<PAGE>
--------------------------------------------------------------------------------
[LOGO]
SAXON
$675,000,000 (Approximate)
Saxon Asset Securities Trust 2000-3
Mortgage Loan Asset Backed Certificates, Series 2000-3
Classes AF-1, AF-2, AF-3, AF-4, AF-5, AF-6, MF-1, MF-2, BF-1
AV-1, AV-2, MV-1, MV-2, BV-1 and A-IO
Saxon Asset Securities Company
Depositor
Saxon Mortgage, Inc.
Seller and Master Servicer
Meritech Mortgage Services, Inc.
Servicer
September 12, 2000
Greenwich Capital
--------------------------------------------------------------------------------
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
Final Term Sheet Date Prepared: September 12, 2000
$675,000,000 (Approximate)
Saxon Asset Securities Trust 2000-3
Mortgage Loan Asset Backed Certificates, Series 2000-3
<TABLE>
<CAPTION>
========================================================================================================
Approx WAL (Yrs) Pymt Window Tranche Expected Ratings
Class/(1)/ Class Size Call/Mat/(3)/ Call/Mat (Mos) Type S&P/Fitch
--------- ---------- ------------- -------------- ---- ---------
<S> <C> <C> <C> <C> <C>
AF-1/(5)/ $ 85,500,000 0.84/0.84 1-18/1-18 Float-Seq AAA/AAA
AF-2/(5)/ $ 57,750,000 2.00/2.00 18-31/18-31 Fixed-Seq AAA/AAA
AF-3/(5)/ $ 37,800,000 3.00/3.00 31-43/31-43 Fixed-Seq AAA/AAA
AF-4/(5)/ $ 53,900,000 5.00/5.00 43-89/43-89 Fixed-Seq AAA/AAA
AF-5/(2)(4)(5)/ $ 35,330,000 8.21/11.62 89-99/89-205 Fixed-Seq AAA/AAA
AF-6/(5)/ $ 30,000,000 6.56/6.85 37-99/37-179 Fixed-NAS AAA/AAA
MF-1/(2)(4)(5)/ $ 18,714,000 6.27/7.31 40-99/40-179 Fixed-Mez AA/AA
MF-2/(2)(4)(5)/ $ 11,909,000 6.27/7.25 40-99/40-179 Fixed-Mez A/A
BF-1/(4)(5)/ $ 9,357,000 6.27/6.98 40-99/40-155 Fixed-Sub BBB/BBB
AV-1/(2)(4)(6)/ $136,992,000 2.44/2.49 1-99/1-155 Float-Sen AAA/AAA
AV-2/(2)(4)(6)/ $136,992,000 2.43/2.48 1-99/1-153 Float-Sen AAA/AAA
MV-1/(2)(4)(6)/ $ 30,629,000 4.72/4.83 39-99/39-132 Float-Mez AA/AA
MV-2/(2)(4)(6)/ $ 17,072,000 4.65/4.70 38-99/38-116 Float-Mez A/A
BV-1/(2)(4)(6)/ $ 13,054,000 4.55/4.56 37-99/37-101 Float-Sub BBB/BBB
========================================================================================================
</TABLE>
(1) The Group I Certificates consist of Classes AF-1, AF-2, AF-3, AF-4, AF-5,
AF-6 (the "Class AF Certificates" or "Group I Senior Certificates"),
Classes MF-1 and MF-2 (the "Class MF Certificates") and Class BF-1
Certificates. The Group I Certificates are backed primarily by the Group I
Mortgage Loans. The Group II Certificates consist of Class AV-1 and Class
AV-2 (the "Class AV Certificates" or "Group II Senior Certificates"), Class
MV-1 and Class MV-2 (the "Class MV Certificates") and Class BV-1
Certificates. The Class AV-1 Certificates are backed primarily by the Group
II Subgroup A Mortgage Loans. The Class AV-2 Certificates are backed
primarily by the Group II Subgroup B Mortgage Loans. The Class MV and Class
BV-1 Certificates are backed primarily by the Group II Subgroup A and
Subgroup B Mortgage Loans. The class sizes are subject to a +/- 5%
variance.
(2) The Certificates are subject to a 10% Clean-up Call (as described herein).
The coupon on the Class AF-5, Class MF-1 and Class MF-2 Certificates will
increase by [0.50%]; the margin on the Class AV-1 and Class AV-2
Certificates will increase to 2 times the initial margin; and the margin on
the Class MV-1, Class MV-2 and Class BV-1 Certificates will increase to 1.5
times their initial margin after the first date on which the Clean-up Call
is exercisable.
(3) See "Pricing Prepayment Speed" herein.
(4) Priced to Call.
(5) Subject to the weighted average of the mortgage interest rates (net of the
Servicing Fee and the Fixed Component of the Class A-IO Pass Through Rate)
for the Group I Mortgage Loans except that the AF-1 Certificates will be
subject to the Group I Available Funds Cap.
(6) Subject to the Group II Available Funds Cap.
Greenwich Capital
--------------------------------------------------------------------------------
2
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
I/O Certificates
----------------
----------------------------------------------------------------------------
To Maturity
Expected Expected
Initial Payment Expected Ratings
Notional Interest Principal Window
Class Amount Type Type (mos)
S&P Fitch
A-IO 103,000,000 Fixed Notional 1 - 31 AAA AAA
----------------------------------------------------------------------------
Expected Class A-IO Notional Amount Schedule
--------------------------------------------
--------------------------------------------------------------------------------
There will be a AAA/AAA rated interest-only class (Class A-IO), offered solely
by Greenwich Capital Markets, Inc., relating to Loan Groups I and II with a
coupon of 7.40% for the first 31 months and 0.0% for months 32 and beyond. The
notional amount of Class A-IO is equal to the lesser of (i) the sum of the
aggregate principal balance of the mortgage loans in Loan Groups I and II and
(ii) the following schedule:
Period Total Notional Amount Fix Component ARM Component
1 - 3 103,000,000 60,000,000 43,000,000
4 - 6 93,000,000 56,000,000 37,000,000
7 - 9 79,000,000 45,000,000 34,000,000
10 - 12 74,000,000 42,000,000 32,000,000
13 - 15 69,000,000 39,000,000 30,000,000
16 - 18 65,000,000 37,000,000 28,000,000
19 - 21 62,000,000 35,000,000 27,000,000
22 - 24 58,000,000 31,000,000 27,000,000
25 - 27 57,000,000 30,000,000 27,000,000
28 - 31 54,000,000 27,000,000 27,000,000
32 and thereafter 0 0 0
--------------------------------------------------------------------------------
Greenwich Capital
--------------------------------------------------------------------------------
3
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
Depositor: Saxon Asset Securities Company
Seller and
Master Servicer: Saxon Mortgage, Inc.
Servicer: Meritech Mortgage Services, Inc.
Lead Manager: Greenwich Capital Markets, Inc.
Co-Managers: Bank of America Securities LLC, Credit Suisse First
Boston and Prudential Securities Incorporated.
Trustee: Bankers Trust Company.
Rating Agencies: Standard and Poors, Inc. ("S&P") and Fitch IBCA
("Fitch").
Statistical Cut-off Date: The close of business on September 1, 2000.
Closing Date: On or about September 28, 2000.
Settlement Date: September 28, 2000.
Distribution Date: The 25/th/ of each month (or next succeeding business
day), beginning October 25, 2000.
Registration: The Certificates will be available in book-entry form
through DTC, Clearstream, Luxembourg and the
Euroclear System.
Day Count: 30/360 on the Group I Certificates (other than the
Class AF-1) and actual/360 on the Class AF-1 and
Group II Certificates.
Interest Accrual Period: For the Group I Certificates (other than the Class
AF-1), interest will accrue during the month
immediately preceding the month in which such
Distribution Date occurs. For the Class AF-1
Certificates and the Group II Certificates, interest
will accrue from the preceding Distribution Date (or,
with respect to the first accrual period, the Closing
Date) to and including the day prior to the related
Distribution Date.
Cleanup Call: The Master Servicer will have the right to exercise a
clean-up call on any Distribution Date on which the
aggregate principal balance of the Mortgage Loans is
equal to or less than 10% of the sum of the aggregate
principal balance of the Mortgage Loans as of the
Cut-off Date and the Pre-funding Amount.
Denominations: $1,000 in original principal amount and integral
multiples.
Federal Tax Status: The Certificates will be treated as REMIC regular
interest for Federal income tax purposes.
ERISA: The Class AF and Class AV Certificates are expected
to be "ERISA" eligible.
Greenwich Capital
--------------------------------------------------------------------------------
4
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
SMMEA: The Class AV-1, Class AV-2 and Class MV-1
Certificates will be SMMEA eligible upon termination
of the funding period relating to the Pre-funding
Account. The remaining Certificates will not be SMMEA
eligible.
Group I Pricing Speed: Fixed rate Mortgage Loans: 100% FRM PPC. 100% FRM PPC
assumes that prepayments start at 2% CPR in month
one, increase by approximately 2.00% each month to
20% CPR in month ten, and remain at 20% CPR
thereafter.
Group II Pricing Speed: Adjustable rate Mortgage Loans: 100% ARM PPC. 100%
ARM PPC assumes that prepayments start at 4% CPR in
month one, increase by approximately 1.4762% each
month to 35% CPR in month 22, and remain at 35% CPR
thereafter.
Servicing Fee: Approximately [0.56%] of the aggregate principal
balance of the Group I Mortgage Loans and
approximately [0.55%] of the aggregate principal
balance of the Group II Mortgage Loans (including the
master servicing fee).
Available Funds Cap: As to any Distribution Date, (i) in the case of the
Class AF-1 Certificates, the Group I Available Funds
Cap and (ii) in the case of the Group II
Certificates, the Group II Available Funds Cap.
Group I
Available Funds Cap: A per annum rate equal to the weighted average of the
mortgage interest rates (net of (i) the Servicing Fee
and (ii) the Fixed Component of the Class A-IO
interest) adjusted by the actual number of days in
the related accrual period.
Group II
Available Funds Cap: The cap is calculated respectively as the total
scheduled interest for the Group II Mortgage Loans
for the related due period (net of the Servicing Fee
and the ARM Component of the Class A-IO interest)
divided by (x) the outstanding principal balance of
the Group II Certificates divided by (y) the actual
number of days in the related accrual period and (z)
multiplied by 360.
Group II Certificates
Carryover Amount: If on any Distribution Date the Pass Through Rate for
a Class of the Group II Certificates is based upon
the Group II Available Funds Cap, the excess of (i)
the amount of interest that such Class would have
been entitled to receive on such Distribution Date
based on LIBOR plus the applicable margin (but not
more than the weighted average of the maximum
lifetime net Mortgage Interest Rates for Group II)
over (ii) the amount of interest such Class received
on such Distribution Date based on the Group II
Available Funds Cap, together with the unpaid portion
of any such excess from prior Distribution Dates (and
interest accrued thereon at the then applicable Pass
Through Rate, without giving effect to the Group II
Available Funds Cap).
Credit Enhancement: Credit enhancement for each group of Certificates
will consist of (i) Excess Interest, (ii)
Overcollateralization and (iii) Bond Subordination.
Overcollateralization: On any Distribution Date, collections on the mortgage
loans in excess of the amount required to make
interest and principal distributions on the
Certificates or to pay certain expenses of the trust
will be applied first to cover certain shortfalls on
the Senior Certificates, then to maintain
Greenwich Capital
--------------------------------------------------------------------------------
5
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
the overcollateralization for the Certificates and
finally, to cover certain shortfalls on the
Subordinate Certificates.
