SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Seciton 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event
reported) October 27, 1997
J.P. Morgan Commercial Mortgage Finance Corp.
(Exact Name of Registrant as specified in Charter)
Delaware 333-4554 13-3789046
(State or Other (Commission (I.R.S. Employer
Jurisdiction File Number) Identification No.)
of Incorporation)
60 Wall Street
New York, New York 10260
(address of Principal Executive
Offices and Zip Code)
Registrant s telephone number, Including area code (212) 643-3238
ITEM 5. OTHER EVENTS
This Current Report on Form 8-K relates to the Trust Fund
formed, and the Mortgage Pass-Through Certificates Series 1997-SPTL-C1
issued pursuant to, a Pooling and Servicing Agreement, dated as of June
1, 1997 (the "Pooling and Servicing Agreement"), by and among J.P.Morgan
Commercial Mortgage Finance Corp., as sponsor, Midland Loan Services
L.P. , as master servicer and special servicer, LaSalle National Bank,
as trustee and REMIC administrator, and ABN AMRO Bank, N.V., as fiscal
agent. The Class A-1, Class A-2, Class B, Class C, and Class D
Certificates have been registered pursuant to the Act under a
Registration Statement on Form S-3 (File No.333-24489) (the
"Registration Statement").
Capitalized terms used herein and not defined herein have
the same meanings ascribed to such terms in the Pooling and Servicing
Agreement.
Pursuant to Section 8.14 of the Pooling and Servicing
Agreement, the Trustee is filing this Current Report containing the
October 27, 1997 monthly distribution report prepared by the Trustee
pursuant to Section 4.02 thereof.
This Current Report is being filed by the Trustee, in its
capacity as such under the Pooling and Servicing Agreement, on behalf of
the Registrant. The information reported and contained herein has been
supplied to the Trustee by one or more of the Master Servicer, the
Special Servicer or other third parties without independent review or
investigation by the Trustee. Pursuant to the Pooling and Servicing
Agreement, the Trustee is not responsible for the accuracy or
completeness of such information.
Item 5. Other Events
Filing of Collateral Term Sheets.
In connection with the proposed offering of J.P. Morgan Commercial
Mortgage Finance Corp. (the "Company") Mortgage Pass-Through
Certificates, ser5ies 1997-C4, J/P. Morgan Securities Inc.
(the "Underwriter"), has prepared certain materials (the "collateral
term Sheets") for distribution to its potential investors. Although the
company provided the Underwriter with certain information regarding the
characteristics of the mortgage loans in the related portfolio. It did
not participate in the preparation of the Collateral Term Sheets.
The Collateral Term Sheets are attached hereto as Exhibit 99.
These collateral Term Sheets supersede any prior collateral information
which may have been previously filed with the Securities and Exchange
Commission.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS
(a) Not applicable.
(b) Not applicable.
(c) Exhibits.
The following is filed herewith. The exhibit number corresponds
with Item 601(b) of Regulation 8-K.
Exhibit No. Description
99 Monthly distribution report pursuant to
Section 4.2 of the Pooling and Servicing
Agreement for the distribution on October
27, 1997
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on behalf of the
Registrant by the undersigned thereunto duly authorized.
LASALLE NATIONAL BANK, IN
ITS CAPACITY AS TRUSTEE
UNDER THE POOLING AND
SERVICING AGREEMENT ON
BEHALF OF J.P. MORGAN COMMERCIAL
MORTGAGE FINANCE CORP.,
REGISTRANT
By: /s Russell Goldenberg
Russell Goldenberg,
Senior Vice President
Date: October 28, 1997
ABN AMRO
LaSalle National Bank
Administrator:
Eric Lindahl (800) 246-5761
135 S. LaSalle Street Suite 1740
Chicago, IL 60603
JP Morgan Commercial Mortgage Finance Corp.
Midland Loan Services L.P. as Master Servicer and Special Servicer
Commercial Mortgage Pass-Through Certificates
Series 1997-SPTL-C1
ABN AMRO Acct: 67-7775-30-6
Statement Date: 10/27/97
Payment Date: 10/27/97
Prior Payment: 09/25/97
Record Date: 09/30/97
WAC: 9.532803%
WAMM: 337
Number Of Pages
Table Of Contents 1
REMIC Certificate Report 3
Other Related Information 2
Asset Backed Facts Sheets 1
Delinquency Loan Detail
Mortgage Loan Characteristics 12
Total Pages Included In This Package 19
Specially Serviced Loan Detail Appendix A
Modified Loan Detail Appendix B
Realized Loss Detail Appendix C
REMIC III
Original Opening
Class Face Value (1) Balance
CUSIP Per $1,000 Per $1,000
A-1 81,230,000.00 76,482,488.20
617059CN8 1000.000000000 941.554699003
A-2 60,922,000.00 60,922,000.00
617059CP3 1000.000000000 1000.000000000
B 10,153,000.00 10,153,000.00
617059CQ1 1000.000000000 1000.000000000
C 12,184,000.00 12,184,000.00
617059CR9 1000.000000000 1000.000000000
D 10,153,000.00 10,153,000.00
617059CS7 1000.000000000 1000.000000000
X 203,075,453.00 N198,327,941.20
617059CT5 1000.000000000 976.621931751
E 10,153,000.00 10,153,000.00
617059CU2 1000.000000000 1000.000000000
F 6,092,000.00 6,092,000.00
617059CV0 1000.000000000 1000.000000000
G 2,030,000.00 2,030,000.00
617059CW8 1000.000000000 1000.000000000
H 3,046,000.00 3,046,000.00
617059CX6 1000.000000000 1000.000000000
NR 7,112,453.00 7,112,453.00
617059CY4 1000.000000000 1000.000000000
R-III 0.00 0.00
617059DB3 1000.000000000 0.000000000
203,075,453.00 198,327,941.20
Notes: (1) N denotes notional balance not included in total
(2) Interest Paid minus Interest Adjustment minus Deferred
Interest equals Accrual (3) Estimated
Principal Principal
Class Payment Adj. or Loss
CUSIP Per $1,000 Per $1,000
A-1 255,052.27 0.00
617059CN8 3.139877755 0.000000000
A-2 0.00 0.00
617059CP3 0.000000000 0.000000000
B 0.00 0.00
617059CQ1 0.000000000 0.000000000
C 0.00 0.00
617059CR9 0.000000000 0.000000000
D 0.00 0.00
617059CS7 0.000000000 0.000000000
X 0.00 0.00
617059CT5 0.000000000 0.000000000
E 0.00 0.00
617059CU2 0.000000000 0.000000000
F 0.00 0.00
617059CV0 0.000000000 0.000000000
G 0.00 0.00
617059CW8 0.000000000 0.000000000
H 0.00 0.00
617059CX6 0.000000000 0.000000000
NR 0.00 0.00
617059CY4 0.000000000 0.000000000
R-III 0.00 0.00
617059DB3 0.000000000 0.000000000
255,052.27 0.00
Negative Closing
Class Amortization Balance
CUSIP Per $1,000 Per $1,000
A-1 0.00 76,227,435.93
617059CN8 0.000000000 938.414821248
A-2 0.00 60,922,000.00
617059CP3 0.000000000 1000.000000000
B 0.00 10,153,000.00
617059CQ1 0.000000000 1000.000000000
C 0.00 12,184,000.00
617059CR9 0.000000000 1000.000000000
D 0.00 10,153,000.00
617059CS7 0.000000000 1000.000000000
X 0.00 198,072,888.93
617059CT5 0.000000000 975.365983450
E 0.00 10,153,000.00
617059CU2 0.000000000 1000.000000000
F 0.00 6,092,000.00
617059CV0 0.000000000 1000.000000000
G 0.00 2,030,000.00
617059CW8 0.000000000 1000.000000000
H 0.00 3,046,000.00
617059CX6 0.000000000 1000.000000000
NR 0.00 7,112,453.00
617059CY4 0.000000000 1000.000000000
R-III 0.00 0.00
617059DB3 0.000000000 0.000000000
0.00 198,072,888.93
