- --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 28, 1997
Access Financial Lending Corp.
(Exact name of registrant as specified in its charter)
Delaware 333-07837 41-1768416
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
400 Highway 169 South
Suite 400 55426
St. Louis Park, Minnesota (Zip Code)
(Address of Principal
Executive Offices)
Registrant's telephone number, including area code (612) 542-6500
No Change
(Former name or former address, if changed since last report)
- --------------------------------------------------------------------------------
<PAGE>
Item 5. Other Events
In connection with the offering of Access Financial Mortgage Loan Trust
1997-2 Mortgage Loan Pass- Through Certificates, Series 1997-2, described in a
Prospectus Supplement dated as of May 22, 1997, certain "Computational
Materials" within the meanings of the May 20, 1994 Kidder, Peabody No-Action
Letter and the February 17, 1995 Public Securities Association No-Action Letter
were furnished to certain prospective investors (the "Related Computational
Materials").
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibit 99.1. Related Computational Materials (as defined in Item 5
above).
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this Report to be signed on
its behalf by the undersigned thereunto duly authorized.
ACCESS FINANCIAL LENDING CORP.
------------------------------------
Registrant and on behalf of Access
Financial Mortgage Loan Trust 1997-2
By: /s/ Dan J. Cheever
-------------------------------
Name: Dan J. Cheever
Title: Chief Executive Officer
and Chief Financial
Officer
Dated: May 28, 1997
<PAGE>
EXHIBIT INDEX
Exhibit No. Description
99.1 Related Computational
Materials (as defined
in Item 5 above).
Exhibit 99.1
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1997-2 Mortgage Loan
Pass-Through Certificates, Series 1997-2
Class A Certificates
ACCESS 1997-2 [$185,188,000]
---------------------------------------------
$[39,812,000] Class A-1 Variable-Rate Certificates - 1M LIBOR + []bp
$[21,165,000] Class A-2 Fixed-Rate Certificates - []%
$[10,000,000] Class A-3 Fixed-Rate Certificates - []%
$[ 8,175,000] Class A-4 Fixed-Rate Certificates - []%
$[10,000,000] Class A-5 Fixed-Rate Certificates - []%
$[96,036,000] Class A-6 Variable-Rate Certificates - 1M LIBOR + []bp
The information herein has been provided solely by PSI based on information with
respect to the mortgage loans provided by the Access Financial Lending Corp. and
its affiliates ("ACCESS"). Neither PSI nor any of its affiliates makes any
representation as to the accuracy or completeness of the information herein. The
information herein is preliminary and will be superseded by the prospectus
supplement and by any other information subsequently filed with the Securities
and Exchange Commission ("SEC"). All assumptions and information in this report
reflect PSI's judgment as of this date and are subject to change. All analyses
are based on certain assumptions noted herein and different assumptions could
yield substantially different results. You are cautioned that there is no
universally accepted method for analyzing financial instruments. You should
review the assumptions; there may be differences between these assumptions and
your actual business practices. Further, PSI does not guarantee any results and
there is no guarantee as to the liquidity of the instruments involved in this
analysis. The decision to adopt any strategy remains your responsibility. PSI
(or any of its affiliates) or their officers, directors, analysts or employees
may have positions in securities, commodities or derivative instruments thereon
referred to here, and may, as principal or agent, buy or sell such securities,
commodities or derivative instruments. In addition, PSI may make a market in the
securities referred to herein. Neither the information nor the assumptions
reflected herein shall be construed to be, or constitute, an offer to sell or
buy or a solicitation of an offer to sell or buy any securities, commodities or
derivative instruments mentioned herein. No sale of any securities, commodities
or derivative instruments should be consumated without the purchaser first
having received a prospectus and, if required, prospectus supplement. Finally,
PSI has not addressed the legal, accounting and tax implications of the analysis
with respect to you, and PSI strongly urges you to seek advice from your
counsel, accountant and tax advisor.
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1997-2 Mortgage Loan
Pass-Through Certificates, Series 1997-2
Class A Certificates
- -------------------------------------------------------------------------------
GROUP I
CLASS A GROUP I CERTIFICATES
<TABLE>
<CAPTION>
Class A-1 Class A-2 Class A-3 Class A-4 Class A-5 NAS
Variable-Rate Fixed-Rate Fixed-Rate Fixed-Rate Fixed-Rate
--------- --------- --------- --------- ----------
<S> <C> <C> <C> <C> <C>
Approximate
Face Amount: $[39,812,000] $[21,165,000] $[10,000,000] $[8,175,000] $[10,000,000]
Avg Life: [1.05]yrs [3.05]yrs [5.30]yrs [10.00]yrs [7.00]yrs
Avg Life
to Call: [1.05]yrs [3.06]yrs [5.30]yrs [7.72]yrs [6.33]yrs
Coupon: 1M L +[]bps* [.%] [.%] [.%] []%
Price: [-] [-] [-] [-] [-]
Yield (CBE): [] [.]% [.]% [.]% [.]%
Spread (bps): [.] [] [] [] []
Pricing Spd: [24]% HEP [24]% HEP [24]% HEP [24]% HEP [24]% HEP
Settlement: [5/29/97] [5/29/97] [5/29/97] [5/29/97] [5/29/97]
1st Payment
(years): [06/18/97] [07/18/99] [08/18/01] [02/18/04] [06/18/00]
Exp. Mat: [07/18/99] [08/18/01] [02/18/04] [04/18/12] [03/18/12]
Exp. Mat
to Call: [07/18/99] [08/18/01] [02/18/04] [04/18/05] [04/18/05]
Final Mat: [03/18/12] [06/18/16] [10/18/23] [06/18/27] [06/18/27]
Day Count: Actual/360 30/360 30/360 30/360 30/360
Pymt Delay: 0 days 16 days 16 days 16 days 16 days
Dated Date: 5/29/97 5/02/97 5/02/97 5/02/97 5/02/97
Pymt Terms: Monthly Monthly Monthly Monthly Monthly
1st Pymt Date: 6/18/97 6/18/97 6/18/97 6/18/97 6/18/97
</TABLE>
*Pass-Through Rate is the lesser of:
1) One Month LIBOR + [.]bps
2) The Available Funds Cap
Available Funds Cap: A rate equal to the weighted average gross
coupon rate less [0.69%] for servicing fees, trustee
fees and certificate insurer premiums for the Group I
fixed-rate mortgage loans for such Payment Date.
