48 0.70
- -------------------------------------------------------------------------------------------
Total.................................... 132 $ 12,647,394.14 100.00%
===========================================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A Certificates
LOAN SUMMARY STRATIFIED BY
LIFE CAP
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Cap Loans Balance Balance
<S> <C> <C> <C>
13.500 LIFE CAP equal to or less than 14.000 1 164,753.84 1.30
14.000 LIFE CAP equal to or less than 14.500 1 99,856.96 0.79
14.500 LIFE CAP equal to or less than 15.000 1 79,900.50 0.63
15.000 LIFE CAP equal to or less than 15.500 6 949,066.47 7.50
15.500 LIFE CAP equal to or less than 16.000 11 1,555,245.88 12.30
16.000 LIFE CAP equal to or less than 16.500 18 2,662,552.41 21.05
16.500 LIFE CAP equal to or less than 17.000 17 2,192,795.54 17.34
17.000 LIFE CAP equal to or less than 17.500 15 1,378,684.15 10.90
17.500 LIFE CAP equal to or less than 18.000 9 963,645.01 7.62
18.000 LIFE CAP equal to or less than 18.500 5 211,364.52 1.67
18.500 LIFE CAP equal to or less than 19.000 9 487,925.85 3.86
19.000 LIFE CAP equal to or less than 19.500 15 648,518.32 5.13
19.500 LIFE CAP equal to or less than 20.000 11 674,410.05 5.33
20.000 LIFE CAP equal to or less than 20.500 3 125,540.57 0.99
20.500 LIFE CAP equal to or less than 21.000 1 66,586.69 0.53
21.000 LIFE CAP equal to or less than 21.500 5 250,750.68 1.98
21.500 LIFE CAP equal to or less than 22.000 3 115,451.66 0.91
22.500 LIFE CAP equal to or less than 23.000 1 20,345.04 0.16
- ---------------------------------------------------------------------------------------------
Total..................................... 132 $ 12,647,394.14 100.00%
=============================================================================================
</TABLE>
NEXT INTEREST ROLLDATE DATE
Percentage
of Cut-Off
Aggregate Date
Next Number of Unpaid Aggregate
Roll Mortgage Principal Principal
Date Loans Balance Balance
04/01/01 1 $89,078.48 00.70
06/01/01 1 $107,620.30 00.85
07/01/01 4 $753,418.98 05.96
08/01/01 16 $1,615,176.96 12.77
09/01/01 27 $2,102,965.84 16.63
10/01/01 41 $5,369,150.08 42.45
11/01/01 36 $2,307,398.07 18.24
08/01/03 4 $199,014.29 01.57
09/01/03 2 $103,571.14 00.82
- --------------------------------------------------------------------------
Total........ 132 $12,647,394.14 100.00%
==========================================================================
PAG CODE
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
PAG Mortgage Principal Principal
CODE Loans Balance Balance
* 46 2,114,064.49 1.81
01 119 11,436,989.47 9.77
02 656 50,638,465.00 43.25
03 298 20,475,072.52 17.49
04 213 10,270,554.47 8.77
05 442 22,147,556.19 18.92
- -----------------------------------------------------------------
Total.......... 1774 $117,082,702.14 100.00%
=================================================================
*missing
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A Certificates
SERVICER
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Servicer Loans Balance Balance
ADVANTA 1349 92,088,017.76 78.65
OPTION ONE 425 24,994,684.38 21.35
- -----------------------------------------------------------------
Total.......... 1774 $117,082,702.14 100.00%
=================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL
INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A Certificates
- --------------------------------------------------------------------------------
- AMRESCO65
- 12/1/96 Scheduled Balances
- GROUP II
- $441,134,976.68
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 4,523
Index: LIBOR-6M
Aggregate Unpaid Principal Balance: $441,134,976.68
Aggregate Original Principal Balance: $441,865,465.87
Weighted Average Coupon (Gross): 10.135%
Gross Coupon Range: 4.990% - 17.800%
Weighted Average Margin (Gross): 6.136%
Gross Margin Range: 3.950% - 11.630%
Weighted Average Life Cap (Gross): 16.547%
Gross Life Cap Range: 11.990% - 24.800%
Weighted Average Life Floor (Gross): 10.102%
Gross Life Floor Range: 4.990% - 17.800%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $97,531.50
Average Original Principal Balance: $97,693.01
Maximum Unpaid Principal Balance: $734,285.15
Minimum Unpaid Principal Balance: $11,878.95
Maximum Original Principal Balance: $735,750.00
Minimum Original Principal Balance: $12,000.00
Weighted Avg. Stated Rem. Term (LPD to Mat Date): 354.275
Stated Rem Term Range: 174.000 - 359.000
Weighted Average Age (First Pay thru Last Pay): 3.234
Age Range: 1.000 - 24.000
Weighted Average Original Term: 357.510
Original Term Range: 180.000 - 360.000
Weighted Average Original LTV: 70.693 *
Original LTV Range: 7.975% - 90.000%
Weighted Average Periodic Interest Cap: 1.062%
Periodic Interest Cap Range: 1.000% - 3.000%
Weighted Average Months to Interest Roll: 14.329
Months to Interest Roll Range: 1 - 34
Weighted Average Months to Payment Roll: 15.328
Months to Payment Roll Range: 2 - 35
Weighted Average Interest Roll Frequency: 6.000
Interest Frequency Range: 6 - 6
- --------------------------------------------------------------------------------
*excludes loans with missing ltv
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A Certificates
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
AL 2 164,374.68 0.04
AR 14 1,167,414.32 0.26
AZ 106 10,395,867.20 2.36
CA 810 107,291,155.15 24.32
CO 161 15,249,959.46 3.46
CT 84 9,121,270.19 2.07
DC 15 1,194,305.42 0.27
DE 7 902,669.21 0.20
FL 249 20,454,287.24 4.64
GA 111 10,935,393.76 2.48
HI 113 22,981,152.51 5.21
IA 6 557,119.12 0.13
ID 53 4,508,256.50 1.02
IL 495 45,571,212.14 10.33
IN 64 3,403,263.04 0.77
KS 15 759,107.74 0.17
KY 29 1,568,075.08 0.36
LA 9 543,761.25 0.12
MA 163 18,520,760.19 4.20
MD 94 9,035,546.28 2.05
ME 11 654,854.66 0.15
MI 114 8,117,304.58 1.84
MN 66 4,580,150.65 1.04
MO 102 4,464,954.11 1.01
MS 3 333,076.65 0.08
MT 5 411,256.91 0.09
NC 118 7,112,328.18 1.61
NE 5 285,517.47 0.06
NH 44 3,511,246.43 0.80
NJ 55 6,916,383.51 1.57
NM 38 3,129,562.05 0.71
NV 67 7,363,428.03 1.67
NY 22 3,748,432.21 0.85
OH 149 9,164,456.18 2.08
OK 20 1,447,422.60 0.33
OR 179 15,988,696.98 3.62
PA 90 6,127,020.59 1.39
RI 55 4,231,677.95 0.96
SC 35 2,307,747.89 0.52
TN 12 688,008.43 0.16
TX 148 12,526,172.71 2.84
UT 138 13,795,239.10 3.13
VA 114 11,377,259.45 2.58
VT 3 394,587.14 0.09
WA 175 18,938,100.02 4.29
WI 146 8,654,899.15 1.96
WV 6 320,274.41 0.07
WY 3 219,968.16 0.05
- --------------------------------------------------------------------------
Total............... 4523 $441,134,976.68 100.00%
==========================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A Certificates
ORIGINAL LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
<S> <C> <C> <C>
LTV equal to 0.000 5 149,376.65 0.03
5.000 less than LTV equal to or less than 10.000 2 206,984.39 0.05
10.000 less than LTV equal to or less than 15.000 1 32,952.17 0.01
15.000 less than LTV equal to or less than 20.000 7 268,140.36 0.06
20.000 less than LTV equal to or less than 25.000 11 518,463.55 0.12
25.000 less than LTV equal to or less than 30.000 25 1,431,078.79 0.32
30.000 less than LTV equal to or less than 35.000 30 2,028,689.75 0.46
35.000 less than LTV equal to or less than 40.000 63 3,972,485.49 0.90
40.000 less than LTV equal to or less than 45.000 73 5,320,250.50 1.21
45.000 less than LTV equal to or less than 50.000 145 9,235,713.56 2.09
50.000 less than LTV equal to or less than 55.000 220 16,808,696.86 3.81
55.000 less than LTV equal to or less than 60.000 353 26,513,944.82 6.01
60.000 less than LTV equal to or less than 65.000 692 58,618,542.26 13.29
65.000 less than LTV equal to or less than 70.000 902 83,691,012.87 18.97
70.000 less than LTV equal to or less than 75.000 989 109,191,320.35 24.75
75.000 less than LTV equal to or less than 80.000 746 89,164,631.62 20.21
80.000 less than LTV equal to or less than 85.000 142 18,735,440.29 4.25
85.000 less than LTV equal to or less than 90.000 117 15,247,252.40 3.46
- -------------------------------------------------------------------------------------------------
Total............................................... 4523 $441,134,976.68 100.00%