Total P&I Payment 1,768,179.19
Interest Interest Pass-Through
Class Payment Adjustment Rate (2)
CUSIP Per $1,000 Per $1,000 Next Rate (3)
A-1 400,853.22 0.00 5.89625000%
617059CN8 4.934792811 0.000000000 5.89625000%
A-2 324,172.73 0.00 5.98625000%
617059CP3 5.321111093 0.000000000 5.98625000%
B 55,108.23 0.00 6.10625000%
617059CQ1 5.427777997 0.000000000 6.10625000%
C 68,298.09 0.00 6.30625000%
617059CR9 5.605555647 0.000000000 6.30625000%
D 59,891.42 0.00 6.63625000%
617059CS7 5.898888998 0.000000000 6.63625000%
X 505,813.65 0.00 3.06046831%
617059CT5 2.490767065 0.000000000 3.43619032%
E 54,995.42 0.00 6.50000000%
617059CU2 5.416666995 0.000000000 Fixed
F 32,998.33 0.00 6.50000000%
617059CV0 5.416666120 0.000000000 Fixed
G 10,995.83 0.00 6.50000000%
617059CW8 5.416665025 0.000000000 Fixed
H 0.00 0.00
617059CX6 0.000000000 0.000000000
NR 0.00 0.00
617059CY4 0.000000000 0.000000000
R-III 0.00 0.00
617059DB3 0.000000000 0.000000000
1,513,126.92 0.00
REMIC II
Original Opening
Class Face Value (1) Balance
CUSIP Per $1,000 Per $1,000
Interest I 81,230,000.00 76,482,488.20
None 1,000.000000000 941.554699003
Interest II 60,922,000.00 60,922,000.00
None 1,000.000000000 1,000.000000000
Interest III 10,153,000.00 10,153,000.00
None 1,000.000000000 1,000.000000000
Interest IV 12,184,000.00 12,184,000.00
None 1,000.000000000 1,000.000000000
Interest V 10,153,000.00 10,153,000.00
None 1,000.000000000 1,000.000000000
Interest VI 10,153,000.00 10,153,000.00
None 1,000.000000000 1,000.000000000
Interest VII 6,092,000.00 6,092,000.00
None 1,000.000000000 1,000.000000000
Interest VIII 2,030,000.00 2,030,000.00
None 1,000.000000000 1,000.000000000
Interest IX 3,046,000.00 3,046,000.00
None 1,000.000000000 1,000.000000000
Interest X 7,112,453.00 7,112,453.00
None 1,000.000000000 1,000.000000000
R-II 0.00 0.00
617059DA5 1,000.000000000 0.000000000
203,075,453.00 198,327,941.20
Notes: (1) N denotes notional balance not included in total
(2) Interest Paid minus Interest Adjustment minus Deferred
Interest equals Accrual (3) Estimated
Principal Principal
Class Payment Adj. or Loss
CUSIP Per $1,000 Per $1,000
Interest I 255,052.27 0.00
None 3.139877755 0.000000000
Interest II 0.00 0.00
None 0.000000000 0.000000000
Interest III 0.00 0.00
None 0.000000000 0.000000000
Interest IV 0.00 0.00
None 0.000000000 0.000000000
Interest V 0.00 0.00
None 0.000000000 0.000000000
Interest VI 0.00 0.00
None 0.000000000 0.000000000
Interest VII 0.00 0.00
None 0.000000000 0.000000000
Interest VIII 0.00 0.00
None 0.000000000 0.000000000
Interest IX 0.00 0.00
None 0.000000000 0.000000000
Interest X 0.00 0.00
None 0.000000000 0.000000000
R-II 0.00 0.00
617059DA5 0.000000000 0.000000000
255,052.27 0.00
Negative Closing
Class Amortization Balance
CUSIP Per $1,000 Per $1,000
Interest I 0.00 76,227,435.93
None 0.000000000 938.414821248
Interest II 0.00 60,922,000.00
None 0.000000000 1,000.000000000
Interest III 0.00 10,153,000.00
None 0.000000000 1,000.000000000
Interest IV 0.00 12,184,000.00
None 0.000000000 1,000.000000000
Interest V 0.00 10,153,000.00
None 0.000000000 1,000.000000000
Interest VI 0.00 10,153,000.00
None 0.000000000 1,000.000000000
Interest VII 0.00 6,092,000.00
None 0.000000000 1,000.000000000
Interest VIII 0.00 2,030,000.00
None 0.000000000 1,000.000000000
Interest IX 0.00 3,046,000.00
None 0.000000000 1,000.000000000
Interest X 0.00 7,112,453.00
None 0.000000000 1,000.000000000
R-II 0.00 0.00
617059DA5 0.000000000 0.000000000
0.00 198,072,888.93
Interest Interest Pass-Through
Class Payment Adjustment Rate (2)
CUSIP Per $1,000 Per $1,000 Next Rate (3)
Interest I 583,516.94 0.00 9.15530259%
None 7.183515204 0.000000000 9.01563024%
Interest II 464,799.45 0.00 9.15530259%
None 7.629418765 0.000000000 9.01563024%
Interest III 77,461.48 0.00 9.15530259%
None 7.629417906 0.000000000 9.01563024%
Interest IV 92,956.84 0.00 9.15530259%
None 7.629418910 0.000000000 9.01563024%
Interest V 77,461.49 0.00 9.15530259%
None 7.629418891 0.000000000 9.01563024%
Interest VI 77,461.49 0.00 9.15530259%
None 7.629418891 0.000000000 9.01563024%
Interest VII 46,478.42 0.00 9.15530259%
None 7.629418910 0.000000000 9.01563024%
Interest VIII 15,487.72 0.00 9.15530259%
None 7.629418719 0.000000000 9.01563024%
Interest IX 23,239.21 0.00 9.15530259%
None 7.629418910 0.000000000 9.01563024%
Interest X 54,263.88 0.00 9.15530259%
None 7.629418430 0.000000000 9.01563024%
R-II 0.00 0.00
617059DA5 0.000000000 0.000000000
1,513,126.92 0.00
Original Opening
Class Face Value (1) Balance
CUSIP Per $1,000 Per $1,000
Regular Interest 203,075,453.00 198,327,941.20
None 1,000.000000000 976.621931751
R-I 0.00 0.00
617059CZ1 1,000.000000000 0.000000000
203,075,453.00 198,327,941.20
Notes: (1) N denotes notional balance not included in total
(2) Interest Paid minus Interest Adjustment minus Deferred
Interest equals Accrual (3) Estimated
Principal Principal
Class Payment Adj. or Loss
CUSIP Per $1,000 Per $1,000
Regular Interest 255,052.27 0.00
None 1.255948300 0.000000000
R-I 0.00 0.00
617059CZ1 0.000000000 0.000000000
255,052.27 0.00
Negative Closing
Class Amortization Balance
CUSIP Per $1,000 Per $1,000
Regular Interest 0.00 198,072,888.93
None 0.000000000 975.365983450
R-I 0.00 0.00
617059CZ1 0.000000000 0.000000000
0.00 198,072,888.93
Interest Interest Pass-Through
Class Payment Adjustment Rate (2)
CUSIP Per $1,000 Per $1,000 Next Rate (3)
Regular Interest 1,513,126.92 0.00 9.15530259%
None 7.451057711 0.000000000 9.01563024%
R-I 0.00 0.00
617059CZ1 0.000000000 0.000000000
1,513,126.92 0.00
Other Related Information
Number of Outstanding Mortgage Loans 533
Stated Principal Balance 198,072,888.84
Total Unscheduled Principal 155,592.87
Collateral Value Adjustments 0.00
Prepayment Interest Shortfall 866.18
Less Prepayment Interest Excess 1.62
Net Prepayment Interest Shortfall 864.57
Prepayment Premium 0.00
Less Net Prepayment Interest Shortfall 864.57
Net Prepayment Premium 0.00
Current Master Servicing Fees 47,529.13
Repurchased Mortgage Loans
Loan Number NA
Repurchase Proceeds NA
Special Servicing Fees NA
Advances
Prior Outstanding
Principal Interest
Made by Servicer: 22,588.85 306,045.92
Made by Trustee: 0.00 0.00
Made by Fiscal Agent: 0.00 0.00
Totals: 22,588.85 306,045.92
Current Month
Principal Interest
Made by Servicer: 21,509.63 312,880.99
Made by Trustee: 0.00 0.00
Made by Fiscal Agent: 0.00 0.00
21,509.63 312,880.99
Recovered
Principal Interest
Made by Servicer: 19,881.99 268,521.37
Made by Trustee: 0.00 0.00
Made by Fiscal Agent: 0.00 0.00
19,881.99 268,521.37
Advances Outstanding
Principal Interest
Made by Servicer: 24,216.49 350,405.53
Made by Trustee: 0.00 0.00
Made by Fiscal Agent: 0.00 0.00
24,216.49 350,405.53
REO Property
Principal Date property
Loan Number Balance acquired as REO
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
Current
Loan Number Book Value Net Income
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
Collateral Value Adjustment
Disclosure Collateral Collateral Value Adj.