Expected Targeted
Overcollateralization
Amount: Group I Certificates
--------------------
Prior to the Step-down Date, [2.25%] of the aggregate
Principal Balance of the Group I Mortgage Loans as of
the Closing Date and the Pre-funding. On and after
the Step-down Date, (assuming a Trigger Event is not
in effect), the greater of (1) the lesser of (A)
[2.25%] of the aggregate Principal Balance of the
Group I Mortgage Loans as of the Closing Date and the
Pre-funding and (B) [4.50%] of the aggregate current
principal balance of the Group I Mortgage Loans and
(2) [0.50%] of the aggregate Cut-Off Date Principal
Balance of the Group I Mortgage Loans as of the
Closing Date and the Pre-funding.
Group II Certificates
---------------------
Prior to the Step-down Date, [3.00%] of the aggregate
Principal Balance of the Group II Mortgage Loans as
of the Closing Date and the Pre-funding. On and after
the Step-down Date, (assuming a Trigger Event is not
in effect), the greater of (1) the lesser of (A)
[3.00%] of the aggregate Principal Balance of the
Group II Mortgage Loans as of the Closing Date and
the Pre-funding and (B) [6.00%] of the aggregate
current principal balance of the Group II Mortgage
Loans and (2) [0.50%] of the aggregate Cut-Off Date
Principal Balance of the Group II Mortgage Loans as
of the Closing Date and the Pre-funding.
<TABLE>
<CAPTION>
Expected Credit
Support Percentage: Group I Certificates
-------------------------------------------------------------------------------------------
Initial Credit Support % After Step-down Date
------------------------ --------------------
<S> <C> <C> <C>
Class AF-1 to Class AF-6 [11.75%] Class AF-1 to Class AF-6 [28.00%]
Class MF-1 [6.25%] Class MF-1 [17.00%]
Class MF-2 [2.75%] Class MF-2 [10.00%]
Class BF-1 [0.00%] Class BF-1 [4.50%]
-------------------------------------------------------------------------------------------
Group II Certificates
-------------------------------------------------------------------------------------------
Initial Credit Support % After Step-down Date
------------------------ --------------------
Class AV-1 and Class AV-2 [18.15%] Class AV-1 and Class AV-2 [42.30%]
Class MV-1 [9.00%] Class MV-1 [24.00%]
Class MV-2 [3.90%] Class MV-2 [13.80%]
Class BV-1 [0.00%] Class BV-1 [6.00%]
-------------------------------------------------------------------------------------------
</TABLE>
Subordination: If Excess Interest and Overcollateralization are
insufficient to cover losses on any mortgage loans,
those losses will be applied in reduction of the
class certificate balances of the subordinate
certificates, in reverse order of seniority.
Stepdown Date: With respect to a group, the earlier of
Greenwich Capital
--------------------------------------------------------------------------------
6
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
(1) the date on which the principal balance
of the Senior Certificates of the related group
is reduced to zero and
(2) the later of: (x) the 37/th/
Distribution Date and (y) the first Distribution
Date on which (i) with respect to Group I, the
principal balance of the Group I Senior
Certificates is less than or equal to 72.0% of
the principal balance of the Group I Mortgage
Loans or (ii) with respect to Group II, the
principal balance of the Group II Senior
Certificates is less than or equal to 57.70% of
the principal balance of the Group II Mortgage
Loans.
Distributions
of Interest: On each Distribution Date, the interest funds for
that Distribution Date with respect to each group are
required to be distributed in the following order of
priority until the interest funds have been fully
distributed:
. To each class of the Class A Certificates for
such Group and the related component of the Class
A-IO Certificates, the current interest and any
interest carry forward Amount for such class and
component on that Distribution Date; provided,
however, if the interest funds and any amounts
transferred from the Capitalized Interest Account
for a Group of Mortgage Loans are not sufficient
to make a full distribution of the current
interest and any interest carry forward amount
with respect to the Class A Certificates of such
group and the related component of the Class A-IO
Certificates, their interest funds will be
distributed pro rata among each such class of the
Class A Certificates and such component based on
the ratio of:
. The current interest and interest carry
forward amount for that class or component to
. The total amount of current interest and any
interest carry forward amount of the Class A
Certificates of such group and such
component;
. To the Class M-1 Certificates of the group, the
current interest for that class and Distribution
Date;
. To the Class M-2 Certificates of the group, the
current interest for that class and Distribution
Date;
. To the Class B-1 Certificates of the group, the
current interest for that class and Distribution
Date;
. Any remainder as described under "Excess
Interest" below.
Excess Interest: On each Distribution Date, the trust will generally
apply any excess interest in the following order:
. To distribute an extra principal distribution
amount on the related certificates;
. To distribute to the related subordinate
certificates, in order of seniority, the amount
of unpaid interest for prior Distribution Dates
(excluding any carryover amount for Group II) on
the related certificates and amounts in repayment
of any realized losses previously allocated to
those certificates;
. In the case of Group II, in order of seniority,
to distribute any carryover amount;
. To distribute any remainder to the Class C and
Class R Certificates.
Principal Cash Flow
Priority: On each Distribution Date, the Principal Distribution
Amount for that Distribution Date with respect to
each group is required to be distributed in the
following order of priority until the Principal
Distribution Amount has been fully distributed:
Greenwich Capital
--------------------------------------------------------------------------------
7
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
. To the Class A Certificates of the group, the
Class A Principal Distribution Amount for the
group; provided, however, the Class A Principal
Distribution Amount for group I is required to be
distributed as follows: first, the Class AF-6
Distribution Amount to the class AF-6
Certificates, and then the balance of the Class A
Principal Distribution Amount sequentially to the
Class AF-1, Class AF-2, Class AF-3, Class AF-4,
Class AF-5 and Class AF-6 Certificates so that no
distribution will be made to any class until the
certificate principal balances of all the Class A
Certificates with a lower numeral designation
shall have been reduced to zero; and the Class A
Principal Distribution Amount for Group II is
required to be distributed as follows: amounts
constituting principal funds attributable to
Subgroup A to the Class AV-1 Certificates until
the Certificate Principal Balance has been reduced
to zero and amounts constituting principal funds
attributable to Subgroup B to the Class AV-2
Certificates until the Certificate Principal
Balance has been reduced to zero, and any excess
of the Class A Principal Distribution Amount for
Group II over the amounts distributed in the
preceding clause will proratated between the Class
AV-1 and Class AV-2 Certificates; provided,
however, if the certificate principal balance of
the Class AV-1 Certificates or the Class AV-2
Certificates is reduced to zero, the Class A
Principal Distribution Amount shall be distributed
to the remaining Class A Group II Certificates
until the certificate principal balance of such
Class has been reduced to zero; and provided,
further, that, on any Distribution Date on which
the certificate principal balance of the Class A
Certificates with respect to Group I is equal to
or greater than the scheduled principal balances
of the mortgage loans in that group, the Class A
Principal Distribution Amount for Group I will be
distributed pro rata and not sequentially to those
Class A Certificates;
. To the Class M-1 Certificates of the group, the
Class M-1 Principal Distribution Amount for that
class;
. To the Class M-2 Certificates of the group, the
Class M-2 Principal Distribution Amount for that
class;
. To the Class B-1 Certificates of the group, the
Class B-1 Principal Distribution Amount for that
class;
Principal Distribution
Amount: The excess of (i) the sum of (A) all principal
amounts collected or advanced on the mortgage loans
during the related due period and (B) the lesser of
(I) excess interest funds for such Distribution Date
and (II) the amount, if any, by which the Targeted
Overcollateralization Amount exceeds the
overcollateralization amount for such Distribution
Date over (ii) the amount, if any, by which the
overcollateralization amount exceeds the Targeted
Overcollateralization Amount for each Distribution
Date.
Class AF-6 Distribution
Amount:
For any Distribution Date, is equal to the product
of:
. A fraction, the numerator of which is the Class
AF-6 Certificate principal balance and the
denominator of which is the Class A Certificate
principal balance for Group I, in each case
immediately prior to the Distribution Date,
. The Class A Principal Distribution Amount with
respect to Group I for the Distribution Date and
. The applicable percentage for the Distribution
Date set forth in the following table:
Greenwich Capital
--------------------------------------------------------------------------------
8
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
Distribution Periods Percentage
-------------------- ----------
1-36 0%
37-60 45%
61-72 80%
73-84 100%
85 and after 300%
Class A Principal
Distribution Amount: For a group is
. With respect to any Distribution Date prior to the
related Step-down Date or as to which a Trigger
Event exists for the group, 100% of the Principal
Distribution Amount for the group and the
Distribution Date and
. With respect to any Distribution Date on or after
the related Step-down Date and as to which a
Trigger Event is not in effect for the group, the
excess of
. The related Class A Certificate principal
balance immediately prior to the Distribution
Date over
the lesser of
. 72.0% for Group I (57.7% for Group II) of the
scheduled principal balances of the mortgage
loans in the group on the preceding due date
and
. the scheduled principal balances of the
mortgage loans in the group on the preceding
due date less 0.50% of the scheduled
principal balances of the mortgage loans in
the group as of the Cut-Off Date.
Class M-1 Principal
Distribution Amount: For a group, with respect to any Distribution Date on
or after the related Step-down Date and as long as a
Trigger Event for the group is not in effect for the
group, is the excess of
. the sum for the group of
. the related Class A Certificate principal
balance (after giving effect to distributions
on that date) and
. the related Class M-1 Certificate principal
balance immediately prior to the Distribution
Date over
the lesser of
. 83.0% for Group I (76.0% for Group II) of the
scheduled principal balances of the mortgage
loans in the group on the preceding due date
and
. the scheduled principal balances of the
mortgage loans in the group on the preceding
due date less 0.50% of the scheduled
principal balances of the mortgage loans in
the group as of the Cut-Off Date.
Class M-2 Principal
Distribution Amount: For a group, with respect to any Distribution Date on
or after the related Step-down Date and as long as a
Trigger Event for the group is not in effect for the
group, is the excess of
. the sum for the group of
. the related Class A Certificate principal balance
(after giving effect to distributions on that
date),
. the related Class M-1 Certificate principal
balance (after giving effect to distributions on
that date), and
. the related Class M-2 Certificate principal
balance immediately prior to the Distribution Date
over
the lesser of
Greenwich Capital
--------------------------------------------------------------------------------
9
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
. 90.0% for Group I (86.2% for Group II) of the
scheduled principal balances of the mortgage loans
in the group on the preceding due date and
. the scheduled principal balances of the mortgage
loans in the group on the preceding due date less
0.50% of the scheduled principal balances of the
mortgage loans in the group as of the Cut-Off
Date.
Class B-1 Principal
Distribution Amount: For a group, with respect to any Distribution Date on
or after the related Step-down Date and as long as a
Trigger Event for the group is not in effect for the
group, is the excess of the sum for the group of
. the related Class A Certificate principal balance
(after giving effect to distributions on that
date),
. the related Class M-1 Certificate principal
balance (after giving effect to distributions on
that date),
. the related Class M-2 Certificate principal
balance (after giving effect to distributions on
that date), and
. the related Class B-1 Certificate principal
balance immediately prior to the Distribution Date
over
the lesser of
. 95.5% for Group I (94.0% for Group II) of the
scheduled principal balances of the mortgage loans
in the group on the preceding due date and
. the scheduled principal balances of the mortgage
loans in the group on the preceding due date less
0.50% of the scheduled principal balances of the
mortgage loans in the group as of the Cut-Off
Date.
Trigger Event: Occurs with respect to a loan group when 60+ day
delinquency percentage is greater than (x) 50% of the
senior enhancement percentage for the Group I
Certificates or (y) 50% of the senior enhancement
percentage for the Group II Certificates
Mortgage Loans: As of the Statistical Cut-off Date, the aggregate
principal balance of the Mortgage Loans described
herein was approximately $[422,756,818] (the "Initial
Mortgage Loans").