=================================================================================================
</TABLE>
GROSS MORTGAGE INTEREST RATE RANGE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
<S> <C> <C> <C>
0.00% less than Gross Coupon equal to or less than 5.00% 1 64,642.58 0.01
5.00% less than Gross Coupon equal to or less than 5.50% 2 138,545.47 0.03
5.50% less than Gross Coupon equal to or less than 6.00% 6 914,874.14 0.21
6.00% less than Gross Coupon equal to or less than 6.50% 14 1,575,148.77 0.36
6.50% less than Gross Coupon equal to or less than 7.00% 35 4,480,479.32 1.02
7.00% less than Gross Coupon equal to or less than 7.50% 48 6,170,996.06 1.40
7.50% less than Gross Coupon equal to or less than 8.00% 122 15,608,432.86 3.54
8.00% less than Gross Coupon equal to or less than 8.50% 232 28,585,759.75 6.48
8.50% less than Gross Coupon equal to or less than 9.00% 412 47,748,699.36 10.82
9.00% less than Gross Coupon equal to or less than 9.50% 443 52,461,318.66 11.89
9.50% less than Gross Coupon equal to or less than 10.00% 611 69,652,279.43 15.79
10.00% less than Gross Coupon equal to or less than 10.50% 526 52,573,631.95 11.92
10.50% less than Gross Coupon equal to or less than 11.00% 616 57,400,602.59 13.01
11.00% less than Gross Coupon equal to or less than 11.50% 433 34,907,728.37 7.91
11.50% less than Gross Coupon equal to or less than 12.00% 340 25,745,137.81 5.84
12.00% less than Gross Coupon equal to or less than 12.50% 214 14,306,683.30 3.24
12.50% less than Gross Coupon equal to or less than 13.00% 173 11,388,681.28 2.58
13.00% less than Gross Coupon equal to or less than 13.50% 112 6,479,023.45 1.47
13.50% less than Gross Coupon equal to or less than 14.00% 96 6,134,137.92 1.39
14.00% less than Gross Coupon equal to or less than 14.50% 51 3,059,374.49 0.69
14.50% less than Gross Coupon equal to or less than 15.00% 21 1,120,033.91 0.25
15.00% less than Gross Coupon equal to or less than 15.50% 5 249,517.42 0.06
15.50% less than Gross Coupon equal to or less than 16.00% 6 246,995.00 0.06
16.00% less than Gross Coupon equal to or less than 16.50% 3 104,759.47 0.02
17.50% less than Gross Coupon equal to or less than 18.00% 1 17,493.32 0.00
- ------------------------------------------------------------------------------------------------------
Total..................................... 4523 $441,134,976.68 100.00%
======================================================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A Certificates
CURRENT MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C>
Balance equal to or less than 50,000 1105 39,236,463.81 8.89
50,000 less than Balance equal to or less than 100,000 1863 138,118,206.02 31.31
100,000 less than Balance equal to or less than 150,000 864 104,824,217.70 23.76
150,000 less than Balance equal to or less than 200,000 342 59,242,461.00 13.43
200,000 less than Balance equal to or less than 250,000 161 36,004,853.91 8.16
250,000 less than Balance equal to or less than 300,000 83 22,722,553.56 5.15
300,000 less than Balance equal to or less than 350,000 50 16,229,344.46 3.68
350,000 less than Balance equal to or less than 400,000 25 9,374,819.48 2.13
400,000 less than Balance equal to or less than 450,000 7 3,008,395.58 0.68
450,000 less than Balance equal to or less than 500,000 14 6,690,688.40 1.52
500,000 less than Balance equal to or less than 550,000 1 549,498.19 0.12
550,000 less than Balance equal to or less than 600,000 1 569,559.47 0.13
600,000 less than Balance equal to or less than 650,000 5 3,171,417.18 0.72
650,000 less than Balance equal to or less than 700,000 1 658,212.77 0.15
700,000 less than Balance equal to or less than 750,000 1 734,285.15 0.17
- -----------------------------------------------------------------------------------------------------
Total............................................... 4523 $441,134,976.68 100.00%
=====================================================================================================
</TABLE>
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Single-family 3761 364,882,267.68 82.71
PUD 192 27,445,148.17 6.22
Townhouses 6 648,245.42 0.15
Manufactured Housing 19 1,366,762.96 0.31
Condominiums 217 18,701,447.52 4.24
2-4 Family 319 27,186,100.62 6.17
Other 9 905,004.31 0.21
- --------------------------------------------------------------------------
Total............... 4523 $441,134,976.68 100.00%
==========================================================================
YEARS OF ORIGINATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Year of Mortgage Principal Principal
Origination Loans Balance Balance
1994 3 521,668.43 0.12
1995 26 3,587,386.36 0.81
1996 4494 437,025,921.89 99.07
- --------------------------------------------------------------------------
Total................. 4523 $441,134,976.68 100.00%
==========================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A Certificates
REMAINING MONTHS TO STATED MATURITY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
<S> <C> <C> <C>
168 less than Rem Term equal to or less than 180 114 6,103,351.53 1.38%
324 less than Rem Term equal to or less than 336 1 205,918.20 0.05%
336 less than Rem Term equal to or less than 348 23 3,115,279.15 0.71%
348 less than Rem Term equal to or less than 360 4,385 431,710,427.80 97.86%
- -------------------------------------------------------------------------------------------------
Total......................................... 4,523 441,134,976.68 100.00%
=================================================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Owner Occ. 3935 401,776,357.46 91.08
Non Owner Occ. 586 39,235,275.01 8.89
Unknown 2 123,344.21 0.03
- --------------------------------------------------------------------------
Total.................. 4523 $441,134,976.68 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
GROSS MARGIN
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Floor Loans Balance Balance
<S> <C> <C> <C>
3.500 Gross Margin equal to or less than 4.00 2 208,818.07 0.05
4.000 Gross Margin equal to or less than 4.50 122 13,899,395.90 3.15
4.500 Gross Margin equal to or less than 5.00 386 40,470,231.14 9.17
5.000 Gross Margin equal to or less than 5.50 714 75,229,156.92 17.05
5.500 Gross Margin equal to or less than 6.00 837 90,411,372.63 20.50
6.000 Gross Margin equal to or less than 6.50 835 84,333,341.62 19.12
6.500 Gross Margin equal to or less than 7.00 732 69,127,925.05 15.67
7.000 Gross Margin equal to or less than 7.50 481 38,724,649.42 8.78
7.500 Gross Margin equal to or less than 8.00 238 16,865,537.53 3.82
8.000 Gross Margin equal to or less than 8.50 102 6,915,828.89 1.57
8.500 Gross Margin equal to or less than 9.00 47 3,556,934.22 0.81
9.000 Gross Margin equal to or less than 9.50 15 668,080.13 0.15
9.500 Gross Margin equal to or less than 10.00 7 559,712.65 0.13
10.000 Gross Margin equal to or less than 10.50 3 102,538.56 0.02
10.500 Gross Margin equal to or less than 11.00 1 17,493.32 0.00
11.500 Gross Margin equal to or less than 12.50 1 43,960.63 0.01
- -------------------------------------------------------------------------------------------
Total...................................... 4523 $441,134,976.68 100.00%
===========================================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A Certificates
LOAN SUMMARY STRATIFIED BY
LIFE CAP
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Cap Loans Balance Balance
<S> <C> <C> <C>
11.500 LIFE CAP equal to or less than 12.000 2 536,197.67 0.12
12.000 LIFE CAP equal to or less than 12.500 3 220,386.42 0.05
12.500 LIFE CAP equal to or less than 13.000 14 1,786,341.17 0.40
13.000 LIFE CAP equal to or less than 13.500 34 4,379,051.08 0.99
13.500 LIFE CAP equal to or less than 14.000 75 8,853,717.34 2.01
14.000 LIFE CAP equal to or less than 14.500 106 14,290,963.74 3.24
14.500 LIFE CAP equal to or less than 15.000 279 34,959,135.17 7.92
15.000 LIFE CAP equal to or less than 15.500 376 44,092,787.03 10.00
15.500 LIFE CAP equal to or less than 16.000 584 70,554,359.97 15.99
16.000 LIFE CAP equal to or less than 16.500 553 59,829,751.00 13.56
16.500 LIFE CAP equal to or less than 17.000 646 61,922,447.72 14.04
