<PAGE>
[LOGO]
SAXON
BANC OF AMERICA SECURITIES
BANK OF AMERICA. [LOGO]
RMBS New Issue Term Sheet
$740,000,000 Certificates (approximate)
Mortgage Loan Asset Backed Certificates, Series 2000-2
Offered Classes: AF-1, AF-2, AF-3, AF-4, AF-5, AF-6, MF-1, MF-2, BF-1,
AV-1, MV-1, MV-2, BV-1, & A-IO
Saxon Asset Securities Company
Depositor
Saxon Mortgage Inc.
Seller and Master Servicer
Meritech Mortgage Services, Inc.
Servicer
May 30, 2000
Banc of America Securities LLC
-------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
Group I
Certificates
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
To Maturity:
Expected
Expected Last
Expected Expected Principal Scheduled Expected Ratings
Approximate Interest Principal WAL (yrs) Window Distribution ------------------------
Class Size* Type Type (mos) Date S&P Fitch
----------------------------------------------------------------------------------------------------------------------------
<S> <C>
AF-1 124,170,000 Float SEQ 0.95 1 - 19 5/25/2015 AAA AAA
AF-2 63,243,000 Fixed SEQ 2.00 19 - 29 6/25/2015 AAA AAA
AF-3 74,120,000 Fixed SEQ 3.00 29 - 45 6/25/2015 AAA AAA
AF-4 64,245,000 Fixed SEQ 5.00 45 - 80 3/25/2024 AAA AAA
AF-5** 52,732,000 Fixed SEQ 11.39 80 - 211 7/25/2030 AAA AAA
AF-6 48,998,000 Fixed NAS 6.88 37 - 180 7/25/2030 AAA AAA
MF-1** 26,949,000 Fixed MEZ 7.34 41 - 180 7/25/2030 AA AA
MF-2** 13,964,000 Fixed MEZ 7.29 41 - 179 7/25/2030 A A
BF-1 12,005,000 Fixed SUB 7.11 41 - 160 7/25/2030 BBB BBB
BF-2*** 9,554,202 Fixed SUB 6.61 41 - 133 7/25/2030 BB BB
</TABLE>
<TABLE>
<CAPTION>
To Call:
Expected
Expected Last
Expected Expected Principal Scheduled Expected Ratings
Approximate Interest Principal WAL (yrs) Window Distribution -------------------------
Class Size* Type Type (mos) Date S&P Fitch
----------------------------------------------------------------------------------------------------------------------------
<S> <C>
AF-1 124,170,000 Float SEQ 0.95 1 - 19 5/25/2015 AAA AAA
AF-2 63,243,000 Fixed SEQ 2.00 19 - 29 6/25/2015 AAA AAA
AF-3 74,120,000 Fixed SEQ 3.00 29 - 45 6/25/2015 AAA AAA
AF-4 64,245,000 Fixed SEQ 5.00 45 - 80 3/25/2024 AAA AAA
AF-5** 52,732,000 Fixed SEQ 8.62 80 - 106 7/25/2030 AAA AAA
AF-6 48,998,000 Fixed NAS 6.70 37 - 106 7/25/2030 AAA AAA
MF-1** 26,949,000 Fixed MEZ 6.48 41 - 106 7/25/2030 AA AA
MF-2** 13,964,000 Fixed MEZ 6.48 41 - 106 7/25/2030 A A
BF-1 12,005,000 Fixed SUB 6.48 41 - 106 7/25/2030 BBB BBB
BF-2*** 9,554,202 Fixed SUB 6.41 41 - 106 7/25/2030 BB BB
* The Approximate Size is subject to a permitted variance in the aggregate of plus or minus 5%.
** Priced to call.
*** Not Offered.
----------------------------------------------------------------------------------------------------------------
Structure:
(1) The Group I Certificates will be backed primarily by the Group I Mortgage Loans.
(2) After the Clean-Up Call Date, the coupon on the Class AF-5, Class MF-1, and
Class MF-2 Certificates will increase by 50 bps per annum.
(3) It is expected that all classes (except for the Class AF-1) will be subject
to a Maximum Rate. The Class AF-1 will be subject to the Group I Available
Funds Cap.
(4) Classes MF-1, MF-2, BF-1, and BF-2 are not expected to receive principal
payments prior to the Step-down Date.
</TABLE>
Pricing Speed:
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
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.
<TABLE>
<CAPTION>
Group II Certificates
---------------------------------------------------------------------------------------------------------------------------
To Maturity:
Expected
Expected Last
Expected Expected Principal Scheduled Expected Ratings
Approximate Interest Principal WAL (yrs) Window Distribution -------------------------------
Class Size* Type Type (mos) Date S&P Fitch
----------------------------------------------------------------------------------------------------------------------------
<S> <C>
AV-1** 209,767,000 Float SEN 2.69 1 - 155 7/25/2030 AAA AAA
MV-1** 16,251,000 Float MEZ 4.84 39 - 127 7/25/2030 AA AA
MV-2** 12,000,000 Float MEZ 4.74 38 - 114 7/25/2030 A A
BV-1** 6,126,000 Float SUB 4.63 37 - 99 7/25/2030 BBB BBB
BV-2*** 5,875,798 Float SUB 4.37 37 - 85 7/25/2030 BB BB
</TABLE>
<TABLE>
<CAPTION>
To Call:
Expected
Expected Last
Expected Expected Principal Scheduled Expected Ratings
Approximate Interest Principal WAL (yrs) Window Distribution -----------------------------------
Class Size* Type Type (mos) Date S&P Fitch
---------------------------------------------------------------------------------------------------------------------------
<S> <C>
AV-1** 209,767,000 Float SEN 2.65 1 - 106 7/25/2030 AAA AAA
MV-1** 16,251,000 Float MEZ 4.78 39 - 106 7/25/2030 AA AA
MV-2** 12,000,000 Float MEZ 4.73 38 - 106 7/25/2030 A A
BV-1** 6,126,000 Float SUB 4.63 37 - 99 7/25/2030 BBB BBB
BV-2*** 5,875,798 Float SUB 4.37 37 - 85 7/25/2030 BB BB
* The Approximate Size is subject to a permitted variance in the aggregate of plus or minus 5%.
** Priced to call.
*** Not Offered.
Structure:
(1) The Group II Certificates will be backed primarily by the Group II Mortgage Loans.
(2) After the Clean-Up Call Date, the margin on the Class AV-1 Certificates
will increase to 2 times the initial margin; the margin on the Class MV-1,
Class MV-2, and Class BV-1 Certificates will increase to 1.5 times their
initial margin.
(3) All classes of Group II Certificates are subject to the Group II Available Funds Cap.
(4) Classes MV-1, MV-2, BV-1 and BV-2 are not expected to receive principal
payments prior to the Step-down Date.
</TABLE>
Pricing Speed:
Adjustable-Rate Mortgage 100% ARM PPC
Loans
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.
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
I/O Certificates
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
To Maturity:
Expected
Expected Expected Last
Initial Expected Payment Scheduled Expected Ratings
Notional Interest Principal WAL (yrs) Window Distribution --------------------------
Class Amount Type Type (mos) Date S&P Fitch
----------------------------------------------------------------------------------------------------------------------------
<S><C>
A-IO 118,000,000 Fixed Notional 1.75 1 - 30 12/25/2002 AAAr AAA
</TABLE>
Expected Class A-IO Notional Amount Schedule
--------------------------------------------------------------------------------
There will be a AAAr/AAA rated interest-only class (Class A-IO), offered solely
by BAS, relating to Loan Groups I and II with a coupon of 6.0% for the first 30
months and 0.0% for months 31 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:
<TABLE>
<CAPTION>
Period Total Notional Amount Fix Component Arm Component
------ --------------------- ------------- -------------
<S> <C>
1 - 3 118,000,000 86,000,000 32,000,000
4 - 6 108,000,000 80,000,000 28,000,000
7 - 9 90,500,000 65,000,000 25,500,000
10 - 12 84,000,000 60,000,000 24,000,000
13 - 15 78,500,000 56,000,000 22,500,000
16 - 18 74,000,000 53,000,000 21,000,000
19 - 21 70,000,000 50,000,000 20,000,000
22 - 24 65,000,000 45,000,000 20,000,000
25 - 27 63,000,000 43,000,000 20,000,000
28 - 30 59,000,000 39,000,000 20,000,000
31 and thereafter 0 0 0
</TABLE>
Contact: Banc of America Securities LLC
Mortgage Trading/Syndicate (704) 386-7744 (704) 335-5904 (Fax)
Chris Hentemann ([email protected])
Alex Cha ([email protected])
David Nagle ([email protected])
Mortgage Finance (704) 388-9668(Fax)
Shahid Quraishi (704) 388-9399 ([email protected])
Michael Ciuffo (704) 388-8737 ([email protected])
Peter Faigl (704) 388-8245 ([email protected])
William White (704) 387-6040 ([email protected])
Banc of America Securities LLC
-------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
<TABLE>
<CAPTION>
SUMMARY OF TERMS
<S><C>
Title of Securities: Mortgage Loan Asset Backed Certificates , Series 2000-2
Offered Certificates: Group I Certificates: Classes AF-1, AF-2,
AF-3, AF-4, AF-5, AF-6 ("Class AF
Certificates"), Class MF-1 and Class MF-2
("Class MF Certificates") and Class BF-1
Certificates ("Class BF Certificates").
Group II Certificates: Class AV-1 ("Class
AV Certificates"), Class MV-1 and Class
MV-2 ("Class MV Certificates") and Class
BV-1 Certificates ("Class BV
Certificates").
I/O Certificates: Class A-IO.
Non-Offered Certificates: Class BF-2, Class BV-2, Class P-1 and P-2
("Class P Certificates"), Class C and
Class R.
Seller and Master Servicer: Saxon Mortgage, Inc.
Trustee: Bankers Trust Company
Rating Agencies: Standard and Poors, Inc. ("S&P") and
Fitch IBCA ("Fitch").
Lead Manager: Banc of America Securities LLC
Co-Managers: Prudential Securities, Greenwich Capital
Markets Inc., Merrill Lynch & Co., and
Bank One Capital Markets Inc.
Closing Date: On or about June 14, 2000.
Accrued Interest: All Offered Certificates, except for the
Class AF-1 Certificates and the Group II
Certificates, will settle with accrued
interest. The Class AF-1 Certificates and
the Group II Certificates will settle
with no accrued interest.
Distribution Dates: The 25th of each month, or if such day is
not a business day, the next succeeding
business day, beginning on July 25, 2000.
Record Date: With respect to the Offered Certificates,
other than the Class AF-1 Certificates
and the Group II Certificates, the last
business day in the month preceding the
applicable Distribution Date. For the
Class AF-1 Certificates and the Group II
Certificates, the last business day
preceding the Distribution Date.
Statistical Cut-Off Date: The close of business on May 9, 2000.
Payment Delay: With respect to the Offered Certificates,
other than the Class AF-1 Certificates
and the Group II Certificates, 24 days
and with respect to the Class AF-1
Certificates and the Group II
Certificates, 0 days.
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
<TABLE>
<S><C>
Day Count: With respect to the Offered
Certificates, other than the Class AF-1
Certificates and the Group II
Certificates, 30/360 and with respect
to the Class AF-1 Certificates and the
Group II Certificates, Actual/360.
Servicing Fees: Approximately [0.56%] of the aggregate
principal balance of the mortgage loans
in Group I and approximately [0.55%]
of the aggregate principal balance of
the mortgage loans in Group II
(including the master servicing fee).
Clean-Up Call Date: Any Distribution Date on or after which
the aggregate principal balances of the
mortgage loans declines to 10% or less
of the aggregate principal balances of
the mortgage loans as of the Cut-Off
Date ("Cut-Off Balance").
Denomination: $1,000 in original principal amount and
integral multiples.
SMMEA Eligibility: Only the Class AV-1 and Class MV-1
Certificates will be SMMEA eligible.
The remaining Certificates will not be
SMMEA eligible.
ERISA Eligibility: The Class AF and Class AV Certificates
should be ERISA eligible under Banc of
America's administrative exemption from
certain prohibited transaction rules
granted by the Department of Labor
unless conditions of the exemption
under the control of the investor are
not met. A fiduciary of any employee
benefit plan subject to ERISA should
carefully review with its legal
advisors whether the purchase of the
certificates could give rise to a
prohibited transaction. All other
Certificates will not be ERISA
---
eligible.
Tax Status: The Offered Certificates will be
designated as regular interests in a
REMIC and, as such, will be treated as
debt instruments of a REMIC for federal
income tax purposes.
Initial Mortgage Loan Pool: o The collateral information
presented in the term sheet
regarding the Mortgage Pool is
based on the Initial Mortgage
Loans as of the Statistical
Cut-Off Date.
o Consists of fixed and adjustable
rate closed-end mortgage loans,
which accrue interest on an
actuarial basis and are secured by
1st and 2nd lien, level pay and
balloon mortgages on primarily 1-4
family properties.
o The Mortgage Loan Pool will be
divided into two Loan Groups:
- Loan Group I: Consists of
mortgage loans which accrue
interest at a fixed-rate.
- Loan Group II: Consists of
mortgage loans which accrue
interest at an adjustable-rate.
o For collateral statistics please
see the "Description of the
Expected Collateral" below.
o 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.
Prefunding Amount: At closing the Seller will deposit up
to the difference between $740,000,000
and the sum of the aggregate principal
balances of the Initial Mortgage Loans
plus the additional mortgage loans as of
the Cut-Off Date into two prefunding accounts
to be used to acquire additional mortgage
loans from the Seller during the prefunding
period. At closing the Seller will also deposit
funds into a Capitalized Interest Account to
cover interest shortfalls during the prefunding period
due to the prefunding feature. The prefunding period
terminates at the latest on the close of
business [August 30, 2000].
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
<TABLE>
<S> <C>
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.
Servicer Obligations for Prepayment The Servicer will be obligated to pay
Interest Shortfalls: 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.
Trigger Event: For any Distribution Date after
the Stepdown Date, exists if the 60+
day delinquency percentage (including
loans in bankruptcy, foreclosure, or
REO) 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.
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
<S> <C>
Expected Credit Enhancement: Credit enhancement for the structure is
provided by excess interest,
overcollateralization, subordination,
and, with respect to certain mortgage
loans only, a Mortgage Guaranty Insurance
Corporation ("MGIC") primary mortgage
insurance policy providing limited
coverage with respect thereto.
Furthermore, the Class BF-2 and Class
BV-2 Certificates will be supported by
cash flows on the Class P-1 and Class P-2
Certificates.
Group I Certificates
Class AF Credit Enhancement
(1) Subordination of Class MF, Class BF,
and Class BF-2 Certificates,
totaling [12.75%] of the Cut-Off
Date Principal Balance of the Group
I Mortgage Loans and the Targeted
Overcollateralization Amount.
Class MF-1, MF-2, BF-1, and BF-2 Credit
Enhancement
(1) Class MF-1 is enhanced by [7.25%] in
subordinate certificates and the
Targeted Overcollateralization
Amount.
(2) Class MF-2 is enhanced by [4.40%] in
subordinate certificates and the
Targeted Overcollateralization
Amount.
(3) Class BF-1 is enhanced by [1.95%] in
subordinate certificates and the
Targeted Overcollateralization
Amount.
(4) Class BF-2 is enhanced by the
Targeted Overcollateralization
Amount and, in certain
circumstances, cash flows on
the Class P Certificates.
Group II Certificates
Class AV Credit Enhancement
(1) Subordination of Class MV, Class BV,
and Class BV-2 Certificates,
totaling [16.10%] of the Cut-Off
Date Principal Balance of the Group
II Mortgage Loans and the Targeted
Overcollateralization Amount.
Class MV-1, MV-2, BV-1, and BV-2 Credit
Enhancement
(1) Class MV-1 is enhanced by [9.60%] in
subordinate certificates and the
Targeted Overcollateralization
Amount.
(2) Class MV-2 is enhanced by [4.80%] in
subordinate certificates and the
Targeted Overcollateralization
Amount.
(3) Class BV-1 is enhanced by [2.35%] in
subordinate certificates and the
Targeted Overcollateralization
Amount.
(4) Class BV-2 is enhanced by the
Targeted Overcollateralization
Amount and, in certain
circumstances, cash flows on the
Class P Certificates.
</TABLE>
Banc of America Securities LLC
-------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
<TABLE>
<S> <C>
Expected Targeted Group I Certificates
Overcollateralization Amount: Prior to the Step-down Date, [1.25%] of
the aggregate Statistical Cut-Off Date
Principal Balance of the Group I Mortgage
Loans. On and after the Step-down Date,
(assuming a Trigger Event is not in
effect), the greater of (1) the lesser of
(A) [1.25%] of the aggregate Cut-Off Date
Principal Balance of the Group I Mortgage
Loans and (B) [2.50%] 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.
Group II Certificates
Prior to the Step-down Date, [1.40%] of
the aggregate Cut-Off Date Principal
Balance of the Group II Mortgage Loans.
On and after the Step-down Date,
(assuming a Trigger Event is not in
effect), the greater of (1) the lesser of
(A) [1.40%] of the aggregate Cut-Off Date
Principal Balance of the Group II
Mortgage Loans and (B) [2.80%] 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.
Expected Credit Support Percentage: Group I Certificates:
Initial Credit Support After Step-down Date
---------------------- --------------------
Class Percent Class Percent
----- ------- ----- -------
AF-1 to AF-6 [12.75%] AF-1 to AF-6 [28.00%]
MF-1 [7.25%] MF-1 [17.00%]
MF-2 [4.40%] MF-2 [11.30%]
BF-1 [1.95%] BF-1 [6.40%]
BF-2 [0.00%] BF-2 [2.50%]
Group II Certificates:
Initial Credit Support After Step-down Date
---------------------- --------------------
Class Percent Class Percent
----- ------- ----- -------
AV-1 [16.10%] AV-1 [35.00%]
MV-1 [9.60%] MV-1 [22.00%]
MV-2 [4.80%] MV-2 [12.40%]
BV-1 [2.35%] BV-1 [7.50%]
BV-2 [0.00%] BV-2 [2.80%]
Overcollateralization: On any Distribution Date, collections on
the mortgage loans in excess of the
amount required to make interest and
principal distributions on the Offered
Certificates or to pay certain expenses
of the trust will be applied first to
cover certain shortfalls on the Senior
Certificates, then to maintain the
overcollateralization for the Offered
Certificates and finally, to cover
certain shortfalls on the Subordinate
Certificates.
</TABLE>
Banc of America Securities LLC
-------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
<TABLE>
<S> <C>
Subordination: If excess interest,
overcollateralization, and, in the case
of the Class BF-2 and Class BV-2
Certificates, the Class P Certificates
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.
Step-down Date: The earlier to occur of (i) the
Distribution Date on which the
certificate principal balances of the
Class A Certificates have been reduced to
zero and (ii) the later to occur of (a)
the Distribution Date in July 2003 and
(b) the first Distribution Date on which
the Class A Certificate principal balance
of the group (after taking into account
distributions of principal on such
Distribution Date) is less than or equal
to 72.0% for Group I (65.0% for Group II)
of the scheduled principal balances of
the mortgage loans in the group.
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
PASS THROUGH RATES
Group I Certificates
o Pass through rates on the Group I Certificates other than the Class AF-1
Certificates are fixed. The pass through rates for the Class AF-2, Class
AF-3, Class AF-4, Class AF-5, Class AF-6, Class MF-1, Class MF-2, Class
BF-1, and Class BF-2 Certificates will be capped at the Maximum Rate, which
may be less than the pass through rates determined on the pricing day. The
pass through rate on the class AF-1 certificates will be capped at the Group
I Available Funds Cap.
o For the Group I Certificates other than the Class AF-1 Certificates, the
amount of interest distributable on each Distribution Date is the interest
accrued during the month immediately preceding the month in which that
distribution occurs. All calculations are made on the basis of a 360-day
year consisting of twelve 30 day months (30/360).
Maximum Rate:
The Maximum Rate shall equal the average of the mortgage interest rates (net of
the Servicing Fee (including the master servicing fee), the Fixed Component of
the Class A-IO Pass Through Rate and other fees), weighted on the basis of the
principal balances of the mortgage loans as of the first day of the related due
period.
Group I Available Funds Cap:
The Group I Available Funds Cap shall equal the Maximum Rate adjusted for the
actual number of days in the related accrual period, except for period 1 in
which the Group I Available Funds Cap will not be applicable.
Group II Certificates
o Pass through rates on the Group II Certificates and the Class AF-1
Certificates adjust on each Distribution Date, generally to one month LIBOR
plus the applicable margin.
o Pass through rates on any Distribution Date for the Group II Certificates
will be capped at the Group II Available Funds Cap.
o Whenever a pass through rate for a Group II Certificate is capped, any
shortfall in interest on that certificate resulting from the application of
the cap will be carried over to subsequent Distribution Dates.
o For the Group II Certificates and the Class AF-1 certificates interest
accrues on each Distribution Date from and including the prior Distribution
Date (or from [June 14, 2000], the closing date, in the case of the first
Distribution Date) to and excluding that Distribution Date. All
calculations are made on the basis of an actual number of days and a year
of 360 days (actual/360).
Group II Available Funds Cap:
The Group II Available Funds Cap is calculated as the total scheduled interest
for the Group II Mortgage Loans for the related due period (net of the Servicing
Fee (including the master servicing fee), the ARM Component of the Class A-IO
Pass Through Rate and other fees) divided by the outstanding principal balance
of the respective group of certificates (divided by Act/360), except for period
1 in which the Group II Available Funds Cap will not be applicable.