Between the Statistical Cut-Off Date and the Closing
Date the Seller expects to designate additional
mortgage loans for deposit in each Mortgage Loan Group
(the "Additional Mortgage Loans").
Group I
Mortgage Loans: Fixed-Rate conventional home equity mortgage loans
secured by first and second liens. Loan Group I
consists primarily of [2,565] Mortgage Loans with an
aggregate balance of approximately [$213,107,268] as of
the Statistical Cut-off Date.
Group II
MortgageLoans: Adjustable-Rate conventional home equity mortgage loans
secured by first liens. Loan Group II consists
primarily of [1,701] Mortgage Loans with an aggregate
balance of approximately [$209,649,551] as of the
Statistical Cut-off Date.
The Group II Mortgage Loans will consist of two
subgroups: Subgroup A and Subgroup B. The
Greenwich Capital
--------------------------------------------------------------------------------
10
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
Group II Subgroup A is comprised of a pool of
conforming balance adjustable rate mortgage loans with
an aggregate balance of approximately $100,000,112 as
of the Statistical Cut-off Date. The Group II Subgroup
B is comprised of a pool of non-conforming balance
adjustable rate mortgage loans with an aggregate
balance of approximately $109,649,439 as of the
Statistical Cut-off Date.
Collateral Description: For further information, please see the attached
collateral term sheet.
Pre-funding Amount: A deposit of approximately $[ ] (the initial "Pre-
funding Amount") will be made to the Pre-funding
Account on the Closing Date. On or prior to [October
11,] 2000, (the "Pre-funding Period"), the Pre-funding
Amount will be used to purchase additional mortgage
loans (the "Subsequent Mortgage Loans") (to the extent
available) having similar characteristics as the
Initial Mortgage Loans.
Capitalized Interest
Amount: On the Closing Date, a deposit (the "Capital Interest
Amount") will be made to the Capitalized Interest
Account, which will be applied to cover potential
interest shortfalls during the Pre-funding Period due
to the pre-funding feature.
Monthly
Servicer Advances: The Servicer is required to advance scheduled principal
and interest (net of the Servicing Fee) for any
delinquent mortgage loan, but is not required to make
any advance which the Servicer deems to be
nonrecoverable.
Prepayment
Interest Shortfall: For any Distribution Date, with respect to any mortgage
loan prepaid in full during a prepayment period, the
difference between the interest that would have been
paid on the mortgage loan through the last day of the
month in which the liquidation or prepayment occurred
and interest actually received by the servicer with
respect to the mortgage loan, in each case net of the
servicing fee, except that month end interest does not
accrue with respect to a payment of a mortgage loan
during the period from first day of a month through the
last day of the prepayment period ending during the
month.
The Servicer will be obligated to pay from its own
funds Prepayment Interest Shortfalls for any prepayment
in full on a mortgage loan, but only to the extent of
the Servicing Fee for the related due period.
Greenwich Capital
--------------------------------------------------------------------------------
11
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
COMPUTATIONAL MATERIALS DISCLAIMER
The attached tables and other statistical analyses (the "Computational
Materials") are privileged and intended for use by the addressee only. These
Computational Materials have been prepared by Greenwich Capital Markets, Inc. in
reliance upon information furnished by the issuer of the securities and its
affiliates. These Computational Materials are furnished to you solely by
Greenwich Capital Markets, Inc. and not by the issuer of the securities. They
may not be provided to any third party other than the addressee's legal, tax,
financial and/or accounting advisors for the purposes of evaluating said
material.
Numerous assumptions were used in preparing the Computational Materials which
may or may not be reflected therein. As such, no assurance can be given as to
the Computational Materials' accuracy, appropriateness or completeness in any
particular context; nor as to whether the Computational Materials and/or the
assumptions upon which they are based reflect present market conditions or
future market performance. These Computational Materials should not be construed
as either projections or predictions or as legal, tax, financial or accounting
advice.
Any weighted average lives, yields and principal payment periods shown in the
Computational Materials are based on prepayments assumptions, and changes in
such prepayment assumptions may dramatically affect such weighted average lives,
yields and principal payment periods. In addition, it is possible that
prepayments on the underlying assets will occur at rates slower or faster than
the rates shown in the attached Computational Materials. Furthermore, unless
otherwise provided, the Computational Materials assume no losses on the
underlying assets and no interest shortfall. The specific characteristics of the
securities may differ from those shown in the Computational Materials due to
differences between the actual underlying assets and the hypothetical underlying
assets used in preparing the Computational Materials. The principal amount and
designation of any security described in the Computational Materials are subject
to change prior to issuance. Neither Greenwich Capital Markets, Inc. nor any of
its affiliates makes any representation or warranty as to the actual rate or
timing of payments on any of the underlying assets or the payments or yield on
the securities.
Although a registration statement (including the Prospectus) relating to the
securities discussed in this communication has been filed with the Securities
and Exchange Commission and is effective, the final prospectus supplement
relating to the securities discussed in this communication has not been filed
with Securities and Exchange Commission. This communication shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall there be any
sale of the securities discussed in this communication in any state in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification of such securities under the securities laws of any such state.
Prospective purchasers are referred to the final prospectus supplement relating
to the securities discussed in this communication for definitive Computational
Materials and any matter discussed in this communication. Once available, a
final prospectus and prospectus supplement may be obtained by contacting the
Greenwich Capital Markets, Inc. Trading Desk at (203) 625-6160.
Please be advised that the securities described herein may not be appropriate
for all investors. Potential investors must be willing to assume, among other
things, market price volatility, prepayment, yield curve and interest rate
risks. Investors should make every effort to consider the risks of these
securities.
If you have received this communication in error, please notify the sending
party immediately by telephone and return the original to such party by mail.
Greenwich Capital
--------------------------------------------------------------------------------
12
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
Saxon Asset Securities Trust (SAST) 2000-3: Group I
09/01/2000 SCHEDULED BALANCES
<TABLE>
<CAPTION>
FIXED/ARM: Fixed Rate
<S> <C>
TOTAL CURRENT BALANCE: 213,107,267.78
NUMBER OF LOANS: 2,565
AVG/WAVG MIN MAX
AVG CURRENT BALANCE: $83,082.76 $9,995.40 $599,697.00
WAVG GROSS COUPON: 11.363 % 7.375 16.875 %
WAVG CLTV: 77.19 % 11.11 100.00 %
WAVG ORIGINAL LTV: 74.72 % 4.62 96.12 %
WAVG FICO SCORE: 583 0 810
WAVG ORIGINAL TERM: 227 months 60 360 months
WAVG REMAINING TERM: 226 months 59 360 months
WAVG SEASONING: 1 months 0 20 months
TOP STATE CONC ($): 15.57 % California, 6.54 % Florida, 6.35 % Michigan
MAX ZIP CODE CONC ($): 0.40 % 98040 (Mercer Island, WA)
FIRST PAY DATE: Feb 01, 1999 Oct 01, 2000
MATURE DATE: Aug 01, 2005 Sep 01, 2030
</TABLE>
Greenwich Capital
--------------------------------------------------------------------------------
13
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
<TABLE>
<CAPTION>
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
<S> <C> <C> <C>
Current Balance ($):
9,995.40 - 25,000.00 136 2,860,161.98 1.34
25,000.01 - 50,000.00 703 27,119,521.29 12.73
50,000.01 - 75,000.00 649 40,392,047.99 18.95
75,000.01 - 100,000.00 387 33,875,541.76 15.90
100,000.01 - 125,000.00 275 30,986,203.97 14.54
125,000.01 - 150,000.00 161 21,887,298.74 10.27
150,000.01 - 175,000.00 86 13,935,084.74 6.54
175,000.01 - 200,000.00 58 10,918,727.52 5.12
200,000.01 - 225,000.00 37 7,821,911.40 3.67
225,000.01 - 250,000.00 15 3,574,072.00 1.68
250,000.01 - 275,000.00 13 3,436,038.05 1.61
275,000.01 - 300,000.00 14 4,020,032.88 1.89
300,000.01 - 325,000.00 7 2,176,148.02 1.02
325,000.01 - 350,000.00 9 3,047,568.95 1.43
350,000.01 - 375,000.00 2 723,851.31 0.34
375,000.01 - 400,000.00 5 1,977,353.80 0.93
400,000.01 - 425,000.00 1 409,132.92 0.19
475,000.01 - 500,000.00 1 499,531.56 0.23
500,000.01 - 525,000.00 1 524,729.90 0.25
550,000.01 - 575,000.00 1 554,817.69 0.26
575,000.01 - 599,697.00 4 2,367,491.31 1.11
</TABLE>
GREENWICH CAPITAL
--------------------------------------------------------------------------------
14
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