17.000 LIFE CAP equal to or less than 17.500 483 43,040,576.23 9.76
17.500 LIFE CAP equal to or less than 18.000 388 32,027,927.43 7.26
18.000 LIFE CAP equal to or less than 18.500 305 22,267,263.59 5.05
18.500 LIFE CAP equal to or less than 19.000 209 14,678,438.09 3.33
19.000 LIFE CAP equal to or less than 19.500 143 8,688,724.75 1.97
19.500 LIFE CAP equal to or less than 20.000 116 6,955,650.84 1.58
20.000 LIFE CAP equal to or less than 20.500 101 6,229,007.46 1.41
20.500 LIFE CAP equal to or less than 21.000 57 3,353,790.46 0.76
21.000 LIFE CAP equal to or less than 21.500 24 1,337,245.98 0.30
21.500 LIFE CAP equal to or less than 22.000 14 750,118.61 0.17
22.000 LIFE CAP equal to or less than 22.500 4 123,419.59 0.03
22.500 LIFE CAP equal to or less than 23.000 3 135,422.55 0.03
23.000 LIFE CAP equal to or less than 23.500 3 104,759.47 0.02
24.500 LIFE CAP equal to or less than 25.000 1 17,493.32 0.00
- -------------------------------------------------------------------------------------------
Total..................................... 4523 $441,134,976.68 100.00%
===========================================================================================
</TABLE>
NEXT INTEREST ROLLDATE DATE
Percentage of
Aggregate Cut-off Date
Next Number of Unpaid Aggregate
Roll Mortgage Principal Principal
Date Loans Balance Balance
01/01/97 115 $11,920,472.77 02.70
02/01/97 580 $60,877,318.16 13.80
03/01/97 740 $76,734,280.69 17.39
04/01/97 463 $48,184,816.32 10.92
05/01/97 140 $13,748,376.58 03.12
06/01/97 13 $1,228,856.62 00.28
01/01/98 2 $134,804.19 00.03
02/01/98 3 $274,107.67 00.06
03/01/98 6 $886,859.39 00.20
04/01/98 8 $1,005,495.45 00.23
05/01/98 22 $2,011,125.10 00.46
06/01/98 19 $1,244,478.44 00.28
07/01/98 48 $4,031,835.26 00.91
08/01/98 278 $29,638,683.78 06.72
09/01/98 497 $44,544,345.79 10.10
10/01/98 494 $49,583,875.16 11.24
11/01/98 199 $18,084,431.58 04.10
04/01/99 1 $197,800.17 00.04
05/01/99 2 $182,798.07 00.04
06/01/99 10 $740,062.73 00.17
07/01/99 164 $13,897,247.39 03.15
08/01/99 297 $26,430,378.17 05.99
09/01/99 390 $33,482,107.18 07.59
10/01/99 32 $2,070,420.02 00.47
- --------------------------------------------------------------------------
Total........ 4523 $441,134,976.68 100.00%
==========================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
<PAGE>
AMRESCO Residential Securities Corporation
Mortgage Loan Trust
Series 1996-5 Class A Certificates
PAG CODE 26-Nov-1996
Page 1
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
PAG Mortgage Principal Principal
CODE Loans Balance Balance
* 140 10,278,370.19 2.33
01 275 30,780,891.12 6.98
02 1719 194,596,337.33 44.11
03 935 93,102,953.01 21.11
04 454 35,103,261.06 7.96
05 1000 77,273,163.97 17.52
____________________________________________________________________________
Total...... 4523 $441,134,976.68 100.00%
============================================================================
*missing
SERVICER
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Servicer Loans Balance Balance
ADVANTA 2899 282,348,027.99 64.00
OPTION ONE 1624 158,786,948.69 36.00
____________________________________________________________________________
Total...... 4523 $441,134,976.68 100.00%
============================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
AMRESCO 1996-5 CS First Boston Computational Materials
- ---------------------------------------------
$ 42,200,000 Class A-1 Fixed Rate Certificates - TBA %
$ 29,000,000 Class A-2 Fixed Rate Certificates - TBA %
$ 16,500,000 Class A-3 Fixed Rate Certificates - TBA %
$ 17,000,000 Class A-4 Fixed Rate Certificates - TBA %
$ 15,000,000 Class A-5 Fixed Rate Certificates - TBA %
$ 15,900,000 Class A-6 Fixed Rate Certificates - TBA %
$ 14,400,000 Class A-7 Fixed Rate Certificates - TBA %
$550,000,000 Class A-8 Floating Rate Certificates - 1M LIBOR+ TBA %
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
<TABLE>
GROUP I
CLASSES A-1 THROUGH A-7 FIXED RATE CERTIFICATES
Collateral: Group One: Fixed Rate, First Lien Mortgage Loans.
Approximate Group Size: 150,000,000
<CAPTION>
Class A-1 Class A-2 Class A-3 Class A-4 Class A-5
--------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
Approximate Face Amount: $42,200,000 $29,000,000 $16,500,000 $17,000,000 $15,000,000
Avg Life to 10% Call Date: .80 years 2.00 years 3.00 years 4.01 years 5.31 years
Avg. Life to Maturity (app.) .80 years 2.00 years 3.00 years 4.01 years 5.31 years
Pass-Through Rate: TBA %* TBA %* TBA %* TBA %* TBA %*
Price TBA TBA TBA TBA TBA
Spread: TBA TBA TBA TBA TBA
Pricing Speed 23% HEP 23% HEP 23% HEP 23% HEP 23% HEP
Yield (CBE): TBA TBA TBA TBA TBA %
Day Count: 30/360 30/360 30/360 30/360 30/360
Expected Maturity To Call: 5/25/98 7/25/99 5/25/00 7/25/01 1/25/03
(at pricing speed)
Expected Maturity: 5/25/98 7/25/99 5/25/00 7/25/01 1/25/03
(at pricing speed)
Stated Maturity: 8/25/11 4/25/18 10/25/20 9/25/22 3/25/24
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
<TABLE>
<CAPTION>
Class A-6 Class A-7
--------- ---------
<S> <C> <C>
Approximate Face Amount: $15,900,000 $14,400,000
Avg Life to 10% Call Date: 7.20 years 8.02 years
Avg. Life to Maturity (app.) 7.27 years 11.63 years
Pass-Through Rate: TBA % * TBA % * or Coupon + 50 bps% after Clean-up Call Date**
Price: TBA TBA
Spread: TBA TBA
Pricing Speed 23% HEP 23% HEP
Yield (CBE): TBA % TBA %
Day Count: 30/360 30/360
Expected Maturity To Call: 12/25/04 12/25/04
(at pricing speed)
Expected Maturity: 8/25/05 9/25/15
(at pricing speed)
Stated Maturity: 6/25/25 11/25/26
</TABLE>
* Coupon is subject to Available Funds
**Coupon Step-up is subject to the Available Funds Cap
Available Funds Cap: A rate equal to the weighted average net coupon rate
(i.e., the weighted average coupon rate less 0.65%
for servicing fees, trustee fees and certificate
insurer premiums) for the Group I fixed-rate mortgage
loans for such Payment Date.
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
GROUP II
CLASS A-8 ADJUSTABLE RATE CERTIFCATES
Prepayment Assumption: 25% HEP
Approximate Face Amount: $550,000,000
Average Life to Call: 3.19 years
Interest Payment: actual/360
Price: 100-00
Pass-Through Rate: The lesser of:
1) One Month LIBOR + TBAbps
2) The Available Funds Cap
After the Clean-up Call, the lesser of:
1) One Month LIBOR + 2x TBA
2) The Available Funds Cap
Available Funds Cap: A rate equal to the weighted
average net coupon rate (i.e., the weighted
average coupon rate less the sum of (a) .65%
for servicing fees, trustee fees,
certificate insurer premiums and (b)
beginning on the seventh Payment Date .50%
for surety reserve strip) for the Group II
adjustable-rate mortgage loans for such
Payment Date.
Yield: Variable
Expected Maturity
to Call: 12/25/04 at pricing speed
Expected Maturity: 10/25/14 at pricing speed
Stated Maturity: 11/25/26
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
Pre-Funding Account: On the closing date, approximately
$108,865,023 will be deposited in a
pre-funding account for the purchase of
additional adjustable rate mortgage loans.
From the closing date until March 1, 1997,
the Trust intends to purchase mortgage loans
up to the entire pre-funding amounts. The
additional mortgage loans, purchaed with
funds deposited in the prefunding account,
will be subject to certain individual and
aggregate group characteristics that will be
more fully described in the Prospectus
Supplement.
Funds remaining in the pre-funding account
will be distributed to the Class A-8
Certificateholders as prepayments on the
March, 1997 distribution date.
Coupon Step-Up: If the Cleanup Call is not exercised, the
coupon on the Class A-8 Certificates shall
be raised to LIBOR + 2x Spread subject to
the Available Funds Cap.
Payment Date: The 25th day of each month or, if such day
is not a business day, the next succeeding
business day, beginning on January 27, 1997.
Interest Accrual Period: Interest will accrue from the 25th day of
the preceeding month until the 24th day of
the current month (from Payment Date to
Payment Date).
Interest and Payment
Adjusments: The interest rates and payments on the
underlying mortgage loans will generally
adjust semi-annually.