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
INTEREST DISTRIBUTIONS
----------------------
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:
o To each class of the Class A Certificates, in the case of Group I, and the
Class AV-1 Certificates, in the case of Group II, the Current Interest and any
Interest Carryover Forward Amount for the class and Distribution Date;
provided, however, if the interest funds for Group I 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, their
interest funds will be distributed pro rata among each class of the Class A
Certificates based on the ratio of:
o The Current Interest and Interest Carry Forward Amount for that class to
o The total amount of Current Interest and any Interest Carry Forward Amount
of the Class A Certificates of the group;
o To the Class M-1 Certificates of the group, the Current Interest for that
class and Distribution Date;
o To the Class M-2 Certificates of the group, the Current Interest for that
class and Distribution Date;
o To the Class B-1 Certificates of the group, the Current Interest for that
class and Distribution Date;
o To the Class B-2 Certificates of the group, the Current Interest for that
class and Distribution Date;
o 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:
o To distribute an extra principal distribution amount on the related
certificates; o 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;
o In the case of Group II, in order of seniority, to distribute any carryover
amount;
o To distribute any remainder to the Class C and Class R Certificates.
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
PRINCIPAL DISTRIBUTIONS
-----------------------
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:
o 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 to
the Class AV-1 Certificates until the certificate principal balance of that
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;
o To the Class M-1 Certificates of the group, the Class M-1 Principal
Distribution Amount for that class;
o To the Class M-2 Certificates of the group, the Class M-2 Principal
Distribution Amount for that class;
o To the Class B-1 Certificates of the group, the Class B-1 Principal
Distribution Amount for that class;
o To the Class B-2 Certificates of the group, the Class B-2 Principal
Distribution Amount for that class;
Principal Payments: Payments of principal to the Certificates
are derived primarily from collections of
principal from the mortgage loans.
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:
o 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,
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
--------------------------------------------------------------------------------
o The Class A Principal Distribution
Amount with respect to Group I for
the Distribution Date and
o The applicable percentage for the
Distribution Date set forth in the
following table:
Distribution Date Percentage
----------------- ----------
July 2000 - June 2003 0%
July 2003 - June 2005 45%
July 2005 - June 2006 80%
July 2006 - June 2007 100%
July 2007 and thereafter 300%
Class A Principal Distribution For a group is
Amount:
o 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
o 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
o The related Class A Certificate
principal balance immediately
prior to the Distribution Date
over
----
lesser of
o 72.0% for Group I (65.0% for Group
II) of the scheduled principal
balances of the mortgage loans in
the group on the preceding due
date and
o 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 For a group, with respect to any
Amount: 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
o the sum for the group of
o the related Class A Certificate
principal balance (after giving
effect to distributions on that
date) and
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
o the related Class M-1 Certificate
principal balance immediately prior
to the Distribution Date over
----
the lesser of
o 83.0% for Group I (78.0% for Group
II) of the scheduled principal
balances of the mortgage loans in
the group on the preceding due
date and
o 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 For a group, with respect to any
Amount: 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
o the sum for the group of
o the related Class A Certificate
principal balance (after giving
effect to distributions on that
date),
o the related Class M-1 Certificate
principal balance (after giving
effect to distributions on that
date), and
o the related Class M-2 Certificate
principal balance immediately
prior to the Distribution Date
over
----
the lesser of
o 88.7% for Group I (87.6% for Group
II) of the scheduled principal
balances of the mortgage loans in
the group on the preceding due
date and
o 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 For a group, with respect to any
Amount: 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
o the sum for the group of
o the related Class A Certificate
principal balance (after giving
effect to distributions on that
date),
o the related Class M-1 Certificate
principal balance (after giving
effect to distributions on that
date),
o the related Class M-2 Certificate
principal balance (after giving
effect to distributions on that
date), and
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
o the related Class B-1 Certificate
principal balance immediately
prior to the Distribution Date
over
the lesser of
o 93.6% for Group I (92.5% for Group
II) of the scheduled principal
balances of the mortgage loans in
the group on the preceding due
date and
o 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-2 Principal Distribution For a group, with respect to any
Amount: 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
o the sum for the group of
o the related Class A Certificate
principal balance (after giving
effect to distributions on that
date),
o the related Class M-1 Certificate
principal balance (after giving
effect to distributions on that
date),
o the related Class M-2 Certificate
principal balance (after giving
effect to distributions on that
date), and
o the related Class B-1 Certificate
principal balance (after giving
effect to distributions on that
date), and
o the related Class B-2 Certificate
principal balance immediately
prior to the Distribution Date
over
the lesser of
o 97.5% for Group I (97.2% for Group
II) of the scheduled principal
balances of the mortgage loans in
the group on the preceding due
date and
o 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.
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
Principal Distribution Priorities: Group I
------------------------------------------
Principal Priority Prior to the Stepdown Date
(or if a Trigger Event exists)
Pay Sequentially
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
Class AF-1 AF-2 AF-3 AF-4 AF-5 AF-6 MF-1 MF-2 BF-1 BF-2
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------------------
87.25% 5.50% 2.85% 2.45% 1.95%
-----------------------------------------------------------------------------------------------------------------------
</TABLE>
Principal priority after the Stepdown Date
(assuming no Trigger Event)
Pay all bonds to maintain specified enhancement levels
Targeted
Enhancement
Percentage
------------- -------------
Class AF-1
AF-2 28.00%
AF-3
AF-4
AF-5
-------------
Mortage AF-6
Loans ------------- -------------
MF-1 17.00%
------------- -------------
MF-2 11.30%
------------- -------------
BF-1 6.40%
------------- -------------
BF-2 2.50%
------------- -------------
37 Month 53+
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
Principal Distribution Priorities: Group II
-------------------------------------------
Principal Priority Prior to the Stepdown Date
(or if a Trigger Event exists)
Pay Sequentially
<TABLE>
<CAPTION>
----------------------------------------------------------------------
Class AV-1 MV-1 MV-2 BV-1 BV-2
<S> <C> <C> <C> <C>
----------------------------------------------------------------------
83.90% 6.50% 4.80% 2.45% 2.35%
----------------------------------------------------------------------
0 Month 36
</TABLE>
Principal priority after the Stepdown Date
(assuming no Trigger Event)
Pay all bonds to maintain specified enhancement levels
Targeted
Enhancement
Percentage
------------- -------------
Class AV-1 35.00%
Mortage ------------- -------------
Loans MV-1 22.00%
------------- -------------
MV-2 12.40%
------------- -------------
BV-1 7.50%
------------- -------------
BV-2 2.80%
------------- -------------
37 Month 53+
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
DESCRIPTION OF THE EXPECTED COLLATERAL
TOTAL MORTGAGE LOANS
<TABLE>
<CAPTION>
Summary Total Minimum Maximum
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Statistical Cut-Off Date Aggregate Principal Balance $519,803,358.74
Number of Loans 5,416
Average Original Loan Balance 96,005.79 10,000.00 747,500.00
Average Current Loan Balance 95,975.51 10,000.00 747,500.00
*Weighted Average Combined LTV 77.30% 8.77% 100.00%
*Weighted Average Combined Original LTV 77.32% 8.77% 100.00%
*Weighted Average Gross Coupon 10.49% 6.92% 15.89%
*Weighted Average Remaining Term to Maturity (months) 276 56 360
**Weighted Average Credit Score 585 417 813
-----------------------------------------------------------------------------------------------------------------------------
* Weighted Average reflected in Total.
**96.72% of the mortgage moans have Credit Scores.
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Percent of Cut-Off Date
Range Principal Balance
----- -----------------
<S> <C> <C>
Product Type Fixed 66.21%
Adjustable 33.79%
Fully Amortizing Mortgage Loans 60.69%
Balloon Mortgage Loans 39.31%
Lien First 97.83%
Second 2.17%
Property Type Single Family Detached 81.39%
2-4 Family 5.86%
PUD 4.83%
Low Rise Condo 2.93%
Single Family Attached 1.95%
Manufactured Housing 1.74%
Others 1.30%
Occupancy Status Owner Occupied 94.72%
Non-Owner Occupied 5.28%
Geographic Distribution California 19.95%
Illinois 5.47%
Florida 5.32%
Michigan 4.84%
Texas 4.78%
Number of States (including DC) 49
Largest Zip Code Concentration 94605 0.24%
Loans with Mortgage Insurance 16.38%
Loans with Prepayment Penalties 75.17%
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
DESCRIPTION OF THE EXPECTED COLLATERAL
GROUP I MORTGAGE LOANS
<TABLE>
<CAPTION>
Summary Total Minimum Maximum
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Statistical Cut-Off Date Aggregate Principal Balance $344,180,209.23
Number of Loans 3,939
Average Original Loan Balance 87,401.42 10,000.00 515,000.00
Average Current Loan Balance 87,377.56 10,000.00 514,753.28
*Weighted Average Combined LTV 77.17% 8.77% 100.00%
*Weighted Average Combined Original LTV 77.19% 8.77% 100.00%
*Weighted Average Gross Coupon 10.53% 6.92% 15.89%
*Weighted Average Remaining Term to Maturity (months) 234 56 360
**Weighted Average Credit Score 592 417 813
-----------------------------------------------------------------------------------------------------------------------------
* Weighted Average reflected in Total.
**96.65% of the mortgage loans have Credit Scores.
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Percent of Cut-Off Date
Range Principal Balance
----- -----------------
<S> <C> <C>
Product Type Fixed 100.00%
Fully Amortizing Mortgage Loans 40.63%
Balloon Mortgage Loans 59.37%
Lien First 96.73%
Second 3.27%
Property Type Single Family Detached 82.09%
2-4 Family 5.80%
PUD 3.53%
Low Rise Condo 2.67%
Single Family Attached 2.21%
Manufactured Housing 2.16%
Others 1.54%
Occupancy Status Owner Occupied 93.93%
Non-Owner Occupied 6.07%
Geographic Distribution California 13.27%
Florida 6.33%
Pennsylvania 5.41%
Georgia 5.31%
Michigan 5.29%
Number of States (including DC) 49
Largest Zip Code Concentration 95116 0.21%
Loans with Mortgage Insurance 17.21%
Loans with Prepayment Penalties 72.06%
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
DESCRIPTION OF THE EXPECTED COLLATERAL
Group I Mortgage Loans
Range of Mortgage Interest Rates
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------
Number Of Aggregate Percent Of
Range of Gross Mortgage Loans Statistical Cut-Off Group I Loans By
Interest Rates Date Statistical Cut-Off Date
Principal Balance Principal Balance
-----------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
6.751% to 7.000% 2 $ 376,000.00 0.11%
-----------------------------------------------------------------------------------------------------
7.001% to 7.250% 2 71,000.00 0.02
-----------------------------------------------------------------------------------------------------
7.251% to 7.500% 4 401,916.97 0.12
-----------------------------------------------------------------------------------------------------
7.501% to 7.750% 16 1,902,440.87 0.55
-----------------------------------------------------------------------------------------------------
7.751% to 8.000% 37 4,752,927.53 1.38
-----------------------------------------------------------------------------------------------------
8.001% to 8.250% 30 4,008,041.19 1.16
-----------------------------------------------------------------------------------------------------
8.251% to 8.500% 73 8,799,253.29 2.56
-----------------------------------------------------------------------------------------------------
8.501% to 8.750% 77 8,363,791.65 2.43
-----------------------------------------------------------------------------------------------------
8.751% to 9.000% 132 15,734,979.00 4.57
-----------------------------------------------------------------------------------------------------
9.001% to 9.250% 130 12,971,800.40 3.77
-----------------------------------------------------------------------------------------------------
9.251% to 9.500% 213 23,489,746.00 6.82
-----------------------------------------------------------------------------------------------------
9.501% to 9.750% 249 26,232,355.60 7.62
-----------------------------------------------------------------------------------------------------
9.751% to 10.000% 332 29,438,632.64 8.55
-----------------------------------------------------------------------------------------------------
10.001% to 10.250% 213 19,475,239.01 5.66
-----------------------------------------------------------------------------------------------------
10.251% to 10.500% 289 26,673,071.90 7.75
-----------------------------------------------------------------------------------------------------
10.501% to 10.750% 299 26,118,514.71 7.59
-----------------------------------------------------------------------------------------------------
10.751% to 11.000% 344 29,634,065.82 8.61
-----------------------------------------------------------------------------------------------------
11.001% to 11.250% 193 16,126,199.30 4.69
-----------------------------------------------------------------------------------------------------
11.251% to 11.500% 227 17,628,430.07 5.12
-----------------------------------------------------------------------------------------------------
11.501% to 11.750% 170 13,923,309.21 4.05
-----------------------------------------------------------------------------------------------------
11.751% to 12.000% 210 14,865,579.86 4.32
-----------------------------------------------------------------------------------------------------
12.001% to 12.250% 126 9,285,000.50 2.70
-----------------------------------------------------------------------------------------------------
12.251% to 12.500% 127 8,261,463.72 2.40
-----------------------------------------------------------------------------------------------------
12.501% to 12.750% 102 6,276,656.79 1.82
-----------------------------------------------------------------------------------------------------
12.751% to 13.000% 112 7,457,422.18 2.17
-----------------------------------------------------------------------------------------------------
13.001% to 13.250% 60 3,458,462.87 1.00
-----------------------------------------------------------------------------------------------------
13.251% to 13.500% 48 2,336,561.92 0.68
-----------------------------------------------------------------------------------------------------
13.501% to 13.750% 42 2,140,273.51 0.62
-----------------------------------------------------------------------------------------------------
13.751% to 14.000% 32 1,792,394.53 0.52
-----------------------------------------------------------------------------------------------------
14.001% to 14.250% 14 526,795.00 0.15
-----------------------------------------------------------------------------------------------------
14.251% to 14.500% 14 683,410.26 0.20
-----------------------------------------------------------------------------------------------------
14.501% to 14.750% 12 703,429.51 0.20
-----------------------------------------------------------------------------------------------------
14.751% to 15.000% 5 170,121.28 0.05
-----------------------------------------------------------------------------------------------------
15.001% to 15.250% 1 45,600.00 0.01
-----------------------------------------------------------------------------------------------------
15.501% to 15.750% 1 35,000.00 0.01
-----------------------------------------------------------------------------------------------------
15.751% to 16.000% 1 20,322.14 0.01
-----------------------------------------------------------------------------------------------------
TOTAL 3,939 $344,180,209.23 100.00%
=====================================================================================================
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
Group I Mortgage Loans
Range of Remaining Terms to Stated Maturity
<TABLE>
<CAPTION>
Aggregate Percent Of
Statistical Cut-Off Group I Loans By
Number Of Date Statistical Cut-Off Date
Range of Remaining Terms Mortgage Loans Principal Balance Principal Balance
-----------------------------------------------------------------------------------------------------
<S> <C>
49 to 60 8 $ 231,030.29 0.07%
-----------------------------------------------------------------------------------------------------
109 to 120 46 1,689,193.86 0.49
-----------------------------------------------------------------------------------------------------
133 to 144 16 723,988.17 0.21
-----------------------------------------------------------------------------------------------------
169 to 180 2,627 232,857,104.93 67.66
-----------------------------------------------------------------------------------------------------
229 to 240 107 6,073,750.90 1.76
-----------------------------------------------------------------------------------------------------
289 to 300 7 343,342.00 0.10
-----------------------------------------------------------------------------------------------------
325 to 336 1 75,000.00 0.02
-----------------------------------------------------------------------------------------------------
337 to 348 1 97,073.96 0.03
-----------------------------------------------------------------------------------------------------
349 to 360 1,126 102,089,725.12 29.66
-----------------------------------------------------------------------------------------------------
TOTAL 3,939 $344,180,209.23 100.00%
=====================================================================================================
</TABLE>
Group I Mortgage Loans
Combined Loan-to-Value Ratio
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------
Aggregate Percent Of
Number Of Statistical Cut-Off Group I Loans By
Range of Mortgage Loans Date Statistical Cut-Off Date
Loan To Value Ratios Principal Balance Principal Balance
-------------------------------------------------------------------------------------------------------
<S> <C>
5.01% to 10.00% 2 $ 75,000.00 0.02%
-------------------------------------------------------------------------------------------------------
10.01% to 15.00% 1 34,400.00 0.01
-------------------------------------------------------------------------------------------------------
15.01% to 20.00% 8 284,100.00 0.08
-------------------------------------------------------------------------------------------------------
20.01% to 25.00% 20 832,387.97 0.24
-------------------------------------------------------------------------------------------------------
25.01% to 30.00% 19 834,633.37 0.24
-------------------------------------------------------------------------------------------------------
30.01% to 35.00% 36 1,800,535.97 0.52
-------------------------------------------------------------------------------------------------------
35.01% to 40.00% 46 2,906,862.09 0.84
-------------------------------------------------------------------------------------------------------
40.01% to 45.00% 44 2,545,202.67 0.74
-------------------------------------------------------------------------------------------------------
45.01% to 50.00% 107 6,158,185.90 1.79
-------------------------------------------------------------------------------------------------------
50.01% to 55.00% 111 7,036,270.02 2.04
-------------------------------------------------------------------------------------------------------
55.01% to 60.00% 136 10,947,393.52 3.18
-------------------------------------------------------------------------------------------------------
60.01% to 65.00% 237 17,786,609.89 5.17
-------------------------------------------------------------------------------------------------------
65.01% to 70.00% 358 29,628,633.87 8.61
-------------------------------------------------------------------------------------------------------
70.01% to 75.00% 487 43,178,257.44 12.55
-------------------------------------------------------------------------------------------------------
75.01% to 80.00% 1,039 96,037,475.12 27.90
-------------------------------------------------------------------------------------------------------
80.01% to 85.00% 528 47,968,398.96 13.94
-------------------------------------------------------------------------------------------------------
85.01% to 90.00% 688 69,757,151.70 20.27
-------------------------------------------------------------------------------------------------------
90.01% to 95.00% 55 5,888,777.82 1.71
-------------------------------------------------------------------------------------------------------
95.01% to 100.00% 17 479,932.92 0.14
-------------------------------------------------------------------------------------------------------
TOTAL 3,939 $344,180,209.23 100.00%
=======================================================================================================
</TABLE>
Banc of America Securities LLC
-------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
Group I Mortgage Loans
Combined Original Loan-to-Value Ratio
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------
Aggregate Percent Of
Statistical Cut-Off Group I Loans By
Number Of Date Statistical Cut-Off Date
Range of Mortgage Loans Principal Balance Principal Balance
Loan To Value Ratios
-------------------------------------------------------------------------------------------------------
<S><C>
5.01% to 10.00% 2 $ 75,000.00 0.02%
-------------------------------------------------------------------------------------------------------
10.01% to 15.00% 1 34,400.00 0.01
-------------------------------------------------------------------------------------------------------
15.01% to 20.00% 8 284,100.00 0.08
-------------------------------------------------------------------------------------------------------
20.01% to 25.00% 20 832,387.97 0.24
-------------------------------------------------------------------------------------------------------
25.01% to 30.00% 19 834,633.37 0.24
-------------------------------------------------------------------------------------------------------
30.01% to 35.00% 36 1,800,535.97 0.52
-------------------------------------------------------------------------------------------------------
35.01% to 40.00% 45 2,872,943.60 0.83
-------------------------------------------------------------------------------------------------------
40.01% to 45.00% 45 2,579,121.16 0.75
-------------------------------------------------------------------------------------------------------
45.01% to 50.00% 107 6,158,185.90 1.79
-------------------------------------------------------------------------------------------------------
50.01% to 55.00% 111 7,036,270.02 2.04
-------------------------------------------------------------------------------------------------------
55.01% to 60.00% 135 10,858,921.12 3.16
-------------------------------------------------------------------------------------------------------
60.01% to 65.00% 238 17,875,082.29 5.19
-------------------------------------------------------------------------------------------------------
65.01% to 70.00% 356 29,423,615.73 8.55
-------------------------------------------------------------------------------------------------------
70.01% to 75.00% 488 43,295,075.58 12.58
-------------------------------------------------------------------------------------------------------
75.01% to 80.00% 1,039 95,972,149.14 27.88
-------------------------------------------------------------------------------------------------------
80.01% to 85.00% 529 48,121,924.94 13.98
-------------------------------------------------------------------------------------------------------
85.01% to 90.00% 687 69,660,077.74 20.24
-------------------------------------------------------------------------------------------------------
90.01% to 95.00% 56 5,985,851.78 1.74
-------------------------------------------------------------------------------------------------------
95.01% to 100.00% 17 479,932.92 0.14
-------------------------------------------------------------------------------------------------------
TOTAL 3,939 $344,180,209.23 100.00%
=======================================================================================================
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
Group I Mortgage Loans
Current Principal Balance
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------
Aggregate Percent Of
Number Of Statistical Cut-Off Group I Loans By
Range of Mortgage Loans Date Statistical Cut-Off Date
Current Principal Balances Principal Balance Principal Balance
--------------------------------------------------------------------------------------------------------
<S> <C>
$.01 to 25,000.00 178 $ 3,753,329.04 1.09%
25,000.01 to 50,000.00 997 38,798,139.64 11.27
--------------------------------------------------------------------------------------------------------
50,000.01 to 75,000.00 1,055 65,002,013.06 18.89
--------------------------------------------------------------------------------------------------------
75,000.01 to 100,000.00 611 53,184,501.85 15.45
--------------------------------------------------------------------------------------------------------
100,000.01 to 125,000.00 389 43,218,897.58 12.56
--------------------------------------------------------------------------------------------------------
125,000.01 to 150,000.00 251 34,307,458.07 9.97
--------------------------------------------------------------------------------------------------------
150,000.01 to 175,000.00 121 19,577,940.26 5.69
--------------------------------------------------------------------------------------------------------
175,000.01 to 200,000.00 98 18,399,872.06 5.35
--------------------------------------------------------------------------------------------------------
200,000.01 to 225,000.00 60 12,812,485.76 3.72
--------------------------------------------------------------------------------------------------------
225,000.01 to 250,000.00 45 10,652,389.61 3.10
--------------------------------------------------------------------------------------------------------
250,000.01 to 275,000.00 36 9,410,304.19 2.73
--------------------------------------------------------------------------------------------------------
275,000.01 to 300,000.00 23 6,665,579.20 1.94
--------------------------------------------------------------------------------------------------------
300,000.01 to 325,000.00 17 5,297,690.99 1.54
--------------------------------------------------------------------------------------------------------
325,000.01 to 350,000.00 12 4,030,858.04 1.17
--------------------------------------------------------------------------------------------------------
350,000.01 to 375,000.00 14 5,065,545.44 1.47