Class A-5 Principal
Distribution Amount: Class A-5 is a Non-Accelerated Senior (NAS) class. The
Class A-5 Principal Distribution Amount is the
applicable Class A-5 Principal Percentage multiplied by
the Class A-5 Principal Pro Rata Distribution Amount for
such payment date.
Class A-5 Principal Percentage
-------------------------------
Month 0 - 36: 0%
Month 37 - 60: 45%
Month 61 - 72: 80%
Month 73 - 84: 100%
Month 85 - end: 140%
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1997-2
Mortgage Loan Pass-Through Certificates, Series 1997-2
Class A Certificates
- --------------------------------------------------------------------------------
GROUP II
CLASS A GROUP II CERTIFICATES
Class A-6
Variable-Rate
-------------
Approximate Face Amount: [$96,036,000]
Average Life to Mat: [3.03] years
Average Life to Call: [2.81] years
Pass-Through Rate: The lesser of:
1) One Month LIBOR + [] bps
2) The Available Funds Cap
Price: [100-00]
Yield: Variable
Pricing Speed: [26%] CPR
Settlement: [5/29/97]
1st Payment
(years): [06/18/97]
Exp Maturity: [05/18/14]
Exp Maturity to Call: [04/18/05]
Final Maturity: [05/18/27]
Day Count: actual/360
Payment Delay: 0 days.
Dated Date: [5/29/97]
Payment Terms: Monthly.
1st Payment Date: [6/18/97]
Available Funds Cap: A rate equal to the weighted average gross
coupon rate minus the [0.69%] for servicing
fees, trustee fees and certificate insurer
premiums and [0.50]% for insurance cushion
beginning in month 13 for the Group II
adjustable-rate mortgage loans for such Payment
Date.
Shortfall Reimbursement: If on any Payment Date the Class A-6 Certificate
interest distribution amount is less than the
Pass-Through Rate, the amount of such shortfall
and the aggregate of such shortfalls from
previous payment dates together with accrued
interest at the Pass-Through Rate will be
carried forward to the next Payment Date until
paid. No interest carryforward will be paid once
the Class A-6 Certificate principal balance has
been reduced to zero. The shortfall
reimbursement feature will NOT be insured by the
FSA guarantee.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1997-2
Mortgage Loan Pass-Through Certificates, Series 1997-2
Class A Certificates
Title of Securities: Access Financial Mortgage Loan Trust 1997-2,
Mortgage Loan Pass-Through Certificates, Series 1997-2
Group I: Class A-1, A-2, A-3, A-4 and A-5 (the
"Group I Certificates").
Group II: Class A-6 (the "Group II Certificates").
Company/
Master Servicer: Access Financial Lending Corp. ("Access").
Transferor: Access Financial Receivables Corp.
Sub-Servicer: LSI Financial Group
Master Servicer Fee: 45 bps per annum (if Access is not the Master Servicer,
then 50 bps per annum).****
Trustee: The Chase Manhattan Bank, N.A.
Aggregate
Certificate Balance: Group I $[89,152,000.00]
Group II $[96,036,000.00]
Pricing Date: [May [], 1997]
Settlement Date: [May 29, 1997]
Payment Date: The 18th day of each month (or, if such date is not a
business day, the next succeeding business day)
commencing June 18, 1997.
Record Date: -Class A-2, A-3, A-4 and A-5 - The first day of the
calendar month of the related Payment Date.
-Class A-1 and A-6 - The day preceding the related
Payment Date.
Interest Accrual: -Class A-2, A-3, A-4 and A-5 - The second day of the
calendar month preceding the related Payment Date to the
first day of the calendar month of the related Payment
Date, based on a 30/360 day count.
-Class A-1 and A-6 - The previous month's Payment Date
to the day preceding the related Payment Date, based on
an actual/360 day count.
Form of Certificates: Book-entry only through the same-day funds facilities
of DTC, Euroclear and CEDEL.
Denominations: Minimum denominations of $1,000 and integral multiples
of $1,000 in excess thereof.
Prepayment
Assumption: For the Group I Certificates, [24]% HEP ([2.4]% CPR in
month 1 with monthly incremental increases of [2.4]% CPR
until the speed reaches [24]% CPR in month 10 based on
loan seasoning.)
For the Group II Certificates, [26]% CPR.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1997-2
Mortgage Loan Pass-Through Certificates, Series 1997-2
Class A Certificates
Class A-5 Principal
Distribution Amount: Class A-5 is a Non-Accelerated Senior (NAS)
class. The Class A-5 Principal Distribution Amount is
the applicable Class A-5 Principal Percentage multiplied
by the Class A-5 Principal Pro Rata Distribution Amount
for such payment date.
Class A-5 Principal Percentage
-------------------------------
Month 0 - 36: 0%
Month 37 - 60: 45%
Month 61 - 72: 80%
Month 73 - 84: 100%
Month 85 - end: 140%
Credit Enhancement: A combination of:
- Excess monthly cash flow
- Overcollateralization
- Cross-collateralization
- 100% wrap from FSA guaranteeing timely interest and
ultimate principal.
Certificate Insurer: Financial Security Assurance Inc. ("FSA"). FSA's
claims-paying ability is rated AAA/Aaa by Standard &
Poor's ("S&P") and Moody's Investors Service
("Moody's"), respectively.
Certificate Ratings: The Class A Certificates will be rated AAA by
S&P and Aaa by Moody's.
10% Clean-up Call: The Company has the option to excercise a call at par
plus accrued interest when the outstanding Pool Balance
equals 10% or less of the original Pool Balance.
Auction Call: If the Company does not exercise the 10% Clean-up
Call, the Trustee will hold an Auction Call and solicit
bids to purchase the mortgage loans when the outstanding
Pool Balance has declined to 10% of the original Pool
Balance. This call will be exercised at no less than par
plus accrued interest.
ERISA Consideration: The Class A Certificates will be ERISA
eligible. However, investors should consult with their
counsel with respect to the consequences under ERISA and
the Internal Revenue Code of the Plan's acquisition and
ownership of such Certificates.
SMMEA Considerations: The Class A Certificates will not be SMMEA eligible.
Taxation: REMIC.