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
<TABLE>
<CAPTION>
PREPAYMENT SPEED
PRICING SPEED
<S> <C> <C> <C> <C> <C> <C> <C>
GP I 23.0% 15.00% 18.00% 20.00% 26.00% 28.00% 30.00%
GP II 25.0% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
CLASS A1
First Payment 0.103 0.103 0.103 0.103 0.103 0.103 0.103
Average Life 0.800 1.098 0.957 0.886 0.734 0.697 0.665
Last Payment 1.436 2.103 1.769 1.686 1.353 1.269 1.186
Mod.Dur. @ 100-00 0.757 1.024 0.899 0.834 0.696 0.662 0.632
Accrued Interest 0.306 0.306 0.306 0.306 0.306 0.306 0.306
CLASS A2
First Payment 1.436 2.103 1.769 1.686 1.353 1.269 1.186
Average Life 2.001 2.962 2.507 2.275 1.788 1.671 1.569
Last Payment 2.603 3.853 3.269 2.936 2.269 2.186 2.019
Mod.Dur. @ 100-01 1.829 2.625 2.255 2.062 1.646 1.544 1.455
Accrued Interest 0.297 0.297 0.297 0.297 0.297 0.297 0.297
CLASS A3
First Payment 2.603 3.853 3.269 2.936 2.269 2.186 2.019
Average Life 3.003 4.531 3.808 3.441 2.662 2.475 2.307
Last Payment 3.436 5.269 4.353 3.936 3.019 2.853 2.603
Mod.Dur. @ 100-01 2.657 3.824 3.286 3.003 2.381 2.227 2.087
Accrued Interest 0.303 0.303 0.303 0.303 0.303 0.303 0.303
CLASS A4
First Payment 3.436 5.269 4.353 3.936 3.019 2.853 2.603
Average Life 4.006 6.090 5.109 4.606 3.539 3.280 3.055
Last Payment 4.603 7.019 5.936 5.353 4.103 3.769 3.519
Mod.Dur. @ 100-00 3.424 4.878 4.218 3.863 3.070 2.869 2.691
Accrued Interest 0.310 0.310 0.310 0.310 0.310 0.310 0.310
CLASS A5
First Payment 4.603 7.019 5.936 5.353 4.103 3.769 3.519
Average Life 5.311 8.085 6.789 6.117 4.679 4.329 4.024
Last Payment 6.103 9.103 7.769 7.019 5.353 4.936 4.603
Mod.Dur. @ 100-00 4.342 6.066 5.300 4.876 3.903 3.652 3.428
Accrued Interest 0.316 0.316 0.316 0.316 0.316 0.316 0.316
CLASS A6*
First Payment 6.103 9.103 7.769 7.019 5.353 4.936 4.603
Average Life 7.196 9.103 8.476 7.990 6.396 5.911 5.487
Last Payment 8.019 9.103 8.603 8.353 7.686 7.103 6.603
Mod.Dur. @ 100-01 5.490 6.550 6.219 5.949 5.004 4.698 4.422
Accrued Interest 0.329 0.329 0.329 0.329 0.329 0.329 0.329
*To Call
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
<TABLE>
<CAPTION>
PREPAYMENT SPEED
PRICING SPEED
<S> <C> <C> <C> <C> <C> <C> <C>
GP I 23.0% 15.00% 18.00% 20.00% 26.00% 28.00% 30.00%
GP II 25.0% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
CLASS A7*
First Payment 8.019 9.103 8.603 8.353 7.686 7.103 6.603
Average Life 8.019 9.103 8.603 8.353 7.848 7.627 7.423
Last Payment 8.019 9.103 8.603 8.353 7.853 7.686 7.603
Mod.Dur. @ 100-00 5.927 6.499 6.241 6.108 5.833 5.709 5.592
Accrued Interest 0.338 0.338 0.338 0.338 0.338 0.338 0.338
*To Call
PREPAYMENT SPEED
PRICING SPEED
GP I 23.0% 23.00% 23.00% 23.00% 23.00% 23.00% 23.00%
GP II 25.0% 15.00% 18.00% 22.00% 28.00% 32.00% 34.00%
CLASS A8*
First Payment 0.103 0.103 0.103 0.103 0.103 0.103 0.103
Average Life 3.185 5.150 4.346 3.601 2.859 2.510 2.362
Last Payment 8.019 12.26 10.519 8.936 7.353 6.603 6.269
Mod.Dur. @ 100-00 2.689 4.008 3.495 2.987 2.448 2.182 2.067
Accrued Interest 0.000 0.000 0.000 0.000 0.000 0.000 0.000
*To Call
</TABLE>
<TABLE>
<CAPTION>
Available Pool
Information FIXED FLOATING
----- --------
<S> <C>
Loans: 1,774 Loans:4,523
Balance:117,082,702.14 Balance:441,134,976.68
WAC:11.284% WAC:10.135%
WAM:318 WAM:354
WA LTV: 65.77% WA LTV: 70.69%
% 1st Liens: 100% Gross Margin:6.136%
% of 5/25 Loans: 10.54 % 1st Liens: 100%
% of 7/23 Loans: 0.26 % of 2/28 Loans: 34.41
% of Balloon Loans: 8.41 % of 3/27 Loans: 17.63
Credit Grade % of Balloons: 0
PAG I: 9.77% Credit Grade:
PAG II: 43.25% PAG I: 6.98%
PAG III:17.49% PAG II: 44.11%
PAG IV: 8.77% PAG III:21.11%
PAG V: 18.92% PAG IV: 7.96%
UNKNOWN: 1.81% PAG V: 17.52%
UNKNOWN: 2.33%
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
A-8 AVAILABLE FUNDS SCHEDULE
<TABLE>
<CAPTION>
PAYMENT
DATE COUPON
- -------- ------
<S> <C> <C>
01/25/97 9.51
02/25/97 9.53
03/25/97 9.66 Available Funds information on Certificate A-8 Floating Rate Tranche:
04/25/97 9.81
05/25/97 9.91 The Class A-8 Certificates are subject to an available funds cap:
06/25/97 9.93
07/25/97 9.48 Available Funds Rate on A-8 =
08/25/97 9.52 (Group 2 Collateral Interest% - Servicing Fee% - Ongoing Trust Fees% - MBIA cushion%)
09/25/97 9.60
10/25/97 9.72
11/25/97 9.82 Servicing Fee is 50 bps
12/25/97 9.84 Ongoing Trust Fees are 15 bps
01/25/98 9.89 MBIA Cushion is 50bps (starting month 7)
02/25/98 9.93
03/25/98 9.93
04/25/98 9.93 Schedule to left run assuming constant 6MO LIBOR 5.543%
05/25/98 9.97 (Weighted average Gross Life Cap on Group 2 - 16.547%,
06/25/98 9.99 Weighted Net Life Cap on Group 2 (less fees/cushion) - 15.397%)
07/25/98 10.01
08/25/98 10.03
09/25/98 10.11
10/25/98 10.22
11/25/98 10.36
12/25/98 10.48
01/25/99 10.54
02/25/99 10.54
03/25/99 10.54
04/25/99 10.54
05/25/99 10.54
06/25/99 10.56
07/25/99 10.56
08/25/99 10.56
09/25/99 10.56
10/25/99 10.57
11/25/99 10.57
12/25/99 10.57 and thereafter
</TABLE>
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
- AMRESCO65
- 12/1/96 Scheduled Balances
- GROUP I
- $117,082,702.14
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 1,774
Aggregate Unpaid Principal Balance: $117,082,702.14
Aggregate Original Principal Balance: $117,304,076.78
- --------------------------------------------------------------------------------
Weighted Average Coupon (Gross): 11.284%
Gross Coupon Range: 7.000% - 17.800%
Average Unpaid Principal Balance: $65,999.27
Average Original Principal Balance: $66,124.06
Maximum Unpaid Principal Balance: $599,579.63
Minimum Unpaid Principal Balance: $9,928.15
Maximum Original Principal Balance: $601,250.00
Minimum Original Principal Balance: $10,000.00
Weighted Avg. Stated Rem. Term (LPD to Mat Date): 318.446
Stated Rem Term Range: 58.000 - 359.000
Weighted Average Age (First Pay thru Last Pay): 2.828
Age Range: 1.000 - 13.000
Weighted Average Original Term: 321.274
Original Term Range: 60.000 - 360.000
Weighted Average Original LTV: 65.771 *
Original LTV Range: 1.467% - 90.000%
- --------------------------------------------------------------------------------
*excludes loans with missing ltv
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
State # Loans Balance % Total
AL 1 47,941.71 0.04%
AR 15 531,614.76 0.45%
AZ 27 1,716,390.78 1.47%
CA 356 32,488,905.23 27.75
CO 69 4,847,123.03 4.14
CT 4 201,855.00 0.17
DC 14 1,248,559.02 1.07
DE 5 503,061.62 0.43
FL 172 9,152,393.57 7.82
GA 35 1,870,202.76 1.60
HI 54 9,971,480.59 8.52
IA 1 40,946.28 0.03
ID 13 676,342.35 0.58
IL 166 9,174,127.41 7.84
IN 77 2,980,360.09 2.55
KS 4 121,244.09 0.10
KY 17 682,304.21 0.58
LA 32 1,048,454.80 0.90
MA 36 2,977,130.41 2.54
MD 34 2,795,295.02 2.39
ME 2 125,843.51 0.11
MI 40 1,800,597.66 1.54
MN 15 1,062,933.21 0.91
MO 29 996,282.95 0.85
MS 9 310,827.06 0.27
NC 33 1,251,771.85 1.07
NE 9 353,173.40 0.30
NH 1 76,920.85 0.07
NJ 12 1,536,309.32 1.31
NM 6 344,490.91 0.29
NV 14 1,138,809.28 0.97
NY 11 969,809.94 0.83
OH 86 3,948,236.94 3.37
OK 7 301,933.19 0.26
OR 54 3,749,093.63 3.20
PA 31 1,080,393.05 0.92
RI 9 630,958.51 0.54
SC 26 827,692.79 0.71
TN 32 1,005,803.39 0.86
TX 75 3,411,252.47 2.91
UT 33 2,603,761.97 2.22
VA 38 2,426,599.01 2.07
WA 44 2,883,482.31 2.46
WI 17 738,665.61 0.63
WV 6 198,889.74 0.17
WY 3 232,436.86 0.20
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
ORIGINAL LOAN-TO-VALUE RATIOS
Original Unpaid
Loan-To-Value Principal
Ratio # Loans Balance % Total
- 0.000 1 19,840.26 0.02%
0.000 - 5.000 1 43,693.19 0.04%
10.000 - 15.000 3 73,727.39 0.06%
15.000 - 20.000 7 243,084.23 0.21%
20.000 - 25.000 24 838,056.41 0.72%
25.000 - 30.000 31 1,163,735.51 0.99%
30.000 - 35.000 43 2,031,166.70 1.73%
35.000 - 40.000 46 2,509,331.52 2.14%