--------------------------------------------------------------------------------------------------------
375,000.01 to 400,000.00 8 3,107,478.38 0.90
--------------------------------------------------------------------------------------------------------
400,000.01 to 425,000.00 7 2,902,251.85 0.84
--------------------------------------------------------------------------------------------------------
425,000.01 to 450,000.00 6 2,642,823.36 0.77
--------------------------------------------------------------------------------------------------------
450,000.01 to 475,000.00 3 1,379,900.00 0.40
--------------------------------------------------------------------------------------------------------
475,000.01 to 500,000.00 7 3,455,997.57 1.00
--------------------------------------------------------------------------------------------------------
500,000.01 to 525,000.00 1 514,753.28 0.15
--------------------------------------------------------------------------------------------------------
TOTAL 3,939 $344,180,209.23 100.00%
========================================================================================================
</TABLE>
Banc of America Securities LLC
-------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
<TABLE>
<CAPTION>
Group I Mortgage Loans
Credit Grade
----------------------------------------------------------------------------------------------------------
Aggregate Percent Of
Statistical Cut-Off Group I Loans By
Credit Grade of Number Of Date Statistical Cut-Off Date
Mortgage Loans Mortgage Loans Principal Balance Principal Balance
----------------------------------------------------------------------------------------------------------
<S> <C>
A 698 $62,762,637.53 18.24%
----------------------------------------------------------------------------------------------------------
A+ 424 45,260,185.78 13.15
----------------------------------------------------------------------------------------------------------
A- 1,340 124,955,822.54 36.31
----------------------------------------------------------------------------------------------------------
B 827 66,586,827.47 19.35
----------------------------------------------------------------------------------------------------------
C 543 37,776,277.09 10.98
----------------------------------------------------------------------------------------------------------
D 107 6,838,458.82 1.99
----------------------------------------------------------------------------------------------------------
TOTAL 3,939 $344,180,209.23 100.00%
==========================================================================================================
</TABLE>
Group I Mortgage Loans
Property Type
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------
Aggregate Percent Of
Statistical Cut-Off Group I Loans By
Property Type of Number Of Date Statistical Cut-Off Date
Mortgage Loans Mortgage Loans Principal Balance Principal Balance
----------------------------------------------------------------------------------------------------------
<S> <C>
Single Family Detached 3,217 $ 282,525,229.58 82.09%
----------------------------------------------------------------------------------------------------------
2-4 Family 220 19,977,217.50 5.80
----------------------------------------------------------------------------------------------------------
PUD 99 12,137,630.44 3.53
----------------------------------------------------------------------------------------------------------
Low Rise Condo 116 9,195,251.15 2.67
----------------------------------------------------------------------------------------------------------
Single Family Attached 113 7,596,057.48 2.21
----------------------------------------------------------------------------------------------------------
Manufactured Housing 122 7,422,844.62 2.16
----------------------------------------------------------------------------------------------------------
High Rise Condo 20 2,366,269.06 0.69
----------------------------------------------------------------------------------------------------------
Townhouse 27 2,176,944.13 0.63
----------------------------------------------------------------------------------------------------------
Deminimus PUD 5 782,765.27 0.23
----------------------------------------------------------------------------------------------------------
TOTAL 3,939 $344,180,209.23 100.00%
==========================================================================================================
</TABLE>
Group I Mortgage Loans
Occupancy
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------
Aggregate Percent Of
Statistical Cut-Off Group I Loans By
Occupancy Type of Number Of Date Statistical Cut-Off Date
Mortgage Premises Mortgage Loans Principal Balance Principal Balance
----------------------------------------------------------------------------------------------------------
<S> <C>
Primary 3,581 $320,363,196.35 93.08
----------------------------------------------------------------------------------------------------------
Investor 332 20,887,654.96 6.07%
----------------------------------------------------------------------------------------------------------
Second 26 2,929,357.92 0.85
----------------------------------------------------------------------------------------------------------
TOTAL 3,939 $344,180,209.23 100.00%
==========================================================================================================
</TABLE>
Banc of America Securities LLC
-------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
Group I Mortgage Loans
Prepayment Penalty Term
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------
Aggregate Percent Of
Statistical Cut-Off Group I Loans By
Prepayment Penalty Term of Number Of Date Statistical Cut-Off Date
Mortgage Loans Mortgage Loans Principal Balance Principal Balance
----------------------------------------------------------------------------------------------------------
<S> <C>
No Penalty 837 $68,302,437.89 19.84%
----------------------------------------------------------------------------------------------------------
Penalty According to State 389 27,878,352.24 8.10
----------------------------------------------------------------------------------------------------------
1.0 Year 35 3,552,164.15 1.03
----------------------------------------------------------------------------------------------------------
2.0 Years 44 4,213,053.81 1.22
----------------------------------------------------------------------------------------------------------
3.0 Years 463 44,724,212.72 12.99
----------------------------------------------------------------------------------------------------------
3.5 Years 1 112,000.00 0.03
----------------------------------------------------------------------------------------------------------
4.0 Years 4 312,100.00 0.09
----------------------------------------------------------------------------------------------------------
5.0 Years 2166 195,085,888.42 56.68
----------------------------------------------------------------------------------------------------------
TOTAL 3,939 $344,180,209.23 100.00%
==========================================================================================================
</TABLE>
Group I Mortgage Loans
Origination Program
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------
Aggregate Percent Of
Statistical Cut-Off Group I Loans By
Number Of Date Statistical Cut-Off Date
Origination Program Mortgage Loans Principal Balance Principal Balance
----------------------------------------------------------------------------------------------------------
<S> <C>
Full Documentation 3,222 $266,178,434.18 77.34%
----------------------------------------------------------------------------------------------------------
Limited Documentation 169 23,815,090.40 6.92
----------------------------------------------------------------------------------------------------------
No Ratio 35 2,380,870.00 0.69
----------------------------------------------------------------------------------------------------------
Stated Documentation 513 51,805,814.65 15.05
----------------------------------------------------------------------------------------------------------
TOTAL 3,939 $344,180,209.23 100.00%
==========================================================================================================
</TABLE>
Group I Mortgage Loans
Mortgage Loan Purpose
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------
Aggregate Percent Of
Statistical Cut-Off Group I Loans By
Number Of Date Statistical Cut-Off Date
Loan Purpose Mortgage Loans Principal Balance Principal Balance
----------------------------------------------------------------------------------------------------------
<S> <C>
Refinance (cash out) 2,751 $226,116,071.62 65.70%
----------------------------------------------------------------------------------------------------------
Purchase 791 76,387,813.51 22.19
----------------------------------------------------------------------------------------------------------
Refinance (no cash out) 397 41,676,324.10 12.11
----------------------------------------------------------------------------------------------------------
TOTAL 3,939 $344,180,209.23 100.00%
==========================================================================================================
</TABLE>
Banc of America Securities LLC
-------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
Group I Mortgage Loans
Product Type
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------
Aggregate Percent Of
Statistical Cut-Off Group I Loans By
Product Type of Number Of Date Statistical Cut-Off Date
Mortgage Loans Mortgage Loans Principal Balance Principal Balance
----------------------------------------------------------------------------------------------------------
<S> <C>
5 Y Fixed 8 $ 231,030.29 0.07%
----------------------------------------------------------------------------------------------------------
10 Y Fixed 46 1,689,193.86 0.49
----------------------------------------------------------------------------------------------------------
12 Y Fixed 16 723,988.17 0.21
----------------------------------------------------------------------------------------------------------
15 Y Fixed 487 28,514,645.71 8.28
----------------------------------------------------------------------------------------------------------
20 Y Fixed 107 6,073,750.90 1.76
----------------------------------------------------------------------------------------------------------
25 Y Fixed 7 343,342.00 0.10
----------------------------------------------------------------------------------------------------------
30 Y Fixed 1,128 102,261,799.08 29.71
----------------------------------------------------------------------------------------------------------
15/30 Balloon 2,140 204,342,459.22 59.37
----------------------------------------------------------------------------------------------------------
TOTAL 3,939 $344,180,209.23 100.00%
==========================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Group I Mortgage Loans
Geographical Distribution
-----------------------------------------------------------------------------------------------------
Aggregate Percent Of
Statistical Cut-Off Group I Loans By
Number Of Date Statistical Cut-Off Date
State Mortgage Loans Principal Balance Principal Balance
-----------------------------------------------------------------------------------------------------
<S><C>
California 339 $ 45,676,304.37 13.27%
-----------------------------------------------------------------------------------------------------
Florida 281 21,779,231.46 6.33
-----------------------------------------------------------------------------------------------------
Pennsylvania 255 18,608,257.63 5.41
-----------------------------------------------------------------------------------------------------
Georgia 239 18,280,942.48 5.31
-----------------------------------------------------------------------------------------------------
Michigan 261 18,215,197.01 5.29
-----------------------------------------------------------------------------------------------------
Texas 203 17,337,922.37 5.04
-----------------------------------------------------------------------------------------------------
Illinois 184 16,327,211.39 4.74
-----------------------------------------------------------------------------------------------------
Ohio 219 15,610,509.71 4.54
-----------------------------------------------------------------------------------------------------
New Jersey 117 13,809,333.77 4.01
-----------------------------------------------------------------------------------------------------
Virginia 145 13,201,825.98 3.84
-----------------------------------------------------------------------------------------------------
New York 97 10,576,499.15 3.07
-----------------------------------------------------------------------------------------------------
Arizona 103 10,352,841.18 3.01
-----------------------------------------------------------------------------------------------------
Tennessee 138 9,316,332.34 2.71
-----------------------------------------------------------------------------------------------------
Indiana 143 9,263,745.27 2.69
-----------------------------------------------------------------------------------------------------
Colorado 80 8,194,573.28 2.38
-----------------------------------------------------------------------------------------------------
Missouri 103 7,657,269.42 2.22
-----------------------------------------------------------------------------------------------------
Louisiana 100 7,203,269.95 2.09
-----------------------------------------------------------------------------------------------------
Maryland 69 6,802,946.68 1.98
-----------------------------------------------------------------------------------------------------
Connecticut 54 6,268,556.97 1.82
-----------------------------------------------------------------------------------------------------
Washington 62 6,013,908.73 1.75
-----------------------------------------------------------------------------------------------------
Hawaii 31 5,717,517.09 1.66
-----------------------------------------------------------------------------------------------------
Kentucky 74 5,452,900.06 1.58
-----------------------------------------------------------------------------------------------------
Minnesota 56 5,305,163.82 1.54
-----------------------------------------------------------------------------------------------------
Oklahoma 82 5,095,009.35 1.48
-----------------------------------------------------------------------------------------------------
North Carolina 60 4,853,371.61 1.41
-----------------------------------------------------------------------------------------------------
Oregon 33 4,028,575.27 1.17
-----------------------------------------------------------------------------------------------------
Wisconsin 48 3,521,780.21 1.02
-----------------------------------------------------------------------------------------------------
Kansas 38 3,186,190.89 0.93
-----------------------------------------------------------------------------------------------------
Massachusetts 30 3,039,443.16 0.88
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
<TABLE>
<S> <C>
-----------------------------------------------------------------------------------------------------
Utah 23 2,939,765.57 0.85
-----------------------------------------------------------------------------------------------------
Iowa 44 2,674,312.02 0.78
-----------------------------------------------------------------------------------------------------
Arkansas 30 2,279,342.49 0.66
-----------------------------------------------------------------------------------------------------
Mississippi 34 2,087,551.43 0.61
-----------------------------------------------------------------------------------------------------
Delaware 22 1,956,103.45 0.57
-----------------------------------------------------------------------------------------------------
New Mexico 25 1,749,081.49 0.51
-----------------------------------------------------------------------------------------------------
Idaho 19 1,532,842.20 0.45
-----------------------------------------------------------------------------------------------------
South Carolina 23 1,347,005.95 0.39
-----------------------------------------------------------------------------------------------------
Montana 6 1,153,250.00 0.34
-----------------------------------------------------------------------------------------------------
West Virginia 18 1,119,072.02 0.33
-----------------------------------------------------------------------------------------------------
Nevada 8 1,103,338.24 0.32
-----------------------------------------------------------------------------------------------------
Alaska 8 931,190.00 0.27
-----------------------------------------------------------------------------------------------------
New Hampshire 10 894,246.87 0.26
-----------------------------------------------------------------------------------------------------
Rhode Island 6 478,783.72 0.14
-----------------------------------------------------------------------------------------------------
Nebraska 8 435,460.00 0.13
-----------------------------------------------------------------------------------------------------
Maine 4 359,758.84 0.10
-----------------------------------------------------------------------------------------------------
Vermont 3 196,499.34 0.06
-----------------------------------------------------------------------------------------------------
Wyoming 3 174,725.00 0.05
-----------------------------------------------------------------------------------------------------
District of Columbia 1 71,250.00 0.02
-----------------------------------------------------------------------------------------------------
TOTAL 3,939 $344,180,209.23 100.00%
=====================================================================================================
</TABLE>
DESCRIPTION OF THE EXPECTED COLLATERAL
GROUP II MORTGAGE LOANS
<TABLE>
<CAPTION>
Summary Total Minimum Maximum
-----------------------------------------------------------------------------------------------------------------------------
<S> <C>
Statistical Cut-Off Date Aggregate Principal Balance $175,623,149.51
Number of Loans 1,477
Average Original Loan Balance 118,952.73 18,200.00 747,500.00
Average Current Loan Balance 118,905.31 18,190.07 747,500.00
*Weighted Average Original LTV 77.57% 20.00% 95.00%
*Weighted Average Current LTV 77.54% 20.00% 95.00%
*Weighted Average Gross Coupon 10.42% 7.24% 13.99%
*Weighted Average Remaining Term to Maturity (months) 359 348 360
**Weighted Average Credit Score 572 432 802
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
* Weighted Average reflected in Total.
**96.86% of the mortgage loans have Credit Scores.
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
Percent of Cut-Off Date
Range Principal Balance
----- -----------------
<S> <C>
Product Type Adjustable 100.00%
Fully Amortizing Mortgage Loans 100.00%
Balloon Mortgage Loans 0.00%
Lien First 100.00%
Second 0.00%
Property Type Single Family Detached 80.04%
2-4 Family 5.98%
PUD 7.39%
Low Rise Condo 3.44%
Single Family Attached 1.44%
Manufactured Housing 0.92%
Others 0.79%
Occupancy Status Owner Occupied 96.28%
Non-Owner Occupied 3.72%
Geographic Distribution California 33.04%
Illinois 6.89%
Washington 5.05%
Texas 4.27%
Michigan 3.96%
Number of States (including DC) 49
Largest Zip Code Concentration 90043 0.64%
Loans with Mortgage Insurance 14.75%
Loans with Prepayment Penalties 81.28%
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
Group II Mortgage Loans
Range of Mortgage Interest Rates
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------
Aggregate Percent Of
Number Of Statistical Cut-Off Group II Loans By
Range of Gross Mortgage Loans Date Statistical Cut-Off Date
Interest Rates Principal Balance Principal Balance
-----------------------------------------------------------------------------------------------------
<S> <C>
7.001% to 7.250% 1 $ 52,874.96 0.03%
-----------------------------------------------------------------------------------------------------
7.251% to 7.500% 2 191,350.00 0.11
-----------------------------------------------------------------------------------------------------
7.501% to 7.750% 1 73,000.00 0.04
-----------------------------------------------------------------------------------------------------
7.751% to 8.000% 6 678,535.75 0.39
-----------------------------------------------------------------------------------------------------
8.001% to 8.250% 6 667,224.47 0.38
-----------------------------------------------------------------------------------------------------
8.251% to 8.500% 14 2,732,930.55 1.56
-----------------------------------------------------------------------------------------------------
8.501% to 8.750% 26 3,586,246.48 2.04
-----------------------------------------------------------------------------------------------------
8.751% to 9.000% 57 8,281,405.67 4.72
-----------------------------------------------------------------------------------------------------
9.001% to 9.250% 54 6,295,003.31 3.58
-----------------------------------------------------------------------------------------------------
9.251% to 9.500% 78 12,029,179.01 6.85
-----------------------------------------------------------------------------------------------------
9.501% to 9.750% 121 15,034,801.10 8.56
-----------------------------------------------------------------------------------------------------
9.751% to 10.000% 158 22,985,712.01 13.09
-----------------------------------------------------------------------------------------------------
10.001% to 10.250% 93 12,116,475.96 6.90
-----------------------------------------------------------------------------------------------------
10.251% to 10.500% 144 19,476,522.28 11.09
-----------------------------------------------------------------------------------------------------
10.501% to 10.750% 120 12,823,192.46 7.30
-----------------------------------------------------------------------------------------------------
10.751% to 11.000% 145 16,225,885.45 9.24
-----------------------------------------------------------------------------------------------------
11.001% to 11.250% 73 8,557,419.52 4.87
-----------------------------------------------------------------------------------------------------
11.251% to 11.500% 92 9,511,095.73 5.42
-----------------------------------------------------------------------------------------------------
11.501% to 11.750% 73 6,455,383.11 3.68
-----------------------------------------------------------------------------------------------------
11.751% to 12.000% 85 7,568,271.50 4.31
-----------------------------------------------------------------------------------------------------
12.001% to 12.250% 23 2,013,565.72 1.15
-----------------------------------------------------------------------------------------------------
12.251% to 12.500% 34 2,604,229.62 1.48
-----------------------------------------------------------------------------------------------------
12.501% to 12.750% 21 1,490,240.93 0.85
-----------------------------------------------------------------------------------------------------
12.751% to 13.000% 23 1,907,238.14 1.09
-----------------------------------------------------------------------------------------------------
13.001% to 13.250% 11 934,515.78 0.53
-----------------------------------------------------------------------------------------------------
13.251% to 13.500% 9 753,250.00 0.43
-----------------------------------------------------------------------------------------------------
13.501% to 13.750% 2 103,450.00 0.06
-----------------------------------------------------------------------------------------------------
13.751% to 14.000% 5 474,150.00 0.27
-----------------------------------------------------------------------------------------------------
TOTAL 1,477 $175,623,149.51 100.00%
=====================================================================================================
</TABLE>
Banc of America Securities LLC
-------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
Group II Mortgage Loans
Range of Remaining Terms to Stated Maturity
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------
Aggregate Percent Of
Statistical Cut-Off Group II Loans By
Number Of Date Statistical Cut-Off Date
Range of Remaining Terms Mortgage Loans Principal Balance Principal Balance
-----------------------------------------------------------------------------------------------------
<S> <C>
337 to 348 1 $ 167,226.66 0.10%
-----------------------------------------------------------------------------------------------------
349 to 360 1,476 175,455,922.85 99.90
-----------------------------------------------------------------------------------------------------
TOTAL 1,477 $175,623,149.51 100.00%
=====================================================================================================
</TABLE>
Group II Mortgage Loans
Original Loan-to-Value Ratio
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------
Aggregate Percent Of
Number Of Statistical Cut-Off Group II Loans By
Range of Mortgage Loans Date Statistical Cut-Off Date
Loan-to-Value Ratios Principal Balance Principal Balance
-------------------------------------------------------------------------------------------------------
<S> <C>
15.01% to 20.00% 1 $ 22,000.00 0.01%
-------------------------------------------------------------------------------------------------------
20.01% to 25.00% 2 148,500.00 0.08
-------------------------------------------------------------------------------------------------------
25.01% to 30.00% 2 103,000.00 0.06
-------------------------------------------------------------------------------------------------------
30.01% to 35.00% 6 460,486.99 0.26
-------------------------------------------------------------------------------------------------------
35.01% to 40.00% 7 427,789.80 0.24
-------------------------------------------------------------------------------------------------------
40.01% to 45.00% 6 318,887.07 0.18
-------------------------------------------------------------------------------------------------------
45.01% to 50.00% 22 1,832,210.60 1.04
-------------------------------------------------------------------------------------------------------
50.01% to 55.00% 26 2,125,166.22 1.21
-------------------------------------------------------------------------------------------------------
55.01% to 60.00% 61 6,629,019.36 3.77
-------------------------------------------------------------------------------------------------------
60.01% to 65.00% 109 12,864,880.62 7.33
-------------------------------------------------------------------------------------------------------
65.01% to 70.00% 125 14,620,920.29 8.33
-------------------------------------------------------------------------------------------------------
70.01% to 75.00% 208 25,298,669.60 14.41
-------------------------------------------------------------------------------------------------------
75.01% to 80.00% 440 53,508,772.18 30.47
-------------------------------------------------------------------------------------------------------
80.01% to 85.00% 218 26,562,732.76 15.12
-------------------------------------------------------------------------------------------------------
85.01% to 90.00% 238 29,925,277.28 17.04
-------------------------------------------------------------------------------------------------------
90.01% to 95.00% 6 774,836.74 0.44
-------------------------------------------------------------------------------------------------------
TOTAL 1,477 $175,623,149.51 100.00%
=======================================================================================================
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
Group II Mortgage Loans
Current Loan-to-Value Ratio
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------
Aggregate Percent Of
Number Of Statistical Cut-Off Group II Loans By
Range of Mortgage Loans Date Statistical Cut-Off Date
Loan To Value Ratios Principal Balance Principal Balance
-------------------------------------------------------------------------------------------------------
<S> <C>
15.01% to 20.00% 1 $ 22,000.00 0.01%