Prospectus: The Certificates are being offered pursuant to a
Prospectus which includes a Prospectus Supplement
(together, the "Prospectus"). Complete information with
respect to the Certificates and the Collateral is
contained in the Prospectus. The foregoing is qualified
in its entirety by the information appearing in the
Prospectus. To the extent that the foregoing is
inconsistent with the Prospectus, the Prospectus shall
govern in all respects. Sales of the Certificates may
not be consumated unless the purchaser has received the
Prospectus.
Further Information: Call PSI's ABS trading desk at (212) 778-2741, Sean
Arnold (212) 778-4921, Sean Low (212) 778-2581, Lina Hsu
(212) 778-1451 with any questions.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
Financial Strategies 05/22/97 09:56:18 am Prudential Securities
Group IMPACT CMO/ABS Analytics - Price / DMrg Act/360 Incorporated
Deal ID/CUSIP AFMLT72 Coupon * Cap Flr 0.00
Class A1 FLT CUR LIBOR-1M+TBA Accr 0.00000 1st Pmt 06/18/97
Collateral 100%WL (Real) Factor on / /
N/GWAC (Orig) / (10.443/10.893) LIBOR-1M 5.68750
WAM (Orig) (28.317) Mat N/A Settle 05/29/97
CenterPrice 100-00 Inc 0.5 Table DMrg Act/360 Roll@
FIXED HEP 24.00 HEP 15.00 HEP 18.00 HEP 20.00 HEP 27.00 HEP 30.00 HEP 33.00
Price ARMS CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00
----- --------- --------- --------- --------- --------- --------- ---------
99-28+ 19.697 16.316 17.479 18.232 20.760 21.791 22.802
99-29 18.168 15.270 16.267 16.912 19.079 19.963 20.829
99-29+ 16.639 14.225 15.055 15.593 17.398 18.135 18.857
99-30 15.110 13.179 13.843 14.274 15.718 16.307 16.884
99-30+ 13.582 12.134 12.632 12.955 14.038 14.480 14.913
99-31 12.055 11.089 11.421 11.636 12.358 12.653 12.941
99-31+ 10.527 10.044 10.210 10.318 10.679 10.826 10.970
100-00 9.000 9.000 9.000 9.000 9.000 9.000 9.000
100-00+ 7.473 7.956 7.790 7.682 7.321 7.174 7.030
100-01 5.947 6.912 6.580 6.365 5.643 5.349 5.060
100-01+ 4.421 5.868 5.370 5.048 3.965 3.524 3.091
100-02 2.895 4.824 4.161 3.731 2.288 1.700 1.122
100-02+ 1.370 3.781 2.952 2.415 0.611 -0.125 -0.846
100-03 -0.156 2.738 1.743 1.098 -1.066 -1.948 -2.814
100-03+ -1.680 1.695 0.535 -0.217 -2.742 -3.772 -4.781
Avg. Life 1.050 1.570 1.341 1.226 0.951 0.871 0.805
Mod. Dur. 0.982 1.437 1.240 1.138 0.893 0.820 0.760
1st Pmt. 0.053 0.053 0.053 0.053 0.053 0.053 0.053
Last Pmt. 2.136 3.386 2.803 2.553 1.886 1.719 1.553
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
Financial Strategies 05/22/97 09:56:42 am Prudential Securities
Group IMPACT CMO/ABS Analytics - Price / Yield Tables Incorporated
Deal ID/CUSIP AFMLT72 Coupon N/A
Class A2 CUR Accr 0.51750 1st Pmt 06/18/97
Collateral 100%WL (Real) Factor on / /
N/GWAC (Orig) / (10.443/10.893) LIBOR-1M 5.68750
WAM (Orig) (28.317) Mat N/A Settle 05/29/97
CenterPrice 99-31 Inc 0.5 Table Yield Roll@
FIXED HEP 24.00 HEP 15.00 HEP 18.00 HEP 20.00 HEP 27.00 HEP 30.00 HEP 33.00
Price ARMS CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00
----- --------- --------- --------- --------- --------- --------- ---------
99-27+ 6.937 6.959 6.952 6.947 6.930 6.922 6.914
99-28 6.931 6.956 6.948 6.942 6.923 6.915 6.906
99-28+ 6.926 6.952 6.943 6.937 6.917 6.907 6.898
99-29 6.920 6.948 6.939 6.932 6.910 6.900 6.890
99-29+ 6.914 6.944 6.934 6.927 6.903 6.893 6.882
99-30 6.908 6.941 6.930 6.923 6.897 6.886 6.874
99-30+ 6.902 6.937 6.925 6.918 6.890 6.878 6.866
99-31 6.896 6.933 6.921 6.913 6.884 6.871 6.858
99-31+ 6.890 6.929 6.916 6.908 6.877 6.864 6.850
100-00 6.885 6.925 6.912 6.903 6.871 6.856 6.842
100-00+ 6.879 6.922 6.907 6.898 6.864 6.849 6.834
100-01 6.873 6.918 6.903 6.893 6.857 6.842 6.826
100-01+ 6.867 6.914 6.898 6.888 6.851 6.834 6.818
100-02 6.861 6.910 6.894 6.883 6.844 6.827 6.810
100-02+ 6.855 6.906 6.890 6.878 6.838 6.820 6.802
Avg. Life 3.048 5.057 4.153 3.706 2.685 2.395 2.161
Mod. Dur. 2.651 4.103 3.476 3.150 2.365 2.131 1.939
1st Pmt. 2.136 3.386 2.803 2.553 1.886 1.719 1.553
Last Pmt. 4.219 7.386 5.969 5.219 3.719 3.303 2.886
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
Financial Strategies 05/22/97 09:56:53 am Prudential Securities
Group IMPACT CMO/ABS Analytics - Price / Yield Tables Incorporated
Deal ID/CUSIP AFMLT72 Coupon N/A
Class A3 CUR Accr 0.54000 1st Pmt 06/18/97
Collateral 100%WL (Real) Factor on / /
N/GWAC (Orig) / (10.443/10.893) LIBOR-1M 5.68750
WAM (Orig) (28.317) Mat N/A Settle 05/29/97
CenterPrice 99-30 Inc 0.5 Table Yield Roll@
FIXED HEP 24.00 HEP 15.00 HEP 18.00 HEP 20.00 HEP 27.00 HEP 30.00 HEP 33.00
Price ARMS CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00
----- --------- --------- --------- --------- --------- --------- ---------
99-26+ 7.274 7.286 7.283 7.280 7.269 7.264 7.259
99-27 7.270 7.284 7.280 7.277 7.265 7.260 7.254
99-27+ 7.266 7.282 7.277 7.274 7.261 7.255 7.249
99-28 7.263 7.279 7.274 7.271 7.257 7.250 7.244
99-28+ 7.259 7.277 7.272 7.268 7.252 7.246 7.239
