<PAGE>
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): November 19, 1997
Transamerica Consumer Mortgage Receivables Corporation
- - -------------------------------------------------------------------------------
(Exact name of the registrant as specified in its charter)
Delaware 333-00282 33-0688964
- - -------------------------------------------------------------------------------
(State or other (Commission file number) (I.R.S. employer
jurisdiction of identification
incorporation) number)
1150 South Olive Street, Suit 2800, Los Angeles, CA 90015
- - -------------------------------------------------------------------------------
(Address of principal executive office) (Zip code)
Registrant's telephone number, including area code: (213) 742-4865
-----------------
____________________________________
(Former name or former address, if changed since last report)
Exhibit Index Located on Page 2
<PAGE>
Items 1 through 6 and 8 are not included because they are not applicable.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
------------------------------------------------------------------
(a) Not applicable
(b) Not applicable
(c) Exhibits
Sequential
Numbered
Exhibit Exhibit
Number Page
- - ------- ----------
99.1 Computational Materials prepared by JP Morgan
Securities Inc., in connection with TFC Home
Equity Loan Asset-Backed Certificates, Series 1997-1
2
<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 thereunto duly authorized.
TRANSAMERICA CONSUMER
MORTGAGE RECEIVABLES
CORPORATION
By: /s/ Steve McAvoy
-------------------------
Name: Steve McAvoy
Title: Vice-President and Controller
Dated: November 20, 1997
3
<PAGE>
- - -------------------------------------------------------------------------------
JP MORGAN November 20, 1997
- - -------------------------------------------------------------------------------
$168,003,000 TFC HOME EQUITY LOAN TRUST, 1997-1
TRANSACTION HIGHLIGHTS
----------------------
POOL 1 (FIXED)
<TABLE>
<CAPTION>
- - -----------------------------------------------------------------------------------------------------------------------------------
PAYMENT
APPROXIMATE EXPECTED AVERAGE LIFE WINDOWS TO 10% EXPECTED LEGAL
CLASS CLASS SIZE RATINGS TO 10% CALL/ MATURITY COUPON FINAL
CLASS/1/ TYPE/2/ ($ THOUSANDS) (MOODY'S/ S&P) CALLL/MATURITY/4/ (MONTHS)/4/ DAY COUNT RATE MATURITY
===================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 Floating $24,564,000 Aaa/AAA 1.00 1-27 Act/360 1 mL+[X] 4/25/07
A-2 Fixed $10,989,000 Aaa/AAA 3.00 27-47 30/360 n/a 1/25/11
A-3 Fixed $ 9,686,000 Aaa/AAA 5.00 47-76 30/360 n/a 1/25/17
A-4 Fixed $11,181,000 Aaa/AAA 7.65 76-96 30/360 n/a 1/1/28
--------- -----------
TOTAL $56,420,000 -- -- -- --
- - ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
/1/ Classes A-1 through A-4 are collateralized by the Fixed rate pool and are
sequential pay.
/2/ Payable monthly starting 12/26/97. A-1 settles flat. A-2 through A-4 settle
with accrued from 11/1/97 Cut-Off.
/3/ A-1 subject to a Net WAC Cap equal to the WAC minus servicing fee minus
trustee expenses minus a 0.50% carve-out.
/4/ Tranches priced to the 10% clean-up call. If the Master Servicer chooses
not to call the bonds, there will be an Auction Sale to sell the remaining
Mortgage Loans.
POOL 2 (ADJUSTABLE)
<TABLE>
<CAPTION>
- - ------------------------------------------------------------------------------------------------------------------------------------
EXPECTED PAYMENT
APPROXIMATE RATINGS WINDOWS TO 10% EXPECTED
CLASS CLASS SIZE (MOODY'S/ AVERAGE LIFE TO CALL DAY COUPON LEGAL FINAL
CLASS/5/ TYPE/6/ ($ THOUSANDS) S&P) 10% CALL/8/ (MONTHS)/8/ COUNT RATE MATURITY
====================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-5/7/ Floating $111,583,000 Aaa/AAA 2.78 1-96 Act/360 1mL+[X] 10/1/28
--------- ------------
TOTAL $111,583,000 -- -- -- --
- - ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
/5/ Classes A-5 is collateralized by the Adjustable rate pool.
/6/ Payable monthly starting 12/26/97. A-5 settles flat.
/7/ A-5 subject to a Net WAC Cap equal to the WAC minus servicing fee minus
trustee expenses minus a 0.75% carve-out beginning after six months.
/8/ Tranches priced to the 10% clean-up call. If the Master Servicer chooses
not to call the bonds, there will be an Auction Sale to sell the remaining
Mortgage Loans.
ORIGINATORS: Metropolitan Mortgage Company,
Transamerica Mortgage Company.
SUBSERVICERS: Metropolitan Mortgage Company,
Transamerica Mortgage Company.
MASTER SERVICER: Transamerica Mortgage Company.
SELLER: Transamerica Consumer Mortgage
Receivables Corporation.
UNDERWRITERS: J.P. Morgan Securities Inc. lead
manager, BancAmerica Robertson
Stephens co-manager.
COLLATERAL: Fixed and adjustable home equity loans
secured by first, second and third
lien mortgages.
See attached "Collateral Description".
POOL 1
PREPAYMENT SPEED: The prepayment assumption is 100% of
the prepayment curve, which equates to
a prepayment speed of 1.8% CPR in the
first month, increasing by 1.8% per
month to 18% CPR in month 10 and
remaining at 18% thereafter.
Additional information is available upon request. Information herein is believed
to be reliable but J.P. Morgan does not warrant its completeness or accuracy.
These materials are subject to change from time to time without notice. Past
performance is not indicative of future results. Any description of the
collateral contained herein supersedes any previous collateral information and
will be superseded by the final prospectus relating to the securities. These
materials are not intended as an offer or solicitation with respect to the
purchase or sale of any security, and have been provided to you for
informational purposes only and may not be relied upon by you in evaluating the
merits of investing in the securities. Any investment decision with respect to
the securities should be made by you based solely upon the information contained
in the final prospectus relating to the securities. No assurance or
representation can be made as to the actual rate or timing of principal payments
or prepayments on any of the collateral or the performance characteristics of
the securities. This information was prepared in reliance on information
regarding the collateral furnished by the seller of the collateral. J.P. Morgan
may hold a position or act as market maker in the financial instruments of any
issuer discussed herein or act as advisor or lender to such issuer. J.P. Morgan
Securities Inc. is a member of SIPC and SFA. Copyright 1997 J.P. Morgan & Co.
Incorporated.
<PAGE>
POOL 2
PREPAYMENT SPEED: Constant prepayment speed of 26% CPR.
EXPECTED PRICING DATE: TBD
CUT-OFF DATE: October 31, 1997.
DISTRIBUTION DATES: The 25th of each month, beginning
December 26, 1997.
OPTIONAL TERMINATION DATE: On any Distribution Date on which the
pool balance is less than 10% of the
Cut-off Date pool balance, the Master
Servicer will have the option to
purchase, in whole, the Mortgage
Loans, if any, remaining in the trust.
AUCTION SALE AFTER If the Master Servicer does not
OPTIONAL TERMINATION: exercise its optional termination
right within 90 days after the
Optional Termination Date, the Trustee
is required to solicit bids for the
purchase of all Mortgage Loans
remaining in the trust. If
satisfactory bids are received, such
remaining Mortgage Loans will be sold
and the proceeds distributed to the
Certificate holders in the same
priority as distributions on a
Distribution Date.