-------------------------------------------------------------------------------------------------------
20.01% to 25.00% 2 148,500.00 0.08
-------------------------------------------------------------------------------------------------------
25.01% to 30.00% 2 103,000.00 0.06
-------------------------------------------------------------------------------------------------------
30.01% to 35.00% 6 460,486.99 0.26
-------------------------------------------------------------------------------------------------------
35.01% to 40.00% 7 427,789.80 0.24
-------------------------------------------------------------------------------------------------------
40.01% to 45.00% 6 318,887.07 0.18
-------------------------------------------------------------------------------------------------------
45.01% to 50.00% 22 1,832,210.60 1.04
-------------------------------------------------------------------------------------------------------
50.01% to 55.00% 26 2,125,166.22 1.21
-------------------------------------------------------------------------------------------------------
55.01% to 60.00% 61 6,629,019.36 3.77
-------------------------------------------------------------------------------------------------------
60.01% to 65.00% 109 12,864,880.62 7.33
-------------------------------------------------------------------------------------------------------
65.01% to 70.00% 125 14,620,920.29 8.33
-------------------------------------------------------------------------------------------------------
70.01% to 75.00% 208 25,298,669.60 14.41
-------------------------------------------------------------------------------------------------------
75.01% to 80.00% 442 53,741,035.37 30.60
-------------------------------------------------------------------------------------------------------
80.01% to 85.00% 219 26,733,502.54 15.22
-------------------------------------------------------------------------------------------------------
85.01% to 90.00% 235 29,522,244.31 16.81
-------------------------------------------------------------------------------------------------------
90.01% to 95.00% 6 774,836.74 0.44
-------------------------------------------------------------------------------------------------------
TOTAL 1,477 $175,623,149.51 100.00%
=======================================================================================================
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
<TABLE>
<CAPTION>
Group II Mortgage Loans
Credit Grade
----------------------------------------------------------------------------------------------------------
Credit Grade of Number Of Aggregate Percent Of
Mortgage Loans Mortgage Loans Statistical Cut-Off Group II Loans By
Date Statistical Cut-Off Date
Principal Balance Principal Balance
----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
A 18 $ 2,946,684.41 1.68%
----------------------------------------------------------------------------------------------------------
A+ 14 2,603,694.51 1.48
----------------------------------------------------------------------------------------------------------
A- 617 80,304,049.53 45.73
----------------------------------------------------------------------------------------------------------
B 406 48,151,755.18 27.42
----------------------------------------------------------------------------------------------------------
C 320 31,368,446.12 17.86
----------------------------------------------------------------------------------------------------------
D 102 10,248,519.76 5.84
----------------------------------------------------------------------------------------------------------
TOTAL 1,477 $175,623,149.51 100.00%
==========================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Group II Mortgage Loans
Current Principal Balance
----------------------------------------------------------------------------------------------------------
Number Of Aggregate Percent Of
Range of Mortgage Loans Statistical Cut-Off Group II Loans By
Current Principal Balances Date Statistical Cut-Off Date
Principal Balance Principal Balance
----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
----------------------------------------------------------------------------------------------------------
$.01 to 9 $ 200,478.90 0.11%
25,000.00
----------------------------------------------------------------------------------------------------------
25,000.01 to 50,000.00 185 7,294,792.14 4.15
----------------------------------------------------------------------------------------------------------
50,000.01 to 75,000.00 316 19,735,635.07 11.24
----------------------------------------------------------------------------------------------------------
75,000.01 to 100,000.00 273 23,866,677.44 13.59
----------------------------------------------------------------------------------------------------------
100,000.01 to 125,000.00 201 22,481,739.97 12.80
----------------------------------------------------------------------------------------------------------
125,000.01 to 150,000.00 165 22,688,390.28 12.92
----------------------------------------------------------------------------------------------------------
150,000.01 to 175,000.00 102 16,595,952.58 9.45
----------------------------------------------------------------------------------------------------------
175,000.01 to 200,000.00 56 10,529,711.56 6.00
----------------------------------------------------------------------------------------------------------
200,000.01 to 225,000.00 42 8,964,473.70 5.10
----------------------------------------------------------------------------------------------------------
225,000.01 to 250,000.00 28 6,649,884.22 3.79
----------------------------------------------------------------------------------------------------------
250,000.01 to 275,000.00 25 6,566,179.88 3.74
----------------------------------------------------------------------------------------------------------
275,000.01 to 300,000.00 20 5,735,757.33 3.27
----------------------------------------------------------------------------------------------------------
300,000.01 to 325,000.00 7 2,172,727.61 1.24
----------------------------------------------------------------------------------------------------------
325,000.01 to 350,000.00 6 2,002,528.65 1.14
----------------------------------------------------------------------------------------------------------
350,000.01 to 375,000.00 5 1,816,550.00 1.03
----------------------------------------------------------------------------------------------------------
375,000.01 to 400,000.00 6 2,352,807.38 1.34
----------------------------------------------------------------------------------------------------------
400,000.01 to 425,000.00 4 1,660,918.99 0.95
----------------------------------------------------------------------------------------------------------
425,000.01 to 450,000.00 4 1,748,797.20 1.00
----------------------------------------------------------------------------------------------------------
450,000.01 to 475,000.00 5 2,299,053.80 1.31
----------------------------------------------------------------------------------------------------------
475,000.01 to 500,000.00 3 1,478,785.53 0.84
----------------------------------------------------------------------------------------------------------
500,000.01 to 525,000.00 1 512,000.00 0.29
----------------------------------------------------------------------------------------------------------
525,000.01 to 550,000.00 4 2,149,368.58 1.22
----------------------------------------------------------------------------------------------------------
550,000.01 to 575,000.00 3 1,673,857.00 0.95
----------------------------------------------------------------------------------------------------------
575,000.01 to 600,000.00 3 1,750,283.16 1.00
----------------------------------------------------------------------------------------------------------
625,000.01 to 650,000.00 2 1,268,600.00 0.72
----------------------------------------------------------------------------------------------------------
675,000.01 to 700,000.00 1 679,698.54 0.39
----------------------------------------------------------------------------------------------------------
725,000.01 to 750,000.00 1 747,500.00 0.43
----------------------------------------------------------------------------------------------------------
TOTAL 1,477 $175,623,149.51 100.00%
==========================================================================================================
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
<TABLE>
<CAPTION>
Group II Mortgage Loans
Property Type
----------------------------------------------------------------------------------------------------------
Property Type of Number Of Aggregate Percent Of
Mortgage Loans Mortgage Loans Statistical Cut-Off Group II Loans By
Date Statistical Cut-Off Date
Principal Balance Principal Balance
----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
----------------------------------------------------------------------------------------------------------
Single Family Detached 1,176 $ 140,566,182.84 80.04%
----------------------------------------------------------------------------------------------------------
PUD 86 12,981,960.63 7.39
----------------------------------------------------------------------------------------------------------
2-4 Family 85 10,505,784.50 5.98
----------------------------------------------------------------------------------------------------------
Low Rise Condo 65 6,035,649.24 3.44
----------------------------------------------------------------------------------------------------------
Single Family Attached 30 2,522,963.03 1.44
----------------------------------------------------------------------------------------------------------
Manufactured Housing 21 1,621,347.91 0.92
----------------------------------------------------------------------------------------------------------
Townhouse 12 1,191,484.79 0.68
----------------------------------------------------------------------------------------------------------
High Rise Condo 2 197,776.57 0.11
----------------------------------------------------------------------------------------------------------
TOTAL 1,477 $175,623,149.51 100.00%
==========================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Group II Mortgage Loans
Occupancy
----------------------------------------------------------------------------------------------------------
Occupancy Type of Number Of Aggregate Percent Of
Mortgage Premises Mortgage Loans Statistical Cut-Off Group II Loans By
Date Statistical Cut-Off Date
Principal Balance Principal Balance
----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
----------------------------------------------------------------------------------------------------------
Primary 1,386 $ 168,815,137.66 96.12%
----------------------------------------------------------------------------------------------------------
Investor 88 6,539,373.12 3.72
----------------------------------------------------------------------------------------------------------
Second 3 268,638.73 0.15
----------------------------------------------------------------------------------------------------------
TOTAL 1,477 $175,623,149.51 100.00%
==========================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Group II Mortgage Loans
Prepayment Penalty Term
----------------------------------------------------------------------------------------------------------
Prepayment Penalty Term of Number Of Aggregate Percent Of
Mortgage Loans Mortgage Loans Statistical Cut-Off Group II Loans By
Date Statistical Cut-Off Date
Principal Balance Principal Balance
----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
----------------------------------------------------------------------------------------------------------
No Penalty 206 $24,316,951.58 13.85%
----------------------------------------------------------------------------------------------------------
Penalty According to State 84 8,558,982.91 4.87
----------------------------------------------------------------------------------------------------------
1.0 Year 28 4,023,391.63 2.29
----------------------------------------------------------------------------------------------------------
2.0 Years 328 39,615,039.69 22.56
----------------------------------------------------------------------------------------------------------
2.5 Years 2 245,438.73 0.14
----------------------------------------------------------------------------------------------------------
3.0 Years 505 63,468,980.69 36.14
----------------------------------------------------------------------------------------------------------
4.0 Years 4 612,150.00 0.35
----------------------------------------------------------------------------------------------------------
5.0 Years 320 34,782,214.28 19.81
----------------------------------------------------------------------------------------------------------
TOTAL 1,477 $175,623,149.51 100.00%
==========================================================================================================
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
<TABLE>
<CAPTION>
Group II Mortgage Loans
Origination Program
----------------------------------------------------------------------------------------------------------
Number Of Aggregate Percent Of
Origination Program Mortgage Loans Statistical Cut-Off Group II Loans By
Date Statistical Cut-Off Date
Principal Balance Principal Balance
----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
----------------------------------------------------------------------------------------------------------
Full Documentation 1,103 $124,936,211.54 71.14%
----------------------------------------------------------------------------------------------------------
Limited Documentation 65 11,132,000.07 6.34
----------------------------------------------------------------------------------------------------------
No Ratio 3 219,800.00 0.13
----------------------------------------------------------------------------------------------------------
Stated Documentation 306 39,335,137.90 22.40
----------------------------------------------------------------------------------------------------------
TOTAL 1,477 $175,623,149.51 100.00%
==========================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Group II Mortgage Loans
Mortgage Loan Purpose
----------------------------------------------------------------------------------------------------------
Number Of Aggregate Percent Of
Loan Purpose Mortgage Loans Statistical Cut-Off Group II Loans By
Date Statistical Cut-Off Date
Principal Balance Principal Balance
----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
----------------------------------------------------------------------------------------------------------
Refinance (cash out) 790 $92,273,729.11 52.54%
----------------------------------------------------------------------------------------------------------
Purchase 508 59,869,274.33 34.09
----------------------------------------------------------------------------------------------------------
Refinance (no cash out) 179 23,480,146.07 13.37
----------------------------------------------------------------------------------------------------------
TOTAL 1,477 $175,623,149.51 100.00%
==========================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Group II Mortgage Loans
Product Type
----------------------------------------------------------------------------------------------------------
Number Of Aggregate Percent Of
Product Type Mortgage Loans Statistical Cut-Off Group II Loans By
Date Statistical Cut-Off Date
Principal Balance Principal Balance
----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
----------------------------------------------------------------------------------------------------------
1/29 CMT 2 $ 279,650.00 0.16%
----------------------------------------------------------------------------------------------------------
2/28 LIBOR 721 82,928,686.84 47.22
----------------------------------------------------------------------------------------------------------
3/27 LIBOR 746 91,583,257.19 52.15
----------------------------------------------------------------------------------------------------------
Six Month LIBOR 8 831,555.48 0.47
----------------------------------------------------------------------------------------------------------
TOTAL 1,477 $175,623,149.51 100.00%
==========================================================================================================
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
<TABLE>
<CAPTION>
Group II Mortgage Loans
Geographical Distribution
-----------------------------------------------------------------------------------------------------
Number Of Aggregate Percent Of
State Mortgage Loans Statistical Cut-Off Group II Loans By
Date Statistical Cut-Off Date
Principal Balance Principal Balance
-----------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
-----------------------------------------------------------------------------------------------------
California 320 $ 58,028,997.95 33.04%
-----------------------------------------------------------------------------------------------------
Illinois 119 12,093,298.18 6.89
-----------------------------------------------------------------------------------------------------
Washington 72 8,865,972.74 5.05
-----------------------------------------------------------------------------------------------------
Texas 67 7,491,833.40 4.27
-----------------------------------------------------------------------------------------------------
Michigan 87 6,954,933.27 3.96
-----------------------------------------------------------------------------------------------------
Ohio 77 6,954,800.83 3.96
-----------------------------------------------------------------------------------------------------
Colorado 50 6,232,966.93 3.55
-----------------------------------------------------------------------------------------------------
Florida 68 5,898,654.71 3.36
-----------------------------------------------------------------------------------------------------
Minnesota 60 5,832,394.52 3.32
-----------------------------------------------------------------------------------------------------
Pennsylvania 63 5,724,750.76 3.26
-----------------------------------------------------------------------------------------------------
Arizona 37 4,808,107.11 2.74
-----------------------------------------------------------------------------------------------------
Oregon 31 4,183,678.80 2.38
-----------------------------------------------------------------------------------------------------
Virginia 27 3,562,604.73 2.03
-----------------------------------------------------------------------------------------------------
Indiana 46 3,392,531.01 1.93
-----------------------------------------------------------------------------------------------------
Georgia 32 3,037,998.06 1.73
-----------------------------------------------------------------------------------------------------
Connecticut 26 2,842,907.21 1.62
-----------------------------------------------------------------------------------------------------
Tennessee 24 2,820,097.86 1.61
-----------------------------------------------------------------------------------------------------
Utah 22 2,401,194.32 1.37
-----------------------------------------------------------------------------------------------------
New Jersey 14 2,383,684.26 1.36
-----------------------------------------------------------------------------------------------------
Wisconsin 26 2,158,442.41 1.23
-----------------------------------------------------------------------------------------------------
Missouri 29 1,978,435.04 1.13
-----------------------------------------------------------------------------------------------------
New York 11 1,661,310.08 0.95
-----------------------------------------------------------------------------------------------------
Maryland 12 1,642,910.03 0.94
-----------------------------------------------------------------------------------------------------
Idaho 11 1,577,701.88 0.90
-----------------------------------------------------------------------------------------------------
Nevada 13 1,475,947.21 0.84
-----------------------------------------------------------------------------------------------------
North Carolina 14 1,421,331.75 0.81
-----------------------------------------------------------------------------------------------------
Louisiana 9 1,339,400.00 0.76
-----------------------------------------------------------------------------------------------------
Kentucky 16 1,258,842.65 0.72
-----------------------------------------------------------------------------------------------------
Hawaii 9 1,247,567.70 0.71
-----------------------------------------------------------------------------------------------------
Iowa 14 937,866.00 0.53
-----------------------------------------------------------------------------------------------------
Massachusetts 6 768,048.90 0.44
-----------------------------------------------------------------------------------------------------
New Mexico 7 579,187.22 0.33
-----------------------------------------------------------------------------------------------------
South Carolina 8 576,004.12 0.33
-----------------------------------------------------------------------------------------------------
Alaska 4 536,115.58 0.31
-----------------------------------------------------------------------------------------------------
Mississippi 10 507,402.20 0.29
-----------------------------------------------------------------------------------------------------
Kansas 7 476,483.18 0.27
-----------------------------------------------------------------------------------------------------
Oklahoma 7 467,520.01 0.27
-----------------------------------------------------------------------------------------------------
West Virginia 3 293,977.71 0.17
-----------------------------------------------------------------------------------------------------
Nebraska 4 269,579.03 0.15
-----------------------------------------------------------------------------------------------------
Arkansas 4 187,412.99 0.11
-----------------------------------------------------------------------------------------------------
District of Columbia 2 168,200.00 0.10
-----------------------------------------------------------------------------------------------------
Rhode Island 2 175,957.17 0.10
-----------------------------------------------------------------------------------------------------
Delaware 2 100,200.00 0.06
-----------------------------------------------------------------------------------------------------
Wyoming 1 94,400.00 0.05
-----------------------------------------------------------------------------------------------------
Maine 1 73,800.00 0.04
-----------------------------------------------------------------------------------------------------
South Dakota 1 60,000.00 0.03
-----------------------------------------------------------------------------------------------------
Montana 1 37,700.00 0.02
-----------------------------------------------------------------------------------------------------
New Hampshire 1 40,000.00 0.02
-----------------------------------------------------------------------------------------------------
TOTAL 1,477 $175,623,149.51 100.00%
=====================================================================================================
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
<TABLE>
<CAPTION>
Group II Mortgage Loans
Range of Gross Margins
-----------------------------------------------------------------------------------------------------
Number Of Aggregate Percent Of
Range of Gross Mortgage Loans Statistical Cut-Off Group II Loans By
Interest Rates Date Statistical Cut-Off Date
Principal Balance Principal Balance
-----------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
-----------------------------------------------------------------------------------------------------
3.251% to 3.500% 1 $ 51,850.08 0.03%
-----------------------------------------------------------------------------------------------------
3.751% to 4.000% 4 1,119,290.18 0.64
-----------------------------------------------------------------------------------------------------
4.001% to 4.250% 9 1,345,470.12 0.77
-----------------------------------------------------------------------------------------------------
4.251% to 4.500% 11 1,367,769.96 0.78
-----------------------------------------------------------------------------------------------------
4.501% to 4.750% 9 1,848,024.23 1.05
-----------------------------------------------------------------------------------------------------
4.751% to 5.000% 51 6,308,613.28 3.59
-----------------------------------------------------------------------------------------------------
5.001% to 5.250% 63 8,442,476.67 4.81
-----------------------------------------------------------------------------------------------------
5.251% to 5.500% 99 11,467,774.29 6.53
-----------------------------------------------------------------------------------------------------
5.501% to 5.750% 94 13,533,468.67 7.71
-----------------------------------------------------------------------------------------------------
5.751% to 6.000% 188 21,428,198.62 12.20
-----------------------------------------------------------------------------------------------------
6.001% to 6.250% 161 20,781,607.11 11.83
-----------------------------------------------------------------------------------------------------
6.251% to 6.500% 227 27,885,806.99 15.88
-----------------------------------------------------------------------------------------------------
6.501% to 6.750% 119 13,674,976.29 7.79
-----------------------------------------------------------------------------------------------------
6.751% to 7.000% 171 19,747,986.45 11.24
-----------------------------------------------------------------------------------------------------
7.001% to 7.250% 113 11,414,321.65 6.50
-----------------------------------------------------------------------------------------------------
7.251% to 7.500% 72 7,086,740.76 4.04
-----------------------------------------------------------------------------------------------------
7.501% to 7.750% 23 2,117,744.95 1.21
-----------------------------------------------------------------------------------------------------
7.751% to 8.000% 25 3,572,167.32 2.03
-----------------------------------------------------------------------------------------------------
8.001% to 8.250% 17 1,022,616.97 0.58
-----------------------------------------------------------------------------------------------------
8.251% to 8.500% 8 769,729.91 0.44
-----------------------------------------------------------------------------------------------------
8.501% to 8.750% 5 243,010.45 0.14
-----------------------------------------------------------------------------------------------------
8.751% to 9.000% 2 132,172.83 0.08
-----------------------------------------------------------------------------------------------------
9.001% to 9.250% 2 122,581.73 0.07
-----------------------------------------------------------------------------------------------------
9.251% to 9.500% 1 46,500.00 0.03
-----------------------------------------------------------------------------------------------------
9.501% to 9.750% 1 55,200.00 0.03
-----------------------------------------------------------------------------------------------------
9.751% to 10.000% 1 37,050.00 0.02
-----------------------------------------------------------------------------------------------------
TOTAL 1,477 $175,623,149.51 100.00%
=====================================================================================================
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
<TABLE>
<CAPTION>
Group II Mortgage Loans
Range of Maximum Interest Rates
-----------------------------------------------------------------------------------------------------
Number Of Aggregate Percent Of
Range of Maximum Mortgage Loans Statistical Cut-Off Group II Loans By
Interest Rates Date Statistical Cut-Off Date
Principal Balance Principal Balance
-----------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
-----------------------------------------------------------------------------------------------------