40.000 - 45.000 59 2,599,709.12 2.22%
45.000 - 50.000 113 5,601,773.89 4.78%
50.000 - 55.000 112 5,687,404.82 4.86%
55.000 - 60.000 211 11,521,142.88 9.84%
60.000 - 65.000 287 19,265,509.13 16.45%
65.000 - 70.000 299 19,958,849.36 17.05%
70.000 - 75.000 335 28,190,588.91 24.08%
75.000 - 80.000 151 12,743,084.34 10.88%
80.000 - 85.000 37 3,412,493.17 2.91%
85.000 - 90.000 14 1,179,511.31 1.01%
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
GROSS MORTGAGE INTEREST RATE RANGE
Aggregate
Gross Mortgage Unpaid
Interest Rate Principal
Range # Loans Balance % Total
6.50% - 7.00% 1 21,322.26 0.02
7.00% - 7.50% 1 164,753.84 0.14
7.50% - 8.00% 4 367,176.62 0.31
8.00% - 8.50% 7 469,362.75 0.40
8.50% - 9.00% 52 5,661,168.94 4.84
9.00% - 9.50% 86 10,120,244.68 8.64
9.50% - 10.00% 172 16,758,438.02 14.31
10.00% - 10.50% 137 10,865,172.99 9.28
10.50% - 11.00% 197 15,119,565.90 12.91
11.00% - 11.50% 164 10,381,359.69 8.87
11.50% - 12.00% 201 11,931,872.63 10.19
12.00% - 12.50% 152 8,481,978.11 7.24
12.50% - 13.00% 197 9,188,664.73 7.85
13.00% - 13.50% 139 6,031,442.50 5.15
13.50% - 14.00% 95 4,411,155.07 3.77
14.00% - 14.50% 69 2,969,735.84 2.54
14.50% - 15.00% 63 2,530,190.48 2.16
15.00% - 15.50% 27 1,295,209.63 1.11
15.50% - 16.00% 7 232,064.04 0.20
16.50% - 17.00% 1 35,985.58 0.03
17.50% - 18.00% 2 45,837.84 0.04
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
CURRENT MORTGAGE LOAN AMOUNTS
Percentage of
Aggregate Cut-Off Date
Original Unpaid Aggregate
Mortgage Loan Principal Principal
Principal Balance # Loans Balance Balance
Balance less than or equal to 50,000 889 29,093,438.40 24.85%
50,000 - 100,000 600 43,035,688.06 36.76%
100,000 - 150,000 184 21,856,867.58 18.67%
150,000 - 200,000 53 9,229,457.11 7.88%
200,000 - 250,000 20 4,449,242.44 3.80%
250,000 - 300,000 12 3,234,009.86 2.76%
300,000 - 350,000 6 2,008,941.66 1.72%
350,000 - 400,000 6 2,264,992.75 1.93%
400,000 - 450,000 3 1,310,484.65 1.12%
550,000 - 600,000 1 599,579.63 0.51%
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate
Principal Principal
# Loans Balance Balance
Single-family 1501 96,541,563.38 82.46
PUD 44 4,658,779.44 3.98
Townhouses 4 326,968.15 0.28
Manufactured Housing 9 425,637.57 0.36
Condominiums 48 3,199,571.42 2.73
2-4 Family 165 11,771,242.57 10.05
Other 3 158,939.61 0.14
YEARS OF ORIGINATION
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate
Year of Principal Principal
Origination # Loans Balance Balance
1995 2 91,840.23 0.08
1996 1772 116,990,861.91 99.92
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
REMAINING MONTHS TO STATED MATURITY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term # Loans Balance Balance
48 - 60 1 29,237.48 0.02%
168 - 180 478 24,584,747.33 21.00%
228 - 240 20 834,576.73 0.71%
336 - 348 1 28,692.29 0.02%
348 - 360 1,274 91,605,448.31 78.24%
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Owner Occ. 1499 102,360,510.14 87.43
Non Owner Occ. 274 14,693,500.85 12.54
Unknown 1 28,691.15 0.02
LOAN SUMMARY STRATIFIED BY
GROSS MARGIN
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Margin Loans Balance Balance
5.000 - 5.500 9 993,585.84 7.86
5.500 - 6.000 30 4,322,971.36 34.18
6.000 - 6.500 33 3,012,743.24 23.82
6.500 - 7.000 21 1,841,396.22 14.56
7.000 - 7.500 15 1,296,149.96 10.25
7.500 - 8.000 16 867,710.57 6.86
8.000 - 8.500 6 223,758.47 1.77
9.000 - 9.500 2 89,078.48 0.70
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
LOAN SUMMARY STRATIFIED BY
LIFE CAP
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Cap Loans Balance Balance
13.500 - 14.000 1 164,753.84 1.30
14.000 - 14.500 1 99,856.96 0.79
14.500 - 15.000 1 79,900.50 0.63
15.000 - 15.500 6 949,066.47 7.50
15.500 - 16.000 11 1,555,245.88 12.30
16.000 - 16.500 18 2,662,552.41 21.05
16.500 - 17.000 17 2,192,795.54 17.34
17.000 - 17.500 15 1,378,684.15 10.90
17.500 - 18.000 9 963,645.01 7.62
18.000 - 18.500 5 211,364.52 1.67
18.500 - 19.000 9 487,925.85 3.86
19.000 - 19.500 15 648,518.32 5.13
19.500 - 20.000 11 674,410.05 5.33
20.000 - 20.500 3 125,540.57 0.99
20.500 - 21.000 1 66,586.69 0.53
21.000 - 21.500 5 250,750.68 1.98
21.500 - 22.000 3 115,451.66 0.91
22.500 - 23.000 1 20,345.04 0.16
NEXT INTEREST ROLLDATE DATE
Percentage
of Cut-Off
Aggregate Date
Next Number of Unpaid Aggregate
Roll Mortgage Principal Principal
Date Loans Balance Balance
04/01/01 1 $89,078.48 0.70
06/01/01 1 $107,620.30 0.85
07/01/01 4 $753,418.98 5.96
08/01/01 16 $1,615,176.96 12.77
09/01/01 27 $2,102,965.84 16.63
10/01/01 41 $5,369,150.08 42.45
11/01/01 36 $2,307,398.07 18.24
08/01/03 4 $199,014.29 1.57
09/01/03 2 $103,571.14 0.82
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
PAG CODE
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
PAG Mortgage Principal Principal
CODE Loans Balance Balance
* 46 2,114,064.49 1.81
01 119 11,436,989.47 9.77
02 656 50,638,465.00 43.25
03 298 20,475,072.52 17.49
04 213 10,270,554.47 8.77
05 442 22,147,556.19 18.92
*missing
SERVICER
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Servicer Loans Balance Balance
ADVANTA 1349 92,088,017.76 78.65
OPTION ONE 425 24,994,684.38 21.35
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
- AMRESCO65
- 12/1/96 Scheduled Balances
- GROUP II
- $441,134,976.68
Number of Mortgage Loans: 4,523
Index: LIBOR-6M
Aggregate Unpaid Principal Balance: $441,134,976.68
Aggregate Original Principal Balance: $441,865,465.87
Weighted Average Coupon (Gross): 10.135%
Gross Coupon Range: 4.990% - 17.800%
Weighted Average Margin (Gross): 6.136%
Gross Margin Range: 3.950% - 11.630%
Weighted Average Life Cap (Gross): 16.547%
Gross Life Cap Range: 11.990% - 24.800%
Weighted Average Life Floor (Gross): 10.102%
Gross Life Floor Range: 4.990% - 17.800%
Average Unpaid Principal Balance: $97,531.50
Average Original Principal Balance: $97,693.01
Maximum Unpaid Principal Balance: $734,285.15
Minimum Unpaid Principal Balance: $11,878.95
Maximum Original Principal Balance: $735,750.00
Minimum Original Principal Balance: $12,000.00
Weighted Avg. Stated Rem. Term (LPD to Mat Date): 354.275
Stated Rem Term Range: 174.000 - 359.000
Weighted Average Age (First Pay thru Last Pay): 3.234
Age Range: 1.000 - 24.000
Weighted Average Original Term: 357.510
Original Term Range: 180.000 - 360.000
Weighted Average Original LTV: 70.693 *
Original LTV Range: 7.975% - 90.000%
Weighted Average Periodic Interest Cap: 1.062%
Periodic Interest Cap Range: 1.000% - 3.000%
Weighted Average Months to Interest Roll: 14.329
Months to Interest Roll Range: 1 - 34
Weighted Average Months to Payment Roll: 15.328
Months to Payment Roll Range: 2 - 35
Weighted Average Interest Roll Frequency: 6.000
Interest Frequency Range: 6 - 6
- --------------------------------------------------------------------------------
*excludes loans with missing ltv
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
AL 2 164,374.68 0.04
AR 14 1,167,414.32 0.26
AZ 106 10,395,867.20 2.36
CA 810 107,291,155.15 24.32
CO 161 15,249,959.46 3.46
CT 84 9,121,270.19 2.07
DC 15 1,194,305.42 0.27
DE 7 902,669.21 0.20
FL 249 20,454,287.24 4.64
GA 111 10,935,393.76 2.48
HI 113 22,981,152.51 5.21
IA 6 557,119.12 0.13
ID 53 4,508,256.50 1.02
IL 495 45,571,212.14 10.33
IN 64 3,403,263.04 0.77
KS 15 759,107.74 0.17
KY 29 1,568,075.08 0.36
LA 9 543,761.25 0.12
MA 163 18,520,760.19 4.20
MD 94 9,035,546.28 2.05
ME 11 654,854.66 0.15
MI 114 8,117,304.58 1.84
MN 66 4,580,150.65 1.04
MO 102 4,464,954.11 1.01
MS 3 333,076.65 0.08
MT 5 411,256.91 0.09
NC 118 7,112,328.18 1.61
NE 5 285,517.47 0.06
NH 44 3,511,246.43 0.80
NJ 55 6,916,383.51 1.57
NM 38 3,129,562.05 0.71
NV 67 7,363,428.03 1.67