Control Value Interest Interest
Number Adjustment Rate Amount
0 0.00 0.000000% 0.00
0 0.00 0.000000% 0.00
0 0.00 0.000000% 0.00
0 0.00 0.000000% 0.00
0 0.00 0.000000% 0.00
0 0.00 0.000000% 0.00
0 0.00 0.000000% 0.00
0 0.00 0.000000% 0.00
0 0.00 0.000000% 0.00
Pool Total
Distribution of Principal Balances
Current Scheduled Number Scheduled Based on
Balances of Loans Balance Balance
$0to $100,000 38 3,198,914 1.62%
$100,000to $200,000 180 27,120,959 13.69%
$200,000to $300,000 109 26,590,167 13.42%
$300,000to $400,000 60 20,764,460 10.48%
$400,000to $500,000 38 17,274,335 8.72%
$500,000to $600,000 20 11,101,670 5.60%
$600,000to $700,000 17 10,944,459 5.53%
$700,000to $800,000 12 9,219,984 4.65%
$800,000to $900,000 13 10,855,288 5.48%
$900,000to $1,000,000 9 8,529,415 4.31%
$1,000,000to $1,100,000 10 10,493,991 5.30%
$1,100,000to $1,200,000 4 4,690,782 2.37%
$1,200,000to $1,300,000 4 4,966,976 2.51%
$1,300,000to $1,400,000 5 6,720,700 3.39%
$1,400,000to $1,500,000 3 4,349,351 2.20%
$1,500,000to $1,600,000 2 3,134,836 1.58%
$1,600,000to $1,700,000 2 3,331,999 1.68%
$1,700,000to $1,800,000 1 1,787,813 0.90%
$1,800,000to $1,900,000 1 1,860,616 0.94%
$1,900,000 & Above 5 11,136,176 5.62%
Total 533 198,072,889 100.00%
Average Scheduled Balance is 370,923
Maximum Scheduled Balance is 3,067,760
Minimum Scheduled Balance is 36,297
Distribution of Property Types
Number Scheduled Based on
Property Types of Loans Balance Balance
Multifamily 425 139,936,777 70.65%
Retail 42 21,354,924 10.78%
Mixed Use 24 14,040,002 7.09%
Office 18 10,984,721 5.55%
Mobile Home 8 5,503,210 2.78%
Industrial 13 4,204,897 2.12%
Warehouse 3 2,048,358 1.03%
Total 533 198,072,889 100.00%
Distribution of Mortgage Interest Rates
Current Mortgage Number Scheduled Based on
Interest Rate of Loans Balance Balance
7.000% orless
7.000% to 7.500% 10 3,327,883 1.68%
7.500% to 8.000% 5 1,456,135 0.74%
8.000% to 8.500% 12 6,435,776 3.25%
8.500% to 9.000% 168 67,354,763 34.01%
9.000% to 9.500% 93 33,940,837 17.14%
9.500% to 10.000% 108 38,261,342 19.32%
10.000% to 10.500% 73 26,182,248 13.22%
10.500% to 11.000% 30 12,033,971 6.08%
11.000% to 11.500% 6 1,496,057 0.76%
11.500% to 12.000% 18 5,558,456 2.81%
12.000% to 12.500% 9 1,925,912 0.97%
12.500% to 13.000% 1 99,510 0.05%
13.000% to 13.500% 0 0 0.00%
13.500% & Above 0 0 0.00%
Total 533 198,072,889 100.00%
W/Avg Mortgage Interest Rate is 9.5328%
Minimum Mortgage Interest Rate is 7.5000%
Maximum Mortgage Interest Rate is 13.0000%
Geographic Distribution
Geographic Number Scheduled Based on
Location of Loans Balance Balance
California 295 98,276,190 49.62%
Washington 45 28,268,755 14.27%
Arizona 59 25,158,223 12.70%
Colorado 60 19,074,982 9.63%
Oregon 48 16,835,905 8.50%
Texas 17 5,680,289 2.87%
Illinois 1 1,692,307 0.85%
Nevada 4 1,335,838 0.67%
New Jersey 1 833,383 0.42%
Idaho 1 457,746 0.23%
Utah 1 310,318 0.16%
New Mexico 1 148,953 0.08%
Total 533 198,072,889 100.00%
Loan Seasoning
Number Scheduled Based on
Number of Years of Loans Balance Balance
1 year or less 400 147,972,205 74.71%
1+ to 2 years 118 43,648,879 22.04%
2+ to 3 years 15 6,451,805 3.26%
3+ to 4 years 0 0 0.00%
4+ to 5 years 0 0 0.00%
5+ to 6 years 0 0 0.00%
6+ to 7 years 0 0 0.00%
7+ to 8 years 0 0 0.00%
8+ to 9 years 0 0 0.00%
9+ to 10 years 0 0 0.00%
10 years or more 0 0 0.00%
Total 533 198,072,889 100.00%
Weighted Average Seasoning is 0.9
Distribution of Amortization Type
Number Scheduled Based on
Amortization Type of Loans Balance Balance
Fully Amortizing 523 191,665,085 96.76%
Interest Only / Balloon 10 6,407,803 3.24%
Total 533 198,072,889 100.00%
Distribution of Remaining Term
Fully Amortizing
Fully Amortizing Number Scheduled Based on
Mortgage Loans of Loans Balance Balance
60 months or less 0 0 0.00%
61 to 120 months 0 0 0.00%
121 to 180 months 4 2,184,278 1.10%
181 to 240 months 7 2,181,959 1.10%
241 to 360 months 512 187,298,848 94.56%
Total 523 191,665,085 96.76%
Weighted Average Months to Maturity is 344
Distribution of Remaining Term
Balloon Loans
Balloon Number Scheduled Based on
Mortgage Loans of Loans Balance Balance
12 months or less 0 0 0.00%
13 to 24 months 0 0 0.00%
25 to 36 months 0 0 0.00%
37 to 48 months 0 0 0.00%
49 to 60 months 0 0 0.00%
61 to 120 months 7 4,762,791 2.40%
121 to 180 months 2 1,471,181 0.74%
181 to 240 months 1 173,832 0.09%
Total 10 6,407,803 3.24%
Weighted Average Months to Maturity is 114
Distribution of DSCR
Debt Service Number Scheduled Based on
Coverage Ratio of Loans Balance Balance
0.5 or less 0 0 0.00%
0.5001 to 0.625 0 0 0.00%
0.6251 to 0.75 2 773,676 0.39%
0.7501 to 0.875 2 539,836 0.27%
0.8751 to 1 3 1,005,102 0.51%
1.0001 to 1.125 8 3,764,604 1.90%
1.1251 to 1.25 52 21,500,672 10.85%
1.2501 to 1.375 102 32,665,646 16.49%
1.3751 to 1.5 93 40,660,935 20.53%
1.5001 to 1.625 77 27,132,190 13.70%
1.6251 to 1.75 54 22,190,624 11.20%
1.7501 to 1.875 49 15,277,920 7.71%
1.8751 to 2 25 11,100,060 5.60%
2.0001 to 2.125 17 7,449,932 3.76%
2.1251 & above 48 13,780,854 6.96%
Unknown 1 230,837 0.12%
Total 533 198,072,889 100.00%
Weighted Average Debt Service Coverage Ratio is 1.581
(1) Debt Service Coverage Ratios are calculated as described in the
prospectus,
values are updated periodically as new NOI figures became available from
borrowers on an asset level.