<TABLE>
<CAPTION>
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
<S> <C> <C> <C>
Current Interest Rates (%):
7.375 - 7.500 7 715,708.92 0.34
7.501 - 7.750 1 147,009.25 0.07
7.751 - 8.000 3 565,384.32 0.27
8.001 - 8.250 1 259,666.58 0.12
8.251 - 8.500 8 990,453.78 0.46
8.501 - 8.750 13 936,769.67 0.44
8.751 - 9.000 39 4,071,194.85 1.91
9.001 - 9.250 36 3,821,692.35 1.79
9.251 - 9.500 56 7,057,081.05 3.31
9.501 - 9.750 93 8,754,805.60 4.11
9.751 - 10.000 142 14,735,664.68 6.91
10.001 - 10.250 86 7,923,705.38 3.72
10.251 - 10.500 146 14,558,275.82 6.83
10.501 - 10.750 158 13,992,943.20 6.57
10.751 - 11.000 217 19,582,786.19 9.19
11.001 - 11.250 136 11,727,795.95 5.50
11.251 - 11.500 164 12,897,687.49 6.05
11.501 - 11.750 158 12,476,038.46 5.85
11.751 - 12.000 180 14,981,048.03 7.03
12.001 - 12.250 117 8,706,667.44 4.09
12.251 - 12.500 160 11,730,508.54 5.50
12.501 - 12.750 132 10,047,989.39 4.71
12.751 - 13.000 120 8,750,571.46 4.11
13.001 - 13.250 63 4,081,542.51 1.92
13.251 - 13.500 66 4,038,790.94 1.90
13.501 - 13.750 49 3,029,760.71 1.42
13.751 - 14.000 67 4,010,438.65 1.88
14.001 - 14.250 49 3,378,537.47 1.59
14.251 - 14.500 20 873,424.50 0.41
14.501 - 14.750 26 1,227,872.82 0.58
14.751 - 15.000 25 1,627,618.11 0.76
15.001 - 15.250 12 848,887.69 0.40
15.251 - 15.500 4 99,056.60 0.05
15.501 - 15.750 4 193,310.83 0.09
15.751 - 16.000 3 134,672.36 0.06
16.001 - 16.250 2 73,429.09 0.03
16.501 - 16.750 1 19,977.10 0.01
16.751 - 16.875 1 38,500.00 0.02
</TABLE>
GREENWICH CAPITAL
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15
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
<TABLE>
<CAPTION>
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
<S> <C> <C> <C>
Original Combined LTV (%):
11.11 - 15.00 2 84,939.84 0.04
15.01 - 20.00 5 152,852.38 0.07
20.01 - 25.00 11 517,593.15 0.24
25.01 - 30.00 17 628,181.37 0.29
30.01 - 35.00 17 1,214,734.14 0.57
35.01 - 40.00 29 1,460,476.30 0.69
40.01 - 45.00 31 1,719,174.49 0.81
45.01 - 50.00 78 3,710,288.90 1.74
50.01 - 55.00 59 4,100,584.23 1.92
55.01 - 60.00 87 5,559,634.08 2.61
60.01 - 65.00 166 13,572,633.74 6.37
65.01 - 70.00 252 21,893,469.63 10.27
70.01 - 75.00 305 26,620,281.84 12.49
75.01 - 80.00 606 52,711,846.40 24.73
80.01 - 85.00 382 33,234,574.60 15.60
85.01 - 90.00 435 39,639,136.92 18.60
90.01 - 95.00 45 4,805,547.93 2.25
95.01 - 100.00 38 1,481,317.84 0.70
Remaining Term (Months):
59 - 60 10 183,809.54 0.09
109 - 120 30 1,094,521.44 0.51
133 - 144 8 328,545.53 0.15
157 - 168 7 216,375.02 0.10
169 - 180 1,842 152,096,765.80 71.37
229 - 240 66 3,837,606.65 1.80
289 - 300 3 151,800.00 0.07
337 - 348 1 347,766.39 0.16
349 - 360 598 54,850,077.41 25.74
Occupancy Type:
Primary 2,364 199,922,647.60 93.81
Investor 187 11,744,011.55 5.51
Second Home 14 1,440,608.63 0.68
Documentation Type:
Full Documentation 2,133 170,387,330.41 79.95
Stated Documentation 302 29,916,804.43 14.04
Limited Documentation 101 11,525,233.68 5.41
No Ratio 29 1,277,899.26 0.60
</TABLE>
GREENWICH CAPITAL
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16
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
Loan Purpose:
Cash Out Refinance 1,723 135,097,146.24 63.39
Purchase 626 57,121,255.46 26.80
Refinance 216 20,888,866.08 9.80
Property Type:
Single Family Detached 2,107 174,218,348.10 81.75
Two-Four Family 125 12,053,228.15 5.66
PUD 73 8,445,054.72 3.96
Condo Low-Rise 92 7,211,331.41 3.38
Manufactured Housing 79 5,219,619.92 2.45
Single Family Attached 57 3,233,450.81 1.52
Townhouse 21 1,486,396.42 0.70
Condo High-Rise 10 1,183,072.76 0.56
Deminimus PUD 1 56,765.49 0.03
Loan Types:
BALLOON 15/30 1,555 137,766,074.86 64.65
Fixed Rate 10 Year 30 1,094,521.44 0.51
Fixed Rate 12 Year 8 328,545.53 0.15
Fixed Rate 15 Year 294 14,547,065.96 6.83
Fixed Rate 20 Year 66 3,837,606.65 1.80
Fixed Rate 25 Year 3 151,800.00 0.07
Fixed Rate 30 Year 599 55,197,843.80 25.90
Fixed Rate 5 Year 10 183,809.54 0.09
GREEENWICH CAPITAL
--------------------------------------------------------------------------------
17
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
CURRENT
State Distribution: # OF LOANS PRINCIPAL BAL ($) PCT($)
Alaska 13 1,427,125.27 0.67
Arizona 41 3,230,590.75 1.52
Arkansas 19 1,111,723.67 0.52
California 281 33,176,307.28 15.57
Colorado 49 5,509,065.19 2.59
Connecticut 43 4,520,315.84 2.12
Delaware 19 1,923,769.47 0.90
District of Columbia 3 266,759.89 0.13
Florida 177 13,926,745.15 6.54
Georgia 140 11,166,458.06 5.24
Hawaii 8 1,049,452.77 0.49
Idaho 15 1,798,092.64 0.84
Illinois 135 10,779,328.10 5.06
Indiana 103 5,782,147.76 2.71
Iowa 34 2,439,425.29 1.14
Kansas 22 1,401,746.48 0.66
Kentucky 60 3,998,052.03 1.88
Louisiana 80 5,641,527.08 2.65
Maine 5 312,054.09 0.15
Maryland 48 4,856,605.29 2.28
Massachusetts 7 1,089,603.37 0.51
Michigan 191 13,541,264.62 6.35
Minnesota 49 4,187,183.63 1.96
Mississippi 37 2,117,133.65 0.99
Missouri 64 4,365,447.08 2.05
Montana 4 316,177.09 0.15
Nebraska 9 415,182.58 0.19
Nevada 7 874,683.80 0.41
New Hampshire 6 566,802.95 0.27
New Jersey 73 7,479,790.27 3.51
New Mexico 13 1,379,066.85 0.65
New York 39 4,260,554.13 2.00
North Carolina 29 2,508,935.43 1.18
North Dakota 1 34,000.00 0.02
Ohio 111 8,000,358.97 3.75
Oklahoma 60 3,760,450.75 1.76
GREEENWICH CAPITAL
--------------------------------------------------------------------------------
18
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
State Distribution (Continued):
Oregon 28 3,018,267.11 1.42
Pennsylvania 131 9,569,524.98 4.49
Rhode Island 4 433,079.96 0.20
South Carolina 14 830,651.64 0.39
South Dakota 3 194,703.37 0.09
Tennessee 79 4,827,224.06 2.27
Texas 121 8,262,545.72 3.88
Utah 14 1,736,949.38 0.82
Vermont 2 179,163.90 0.08
Virginia 83 6,089,511.59 2.86
Washington 45 5,363,335.05 2.52
West Virginia 10 607,199.17 0.28
Wisconsin 35 2,718,035.04 1.28
Wyoming 1 63,149.54 0.03
Credit Grade:
A 367 29,108,561.34 13.66
A+ 183 18,006,695.59 8.45
A- 941 83,655,191.99 39.25
B 585 47,445,547.09 22.26
C 377 26,434,802.15 12.40
D 112 8,456,469.62 3.97
Balloon Flag:
Balloon 1,555 137,766,074.86 64.65
Fully Amortizing 1,010 75,341,192.92 35.35
GREENWICH CAPITAL
--------------------------------------------------------------------------------
19
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
Lien Position:
First Lien 2,362 203,945,421.96 95.70
Second Lien 203 9,161,845.82 4.30
Prepay Term (Months):
0 541 40,598,424.86 19.05
12 47 4,438,005.97 2.08
24 34 3,685,163.58 1.73
30 1 34,000.00 0.02
36 487 45,210,940.38 21.22
42 9 847,394.77 0.40
48 9 1,032,014.91 0.48
60 1,437 117,261,323.31 55.02
GREENWICH CAPITAL
--------------------------------------------------------------------------------
20
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
Saxon Asset Securities Trust (SAST) 2000-3: Group II Subgroup A
09/01/2000 SCHEDULED BALANCES
<TABLE>
<S> <C> <C> <C>
FIXED/ARM: ARM
TOTAL CURRENT BALANCE: 100,000,111.85
NUMBER OF LOANS: 955
AVG/WAVG MIN MAX
AVG ORIGINAL BALANCE: $104,803.74 $18,900.00 $350,000.00
AVG CURRENT BALANCE: $104,712.16 $18,895.42 $349,836.70
WAVG GROSS COUPON: 10.857% 7.875 15.990%
WAVG GROSS MARGIN: 6.313% 2.500 9.490%
WAVG FIRST PERIOD RATE CAP: 2.185% 1.000 3.000%
WAVG PERIOD RATE CAP: 1.153% 1.000 3.000%
WAVG LIFE FLOOR: 10.788% 6.000 15.990%
WAVG LIFE CAP: 17.295% 13.875 21.990%
WAVG CLTV: 77.88% 13.33 95.00%
WAVG FICO SCORE: 572 0 803
WAVG MONTHS TO ROLL: 27.86 months 3.00 36.00 months
WAVG ORIGINAL TERM: 360 months 360 360 months
WAVG REMAINING TERM: 358 months 346 360 months
WAVG SEASONING: 2 months 0 14 months
TOP STATE CONC ($): 26.62% California, 7.19% Illinois, 5.88% Colorado
MAX ZIP CODE CONC ($): 0.52% 94544 (Hayward, CA)
FIRST PAY DATE: Aug 01, 1999 Oct 01, 2000
MATURE DATE: Jul 01, 2029 Sep 01, 2030
</TABLE>
Greenwich Capital
--------------------------------------------------------------------------------
21
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
Current Balance ($):
18,895.42 - 25,000.00 5 102,662.78 0.10
25,000.01 - 50,000.00 136 5,374,911.32 5.37
50,000.01 - 75,000.00 225 14,015,938.85 14.02
75,000.01 - 100,000.00 158 13,795,556.10 13.80
100,000.01 - 125,000.00 124 13,899,242.24 13.90
125,000.01 - 150,000.00 121 16,506,280.25 16.51
150,000.01 - 175,000.00 60 9,691,941.52 9.69
175,000.01 - 200,000.00 53 9,893,909.72 9.89
200,000.01 - 225,000.00 40 8,517,283.22 8.52
225,000.01 - 250,000.00 25 6,038,547.80 6.04
250,000.01 - 275,000.00 6 1,526,333.96 1.53
275,000.01 - 300,000.00 1 287,667.39 0.29
325,000.01 - 349,836.70 1 349,836.70 0.35
Greenwich Capital
--------------------------------------------------------------------------------
22
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
Current Interest Rates (%):
7.875 - 8.000 2 445,394.17 0.45
8.001 - 8.250 2 200,414.13 0.20
8.251 - 8.500 4 638,615.53 0.64
8.501 - 8.750 7 978,812.66 0.98
8.751 - 9.000 20 2,257,551.94 2.26
9.001 - 9.250 16 1,782,967.50 1.78
9.251 - 9.500 35 4,669,270.59 4.67
9.501 - 9.750 36 4,886,512.14 4.89
9.751 - 10.000 82 9,995,562.49 10.00
10.001 - 10.250 61 7,097,293.08 7.10
10.251 - 10.500 98 11,906,258.08 11.91
10.501 - 10.750 65 7,354,159.67 7.35
10.751 - 11.000 88 8,773,112.41 8.77
11.001 - 11.250 59 4,925,699.88 4.93
11.251 - 11.500 80 8,532,346.80 8.53
11.501 - 11.750 64 5,824,066.53 5.82
11.751 - 12.000 71 6,205,144.81 6.21
12.001 - 12.250 33 3,342,426.55 3.34
12.251 - 12.500 42 3,374,100.02 3.37
12.501 - 12.750 27 1,818,270.30 1.82
12.751 - 13.000 16 1,268,637.95 1.27
13.001 - 13.250 16 1,268,489.06 1.27