NY 22 3,748,432.21 0.85
OH 149 9,164,456.18 2.08
OK 20 1,447,422.60 0.33
OR 179 15,988,696.98 3.62
PA 90 6,127,020.59 1.39
RI 55 4,231,677.95 0.96
SC 35 2,307,747.89 0.52
TN 12 688,008.43 0.16
TX 148 12,526,172.71 2.84
UT 138 13,795,239.10 3.13
VA 114 11,377,259.45 2.58
VT 3 394,587.14 0.09
WA 175 18,938,100.02 4.29
WI 146 8,654,899.15 1.96
WV 6 320,274.41 0.07
WY 3 219,968.16 0.05
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
ORIGINAL LOAN-TO-VALUE RATIOS
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
= 0.000 5 149,376.65 0.03
5.000 - 10.000 2 206,984.39 0.05
10.000 - 15.000 1 32,952.17 0.01
15.000 - 20.000 7 268,140.36 0.06
20.000 - 25.000 11 518,463.55 0.12
25.000 - 30.000 25 1,431,078.79 0.32
30.000 - 35.000 30 2,028,689.75 0.46
35.000 - 40.000 63 3,972,485.49 0.90
40.000 - 45.000 73 5,320,250.50 1.21
45.000 - 50.000 145 9,235,713.56 2.09
50.000 - 55.000 220 16,808,696.86 3.81
55.000 - 60.000 353 26,513,944.82 6.01
60.000 - 65.000 692 58,618,542.26 13.29
65.000 - 70.000 902 83,691,012.87 18.97
70.000 - 75.000 989 109,191,320.35 24.75
75.000 - 80.000 746 89,164,631.62 20.21
80.000 - 85.000 142 18,735,440.29 4.25
85.000 - 90.000 117 15,247,252.40 3.46
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
GROSS MORTGAGE INTEREST RATE RANGE
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
0.00% - 5.00% 1 64,642.58 0.01
5.00% - 5.50% 2 138,545.47 0.03
5.50% - 6.00% 6 914,874.14 0.21
6.00% - 6.50% 14 1,575,148.77 0.36
6.50% - 7.00% 35 4,480,479.32 1.02
7.00% - 7.50% 48 6,170,996.06 1.40
7.50% - 8.00% 122 15,608,432.86 3.54
8.00% - 8.50% 232 28,585,759.75 6.48
8.50% - 9.00% 412 47,748,699.36 10.82
9.00% - 9.50% 443 52,461,318.66 11.89
9.50% - 10.00% 611 69,652,279.43 15.79
10.00% - 10.50% 526 52,573,631.95 11.92
10.50% - 11.00% 616 57,400,602.59 13.01
11.00% - 11.50% 433 34,907,728.37 7.91
11.50% - 12.00% 340 25,745,137.81 5.84
12.00% - 12.50% 214 14,306,683.30 3.24
12.50% - 13.00% 173 11,388,681.28 2.58
13.00% - 13.50% 112 6,479,023.45 1.47
13.50% - 14.00% 96 6,134,137.92 1.39
14.00% - 14.50% 51 3,059,374.49 0.69
14.50% - 15.00% 21 1,120,033.91 0.25
15.00% - 15.50% 5 249,517.42 0.06
15.50% - 16.00% 6 246,995.00 0.06
16.00% - 16.50% 3 104,759.47 0.02
17.50% - 18.00% 1 17,493.32 0.00
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
CURRENT MORTGAGE LOAN AMOUNTS
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
Balance less than or equal to 50,000 1105 39,236,463.81 8.89
50,000 - 100,000 1863 138,118,206.02 31.31
100,000 - 150,000 864 104,824,217.70 23.76
150,000 - 200,000 342 59,242,461.00 13.43
200,000 - 250,000 161 36,004,853.91 8.16
250,000 - 300,000 83 22,722,553.56 5.15
300,000 - 350,000 50 16,229,344.46 3.68
350,000 - 400,000 25 9,374,819.48 2.13
400,000 - 450,000 7 3,008,395.58 0.68
450,000 - 500,000 14 6,690,688.40 1.52
500,000 - 550,000 1 549,498.19 0.12
550,000 - 600,000 1 569,559.47 0.13
600,000 - 650,000 5 3,171,417.18 0.72
650,000 - 700,000 1 658,212.77 0.15
700,000 - 750,000 1 734,285.15 0.17
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Single-family 3761 364,882,267.68 82.71
PUD 192 27,445,148.17 6.22
Townhouses 6 648,245.42 0.15
Manufactured Housing 19 1,366,762.96 0.31
Condominiums 217 18,701,447.52 4.24
2-4 Family 319 27,186,100.62 6.17
Other 9 905,004.31 0.21
YEARS OF ORIGINATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Year of Mortgage Principal Principal
Origination Loans Balance Balance
1994 3 521,668.43 0.12
1995 26 3,587,386.36 0.81
1996 4494 437,025,921.89 99.07
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
REMAINING MONTHS TO STATED MATURITY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
168 - 180 114 6,103,351.53 1.38%
324 - 336 1 205,918.20 0.05%
336 - 348 23 3,115,279.15 0.71%
348 - 360 4,385 431,710,427.80 97.86%
OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Owner Occ. 3935 401,776,357.46 91.08
Non Owner Occ. 586 39,235,275.01 8.89
Unknown 2 123,344.21 0.03
GROSS MARGIN
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Floor Loans Balance Balance
3.500 - 4.00 2 208,818.07 0.05
4.000 - 4.50 122 13,899,395.90 3.15
4.500 - 5.00 386 40,470,231.14 9.17
5.000 - 5.50 714 75,229,156.92 17.05
5.500 - 6.00 837 90,411,372.63 20.50
6.000 - 6.50 835 84,333,341.62 19.12
6.500 - 7.00 732 69,127,925.05 15.67
7.000 - 7.50 481 38,724,649.42 8.78
7.500 - 8.00 238 16,865,537.53 3.82
8.000 - 8.50 102 6,915,828.89 1.57
8.500 - 9.00 47 3,556,934.22 0.81
9.000 - 9.50 15 668,080.13 0.15
9.500 - 10.00 7 559,712.65 0.13
10.000 - 10.50 3 102,538.56 0.02
10.500 - 11.00 1 17,493.32 0.00
11.500 - 12.50 1 43,960.63 0.01
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
LIFE CAP
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Cap Loans Balance Balance
11.500 - 12.000 2 536,197.67 0.12
12.000 - 12.500 3 220,386.42 0.05
12.500 - 13.000 14 1,786,341.17 0.40
13.000 - 13.500 34 4,379,051.08 0.99
13.500 - 14.000 75 8,853,717.34 2.01
14.000 - 14.500 106 14,290,963.74 3.24
14.500 - 15.000 279 34,959,135.17 7.92
15.000 - 15.500 376 44,092,787.03 10.00
15.500 - 16.000 584 70,554,359.97 15.99
16.000 - 16.500 553 59,829,751.00 13.56
16.500 - 17.000 646 61,922,447.72 14.04
17.000 - 17.500 483 43,040,576.23 9.76
17.500 - 18.000 388 32,027,927.43 7.26
18.000 - 18.500 305 22,267,263.59 5.05
18.500 - 19.000 209 14,678,438.09 3.33
19.000 - 19.500 143 8,688,724.75 1.97
19.500 - 20.000 116 6,955,650.84 1.58
20.000 - 20.500 101 6,229,007.46 1.41
20.500 - 21.000 57 3,353,790.46 0.76
21.000 - 21.500 24 1,337,245.98 0.30
21.500 - 22.000 14 750,118.61 0.17
22.000 - 22.500 4 123,419.59 0.03
22.500 - 23.000 3 135,422.55 0.03
23.000 - 23.500 3 104,759.47 0.02
24.500 - 25.000 1 17,493.32 0.00
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
NEXT INTEREST ROLLDATE DATE
Percentage of
Aggregate Cut-off Date
Next Number of Unpaid Aggregate
Roll Mortgage Principal Principal
Date Loans Balance Balance
01/01/97 115 $11,920,472.77 2.70
02/01/97 580 $60,877,318.16 13.80
03/01/97 740 $76,734,280.69 17.39
04/01/97 463 $48,184,816.32 10.92
05/01/97 140 $13,748,376.58 03.12
06/01/97 13 $1,228,856.62 0.28
01/01/98 2 $134,804.19 0.03
02/01/98 3 $274,107.67 0.06
03/01/98 6 $886,859.39 0.20
04/01/98 8 $1,005,495.45 0.23
05/01/98 22 $2,011,125.10 0.46
06/01/98 19 $1,244,478.44 0.28
07/01/98 48 $4,031,835.26 0.91
08/01/98 278 $29,638,683.78 6.72
09/01/98 497 $44,544,345.79 10.10
10/01/98 494 $49,583,875.16 11.24
11/01/98 199 $18,084,431.58 4.10
04/01/99 1 $197,800.17 0.04
05/01/99 2 $182,798.07 0.04
06/01/99 10 $740,062.73 0.17
07/01/99 164 $13,897,247.39 3.15
08/01/99 297 $26,430,378.17 5.99
09/01/99 390 $33,482,107.18 7.59
10/01/99 32 $2,070,420.02 0.47
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
<PAGE>
AMRESCO 1996-5 CS First Boston Computational Materials
PAG CODE 26-Nov-1996
Page 1
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
PAG Mortgage Principal Principal
CODE Loans Balance Balance
* 140 10,278,370.19 2.33
01 275 30,780,891.12 6.98
02 1719 194,596,337.33 44.11
03 935 93,102,953.01 21.11
04 454 35,103,261.06 7.96
05 1000 77,273,163.97 17.52
*missing
SERVICER
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Servicer Loans Balance Balance
ADVANTA 2899 282,348,027.99 64.00
OPTION ONE 1624 158,786,948.69 36.00
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
[GRAPHIC] CS FIRST BOSTON
This material is for your private information and we are not soliciting any
action based upon it. This material is not to be construed as an offer to sell
or the solicitation of any offer to buy any security in any jurisdiction where
such an offer or solicitation would be illegal. This material is based on