POOL 1 NET WAC CAP: The Pass-Through Rate for the A-1
Floating Rate Certificates for any
Distribution Date will be a per annum
rate equal to the lesser of (1) the
sum of one month LIBOR plus [x] and
(2) the Pool 1 Net WAC Cap. The Pool 1
Net WAC Cap for any Distribution Date
will equal the weighted average of the
Pool 1 Net Mortgage Rates of the fixed
rate Mortgage Loans as of the first
day of the related due period minus
0.50% carve-out. The Pool 1 Net
Mortgage Rate of any Mortgage Loan
will equal the Mortgage Interest Rate
thereof minus Servicing Fee, Insurer
Premium and trustee expenses.
POOL 2 NET WAC CAP: The Pass-Through Rate for the A-5
Floating Rate Certificates for any
Distribution Date will be a per annum
rate equal to the lesser of (1) the
sum of one month LIBOR plus [x] and
(2) the Pool 2 Net WAC Cap. The Pool 2
Net WAC Cap for any Distribution Date
will equal the weighted average of the
Pool 2 Net Mortgage Rates of the
adjustable rate Mortgage Loans as of
the first day of the related due
period minus 0.75% carve-out beginning
after six months. The Pool 2 Net
Mortgage Rate of any Mortgage Loan
will equal the Mortgage Interest Rate
thereof minus Servicing Fee, Insurer
Premium and trustee expenses.
INTEREST CARRYOVER AMOUNT: For any Class and Distribution Date
the Interest Carryover Amount will
equal the sum of the excess, if any,
of the current interest for the
preceding Distribution Date plus any
outstanding Interest Carryover for
such class preceding Distribution
Date, over the amount in respect of
interest that is actually distributed
on the Certificates of such Class on
such preceding Distribution Date and
(ii) one month's interest on such
excess at the related Pass-Through
Rate, to the extent permitted by law.
TRUST TAX STATUS: REMIC
ERISA ELIGIBILITY: The Class A-1, A-2, A-3, A-4 and A-5
Certificates are ERISA eligible.
SMMEA ELIGIBILITY: The Certificates are NOT SMMEA
eligible.
CREDIT ENHANCEMENT
- - ------------------
POOL 1 (FIXED)
. overcollateralization building from 0% to a target percentage of the
original pool balance
. cross-collateralization to Pool 2
. 100% AMBAC insurance policy
POOL 2 (ADJUSTABLE)
Additional information is available upon request. Information herein is
believed to be reliable but J.P. Morgan does not warrant its completeness or
accuracy. These materials are subject to change from time to time without
notice. Past performance is not indicative of future results. Any description
of the collateral contained herein supersedes any previous collateral
information and will be superseded by the final prospectus relating to the
securities. These materials are not intended as an offer or solicitation with
respect to the purchase or sale of any security, and have been provided to you
for informational purposes only and may not be relied upon by you in evaluating
the merits of investing in the securities. Any investment decision with respect
to the securities should be made by you based solely upon the information
contained in the final prospectus relating to the securities. No assurance or
representation can be made as to the actual rate or timing of principal
payments or prepayments on any of the collateral or the performance
characteristics of the securities. This information was prepared in reliance on
information regarding the collateral furnished by the seller of the collateral.
J.P. Morgan may hold a position or act as market maker in the financial
instruments of any issuer discussed herein or act as advisor or lender to such
issuer. J.P. Morgan Securities Inc. is a member of SIPC and SFA. Copyright 1997
J.P. Morgan & Co. Incorporated.
<PAGE>
. overcollateralization building from 1% to a target percentage of the
original pool balance
. cross-collateralization to Pool 1
. 100% AMBAC insurance policy
MOODY'S, STANDARD & POOR'S AND FITCH INVESTORS SERVICE HAVE EACH ASSIGNED A
TRIPLE-A CLAIMS-PAYING ABILITY TO AMBAC.
TFC HOME EQUITY LOAN TRUST 1997-1 COLLATERAL DESCRIPTION
--------------------------------------------------------
POOL 1 - FIXED
<TABLE>
<CAPTION>
FIXED RATE HOME EQUITY INSTALLMENT LOANS/1/
-------------------------------------------
<S> <C>
AGGREGATE POOL BALANCE ($MM): $56,420,537.01
NUMBER OF LOANS: 2,008
AVERAGE OUTSTANDING BALANCE: $28,097.88 (max: 585,494.81; min: 524.35)
PRODUCT TYPE: Fixed Rate Closed-End Home Equity Loans
WEIGHTED AVERAGE COUPON: 11.68% (max: 15.95%; min: 8.625%)
ORIGINAL WEIGHTED AVERAGE TERM: 225.436 months (max: 360; min: 24)
REMAINING WEIGHTED AVERAGE TERM: 215.071 months (max: 360; min: 6)
WEIGHTED AVERAGE SEASONING: 10.365 months (max: 199; min: 0)
LIEN POSITION: 78.03% first lien, 21.49% second lien,
0.47% third lien
WEIGHTED AVERAGE COMBINED LOAN TO VALUE RATIO: 61.582% (max: 100%; min: 3%)
PROPERTY TYPE: 95.67% single family; 1.39% PUD;
1.24% 2-4 family; 0.99% manufactured
housing; 0.33% condominium; 0.24% duplex
OWNER OCCUPANCY: 92.79% mortgager; 6.57% tenant
GEOGRAPHIC DISTRIBUTION: FL (63.65%), OH (5.15%), TX (4.60%),
AZ (2.61%), NC (2.20%)
</TABLE>
NOTE:/1/ All percentages and weighted averages calculated on the outstanding
- - ----
balance.
Additional information is available upon request. Information herein is believed
to be reliable but J.P. Morgan does not warrant its completeness or accuracy.
These materials are subject to change from time to time without notice. Past
performance is not indicative of future results. Any description of the
collateral contained herein supersedes any previous collateral information and
will be superseded by the final prospectus relating to the securities. These
materials are not intended as an offer or solicitation with respect to the
purchase or sale of any security, and have been provided to you for
informational purposes only and may not be relied upon by you in evaluating the
merits of investing in the securities. Any investment decision with respect to
the securities should be made by you based solely upon the information contained
in the final prospectus relating to the securities. No assurance or
representation can be made as to the actual rate or timing of principal payments
or prepayments on any of the collateral or the performance characteristics of
the securities. This information was prepared in reliance on information
regarding the collateral furnished by the seller of the collateral. J.P. Morgan
may hold a position or act as market maker in the financial instruments of any
issuer discussed herein or act as advisor or lender to such issuer. J.P. Morgan
Securities Inc. is a member of SIPC and SFA. Copyright 1997 J.P. Morgan & Co.
Incorporated.