13.251 - 13.500 11 861,237.76 0.86
13.501 - 13.750 6 528,611.86 0.53
13.751 - 14.000 5 327,911.28 0.33
14.001 - 14.250 2 92,574.74 0.09
14.251 - 14.500 1 55,990.92 0.06
14.501 - 14.750 3 290,545.98 0.29
14.751 - 15.000 2 181,173.76 0.18
15.751 - 15.990 1 116,959.26 0.12
Greenwich Capital
--------------------------------------------------------------------------------
23
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
Original LTV (%):
13.33 - 15.00 2 90,948.52 0.09
20.01 - 25.00 1 26,487.48 0.03
25.01 - 30.00 1 87,970.22 0.09
30.01 - 35.00 2 139,919.35 0.14
35.01 - 40.00 7 453,777.16 0.45
40.01 - 45.00 8 909,364.74 0.91
45.01 - 50.00 10 813,550.65 0.81
50.01 - 55.00 16 1,364,497.54 1.36
55.01 - 60.00 32 2,875,042.58 2.88
60.01 - 65.00 60 5,592,308.07 5.59
65.01 - 70.00 128 11,925,487.70 11.93
70.01 - 75.00 130 11,808,086.98 11.81
75.01 - 80.00 244 26,845,974.74 26.85
80.01 - 85.00 156 17,850,603.59 17.85
85.01 - 90.00 155 18,810,235.18 18.81
90.01 - 95.00 3 405,857.35 0.41
Remaining Term (Months):
346 - 348 1 44,312.29 0.04
349 - 360 954 99,955,799.56 99.96
Greenwich Capital
--------------------------------------------------------------------------------
24
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
Gross Margin (%):
2.500 - 2.500 1 212,550.52 0.21
3.251 - 3.500 1 96,954.75 0.10
3.751 - 4.000 1 27,000.00 0.03
4.001 - 4.250 6 825,054.97 0.83
4.251 - 4.500 19 2,028,449.86 2.03
4.501 - 4.750 6 791,908.47 0.79
4.751 - 5.000 30 2,824,556.63 2.82
5.001 - 5.250 45 5,713,698.59 5.71
5.251 - 5.500 68 8,400,285.07 8.40
5.501 - 5.750 71 8,173,318.43 8.17
5.751 - 6.000 138 15,088,445.08 15.09
6.001 - 6.250 64 6,902,523.77 6.90
6.251 - 6.500 100 10,344,695.42 10.34
6.501 - 6.750 80 7,979,044.67 7.98
6.751 - 7.000 101 10,388,594.26 10.39
7.001 - 7.250 75 7,072,553.49 7.07
7.251 - 7.500 51 4,934,815.60 4.93
7.501 - 7.750 22 1,915,561.38 1.92
7.751 - 8.000 31 2,472,916.85 2.47
8.001 - 8.250 18 1,852,783.26 1.85
8.251 - 8.500 5 284,820.14 0.28
8.501 - 8.750 8 444,472.73 0.44
8.751 - 9.000 8 578,034.96 0.58
9.001 - 9.250 3 460,769.59 0.46
9.251 - 9.490 3 186,303.36 0.19
Greenwich Capital
--------------------------------------------------------------------------------
25
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
Lifetime Rate Cap (%):
13.875 - 14.000 2 445,394.17 0.45
14.001 - 14.250 1 59,882.05 0.06
14.251 - 14.500 2 318,011.31 0.32
14.501 - 14.750 6 889,474.23 0.89
14.751 - 15.000 18 1,939,660.03 1.94
15.001 - 15.250 11 1,337,919.71 1.34
15.251 - 15.500 26 3,423,157.81 3.42
15.501 - 15.750 25 3,357,384.44 3.36
15.751 - 16.000 53 6,311,855.22 6.31
16.001 - 16.250 41 4,453,031.48 4.45
16.251 - 16.500 77 9,526,832.91 9.53
16.501 - 16.750 50 5,805,757.79 5.81
16.751 - 17.000 86 9,360,064.18 9.36
17.001 - 17.250 60 6,052,093.01 6.05
17.251 - 17.500 72 7,858,281.81 7.86
17.501 - 17.750 67 6,385,357.23 6.39
17.751 - 18.000 74 6,408,083.36 6.41
18.001 - 18.250 40 3,281,873.70 3.28
18.251 - 18.500 61 6,163,623.72 6.16
18.501 - 18.750 33 3,072,992.02 3.07
18.751 - 19.000 35 3,617,202.36 3.62
19.001 - 19.250 23 2,413,090.66 2.41
19.251 - 19.500 24 1,977,892.31 1.98
19.501 - 19.750 20 1,483,847.36 1.48
19.751 - 20.000 13 1,050,699.63 1.05
20.001 - 20.250 12 1,068,981.93 1.07
20.251 - 20.500 8 714,028.91 0.71
20.501 - 20.750 4 395,620.09 0.40
20.751 - 21.000 5 321,529.86 0.32
21.001 - 21.250 1 42,992.40 0.04
21.251 - 21.500 1 55,990.92 0.06
21.501 - 21.750 3 290,545.98 0.29
21.751 - 21.990 1 116,959.26 0.12
Greenwich Capital
--------------------------------------------------------------------------------
26
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
Lifetime Rate Floor (%):
6.000 - 6.000 1 206,331.27 0.21
6.501 - 6.750 1 180,405.00 0.18
6.751 - 7.000 1 83,505.92 0.08
7.251 - 7.500 2 465,237.84 0.47
7.501 - 7.750 1 122,285.32 0.12
7.751 - 8.000 5 764,125.57 0.76
8.001 - 8.250 6 507,184.18 0.51
8.251 - 8.500 5 707,015.53 0.71
8.501 - 8.750 12 1,519,512.70 1.52
8.751 - 9.000 20 2,214,002.89 2.21
9.001 - 9.250 19 2,057,161.98 2.06
9.251 - 9.500 34 4,305,665.61 4.31
9.501 - 9.750 35 4,764,226.82 4.76
9.751 - 10.000 79 9,676,831.09 9.68
10.001 - 10.250 57 6,790,523.03 6.79
10.251 - 10.500 98 11,955,172.70 11.96
10.501 - 10.750 59 6,633,054.63 6.63
10.751 - 11.000 87 8,733,155.54 8.73
11.001 - 11.250 56 4,651,505.40 4.65
11.251 - 11.500 79 8,430,713.94 8.43
11.501 - 11.750 64 5,824,066.53 5.82
11.751 - 12.000 70 5,998,813.54 6.00
12.001 - 12.250 33 3,342,426.55 3.34
12.251 - 12.500 41 3,256,785.40 3.26
12.501 - 12.750 27 1,818,270.30 1.82
12.751 - 13.000 17 1,289,837.95 1.29
13.001 - 13.250 16 1,268,489.06 1.27
13.251 - 13.500 11 861,237.76 0.86
13.501 - 13.750 6 528,611.86 0.53
13.751 - 14.000 4 306,711.28 0.31
14.001 - 14.250 2 92,574.74 0.09
14.251 - 14.500 1 55,990.92 0.06
14.501 - 14.750 3 290,545.98 0.29
14.751 - 15.000 2 181,173.76 0.18
15.751 - 15.990 1 116,959.26 0.12
Greenwich Capital
--------------------------------------------------------------------------------
27
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
Next Rate Adjust Date:
Dec 2000 1 153,793.45 0.15
Jun 2001 1 160,779.91 0.16
Jul 2001 2 173,059.44 0.17
Nov 2001 2 141,941.67 0.14
Jan 2002 1 126,448.67 0.13
Feb 2002 2 318,704.51 0.32
Mar 2002 7 699,529.32 0.70
Apr 2002 9 1,132,729.35 1.13
May 2002 18 1,356,983.19 1.36
Jun 2002 83 8,595,112.04 8.60
Jul 2002 177 18,159,676.35 18.16
Aug 2002 151 15,011,585.90 15.01
Sep 2002 54 5,806,975.00 5.81
Oct 2002 1 42,166.71 0.04
Dec 2002 4 338,816.64 0.34
Jan 2003 3 316,830.62 0.32
Feb 2003 3 423,165.15 0.42
Mar 2003 4 559,327.89 0.56
Apr 2003 4 382,438.87 0.38
May 2003 16 1,533,067.78 1.53
Jun 2003 75 8,385,169.54 8.39
Jul 2003 128 12,839,728.13 12.84
Aug 2003 142 15,709,381.72 15.71
Sep 2003 67 7,632,700.00 7.63
Occupancy Type:
Primary 896 95,485,484.01 95.49
Investor 58 4,448,786.10 4.45
Second Home 1 65,841.74 0.07
Documentation Type:
Full Documentation 725 74,476,255.23 74.48
Stated Documentation 183 20,385,562.02 20.39
Limited Documentation 45 5,061,324.05 5.06
No Ratio 2 76,970.55 0.08
Loan Purpose:
Cash Out Refinance 508 52,431,316.78 52.43
Purchase 342 36,048,299.69 36.05
Refinance 105 11,520,495.38 11.52
Greenwich Capital
--------------------------------------------------------------------------------
28
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
Property Type:
Single Family Detached 743 78,010,729.31 78.01
PUD 58 7,832,214.91 7.83
Two-Four Family 58 6,175,134.93 6.18
Condo Low-Rise 52 4,782,354.28 4.78
Manufactured Housing 19 1,338,864.04 1.34
Single Family Attached 15 998,656.38 1.00
Condo High-Rise 5 455,626.96 0.46
Townhouse 4 329,191.04 0.33
Deminimus PUD 1 77,340.00 0.08
Loan Types:
1 YR CMT 2 289,527.06 0.29
2/28 6 Mo LIBOR ARM 505 51,393,998.29 51.39
3/1 ARM 2 264,874.50 0.26
3/27 6 Mo LIBOR ARM 445 47,897,918.55 47.90
6 Mo LIBOR ARM 30 Yr 1 153,793.45 0.15
Index:
1 YR CMT 4 554,401.56 0.55
6 MO LIBOR 951 99,445,710.29 99.45
Greenwich Capital
--------------------------------------------------------------------------------
29
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
State Distribution:
Alaska 3 275,783.14 0.28
Arizona 17 2,068,113.05 2.07
Arkansas 5 281,555.88 0.28
California 178 26,616,544.68 26.62
Colorado 47 5,883,583.78 5.88
Connecticut 15 1,571,298.17 1.57
Delaware 2 92,794.52 0.09
District of Columbia 2 188,802.89 0.19
Florida 58 5,615,115.14 5.62
Georgia 24 2,799,315.99 2.80
Hawaii 8 1,438,392.71 1.44
Idaho 3 308,721.34 0.31
Illinois 73 7,192,070.35 7.19
Indiana 31 2,408,059.41 2.41
Iowa 15 930,230.91 0.93
Kansas 8 668,737.83 0.67
Kentucky 13 793,149.68 0.79
Louisiana 11 1,062,808.06 1.06
Maryland 7 579,525.92 0.58
Massachusetts 5 574,959.51 0.57
Michigan 59 4,483,204.16 4.48
Minnesota 27 2,518,571.07 2.52
Mississippi 6 369,166.48 0.37
Missouri 15 1,085,735.98 1.09
Nebraska 3 200,747.69 0.20
Nevada 13 1,515,808.41 1.52
New Jersey 14 1,360,514.91 1.36
New Mexico 4 369,790.80 0.37
New York 7 1,072,877.38 1.07
North Carolina 18 1,488,343.66 1.49
Ohio 53 3,936,427.34 3.94
Oklahoma 13 905,259.48 0.91
Oregon 18 2,086,898.43 2.09
Pennsylvania 42 2,998,294.22 3.00
Rhode Island 1 31,349.42 0.03
Greenwich Capital
--------------------------------------------------------------------------------
30
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
State Distribution (Continued):
South Carolina 3 222,306.76 0.22
Tennessee 24 1,888,673.12 1.89
Texas 35 3,378,115.29 3.38
Utah 15 1,876,994.85 1.88
Vermont 1 131,400.00 0.13
Virginia 9 996,838.18 1.00
Washington 37 4,728,605.20 4.73
West Virginia 3 253,551.53 0.25
Wisconsin 10 751,074.53 0.75
Credit Grade:
A 28 2,984,728.61 2.98
A+ 19 2,211,783.42 2.21
A- 357 41,799,591.72 41.80
B 259 27,427,879.84 27.43
C 215 18,789,877.99 18.79
D 77 6,786,250.27 6.79
Lien Position:
First Lien 955 100,000,111.85 100.00
Prepay Term:
0 132 13,462,839.23 13.46
12 11 1,550,558.69 1.55
24 282 30,506,539.08 30.51
36 395 41,495,511.89 41.50
48 3 348,505.48 0.35
60 132 12,636,157.48 12.64
Greenwich Capital
--------------------------------------------------------------------------------
31
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
Saxon Asset Securities Trust (SAST) 2000-3: Group II Subgroup B
09/01/2000 SCHEDULED BALANCES
<TABLE>
<CAPTION>
FIXED/ARM: ARM
<S> <C> <C> <C>
TOTAL CURRENT BALANCE: 109,649,438.68
NUMBER OF LOANS: 746
AVG/WAVG MIN MAX
AVG ORIGINAL BALANCE: $147,141.99 $20,000.00 $750,000.00
AVG CURRENT BALANCE: $146,983.16 $19,995.16 $749,417.23
WAVG GROSS COUPON: 10.734 % 8.150 14.875 %