99-29 7.255 7.275 7.269 7.265 7.248 7.241 7.233
99-29+ 7.252 7.272 7.266 7.262 7.244 7.236 7.228
99-30 7.248 7.270 7.263 7.259 7.240 7.232 7.223
99-30+ 7.244 7.268 7.261 7.255 7.236 7.227 7.218
99-31 7.241 7.265 7.258 7.252 7.231 7.222 7.213
99-31+ 7.237 7.263 7.255 7.249 7.227 7.218 7.207
100-00 7.233 7.261 7.252 7.246 7.223 7.213 7.202
100-00+ 7.229 7.258 7.250 7.243 7.219 7.208 7.197
100-01 7.226 7.256 7.247 7.240 7.215 7.204 7.192
100-01+ 7.222 7.254 7.244 7.237 7.211 7.199 7.187
Avg. Life 5.254 9.472 7.650 6.681 4.522 3.965 3.511
Mod. Dur. 4.218 6.611 5.661 5.107 3.724 3.329 2.994
1st Pmt. 4.219 7.386 5.969 5.219 3.719 3.303 2.886
Last Pmt. 6.719 12.053 9.969 8.719 5.636 4.803 4.303
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
Financial Strategies 05/22/97 09:57:36 am Prudential Securities
Group IMPACT CMO/ABS Analytics - Price / Yield Tables Incorporated
Deal ID/CUSIP AFMLT72 Coupon N/A
Class A4 CUR Accr 0.56963 1st Pmt 06/18/97
Collateral 100%WL (Real) Factor on / /
N/GWAC (Orig) / (10.443/10.893) LIBOR-1M 5.68750
WAM (Orig) (28.317) Mat N/A Settle 05/29/97
CenterPrice 100-00 Inc 0.5 Table Yield Roll@
**** TO MATURITY *******
FIXED HEP 24.00 HEP 15.00 HEP 18.00 HEP 20.00 HEP 27.00 HEP 30.00 HEP 33.00
Price ARMS CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00
----- --------- --------- --------- --------- --------- --------- ---------
99-28+ 7.682 7.689 7.688 7.686 7.678 7.673 7.667
99-29 7.680 7.688 7.686 7.684 7.675 7.670 7.664
99-29+ 7.677 7.686 7.684 7.682 7.673 7.667 7.661
99-30 7.675 7.684 7.682 7.680 7.670 7.664 7.657
99-30+ 7.673 7.682 7.680 7.678 7.668 7.661 7.654
99-31 7.670 7.680 7.678 7.676 7.665 7.658 7.651
99-31+ 7.668 7.679 7.676 7.674 7.662 7.655 7.647
100-00 7.666 7.677 7.674 7.672 7.660 7.653 7.644
100-00+ 7.663 7.675 7.672 7.670 7.657 7.650 7.641
100-01 7.661 7.673 7.670 7.667 7.655 7.647 7.637
100-01+ 7.659 7.671 7.668 7.665 7.652 7.644 7.634
100-02 7.656 7.669 7.666 7.663 7.649 7.641 7.631
100-02+ 7.654 7.668 7.664 7.661 7.647 7.638 7.627
100-03 7.652 7.666 7.662 7.659 7.644 7.635 7.624
100-03+ 7.649 7.664 7.660 7.657 7.642 7.632 7.621
Avg. Life 9.993 14.786 13.136 12.052 8.572 7.287 6.183
Mod. Dur. 6.660 8.543 7.975 7.556 5.967 5.293 4.671
1st Pmt. 6.719 12.053 9.969 8.719 5.636 4.803 4.303
Last Pmt. 14.886 21.969 19.136 17.553 14.803 14.136 12.803
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
Financial Strategies 05/22/97 09:57:14 am Prudential Securities
Group IMPACT CMO/ABS Analytics - Price / Yield Tables Incorporated
Deal ID/CUSIP AFMLT72 Coupon N/A
Class A5 NAS Accr 0.53812 1st Pmt 06/18/97
Collateral 100%WL (Real) Factor on / /
N/GWAC (Orig) / (10.443/10.893) LIBOR-1M 5.68750
WAM (Orig) (28.317) Mat N/A Settle 05/29/97
CenterPrice 99-31 Inc 0.5 Table Yield Roll@
**** TO MATURITY *******
FIXED HEP 24.00 HEP 15.00 HEP 18.00 HEP 20.00 HEP 27.00 HEP 30.00 HEP 33.00
Price ARMS CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00 CPR 26.00
----- --------- --------- --------- --------- --------- --------- ---------
99-27+ 7.249 7.253 7.251 7.250 7.248 7.246 7.245
99-28 7.246 7.250 7.249 7.248 7.244 7.243 7.242
99-28+ 7.243 7.247 7.246 7.245 7.241 7.240 7.239
99-29 7.240 7.245 7.243 7.242 7.238 7.237 7.235
99-29+ 7.237 7.242 7.240 7.239 7.235 7.234 7.232
99-30 7.234 7.240 7.238 7.236 7.232 7.230 7.229
99-30+ 7.231 7.237 7.235 7.233 7.229 7.227 7.225
99-31 7.228 7.234 7.232 7.231 7.226 7.224 7.222
99-31+ 7.225 7.232 7.229 7.228 7.223 7.221 7.219
100-00 7.222 7.229 7.226 7.225 7.220 7.217 7.215
100-00+ 7.219 7.226 7.224 7.222 7.217 7.214 7.212
100-01 7.216 7.224 7.221 7.219 7.213 7.211 7.209
100-01+ 7.213 7.221 7.218 7.216 7.210 7.208 7.206
100-02 7.210 7.218 7.215 7.214 7.207 7.205 7.202
100-02+ 7.207 7.216 7.213 7.211 7.204 7.201 7.199
Avg. Life 7.001 8.349 7.821 7.521 6.666 6.372 6.116
Mod. Dur. 5.193 5.880 5.618 5.465 5.013 4.851 4.705
1st Pmt. 3.053 3.053 3.053 3.053 3.053 3.053 3.053
Last Pmt. 14.803 21.969 19.053 14.803 14.803 14.136 12.803
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
Financial Strategies 05/22/97 09:58:40 am Prudential Securities
Group IMPACT CMO/ABS Analytics - Price / DMrg Act/360 Incorporated
Deal ID/CUSIP AFMLT72 Coupon * Cap Flr 0.00
Class A6 FLT CUR LIBOR-1M+TBA Accr 0.00000 1st Pmt 06/18/97
Collateral 100%WL (Real) Factor on / /
N/GWAC (Orig) / (10.443/10.893) LIBOR-1M 5.68750
WAM (Orig) (28.317) Mat N/A Settle 05/29/97
CenterPrice 100-00 Inc 0.5 Table DMrg Act/360 Roll@
****** TO 10% CALL *******
FIXED HEP 24.00 HEP 24.00 HEP 24.00 HEP 24.00 HEP 24.00 HEP 24.00 HEP 24.00
Price ARMS CPR 26.00 CPR 15.00 CPR 18.00 CPR 22.00 CPR 30.00 CPR 33.00 CPR 36.00
----- --------- --------- --------- --------- --------- --------- ---------
99-28+ 27.431 25.839 26.265 26.842 28.049 28.535 29.040
99-29 26.797 25.433 25.798 26.293 27.327 27.743 28.177
99-29+ 26.164 25.028 25.332 25.744 26.606 26.952 27.313