<PAGE>
TFC HOME EQUITY LOAN TRUST 1997-1 COLLATERAL DESCRIPTION
--------------------------------------------------------
POOL 2 - ADJUSTABLE
<TABLE>
<S> <C>
AGGREGATE POOL BALANCE ($MM): $112,710,807.08
NUMBER OF LOANS: 1,145
AVERAGE OUTSTANDING BALANCE: $98,437.39
PRODUCT TYPE: Adjustable Home Equity Loans
WEIGHTED AVERAGE COUPON: 9.953% (max: 13.95%; min: 6.75%)
ORIGINAL WEIGHTED AVERAGE TERM: 359.924 months (max: 360; min: 180)
REMAINING WEIGHTED AVERAGE TERM: 351.763 months (max: 360; min: 62)
WEIGHTED AVERAGE SEASONING: 8.161 months (max: 168; min: 0)
LIEN POSITION: 99.96% first lien, 0.04% second lien
WEIGHTED AVERAGE COMBINED LOAN TO VALUE RATIO: 77.91% (max: 100%; min: 22%)
WEIGHTED AVERAGE LIFE CAP 15.82% (max: 19.95%; min: 11.75%)
WEIGHTED AVERAGE LIFE FLOOR 9.671% (max: 13.95%; min: 4.25%)
WEIGHTED AVERAGE PERIOD INTEREST CAP 1.932% (max: 10%; min: 1%)
WEIGHTED AVERAGE GROSS MARGIN 4.96% (max: 9.95%; min: 0%)
PROPERTY TYPE: 88.66% single family; 3.74% PUD;
3.46% condominium; 2.20% manufactured housing;
1.22% 2-4 family; 0.55% townhouse
OWNER OCCUPANCY: 95.68% mortgager; 3.40% tenant
GEOGRAPHIC DISTRIBUTION MI (23.58%), TX (11.81%), OH (8.42%),
MD (7.45%), FL (7.06%), CA (5.98%)
</TABLE>
Additional information is available upon request. Information herein is believed
to be reliable but J.P. Morgan does not warrant its completeness or accuracy.
These materials are subject to change from time to time without notice. Past
performance is not indicative of future results. Any description of the
collateral contained herein supersedes any previous collateral information and
will be superseded by the final prospectus relating to the securities. These
materials are not intended as an offer or solicitation with respect to the
purchase or sale of any security, and have been provided to you for
informational purposes only and may not be relied upon by you in evaluating the
merits of investing in the securities. Any investment decision with respect to
the securities should be made by you based solely upon the information contained
in the final prospectus relating to the securities. No assurance or
representation can be made as to the actual rate or timing of principal payments
or prepayments on any of the collateral or the performance characteristics of
the securities. This information was prepared in reliance on information
regarding the collateral furnished by the seller of the collateral. J.P. Morgan
may hold a position or act as market maker in the financial instruments of any
issuer discussed herein or act as advisor or lender to such issuer. J.P. Morgan
Securities Inc. is a member of SIPC and SFA. Copyright 1997 J.P. Morgan & Co.
Incorporated.
<PAGE>
AVERAGE LIFE SENSITIVITY TO CHANGES IN PREPAYMENT RATES
-------------------------------------------------------
POOL 1 (FIXED)
ASSUMES A 10% CALL (OPTIONAL TERMINATION OR AUCTION SALE)
----
<TABLE>
<CAPTION>
- - ------------------------------------------------------------------------------------------------------------------------------------
PPC PREPAYMENT ASSUMPTION
0% 50% 75% 100%/(1)/ 125%
-- --- --- -------- ----
WINDOW WINDOW WINDOW WINDOW WINDOW
WAL (MONTHS) WAL (MONTHS) WAL (MONTHS) WAL (MONTHS) WAL (MONTHS)
- - --------------------------------------------------------------------------------------- -----------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CLASS A-1 4.57 1 - 113 1.72 1 - 46 1.27 1 - 34 1.00 1 - 27 0.82 1 - 22
(113) (46) (34) (27) (22)
CLASS A-2 11.36 113 - 158 5.09 46 - 79 3.81 34 - 60 3.00 27 - 47 2.45 22 - 39
(46) (34) (27) (21) (18)
CLASS A-3 16.01 158 - 230 8.20 79 - 124 6.27 60 - 94 5.00 47 - 76 4.09 39 - 63
(73) (46) (35) (30) (25)
CLASS A-4 24.57 230 - 337 13.96 124 - 207 9.82 94 - 125 7.65 76 - 96 6.41 63 - 81
(108) (84) (32) (21) (19)
- - --------------------------------------------------------------------------------------- ------------------------
<CAPTION>
150% 200%
---- ----
WINDOW WINDOW
WAL (MONTHS) WAL (MONTHS)
- - -------------------------------------------------------------------
<S> <C> <C> <C> <C>
CLASS A-1 0.69 1 - 19 0.51 1 - 14
(19) (14)
CLASS A-2 2.04 19 - 32 1.50 14 - 24
(14) (11)
CLASS A-3 3.43 32 - 53 2.50 24 - 39
(22) (16)
CLASS A-4 5.04 53 - 62 3.73 39 - 46
(10) (8)
- - -------------------------------------------------------------------
</TABLE>
ASSUMES NO 10% CALL (RUN TO MATURITY)
-----------
<TABLE>
<CAPTION>
- - ------------------------------------------------------------------------------------------------------------------------------------
PPC PREPAYMENT ASSUMPTION
0% 50% 75% 100%/(1)/ 125%
-- --- --- -------- ----
WINDOW WINDOW WINDOW WINDOW WINDOW
WAL (MONTHS) WAL (MONTHS) WAL (MONTHS) WAL (MONTHS) WAL (MONTHS)
- - --------------------------------------------------------------------------------------- -----------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CLASS A-1 4.57 1 - 113 1.72 1 - 46 1.27 1 - 34 1.00 1 - 27 0.82 1 - 22
(113) (46) (34) (27) (22)
CLASS A-2 11.36 113 - 158 5.09 46 - 79 3.81 34 - 60 3.00 27 - 47 2.45 22 - 39
(46) (34) (27) (21) (18)
CLASS A-3 16.01 158 - 230 8.20 79 - 124 6.27 60 - 94 5.00 47 - 76 4.09 39 - 63
(73) (46) (35) (30) (25)
CLASS A-4 24.60 230 - 344 14.82 124 - 321 11.80 94 - 278 9.62 76 - 228 8.02 63 - 193
(115) (198) (185) (153) (131)
- - --------------------------------------------------------------------------------------- -----------------------
<CAPTION>
150% 200%
---- ----
WINDOW WINDOW
WAL (MONTHS) WAL (MONTHS)
- - ---------------------------------------------------------------
<S> <C> <C> <C> <C>
CLASS A-1 0.69 1 - 19 0.51 1 - 14
(19) (14)
CLASS A-2 2.04 19 - 32 1.50 14 - 24
(14) (11)
CLASS A-3 3.43 32 - 53 2.50 24 - 39
(22) (16)
CLASS A-4 6.79 53 - 163 5.05 39 - 126
(111) (88)
- - ---------------------------------------------------------------
</TABLE>
POOL 2 (ADJUSTABLE)
ASSUMES A 10% CALL (OPTIONAL TERMINATION OR AUCTION SALE)
----
<TABLE>
<CAPTION>
0% CPR 10% CPR 20% CPR 26% CPR/(1)/ 30% CPR
------ ------- ------- ------------ -------
WINDOW WINDOW WINDOW WINDOW WINDOW
WAL (MONTHS) WAL (MONTHS) WAL (MONTHS) WAL (MONTHS) WAL (MONTHS)
- - ----------------------------------------------------------------------------------------- -------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CLASS A-5 20.01 1 - 337 6.98 1 - 207 3.69 1 - 125 2.78 1 - 96 2.36 1 - 81
(337) (207) (125) (96) (81)
- - ----------------------------------------------------------------- -------------------------------------------------
<CAPTION>
40% CPR 50% CPR
------- -------
WINDOW WINDOW
WAL (MONTHS) WAL (MONTHS)
- - ---------------------------------------------------------------
<S> <C> <C> <C> <C>
CLASS A-5 1.68 1 - 62 1.23 1 - 46
(62) (46)
- - ---------------------------------------------------------------
</TABLE>
ASSUMES NO 10% CALL (RUN TO MATURITY)
-----------
<TABLE>
<CAPTION>
0% CPR 10% CPR 20% CPR 26% CPR/(1)/ 30% CPR 40% CPR
------ ------- ------- ------------ ------- -------
WINDOW WINDOW WINDOW WINDOW WINDOW WINDOW
WAL (MONTHS) WAL (MONTHS) WAL (MONTHS) WAL (MONTHS) WAL (MONTHS) WAL (MONTHS)
- - ------------------------------------------------------------------- ------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
<CAPTION>
50% CPR
-------
WINDOW
WAL (MONTHS)
------------------
<S> <C> <C>
</TABLE>
Additional information is available upon request. Information herein is
believed to be reliable but J.P. Morgan does not warrant its completeness or
accuracy. These materials are subject to change from time to time without
notice. Past performance is not indicative of future results. Any description
of the collateral contained herein supersedes any previous collateral
information and will be superseded by the final prospectus relating to the
securities. These materials are not intended as an offer or solicitation with
respect to the purchase or sale of any security, and have been provided to you
for informational purposes only and may not be relied upon by you in evaluating
the merits of investing in the securities. Any investment decision with
respect to the securities should be made by you based solely upon the
information contained in the final prospectus relating to the securities. No
assurance or representation can be made as to the actual rate or timing of
principal payments or prepayments on any of the collateral or the performance
characteristics of the securities. This information was prepared in reliance on
information regarding the collateral furnished by the seller of the collateral.