Neither the Trustee, Servicer, Special Servicer or Underwriter
makes any representation as to the accuracy of the data provided
by the borrower for this calculation.
NOI Aging
Number Scheduled Based on
NOI Date of Loans Balance Balance
1 year or less 215 78,541,968 39.65%
1 to 2 years 293 109,609,458 55.34%
2 Years or More 24 9,613,527 4.85%
Unknown 1 307,936 0.16%
Total 533 198,072,889 100.00%
Distribution of Maximum Rates
Number Scheduled Based on
Maximum Rates of Loans Balance Balance
No Maximum 0 0 0
0.01% to 12.50% 0 0 0.00%
12.51% to 13.00% 2 1,510,807 0.76%
13.01% to 13.50% 214 90,888,387 45.89%
13.51% to 14.00% 204 68,998,953 34.84%
14.01% to 14.50% 58 21,425,188 10.82%
14.51% to 15.00% 41 12,220,843 6.17%
15.01% to 15.50% 3 438,589 0.22%
15.51% to 16.00% 8 2,117,496 1.07%
16.01% to 16.50% 0 0 0.00%
16.51% to 17.00% 2 373,117 0.19%
17.01% to 17.50% 1 99,510 0.05%
17.51% to 18.00% 0 0 0.00%
18.01% & above 0 0 0.00%
Total 533 198,072,889 100.00%
Weighted Average for Mtge with a Maximum Rate is 13.80%
Distribution of Payment Adjustment
Interest Adjustment Number Scheduled Based on
Frequency Loans Balance Balance
Six Month 533 198,072,889 100.00%
Total 533 198,072,889 100.00%
Distribution of Indices of Mortgage Loans
Number Scheduled Based on
Indices of Loans Balance Balance
6 Month LIBOR 434 161,417,627 81.49%
1 Year CMT 46 23,767,486 12.00%
WSJ Prime Rate 53 12,887,775 6.51%
Total 533 198,072,889 100.00%
Distribution of Mortgage Loan Margins
Number Scheduled Based on
Mortgage Loan Margins Loans Balance Balance
No Margin 0 0 0.00%
0.010% to 2.500% 0 0 0.00%
2.510% to 3.000% 26 13,325,655 6.73%
3.010% to 3.250% 25 9,052,423 4.57%
3.260% to 3.500% 33 15,145,513 7.65%
3.510% to 3.750% 147 52,510,086 26.51%
3.760% to 4.000% 125 40,469,687 20.43%
4.010% to 4.250% 65 24,270,490 12.25%
4.260% to 4.500% 42 15,801,063 7.98%
4.510% & Above 70 27,497,972 13.88%
Total 533 198,072,889 100.00%
Weighted Average for Mtge with a Margin is 3.99%
Distribution of Minimum Rates
Number Scheduled Based on
Minimum Rates (1) of Loans Balance Balance
No Minimum 0 0 0.00%
0.010%t 6.500% 0 0 0.00%
6.510%t 7.000% 2 1,510,807 0.76%
7.010%t 7.250% 29 17,603,142 8.89%
7.260%t 7.500% 208 78,827,817 39.80%
7.510%t 7.750% 174 58,512,465 29.54%
7.760%t 8.000% 24 6,960,727 3.51%
8.010%t 8.250% 6 2,366,451 1.19%
8.260%t 8.500% 33 14,012,250 7.07%
8.510%t 8.750% 23 6,724,794 3.40%
8.760%t 9.000% 20 6,935,382 3.50%
9.010%t 9.500% 9 3,100,036 1.57%
9.510%t 10.000% 3 821,868 0.41%
10.010%&Above 2 697,151 0.35%
Total 533 198,072,889 100.00%
Weighted Average for Mtge with a Minimum Rate is 7.78%
Distribution of Interest Adjustment
Payment Adjustment Number Scheduled Based on
Frequency Loans Balance Balance
Six Month 533 198,072,889 100.00%
Total 533 198,072,889 100.00%
(1) For adjustable mortgage loans where a minimum rate does not exist
the gross margin w
One-Year US Treasury Loans
Distribution of Balances
Current Scheduled Number Scheduled Based on
Balances of Loans Balance Balance
$0 to $100,000 0 0 0.00%
$100,000 to $200,000 5 836,481 3.52%
$200,000 to $300,000 10 2,534,439 10.66%
$300,000 to $400,000 12 4,024,619 16.93%
$400,000 to $500,000 4 1,880,742 7.91%
$500,000 to $600,000 4 2,248,276 9.46%
$600,000 to $700,000 0 0 0.00%
$700,000 to $800,000 2 1,477,432 6.22%
$800,000 to $900,000 2 1,688,197 7.10%
$900,000 to $1,000,000 2 1,911,820 8.04%
$1,000,000 to $1,100,000 1 1,083,834 4.56%
$1,100,000 to $1,200,000 0 0 0.00%
$1,200,000 to $1,300,000 1 1,240,254 5.22%
$1,300,000 to $1,400,000 1 1,367,069 5.75%
$1,400,000 to $1,500,000 1 1,436,055 6.04%
$1,500,000 to $1,600,000 0 0 0.00%
$1,600,000 to $1,700,000 0 0 0.00%
$1,700,000 to $1,800,000 0 0 0.00%
$1,800,000 to $1,900,000 0 0 0.00%
$1,900,000 & Above 1 2,038,269 8.58%
Total 46 23,767,486 100.00%
Average Scheduled Balance is 516,684
Maximum Scheduled Balance is 2,038,269
Minimum Scheduled Balance is 117,823
Distribution of Property Types
Number Scheduled Based on
Property Types of Loans Balance Balance
Multifamily 46 23,767,486 100.00%
Total 46 23,767,486 100.00%
Distribution of Mortgage Interest Rates
Current Mortgage Number Scheduled Based on
Interest Rate of Loans Balance Balance
7.000% or less 0 0 0.00%
7.000% to 8.000% 0 0 0.00%
7.500% to 8.000% 1 488,030 2.05%
8.000% to 8.500% 7 4,322,213 18.19%
8.500% to 9.000% 36 16,619,542 69.93%
9.000% to 9.500% 2 2,337,701 9.84%
9.500% to 10.000% 0 0 0.00%
10.000% to 10.500% 0 0 0.00%
10.500% to 11.000% 0 0 0.00%
11.000% to 11.500% 0 0 0.00%
11.500% to 12.000% 0 0 0.00%
12.000% to 12.500% 0 0 0.00%
12.500% to 13.000% 0 0 0.00%
13.000% to 13.500% 0 0 0.00%
13.500% & Above 0 0 0.00%
Total 46 23,767,486 100.00%
Weighted Average Mortgage Interest Rate is 8.7598%
Minimum Mortgage Interest Rate is 8.0000%
Maximum Mortgage Interest Rate is 9.3750%
Geographic Distribution
Geographic Number Scheduled Based on