99-30 25.531 24.622 24.865 25.195 25.884 26.161 26.450
99-30+ 24.898 24.216 24.399 24.646 25.163 25.371 25.587
99-31 24.265 23.811 23.932 24.097 24.442 24.580 24.725
99-31+ 23.632 23.405 23.466 23.548 23.721 23.790 23.862
100-00 23.000 23.000 23.000 23.000 23.000 23.000 23.000
100-00+ 22.368 22.595 22.534 22.452 22.280 22.210 22.138
100-01 21.736 22.190 22.068 21.904 21.559 21.421 21.277
100-01+ 21.104 21.785 21.603 21.356 20.839 20.631 20.415
100-02 20.472 21.380 21.137 20.808 20.119 19.842 19.554
100-02+ 19.841 20.975 20.672 20.260 19.400 19.054 18.693
100-03 19.209 20.571 20.206 19.713 18.680 18.265 17.833
100-03+ 18.578 20.166 19.741 19.166 17.961 17.477 16.972
Avg. Life 2.806 4.723 3.993 3.301 2.423 2.189 1.988
Mod. Dur. 2.373 3.704 3.221 2.737 2.082 1.899 1.740
1st Pmt. 0.053 0.053 0.053 0.053 0.053 0.053 0.053
Last Pmt. 04/18/05 06/18/08 03/18/07 01/18/06 09/18/04 05/18/04 02/18/04
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
Financial Strategies 05/22/97 09:58:10 am Prudential Securities
Group IMPACT CMO/ABS Analytics - Price / DMrg Act/360 Incorporated
Deal ID/CUSIP AFMLT72 Coupon * Cap Flr 0.00
Class A6 FLT CUR LIBOR-1M+TBA Accr 0.00000 1st Pmt 06/18/97
Collateral 100%WL (Real) Factor on / /
N/GWAC (Orig) / (10.443/10.893) LIBOR-1M 5.68750
WAM (Orig) (28.317) Mat N/A Settle 05/29/97
CenterPrice 100-00 Inc 0.5 Table DMrg Act/360 Roll@
**** TO MATURITY *******
FIXED HEP 24.00 HEP 24.00 HEP 24.00 HEP 24.00 HEP 24.00 HEP 24.00 HEP 24.00
Price ARMS CPR 26.00 CPR 15.00 CPR 18.00 CPR 22.00 CPR 30.00 CPR 33.00 CPR 36.00
----- --------- --------- --------- --------- --------- --------- ---------
99-28+ 27.221 25.645 26.051 26.620 27.860 28.366 28.898
99-29 26.618 25.267 25.615 26.102 27.165 27.599 28.054
99-29+ 26.014 24.889 25.179 25.585 26.470 26.832 27.211
99-30 25.411 24.511 24.743 25.067 25.776 26.065 26.369
99-30+ 24.808 24.133 24.307 24.550 25.081 25.298 25.526
99-31 24.205 23.755 23.871 24.033 24.387 24.532 24.684
99-31+ 23.602 23.378 23.435 23.517 23.694 23.766 23.842
100-00 23.000 23.000 23.000 23.000 23.000 23.000 23.000
100-00+ 22.398 22.623 22.565 22.484 22.307 22.234 22.159
100-01 21.796 22.245 22.130 21.967 21.613 21.469 21.317
100-01+ 21.194 21.868 21.694 21.451 20.921 20.704 20.476
100-02 20.592 21.491 21.260 20.935 20.228 19.939 19.636
100-02+ 19.991 21.114 20.825 20.419 19.535 19.175 18.795
100-03 19.389 20.737 20.390 19.904 18.843 18.410 17.955
100-03+ 18.788 20.361 19.956 19.388 18.151 17.646 17.115
Avg. Life 3.027 5.398 4.500 3.641 2.567 2.291 2.059
Mod. Dur. 2.491 3.976 3.447 2.905 2.163 1.959 1.782
1st Pmt. 0.053 0.053 0.053 0.053 0.053 0.053 0.053
Last Pmt. 16.969 26.303 23.636 19.969 14.469 12.969 11.719
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
AV FUNDS SCHEDULE FOR CLASS A6
NET FUNDS CAP = GROUP II GROSS WAC - 45BP SERVICE FEE - 23BP FSA FEE
- 1BP TRUSTEE FEE - 50BP SPREAD CUSHION STARTING MTH 13
DATE NET FUNDS CAP
------ -------------
6 97 9.552
7 97 9.564
8 97 9.617
9 97 9.768
10 97 9.918
11 97 10.045
12 97 10.100
1 98 10.112
2 98 10.165
3 98 10.316
4 98 10.467
5 98 10.593
6 98 10.149
7 98 10.149
8 98 10.184
9 98 10.295
10 98 10.437
11 98 10.522
12 98 10.549
1 99 10.549
2 99 10.614
3 99 10.728
4 99 10.860
5 99 11.081
6 99 11.263
7 99 11.263
8 99 11.263
9 99 11.263
10 99 11.263
11 99 11.263
12 99 11.263
1 0 11.263
2 0 11.263
3 0 11.263
4 0 11.263
5 0 11.263
6 0 11.263
7 0 11.263
8 0 11.263
9 0 11.263
10 0 11.263
11 0 11.263
12 0 11.263
1 1 11.263
2 1 11.263
3 1 11.263
4 1 11.263
5 1 11.263
6 1 11.263
7 1 11.263
8 1 11.263
9 1 11.263
10 1 11.263
11 1 11.263
12 1 11.263
1 2 11.263
2 2 11.263
3 2 11.263
4 2 11.263
5 2 11.263
6 2 11.263
7 2 11.263
8 2 11.263
9 2 11.263
10 2 11.263
11 2 11.263
12 2 and so on 11.263
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
- --------------------------------------------------------------------------------
- AFMLT72
- Cut Off Date of Tape is 5/1/97
- FIX
- $89,156,666.34
- Mortgage Summary Report
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 1,502
Aggregate Unpaid Principal Balance: $89,156,666.34
Aggregate Original Principal Balance: $89,357,191.13
Weighted Average Gross Coupon: 11.594%
Gross Coupon Range: 7.500% - 17.950%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $59,358.63
Average Original Principal Balance: $59,492.14
Maximum Unpaid Principal Balance: $479,199.96
Minimum Unpaid Principal Balance: $10,000.00
Maximum Original Principal Balance: $479,250.00
Minimum Original Principal Balance: $10,000.00
Weighted Avg. Stated Rem. Term (PTD to Mat Date): 232.710
Stated Rem Term Range: 56.000 - 360.000
Weighted Average Age (First Pay thru Paid Thru Date): 1.856
Age Range: 0.000 - 66.000
Weighted Average Original Term: 234.567
Original Term Range: 60.000 - 360.000
Weighted Average Original LTV: 72.370
Original LTV Range: 8.000% - 90.000%
Weighted Average Combined LTV: 74.246