13.001% to 13.500% 3 $ 244,224.96 0.14%
-----------------------------------------------------------------------------------------------------
13.501% to 14.000% 7 751,535.75 0.43
-----------------------------------------------------------------------------------------------------
14.001% to 14.500% 19 3,319,255.02 1.89
-----------------------------------------------------------------------------------------------------
14.501% to 15.000% 61 8,962,309.77 5.10
-----------------------------------------------------------------------------------------------------
15.001% to 15.500% 85 11,344,830.88 6.46
-----------------------------------------------------------------------------------------------------
15.501% to 16.000% 170 22,182,757.79 12.63
-----------------------------------------------------------------------------------------------------
16.001% to 16.500% 159 20,627,286.82 11.75
-----------------------------------------------------------------------------------------------------
16.501% to 17.000% 239 28,958,896.26 16.49
-----------------------------------------------------------------------------------------------------
17.001% to 17.500% 197 24,875,915.89 14.16
-----------------------------------------------------------------------------------------------------
17.501% to 18.000% 225 24,531,083.11 13.97
-----------------------------------------------------------------------------------------------------
18.001% to 18.500% 113 12,708,346.60 7.24
-----------------------------------------------------------------------------------------------------
18.501% to 19.000% 109 9,813,191.91 5.59
-----------------------------------------------------------------------------------------------------
19.001% to 19.500% 43 3,447,240.43 1.96
-----------------------------------------------------------------------------------------------------
19.501% to 20.000% 26 1,986,338.01 1.13
-----------------------------------------------------------------------------------------------------
20.001% to 20.500% 15 1,368,536.31 0.78
-----------------------------------------------------------------------------------------------------
20.501% to 21.000% 6 501,400.00 0.29
-----------------------------------------------------------------------------------------------------
TOTAL 1,477 $175,623,149.51 100.00%
=====================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Group II Mortgage Loans
Index
-----------------------------------------------------------------------------------------------------
Adjustable Rate Number Of Aggregate Percent Of
Index Mortgage Loans Statistical Cut-Off Group II Loans By
Date Statistical Cut-Off Date
Principal Balance Principal Balance
-----------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
-----------------------------------------------------------------------------------------------------
6 Month LIBOR 1,475 99.84%
$175,343,499.51
-----------------------------------------------------------------------------------------------------
1 Year CMT 2 0.16
279,650.00
-----------------------------------------------------------------------------------------------------
TOTAL 1,477 $175,623,149.51 100.00%
=====================================================================================================
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
<TABLE>
<CAPTION>
Group II Mortgage Loans
Range of Minimum Interest Rates
-----------------------------------------------------------------------------------------------------
Number Of Aggregate Percent Of
Range of Minimum Mortgage Loans Statistical Cut-Off Group II Loans By
Interest Rates Date Statistical Cut-Off Date
Principal Balance Principal Balance
-----------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
-----------------------------------------------------------------------------------------------------
4.751% to 5.000% 2 $ 773,557.15 0.44%
-----------------------------------------------------------------------------------------------------
5.001% to 5.250% 5 1,203,790.57 0.69
-----------------------------------------------------------------------------------------------------
5.251% to 5.500% 1 90,256.73 0.05
-----------------------------------------------------------------------------------------------------
5.501% to 5.750% 9 2,134,579.91 1.22
-----------------------------------------------------------------------------------------------------
5.751% to 6.000% 3 415,414.23 0.24
-----------------------------------------------------------------------------------------------------
6.001% to 6.250% 3 681,527.67 0.39
-----------------------------------------------------------------------------------------------------
7.001% to 7.250% 2 198,224.96 0.11
-----------------------------------------------------------------------------------------------------
7.251% to 7.500% 2 191,350.00 0.11
-----------------------------------------------------------------------------------------------------
7.501% to 7.750% 5 693,478.08 0.39
-----------------------------------------------------------------------------------------------------
7.751% to 8.000% 6 574,242.61 0.33
-----------------------------------------------------------------------------------------------------
8.001% to 8.250% 10 2,015,824.46 1.15
-----------------------------------------------------------------------------------------------------
8.251% to 8.500% 16 2,503,928.21 1.43
-----------------------------------------------------------------------------------------------------
8.501% to 8.750% 25 3,286,423.60 1.87
-----------------------------------------------------------------------------------------------------
8.751% to 9.000% 51 6,404,176.56 3.65
-----------------------------------------------------------------------------------------------------
9.001% to 9.250% 51 5,837,640.16 3.32
-----------------------------------------------------------------------------------------------------
9.251% to 9.500% 72 10,611,838.49 6.04
-----------------------------------------------------------------------------------------------------
9.501% to 9.750% 116 14,227,107.61 8.10
-----------------------------------------------------------------------------------------------------
9.751% to 10.000% 157 22,922,166.67 13.05
-----------------------------------------------------------------------------------------------------
10.001% to 10.250% 91 10,972,805.31 6.25
-----------------------------------------------------------------------------------------------------
10.251% to 10.500% 139 18,801,191.10 10.71
-----------------------------------------------------------------------------------------------------
10.501% to 10.750% 120 12,823,192.46 7.30
-----------------------------------------------------------------------------------------------------
10.751% to 11.000% 143 16,056,030.35 9.14
-----------------------------------------------------------------------------------------------------
11.001% to 11.250% 73 8,565,071.77 4.88
-----------------------------------------------------------------------------------------------------
11.251% to 11.500% 92 9,511,095.73 5.42
-----------------------------------------------------------------------------------------------------
11.501% to 11.750% 72 6,420,405.03 3.66
-----------------------------------------------------------------------------------------------------
11.751% to 12.000% 84 7,495,171.50 4.27
-----------------------------------------------------------------------------------------------------
12.001% to 12.250% 23 1,980,459.12 1.13
-----------------------------------------------------------------------------------------------------
12.251% to 12.500% 33 2,569,354.62 1.46
-----------------------------------------------------------------------------------------------------
12.501% to 12.750% 21 1,490,240.93 0.85
-----------------------------------------------------------------------------------------------------
12.751% to 13.000% 23 1,907,238.14 1.09
-----------------------------------------------------------------------------------------------------
13.001% to 13.250% 11 934,515.78 0.53
-----------------------------------------------------------------------------------------------------
13.251% to 13.500% 9 753,250.00 0.43
-----------------------------------------------------------------------------------------------------
13.501% to 13.750% 2 103,450.00 0.06
-----------------------------------------------------------------------------------------------------
13.751% to 14.000% 5 474,150.00 0.27
-----------------------------------------------------------------------------------------------------
TOTAL 1,477 $175,623,149.51 100.00%
=====================================================================================================
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
<TABLE>
<CAPTION>
Group II Mortgage Loans
Next Interest Adjustment Date
-----------------------------------------------------------------------------------------------------
Interest Adjustment Date Number Of Aggregate Percent Of
Mortgage Loans Statistical Cut-Off Group II Loans By
Date Statistical Cut-Off Date
Principal Balance Principal Balance
-----------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
-----------------------------------------------------------------------------------------------------
July 2000 1 $ 97,974.47 0.06%
-----------------------------------------------------------------------------------------------------
August 2000 2 268,077.15 0.15
-----------------------------------------------------------------------------------------------------
September 2000 4 374,603.86 0.21
-----------------------------------------------------------------------------------------------------
October 2000 1 90,900.00 0.05
-----------------------------------------------------------------------------------------------------
March 2001 1 211,650.00 0.12
-----------------------------------------------------------------------------------------------------
April 2001 2 235,226.66 0.13
-----------------------------------------------------------------------------------------------------
August 2001 4 534,181.14 0.30
-----------------------------------------------------------------------------------------------------
September 2001 1 70,949.64 0.04
-----------------------------------------------------------------------------------------------------
October 2001 5 863,907.05 0.49
-----------------------------------------------------------------------------------------------------
November 2001 3 309,659.77 0.18
-----------------------------------------------------------------------------------------------------
December 2001 13 1,542,211.83 0.88
-----------------------------------------------------------------------------------------------------
January 2002 33 4,530,753.90 2.58
-----------------------------------------------------------------------------------------------------
February 2002 110 17,320,962.80 9.86
-----------------------------------------------------------------------------------------------------
March 2002 202 21,176,389.84 12.06
-----------------------------------------------------------------------------------------------------
April 2002 268 27,941,226.21 15.91
-----------------------------------------------------------------------------------------------------
May 2002 82 8,514,176.54 4.85
-----------------------------------------------------------------------------------------------------
July 2002 3 235,204.72 0.13
-----------------------------------------------------------------------------------------------------
September 2002 2 258,350.00 0.15
-----------------------------------------------------------------------------------------------------
October 2002 2 153,393.17 0.09
-----------------------------------------------------------------------------------------------------
November 2002 4 397,655.88 0.23
-----------------------------------------------------------------------------------------------------
December 2002 11 897,712.39 0.51
-----------------------------------------------------------------------------------------------------
January 2003 38 4,430,825.48 2.52
-----------------------------------------------------------------------------------------------------
February 2003 116 16,598,544.30 9.45
-----------------------------------------------------------------------------------------------------
March 2003 239 28,854,755.72 16.43
-----------------------------------------------------------------------------------------------------
April 2003 245 28,661,466.99 16.32
-----------------------------------------------------------------------------------------------------
May 2003 85 11,052,390.00 6.29
-----------------------------------------------------------------------------------------------------
TOTAL 1,477 $175,623,149.51 100.00%
=====================================================================================================
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
<TABLE>
<CAPTION>
BOND SUMMARY (to Maturity)
AF-1 (To Maturity)
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Average Life (yrs.) 9.58 1.50 1.14 0.95 0.83 0.75 0.69
Modified Duration (yrs.) 6.37 1.37 1.06 0.89 0.78 0.71 0.65
First Principal Payment Date 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00
Last Principal Payment Date 5/25/15 3/25/03 6/25/02 1/25/02 10/25/01 8/25/01 7/25/01
Payment Windows (mos.) 179 33 24 19 16 14 13
AF-2 (To Maturity)
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
Yield 99.99991% 8.169 8.056 7.991 7.931 7.875 7.823 7.775
Average Life (yrs.) 15.00 3.65 2.55 2.00 1.66 1.44 1.28
Modified Duration (yrs.) 8.42 3.05 2.23 1.79 1.50 1.31 1.18
First Principal Payment Date 5/25/15 3/25/03 6/25/02 1/25/02 10/25/01 8/25/01 7/25/01
Last Principal Payment Date 6/25/15 12/25/04 7/25/03 11/25/02 5/25/02 2/25/02 12/25/01
Payment Windows (mos.) 2 22 14 11 8 7 6
AF-3 (To Maturity)
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
Yield 99.99798% 8.129 8.076 8.030 7.985 7.942 7.901 7.861
Average Life (yrs.) 15.03 6.00 3.98 3.00 2.43 2.06 1.79
Modified Duration (yrs.) 8.45 4.58 3.29 2.58 2.13 1.83 1.61
First Principal Payment Date 6/25/15 12/25/04 7/25/03 11/25/02 5/25/02 2/25/02 12/25/01
Last Principal Payment Date 6/25/15 11/25/08 7/25/05 3/25/04 5/25/03 11/25/02 7/25/02
Payment Windows (mos.) 1 48 25 17 13 10 8
AF-4 (To Maturity)
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
Yield @ 99.99831% 8.448 8.433 8.405 8.369 8.334 8.292 8.252
Average Life (yrs.) 17.84 11.75 7.38 5.00 3.83 2.98 2.46
Modified Duration (yrs.) 8.90 7.19 5.27 3.93 3.16 2.55 2.15
First Principal Payment Date 6/25/15 11/25/08 7/25/05 3/25/04 5/25/03 11/25/02 7/25/02
Last Principal Payment Date 3/25/24 5/25/15 3/25/11 2/25/07 5/25/05 5/25/04 4/25/03
Payment Windows (mos.) 106 79 69 36 25 19 10
AF-5 (To Maturity)
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
Yield @ 99.99909% 8.682 8.693 8.716 8.731 8.721 8.680 8.598
Average Life (yrs.) 27.20 16.88 14.25 11.39 8.68 6.39 4.33
Modified Duration (yrs.) 10.20 8.56 7.91 6.92 5.72 4.59 3.42
First Principal Payment Date 3/25/24 5/25/15 3/25/11 2/25/07 5/25/05 5/25/04 4/25/03
Last Principal Payment Date 4/25/30 6/25/27 8/25/22 1/25/18 6/25/15 12/25/14 9/25/12
Payment Windows (mos.) 74 146 138 132 122 128 114
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
BOND SUMMARY (to Maturity)
AF-6 (To Maturity)
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Yield @ 100.00% 8.201 8.177 8.170 8.165 8.162 8.160 8.160
Average Life (yrs.) 12.66 8.17 7.38 6.88 6.60 6.47 6.48
Modified Duration (yrs.) 7.54 5.63 5.26 5.01 4.87 4.80 4.80
First Principal Payment Date 7/25/03 7/25/03 7/25/03 7/25/03 8/25/03 11/25/03 2/25/04
Last Principal Payment Date 6/25/15 6/25/15 6/25/15 6/25/15 6/25/15 10/25/14 7/25/12
Payment Windows (mos.) 144 144 144 144 143 132 102
MF-1 (To Maturity)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Yield @ 99.99961% 8.572 8.562 8.558 8.556 8.544 8.530 8.519
Average Life (yrs.) 19.68 12.06 9.19 7.34 5.95 5.08 4.57
Modified Duration (yrs.) 9.06 7.11 5.96 5.06 4.35 3.88 3.60
First Principal Payment Date 6/25/15 10/25/06 11/25/04 11/25/03 7/25/03 9/25/03 10/25/03
Last Principal Payment Date 11/25/29 7/25/22 11/25/16 6/25/15 1/25/14 9/25/11 12/25/09
Payment Windows (mos.) 174 190 145 140 127 97 75
MF-2 (To Maturity)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Yield @ 98.69726% 8.942 8.968 9.001 9.037 9.065 9.089 9.107
Average Life (yrs.) 19.65 11.90 9.17 7.29 5.86 4.98 4.42
Modified Duration (yrs.) 8.85 6.95 5.86 4.98 4.26 3.78 3.47
First Principal Payment Date 6/25/15 10/25/06 11/25/04 11/25/03 7/25/03 8/25/03 9/25/03
Last Principal Payment Date 6/25/29 8/25/19 6/25/15 5/25/15 6/25/12 5/25/10 10/25/08
Payment Windows (mos.) 169 155 128 139 108 82 62
BF-1 (To Maturity)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Yield @ 93.99617% 9.500 9.677 9.825 10.007 10.201 10.376 10.522
Average Life (yrs.) 19.57 11.68 9.17 7.11 5.72 4.84 4.28
Modified Duration (yrs.) 8.59 6.75 5.72 4.81 4.12 3.65 3.33
First Principal Payment Date 6/25/15 10/25/06 11/25/04 11/25/03 7/25/03 7/25/03 8/25/03
Last Principal Payment Date 12/25/28 12/25/16 6/25/15 10/25/13 3/25/11 4/25/09 11/25/07
Payment Windows (mos.) 163 123 128 120 93 70 52
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
BOND SUMMARY (to Maturity)
AV-1 (To Maturity)
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Average Life (yrs.) 21.53 4.96 3.49 2.69 2.16 1.74 1.47
Modified Duration (yrs.) 10.32 3.66 2.80 2.26 1.88 1.56 1.34
First Principal Payment Date 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00
Last Principal Payment Date 5/25/30 4/25/25 1/25/18 5/25/13 6/25/10 6/25/08 3/25/03
Payment Windows (mos.) 359 298 211 155 120 96 33
MV-1 (To Maturity)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Average Life (yrs.) 27.73 9.12 6.21 4.84 4.32 4.49 4.47
Modified Duration (yrs.) 11.56 6.17 4.68 3.87 3.56 3.70 3.68
First Principal Payment Date 4/25/25 10/25/04 7/25/03 9/25/03 11/25/03 3/25/04 3/25/03
Last Principal Payment Date 5/25/30 7/25/21 11/25/14 1/25/11 8/25/08 1/25/07 12/25/06
Payment Windows (mos.) 62 202 137 89 58 35 46
MV-2 (To Maturity)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Average Life (yrs.) 27.73 9.02 6.13 4.74 4.09 3.86 3.52
Modified Duration (yrs.) 11.11 6.03 4.58 3.77 3.36 3.22 2.98
First Principal Payment Date 4/25/25 10/25/04 7/25/03 8/25/03 9/25/03 10/25/03 7/25/03
Last Principal Payment Date 4/25/30 8/25/19 5/25/13 12/25/09 11/25/07 6/25/06 5/25/05
Payment Windows (mos.) 61 179 119 77 51 33 23
BV-1 (To Maturity)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Average Life (yrs.) 27.71 8.83 6.00 4.63 3.95 3.63 3.25
Modified Duration (yrs.) 9.95 5.66 4.35 3.58 3.18 2.97 2.71
First Principal Payment Date 4/25/25 10/25/04 7/25/03 7/25/03 8/25/03 9/25/03 6/25/03
Last Principal Payment Date 2/25/30 1/25/17 8/25/11 9/25/08 11/25/06 8/25/05 10/25/04
Payment Windows (mos.) 59 148 98 63 40 24 17
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
BOND SUMMARY (to Call)
AF-1 (To Call)
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Average Life (yrs.) 9.58 1.50 1.14 0.95 0.83 0.75 0.69
Modified Duration (yrs.) 6.37 1.37 1.06 0.89 0.78 0.71 0.65
First Principal Payment Date 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00
Last Principal Payment Date 5/25/15 3/25/03 6/25/02 1/25/02 10/25/01 8/25/01 7/25/01
Payment Windows (mos.) 179 33 24 19 16 14 13
AF-2 (To Call)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Yield @ 99.99991% 8.169 8.056 7.991 7.931 7.875 7.823 7.775
Average Life (yrs.) 15.00 3.65 2.55 2.00 1.66 1.44 1.28
Modified Duration (yrs.) 8.42 3.05 2.23 1.79 1.50 1.31 1.18
First Principal Payment Date 5/25/15 3/25/03 6/25/02 1/25/02 10/25/01 8/25/01 7/25/01
Last Principal Payment Date 6/25/15 12/25/04 7/25/03 11/25/02 5/25/02 2/25/02 12/25/01
Payment Windows (mos.) 2 22 14 11 8 7 6
AF-3 (To Call)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Yield @ 99.99798% 8.129 8.076 8.030 7.985 7.942 7.901 7.861
Average Life (yrs.) 15.03 6.00 3.98 3.00 2.43 2.06 1.79
Modified Duration (yrs.) 8.45 4.58 3.29 2.58 2.13 1.83 1.61
First Principal Payment Date 6/25/15 12/25/04 7/25/03 11/25/02 5/25/02 2/25/02 12/25/01
Last Principal Payment Date 6/25/15 11/25/08 7/25/05 3/25/04 5/25/03 11/25/02 7/25/02
Payment Windows (mos.) 1 48 25 17 13 10 8
AF-4 (To Call)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Yield @ 99.99831% 8.448 8.433 8.405 8.369 8.334 8.292 8.252
Average Life (yrs.) 17.84 11.75 7.38 5.00 3.83 2.98 2.46
Modified Duration (yrs.) 8.90 7.19 5.27 3.93 3.16 2.55 2.15
First Principal Payment Date 6/25/15 11/25/08 7/25/05 3/25/04 5/25/03 11/25/02 7/25/02
Last Principal Payment Date 3/25/24 5/25/15 3/25/11 2/25/07 5/25/05 5/25/04 4/25/03
Payment Windows (mos.) 106 79 69 36 25 19 10
AF-5 (To Call)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Yield @ 99.99909% 8.681 8.667 8.657 8.640 8.618 8.594 8.561
Average Life (yrs.) 26.94 15.02 11.63 8.62 6.48 5.11 3.97
Modified Duration (yrs.) 10.18 8.17 7.12 5.89 4.79 3.99 3.24
First Principal Payment Date 3/25/24 5/25/15 3/25/11 2/25/07 5/25/05 5/25/04 4/25/03
Last Principal Payment Date 10/25/28 6/25/15 2/25/12 4/25/09 7/25/07 4/25/06 5/25/05
Payment Windows (mos.) 56 2 12 27 27 24 26
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
BOND SUMMARY (to Call)
AF-6 (To Call)
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Yield @ 100.0% 8.201 8.177 8.170 8.163 8.156 8.145 8.132
Average Life (yrs.) 12.66 8.17 7.32 6.70 6.10 5.41 4.80
Modified Duration (yrs.) 7.54 5.63 5.24 4.93 4.62 4.22 3.84
First Principal Payment Date 7/25/03 7/25/03 7/25/03 7/25/03 8/25/03 11/25/03 2/25/04
Last Principal Payment Date 6/25/15 6/25/15 2/25/12 4/25/09 7/25/07 4/25/06 5/25/05
Payment Windows (mos.) 144 144 104 70 48 30 16
MF-1 (To Call)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Yield @ 99.99961% 8.572 8.554 8.536 8.515 8.494 8.476 8.464
Average Life (yrs.) 19.61 11.64 8.52 6.48 5.22 4.47 4.06
Modified Duration (yrs.) 9.06 7.01 5.73 4.73 4.02 3.57 3.31
First Principal Payment Date 6/25/15 10/25/06 11/25/04 11/25/03 7/25/03 9/25/03 10/25/03
Last Principal Payment Date 10/25/28 6/25/15 2/25/12 4/25/09 7/25/07 4/25/06 5/25/05
Payment Windows (mos.) 161 105 88 66 49 32 20
MF-2 (To Call)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Yield @ 98.69726% 8.941 8.965 8.988 9.015 9.042 9.067 9.086
Average Life (yrs.) 19.61 11.64 8.52 6.48 5.22 4.44 3.97
Modified Duration (yrs.) 8.84 6.89 5.65 4.67 3.97 3.51 3.21
First Principal Payment Date 6/25/15 10/25/06 11/25/04 11/25/03 7/25/03 8/25/03 9/25/03
Last Principal Payment Date 10/25/28 6/25/15 2/25/12 4/25/09 7/25/07 4/25/06 5/25/05
Payment Windows (mos.) 161 105 88 66 49 33 21
BF-1 (To Call)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Yield @ 93.99617% 9.500 9.678 9.857 10.066 10.278 10.470 10.627
Average Life (yrs.) 19.57 11.64 8.52 6.48 5.22 4.42 3.93
Modified Duration (yrs.) 8.59 6.74 5.54 4.59 3.90 3.44 3.14
First Principal Payment Date 6/25/15 10/25/06 11/25/04 11/25/03 7/25/03 7/25/03 8/25/03
Last Principal Payment Date 10/25/28 6/25/15 2/25/12 4/25/09 7/25/07 4/25/06 5/25/05
Payment Windows (mos.) 161 105 88 66 49 34 22
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
BOND SUMMARY (to Call)
AV-1 (To Call)
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Average Life (yrs.) 21.40 4.80 3.43 2.65 2.14 1.73 1.47
Modified Duration (yrs.) 10.30 3.62 2.77 2.24 1.86 1.54 1.34
First Principal Payment Date 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00
Last Principal Payment Date 10/25/28 6/25/15 2/25/12 4/25/09 7/25/07 4/25/06 3/25/03
Payment Windows (mos.) 340 180 140 106 85 70 33
MV-1 (To Call)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Average Life (yrs.) 27.39 8.77 6.11 4.78 4.29 4.47 4.31
Modified Duration (yrs.) 11.52 6.07 4.64 3.84 3.54 3.69 3.57
First Principal Payment Date 4/25/25 10/25/04 7/25/03 9/25/03 11/25/03 3/25/04 3/25/03
Last Principal Payment Date 10/25/28 6/25/15 2/25/12 4/25/09 7/25/07 4/25/06 5/25/05
Payment Windows (mos.) 43 129 104 68 45 26 27
MV-2 (To Call)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Average Life (yrs.) 27.39 8.77 6.10 4.73 4.09 3.86 3.52
Modified Duration (yrs.) 11.07 5.95 4.57 3.76 3.36 3.22 2.98
First Principal Payment Date 4/25/25 10/25/04 7/25/03 8/25/03 9/25/03 10/25/03 7/25/03
Last Principal Payment Date 10/25/28 6/25/15 2/25/12 4/25/09 7/25/07 4/25/06 5/25/05
Payment Windows (mos.) 43 129 104 69 47 31 23
BV-1 (To Call)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
FRM PPC, ARM PPC 0% 50% 75% 100% 125% 150% 175%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Average Life (yrs.) 27.39 8.76 6.00 4.63 3.95 3.63 3.25
Modified Duration (yrs.) 9.93 5.64 4.35 3.58 3.18 2.97 2.71
First Principal Payment Date 4/25/25 10/25/04 7/25/03 7/25/03 8/25/03 9/25/03 6/25/03
Last Principal Payment Date 10/25/28 6/25/15 8/25/11 9/25/08 11/25/06 8/25/05 10/25/04
Payment Windows (mos.) 43 129 98 63 40 24 17
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Saxon Asset Securities Trust
Mortgage Pass-Through Certificates, Series 2000-2
$740,000,000 (approximate)
Group II Available Funds Cap
<TABLE>
<CAPTION>
--------------------------------------------- ---------------------------------------------
Period Pay Date Available Available Period Pay Date Available Available
Funds Cap Funds Cap* Funds Cap Funds Cap*
--------------------------------------------- ---------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
1 7/25/00 N/A N/A 37 7/25/03 12.73 13.77
2 8/25/00 8.78 8.78 38 8/25/03 12.22 13.22
3 9/25/00 8.79 8.79 39 9/25/03 12.22 13.22
4 10/25/00 9.19 9.19 40 10/25/03 12.62 13.66
5 11/25/00 8.90 8.90 41 11/25/03 12.23 13.25
6 12/25/00 9.21 9.21 42 12/25/03 12.79 14.32
7 1/25/01 8.98 8.98 43 1/25/04 12.66 14.29
8 2/25/01 8.99 8.99 44 2/25/04 12.66 14.29
9 3/25/01 9.97 9.97 45 3/25/04 13.54 15.27
10 4/25/01 9.05 9.05 46 4/25/04 12.66 14.29
11 5/25/01 9.35 9.35 47 5/25/04 13.09 14.79
12 6/25/01 9.04 9.04 48 6/25/04 12.67 14.58
13 7/25/01 9.38 9.38 49 7/25/04 13.10 15.46
14 8/25/01 9.07 9.07 50 8/25/04 12.67 14.96
15 9/25/01 9.06 9.06 51 9/25/04 12.67 14.97
16 10/25/01 9.39 9.39 52 10/25/04 13.10 15.46
17 11/25/01 9.08 9.09 53 11/25/04 12.67 14.98
18 12/25/01 9.37 9.38 54 12/25/04 13.10 15.68
19 1/25/02 9.10 9.10 55 1/25/05 12.67 15.54
20 2/25/02 9.08 9.09 56 2/25/05 12.67 15.54
21 3/25/02 10.04 10.04 57 3/25/05 14.03 17.21
22 4/25/02 9.05 9.05 58 4/25/05 12.67 15.54
23 5/25/02 9.36 9.36 59 5/25/05 13.11 16.08
24 6/25/02 10.10 10.11 60 6/25/05 12.70 15.78
25 7/25/02 10.58 10.60 61 7/25/05 13.14 16.70
26 8/25/02 10.22 10.23 62 8/25/05 12.73 16.18
27 9/25/02 10.20 10.21 63 9/25/05 12.74 16.20
28 10/25/02 10.52 10.53 64 10/25/05 13.18 16.76
29 11/25/02 10.17 10.19 65 11/25/05 12.78 16.24
30 12/25/02 10.61 10.99 66 12/25/05 13.22 16.87
31 1/25/03 11.25 11.68 67 1/25/06 12.81 16.43
32 2/25/03 11.26 11.70 68 2/25/06 12.83 16.46
33 3/25/03 12.49 12.97 69 3/25/06 14.23 18.25
34 4/25/03 11.29 11.73 70 4/25/06 12.87 16.51
35 5/25/03 11.70 12.18 71 5/25/06 13.32 17.09
36 6/25/03 11.76 12.69 72 6/25/06 12.92 16.56
--------------------------------------------- ---------------------------------------------
</TABLE>
--------------------------------------------
Period Pay Date Available Available
Funds Cap Funds Cap*
--------------------------------------------
73 7/25/06 13.37 17.16
74 8/25/06 12.96 16.64
75 9/25/06 12.99 16.67
76 10/25/06 13.45 17.26
77 11/25/06 13.04 16.74
78 12/25/06 13.51 17.33
79 1/25/07 13.10 16.81
80 2/25/07 13.13 16.85
81 3/25/07 14.57 18.70
82 4/25/07 13.20 16.93
83 5/25/07 13.67 17.54
84 6/25/07 13.27 17.02
85 7/25/07 13.75 17.64
86 8/25/07 13.34 17.12
87 9/25/07 13.39 17.17
88 10/25/07 13.88 17.80
89 11/25/07 13.47 17.29
90 12/25/07 13.97 17.92
91 1/25/08 13.57 17.41
92 2/25/08 13.62 17.47
93 3/25/08 14.62 18.75
94 4/25/08 13.73 17.61
95 5/25/08 14.25 18.27
96 6/25/08 13.85 17.76
97 7/25/08 14.38 18.44
98 8/25/08 13.98 17.93
99 9/25/08 14.05 18.02
100 10/25/08 14.60 18.71
101 11/25/08 14.21 18.21
102 12/25/08 14.76 18.92
103 1/25/09 14.37 18.42
104 2/25/09 14.46 18.53
105 3/25/09 16.12 20.64
106 4/25/09 14.66 18.77
--------------------------------------------
* Assumes the 6 month LIBOR and 1Y CMT instantaneously increase to a level
beyond the highest maximum obtainable rate on the adjustable rate mortgage loans
and run at the pricing speed to call.