Location of Loans Balance Balance
Washington 28 16,751,933 70.48%
Oregon 11 4,488,470 18.88%
California 4 1,338,222 5.63%
Colorado 2 710,904 2.99%
Arizona 1 477,957 2.01%
Total 46 23,767,486 100.00%
Loan Seasoning
Number Scheduled Based on
Number of Years of Loans Balance Balance
1 year or less 34 16,034,503 67.46%
1+ to 2 years 12 7,732,983 32.54%
2+ to 3 years 0 0 0.00%
3+ to 4 years 0 0 0.00%
4+ to 5 years 0 0 0.00%
5+ to 6 years 0 0 0.00%
6+ to 7 years 0 0 0.00%
7+ to 8 years 0 0 0.00%
8+ to 9 years 0 0 0.00%
9+ to 10 years 0 0 0.00%
10 years or more 0 0 0.00%
Total 46 23,767,486 100.00%
Weighted Average Seasoning is 0.9
Distribution of Amortization Type
Number Scheduled Based on
Amortization Type of Loans Balance Balance
Fully Amortizing 46 23,767,486 100.00%
Total 46 23,767,486 100.00%
Distribution of Remaining Term
Fully Amortizing
Fully Amortizing Number Scheduled Based on
Mortgage Loans of Loans Balance Balance
60 months or less 0 0 0.00%
61 to 120 months 0 0 0.00%
121 to 180 months 0 0 0.00%
181 to 240 months 0 0 0.00%
241 to 360 months 46 23,767,486 100.00%
Total 46 23,767,486 100.00%
Weighted Average Months to Maturity is 348
Distribution of Remaining Term
Balloon Loans
Balloon Number Scheduled Based on
Mortgage Loans of Loans Balance Balance
12 months or less 0 0 0.00%
13 to 24 months 0 0 0.00%
25 to 36 months 0 0 0.00%
37 to 48 months 0 0 0.00%
49 to 60 months 0 0 0.00%
61 to 120 months 0 0 0.00%
121 to 180 months 0 0 0.00%
181 to 240 months 0 0 0.00%
Total 0 0 0.00%
Weighted Average Months to Maturity isNA
Distribution of DSCR
Debt Service Number Scheduled Based on
Coverage Ratio (of Loans Balance Balance
0.500 or less 0 0 0.00%
0.500 to 0.625 0 0 0.00%
0.625 to 0.750 0 0 0.00%
0.750 to 0.875 0 0 0.00%
0.875 to 1.000 0 0 0.00%
1.000 to 1.125 0 0 0.00%
1.125 to 1.250 17 8,969,374 37.74%
1.250 to 1.375 12 5,445,813 22.91%
1.375 to 1.500 10 6,494,133 27.32%
1.500 to 1.625 2 663,485 2.79%
1.625 to 1.750 2 1,414,334 5.95%
1.750 to 1.875 0 0 0.00%
1.875 to 2.000 2 482,222 2.03%
2.000 to 2.125 0 0 0.00%
2.125 & above 1 298,126 1.25%
Unknown 0 0 0.00%
Total 46 23,767,486 100.00%
Weighted Average Debt Service Coverage Ratio is 1.352
(1) Debt Service Coverage Ratios are calculated as described in the
prospectus,
values are updated periodically as new NOI figures became available from
borrowers on an asset level.
Neither the Trustee, Servicer, Special Servicer or Underwriter
makes any representation as to the accuracy of the data provided
by the borrower for this calculation.
NOI Aging
Number Scheduled Based on
NOI Date of Loans Balance Balance
1 year or less 22 9,852,795 41.45%
1 to 2 years 23 12,944,059 54.46%
2 Years or More 1 970,633 4.08%
Unknown 0 0 0.00%
Total 46 23,767,486 100.00%
Distribution of Maximum Rates
Number Scheduled Based on
Maximum Rates of Loans Balance Balance
No Maximum 0 0 0.00%
12.50% or less 0 0 0.00%
12.51% to 13.00% 0 0 0.00%
13.01% to 13.50% 45 23,607,464 99.33%
13.51% to 14.00% 1 160,022 0.67%
14.01% to 14.50% 0 0 0.00%
14.51% to 15.00% 0 0 0.00%
15.01% to 15.50% 0 0 0.00%
15.51% to 16.00% 0 0 0.00%
16.01% to 16.50% 0 0 0.00%
16.51% to 17.00% 0 0 0.00%
17.01% to 17.50% 0 0 0.00%
17.51% to 18.00% 0 0 0.00%
18.01%&Above 0 0 0.00%
Total 46 23,767,486 100.00%
Weighted Average for Mtge with a Maximum Rate is 13.33%
Distribution of Payment Adjustment
Interest Adjustment Number Scheduled Based on
Frequency Loans Balance Balance
Six Month 46 23,767,486 100.00%
Total 46 23,767,486 100.00%
Distribution of Mortgage Loan Margins
Number Scheduled Based on
Mortgage Loan Margins Loans Balance Balance
No Margin 0 0 0.00%
0.010% to 2.500% 0 0 0.00%
2.510% to 3.000% 21 12,174,878 6.15%
3.010% to 3.250% 14 6,015,578 3.04%
3.260% to 3.500% 8 4,611,848 2.33%
3.510% to 3.750% 3 965,182 0.49%
3.760% to 4.000% 0 0 0.00%
4.010% to 4.250% 0 0 0.00%
4.260% to 4.500% 0 0 0.00%
4.510%&Above 0 0 0.00%
Total 46 23,767,486 12.00%
Weighted Average for Mtge with a Margin is 3.17%
(1) For adjustable mortgage loans where a minimum rate
does not exist the gross margin
Distribution of Minimum Rates
Number Scheduled Based on
Minimum Rates (1) of Loans Balance Balance
No Minimum 0 0 0.00%
0.010% to 6.500% 0 0 0.00%
6.510% to 7.000% 0 0 0.00%
7.010% to 7.250% 25 15,468,999 65.08%
7.260% to 7.500% 20 8,138,465 34.24%
7.510% to 7.750% 1 160,022 0.67%
7.760% to 8.000% 0 0 0.00%
8.010% to 8.250% 0 0 0.00%
8.260% to 8.500% 0 0 0.00%
8.510% to 8.750% 0 0 0.00%
8.760% to 9.000% 0 0 0.00%
9.010% to 9.500% 0 0 0.00%
9.510% to 10.000% 0 0 0.00%
10.010%&above 0 0 0.00%
Total 46 23,767,486 100.00%
Weighted Average for Mtge with a Minimum Rate is 7.34%
Distribution of Interest Adjustment
Payment Adjustment Number Scheduled Based on
Frequency Loans Balance Balance
Six Month 46 23,767,486 100.00%
Total 46 23,767,486 100.00%
Six-Month Libor Loans
Distribution of Balances
Current Schedule Number Scheduled Based on