Combined LTV Range: 11.000% - 90.000%
Highest Zip Code Concentration 75248 0.59%
- --------------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
AK 1 101,250.00 0.11
AL 82 4,639,325.94 5.20
AZ 4 181,474.70 0.20
CA 15 1,856,895.44 2.08
CO 11 864,919.96 0.97
CT 2 203,000.00 0.23
DC 5 482,262.00 0.54
DE 2 137,949.60 0.15
FL 204 11,904,704.20 13.35
GA 83 5,590,687.98 6.27
IA 5 315,602.72 0.35
IL 41 2,505,296.71 2.81
IN 67 2,881,360.12 3.23
KS 4 149,987.76 0.17
KY 25 1,290,125.83 1.45
LA 42 2,262,245.14 2.54
MA 8 713,000.55 0.80
MD 14 876,664.53 0.98
MI 188 10,087,830.83 11.31
MN 86 4,892,435.24 5.49
MO 30 1,739,706.43 1.95
MS 26 934,926.75 1.05
NC 102 5,331,373.70 5.98
ND 1 62,650.00 0.07
NE 1 36,684.79 0.04
NH 1 57,966.69 0.07
NJ 31 2,966,782.93 3.33
NM 1 24,000.00 0.03
NV 4 284,400.12 0.32
NY 34 2,855,471.83 3.20
OH 118 6,588,965.70 7.39
OK 9 340,021.91 0.38
OR 8 545,005.48 0.61
PA 21 1,473,122.55 1.65
RI 1 85,575.71 0.10
SC 68 3,342,361.92 3.75
TN 22 1,341,705.42 1.50
TX 43 3,712,518.40 4.16
UT 15 707,785.83 0.79
VA 22 1,505,125.19 1.69
WA 7 791,874.83 0.89
WI 45 2,347,207.43 2.63
WV 3 144,413.48 0.16
- --------------------------------------------------------------------------
Total............... 1502 $ 89,156,666.34 100.00%
==========================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
COMBINED LOAN-TO-VALUE RATIOS
Percentage of
Aggregate Cut-Off Date
Combined Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
10.000 <Comb LTV<= 15.000 3 49,769.71 0.06
15.000 <Comb LTV<= 20.000 2 40,082.27 0.04
20.000 <Comb LTV<= 25.000 9 217,856.02 0.24
25.000 <Comb LTV<= 30.000 10 357,253.46 0.40
30.000 <Comb LTV<= 35.000 13 454,889.40 0.51
35.000 <Comb LTV<= 40.000 27 849,670.47 0.95
40.000 <Comb LTV<= 45.000 30 1,275,688.43 1.43
45.000 <Comb LTV<= 50.000 37 1,407,827.19 1.58
50.000 <Comb LTV<= 55.000 34 1,535,770.68 1.72
55.000 <Comb LTV<= 60.000 71 3,786,551.98 4.25
60.000 <Comb LTV<= 65.000 129 6,313,050.15 7.08
65.000 <Comb LTV<= 70.000 185 9,864,948.23 11.06
70.000 <Comb LTV<= 75.000 260 16,063,359.15 18.02
75.000 <Comb LTV<= 80.000 485 30,793,119.36 34.54
80.000 <Comb LTV<= 85.000 144 10,427,840.66 11.70
85.000 <Comb LTV<= 90.000 63 5,718,989.18 6.41
- --------------------------------------------------------------------------
Total.................... 1502 $ 89,156,666.34 100.00%
==========================================================================
GROSS MORTGAGE INTEREST RATE RANGE
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
7.00% < Gross Coupon <= 7.50% 1 135,074.86 0.15
7.50% < Gross Coupon <= 8.00% 2 240,122.89 0.27
8.00% < Gross Coupon <= 8.50% 3 203,952.52 0.23
8.50% < Gross Coupon <= 9.00% 9 700,021.16 0.79
9.00% < Gross Coupon <= 9.50% 42 2,416,908.89 2.71
9.50% < Gross Coupon <= 10.00% 116 8,297,052.39 9.31
10.00% < Gross Coupon <= 10.50% 131 9,553,791.67 10.72
10.50% < Gross Coupon <= 11.00% 227 14,665,548.60 16.45
11.00% < Gross Coupon <= 11.50% 174 11,079,781.08 12.43
11.50% < Gross Coupon <= 12.00% 216 12,505,212.92 14.03
12.00% < Gross Coupon <= 12.50% 164 9,999,395.82 11.22
12.50% < Gross Coupon <= 13.00% 152 7,881,780.43 8.84
13.00% < Gross Coupon <= 13.50% 81 3,806,929.62 4.27
13.50% < Gross Coupon <= 14.00% 82 4,044,488.52 4.54
14.00% < Gross Coupon <= 14.50% 31 1,113,438.70 1.25
14.50% < Gross Coupon <= 15.00% 31 1,193,094.96 1.34
15.00% < Gross Coupon <= 15.50% 13 491,626.06 0.55
15.50% < Gross Coupon <= 16.00% 13 407,267.46 0.46
16.00% < Gross Coupon <= 16.50% 5 176,004.17 0.20
16.50% < Gross Coupon <= 17.00% 3 73,938.65 0.08
17.00% < Gross Coupon <= 17.50% 3 57,867.06 0.06
17.50% < Gross Coupon <= 18.00% 3 113,367.91 0.13
- ----------------------------------------------------------------------------
Total.......... 1502 $ 89,156,666.34 100.00%
============================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
CURRENT MORTGAGE LOAN AMOUNTS
Percentage of
Aggregate Cut-Off Date
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
Balance <= 25,000 167 3,326,151.84 3.73
25,000 < Balance <= 50,000 619 23,568,606.65 26.44
50,000 < Balance <= 100,000 544 37,121,367.54 41.64
100,000 < Balance <= 150,000 120 14,306,567.46 16.05
150,000 < Balance <= 200,000 31 5,209,108.98 5.84
200,000 < Balance <= 250,000 13 2,895,413.91 3.25
250,000 < Balance <= 300,000 3 838,000.00 0.94
300,000 < Balance <= 350,000 2 646,250.00 0.72
350,000 < Balance <= 400,000 2 766,000.00 0.86
450,000 < Balance <= 500,000 1 479,199.96 0.54
- --------------------------------------------------------------------------
Total.................... 1502 $ 89,156,666.34 100.00%
==========================================================================
OWNER OCCUPANCY AND LIEN STATUS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
FIRST LIEN OWNER OCC 1290 80,909,966.05 90.75
SECOND HOME 8 324,898.20 0.36
NON OWNER OCC 94 4,335,108.35 4.86
SECOND LIEN OWNER OCC 108 3,515,190.57 3.94