J.P. Morgan may hold a position or act as market maker in the financial
instruments of any issuer discussed herein or act as advisor or lender to such
issuer. J.P. Morgan Securities Inc. is a member of SIPC and SFA. Copyright
1997 J.P. Morgan & Co. Incorporated.
<PAGE>
<TABLE>
- - --------------------------------------------------------------- --------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CLASS A-5 20.09 1 - 354 7.48 1 - 336 3.94 1 - 241 2.97 1 -187 2.52 1 - 160 1.77 1 -113 1.30 1 -84
(354) (336) (241) (187) (160) (113) (84)
- - --------------------------------------------------------------- --------------------------------------------------
</TABLE>
TFC HOME EQUITY LOAN TRUST 1997-1 COLLATERAL TABLES
---------------------------------------------------
POOL 1
------
PORTFOLIO BY REMAINING TERM
<TABLE>
<CAPTION>
- - -----------------------------------------------------------------------------------------------------
REMAINING TERM NUMBER OF PERCENT OF CURRENT
(MONTHS) LOANS CURRENT BALANCE BALANCE
- - -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1 - 60 347 2,554,751.04 4.53 %
61 - 120 509 7,374,401.53 13.07 %
121 - 180 673 20,058,072.89 35.55 %
181 - 240 214 9,768,175.26 17.31 %
241 - 300 17 1,185,903.53 2.10 %
301 - 360 248 15,479,232.76 27.44 %
- - -----------------------------------------------------------------------------------------------------
2,008 56,420,537.01 100.00 %
- - -----------------------------------------------------------------------------------------------------
</TABLE>
PORTFOLIO BY COUPON
<TABLE>
<CAPTION>
- - -----------------------------------------------------------------------------------------------------
NUMBER OF PERCENT OF CURRENT
COUPON RANGE LOANS CURRENT BALANCE BALANCE
- - -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
8.01% - 9.00% 61 1,028,132.56 1.82 %
9.01% - 10.00% 287 4,814,531.28 8.53 %
10.01% - 11.00% 506 13,612,186.28 24.13 %
11.01% - 12.00% 554 17,046,185.02 30.21 %
12.01% - 13.00% 480 16,232,518.59 28.77 %
13.01% - 14.00% 99 3,074,391.04 5.45 %
14.01% - 15.00% 18 494,886.29 0.88 %
15.01% 16.00% 3 117,705.95 0.21 %
- - ----------------------------------------------------------------------------------------------------
2,008 56,420,537.01 100.00 %
- - ----------------------------------------------------------------------------------------------------
</TABLE>
PORTFOLIO BY CURRENT BALANCE
<TABLE>
<CAPTION>
- - -----------------------------------------------------------------------------------------------------
NUMBER OF PERCENT OF CURRENT
CURRENT BALANCE RANGE LOANS CURRENT BALANCE BALANCE
- - -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1 - 25,000 1,178 14,374,915.27 25.48 %
25,001 - 50,000 549 19,581,334.42 34.71 %
50,001 - 75,000 181 10,851,951.93 19.23 %
75,001 - 100,000 53 4,596,394.87 8.15 %
100,001 - 125,000 19 2,163,350.67 3.83 %
125,001 - 150,000 16 2,116,431.96 3.75 %
150,001 - 175,000 4 630,636.47 1.12 %
175,001 - 200,000 2 385,292.67 0.68 %
200,001 - 225,000 4 826,269.46 1.46 %
300,001 - 325,000 1 308,464.48 0.55 %
575,001 - 600,000 1 585,494.81 1.04 %
- - ------------------------------------------------------------------------------------------------------------
2,008 56,420,537.01 100.00 %
- - ------------------------------------------------------------------------------------------------------------
</TABLE>
Additional information is available upon request. Information herein is believed
to be reliable but J.P. Morgan does not warrant its completeness or accuracy.
These materials are subject to change from time to time without notice. Past
performance is not indicative of future results. Any description of the
collateral contained herein supersedes any previous collateral information and
will be superseded by the final prospectus relating to the securities. These
materials are not intended as an offer or solicitation with respect to the
purchase or sale of any security, and have been provided to you for
informational purposes only and may not be relied upon by you in evaluating the
merits of investing in the securities. Any investment decision with respect to
the securities should be made by you based solely upon the information contained
in the final prospectus relating to the securities. No assurance or
representation can be made as to the actual rate or timing of principal payments
or prepayments on any of the collateral or the performance characteristics of
the securities. This information was prepared in reliance on information
regarding the collateral furnished by the seller of the collateral. J.P. Morgan
may hold a position or act as market maker in the financial instruments of any
issuer discussed herein or act as advisor or lender to such issuer. J.P. Morgan
Securities Inc. is a member of SIPC and SFA. Copyright 1997 J.P. Morgan & Co.
Incorporated.