WAVG GROSS MARGIN: 6.237 % 4.000 9.990 %
WAVG INITAL RATE CAP: 2.166 % 1.000 3.000 %
WAVG PERIOD RATE CAP: 1.172 % 1.000 3.000 %
WAVG LIFE FLOOR: 10.662 % 6.125 14.875 %
WAVG LIFE CAP: 17.216 % 14.150 21.875 %
WAVG CORIGINAL LTV: 77.13 % 4.98 95.00 %
WAVG FICO SCORE: 579 0 799
WAVG MONTHS TO ROLL: 28.13 months 10.00 57.00 months
WAVG ORIGINAL TERM: 360 months 360 360 months
WAVG REMAINING TERM: 358 months 346 360 months
WAVG SEASONING: 2 months 0 14 months
TOP STATE CONC ($): 41.49 % California, 6.97 % Illinois, 4.14 % Washington
MAX ZIP CODE CONC ($): 0.98 % 94509 (Antioch, CA)
FIRST PAY DATE: Aug 01, 1999 Oct 01, 2000
MATURE DATE: Jul 01, 2029 Sep 01, 2030
</TABLE>
Greenwich Capital
--------------------------------------------------------------------------------
32
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
Current Balance ($):
19,995.16 - 25,000.00 5 115,350.33 0.11
25,000.01 - 50,000.00 88 3,683,603.63 3.36
50,000.01 - 75,000.00 119 7,554,033.49 6.89
75,000.01 - 100,000.00 115 10,111,666.53 9.22
100,000.01 - 125,000.00 98 10,872,124.98 9.92
125,000.01 - 150,000.00 77 10,543,156.61 9.62
150,000.01 - 175,000.00 43 6,918,280.91 6.31
175,000.01 - 200,000.00 33 6,202,697.71 5.66
200,000.01 - 225,000.00 23 4,846,041.27 4.42
225,000.01 - 250,000.00 14 3,340,950.73 3.05
250,000.01 - 275,000.00 24 6,367,155.84 5.81
275,000.01 - 300,000.00 31 8,925,459.98 8.14
300,000.01 - 325,000.00 22 6,910,532.68 6.30
325,000.01 - 350,000.00 18 6,071,138.76 5.54
350,000.01 - 375,000.00 10 3,654,285.46 3.33
375,000.01 - 400,000.00 2 773,786.49 0.71
400,000.01 - 425,000.00 2 831,368.92 0.76
425,000.01 - 450,000.00 3 1,301,720.32 1.19
450,000.01 - 475,000.00 6 2,807,386.89 2.56
475,000.01 - 500,000.00 1 496,590.26 0.45
500,000.01 - 525,000.00 1 520,646.57 0.47
525,000.01 - 550,000.00 2 1,054,880.68 0.96
550,000.01 - 575,000.00 2 1,128,806.55 1.03
575,000.01 - 600,000.00 2 1,178,739.91 1.08
625,000.01 - 650,000.00 1 630,000.00 0.57
675,000.01 - 700,000.00 3 2,059,615.95 1.88
725,000.01 - 749,417.23 1 749,417.23 0.68
Greenwich Capital
--------------------------------------------------------------------------------
33
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
Current Interest Rates (%):
8.150 - 8.250 3 392,191.47 0.36
8.251 - 8.500 2 596,824.05 0.54
8.501 - 8.750 3 743,187.71 0.68
8.751 - 9.000 20 3,806,083.25 3.47
9.001 - 9.250 11 2,156,636.32 1.97
9.251 - 9.500 34 5,672,568.70 5.17
9.501 - 9.750 39 6,307,824.15 5.75
9.751 - 10.000 74 12,446,370.87 11.35
10.001 - 10.250 47 7,017,915.27 6.40
10.251 - 10.500 67 11,687,208.70 10.66
10.501 - 10.750 62 8,786,277.30 8.01
10.751 - 11.000 87 13,828,976.90 12.61
11.001 - 11.250 46 7,353,334.02 6.71
11.251 - 11.500 50 6,406,533.28 5.84
11.501 - 11.750 44 4,786,735.36 4.37
11.751 - 12.000 52 5,739,837.06 5.23
12.001 - 12.250 24 3,120,824.51 2.85
12.251 - 12.500 31 3,371,237.09 3.07
12.501 - 12.750 22 2,264,940.10 2.07
12.751 - 13.000 8 679,389.91 0.62
13.251 - 13.500 10 912,207.92 0.83
13.501 - 13.750 4 1,011,351.78 0.92
13.751 - 14.000 1 59,489.01 0.05
14.001 - 14.250 2 339,018.86 0.31
14.251 - 14.500 1 24,496.02 0.02
14.501 - 14.750 1 45,492.83 0.04
14.751 - 14.875 1 92,486.24 0.08
Greenwich Capital
--------------------------------------------------------------------------------
34
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
Original LTV (%):
4.98 - 5.00 1 104,453.67 0.10
5.01 - 10.00 1 44,953.17 0.04
15.01 - 20.00 1 49,961.15 0.05
20.01 - 25.00 2 57,427.80 0.05
35.01 - 40.00 3 194,143.63 0.18
40.01 - 45.00 4 630,761.54 0.58
45.01 - 50.00 10 1,590,065.87 1.45
50.01 - 55.00 9 1,177,883.87 1.07
55.01 - 60.00 24 2,536,430.97 2.31
60.01 - 65.00 42 7,211,700.93 6.58
65.01 - 70.00 76 12,366,219.12 11.28
70.01 - 75.00 122 18,352,113.50 16.74
75.01 - 80.00 219 33,037,428.83 30.13
80.01 - 85.00 118 15,997,282.88 14.59
85.01 - 90.00 113 16,184,667.82 14.76
90.01 - 95.00 1 113,943.93 0.10
Remaining Term (Months):
346 - 348 3 225,229.62 0.21
349 - 360 743 109,424,209.06 99.79
Greenwich Capital
--------------------------------------------------------------------------------
35
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
Gross Margin (%):
4.000 - 4.000 1 360,256.84 0.33
4.001 - 4.250 5 981,438.32 0.90
4.251 - 4.500 13 3,396,524.06 3.10
4.501 - 4.750 6 1,656,156.82 1.51
4.751 - 5.000 33 7,382,667.44 6.73
5.001 - 5.250 56 9,360,275.71 8.54
5.251 - 5.500 41 5,975,478.50 5.45
5.501 - 5.750 45 6,203,312.18 5.66
5.751 - 6.000 87 11,693,214.03 10.66
6.001 - 6.250 52 7,666,507.36 6.99
6.251 - 6.500 94 13,349,363.10 12.17
6.501 - 6.750 69 9,382,817.70 8.56
6.751 - 7.000 89 13,074,295.20 11.92
7.001 - 7.250 52 6,607,565.12 6.03
7.251 - 7.500 38 4,433,687.53 4.04
7.501 - 7.750 12 2,099,624.52 1.91
7.751 - 8.000 26 2,816,090.40 2.57
8.001 - 8.250 12 1,862,103.15 1.70
8.251 - 8.500 6 535,269.40 0.49
8.501 - 8.750 1 43,975.52 0.04
8.751 - 9.000 5 523,460.76 0.48
9.001 - 9.250 2 212,222.58 0.19
9.751 - 9.990 1 33,132.44 0.03
Greenwich Capital
--------------------------------------------------------------------------------
36
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
<TABLE>
<CAPTION>
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
<S> <C> <C> <C>
Lifetime Rate Cap (%):
14.150 - 14.250 1 62,618.10 0.06
14.251 - 14.500 1 265,932.05 0.24
14.501 - 14.750 2 423,758.59 0.39
14.751 - 15.000 15 2,814,181.73 2.57
15.001 - 15.250 12 2,333,370.60 2.13
15.251 - 15.500 27 4,658,012.23 4.25
15.501 - 15.750 33 5,252,002.77 4.79
15.751 - 16.000 50 8,546,973.93 7.79
16.001 - 16.250 32 4,695,753.73 4.28
16.251 - 16.500 41 6,660,464.41 6.07
16.501 - 16.750 39 5,740,260.12 5.24
16.751 - 17.000 72 10,569,887.02 9.64
17.001 - 17.250 33 4,877,688.56 4.45
17.251 - 17.500 59 9,589,238.09 8.75
17.501 - 17.750 59 7,394,452.20 6.74
17.751 - 18.000 72 10,662,589.44 9.72
18.001 - 18.250 39 6,109,226.58 5.57
18.251 - 18.500 36 4,280,399.74 3.90
18.501 - 18.750 22 2,338,662.10 2.13
18.751 - 19.000 29 3,692,091.03 3.37
19.001 - 19.250 14 1,962,244.02 1.79
19.251 - 19.500 21 2,326,056.51 2.12
19.501 - 19.750 16 1,896,532.63 1.73
19.751 - 20.000 3 214,934.84 0.20
20.001 - 20.250 1 52,620.23 0.05
20.251 - 20.500 9 866,476.71 0.79
20.501 - 20.750 3 854,647.99 0.78
20.751 - 21.000 1 59,489.01 0.05
21.001 - 21.250 1 286,398.63 0.26
21.251 - 21.500 1 24,496.02 0.02
21.501 - 21.750 1 45,492.83 0.04
21.751 - 21.875 1 92,486.24 0.08
</TABLE>
Greenwich Capital
--------------------------------------------------------------------------------
37
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
<TABLE>
<CAPTION>
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
<S> <C> <C> <C>
Lifetime Rate Cap (%):
6.125 - 6.250 1 109,548.81 0.10
6.251 - 6.500 1 221,259.87 0.20
7.251 - 7.500 3 447,198.15 0.41
7.501 - 7.750 2 91,457.03 0.08
7.751 - 8.000 5 663,619.02 0.61
8.001 - 8.250 6 836,681.98 0.76
8.251 - 8.500 5 1,250,929.16 1.14
8.501 - 8.750 5 990,039.49 0.90
8.751 - 9.000 21 4,485,834.10 4.09
9.001 - 9.250 11 2,156,636.32 1.97
9.251 - 9.500 32 5,337,364.90 4.87
9.501 - 9.750 36 6,106,818.31 5.57
9.751 - 10.000 70 11,832,713.00 10.79
10.001 - 10.250 44 6,573,424.76 5.99
10.251 - 10.500 64 11,033,103.59 10.06
10.501 - 10.750 59 8,489,464.37 7.74
10.751 - 11.000 84 12,815,971.83 11.69
11.001 - 11.250 46 7,353,334.02 6.71
11.251 - 11.500 50 6,406,533.28 5.84
11.501 - 11.750 44 4,786,735.36 4.37
11.751 - 12.000 52 5,739,837.06 5.23
12.001 - 12.250 24 3,120,824.51 2.85
12.251 - 12.500 31 3,371,237.09 3.07
12.501 - 12.750 22 2,264,940.10 2.07
12.751 - 13.000 8 679,389.91 0.62
13.251 - 13.500 10 912,207.92 0.83
13.501 - 13.750 4 1,011,351.78 0.92
13.751 - 14.000 1 59,489.01 0.05
14.001 - 14.250 2 339,018.86 0.31
14.251 - 14.500 1 24,496.02 0.02
14.501 - 14.750 1 45,492.83 0.04
14.751 - 14.875 1 92,486.24 0.08
</TABLE>
Greenwich Capital
--------------------------------------------------------------------------------
38
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
<TABLE>
<CAPTION>
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
<S> <C> <C> <C>
Next Rate Adjust Date:
Jul 2001 1 87,602.60 0.08
Aug 2001 2 137,627.02 0.13
Dec 2001 1 134,350.38 0.12
Mar 2002 4 516,280.86 0.47
Apr 2002 10 1,586,127.58 1.45
May 2002 15 1,332,790.16 1.22
Jun 2002 68 9,600,412.45 8.76
Jul 2002 141 19,611,334.90 17.89
Aug 2002 126 18,399,411.66 16.78
Sep 2002 37 4,384,740.00 4.00
Dec 2002 1 374,746.74 0.34
Jan 2003 3 335,140.22 0.31
Mar 2003 3 520,256.76 0.47
Apr 2003 3 486,675.61 0.44
May 2003 11 1,051,089.77 0.96
Jun 2003 44 7,015,174.86 6.40
Jul 2003 99 15,442,014.40 14.08
Aug 2003 131 20,570,684.06 18.76
Sep 2003 45 7,951,510.00 7.25
Jun 2005 1 111,468.65 0.10
Occupancy Type:
Primary 705 105,771,016.32 96.46
Investor 38 3,587,286.40 3.27
Second Home 3 291,135.96 0.27
Documentation Type:
Full Documentation 529 69,640,128.53 63.51
Stated Documentation 165 27,645,698.31 25.21
Limited Documentation 52 12,363,611.84 11.28
Loan Purpose:
Cash Out Refinance 394 58,405,162.73 53.27
Purchase 290 43,319,088.93 39.51
Refinance 62 7,925,187.02 7.23
</TABLE>
Greenwich Capital
--------------------------------------------------------------------------------
39
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
<TABLE>
<CAPTION>
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
<S> <C> <C> <C>
Property Type:
Single Family Detached 613 91,659,349.50 83.59
PUD 50 9,270,129.28 8.45
Condo Low-Rise 32 3,204,459.33 2.92
Two-Four Family 25 2,626,844.10 2.40
Single Family Attached 12 1,740,970.85 1.59
Manufactured Housing 9 728,079.46 0.66