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and their affiliates, officers, directors, partners
and employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
SAXON 2000-2
<TABLE>
<CAPTION>
Total Roll Int Rate GrossMargin MaxRate MinRate FirstPeriodCap PerCap OrigAmTerm OrigTerm Age INDEX
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
139,477.95 3 8.2731 5.4 14.25 8.25 1 1 360 360 3 6ML
607,354.22 6 9.452 4.8824 15.4289 8.3835 1 1 360 360 0 6ML
307,576.28 4 9.9436 6.9149 15.9205 9.9205 1 1 360 360 2 6ML
129,406.63 6 9.6481 6.5 16.625 9.625 1 1 360 360 0 6ML
238,066.43 12 10.0131 6.5 16.99 9.99 1.5 1.5 360 360 12 6ML
301,308.17 12 10.2731 7.375 17.25 10.25 2 2 360 360 0 TSY1Y
96,805.84 12 10.9731 7.5 17.95 10.95 2 2 360 360 0 TSY1Y
863,032.21 18 10.9195 6.3946 17.205 10.8964 1.9287 1.0713 360 360 6 6ML
578,414.89 16 11.0566 6 17.3013 11.0335 3 1 360 360 8 6ML
59,053.18 16 9.7731 6.5 16.75 9.75 1.5 1.5 360 360 8 6ML
276,736.37 18 10.0131 6.25 16.99 9.99 1.5 1.5 360 360 6 6ML
101,004.99 17 8.7731 6.75 14.75 8.75 3 1 360 360 7 6ML
22,468,931.62 23 10.4569 6.4156 16.725 10.396 2.674 1.1333 360 360 1 6ML
4,453,290.09 24 10.2781 6.3337 16.7884 10.255 2.5632 1.1143 360 360 0 6ML
2,167,331.22 23 10.0464 5.972 16.6567 10.0233 2.2405 1.3808 360 360 1 6ML
125,847.59 24 10.2631 5.5 16.24 10.24 3 1 360 360 0 6ML
47,665,015.99 23 10.1063 6.1494 16.367 9.771 2.9399 1.2136 360 360 1 6ML
6,420,196.34 24 10.1371 6.03 16.3837 10.114 2.926 1.1473 360 360 0 6ML
16,315,608.71 23 10.1833 6.3155 16.7209 9.5395 2.6764 1.2537 360 360 1 6ML
3,300,968.85 22 10.5244 6.4521 17.2219 10.5013 1.8889 1.3301 360 360 2 6ML
149,479.60 24 13.0231 7.5 20 13 1 1 360 360 0 6ML
9,948,899.65 23 10.7977 6.5232 17.5906 10.7231 2.3461 1.1817 360 360 1 6ML
2,926,667.44 24 10.5184 6.2533 17.1203 10.4953 2.5212 1.0146 360 360 0 6ML
116,753.12 30 9.5731 6.75 16.55 9.55 1.5 1.5 360 360 6 6ML
605,242.52 28 10.3834 7.0513 17.1963 10.3603 2.0127 1.746 360 360 8 6ML
260,165.69 29 10.5231 7 16.5 10.5 3 1 360 360 7 6ML
16,546,283.70 35 10.4863 6.1087 16.9234 10.2411 2.1087 1.0343 360 360 1 6ML
1,562,482.45 35 10.6645 6.2551 17.1711 10.5864 1.8332 1.0408 360 360 1 6ML
2,470,191.14 34 10.181 6.1635 16.7317 10.1579 2.0203 1.1678 360 360 2 6ML
824,913.87 35 9.7713 6.6125 16.3098 9.7482 1.9301 1.0535 360 360 1 6ML
1,871,433.39 36 10.9106 6.6617 17.7666 10.8875 1.4813 1.0325 360 360 0 6ML
94,172.15 36 10.6481 6.375 17.625 10.625 1 1 360 360 0 6ML
58,510,137.19 36 10.5963 6.2272 17.289 10.5168 1.8038 1.1833 360 360 0 6ML
10,742,020.77 36 10.5712 6.3309 17.406 10.5481 1.6123 1.1916 360 360 0 6ML
721,986.49 36 9.8256 5.5982 16.8025 9.8025 1 1 360 360 0 6ML
31,601,976.26 35 10.7249 6.5985 17.1405 10.7018 2.0892 1.0016 360 360 1 6ML
4,451,565.00 36 10.7001 6.216 17.5746 10.6309 1.3796 0.9889 360 360 0 6ML
250,019,798.00 10.4455
740,000,000.00
</TABLE>
<TABLE>
<CAPTION>
PP_TERM MI SERVICING
<S> <C> <C> <C>
1 0.37 0.55
0 0.00 0.55
3 0.00 0.55
5 0.00 0.55
3 0.00 0.55
0 0.37 0.55
5 0.00 0.55
0 0.00 0.55
2 0.00 0.55
3 0.00 0.55
3 0.37 0.55
5 0.00 0.55
0 0.00 0.55
0 0.37 0.55
1 0.00 0.55
1 0.37 0.55
2 0.00 0.55
2 0.37 0.55
3 0.00 0.55
3 0.37 0.55
4 0.00 0.55
5 0.00 0.55
5 0.37 0.55
2 0.00 0.55
3 0.00 0.55
5 0.00 0.55
0 0.00 0.55
0 0.37 0.55
1 0.00 0.55
1 0.37 0.55
2 0.00 0.55
2 0.37 0.55
3 0.00 0.55
3 0.37 0.55
4 0.00 0.55
5 0.00 0.55
5 0.37 0.55
</TABLE>
<TABLE>
<CAPTION>
Total Int Rate OrigAmTerm OrigTerm WAge SERVICING PP_TERM MI
<S> <C> <C> <C> <C> <C> <C> <C>
231,278.10 10.37 60 60 1 0.55 0 0
97,620.15 11.122 60 60 0 0.8 0 0
41,558,045.70 10.96 360 360 1 0.55 0 0
5,094,280.01 11.121 360 360 1 0.55 0 0.37
47,197,101.12 10.719 360 180 1 0.55 0 0
8,625,653.20 10.908 360 180 1 0.55 0 0.37
3,347,962.36 11.018 360 360 1 0.55 1 0
229,913.87 11.44 360 360 0 0.55 1 0.37
1,244,494.12 10.889 360 180 1 0.55 1 0
1,120,963.22 10.906 360 360 0 0.55 2 0
407,024.05 10.308 360 360 0 0.55 2 0.37
3,868,342.68 10.941 360 180 0 0.55 2 0
258,955.62 11.69 360 180 0 0.55 2 0.37
15,089,604.01 10.696 360 360 1 0.55 3 0
3,198,723.12 10.159 360 360 1 0.55 3 0.37
35,903,122.97 10.778 360 180 0 0.55 3 0
6,049,835.03 10.974 360 180 1 0.55 3 0.37
256,250.75 11.323 360 360 1 0.55 4 0
347,504.49 12.478 360 180 0 0.55 4 0
65,464,117.51 10.198 360 360 1 0.55 5 0
9,814,574.27 10.652 360 360 0 0.55 5 0.37
151,380,776.66 10.531 360 180 0 0.55 5 0
29,213,048.93 10.603 360 180 0 0.55 5 0.37
4,589,317.51 11.322 360 180 0 0.8 0 0
613,217.96 11.473 360 180 2 0.8 3 0
1,613,675.28 11.339 360 180 1 0.8 5 0
212,830.48 11.552 300 300 0 0.55 0 0
275,956.43 10.196 300 300 0 0.55 5 0
3,437,289.62 10.732 240 240 1 0.55 0 0
628,651.78 10.931 240 240 2 0.55 0 0.37
291,112.61 11.145 240 240 0 0.55 3 0
1,582,781.25 10.359 240 240 0 0.55 5 0
838,151.31 10.543 240 240 1 0.55 5 0.37
1,797,766.46 11.551 240 240 1 0.8 0 0
70,931.50 11.055 240 240 4 0.8 3 0
15,138,957.46 10.421 179 179 0 0.55 0 0
909,055.91 11.107 178 178 1 0.55 0 0.37
163,364.02 11.315 180 180 0 0.55 1 0
342,482.17 10.833 180 180 0 0.55 2 0
2,064,833.86 10.588 179 179 0 0.55 3 0
14,560,356.22 9.7815 179 179 0 0.55 5 0
1,738,705.49 9.9952 180 180 0 0.55 5 0.37
6,100,934.15 10.895 180 180 0 0.8 0 0
71,180.76 14.815 180 180 0 0.8 1 0
282,845.38 11.684 180 180 1 0.8 3 0
251,850.28 12.099 180 180 1 0.8 5 0
763,067.57 11.011 120 120 0 0.55 0 0
35,590.38 11.064 120 120 0 0.55 0 0.37
70,255.41 13.065 120 120 0 0.55 3 0
993,256.37 10.041 120 120 0 0.55 5 0
507,002.06 10.718 120 120 0 0.8 0 0
35,590.38 11.665 120 120 0 0.8 3 0
489,980,202.00
</TABLE>
Banc of America Securities, LLC
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter consider reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Banc of America Securities LLC
Trader Summary Report
---------------------
<TABLE>
<S> <C> <C> <C> <C>
Pool ID: Saxon 2000-2 II
Tape Date: May 01, 2000 CUTOFF: Jun 01, 2000 5/30/00
Deal Title: Saxon 2000-2
SAXON 2000-2 FIXED greater than 400K 12:21PM
</TABLE>
<TABLE>
<CAPTION>
General Characteristics
<S> <C> <C> <C> <C> <C>
Pool Size: $ 11,293,256 W.A. Gross Coupon: 10.187% Pool - Balloon %: 73.80%
Loan Count: 25 W.A. Net Coupon: 9.687% Pool - ARMS% 0.00%
Average Loan Balance: $ 451,730 W.A. Servicing: 0.500% W.A. Gr. Margin (ARMS) 0.000%
W.A. FICO: 601 W.A. OTerm (months) 227.2 W.A. Rollterm (ARMS) 0.0
W.A. Original LTV: 76.68% W.A. RTerm (months) 224.7 W.A. Initial Cap (ARMS) 0.000%
W.A. CLTV: 76.54% W.A. Age (months) 2.4 W.A. Interim Cap (ARMS) 0.000%
FNMA Conforming % 0.00% Modified %: W.A.Life Cap (ARMS): 0.000%
Pct of Pool with NegAm Loans with PMI %: W.A. Ceiling (ARMS) 0.000%
</TABLE>
Balance Distribution Coupon Distribution
400K - 500K 95.45% 7.5 - 8.0 4.42%
500K - 600K 4.55% 8.0 - 8.5 8.77%
-------------------------------------
Avg: $451,730 Min: $400,154 8.5 - 9.0 4.32%
SD: $35,344 Max: $514,254 9.0 - 9.5 8.42%
9.5 - 10.0 19.34%
10.0 - 10.5 18.90%
10.5 - 11 15.63%
greater than 11.0 20.18%
-------------------------------------
WA: 10.187% Min: 8.000%
SD 1.149% Max: 12.625%
OLTV Distribution CurrLTV Distribution
less than less than
or equal to 50 4.42% or equal to 50 4.42%
55 - 60 8.05% 55 - 60 8.05%
65 - 70 16.48% 65 - 70 16.48%
70 - 75 17.09% 70 - 75 17.09%
75 - 80 15.94% 75 - 80 15.94%
80 - 85 15.36% 80 - 85 15.36%
85 - 90 22.65% 85 - 90 22.65%
------------------------------ ---------------------------------
WA: 76.68% Min: 50.00% WA: 76.54% Min: 50%
SD: 11.11% Max: 90.00% SD: 11.15% Max: 89.97%
Documentation Product
FULL 55.20% 15/30 BALLOON 73.80%
LIMITED 29.04% 30 Y FIXED 26.20%
STATED 12.13%
NO RATIO 3.63%
Delinquency (Days) Margin
0 - 29 Days 100.00%
WA: Min:
SD: Max:
Property Type Geographical (State)
SF Detached 83.90% CA 29.10%
PUD 12.46% NJ 12.70%
High Rise Condo 3.64% FL 11.55%
IL 7.76%
CT 7.74%
Other States 31.15%
Geographical (Zip Code) Months To Roll
94065 4.55%
8742 4.43% WA: Min:
95037 4.42% SD: Max:
59846 4.42%
72223 4.36%
Other ZIP Codes 77.82%
Purpose Occupancy
C/O REFI 43.76% Primary 96.37%
PURCH 35.62% Second 3.63%
R/T REFI 20.62%
Lien Position Interim Cap
1 100.00%
WA: Min:
SD: Max:
Credit Score Credit Grade
651 - 999 20.24% A- 35.53%
596 - 650 28.40% A+ 24.35%
550 - 595 24.32% A 23.22%
100 - 549 22.77% B 16.90%
N/A 4.28%
-------------------------------------
WA: 601 Min: 511
SD: 62 Max: 729
Prepayment Penalty Term Life Cap
0 Years 31.66% ---------------------------
1 Year 3.54% WA: Min:
3 Years 28.52% SD: Max:
5 Years 36.27%
---------------------------------
WA: 2.7 Min: 0.0
SD: 2.1 Max: 5.0
Loan Type Pool
100.00% Saxon 2000-2 II 100.00%
PMI Providers PMI Missing
None 100.00% Not Required 88.91%
Required, Not Present 11.09%
All Weighted Averages omit Zero
values, where appropriate.