<PAGE>
TFC HOME EQUITY LOAN TRUST 1997-1 COLLATERAL TABLES (POOL 1)
------------------------------------------------------------
<TABLE>
<CAPTION>
PORTFOLIO BY PROPERTY STATE
- - --------------------------------------------------------------------------------------------------------
NUMBER OF PERCENT OF CURRENT
PROPERTY STATE LOANS CURRENT BALANCE BALANCE
- - --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Alabama 7 317,628.94 0.56%
Arizona 28 1,474,250.37 2.61%
Arkansas 5 187,155.72 0.33%
California 13 1,078,857.05 1.91%
Colorado 2 92,629.88 0.16%
Florida 1,635 35,909,302.24 63.65%
Georgia 1 84,764.70 0.15%
Idaho 1 78,017.54 0.14%
Illinois 5 845,918.25 1.50%
Indiana 12 486,642.86 0.86%
Iowa 2 109,328.35 0.19%
Kentucky 10 437,252.89 0.77%
Louisiana 24 1,217,945.56 2.16%
Maryland 4 359,919.42 0.64%
Massachusetts 1 198,253.62 0.35%
Michigan 23 1,158,314.73 2.05%
Minnesota 11 558,979.44 0.99%
Mississippi 7 236,448.36 0.42%
Missouri 12 443,141.70 0.79%
Montana 1 79,666.31 0.14%
Nevada 1 38,943.52 0.07%
New Hampshire 2 55,745.47 0.10%
New Jersey 6 301,273.87 0.53%
New Mexico 1 49,980.66 0.09%
New York 7 290,808.58 0.52%
North Carolina 34 1,242,164.57 2.20%
North Dakota 1 18,620.20 0.03%
Ohio 53 2,904,201.99 5.15%
Oklahoma 15 841,350.21 1.49%
Oregon 1 132,575.46 0.23%
Pennsylvania 7 429,698.30 0.76%
South Carolina 9 486,565.94 0.86%
South Dakota 1 46,827.06 0.08%
Tennessee 15 604,417.31 1.07%
Texas 41 2,597,567.82 4.60%
Utah 1 36,141.18 0.06%
Virginia 5 575,888.34 1.02%
Washington 3 367,338.49 0.65%
West Virginia 1 46,010.11 0.08%
- - --------------------------------------------------------------------------------------------------------
2,008 56,420,537.01 100.00%
- - --------------------------------------------------------------------------------------------------------
</TABLE>
PORTFOLIO BY OCCUPANCY TYPE
Additional information is available upon request. Information herein is believed
to be reliable but J.P. Morgan does not warrant its completeness or accuracy.
These materials are subject to change from time to time without notice. Past
performance is not indicative of future results. Any description of the
collateral contained herein supersedes any previous collateral information and
will be superseded by the final prospectus relating to the securities. These
materials are not intended as an offer or solicitation with respect to the
purchase or sale of any security, and have been provided to you for
informational purposes only and may not be relied upon by you in evaluating the
merits of investing in the securities. Any investment decision with respect to
the securities should be made by you based solely upon the information contained
in the final prospectus relating to the securities. No assurance or
representation can be made as to the actual rate or timing of principal payments
or prepayments on any of the collateral or the performance characteristics of
the securities. This information was prepared in reliance on information
regarding the collateral furnished by the seller of the collateral. J.P. Morgan
may hold a position or act as market maker in the financial instruments of any
issuer discussed herein or act as advisor or lender to such issuer. J.P. Morgan
Securities Inc. is a member of SIPC and SFA. Copyright 1997 J.P. Morgan & Co.
Incorporated.
<PAGE>
<TABLE>
<CAPTION>
- - -----------------------------------------------------------------------------------------------------
PERCENT OF CURRENT
OCCUPANCY NUMBER OF LOANS CURRENT BALANCE BALANCE
- - -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Mortgager 1,884 52,351,409.63 92.79 %
Tenant 116 3,706,173.51 6.57 %
Unknown 8 362,953.87 0.64 %
- - -----------------------------------------------------------------------------------------------------
2,008 56,420,537.01 100.00 %
- - -----------------------------------------------------------------------------------------------------
</TABLE>
TFC HOME EQUITY LOAN TRUST 1997-1 COLLATERAL TABLES (POOL 1)
------------------------------------------------------------
PORTFOLIO BY SR. MRG. LTV
<TABLE>
<CAPTION>
- - -----------------------------------------------------------------------------------------------------
NUMBER OF PERCENT OF CURRENT
SR. MRG. LTV LOANS CURRENT BALANCE BALANCE
- - -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
0.01% - 10.00% 265 2,019,322.64 3.58 %
10.01% - 20.00% 428 5,249,744.98 9.30 %
20.01% - 30.00% 297 5,534,009.48 9.81 %
30.01% - 40.00% 219 5,349,415.22 9.48 %
40.01% - 50.00% 179 5,534,364.31 9.81 %
50.01% - 60.00% 171 6,808,217.57 12.07 %
60.01% - 70.00% 164 8,997,670.86 15.95 %
70.01% - 80.00% 183 10,374,409.23 18.39 %
80.01% - 90.00% 96 6,336,052.89 11.23 %
90.01% - 100.00% 6 217,329.83 0.39 %
- - -----------------------------------------------------------------------------------------------------
2,008 56,420,537.01 100.00 %
- - -----------------------------------------------------------------------------------------------------
</TABLE>
PORTFOLIO BY COMBINED LTV
<TABLE>
<CAPTION>
- - -----------------------------------------------------------------------------------------------------
NUMBER OF PERCENT OF CURRENT
COMBINED LTV LOANS CURRENT BALANCE BALANCE
- - -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
0.01% - 10.00% 23 164,952.71 0.29 %
10.01% - 20.00% 95 1,014,939.05 1.80 %
20.01% - 30.00% 215 2,868,843.45 5.08 %
30.01% - 40.00% 234 4,256,000.46 7.54 %
40.01% - 50.00% 272 6,371,844.73 11.29 %
50.01% - 60.00% 375 9,731,382.58 17.25 %
60.01% - 70.00% 363 12,374,573.14 21.93 %
70.01% - 80.00% 267 11,755,194.45 20.83 %
80.01% - 90.00% 142 7,376,214.90 13.07 %
90.01% - 100.00% 22 506,591.54 0.90 %
- - -----------------------------------------------------------------------------------------------------
2,008 56,420,537.01 100.00 %
- - -----------------------------------------------------------------------------------------------------
</TABLE>
PORTFOLIO BY PROPERTY TYPE
<TABLE>
<CAPTION>
- - -----------------------------------------------------------------------------------------------------
PERCENT OF CURRENT
PROPERTY TYPE NUMBER OF LOANS CURRENT BALANCE BALANCE
- - -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Single Family 1,966 53,975,763.29 95.67 %
Manufactured Housing 12 556,330.43 0.99 %
2-4 Family 12 697,869.41 1.24 %
Planned Urban Dev. 7 786,792.62 1.39 %
Condominium 5 188,626.17 0.33 %
Other 1 14,183.25 0.03 %
- - -----------------------------------------------------------------------------------------------------
2,008 56,420,537.01 100.00 %
- - -----------------------------------------------------------------------------------------------------
</TABLE>
Additional information is available upon request. Information herein is believed
to be reliable but J.P. Morgan does not warrant its completeness or accuracy.
These materials are subject to change from time to time without notice. Past
performance is not indicative of future results. Any description of the
collateral contained herein supersedes any previous collateral information and
will be superseded by the final prospectus relating to the securities. These
materials are not intended as an offer or solicitation with respect to the
purchase or sale of any security, and have been provided to you for
informational purposes only and may not be relied upon by you in evaluating the
merits of investing in the securities. Any investment decision with respect to
the securities should be made by you based solely upon the information contained
in the final prospectus relating to the securities. No assurance or
representation can be made as to the actual rate or timing of principal payments
or prepayments on any of the collateral or the performance characteristics of
the securities. This information was prepared in reliance on information
regarding the collateral furnished by the seller of the collateral. J.P. Morgan
may hold a position or act as market maker in the financial instruments of any
issuer discussed herein or act as advisor or lender to such issuer. J.P. Morgan
Securities Inc. is a member of SIPC and SFA. Copyright 1997 J.P. Morgan & Co.