information that we consider reliable, but we do not represent that it is
accurate or complete and it should not be relied upon as such. By accepting this
material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may not
pertain to any securities that will actually be sold. The information contained
in this material may be based on assumptions regarding market conditions and
other matters as reflected therein. We make no representations regarding the
reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. We and our affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of this material may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned therein or
derivatives thereof (including options). This material may be filed with the
Securities and Exchange Commission (the "SEC") and incorporated by reference
into an effective registration statement previously filed with the SEC under
Rule 415 of the Securities Act of 1933, including in cases where the material
does not pertain to securities that are ultimately offered for sale pursuant to
such registration statement. Information contained in this material is current
as of the date appearing on this material only. Information in this material
regarding any assets backing any securities discussed herein supersedes all
prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you.
This material is furnished solely by Goldman, Sachs & Co. and not by the issuer
of the securities or any of its affiliates. Goldman, Sachs & Co. is acting as
underwriter and not acting as agent for the issuer or its affiliates in
connection with the proposed transaction. The issuer has not prepared or taken
part in the preparation of these materials.
- --------------------------------------------------------------------------------
December 2, 1996
$700.000 mm (approx) Class A Certificates
AMRESCO RESIDENTIAL SECURITIES CORPORATION MORTGAGE LOAN TRUST 1996-5
Preliminary Structure
<TABLE>
<CAPTION>
Face Expected Legal
Amount Interest First Payment Avg. Life Backed by Final
Class ($MM) Rate Date(1) (4) Loan Group Payment Date
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A1 $42.200 6.475% January 25, 1997 0.80 yrs Loan Group I August 25, 2011
- --------------------------------------------------------------------------------------------------------------------------------
A2 $29.000 6.300% May 25, 1998 2.00 yrs Loan Group I April 25, 2018
- --------------------------------------------------------------------------------------------------------------------------------
A3 $16.500 6.425% July 25, 1999 3.00 yrs Loan Group I October 25, 2020
- --------------------------------------------------------------------------------------------------------------------------------
A4 $17.000 6.575% May 25, 2000 4.01 yrs Loan Group I September 25, 2022
- --------------------------------------------------------------------------------------------------------------------------------
A5 $15.000 6.700% July 25, 2001 5.31 yrs Loan Group I March 25, 2024
- --------------------------------------------------------------------------------------------------------------------------------
A6 $15.900 6.975% January 25, 2003 7.27 yrs Loan Group I June 25, 2025
- --------------------------------------------------------------------------------------------------------------------------------
A7 $14.400 7.150%(2) December 25, 2004 11.63 yrs Loan Group I November 25, 2026
- --------------------------------------------------------------------------------------------------------------------------------
A8 $550.000 1 mo. LIBOR +[24] bp(3) January 25, 1997 3.46 yrs Loan Group II November 25, 2026
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Payment Dates are the 25th of each respective month, or if such day is not
a business day, the next succeeding business day.
(2) If Clean Up Call is not exercised, coupon will step up 0.50%
(3) The lesser of (i) prior to Clean Up Call, 0.24% after Clean Up Call,
0.48%and (ii) An Available Funds Cap.
(4) Assumes a base scenario where the Group I Loans prepay at 2.3% CPR in the
first month of the life of the mortgage loans and increases ratably to 23%
CPR by month 10. Remains constant at 23% CPR thereafter. Assumes a base
scenario where the Group II Loans prepay at 2.5% CPR in the first month of
the life of the mortgage loans and increases ratably to 25% CPR by month
10. Remains constant at 25% CPR thereafter. Average lives for Class A-7 and
A-8 assume 10% clean up call is not exercised; if exercised, average lives
would be 8.02 yrs and 3.19 yrs.
<TABLE>
<S> <C>
Managers: Prudential Securities(books), Goldman, Sachs & Co.
Structure: Two Pool Groups; MBIA Certificate Insurance Policy, Overcollateralization,
Cross- Collateralization, Pre-Funding Account and Capitalized Interest Acct
Ratings(expected): Moodys/S&P: Aaa/AAA
Collateral: Initial Mortgage Loans: approx $558 mm with Subsequent Pre-Funded
Mortgage Loans: approx $142 mm
The Mortgage Loans will be comprised of loans from Advanta Mortgage
Corporation USA and Option One.
Group I Loans are fixed rate and Group II Loans are generally LIBOR-based
loans.
Credit Enhancement: i) MBIA Financial Guaranty Insurance Policy that will provide for 100%
coverage of the principal amount of, and scheduled interest due on, the
Class A Certificates;
ii) overcollateralization through a limited acceleration of the Class A Certs;
iii) cross-collateralization across the two pool groups will also be available;
iv) excess monthly cash flow on a current basis.
Pricing/Settlement Date: September [3], 1996/September 18, 1996
</TABLE>
-1-
<PAGE>
This material is for your private information and we are not soliciting any
action based upon it. This material is not to be construed as an offer to sell
or the solicitation of any offer to buy any security in any jurisdiction where
such an offer or solicitation would be illegal. This material is based on
information that we consider reliable, but we do not represent that it is
accurate or complete and it should not be relied upon as such. By accepting this
material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may not
pertain to any securities that will actually be sold. The information contained
in this material may be based on assumptions regarding market conditions and
other matters as reflected therein. We make no representations regarding the
reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. We and our affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of this material may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned therein or
derivatives thereof (including options). This material may be filed with the
Securities and Exchange Commission (the "SEC") and incorporated by reference
into an effective registration statement previously filed with the SEC under
Rule 415 of the Securities Act of 1933, including in cases where the material
does not pertain to securities that are ultimately offered for sale pursuant to
such registration statement. Information contained in this material is current
as of the date appearing on this material only. Information in this material
regarding any assets backing any securities discussed herein supersedes all
prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you.
This material is furnished solely by Goldman, Sachs & Co. and not by the issuer
of the securities or any of its affiliates. Goldman, Sachs & Co. is acting as
underwriter and not acting as agent for the issuer or its affiliates in
connection with the proposed transaction. The issuer has not prepared or taken
part in the preparation of these materials.