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on nformation
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of
<PAGE>
<TABLE>
<S> <C>
Banc of America Securities LLC Scenario Table
------------------------------------------------------------------------------------------------------------------------------------
Saxon 2000-2 TermSheet
</TABLE>
Bond Class: A-IO
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------
Settle Date Call % Run Description First Accrual Next Pay Actual Delay Issue Balance
To Date Date
-------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
06/14/2000 10.0 Call comp IO 06/01/2000 07/25/2000 24 118,000,000
-------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Balance Principal Coupon Interest Index Type Margin Accrued
Type Type Interest
----------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
118,000,000 Notional 6.00000 Fixed None 0.00 255,666.67
----------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
10 CPR 20 CPR 30 CPR 40 CPR 50 CPR 60 CPR 62 CPR 65 CPR 66 CPR
--------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
-------------------------------------------------------------------------------------------------------------
8.65000 13.672 13.672 13.672 13.672 13.672 13.672 11.650 7.168 4.512
-------------------------------------------------------------------------------------------------------------
8.70000 13.125 13.125 13.125 13.125 13.125 13.125 11.098 6.606 3.945
-------------------------------------------------------------------------------------------------------------
8.75000 12.585 12.585 12.585 12.585 12.585 12.585 10.552 6.050 3.384
-------------------------------------------------------------------------------------------------------------
8.80000 12.050 12.050 12.050 12.050 12.050 12.050 10.012 5.500 2.829
-------------------------------------------------------------------------------------------------------------
8.85000 11.520 11.520 11.520 11.520 11.520 11.520 9.477 4.956 2.279
-------------------------------------------------------------------------------------------------------------
8.90000 10.996 10.996 10.996 10.996 10.996 10.996 8.948 4.417 1.735
-------------------------------------------------------------------------------------------------------------
8.95000 10.477 10.477 10.477 10.477 10.477 10.477 8.424 3.883 1.197
-------------------------------------------------------------------------------------------------------------
9.00000 9.963 9.963 9.963 9.963 9.963 9.963 7.906 3.355 0.664
-------------------------------------------------------------------------------------------------------------
9.05000 9.455 9.455 9.455 9.455 9.455 9.455 7.393 2.833 0.136
-------------------------------------------------------------------------------------------------------------
9.10000 8.951 8.951 8.951 8.951 8.951 8.951 6.885 2.315 -0.386
-------------------------------------------------------------------------------------------------------------
9.17052 8.250 8.250 8.250 8.250 8.250 8.250 6.117 1.594 -1.114
-------------------------------------------------------------------------------------------------------------
9.20000 7.960 7.960 7.960 7.960 7.960 7.960 5.883 1.295 -1.415
-------------------------------------------------------------------------------------------------------------
9.25000 7.471 7.471 7.471 7.471 7.471 7.471 5.390 0.793 -1.922
-------------------------------------------------------------------------------------------------------------
9.30000 6.987 6.987 6.987 6.987 6.987 6.987 4.902 0.296 -2.425
-------------------------------------------------------------------------------------------------------------
9.35000 6.508 6.508 6.508 6.508 6.508 6.508 4.418 -0.197 -2.922
-------------------------------------------------------------------------------------------------------------
9.40000 6.033 6.033 6.033 6.033 6.033 6.033 3.939 -0.685 -3.414
-------------------------------------------------------------------------------------------------------------
9.45000 5.563 5.563 5.563 5.563 5.563 5.563 3.464 -1.168 -3.902
-------------------------------------------------------------------------------------------------------------
9.50000 5.097 5.097 5.097 5.097 5.097 5.097 2.994 -1.647 -4.385
-------------------------------------------------------------------------------------------------------------
9.55000 4.636 4.636 4.636 4.636 4.636 4.636 2.529 -2.121 -4.864
-------------------------------------------------------------------------------------------------------------
9.60000 4.179 4.179 4.179 4.179 4.179 4.179 2.067 -2.591 -5.338
-------------------------------------------------------------------------------------------------------------
9.65000 3.727 3.727 3.727 3.727 3.727 3.727 1.610 -3.057 -5.808
-------------------------------------------------------------------------------------------------------------
WAL (Yrs) 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.66 1.62
-------------------------------------------------------------------------------------------------------------
Mod Dur 1.08 1.08 1.08 1.08 1.08 1.08 1.07 1.05 1.04
-------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Banc of America Securities LLC Scenario Table
================================================================================
Saxon 2000-2 TermSheet
<TABLE>
<CAPTION>
Bond Class: A-IO
--------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Settle Date Call % Run Description First Accrual Next Pay Actual Delay Issue Balance
To Date Date
--------------------------------------------------------------------------------------------------------------
06/14/2000 10.0 Call comp IO 06/01/2000 07/25/2000 24 118,000,000
--------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------
Balance Principal Coupon Interest Index Margin Accrued
Type Type Type Interest
------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
118,000,000 Notional 6.00000 Fixed None 0.00 255,666.67
------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
0 CPR 10 CPR 20 CPR 30 CPR
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
8.56250 14.642 14.642 14.642 14.642
-----------------------------------------------------------------------------------------------------------------------------------
8.62500 13.947 13.947 13.947 13.947
-----------------------------------------------------------------------------------------------------------------------------------
8.68750 13.261 13.261 13.261 13.261
-----------------------------------------------------------------------------------------------------------------------------------
8.75000 12.585 12.585 12.585 12.585
-----------------------------------------------------------------------------------------------------------------------------------
8.81250 11.917 11.917 11.917 11.917
-----------------------------------------------------------------------------------------------------------------------------------
8.87500 11.257 11.257 11.257 11.257
-----------------------------------------------------------------------------------------------------------------------------------
8.93750 10.606 10.606 10.606 10.606
-----------------------------------------------------------------------------------------------------------------------------------
9.00000 9.963 9.963 9.963 9.963
-----------------------------------------------------------------------------------------------------------------------------------
9.06250 9.329 9.329 9.329 9.329
-----------------------------------------------------------------------------------------------------------------------------------
9.12500 8.702 8.702 8.702 8.702
-----------------------------------------------------------------------------------------------------------------------------------
9.16435 8.311 8.311 8.311 8.311
-----------------------------------------------------------------------------------------------------------------------------------
9.25000 7.471 7.471 7.471 7.471
-----------------------------------------------------------------------------------------------------------------------------------
9.31250 6.867 6.867 6.867 6.867
-----------------------------------------------------------------------------------------------------------------------------------
9.37500 6.270 6.270 6.270 6.270
-----------------------------------------------------------------------------------------------------------------------------------
9.43750 5.680 5.680 5.680 5.680
-----------------------------------------------------------------------------------------------------------------------------------
9.50000 5.097 5.097 5.097 5.097
-----------------------------------------------------------------------------------------------------------------------------------
9.56250 4.522 4.522 4.522 4.522
-----------------------------------------------------------------------------------------------------------------------------------
9.62500 3.952 3.952 3.952 3.952
-----------------------------------------------------------------------------------------------------------------------------------
9.68750 3.390 3.390 3.390 3.390
-----------------------------------------------------------------------------------------------------------------------------------
9.75000 2.834 2.834 2.834 2.834
-----------------------------------------------------------------------------------------------------------------------------------
9.81250 2.284 2.284 2.284 2.284
-----------------------------------------------------------------------------------------------------------------------------------
WAL (Yrs) 1.75 1.75 1.75 1.75
-----------------------------------------------------------------------------------------------------------------------------------
Mod Dur 1.08 1.08 1.08 1.08
-----------------------------------------------------------------------------------------------------------------------------------
FirstPrinPay 09/25/2000 09/25/2000 09/25/2000 09/25/2000
-----------------------------------------------------------------------------------------------------------------------------------
Maturity 12/25/2002 12/25/2002 12/25/2002 12/25/2002
-----------------------------------------------------------------------------------------------------------------------------------
Prin Window (Months) 28 28 28 28
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
40 CPR 50 CPR 60 CPR 62 CPR
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
8.56250 14.642 14.642 14.642 12.629
-----------------------------------------------------------------------------------------------------------------------------------
8.62500 13.947 13.947 13.947 11.928
-----------------------------------------------------------------------------------------------------------------------------------
8.68750 13.261 13.261 13.261 11.235
-----------------------------------------------------------------------------------------------------------------------------------
8.75000 12.585 12.585 12.585 10.552
-----------------------------------------------------------------------------------------------------------------------------------
8.81250 11.917 11.917 11.917 9.878
-----------------------------------------------------------------------------------------------------------------------------------
8.87500 11.257 11.257 11.257 9.212
-----------------------------------------------------------------------------------------------------------------------------------
8.93750 10.606 10.606 10.606 8.555
-----------------------------------------------------------------------------------------------------------------------------------
9.00000 9.963 9.963 9.963 7.906
-----------------------------------------------------------------------------------------------------------------------------------
9.06250 9.329 9.329 9.329 7.265
-----------------------------------------------------------------------------------------------------------------------------------
9.12500 8.702 8.702 8.702 6.632
-----------------------------------------------------------------------------------------------------------------------------------
9.16435 8.311 8.311 8.311 6.238
-----------------------------------------------------------------------------------------------------------------------------------
9.25000 7.471 7.471 7.471 5.390
-----------------------------------------------------------------------------------------------------------------------------------
9.31250 6.867 6.867 6.867 4.780
-----------------------------------------------------------------------------------------------------------------------------------
9.37500 6.270 6.270 6.270 4.178
-----------------------------------------------------------------------------------------------------------------------------------
9.43750 5.680 5.680 5.680 3.582
-----------------------------------------------------------------------------------------------------------------------------------
9.50000 5.097 5.097 5.097 2.994
-----------------------------------------------------------------------------------------------------------------------------------
9.56250 4.522 4.522 4.522 2.413
-----------------------------------------------------------------------------------------------------------------------------------
9.62500 3.952 3.952 3.952 1.838
-----------------------------------------------------------------------------------------------------------------------------------
9.68750 3.390 3.390 3.390 1.270
-----------------------------------------------------------------------------------------------------------------------------------
9.75000 2.834 2.834 2.834 0.709
-----------------------------------------------------------------------------------------------------------------------------------
9.81250 2.284 2.284 2.284 0.154
-----------------------------------------------------------------------------------------------------------------------------------
WAL (Yrs) 1.75 1.75 1.75 1.75
-----------------------------------------------------------------------------------------------------------------------------------
Mod Dur 1.08 1.08 1.08 1.07
-----------------------------------------------------------------------------------------------------------------------------------
FirstPrinPay 09/25/2000 09/25/2000 09/25/2000 09/25/2000
-----------------------------------------------------------------------------------------------------------------------------------
Maturity 12/25/2002 12/25/2002 12/25/2002 12/25/2002
-----------------------------------------------------------------------------------------------------------------------------------
Prin Window (Months) 28 28 28 28
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Banc of America Securities LLC Scenario Table
================================================================================
Saxon 2002-2 TermSheet
<TABLE>
<CAPTION>
Bond Class: BF-1
<S> <C> <C> <C> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------------
Settle Date Call % Run To Description First Accrual Next Pay Actual Delay Issue Balance
Date Date
-----------------------------------------------------------------------------------------------------------------
06/14/2000 10.0 Call Sub 06/01/2000 07/25/2000 24 12,005,000
-----------------------------------------------------------------------------------------------------------------
<CAPTION>
Balance Principal Coupon Interest Index Type Margin Accrued Loss Lag Trigger
Type Type Interest Sev.
-----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------
12,005,000 Normal 8.70000 Fixed None 0.00 37,715.71 70.0% 12 No
-----------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
30 CPR 35 CPR
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
93.00000 -37.137 -33.761
----------------------------------------------------------------------------------------------------------------------------------
93.10000 -37.170 -33.794
----------------------------------------------------------------------------------------------------------------------------------
93.20000 -37.203 -33.826
----------------------------------------------------------------------------------------------------------------------------------
93.30000 -37.235 -33.858
----------------------------------------------------------------------------------------------------------------------------------
93.40000 -37.268 -33.890
----------------------------------------------------------------------------------------------------------------------------------
93.50000 -37.300 -33.923
----------------------------------------------------------------------------------------------------------------------------------
93.60000 -37.332 -33.955
----------------------------------------------------------------------------------------------------------------------------------
93.70000 -37.365 -33.987
----------------------------------------------------------------------------------------------------------------------------------
93.80000 -37.397 -34.019
----------------------------------------------------------------------------------------------------------------------------------
93.90000 -37.429 -34.051
----------------------------------------------------------------------------------------------------------------------------------
93.99617 -37.460 -34.082
----------------------------------------------------------------------------------------------------------------------------------
94.10000 -37.493 -34.115
----------------------------------------------------------------------------------------------------------------------------------
94.20000 -37.525 -34.147
----------------------------------------------------------------------------------------------------------------------------------
94.30000 -37.557 -34.179
----------------------------------------------------------------------------------------------------------------------------------
94.40000 -37.589 -34.210
----------------------------------------------------------------------------------------------------------------------------------
94.50000 -37.621 -34.242
----------------------------------------------------------------------------------------------------------------------------------
94.60000 -37.653 -34.274
----------------------------------------------------------------------------------------------------------------------------------
94.70000 -37.685 -34.305
----------------------------------------------------------------------------------------------------------------------------------
94.80000 -37.717 -34.337
----------------------------------------------------------------------------------------------------------------------------------
94.90000 -37.748 -34.369
----------------------------------------------------------------------------------------------------------------------------------
95.00000 -37.780 -34.400
----------------------------------------------------------------------------------------------------------------------------------
WAL (Yrs) 4.04 4.16
----------------------------------------------------------------------------------------------------------------------------------
Mod Dur 3.30 3.32
----------------------------------------------------------------------------------------------------------------------------------
FirstPrinPay 07/25/2003
----------------------------------------------------------------------------------------------------------------------------------
Maturity 03/25/2005 03/25/2005
----------------------------------------------------------------------------------------------------------------------------------
Prin Window (Months) 0 21
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
* The default vector builds from 0 CDR in period 1 to 10 CDR in period 36 and
stays at 10 CDR until period 48; beginning in period 49, the CDR linearly
decreases until it hits 1 CDR in period 120. It stays at 1 CDR therafter.
<PAGE>
Banc of America Securities LLC
Saxon 2000-2
<TABLE>
<CAPTION>
Period Maximum Rate Group 1 AFC
<S> <C> <C>
1 8.93 N/A
2 8.93 8.64
3 8.93 8.64
4 8.99 8.99
5 8.98 8.70
6 8.97 8.97
7 9.15 8.86
8 9.14 8.85
9 9.13 9.78
10 9.18 8.88
11 9.17 9.17
12 9.15 8.85
13 9.19 9.19
14 9.17 8.88
15 9.16 8.86
16 9.19 9.19
17 9.17 8.88
18 9.16 9.16
19 9.19 8.89
20 9.17 8.88
21 9.16 9.81
22 9.23 8.93
23 9.21 9.21
24 9.20 8.90
25 9.22 9.22
26 9.20 8.90
27 9.19 8.89
28 9.25 9.25
29 9.23 8.93
30 9.22 9.22
31 9.99 9.67
32 9.99 9.67
33 9.99 10.70
34 9.99 9.67
35 9.99 9.99
36 9.99 9.67
37 9.99 9.99
38 9.99 9.67
39 9.99 9.67
40 9.99 9.99
41 9.99 9.67
42 9.99 9.99
43 9.99 9.67
44 9.99 9.67
45 9.99 10.33
46 9.99 9.67
47 9.99 9.99
48 9.99 9.67
49 9.99 9.99
50 9.99 9.67
51 9.99 9.67
52 9.99 9.99
53 9.99 9.67
54 9.99 9.99
55 9.99 9.67
56 9.99 9.67
57 9.99 10.70
58 9.99 9.67
59 9.99 9.99
60 9.99 9.67
61 9.99 9.99
62 9.99 9.67
63 9.99 9.67
64 9.99 9.99
65 9.99 9.67
66 9.99 9.99
67 9.99 9.67
68 9.99 9.67
69 9.99 10.71
70 9.99 9.67
71 9.99 9.99
72 9.99 9.67
73 9.99 9.99
74 9.99 9.67
75 9.99 9.67
76 9.99 9.99
77 9.99 9.67
78 9.99 9.99
79 9.99 9.67
80 9.99 9.67
81 9.99 10.71
82 9.99 9.67
83 9.99 9.99
84 9.99 9.67
85 9.99 9.99
86 9.99 9.67
87 9.99 9.67
88 9.99 9.99
89 9.99 9.67
90 9.99 9.99
91 9.99 9.67
92 9.99 9.67
93 9.99 10.34
94 9.99 9.67
95 9.99 9.99
96 10.00 9.67
97 10.00 10.00
98 10.00 9.67
99 10.00 9.67
100 10.00 10.00
101 10.00 9.67
102 10.00 10.00
103 10.00 9.67
104 10.00 9.67
105 10.00 10.71
106 10.00 9.67
</TABLE>
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter consider reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Banc Of America Securities, LLC
Saxon 2000-2
<TABLE>
<CAPTION>
FIXED RATE LOANS ARM LOANS
MI coverage for Loans with Current LTV greater than 80% MI coverage for Loans with Current LTV greater than 80%
Fixed Rate ARM Rate
---------------------------------------------------------- --------------------------------------------------------
CURRENT BALANCE MI % MI CURRENT BALANCE MI % MI
---------------------------------------------------------- --------------------------------------------------------
<S> <C> <C> <C> <C> <C>
75,759,381.75 N 56.43% 37,840,797.50 N 59.20%
58,504,636.72 Y 43.57% 26,079,109.34 Y 40.80%
---------------------------------------------------------- --------------------------------------------------------
134,264,018.47 100.00% 63,919,906.84 100.00%
---------------------------------------------------------- --------------------------------------------------------
<CAPTION>
FICO Score - Fixed FICO Score - ARM
---------------------------------------------------------- --------------------------------------------------------
CURRENT BALANCE FICO SCORE % CURRENT BALANCE FICO SCORE %
---------------------------------------------------------- --------------------------------------------------------
<S> <C> <C> <C> <C> <C>
11,885,579.80 Unknown 3.17% 5,779,003.14 Unknown 3.05%
505,102.73 less than 450 0.13% 1,023,198.25 less than 450 0.54%
15,920,746.23 450-499 4.25% 11,468,645.94 450-499 6.06%
81,575,882.46 500-549 21.76% 54,775,994.88 500-549 28.95%
109,699,118.47 550-599 29.26% 64,161,272.54 550-599 33.91%
97,703,092.73 600-649 26.06% 34,331,140.69 600-649 18.14%
39,396,072.08 650-699 10.51% 14,008,310.82 650-699 7.40%
12,781,991.16 700-749 3.41% 3,389,730.29 700-749 1.79%
5,050,322.57 750-799 1.35% 47,147.07 750-799 0.02%
339,453.98 greater than 243,464.15 greater than
or equal to 800 0.09% or equal to 800 0.13%
---------------------------------------------------------- --------------------------------------------------------
374,857,362.21 100.00% 189,227,907.77 100.00%
---------------------------------------------------------- --------------------------------------------------------
<CAPTION>
DTI - Fixed DTI - ARM
---------------------------------------------------------- --------------------------------------------------------
CURRENT BALANCE DTI % CURRENT BALANCE DTI %
---------------------------------------------------------- --------------------------------------------------------
<S> <C> <C> <C> <C> <C>
5,597,351.76 0 - 4.99 1.49% 219,635.56 0 - 4.99 0.12%
1,106,749.64 5.00 - 9.99 0.30% 113,121.29 5.00 - 9.99 0.06%
4,258,465.36 10.00 - 14.99 1.14% 1,225,936.90 10.00 - 14.99 0.65%
9,954,592.96 15.00 - 19.99 2.66% 1,942,450.28 15.00 - 19.99 1.03%
19,992,040.61 20.00 - 24.99 5.33% 6,789,490.36 20.00 - 24.99 3.59%
32,430,164.06 25.00 - 29.99 8.65% 11,565,074.45 25.00 - 29.99 6.11%
46,349,559.77 30.00 - 34.99 12.36% 19,054,414.43 30.00 - 34.99 10.07%
61,652,482.24 35.00 - 39.99 16.45% 29,670,742.60 35.00 - 39.99 15.68%
74,199,039.30 40.00 - 44.99 19.79% 36,935,754.65 40.00 - 44.99 19.52%
68,901,336.47 45.00 - 49.99 18.38% 43,654,071.54 45.00 - 49.99 23.07%
40,582,137.95 50.00 - 54.99 10.83% 27,028,636.13 50.00 - 54.99 14.28%
9,061,300.85 55.00 - 59.99 2.42% 10,349,800.56 55.00 - 59.99 5.47%
466,914.17 60.00 - 64.99 0.12% - 60.00 - 64.99 0.00%
209,803.31 65.00 - 69.99 0.06% 678,779.02 65.00 - 69.99 0.36%
95,423.76 70.00 - 74.99 0.03% --------------------------------------------------------
---------------------------------------------------------- 189,227,907.77 100.00%
374,857,362.21 100.00% --------------------------------------------------------
----------------------------------------------------------
</TABLE>
--------------------------------------------------------------------------------
Banc of America Securities, LLC
This Structural Term Sheet, Collateral Term Sheet, or Computational
Materials, as appropriate (the "material"), is for your private information and
Banc of America Securities LLC (the "Underwriter") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter consider reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
--------------------------------------------------------------------------------
<PAGE>
Banc Of America Securities, LLC
Saxon 2000-2
<TABLE>
<CAPTION>
FIXED RATE LOANS ARM LOANS
Loans with Current LTV greater than 80% and NO MI Loans with Current LTV greater than 80% and NO MI
CURRENT BALANCE MI % MI CURRENT BALANCE MI % MI
<S> <C> <C> <C> <C> <C>
75,759,381.75 37,840,797.50
75,759,381.75 100.00% 37,840,797.50 100.00%
<CAPTION>
FICO Score - Fixed FICO Score - ARM
CURRENT BALANCE FICO SCORE % CURRENT BALANCE FICO SCORE %
<S> <C> <C> <C> <C> <C>
2,898,783.54 Unknown 3.83% 1,047,068.03 Unknown 2.77%
475,327.79 less than 450 0.63% 114,660.84 less than450 0.30%
6,089,914.19 450-499 8.04% 2,687,827.97 450-499 7.10%
26,568,521.18 500-549 35.07% 12,219,949.94 500-549 32.29%
25,770,895.76 550-599 34.02% 16,057,312.82 550-599 42.43%
10,376,467.93 600-649 13.70% 4,352,410.80 600-649 11.50%
2,972,812.05 650-699 3.92% 1,212,980.21 650-699 3.21%
283,303.64 700-749 0.37% 148,586.89 700-749 0.39%
323,355.67 750-799 0.43% - 750-799 0.00%
- greater than or - greater than or
equal to 800 0.00% equal to 800 0.00%
75,759,381.75 100.00% 37,840,797.50 100.00%
<CAPTION>
DTI - Fixed DTI - ARM
CURRENT BALANCE DTI % CURRENT BALANCE DTI %
<S> <C> <C> <C> <C> <C>
- 0 - 4.99 0.00% - 0 - 4.99 0.12%
280,272.99 5.00 - 9.99 0.37% - 5.00 - 9.99 0.06%
137,724.91 10.00 - 14.99 0.18% - 10.00 - 14.99 0.65%
1,298,827.37 15.00 - 19.99 1.71% 49,392.30 15.00 - 19.99 1.03%
2,100,957.17 20.00 - 24.99 2.77% 1,365,348.73 20.00 - 24.99 3.59%
5,659,577.81 25.00 - 29.99 7.47% 2,140,566.89 25.00 - 29.99 6.11%
6,612,981.46 30.00 - 34.99 8.73% 2,629,283.09 30.00 - 34.99 10.07%
12,254,772.91 35,00 - 39,99 16.18% 3,284,325.27 35.00 - 39.99 15.68%
14,369,328.94 40.00 - 44.99 18.97% 7,385,592.80 40.00 - 44.99 19.52%
19,686,330.93 45.00 - 49.99 25.99% 12,524,865.02 45.00 - 49.99 23.07%
11,896,616.15 50.00 - 54.99 15.70% 6,462,658.74 50.00 - 54.99 14.28%
1,461,991.11 55.00 - 59.99 1.93% 1,998,764.66 55.00 - 59.99 5.47%
- 60.00 - 64.99 0.00% - 60.00 - 64,99 0.00%
- 65.00 - 69.99 0.00% - 65.00 - 69.99 0.36%
- 70.00 - 74.99 0.00% 37,840,797.50 100.00%
75,759,381.75 100.00%
</TABLE>
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter consider reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Transaction
---------------------------------------------
Issuer Saxon Mortgage, Inc.