Incorporated.
<PAGE>
PORTFOLIO BY LIEN POSITION
<TABLE>
<CAPTION>
- - ----------------------------------------------------------------------------------------------
PERCENT OF CURRENT
LIEN POSITION NUMBER OF LOANS CURRENT BALANCE BALANCE
- - ----------------------------------------------------------------------------------------------
<S> <C> <C> <C>
First 1,170 44,026,743.29 78.03%
Second 798 12,127,189.11 21.49%
Third 40 266,604.61 0.47%
- - ----------------------------------------------------------------------------------------------
2,008 56,420,537.01 100.00%
- - ----------------------------------------------------------------------------------------------
</TABLE>
TFC HOME EQUITY LOAN TRUST 1997-1 COLLATERAL TABLES
---------------------------------------------------
POOL 2
------
PORTFOLIO BY REMAINING TERM
<TABLE>
<CAPTION>
- - ----------------------------------------------------------------------------------------------
REMAINING TERM PERCENT OF CURRENT
(MONTHS) NUMBER OF LOANS CURRENT BALANCE BALANCE
- - ----------------------------------------------------------------------------------------------
<S> <C> <C> <C>
61 - 120 1 5,756.43 0.01%
121 - 180 1 42,000.00 0.04%
181 - 240 9 463,080.71 0.41%
241 - 300 4 726,340.92 0.64%
301 - 360 1,130 111,473,629.02 98.90%
- - ----------------------------------------------------------------------------------------------
1,145 112,710,807.08 100.00%
- - ----------------------------------------------------------------------------------------------
</TABLE>
PORTFOLIO BY LIEN POSITION
<TABLE>
<CAPTION>
- - ----------------------------------------------------------------------------------------------
PERCENT OF CURRENT
LIEN POSITION NUMBER OF LOANS CURRENT BALANCE BALANCE
- - ----------------------------------------------------------------------------------------------
<S> <C> <C> <C>
First 1,144 112,668,807.08 99.96%
Second 1 42,000.00 0.04%
- - ----------------------------------------------------------------------------------------------
1,145 112,710,807.08 100.00%
- - ----------------------------------------------------------------------------------------------
</TABLE>
PORTFOLIO BY OCCUPANCY TYPE
<TABLE>
<CAPTION>
- - ----------------------------------------------------------------------------------------------
PERCENT OF CURRENT
OCCUPANCY NUMBER OF LOANS CURRENT BALANCE BALANCE
- - ----------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Mortgagor 1,103 107,837,261.30 95.68%
Tenant 34 3,830,290.03 3.40%
Unknown 8 1,043,255.75 0.93%
- - ----------------------------------------------------------------------------------------------
1,145 112,710,807.08 100.00%
- - ----------------------------------------------------------------------------------------------
</TABLE>
Additional information is available upon request. Information herein is
believed to be reliable but J.P. Morgan does not warrant its completeness or
accuracy. These materials are subject to change from time to time without
notice. Past performance is not indicative of future results. Any description
of the collateral contained herein supersedes any previous collateral
information and will be superseded by the final prospectus relating to the
securities. These materials are not intended as an offer or solicitation with
respect to the purchase or sale of any security, and have been provided to you
for informational purposes only and may not be relied upon by you in evaluating
the merits of investing in the securities. Any investment decision with
respect to the securities should be made by you based solely upon the
information contained in the final prospectus relating to the securities. No
assurance or representation can be made as to the actual rate or timing of
principal payments or prepayments on any of the collateral or the performance
characteristics of the securities. This information was prepared in reliance on
information regarding the collateral furnished by the seller of the collateral.
J.P. Morgan may hold a position or act as market maker in the financial
instruments of any issuer discussed herein or act as advisor or lender to such
issuer. J.P. Morgan Securities Inc. is a member of SIPC and SFA. Copyright
1997 J.P. Morgan & Co. Incorporated.
<PAGE>
TFC HOME EQUITY LOAN TRUST 1997-1 COLLATERAL (POOL 2)
-----------------------------------------------------
<TABLE>
<CAPTION>
PORTFOLIO BY PROPERTY STATE
- - ---------------------------------------------------------------------------------------------------------
NUMBER PERCENT OF CURRENT
PROPERTY STATE OF LOANS CURRENT BALANCE BALANCE
- - ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Arizona 26 2,354,331.87 2.09%
Arkansas 4 457,064.70 0.41%
California 45 6,741,851.60 5.98%
Colorado 5 576,961.16 0.51%
Connecticut 7 949,148.40 0.84%
Delaware 1 35,986.45 0.03%
District of Columbia 9 947,998.52 0.84%
Florida 73 7,957,415.18 7.06%
Georgia 5 519,450.24 0.46%
Hawaii 1 403,342.36 0.36%
Idaho 6 517,563.87 0.46%
Illinois 42 4,994,226.16 4.43%
Indiana 15 1,135,864.06 1.01%
Iowa 3 201,486.71 0.18%
Kansas 9 503,933.46 0.45%
Kentucky 9 716,120.11 0.64%
Louisiana 16 1,105,724.02 0.98%
Maine 4 257,646.45 0.23%
Maryland 55 8,395,161.21 7.45%
Massachusetts 45 5,576,697.04 4.95%
Michigan 302 26,576,270.23 23.58%
Minnesota 12 779,984.47 0.69%
Mississippi 3 302,103.64 0.27%
Missouri 34 2,388,019.85 2.12%
Nebraska 1 139,768.40 0.12%
Nevada 5 500,511.93 0.44%
New Hampshire 2 200,590.23 0.18%
New Jersey 4 752,674.67 0.67%
New Mexico 1 99,906.32 0.09%
New York 2 310,026.34 0.28%
North Carolina 11 1,330,812.50 1.18%
North Dakota 4 333,845.16 0.30%
Ohio 128 9,486,465.42 8.42%
</TABLE>
Additional information is available upon request. Information herein is believed
to be reliable but J.P. Morgan does not warrant its completeness or accuracy.
These materials are subject to change from time to time without notice. Past
performance is not indicative of future results. Any description of the
collateral contained herein supersedes any previous collateral information and
will be superseded by the final prospectus relating to the securities. These
materials are not intended as an offer or solicitation with respect to the
purchase or sale of any security, and have been provided to you for
informational purposes only and may not be relied upon by you in evaluating the
merits of investing in the securities. Any investment decision with respect to
the securities should be made by you based solely upon the information contained
in the final prospectus relating to the securities. No assurance or
representation can be made as to the actual rate or timing of principal payments
or prepayments on any of the collateral or the performance characteristics of
the securities. This information was prepared in reliance on information
regarding the collateral furnished by the seller of the collateral. J.P. Morgan
may hold a position or act as market maker in the financial instruments of any
issuer discussed herein or act as advisor or lender to such issuer. J.P. Morgan
Securities Inc. is a member of SIPC and SFA. Copyright 1997 J.P. Morgan & Co.
Incorporated.