Balances of Loans Balance Balance
$0 to $100,000 30 2,469,068 1.53%
$100,000 to $200,000 155 23,300,485 14.43%
$200,000 to $300,000 86 20,930,246 12.97%
$300,000 to $400,000 42 14,577,599 9.03%
$400,000 to $500,000 32 14,506,594 8.99%
$500,000 to $600,000 15 8,306,273 5.15%
$600,000 to $700,000 16 10,312,324 6.39%
$700,000 to $800,000 10 7,742,552 4.80%
$800,000 to $900,000 10 8,354,086 5.18%
$900,000 to $1,000,000 7 6,617,595 4.10%
$1,000,000 to $1,100,000 8 8,403,203 5.21%
$1,100,000 to $1,200,000 4 4,690,782 2.91%
$1,200,000 to $1,300,000 3 3,726,722 2.31%
$1,300,000 to $1,400,000 4 5,353,631 3.32%
$1,400,000 to $1,500,000 2 2,913,296 1.80%
$1,500,000 to $1,600,000 2 3,134,836 1.94%
$1,600,000 to $1,700,000 2 3,331,999 2.06%
$1,700,000 to $1,800,000 1 1,787,813 1.11%
$1,800,000 to $1,900,000 1 1,860,616 1.15%
$1,900,000 & Above 4 9,097,907 5.64%
Total 434 161,417,627 100.00%
Average Scheduled Balance is 371,930
Maximum Scheduled Balance is 3,067,760
Minimum Scheduled Balance is 36,297
Distribution of Property Types
Number Scheduled Based on
Property Types of Loans Balance Balance
Multifamily 367 113,683,199 70.43%
Retail 24 16,841,312 10.43%
Mixed Use 14 12,189,895 7.55%
Office 14 10,126,628 6.27%
Mobile Home 8 5,503,210 3.41%
Industrial 7 3,073,384 1.90%
Total 434 161,417,627 100.00%
Distribution of Mortgage Interest Rates
Current Mortgage Number Scheduled Based on
Interest Rate of Loans Balance Balance
7.000% or less 0 0 0.00%
7.000% to 7.500% 10 3,327,883 2.06%
7.500% to 8.000% 4 968,105 0.60%
8.000% to 8.500% 5 2,113,563 1.31%
8.500% to 9.000% 132 50,735,221 31.43%
9.000% to 9.500% 91 31,603,136 19.58%
9.500% to 10.000% 107 37,792,486 23.41%
10.000% to 10.500% 68 25,068,928 15.53%
10.500% to 11.000% 12 8,512,577 5.27%
11.000% to 11.500% 5 1,295,729 0.80%
11.500% to 12.000% 0 0 0.00%
12.000% to 12.500% 0 0 0.00%
12.500% to 13.000% 0 0 0.00%
13.000% to 13.500% 0 0 0.00%
13.500%&Above 0 0 0.00%
Total 434 161,417,627 100.00%
Weighted Average Mortgage Interest Rate 9.4852%
Minimum Mortgage Interest Rate is 7.5000%
Maximum Mortgage Interest Rate is 11.3750%
Geographic Distribution
Geographic Number Scheduled Based on
Location of Loans Balance Balance
California 250 86,396,796 53.52%
Arizona 53 23,658,446 14.66%
Colorado 58 18,364,077 11.38%
Oregon 33 11,667,799 7.23%
Washington 16 11,294,543 7.00%
Texas 16 5,531,327 3.43%
Illinois 1 1,692,307 1.05%
Nevada 3 1,061,932 0.66%
New Jersey 1 833,383 0.52%
Idaho 1 457,746 0.28%
Utah 1 310,318 0.19%
New Mexico 1 148,953 0.09%
Total 434 161,417,627 100.00%
Loan Seasoning
Number Scheduled Based on
Number of Years of Loans Balance Balance
1 year or less 334 124,702,206 77.25%
1+ to 2 years 96 33,913,445 21.01%
2+ to 3 years 4 2,801,976 1.74%
3+ to 4 years 0 0 0.00%
4+ to 5 years 0 0 0.00%
5+ to 6 years 0 0 0.00%
6+ to 7 years 0 0 0.00%
7+ to 8 years 0 0 0.00%
8+ to 9 years 0 0 0.00%
9+ to 10 years 0 0 0.00%
10 years or more 0 0 0.00%
Total 434 161,417,627 100.00%
Weighted Average Seasoning is 0.9
Distribution of Amortization Type
Number Scheduled Based on
Amortization Type of Loans Balance Balance
Fully Amortizing 424 155,009,824 96.03%
Interest Only / Balloon 10 6,407,803 3.97%
Total 434 161,417,627 100.00%
Distribution of Remaining Term
Fully Amortizing
Fully Amortizing Number Scheduled Based on
Mortgage Loans of Loans Balance Balance
60 months or less 0 0 0.00%
61 to 120 months 0 0 0.00%
121 to 180 months 4 2,184,278 1.35%
181 to 240 months 6 1,368,954 0.85%
241 to 360 months 414 151,456,592 93.83%
Total 424 155,009,824 96.03%
Weighted Average Months to Maturity is 344
Distribution of Remaining Term
Balloon Loans
Balloon Number Scheduled Based on
Mortgage Loans of Loans Balance Balance
12 months or less 0 0 0.00%
13 to 24 months 0 0 0.00%
25 to 36 months 0 0 0.00%
37 to 48 months 0 0 0.00%
49 to 60 months 0 0 0.00%
61 to 120 months 7 4,762,791 2.95%
121 to 180 months 2 1,471,181 0.91%
181 to 240 months 1 173,832 0.11%
Total 10 6,407,803 3.97%
Weighted Average Months to Maturity is 114
Distribution of DSCR
Debt Service Number Scheduled Based on
Coverage Ratio of Loans Balance Balance
0.500 orless 0 0 0.00%
0.500 to 0.625 0 0 0.00%
0.625 to 0.750 2 773,676 0.48%
0.750 to 0.875 2 539,836 0.33%
0.875 to 1.000 3 1,005,102 0.62%
1.000 & 1.125 7 3,600,540 2.23%
1.125 & 1.250 32 11,165,818 6.92%
1.250 & 1.375 80 25,370,442 15.72%
1.375 & 1.500 72 31,623,935 19.59%
1.500 & 1.625 69 24,663,126 15.28%
1.625 & 1.750 47 19,778,629 12.25%
1.750 & 1.875 44 14,022,437 8.69%
1.875 & 2.000 19 9,495,080 5.88%
2.000 & 2.125 16 6,981,075 4.32%
2.125 & above 41 12,397,933 7.68%
Unknown 0 0 0.00%
Total 434 161,417,627 100.00%
Weighted Average Debt Service Coverage Ratio is 1.604
(1) Debt Service Coverage Ratios are calculated as described in the
prospectus,
values are updated periodically as new NOI figures became available from
borrowers on an asset level.