- --------------------------------------------------------------------------------
AMRESCO Residential Securities Corporation Series 1996-5
PRELIMINARY DESCRIPTION OF INITIAL GROUP I MORTGAGE LOANS
1,774 loans for $117.082 mm
Fixed Rate Loans
----------------
<TABLE>
<CAPTION>
Gross Mortgage % Original LTV %
Interest Rate
<S> <C> <C> <C>
Wtd Avg 11.28 WTD Avg LTV 65.77
6.50 - 8.50% 0.87 0 - 35% 3.77
8.50 - 9.00 4.84 35 - 40 2.14
9.00 - 9.50 8.64 40 - 45 2.22
9.50 - 10.00 14.31 45 - 50 4.78
10.00 - 10.50 9.28 50 - 55 4.86
10.50 - 11.00 12.91 55 - 60 9.84
11.00 - 11.50 8.87 60 - 65 16.45
11.50 - 12.00 10.19 65 - 70 17.05
12.00 - 12.50 7.24 70 - 75 24.08
12.50 - 13.00 7.85 75 - 80 10.88
13.00 - 13.50 5.15 80 - 85 2.91
13.50 - 14.00 3.77 85 - 90 1.01
14.00 - 14.50 2.54
14.50 - 15.00 2.16
15.00 - 18.00 1.38 Occupancy Status %
Owner 87.43
Age Non-Owner 12.54
Wtd Avg 2.8 months
Property Type %
Remaining Months % Single Family 82.46
WAM 318 months 2 - 4 Family 10.05
48 - 60 0.02 PUD 3.98
168 - 180 21.00 Condominium 2.73
228 - 348 0.73 Manufactured Housing 0.36
348 - 360 78.24 Townhouses 0.28
Other 0.14
Principal Balance %
0 - 50M 24.85 State Concentration %
50 - 100 36.76 California 27.75
100 - 150 18.67 Hawaii 8.52
150 - 200 7.88 Illinois 7.84
200 - 250 3.80 Florida 7.82
250 - 300 2.76 Colorado 4.14
300 - 350 1.72 Ohio 3.37
350 - 400 1.93 Other 40.56
400 - 450 1.12
550 - 600 0.51
Servicer %
PAG (Amresco Credit Grade) % Advanta 78.65
* 1.81 Option One 21.35
1 9.77
2 43.25
3 17.49
4 8.77
5 18.92
</TABLE>
-2-
<PAGE>
This material is for your private information and we are not soliciting any
action based upon it. This material is not to be construed as an offer to sell
or the solicitation of any offer to buy any security in any jurisdiction where
such an offer or solicitation would be illegal. This material is based on
information that we consider reliable, but we do not represent that it is
accurate or complete and it should not be relied upon as such. By accepting this
material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may not
pertain to any securities that will actually be sold. The information contained
in this material may be based on assumptions regarding market conditions and
other matters as reflected therein. We make no representations regarding the
reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. We and our affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of this material may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned therein or
derivatives thereof (including options). This material may be filed with the
Securities and Exchange Commission (the "SEC") and incorporated by reference
into an effective registration statement previously filed with the SEC under
Rule 415 of the Securities Act of 1933, including in cases where the material
does not pertain to securities that are ultimately offered for sale pursuant to
such registration statement. Information contained in this material is current
as of the date appearing on this material only. Information in this material
regarding any assets backing any securities discussed herein supersedes all
prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you.
This material is furnished solely by Goldman, Sachs & Co. and not by the issuer
of the securities or any of its affiliates. Goldman, Sachs & Co. is acting as
underwriter and not acting as agent for the issuer or its affiliates in
connection with the proposed transaction. The issuer has not prepared or taken
part in the preparation of these materials.
- --------------------------------------------------------------------------------
AMRESCO Residential Securities Corporation Series 1996-5
PRELIMINARY DESCRIPTION OF INITIAL GROUP II MORTGAGE LOANS
4,523 loans for $441.135 mm
Floating Rate Loans
-------------------
<TABLE>
<CAPTION>
Gross Mortgage % Original LTV %
Interest Rate
<S> <C> <C> <C>
Wtd Avg 10.14 WTD Avg LTV 70.69
0.00 - 7.50 3.03 0 - 40% 1.95
7.50 - 8.00 3.54 40 - 45 1.21
8.00 - 8.50 6.48 45 - 50 2.09
8.50 - 9.00 10.82 50 - 55 3.81
9.00 - 9.50 11.89 55 - 60 6.01
9.50 - 10.00 15.79 60 - 65 13.29
10.00 - 10.50 11.92 65 - 70 18.97
10.50 - 11.00 13.01 70 - 75 24.75
11.00 - 11.50 7.91 75 - 80 20.21
11.50 - 12.00 5.84 80 - 85 4.25
12.00 - 12.50 3.24 85 - 90 3.46
12.50 - 13.00 2.58
13.00 - 18.00 3.94 Occupancy Status %
Owner Occupied 91.08
Non-owner Occupied 8.89
Age 3.23 months
Gross Margin % Next Roll Date %
Wtd Avg 6.14 01/01/97 2.70
3.50 - 4.00 0.05 02/01/97 13.80
4.00 - 4.50 3.15 03/01/97 17.39
4.50 - 5.00 9.17 04/01/97 10.92
5.00 - 5.50 17.05 05/01/97 3.12
5.50 - 6.00 20.50 06/01/97 0.28
6.00 - 6.50 19.12 01/01/98 0.03
6.50 - 7.00 15.67 02/01/98 0.06
7.00 - 7.50 8.78 03/01/98 0.20
7.50 - 8.00 3.82 04/01/98 0.23
8.00 - 8.50 1.57 05/01/98 0.46
8.50 - 12.50 1.12 06/01/98 0.28
07/01/98 0.91
08/01/98 6.72
09/01/98 10.10
10/01/98 11.24
11/01/98 4.10
04/01/99 0.04
05/01/99 0.04
06/01/99 0.17
07/01/99 3.15
08/01/99 5.99
09/01/99 7.59
10/01/99 0.47
</TABLE>
PRELIMINARY DESCRIPTION OF INITIAL GROUP II (continued)
-3-
<PAGE>
This material is for your private information and we are not soliciting any
action based upon it. This material is not to be construed as an offer to sell
or the solicitation of any offer to buy any security in any jurisdiction where
such an offer or solicitation would be illegal. This material is based on
information that we consider reliable, but we do not represent that it is
accurate or complete and it should not be relied upon as such. By accepting this
material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may not
pertain to any securities that will actually be sold. The information contained
in this material may be based on assumptions regarding market conditions and
other matters as reflected therein. We make no representations regarding the
reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. We and our affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of this material may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned therein or
derivatives thereof (including options). This material may be filed with the
Securities and Exchange Commission (the "SEC") and incorporated by reference
into an effective registration statement previously filed with the SEC under
Rule 415 of the Securities Act of 1933, including in cases where the material
does not pertain to securities that are ultimately offered for sale pursuant to
such registration statement. Information contained in this material is current
as of the date appearing on this material only. Information in this material
regarding any assets backing any securities discussed herein supersedes all
prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you.
This material is furnished solely by Goldman, Sachs & Co. and not by the issuer
of the securities or any of its affiliates. Goldman, Sachs & Co. is acting as
underwriter and not acting as agent for the issuer or its affiliates in
connection with the proposed transaction. The issuer has not prepared or taken
part in the preparation of these materials.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
LifeTime Caps % Property Type %
<S> <C> <C> <C>
Weighted Average 16.55 Single Family 82.71
11.50 - 13.50 1.56 PUD 6.22
13.50 - 14.00 2.01 2-4 Family 6.17
14.00 - 14.50 3.24 Condominium 4.24
14.50 - 15.00 7.92 Manufactured Housing 0.31
15.00 - 15.50 10.00 Townhouses 0.15
15.50 - 16.00 15.99 Other 0.21
16.00 - 16.50 13.56
16.50 - 17.00 14.04
17.00 - 17.50 9.76
17.50 - 18.00 7.26
18.00 - 18.50 5.05
18.50 - 19.00 3.33
19.00 - 19.50 1.97
19.50 - 20.00 1.58
20.00 - 20.50 1.41
20.50 - 25.00 1.31
Remaining Months % State Concentration %
WAM 354 months California 24.32
168 - 180 1.38 Illinois 10.33
324 - 336 0.05 Hawaii 5.21
336 - 348 0.71 Florida 4.64
348 - 360 97.86 Washington 4.29
Massachusetts 4.20
Principal Balance % Other 47.01
0 - 50M 8.89
50 - 100 31.31
100 - 150 23.76 Servicer %
150 - 200 13.43 Advanta 64.00
200 - 250 8.16 Option One 36.00
250 - 300 5.15
300 - 350 3.68 PAG (Amresco Credit Grade)
350 - 400 2.13 * 2.33
400 - 450 0.68 1 6.98
450 - 500 1.52 2 44.11
500 - 750 1.29 3 21.11
4 7.96
5 17.52
</TABLE>