<PAGE>
<TABLE>
<S> <C> <C> <C>
Oklahoma 27 1,622,304.07 1.44%
Oregon 7 666,857.30 0.59%
Pennsylvania 6 330,853.20 0.29%
South Carolina 2 220,174.10 0.20%
South Dakota 9 893,639.85 0.79%
Tennessee 10 914,180.90 0.81%
Texas 135 13,310,571.22 11.81%
Utah 21 1,867,883.64 1.66%
Virginia 21 3,514,530.68 3.12%
Washington 11 1,291,682.90 1.15%
West Virginia 3 185,034.65 0.16%
Wisconsin 4 344,141.84 0.31%
- - ---------------------------------------------------------------------------------------------------------
1,145 112,710,807.08 100.00%
- - ---------------------------------------------------------------------------------------------------------
</TABLE>
TFC HOME EQUITY LOAN TRUST 1997-1 COLLATERAL (POOL 2)
-----------------------------------------------------
PORTFOLIO BY COMBINED LTV
<TABLE>
<CAPTION>
- - ---------------------------------------------------------------------------------------------------------
NUMBER OF PERCENT OF CURRENT
COMBINED LTV LOANS CURRENT BALANCE BALANCE
- - ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
20.01% - 30.00% 4 401,732.53 0.36%
30.01% - 40.00% 8 341,759.63 0.30%
40.01% - 50.00% 14 736,144.08 0.65%
50.01% - 60.00% 49 5,013,341.80 4.45%
60.01% - 70.00% 118 10,368,286.58 9.20%
70.01% - 80.00% 536 51,202,215.27 45.43%
80.01% - 90.00% 413 43,973,721.70 39.01%
90.01% - 100.00% 3 673,605.49 0.60%
- - ---------------------------------------------------------------------------------------------------------
1,145 112,710,807.08 100.00 %
- - ---------------------------------------------------------------------------------------------------------
</TABLE>
PORTFOLIO BY ST. MTG. LTV
<TABLE>
<CAPTION>
- - ---------------------------------------------------------------------------------------------------------
NUMBER OF PERCENT OF CURRENT
SR. MTG. LTV LOANS CURRENT BALANCE BALANCE
- - ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
10.01% - 20.00% 1 42,000.00 0.04%
20.01% - 30.00% 4 401,732.53 0.36%
30.01% - 40.00% 8 341,759.63 0.30%
40.01% - 50.00% 14 736,144.08 0.65%
50.01% - 60.00% 49 5,013,341.80 4.45%
60.01% - 70.00% 118 10,368,286.58 9.20%
70.01% - 80.00% 535 51,160,215.27 45.39%
80.01% - 90.00% 413 43,973,721.70 39.01%
90.01% - 100.00% 3 673,605.49 0.60%
- - ---------------------------------------------------------------------------------------------------------
1,145 112,710,807.08 100.00%
- - ---------------------------------------------------------------------------------------------------------
</TABLE>
PORTFOLIO BY PROPERTY TYPE
<TABLE>
<CAPTION>
- - ---------------------------------------------------------------------------------------------------------
NUMBER OF PERCENT OF CURRENT
PROPERTY TYPE LOANS CURRENT BALANCE BALANCE
- - ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Single family 1,025 99,927,280.76 88.66%
Condominium 31 3,895,964.35 3.46%
Manufactured 34 2,479,296.45 2.20%
2-4 Family 10 1,374,869.10 1.22%
</TABLE>
Additional information is available upon request. Information herein is believed
to be reliable but J.P. Morgan does not warrant its completeness or accuracy.
These materials are subject to change from time to time without notice. Past
performance is not indicative of future results. Any description of the
collateral contained herein supersedes any previous collateral information and
will be superseded by the final prospectus relating to the securities. These
materials are not intended as an offer or solicitation with respect to the
purchase or sale of any security, and have been provided to you for
informational purposes only and may not be relied upon by you in evaluating the
merits of investing in the securities. Any investment decision with respect to
the securities should be made by you based solely upon the information contained
in the final prospectus relating to the securities. No assurance or
representation can be made as to the actual rate or timing of principal payments
or prepayments on any of the collateral or the performance characteristics of
the securities. This information was prepared in reliance on information
regarding the collateral furnished by the seller of the collateral. J.P. Morgan
may hold a position or act as market maker in the financial instruments of any
issuer discussed herein or act as advisor or lender to such issuer. J.P. Morgan
Securities Inc. is a member of SIPC and SFA. Copyright 1997 J.P. Morgan & Co.
Incorporated.
<PAGE>
<TABLE>
<S> <C> <C> <C>
Planned Urban Dev. 33 4,211,225.12 3.74%
Row house 2 102,554.07 0.09%
Townhouse 8 620,456.89 0.55%
Mobile Home 2 99,160.34 0.09%
- - -----------------------------------------------------------------------------
1,145 112,710,807.08 100.00%
- - -----------------------------------------------------------------------------
</TABLE>
TFC HOME EQUITY LOAN TRUST 1997-1 COLLATERAL (POOL 2)
-----------------------------------------------------
PORTFOLIO BY COUPON
<TABLE>
<CAPTION>
NUMBER OF PERCENT OF
COUPON RANGE LOANS CURRENT BALANCE CURRENT BALANCE
- - ------------------------------------------------------------------------
<S> <C> <C> <C>
6.01% - 7.00% 1 85,115.97 0.08%
7.01% - 8.00% 13 1,402,667.25 1.24%
8.01% - 9.00% 205 22,269,492.11 19.76%
9.01% - 10.00% 453 46,241,643.64 41.03%
10.01% - 11.00% 280 25,232,361.58 22.39%
11.01% - 12.00% 161 13,672,216.08 12.13%
12.01% - 13.00% 20 1,353,146.81 1.20%
13.01% - 14.00% 12 2,454,163.64 2.18%
- - ------------------------------------------------------------------------
1,145 112,710,807.08 100.00%
- - ------------------------------------------------------------------------
</TABLE>
PORTFOLIO BY CURRENT BALANCE
<TABLE>
<CAPTION>
NUMBER OF PERCENT OF
CURRENT BALANCE RANGE LOANS CURRENT BALANCE CURRENT BALANCE
- - ---------------------------------------------------------------------------
<S> <C> <C> <C>
$1 - 25,000 11 197,046.28 0.17%
$25,001 - 50,000 180 7,130,696.30 6.33%
$50,001 - 75,000 293 18,259,068.60 16.20%
$75,001 - 100,000 239 20,914,931.16 18.56%
$100,001 - 125,000 163 18,140,332.33 16.09%
$125,001 - 150,000 95 12,987,992.67 11.52%
$150,001 - 175,000 62 10,046,375.41 8.91%
$175,001 - 200,000 33 6,181,749.64 5.48%
$200,001 - 225,000 19 4,074,166.50 3.61%
$225,001 - 250,000 16 3,835,318.44 3.40%
$250,001 - 275,000 10 2,607,282.43 2.31%
$275,001 - 300,000 8 2,270,523.96 2.01%
$300,001 - 325,000 5 1,537,426.21 1.36%
$325,001 - 350,000 5 1,713,982.24 1.52%
$375,001 - 400,000 2 767,079.94 0.68%
$400,001 - 425,000 1 403,342.36 0.36%
</TABLE>
Additional information is available upon request. Information herein is believed
to be reliable but J.P. Morgan does not warrant its completeness or accuracy.