NON OWNER OCC 2 71,503.17 0.08
- --------------------------------------------------------------------------
Total............... 1502 $ 89,156,666.34 100.00%
==========================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
AGE OF LOAN
PercentAge of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
MortgAge Principal Principal
Age Loans Balance Balance
Age = 0 316 20,056,562.00 22.50%
0 < Age <= 6 1,168 67,993,304.54 76.26%
6 < Age <= 12 9 492,708.06 0.55%
12 < Age <= 18 1 53,468.17 0.06%
18 < Age <= 24 3 177,274.94 0.20%
24 < Age <= 36 2 97,114.31 0.11%
36 < Age <= 48 1 45,031.45 0.05%
48 < Age <= 60 1 139,122.89 0.16%
60 < Age <= 72 1 102,079.98 0.11%
- -------------------------------------------------------------------
Total............ 1,502 89,156,666.34 100.00%
===================================================================
LOAN CLASS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loan Class Loans Balance Balance
3/4 UNITS 14 1,243,600.77 1.39
CONDO 27 1,489,676.86 1.67
DUPLEX 64 3,875,025.96 4.35
MANUFACTURED HOME 46 1,749,235.59 1.96
MODULAR 6 342,178.96 0.38
ROW HOUSE 17 828,330.64 0.93
SINGLE FAMILY 1314 78,909,300.61 88.51
TOWNHOUSE 14 719,316.95 0.81
- -----------------------------------------------------------------
Total.......... 1502 $ 89,156,666.34 100.00%
=================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
REMAINING MONTHS TO STATED MATURITY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
48 < Rem Term <= 60 3 101,584.16 0.11%
72 < Rem Term <= 84 4 109,297.55 0.12%
108 < Rem Term <= 120 37 1,218,753.73 1.37%
120 < Rem Term <= 132 1 23,661.00 0.03%
132 < Rem Term <= 144 1 49,166.55 0.06%
144 < Rem Term <= 156 3 115,653.39 0.13%
156 < Rem Term <= 168 2 237,154.84 0.27%
168 < Rem Term <= 180 928 54,688,105.56 61.34%
180 < Rem Term <= 192 1 139,122.89 0.16%
216 < Rem Term <= 228 1 61,202.64 0.07%
228 < Rem Term <= 240 142 7,388,242.26 8.29%
312 < Rem Term <= 324 1 45,031.45 0.05%
336 < Rem Term <= 348 1 53,468.17 0.06%
348 < Rem Term <= 360 377 24,926,222.15 27.96%
- -------------------------------------------------------------------
Total............ 1,502 89,156,666.34 100.00%
===================================================================
LOAN SUMMARY STRATIFIED BY AMORTIZATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
AMORTIZATION Loans Balance Balance
Fully Amortizing 866 45,572,116.35 51.11
Partially Amortizing 636 43,584,549.99 48.89
- --------------------------------------------------------------------------
Total.................. 1502 $ 89,156,666.34 100.00%
==========================================================================
LIEN SUMMARY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
1 1392 85,569,972.60 95.98
2 110 3,586,693.74 4.02
- --------------------------------------------------------------------------
Total............... 1502 $ 89,156,666.34 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Owner Occ. 1398 84,425,156.62 94.69
Second Home 8 324,898.20 0.36
Non Owner Occ. 96 4,406,611.52 4.94
- --------------------------------------------------------------------------
Total.................. 1502 $ 89,156,666.34 100.00%
==========================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
LOAN SUMMARY STRATIFIED BY
LOAN PURPOSE
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Purchase 167 13,014,285.79 14.60
Refinance/No ETO 74 4,880,231.11 5.47
Refinance 978 60,783,584.65 68.18
Home Improvement 10 328,875.28 0.37
Debt Consolidation 127 4,278,645.94 4.80
Other 146 5,871,043.57 6.59
- --------------------------------------------------------------------------
Total.................. 1502 $ 89,156,666.34 100.00%
==========================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
- --------------------------------------------------------------------------------
- AFMLT72
- Cut Off Date of Tape is 5/1/97
- ARM
- $96,040,213.85
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 1,059
Aggregate Unpaid Principal Balance: $96,040,213.85
Aggregate Original Principal Balance: $96,122,324.00
- --------------------------------------------------------------------------------
Weighted Average Coupon (Gross): 10.242%
Gross Coupon Range: 6.990% - 14.250%
Weighted Average Margin (Gross): 6.453%
Gross Margin Range: 3.625% - 9.750%
Weighted Average Life Cap (Gross): 16.976%
Gross Life Cap Range: 11.875% - 20.675%
Weighted Average Life Floor (Gross): 9.726%
Gross Life Floor Range: 3.625% - 14.250%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $90,689.53
Average Original Principal Balance: $90,767.07
Maximum Unpaid Principal Balance: $450,000.00
Minimum Unpaid Principal Balance: $13,921.17
Maximum Original Principal Balance: $450,000.00
Minimum Original Principal Balance: $14,000.00
Weighted Avg. Stated Rem. Term (PTD to Mat Date): 357.553
Stated Rem Term Range: 171.000 - 360.000