Neither the Trustee, Servicer, Special Servicer or Underwriter
makes any representation as to the accuracy of the data provided
by the borrower for this calculation.
NOI Aging
Number Scheduled Based on
NOI Date of Loans Balance Balance
1 year or less 179 65,904,328 40.83%
1 to 2 years 244 90,806,314 56.26%
2 Years or More 10 4,399,050 2.73%
Unknown 1 307,936 0.19%
Total 434 161,417,627 100.00%
Distribution of Maximum Rates
Number Scheduled Based on
Maximum Rates of Loans Balance Balance
No Maximum 0 0 0.00%
0.01% to 12.50% 0 0 0.00%
12.51% to 13.00% 2 1,510,807 0.94%
13.01% to 13.50% 169 67,280,923 41.68%
13.51% to 14.00% 199 67,103,930 41.57%
14.01% to 14.50% 48 18,654,130 11.56%
14.51% to 15.00% 13 6,397,371 3.96%
15.01% to 15.50% 1 80,627 0.05%
15.51% to 16.00% 2 389,841 0.24%
16.01% to 16.50% 0 0 0.00%
16.51% to 17.00% 0 0 0.00%
17.01% to 17.50% 0 0 0.00%
17.51% to 18.00% 0 0 0.00%
18.01%&Above 0 0 0.00%
Total 434 161,417,627 100.00%
Weighted Average for Mtge with a Maximum Rate is 13.78%
Distribution of Payment Adjustment
Interest AdjustmentNumber Scheduled Based on
Frequency Loans Balance Balance
Six Month 434 161,417,627 100.00%
Total 434 161,417,627 100.00%
Distribution of Mortgage Loan Margins
Number Scheduled Based on
Mortgage Loan Margins Loans Balance Balance
None 0 0 0.00%
0.01% to 2.50% 0 0 0.00%
2.51% to 3.00% 0 0 0.00%
3.01% to 3.25% 1 316,348 0.20%
3.26% to 3.50% 19 9,746,194 6.04%
3.51% to 3.75% 127 45,841,270 28.40%
3.76% to 4.00% 111 38,043,800 23.57%
4.01% to 4.25% 65 24,270,490 15.04%
4.26% to 4.50% 41 15,701,553 9.73%
4.51%&Above 70 27,497,972 17.04%
Total 434 161,417,627 100.00%
Weighted Average for Mtge with a Margin 4.15%
(1) For adjustable mortgage loans where a minimum rate
does not exist the gross margin
Distribution of Minimum Rates
Number Scheduled Based on
Minimum Rates (1) of Loans Balance Balance
No Minimum Rate 0 0 0.00%
0.010% to 6.500% 0 0 0.00%
6.510% to 7.000% 2 1,510,807 0.94%
7.010% to 7.250% 4 2,134,143 1.32%
7.260% to 7.500% 188 70,689,351 43.79%
7.510% to 7.750% 173 58,352,443 36.15%
7.760% to 8.000% 20 5,225,726 3.24%
8.010% to 8.250% 4 1,815,105 1.12%
8.260% to 8.500% 23 11,303,194 7.00%
8.510% to 8.750% 7 3,077,936 1.91%
8.760% to 9.000% 5 3,684,522 2.28%
9.010% to 9.500% 4 2,204,892 1.37%
9.510% to 10.000% 3 821,868 0.51%
10.010% & Above 1 597,641 0.37%
Total 434 161,417,627 100.00%
Weighted Average for Mtge with a Minimum Rate is 7.77%
Distribution of Interest Adjustment
Interest AdjustmentNumber Scheduled Based on
Frequency Loans Balance Balance
Six Month 434 161,417,627 100.00%
Total 434 161,417,627 100.00%
Prime Loans
Distribution of Balances
Current Scheduled Number Scheduled Based on
Balances of Loans Balance Balance
$0 to $100,000 8 729,845 5.66%
$100,000 to $200,000 20 2,983,992 23.15%
$200,000 to $300,000 13 3,125,482 24.25%
$300,000 to $400,000 6 2,162,243 16.78%
$400,000 to $500,000 2 886,999 6.88%
$500,000 to $600,000 1 547,121 4.25%
$600,000 to $700,000 1 632,134 4.90%
$700,000 to $800,000 0 0 0.00%
$800,000 to $900,000 1 813,005 6.31%
$900,000 to $1,000,000 0 0 0.00%
$1,000,000 to $1,100,000 1 1,006,954 7.81%
$1,100,000 to $1,200,000 0 0 0.00%
$1,200,000 to $1,300,000 0 0 0.00%
$1,300,000 to $1,400,000 0 0 0.00%
$1,400,000 to $1,500,000 0 0 0.00%
$1,500,000 to $1,600,000 0 0 0.00%
$1,600,000 to $1,700,000 0 0 0.00%
$1,700,000 to $1,800,000 0 0 0.00%
$1,800,000 to $1,900,000 0 0 0.00%
$1,900,000&Above 0 0 0.00%
Total 53 12,887,775 100.00%
Average Scheduled Balance is 238,663
Maximum Scheduled Balance is 1,006,954
Minimum Scheduled Balance is 71,618
Distribution of Property Types
Number Scheduled Based on
Property Types of Loans Balance Balance
Retail 18 4,513,612 35.02%
Multifamily 12 2,486,092 19.29%
Warehouse 3 2,048,358 15.89%
Mixed Use 10 1,850,108 14.36%
Industrial 6 1,131,513 8.78%
Office 4 858,094 6.66%
Total 53 12,887,775 100.00%
Distribution of Mortgage Interest Rates
Current Mortgage Number Scheduled Based on
Interest Rate of Loans Balance Balance
7.000% or less 0 0 0.00%
7.000% to 7.500% 0 0 0.00%
7.500% to 8.000% 0 0 0.00%
8.000% to 8.500% 0 0 0.00%
8.500% to 9.000% 0 0 0.00%
9.000% to 9.500% 0 0 0.00%
9.500% to 10.000% 1 468,857 3.64%
10.000% to 10.500% 5 1,113,320 8.64%
10.500% to 11.000% 18 3,521,394 27.32%
11.000% to 11.500% 1 200,328 1.55%
11.500% to 12.000% 18 5,558,456 43.13%
12.000% to 12.500% 9 1,925,912 14.94%
12.500% to 13.000% 1 99,510 0.77%
13.000% to 13.500% 0 0 0.00%
13.500%&Above 0 0 0.00%
Total 53 12,887,775 100.00%
Weighted Average Mortgage Interest Rate 11.5313%
Minimum Mortgage Interest Rate is 9.9500%
Maximum Mortgage Interest Rate is 13.0000%
Geographic Distribution
Geographic Number Scheduled Based on
Location of Loans Balance Balance
California 41 10,541,172 81.79%
Arizona 5 1,021,820 7.93%
Oregon 4 679,636 5.27%
Nevada 1 273,906 2.13%
Washington 1 222,279 1.72%
Texas 1 148,963 1.16%
Total 53 12,887,775 100.00%
Loan Seasoning
Number Scheduled Based on
Number of Years of Loans Balance Balance
1 year or less 32 7,235,496 56.14%
1+ to 2 years 10 2,002,451 15.54%
2+ to 3 years 11 3,649,829 28.32%
3+ to 4 years 0 0 0.00%
4+ to 5 years 0 0 0.00%
5+ to 6 years 0 0 0.00%
6+ to 7 years 0 0 0.00%
7+ to 8 years 0 0 0.00%
8+ to 9 years 0 0 0.00%
9+ to 10 years 0 0 0.00%