These materials are subject to change from time to time without notice. Past
performance is not indicative of future results. Any description of the
collateral contained herein supersedes any previous collateral information and
will be superseded by the final prospectus relating to the securities. These
materials are not intended as an offer or solicitation with respect to the
purchase or sale of any security, and have been provided to you for
informational purposes only and may not be relied upon by you in evaluating the
merits of investing in the securities. Any investment decision with respect to
the securities should be made by you based solely upon the information contained
in the final prospectus relating to the securities. No assurance or
representation can be made as to the actual rate or timing of principal payments
or prepayments on any of the collateral or the performance characteristics of
the securities. This information was prepared in reliance on information
regarding the collateral furnished by the seller of the collateral. J.P. Morgan
may hold a position or act as market maker in the financial instruments of any
issuer discussed herein or act as advisor or lender to such issuer. J.P. Morgan
Securities Inc. is a member of SIPC and SFA. Copyright 1997 J.P. Morgan & Co.
Incorporated.
<PAGE>
<TABLE>
<S> <C> <C> <C>
$425,001 - 450,000 1 433,834.49 0.38%
$575,001 - 600,000 1 595,195.65 0.53%
$600,001 - 625,000 1 614,462.47 0.55%
- - -----------------------------------------------------------------------
1,145 112,710,807.08 100.00%
- - -----------------------------------------------------------------------
</TABLE>
PORTFOLIO BY ARM INDEX
<TABLE>
<CAPTION>
NUMBER OF PERCENT OF
ARM INDEX LOANS CURRENT BALANCE CURRENT BALANCE
- - ------------------------------------------------------------------------
<S> <C> <C> <C>
1 Year CMT 764 76,756,409.92 68.10%
2 Year CMT 252 22,116,545.67 19.62%
5 Year CMT 1 98,134.11 0.09%
6 Month LIBOR 125 13,575,290.84 12.04%
6 Month TBill 3 164,426.54 0.15%
- - ------------------------------------------------------------------------
1,145 112,710,807.08 100.00%
- - ------------------------------------------------------------------------
</TABLE>
TFC HOME EQUITY LOAN TRUST 1997-1 COLLATERAL (POOL 2)
-----------------------------------------------------
PORTFOLIO BY LIFE CAP
<TABLE>
<CAPTION>
NUMBER OF PERCENT OF
LIFE CAP LOANS CURRENT BALANCE CURRENT BALANCE
- - ------------------------------------------------------------------------
<S> <C> <C> <C>
11.01% - 12.00% 2 782,895.01 0.69%
12.01% - 13.00% 4 558,109.74 0.50%
13.01% - 14.00% 13 1,363,668.26 1.21%
14.01% - 15.00% 212 22,606,102.82 20.06%
15.01% - 16.00% 502 50,956,125.93 45.21%
16.01% - 17.00% 261 23,195,138.97 20.58%
17.01% - 18.00% 117 9,549,995.43 8.47%
18.01% - 19.00% 21 1,194,699.09 1.06%
19.01% - 20.00% 13 2,504,071.83 2.22%
- - ------------------------------------------------------------------------
1,145 112,710,807.08 100.00%
- - ------------------------------------------------------------------------
</TABLE>
PORTFOLIO BY LIFE FLOOR
<TABLE>
<CAPTION>
NUMBER OF PERCENT OF
LIFE FLOOR LOANS CURRENT BALANCE CURRENT BALANCE
- - ------------------------------------------------------------------------
<S> <C> <C> <C>
4.01% - 5.00% 1 85,094.28 0.08%
5.01% - 6.00% 6 1,272,177.31 1.13%
6.01% - 7.00% 11 1,046,887.39 0.93%
7.01% - 8.00% 30 2,968,075.98 2.63%
8.01% - 9.00% 234 24,994,440.86 22.18%
9.01% - 10.00% 498 50,872,751.34 45.14%
10.01% - 11.00% 235 20,096,269.35 17.83%
11.01% - 12.00% 104 8,154,385.77 7.23%
12.01% - 13.00% 14 766,561.16 0.68%
13.01% - 14.00% 12 2,454,163.64 2.18%
- - ------------------------------------------------------------------------
1,145 112,710,807.08 100.00%
- - ------------------------------------------------------------------------
</TABLE>
Additional information is available upon request. Information herein is believed
to be reliable but J.P. Morgan does not warrant its completeness or accuracy.
These materials are subject to change from time to time without notice. Past
performance is not indicative of future results. Any description of the
collateral contained herein supersedes any previous collateral information and
will be superseded by the final prospectus relating to the securities. These
materials are not intended as an offer or solicitation with respect to the
purchase or sale of any security, and have been provided to you for
informational purposes only and may not be relied upon by you in evaluating the
merits of investing in the securities. Any investment decision with respect to
the securities should be made by you based solely upon the information contained
in the final prospectus relating to the securities. No assurance or
representation can be made as to the actual rate or timing of principal payments
or prepayments on any of the collateral or the performance characteristics of
the securities. This information was prepared in reliance on information
regarding the collateral furnished by the seller of the collateral. J.P. Morgan
may hold a position or act as market maker in the financial instruments of any
issuer discussed herein or act as advisor or lender to such issuer. J.P. Morgan
Securities Inc. is a member of SIPC and SFA. Copyright 1997 J.P. Morgan & Co.
Incorporated.
<PAGE>
PORTFOLIO BY ARM MARGIN
<TABLE>
<CAPTION>
- - ---------------------------------------------------------------------------------------------------------------
NUMBER OF PERCENT OF
ARM MARGIN LOANS CURRENT BALANCE CURRENT BALANCE
- - ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
0% - 0% 3 164,426.54 0.15%
2.01% - 3.00% 11 1,558,023.71 1.38%
3.01% - 4.00% 151 15,109,985.77 13.41%
4.01% - 5.00% 456 45,503,063.36 40.37%
5.01% - 6.00% 497 47,206,977.98 41.88%
6.01% - 7.00% 15 1,187,785.53 1.05%
7.01% - 8.00% 9 1,593,420.61 1.41%
8.01% - 9.00% 2 347,167.92 0.31%
9.01% - 10.00% 1 39,955.66 0.04%
- - -----------------------------------------------------------------------------------------------------------------
1,145 112,710,807.08 100.00%
- - -----------------------------------------------------------------------------------------------------------------
</TABLE>
Additional information is available upon request. Information herein is believed
to be reliable but J.P. Morgan does not warrant its completeness or accuracy.
These materials are subject to change from time to time without notice. Past
performance is not indicative of future results. Any description of the
collateral contained herein supersedes any previous collateral information and
will be superseded by the final prospectus relating to the securities. These
materials are not intended as an offer or solicitation with respect to the
purchase or sale of any security, and have been provided to you for
informational purposes only and may not be relied upon by you in evaluating the
merits of investing in the securities. Any investment decision with respect to
the securities should be made by you based solely upon the information contained
in the final prospectus relating to the securities. No assurance or
representation can be made as to the actual rate or timing of principal payments
or prepayments on any of the collateral or the performance characteristics of
the securities. This information was prepared in reliance on information
regarding the collateral furnished by the seller of the collateral. J.P. Morgan
may hold a position or act as market maker in the financial instruments of any
issuer discussed herein or act as advisor or lender to such issuer. J.P. Morgan
Securities Inc. is a member of SIPC and SFA. Copyright 1997 J.P. Morgan & Co.
Incorporated.