Series 2000-2
Collateral Home Equity Loans
Current Loan Balance: Expected Final of [$740,000,000]
Servicer Saxon Mortgage, Inc. (Master)
Meritech Mortgage Services (Primary)
Rating Agencies Standard and Poor's, Fitch IBCA
--------------------------------------------------------------------------------
** All information set forth is preliminary and subject to change.
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Terms
---------------------------------------------
<S> <C> <C> <C> <C>
Class MF - 2 BF - 1 MV - 2 BV - 1
Rating A BBB A BBB
Amount Class Balance: 13,964,000 12,005,000 12,000,000 6,126,000
Offered Amount: 13,964,000 12,005,000 12,000,000 6,126,000
Offered At Spread / DM: 235 335 95 210
Benchmark: 6.250 02-07 6.125 08-07
Pricing Speed: 100 FRM PPC 100 FRM PPC 100 ARM PPC 100 ARM PPC
WAL: 6.48 7.11 4.73 4.63
Priced: To Call To Maturity To Call To Call
</TABLE>
<TABLE>
<CAPTION>
Structure
--------------------------------------------
Preliminary
Credit
Support
<S> <C> <C> <C> <C>
Fixed Preliminary Initial Credit Support After Stepdown
--------------------------------------------------------------
Size% Support% Support%
------------------------------------------------------------------------------------
AAA 87.25% 12.75% 28.00%
-----------------------------------------------------------------------------------
AA 5.50% 7.25% 17.00%
------------------------------------------------------------------------------------
A 2.85% 4.40% 11.30%
-----------------------------------------------------------------------------------
BBB 2.45% 1.95% 6.40%
-----------------------------------------------------------------------------------
BB 1.95% 0.00% 2.50%
-----------------------------------------------------------------------------------
Target OC 1.25% 0.00% 0.00%
-----------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
ARM Preliminary Initial Credit Support After Stepdown
---------------------------------------------------------------
Size% Support% Support%
-----------------------------------------------------------------------------------
AAA 83.90% 16.10% 35.00%
-----------------------------------------------------------------------------------
AA 6.50% 9.60% 22.00%
-----------------------------------------------------------------------------------
A 4.80% 4.80% 12.40%
-----------------------------------------------------------------------------------
BBB 2.45% 2.35% 7.50%
-----------------------------------------------------------------------------------
BB 2.35% 0.00% 2.80%
-----------------------------------------------------------------------------------
Target OC 1.40% 0.00% 0.00%
-----------------------------------------------------------------------------------
</TABLE>
While a Trigger Event exists, principal will be paid sequentially.
Trigger Event
1)Fixed Group: 2 times 60+ Delinquency Percentage cannot exceed the
senior specified enhancement percentage.
Adjustable Group: 2 times 60+ Delinquency Percentage cannot exceed the
senior specified enhancement percentage.
Prepayment speed for Fixed Rate
100 FRM PPC Building from 2 CPR in month 1 to 20 CPR in month 10 and stays at
20 CPR thereafter.
Prepayment speed for Adjustable Rate
100 ARM PPC Building from 4 CPR in month 1 to 35 CPR in month 22 and stays at
35 CPR thereafter.
Banc of America Securities LLC
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter consider reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration previously filed with the SEC under Rule 415 of the Securities Act
of 1933, including all cases where the material does not pertain to securities
that are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities actually sold to you. This material is furnished solely by the
Underwriter and not by the issuer of the securities. The issuer of the
securities has not prepared, reviewed or participated in the preparation of this
material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
<PAGE>
Transaction
--------------------------------------------------
Issuer Saxon Mortgage, Inc.
Series 2000-2
Collateral Home Equity Loans
Current Loan Balance: Expected Final of [$740,000,000]
Servicer Saxon Mortgage, Inc. (Master)
Meritech Mortgage Services (Primary)
Rating Agencies Standard and Poor's, Fitch IBCA
--------------------------------------------------------------------------------
** All information set forth is preliminary and subject to change.
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Terms
-----------------------------------
Class MF - 1 MF - 2 BF - 1 MV - 1 MV - 2 BV - 1
Rating AA A BBB AA A BBB
<S> <C> <C> <C> <C> <C> <C>
Amount Class Balance: 26,949,000 13,964,000 12,005,000 16,251,000 12,000,000 6,126,000
Offered Amount: 26,949,000 13,964,000 12,005,000 16,251,000 12,000,000 6,126,000
Offered At Spread / DM: 185 235 335 55 95 210
Benchmark: 6.250 02-07 6.250 02-07 6.125 08-07
Pricing Speed: 100 FRM PPC 100 FRM PPC 100 FRM PPC 100 ARM PPC 100 ARM PPC 100 ARM PPC
WAL: 6.48 6.48 7.11 4.78 4.73 4.63
Priced: To Call To Call To Maturity To Call To Call To Call
</TABLE>
<TABLE>
<CAPTION>
Structure
-----------------------------------
Preliminary
Credit
Support
Fixed Preliminary Initial Credit Support After Stepdown
Size% Support% Support%
<S> <C> <C> <C>
AAA 87.25% 12.75% 28.00%
AA 5.50% 7.25% 17.00%
A 2.85% 4.40% 11.30%
BBB 2.45% 1.95% 6.40%
BB 1.95% 0.00% 2.50%
Target OC 1.25% 0.00% 0.00%
ARM Preliminary Initial Credit Support After Stepdown
Size% Support% Support%
AAA 83.90% 16.10% 35.00%
AA 6.50% 9.60% 22.00%
A 4.80% 4.80% 12.40%
BBB 2.45% 2.35% 7.50%
BB 2.35% 0.00% 2.80%
Target OC 1.40% 0.00% 0.00%
</TABLE>
While a Trigger Event exists, principal wil be paid sequentially.
<TABLE>
<CAPTION>
Trigger
Event
<S> <C>
1) Fixed Group: 2 times 60+ Delinquency Percentage cannot exceed the senior specified enhancement percentage.
Adjustable Group: 2 times 60+ Delinquency Percentage cannot exceed the senior specified enhancement percentage.
</TABLE>
Prepayment speed for Fixed Rate
100 FRM PPC Building from 2 CPR in month 1 to 20 CPR in month 10 and
stays at 20 CPR thereafter.
Prepayment speed for Adjustable Rate
100 ARM PPC Building from 4 CPR in month 1 to 35 CPR in month 22 and
stays at 35 CPR thereafter.
Banc of America Securites LLC
This Structural Term Sheet, Collateral Term Sheet, or Computational
Materials, as appropriate (the "material"), is for your private information and
Banc of America Securities LLC (the "Underwriter") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter consider reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Banc of America Securities LLC Scenario Table
================================================================================
Saxon 2000-2 TermSheet
<TABLE>
<CAPTION>
Bond Class: MF-1
Settle Date Call % Run To Description First Accrual Date Next Pay Date Actual Delay Issue Balance
06/14/2000 10.0 Call Mez 06/01/2000 07/25/2000 24 26,949,000
<CAPTION>
Balance Principal Coupon Interest Index Type Margin Accrued Interest Trigger event
<S> <C> <C> <C> <C> <C> <C> <C>
26,949,000 Normal 8.48300 Fixed None 0.00 82,553.02 Yes
</TABLE>
<TABLE>
<CAPTION>
0 PPC 50 PPC 75 PPC 100 PPC 125 PPC 150 PPC 175 PPC
<S> <C> <C> <C> <C> <C> <C> <C>
98.75000 8.703 8.719 8.731 8.749 8.768 8.789 8.811
98.87500 8.690 8.703 8.713 8.728 8.744 8.761 8.779
99.00000 8.678 8.688 8.696 8.707 8.719 8.733 8.747
99.12500 8.665 8.672 8.678 8.686 8.695 8.704 8.714
99.25000 8.653 8.657 8.660 8.665 8.671 8.676 8.682
99.37500 8.640 8.642 8.643 8.644 8.646 8.648 8.650
99.50000 8.628 8.626 8.625 8.624 8.622 8.620 8.618
99.62500 8.616 8.611 8.608 8.603 8.598 8.592 8.586
99.75000 8.603 8.596 8.590 8.582 8.573 8.564 8.554
99.87500 8.591 8.581 8.573 8.561 8.549 8.536 8.522
99.99961 8.579 8.566 8.556 8.541 8.525 8.508 8.490
100.12500 8.566 8.551 8.538 8.520 8.501 8.480 8.458
100.25000 8.554 8.535 8.521 8.499 8.477 8.452 8.426
100.37500 8.542 8.520 8.504 8.479 8.453 8.424 8.394
100.50000 8.530 8.505 8.486 8.458 8.429 8.397 8.362
100.62500 8.518 8.490 8.469 8.438 8.405 8.369 8.331
100.75000 8.505 8.475 8.452 8.417 8.381 8.341 8.299
100.87500 8.493 8.460 8.435 8.397 8.357 8.314 8.268
101.00000 8.481 8.445 8.418 8.376 8.333 8.286 8.236
101.12500 8.469 8.430 8.401 8.356 8.309 8.258 8.205
101.25000 8.457 8.416 8.383 8.335 8.285 8.231 8.173
WAL (Yrs) 25.68 15.03 11.69 8.86 7.11 5.86 4.95
Mod Dur 10.14 8.23 7.18 6.03 5.16 4.46 3.90
FirstPrinPay 09/25/2024 05/25/2015 11/25/2011 03/25/2009 06/25/2007 03/25/2006 04/25/2005
Maturity 05/25/2027 06/25/2015 02/25/2012 04/25/2009 07/25/2007 04/25/2006 05/25/2005
Prin Window (Months) 33 2 4 2 2 2 2
</TABLE>
<PAGE>
Banc Of America Securities, LLC
Saxon 2000-2
<TABLE>
<CAPTION>
FIXED RATE LOANS ARM LOANS
MI coverage for Loans with Current LTV > 80% MI coverage for Loans with Current LTV > 80%
Fixed Rate ARM Rate
--------------------------------------------------------- -----------------------------------------------------
<S> <C> <C> <C> <C> <C>
CURRENT BALANCE MI % MI CURRENT BALANCE MI % MI
--------------------------------------------------------- -----------------------------------------------------
75,759,381.75 N 56.43% 37,840,797.50 N 59.20%
58,504,636.72 Y 43.57% 26,079,109.34 Y 40.80%
--------------------------------------------------------- -----------------------------------------------------
134,264,018.47 100.00% 63,919,906.84 100.00%
--------------------------------------------------------- -----------------------------------------------------
</TABLE>
Banc of America Securities, LLC
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter consider reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information
<PAGE>
Banc of America Securities LLC
Saxon 2000-2
<TABLE>
<CAPTION>
-------------------------------------------
Period Maximum Rate AFC
-------------------------------------------
<S> <C> <C>
1 8.93
2 8.93 8.78
3 8.93 8.79
4 8.99 9.19
5 8.99 8.90
6 8.97 9.21
7 9.15 8.98
8 9.14 8.99
9 9.13 9.97
10 9.18 9.05
11 9.17 9.35
12 9.15 9.04
13 9.19 9.38
14 9.17 9.07
15 9.16 9.06
16 9.19 9.39
17 9.17 9.08
18 9.16 9.37
19 9.19 9.10
20 9.17 9.08
21 9.16 10.04
22 9.23 9.05
23 9.21 9.36
24 9.20 10.10
25 9.22 10.58
26 9.20 10.22
27 9.19 10.20
28 9.25 10.52
29 9.23 10.17
30 9.22 10.62
31 9.99 11.26
32 9.99 11.27
33 9.99 12.50
34 9.99 11.30
35 9.99 11.71
36 9.99 11.77
37 9.99 12.74
38 9.99 12.23
39 9.99 12.23
40 9.99 12.63
41 9.99 12.24
42 9.99 12.80
43 9.99 12.68
44 9.99 12.68
45 9.99 13.56
46 9.99 12.68
47 9.99 13.10
48 9.99 12.68
49 9.99 13.12
50 9.99 12.69
51 9.99 12.69
52 9.99 13.12
53 9.99 12.69
54 9.99 13.12
55 9.99 12.69
56 9.99 12.69
57 9.99 14.05
58 9.99 12.69
59 9.99 13.13
60 9.99 12.72
61 9.99 13.16
62 9.99 12.75
63 9.99 12.76
64 9.99 13.20
65 9.99 12.80
66 9.99 13.24
67 9.99 12.83
68 9.99 12.85
69 9.99 14.25
70 9.99 12.89
71 9.99 13.34
72 9.99 12.93
73 9.99 13.39
74 9.99 12.98
75 9.99 13.01
76 9.99 13.47
77 9.99 13.06
78 9.99 13.53
79 9.99 13.12
80 9.99 13.15
81 9.99 14.59
82 9.99 13.22
83 9.99 13.69
84 9.99 13.29
85 9.99 13.77
86 9.99 13.36
87 9.99 13.41
88 9.99 13.90
89 9.99 13.49
90 9.99 13.99
91 9.99 13.59
92 9.99 13.64
93 9.99 14.64
94 9.99 13.75
95 9.99 14.27
96 10.00 13.87
97 10.00 14.40
98 10.00 14.00
99 10.00 14.08
100 10.00 14.62
101 10.00 14.23
102 10.00 14.79
103 10.00 14.39
104 10.00 14.48
105 10.00 16.14
106 10.00 14.68
-------------------------------------------
</TABLE>
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter consider reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation
<PAGE>
Banc of America Securities LLC
Trader Summary Report
---------------------
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
Pool ID: Saxon 2000-2 II
Tape Date: May 01, 2000 CUTOFF: Jun 01, 2000 5/30/00
Deal Title: Saxon 2000-2
SAXON 2000-2 ARM greater than 400K 12:22PM
</TABLE>
<TABLE>
<CAPTION>
General Characteristics
<S> <C> <C> <C> <C>
Pool Size: $15,985,420 W.A. Gross Coupon: 10.179% Pool - Balloon %: 0.00%
Loan Count: 31 W.A. Net Coupon: 9.679% Pool - ARMS% 100.00%
Average Loan Balance: $ 515,659 W.A. Servicing: 0.500% W.A. Gr. Margin (ARMS) 5.789%
W.A. FICO: 580 W.A. OTerm (months) 360.0 W.A. Rollterm (ARMS) 29.7
W.A. Original LTV: 73.14% W.A. RTerm (months) 357.1 W.A. Initial Cap (ARMS) 2.176%
W.A. CLTV: 73.03% W.A. Age (months) 2.9 W.A. Interim Cap (ARMS) 1.165%
FNMA Conforming %: 0.00% Modified %: W.A.Life Cap (ARMS): 0.000%
Pct of Pool with NegAm: 0.00% Loans with PMI %: W.A. Ceiling (ARMS) 16.802%
</TABLE>
Balance Distribution Coupon Distribution
400K - 500K 45.12% 8.0 - 8.5 6.01%
500K - 600K 38.03% 8.5 - 9.0 8.90%
600K - 700K 12.18% 9.0 - 9.5 3.12%
700K - 800K 4.67% 9.5 - 10.0 23.16%
-------------------------------- 10.0 - 10.5 35.85%
Avg: $515,659 Min: $401,611 10.5 - 11 9.04%
SD: $83,712 Max: $747,241 greater than 11.0 13.92%
-----------------------------
WA: 10.179% Min: 8.375%
SD 0.832% Max: 11.750%
OLTV Distribution CurrLTV Distribution
50 - 55 3.66% 50 - 55 3.66%
55 - 60 5.36% 55 - 60 5.36%
60 - 65 11.88% 60 - 65 11.88%
65 - 70 16.48% 65 - 70 16.48%
70 - 75 23.51% 70 - 75 23.51%
75 - 80 28.09% 75 - 80 28.09%
80 - 85 5.29% 80 - 85 5.29%
85 - 90 5.73% 85 - 90 5.73%
------------------------------- -------------------------------
WA: 73.14% Min: 50.96% WA: 73.03% Min: 51%
SD: 8.91% Max: 90.00% SD: 8.89% Max: 89.90%
Product
Documentation 3/27 ARM 63.49%
FULL 45.59% 2/28 ARM 36.51%
STATED 32.19%
LIMITED 22.22%
Delinquency (Days) Margin
0 - 29 Days 100.00% 3.0 - 4.0 3.96%
4.0 - 5.0 12.75%
5.0 - 6.0 43.61%
6.0 - 7.0 36.84%
7.0 - 8.0 2.85%
------------------------------------------
WA: 5.789% Min: 4.000%
SD: 0.768% Max: 7.250%
Property Type Geographical (State)
SF Detached 83.47% CA 55.57%
PUD 13.09% AZ 7.80%
2-4 Family 3.44% TX 6.70%
WA 6.32%
TN 5.43%
Other States 18.18%
Geographical (Zip Code) Months To Roll
85219 4.67% 13 - 18 2.62%
90274 4.25% 19 - 24 33.89%
7924 3.97% 31 - 36 63.49%
80503 3.96% --------------------------------------
94569 3.68% WA: 28.76 Min: 16.00
Other ZIP Codes 79.47% SD: 6.93 Max: 36.00
Purpose Occupancy
C/O REFI 48.76% Primary 100.00%
PURCH 34.97%
R/T REFI 16.27%
Lien Position Interim Cap
1 100.00% less than or equal to 1.0 75.42%
1.0 - 2.0 21.77%
2.0 - 3.0 2.81%
----------------------------------------
WA: 1.165% Min: 1.000%
SD: 0.399% Max: 3.000%
Credit Score Credit Grade
651 - 999 15.39% A- 53.88%
596 - 650 14.95% B 22.34%
550 - 595 37.28% C 12.66%
100 - 549 32.38% A 7.17%
--------------------------------------- A+ 3.96%
WA: 580 Min: 445
SD: 61 Max: 717
Prepayment Penalty Term Life Cap
0 Years 9.15% $100.00
2 Years 17.92% -----------------------------------
3 Years 54.55% WA: 0.000% Min:
5 Years 18.38% SD: Max:
---------------------------------------
WA: 2.9 Min: 0.0
SD: 1.4 Max: 5.0
Loan Type Pool
100.00% Saxon 2000-2 II 100.00%
PMI Providers PMI Missing
None 100.00% Not Required 100.00%
All Weighted Averages omit Zero
values, where appropriate.
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on nformation
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of
<PAGE>
Banc of America Securities LLC Scenario Table
================================================================================
Saxon 2000-2 TermSheet
<TABLE>
<CAPTION>
Bond Class: A-IO
Settle Date Call % Run To Description First Accrual Date Next Pay Date Actual Delay Issue Balance
<S> <C> <C> <C> <C> <C>
06/14/2000 10.0 Call comp IO 06/01/2000 07/25/2000 24 118,000,000
<CAPTION>
Balance Principal Type Coupon Interest Type Index Type Margin Accrued Interest
<S> <C> <C> <C> <C> <C> <C>
118,000,000 Notional 6.00000 Fixed None 0.00 255,666.67
</TABLE>
<TABLE>
PP=10.0 PP=20.0 PP=30.0 PP=40.0 PP=50.0 PP=60.0 PP=62.0 PP=65.0 PP=66.0
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
7.65000 25.977 25.977 25.977 25.977 25.977 25.977 24.069 19.814 17.277
7.70000 25.291 25.291 25.291 25.291 25.291 25.291 23.377 25.291 16.566
7.75000 24.614 24.614 24.614 24.614 24.614 24.614 22.693 24.614 15.863
7.80000 23.945 23.945 23.945 23.945 23.945 23.945 22.018 23.945 15.169
7.85000 23.283 23.283 23.283 23.283 23.283 23.283 21.350 23.283 14.483
7.90000 22.630 22.630 22.630 22.630 22.630 22.630 20.691 22.630 13.805
7.95000 21.984 21.984 21.984 21.984 21.984 21.984 20.039 21.984 13.135
8.00000 21.346 21.346 21.346 21.346 21.346 21.346 19.395 21.346 12.473
8.05000 20.715 20.715 20.715 20.715 20.715 20.715 18.758 20.715 11.819
8.10000 20.091 20.091 20.091 20.091 20.091 20.091 18.128 20.091 11.172
8.15000 19.474 19.474 19.474 19.474 19.474 19.474 17.506 19.474 10.532
8.20000 18.865 18.865 18.865 18.865 18.865 18.865 16.891 18.865 9.900
8.25000 18.262 18.262 18.262 18.262 18.262 18.262 16.283 18.262 9.274
8.30000 17.666 17.666 17.666 17.666 17.666 17.666 15.681 17.666 8.656
8.35000 17.076 17.076 17.076 17.076 17.076 17.076 15.086 17.076 8.044
8.40000 16.494 16.494 16.494 16.494 16.494 16.494 14.498 16.494 7.440
8.45000 15.917 15.917 15.917 15.917 15.917 15.917 13.916 15.917 6.841
8.50000 15.347 15.347 15.347 15.347 15.347 15.347 13.340 15.347 6.250
8.55000 14.782 14.782 14.782 14.782 14.782 14.782 12.770 14.782 5.664
8.60000 14.224 14.224 14.224 14.224 14.224 14.224 12.207 14.224 5.085
8.65000 13.672 13.672 13.672 13.672 13.672 13.672 11.650 13.672 4.512
8.70000 13.125 13.125 13.125 13.125 13.125 13.125 11.098 13.125 3.945
8.75000 12.585 12.585 12.585 12.585 12.585 12.585 10.552 12.585 3.384
8.80000 12.050 12.050 12.050 12.050 12.050 12.050 10.012 12.050 2.829
8.85000 11.520 11.520 11.520 11.520 11.520 11.520 9.477 11.520 2.279
8.90000 10.996 10.996 10.996 10.996 10.996 10.996 8.948 10.996 1.735
9.16435 8.311 8.311 8.311 8.311 8.311 8.311 6.238 8.311 -1.051
WAL (Yrs) 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.62
Mod Dur 1.08 1.08 1.08 1.08 1.08 1.08 1.07 1.08 1.04
</TABLE>