10 years or more 0 0 0.00%
Total 53 12,887,775 100.00%
Weighted Average Seasoning is 1.4
Distribution of Amortization Type
Number Scheduled Based on
Amortization Type of Loans Balance Balance
Fully Amortizing 53 12,887,775 100.00%
Total 53 12,887,775 100.00%
Distribution of Remaining Term
Fully Amortizing
Fully Amortizing Number Scheduled Based on
Mortgage Loans of Loans Balance Balance
60 months or less 0 0 0.00%
61 to 120 months 0 0 0.00%
121 to 180 months 0 0 0.00%
181 to 240 months 1 813,005 6.31%
241 to 360 months 52 12,074,770 93.69%
Total 53 12,887,775 100.00%
Weighted Average Months to Maturity is 335
Distribution of Remaining Term
Balloon Loans
Balloon Number Scheduled Based on
Mortgage Loans of Loans Balance Balance
12 months or less 0 0 0.00%
13 to 24 months 0 0 0.00%
25 to 36 months 0 0 0.00%
37 to 48 months 0 0 0.00%
49 to 60 months 0 0 0.00%
61 to 120 months 0 0 0.00%
121 to 180 months 0 0 0.00%
181 to 240 months 0 0 0.00%
Total 0 0 0.00%
Weighted Average Months to Maturity isNA
Distribution of DSCR
Debt Service Number Scheduled Based on
Coverage Ratio of Loans Balance Balance
0.500 or less 0 0 0.00%
0.500 to 0.625 0 0 0.00%
0.625 to 0.750 0 0 0.00%
0.750 to 0.875 0 0 0.00%
0.875 to 1.000 0 0 0.00%
1.000 & 1.125 1 164,065 1.27%
1.125 & 1.250 3 1,365,479 10.60%
1.250 & 1.375 10 1,849,391 14.35%
1.375 & 1.500 11 2,542,868 19.73%
1.500 & 1.625 6 1,805,580 14.01%
1.625 & 1.750 5 997,662 7.74%
1.750 & 1.875 5 1,255,483 9.74%
1.875 & 2.000 4 1,122,759 8.71%
2.000 & 2.125 1 468,857 3.64%
2.125 & Above 6 1,084,795 8.42%
Unknown 1 230,837 1.79%
Total 53 12,887,775 100.00%
Weighted Average Debt Service Coverage Ratio is 1.706
NOI Aging
Number Scheduled Based on
NOI Date of Loans Balance Balance
1 year or less 14 2,784,846 21.61%
1 to 2 years 26 5,859,085 45.46%
2 Years or More 13 4,243,845 32.93%
Unknown 0 0 0.00%
Total 53 12,887,775 100.00%
Distribution of Maximum Rates
Number Scheduled Based on
Maximum Rates of Loans Balance Balance
No Maximum 0 0 0.00%
0.01% to 12.50% 0 0 0.00%
12.51% to 13.00% 0 0 0.00%
13.01% to 13.50% 0 0 0.00%
13.51% to 14.00% 4 1,735,001 13.46%
14.01% to 14.50% 10 2,771,059 21.50%
14.51% to 15.00% 28 5,823,472 45.19%
15.01% to 15.50% 2 357,962 2.78%
15.51% to 16.00% 6 1,727,654 13.41%
16.01% to 16.50% 0 0 0.00%
16.51% to 17.00% 2 373,117 2.90%
17.01% to 17.50% 1 99,510 0.77%
17.51% to 18.00% 0 0 0.00%
18.01% & Above 0 0 0.00%
Total 53 12,887,775 100.00%
Weighted Average for Mtge with a Maximum Rate is 14.87%
Distribution of Payment Adjustment
Interest AdjustmentNumber Scheduled Based on
Frequency Loans Balance Balance
Six Month 53 12,887,775 100.00%
Total 53 12,887,775 100.00%
Distribution of Mortgage Loan Margins
Number Scheduled Based on
Mortgage Loan Margins Loans Balance Balance
No Margin 0 0 0.00%
0.010%t 2.500% 0 0 0.00%
2.510%t 3.000% 5 1,150,778 8.93%
3.010%t 3.250% 10 2,720,497 21.11%
3.260%t 3.500% 6 787,470 6.11%
3.510%t 3.750% 17 5,703,633 44.26%
3.760%t 4.000% 14 2,425,887 18.82%
4.010%t 4.250% 0 0 0.00%
4.260%t 4.500% 1 99,510 0.77%
4.510%&Above 0 0 0.00%
Total 53 12,887,775 100.00%
Weighted Average for Mtge with a Margin 3.51%
(1) For adjustable mortgage loans where a minimum rate does not exist
the gross margin w
Distribution of Minimum Rates
Number Scheduled Based on
Minimum Rates (1) of Loans Balance Balance
No Minimum Rate 0 0 0.00%
0.010% to 6.500% 0 0 0.00%
6.510% to 7.000% 0 0 0.00%
7.010% to 7.250% 0 0 0.00%
7.260% to 7.500% 0 0 0.00%
7.510% to 7.750% 0 0 0.00%
7.760% to 8.000% 4 1,735,001 13.46%
8.010% to 8.250% 2 551,347 4.28%
8.260% to 8.500% 10 2,709,057 21.02%
8.510% to 8.750% 16 3,646,858 28.30%
8.760% to 9.000% 15 3,250,860 25.22%
9.010% to 9.500% 5 895,144 6.95%
9.510% to 10.000% 0 0 0.00%
10.010% & Above 1 99,510 0.77%
Total 53 12,887,775 100.00%
Weighted Average for Mtge with a Minimum Rate is 8.68%
Distribution of Interest Adjustment
Interest AdjustmentNumber Scheduled Based on
Frequency Loans Balance Balance
Six Month 53 12,887,775 100.00%
Total 53 12,887,775 100.00%
DistributiDelinq 1 Month Delinq 2 Months Delinq 3+ Month
Date # Balance # Balance # Balance
10/27/97 15 4,962,842 0 0 0 0
2.81% 2.502% 0.00% 0.000% 0.00% 0.000%
09/25/97 7 1,393,548 2 1,972,441 0 0
1.31% 0.697% 0.37% 0.986% 0.00% 0.000%
08/25/97 2 1,973,431 0 0 0 0
0.37% 0.977% 0.00% 0.000% 0.00% 0.000%
07/25/97 2 669,343 0 0 0 0
0.37% 0.330% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
Foreclosure/
DistributiBankruptcy REO Modifications
Date # Balance # Balance # Balance
10/27/97 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
09/25/97 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
08/25/97 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
07/25/97 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/00/00 0 0 0 0 0 0
0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
Note: Foreclosure and REO Totals are Included in the
Appropriate Delinquency Aging Category
DistributiPrepayments Curr Weighted Avg.
Date # Balance Coupon Remit
10/27/97 1 156,493 9.5328% 9.1553%
0.19% 0.079%
09/25/97 2 1,519,298 9.3377% 8.9602%
0.37% 0.760%
08/25/97 3 1,908,924 9.0730% 8.6955%
0.56% 0.945%
07/25/97 1 784,838 8.8932% 8.5157%
0.19% 0.386%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
01/00/00 0 0 0.0000% 0.0000%
0.00% 0.000%