Townhouse 3 266,051.65 0.24
Condo High-Rise 2 153,554.51 0.14
Loan Types:
2/28 6 Mo LIBOR ARM 405 55,790,677.61 50.88
3/27 6 Mo LIBOR ARM 340 53,747,292.42 49.02
5/25 6 Mo LIBOR ARM 1 111,468.65 0.10
Index:
6 MO LIBOR 746 109,649,438.68 100.00
State Distribution:
Alaska 2 141,866.42 0.13
Arizona 16 2,379,385.67 2.17
Arkansas 1 35,987.44 0.03
California 213 45,494,817.48 41.49
Colorado 26 4,196,448.97 3.83
Connecticut 22 3,523,771.03 3.21
Delaware 2 265,885.27 0.24
District of Columbia 1 66,876.70 0.06
Florida 30 3,918,639.91 3.57
Georgia 9 1,912,943.41 1.74
Hawaii 2 408,080.86 0.37
Idaho 2 137,419.06 0.13
Illinois 64 7,644,916.63 6.97
Indiana 22 1,918,646.86 1.75
Iowa 7 814,548.43 0.74
Kansas 6 700,862.17 0.64
Kentucky 7 519,392.29 0.47
Louisiana 6 956,048.71 0.87
Maryland 5 1,539,513.54 1.40
Massachusetts 6 915,633.66 0.84
</TABLE>
Greenwich Capital
--------------------------------------------------------------------------------
40
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
<TABLE>
<CAPTION>
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
<S> <C> <C> <C>
State Distribution (Continued):
Michigan 47 3,616,813.18 3.30
Minnesota 31 3,405,461.20 3.11
Mississippi 3 263,661.99 0.24
Missouri 13 956,687.79 0.87
Montana 1 58,000.00 0.05
Nebraska 1 47,947.36 0.04
Nevada 8 1,524,699.52 1.39
New Hampshire 1 58,411.01 0.05
New Jersey 7 2,006,995.12 1.83
New Mexico 3 246,974.55 0.23
New York 1 62,701.52 0.06
North Carolina 2 183,641.61 0.17
Ohio 34 3,007,815.69 2.74
Oklahoma 8 505,432.28 0.46
Oregon 5 716,865.75 0.65
Pennsylvania 21 2,442,675.12 2.23
Rhode Island 3 229,537.58 0.21
South Carolina 3 155,193.18 0.14
Tennessee 13 1,074,914.71 0.98
Texas 27 2,904,505.71 2.65
Utah 10 1,124,199.03 1.03
Vermont 1 148,906.91 0.14
Virginia 12 2,115,135.70 1.93
Washington 32 4,539,055.52 4.14
West Virginia 1 44,089.33 0.04
Wisconsin 9 717,432.81 0.65
Credit Grade:
A 21 4,469,137.50 4.08
A+ 15 2,678,613.04 2.44
A- 317 53,663,729.30 48.94
B 211 27,857,888.28 25.41
C 150 17,048,675.31 15.55
D 32 3,931,395.25 3.59
</TABLE>
Greenwich Capital
--------------------------------------------------------------------------------
41
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
<TABLE>
<CAPTION>
CURRENT
# OF LOANS PRINCIPAL BAL ($) PCT($)
<S> <C> <C> <C>
Lien Position:
First Lien 746 109,649,438.68 100.00
Prepay Term:
0 89 14,121,686.26 12.88
12 17 3,557,867.71 3.24
24 236 36,263,019.40 33.07
36 302 41,368,537.36 37.73
48 1 49,714.85 0.05
60 101 14,288,613.10 13.03
</TABLE>
Greenwich Capital
--------------------------------------------------------------------------------
42
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
Bond Summary (to Maturity)
-------------------------
<TABLE>
<CAPTION>
Class AF-1 (To Maturity)
Pass Thru Margin: 0.110%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
100-00 0.110 0.110 0.110 0.110 0.110 0.110 0.110
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 9.39 1.35 1.02 0.84 0.73 0.66 0.60
MDUR (yr) 6.25 1.24 0.94 0.79 0.69 0.62 0.57
First Prin Pay 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00
Last Prin Pay 08/25/15 05/25/03 08/25/02 03/25/02 12/25/01 10/25/01 09/25/01
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Class AF-2 (To Maturity)
Coupon: 7.270%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
100-00 7.326 7.228 7.168 7.113 7.059 7.008 6.960
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 14.91 3.75 2.58 2.00 1.65 1.41 1.24
MDUR (yr) 8.83 3.16 2.28 1.80 1.50 1.30 1.15
First Prin Pay 08/25/15 05/25/03 08/25/02 03/25/02 12/25/01 10/25/01 09/25/01
Last Prin Pay 08/25/15 09/25/05 02/25/04 04/25/03 10/25/02 06/25/02 04/25/02
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Class AF-3 (To Maturity)
Coupon: 7.360%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
99-31+ 7.420 7.373 7.333 7.292 7.253 7.215 7.177
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 14.94 6.04 4.01 3.00 2.42 2.04 1.76
MDUR (yr) 8.79 4.71 3.36 2.60 2.14 1.83 1.60
First Prin Pay 08/25/15 09/25/05 02/25/04 04/25/03 10/25/02 06/25/02 04/25/02
Last Prin Pay 09/25/15 05/25/08 07/25/05 04/25/04 06/25/03 01/25/03 09/25/02
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Greenwich Capital
--------------------------------------------------------------------------------
43
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
<TABLE>
<CAPTION>
Class AF-4 (To Maturity)
Coupon: 7.630%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
99-31+ 7.698 7.685 7.660 7.629 7.598 7.561 7.521
=============================-----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
WAL (yr) 16.63 11.45 7.30 5.00 3.82 2.99 2.42
MDUR (yr) 9.07 7.32 5.35 4.00 3.19 2.57 2.13
First Prin Pay 09/25/15 05/25/08 07/25/05 04/25/04 06/25/03 01/25/03 09/25/02
Last Prin Pay 09/25/23 08/25/15 10/25/11 02/25/08 12/25/05 11/25/04 08/25/03
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Class AF-5 (To Maturity)
Coupon: 7.850%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
100-00 7.932 7.944 7.989 8.008 8.002 7.967 7.900
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 26.88 16.65 14.30 11.62 9.00 6.75 4.78
MDUR (yr) 10.84 8.92 8.27 7.28 6.07 4.91 3.76
First Prin Pay 09/25/23 08/25/15 10/25/11 02/25/08 12/25/05 11/25/04 08/25/03
Last Prin Pay 06/25/30 06/25/27 05/25/22 10/25/17 09/25/15 04/25/15 12/25/12
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Class AF-6 (To Maturity)
Coupon: 7.470%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
99-31+ 7.526 7.504 7.498 7.493 7.490 7.488 7.488
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 12.80 8.17 7.37 6.85 6.55 6.40 6.38
MDUR (yr) 7.87 5.77 5.37 5.10 4.94 4.86 4.85
First Prin Pay 10/25/03 10/25/03 10/25/03 10/25/03 11/25/03 02/25/04 05/25/04
Last Prin Pay 08/25/15 08/25/15 08/25/15 08/25/15 08/25/15 02/25/15 10/25/12
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Greenwich Capital
--------------------------------------------------------------------------------
44
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
<TABLE>
<CAPTION>
Class MF-1 (To Maturity)
Coupon: 7.850%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
100-00 7.924 7.915 7.921 7.922 7.914 7.902 7.890
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 19.11 12.01 9.18 7.31 5.92 5.04 4.54
MDUR (yr) 9.37 7.34 6.11 5.16 4.41 3.92 3.63
First Prin Pay 08/25/15 02/25/07 02/25/05 01/25/04 10/25/03 12/25/03 01/25/04
Last Prin Pay 01/25/30 02/25/22 07/25/16 08/25/15 05/25/14 12/25/11 03/25/10
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Class MF-2 (To Maturity)
Coupon: 8.240%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
99-31 8.326 8.313 8.323 8.322 8.311 8.298 8.285
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 19.08 11.82 9.17 7.25 5.82 4.92 4.37
MDUR (yr) 9.09 7.14 6.00 5.06 4.31 3.81 3.48
First Prin Pay 08/25/15 02/25/07 02/25/05 01/25/04 10/25/03 11/25/03 11/25/03
Last Prin Pay 08/25/29 02/25/19 09/25/15 08/25/15 10/25/12 08/25/10 01/25/09
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Class BF-1 (To Maturity)
Coupon: 9.010%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
100-00 9.111 9.093 9.077 9.056 9.035 9.015 8.999
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 18.90 11.67 9.10 6.98 5.59 4.72 4.16
MDUR (yr) 8.57 6.81 5.76 4.82 4.11 3.62 3.29
First Prin Pay 08/25/15 02/25/07 02/25/05 01/25/04 10/25/03 10/25/03 10/25/03
Last Prin Pay 10/25/28 09/25/15 08/25/15 08/25/13 01/25/11 03/25/09 11/25/07
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Greenwich Capital
--------------------------------------------------------------------------------
45
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
<TABLE>
<CAPTION>
Class AV-1 (To Maturity)
Pass Thru Margin: 0.210%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
100-00 0.210 0.213 0.213 0.213 0.213 0.210 0.210
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 20.73 4.64 3.26 2.49 1.95 1.49 1.34
MDUR (yr) 10.07 3.45 2.63 2.11 1.71 1.36 1.22
First Prin Pay 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00
Last Prin Pay 08/25/30 06/25/25 03/25/18 08/25/13 08/25/10 08/25/03 03/25/03
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Class AV-2 (To Maturity)
Pass Thru Margin: 0.240%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
100-00 0.240 0.243 0.243 0.243 0.243 0.240 0.240
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 20.66 4.61 3.24 2.48 1.94 1.49 1.33
MDUR (yr) 10.02 3.44 2.61 2.09 1.70 1.35 1.22
First Prin Pay 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00
Last Prin Pay 08/25/30 04/25/25 01/25/18 06/25/13 06/25/10 08/25/03 03/25/03
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Class MV-1 (To Maturity)
Pass Thru Margin: 0.550%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
100-00 0.551 0.555 0.554 0.554 0.553 0.563 0.560
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 27.61 9.07 6.15 4.83 4.46 4.80 3.12
MDUR (yr) 11.53 6.13 4.63 3.86 3.66 3.89 2.68
First Prin Pay 06/25/25 01/25/05 10/25/03 12/25/03 03/25/04 08/25/03 03/25/03
Last Prin Pay 07/25/30 06/25/22 08/25/15 09/25/11 03/25/09 08/25/08 03/25/07
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Greenwich Capital
--------------------------------------------------------------------------------
46
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
<TABLE>
<CAPTION>
Class MV-2 (To Maturity)
Pass Thru Margin: 1.000%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
100-00 1.001 1.006 1.004 1.004 1.003 1.002 1.010
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 27.61 8.97 6.08 4.70 4.08 3.90 4.28
MDUR (yr) 11.03 5.98 4.53 3.73 3.35 3.24 3.52
First Prin Pay 06/25/25 01/25/05 10/25/03 11/25/03 12/25/03 02/25/04 05/25/04
Last Prin Pay 06/25/30 03/25/20 11/25/13 05/25/10 03/25/08 10/25/06 12/25/05
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Class BV-1 (To Maturity)
Pass Thru Margin: 1.800%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
100-00 1.801 1.803 1.800 1.800 1.800 1.800 1.800
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 27.59 8.73 5.91 4.56 3.89 3.58 3.51
MDUR (yr) 10.21 5.70 4.34 3.57 3.16 2.96 2.92
First Prin Pay 06/25/25 01/25/05 10/25/03 10/25/03 11/25/03 11/25/03 12/25/03
Last Prin Pay 05/25/30 10/25/17 02/25/12 02/25/09 04/25/07 01/25/06 02/25/05
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Bond Summary (to Call)
---------------------
<TABLE>
<CAPTION>
Class AF-5 (To Call)
Coupon: 7.850%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
100-00 7.931 7.918 7.906 7.890 7.870 7.849 7.822
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 26.71 14.91 10.91 8.21 6.27 5.02 4.02
MDUR (yr) 10.82 8.50 7.09 5.85 4.78 4.00 3.32
First Prin Pay 09/25/23 08/25/15 08/25/11 02/25/08 12/25/05 11/25/04 08/25/03
Last Prin Pay 04/25/29 08/25/15 08/25/11 12/25/08 03/25/07 01/25/06 03/25/05
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Greenwich Capital
--------------------------------------------------------------------------------
47
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
<TABLE>
Class AF-6 (To Call)
Coupon: 7.470%
---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
99-31+ 7.526 7.504 7.497 7.490 7.481 7.469 7.455
==========================--------------------------------------------------------------------------------------------------------
WAL (yr) 12.80 8.17 7.26 6.56 5.78 5.05 4.42
MDUR (yr) 7.87 5.77 5.33 4.96 4.52 4.06 3.64
First Prin Pay 10/25/03 10/25/03 10/25/03 10/25/03 11/25/03 02/25/04 05/25/04
Last Prin Pay 08/25/15 08/25/15 08/25/11 12/25/08 03/25/07 01/25/06 03/25/05
----------------------------------------------------------------------------------------------------------------------------------
Class MF-1 (To Call)
Coupon: 7.850%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
100-00 7.924 7.907 7.889 7.869 7.848 7.830 7.818
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 19.08 11.65 8.29 6.27 5.01 4.28 3.90
MDUR (yr) 9.36 7.24 5.78 4.72 3.96 3.49 3.24
First Prin Pay 08/25/15 02/25/07 02/25/05 01/25/04 10/25/03 12/25/03 01/25/04
Last Prin Pay 04/25/29 08/25/15 08/25/11 12/25/08 03/25/07 01/25/06 03/25/05
----------------------------------------------------------------------------------------------------------------------------------
Class MF-2 (To Call)
Coupon: 8.240%
----------------------------------------------------------------------------------------------------------------------------------
Flat
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
99-31 8.326 8.310 8.292 8.272 8.250 8.232 8.218
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 19.07 11.65 8.29 6.27 5.00 4.25 3.80
MDUR (yr) 9.09 7.09 5.69 4.65 3.91 3.43 3.14
First Prin Pay 08/25/15 02/25/07 02/25/05 01/25/04 10/25/03 11/25/03 11/25/03
Last Prin Pay 04/25/29 08/25/15 08/25/11 12/25/08 03/25/07 01/25/06 03/25/05
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Greenwich Capital
--------------------------------------------------------------------------------
48
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
<TABLE>
Class BF-1 (To Call)
Coupon: 9.010%
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
100-00 9.111 9.093 9.072 9.049 9.024 9.002 8.984
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 18.90 11.65 8.29 6.27 5.00 4.22 3.75
MDUR (yr) 8.57 6.81 5.51 4.53 3.82 3.35 3.05
First Prin Pay 08/25/15 02/25/07 02/25/05 01/25/04 10/25/03 10/25/03 10/25/03
Last Prin Pay 10/25/28 08/25/15 08/25/11 12/25/08 03/25/07 01/25/06 03/25/05
----------------------------------------------------------------------------------------------------------------------------------
Class AV-1 (To Call)
Pass Thru Margin: 0.210%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
100-00 0.210 0.210 0.210 0.210 0.210 0.210 0.210
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 20.65 4.48 3.17 2.44 1.92 1.49 1.34
MDUR (yr) 10.06 3.41 2.59 2.08 1.69 1.36 1.22
First Prin Pay 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00
Last Prin Pay 04/25/29 08/25/15 08/25/11 12/25/08 03/25/07 08/25/03 03/25/03
----------------------------------------------------------------------------------------------------------------------------------
Class AV-2 (To Call)
Pass Thru Margin: 0.240%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
100-00 0.240 0.240 0.240 0.240 0.240 0.240 0.240
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 20.58 4.46 3.16 2.43 1.90 1.49 1.33
MDUR (yr) 10.01 3.39 2.58 2.07 1.68 1.35 1.22
First Prin Pay 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00
Last Prin Pay 04/25/29 08/25/15 08/25/11 12/25/08 03/25/07 08/25/03 03/25/03
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Greenwich Capital
--------------------------------------------------------------------------------
49
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
<TABLE>
Class MV-1 (To Call)
Pass Thru Margin: 0.550%
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
100-00 0.550 0.550 0.550 0.550 0.550 0.550 0.550
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 27.39 8.69 5.98 4.72 4.38 4.51 2.97
MDUR (yr) 11.50 6.02 4.56 3.81 3.61 3.71 2.58
First Prin Pay 06/25/25 01/25/05 10/25/03 12/25/03 03/25/04 08/25/03 03/25/03
Last Prin Pay 04/25/29 08/25/15 08/25/11 12/25/08 03/25/07 01/25/06 03/25/05
----------------------------------------------------------------------------------------------------------------------------------
Class MV-2 (To Call)
Pass Thru Margin: 1.000%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
100-00 1.000 1.000 1.000 1.000 1.000 1.000 1.000
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 27.39 8.69 5.98 4.65 4.04 3.88 4.18
MDUR (yr) 11.00 5.90 4.49 3.70 3.33 3.23 3.45
First Prin Pay 06/25/25 01/25/05 10/25/03 11/25/03 12/25/03 02/25/04 05/25/04
Last Prin Pay 04/25/29 08/25/15 08/25/11 12/25/08 03/25/07 01/25/06 03/25/05
----------------------------------------------------------------------------------------------------------------------------------
Class BV-1 (To Call)
Pass Thru Margin: 1.800%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
==================================================================================================================================
100-00 1.800 1.800 1.800 1.800 1.800 1.800 1.800
=============================-----------------------------------------------------------------------------------------------------
WAL (yr) 27.39 8.65 5.91 4.55 3.89 3.58 3.51
MDUR (yr) 10.20 5.68 4.34 3.57 3.16 2.96 2.92
First Prin Pay 06/25/25 01/25/05 10/25/03 10/25/03 11/25/03 11/25/03 12/25/03
Last Prin Pay 04/25/29 08/25/15 08/25/11 12/25/08 03/25/07 01/25/06 02/25/05
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Greenwich Capital
--------------------------------------------------------------------------------
50
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
Group II Available Funds Cap
----------------------------
<TABLE>
<CAPTION>
Periods Net Available Funds Cap Periods Net Available Funds Cap Periods Net Available Funds Cap
------- ----------------------- ------- ----------------------- ------- -----------------------
<S> <C> <C> <C> <C> <C>
1 10.32780% 37 14.81340% 73 17.77032%
2 9.01302% 38 14.04922% 74 17.19708%
3 9.32365% 39 14.51766% 75 17.77032%
4 9.16602% 40 14.04947% 76 17.19760%
5 9.17635% 41 15.18519% 77 17.19760%
6 10.17004% 42 16.29234% 78 19.04021%
7 9.26842% 43 15.24133% 79 17.19761%
8 9.58721% 44 15.74949% 80 17.81066%
9 9.28856% 45 15.24155% 81 17.27826%
10 9.65865% 46 15.75110% 82 17.90011%
11 9.35893% 47 15.87471% 83 17.36846%
12 9.36704% 48 15.92865% 84 17.41618%
13 9.74010% 49 16.45966% 85 18.04814%
14 9.44713% 50 15.92876% 86 17.51785%
15 9.79218% 51 16.45977% 87 18.15773%
16 9.52632% 52 15.92886% 88 17.62851%
17 9.51481% 53 16.43758% 89 17.68749%
18 10.52029% 54 18.26061% 90 18.97315%
19 9.51905% 55 16.49346% 91 17.81339%
20 9.82182% 56 17.04326% 92 18.47660%
21 9.48958% 57 16.49349% 93 17.95080%
22 9.79143% 58 17.04539% 94 18.62500%
23 10.77848% 59 17.00417% 95 18.10095%
24 10.76297% 60 17.05802% 96 18.18124%
25 11.10505% 61 17.62662% 97 18.87410%
26 10.73001% 62 17.05803% 98 18.35321%
27 11.06958% 63 17.62663% 99 19.06017%
28 10.69504% 64 17.05854% 100 0.00000%
29 11.30118% 65 17.16199%
30 12.49407% 66 19.03904%
31 11.26599% 67 17.19655%
32 13.02082% 68 17.76978%
33 12.63384% 69 17.19656%
34 13.09364% 70 17.77031%
35 14.15695% 71 17.19707%
36 14.29200% 72 17.19708%
</TABLE>
Greenwich Capital
--------------------------------------------------------------------------------
51
<PAGE>
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
may be superseded by information contained in term sheets circulated after
the date hereof and is qualified in its entirety by information contained in the
Prospectus and Prospectus Supplement for this transaction. An offering may be
made only through the delivery of the Prospectus and Prospectus Supplement.
Greenwich Capital
=========-----------------------------------------------------------------------
52