Weighted Average Age (First Pay thru Paid Thru): 1.191
Age Range: 0.000 - 9.000
Weighted Average Original Term: 358.744
Original Term Range: 180.000 - 360.000
Weighted Average Original LTV: 77.657
Original LTV Range: 28.000% - 90.000%
Weighted Average Periodic Interest Cap: 1.011%
Periodic Interest Cap Range: 1.000% - 1.500%
Weighted Average Months to Interest Roll: 12.489 * calculated
from 5/97 to
next rolldate
Months to Interest Roll Range: 1 - 34
Weighted Average Interest Roll Frequency: 6.000
Interest Frequency Range: 6 - 6
Lien Status 100% First Lien
Highest Zip Code Concentration 48167 0.52%
- --------------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
- --------------------------------------------------------------------------------
- AFMLT72
- Cut Off Date of Tape is 5/1/97
- ARM 6M LIBOR
- $52,020,971.26
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 581
Aggregate Unpaid Principal Balance: $52,020,971.26
Aggregate Original Principal Balance: $52,079,602.00
- --------------------------------------------------------------------------------
Weighted Average Coupon (Gross): 9.798%
Gross Coupon Range: 6.990% - 14.250%
Weighted Average Margin (Gross): 6.562%
Gross Margin Range: 3.750% - 9.750%
Weighted Average Life Cap (Gross): 16.439%
Gross Life Cap Range: 13.650% - 20.250%
Weighted Average Life Floor (Gross): 9.201%
Gross Life Floor Range: 3.750% - 14.250%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $89,536.96
Average Original Principal Balance: $89,637.87
Maximum Unpaid Principal Balance: $375,000.00
Minimum Unpaid Principal Balance: $13,921.17
Maximum Original Principal Balance: $375,000.00
Minimum Original Principal Balance: $14,000.00
Weighted Avg. Stated Rem. Term (PTD to Mat Date): 356.449
Stated Rem Term Range: 171.000 - 360.000
Weighted Average Age (First Pay thru Paid Thru): 1.488
Age Range: 0.000 - 9.000
Weighted Average Original Term: 357.937
Original Term Range: 180.000 - 360.000
Weighted Average Original LTV: 77.042
Original LTV Range: 28.000% - 90.000%
Weighted Average Periodic Interest Cap: 1.013%
Periodic Interest Cap Range: 1.000% - 1.500%
Weighted Average Months to Interest Roll: 3.8918 * calculated
from 5/97 to
next rolldate
Months to Interest Roll Range: 1 - 6
Weighted Average Interest Roll Frequency: 6.000
Interest Frequency Range: 6 - 6
- --------------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
- --------------------------------------------------------------------------------
- AFMLT72
- Cut Off Date of Tape is 5/1/97
- 2/28 6M LIBOR
- $43,569,125.15
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 475
Aggregate Unpaid Principal Balance: $43,569,125.15
Aggregate Original Principal Balance: $43,591,722.00
- --------------------------------------------------------------------------------
Weighted Average Coupon (Gross): 10.770%
Gross Coupon Range: 8.490% - 13.675%
Weighted Average Margin (Gross): 6.330%
Gross Margin Range: 3.625% - 9.500%
Weighted Average Life Cap (Gross): 17.616%
Gross Life Cap Range: 11.875% - 20.675%
Weighted Average Life Floor (Gross): 10.348%
Gross Life Floor Range: 3.625% - 13.675%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $91,724.47
Average Original Principal Balance: $91,772.05
Maximum Unpaid Principal Balance: $450,000.00
Minimum Unpaid Principal Balance: $14,950.12
Maximum Original Principal Balance: $450,000.00
Minimum Original Principal Balance: $15,000.00
Weighted Avg. Stated Rem. Term (PTD to Mat Date): 358.866
Stated Rem Term Range: 179.000 - 360.000
Weighted Average Age (First Pay thru Paid Thru): 0.829
Age Range: 0.000 - 6.000
Weighted Average Original Term: 359.694
Original Term Range: 180.000 - 360.000
Weighted Average Original LTV: 78.469
Original LTV Range: 28.000% - 90.000%
Weighted Average Periodic Interest Cap: 1.008%
Periodic Interest Cap Range: 1.000% - 1.500%
Weighted Average Months to Interest Roll: 22.535 * calculated
from 5/97 to
next rolldate
Months to Interest Roll Range: 18 - 24
Weighted Average Interest Roll Frequency: 6.000
Interest Frequency Range: 6 - 6
- --------------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
- --------------------------------------------------------------------------------
- AFMLT72
- Cut Off Date of Tape is 5/1/97
- 3/27 6M LIBOR
- $450,117.44
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 3
Aggregate Unpaid Principal Balance: $450,117.44
Aggregate Original Principal Balance: $451,000.00
- --------------------------------------------------------------------------------
Weighted Average Coupon (Gross): 10.332%
Gross Coupon Range: 9.990% - 11.150%
Weighted Average Margin (Gross): 5.681%
Gross Margin Range: 5.300% - 6.900%
Weighted Average Life Cap (Gross): 17.188%
Gross Life Cap Range: 16.990% - 18.100%
Weighted Average Life Floor (Gross): 10.332%
Gross Life Floor Range: 9.990% - 11.150%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $150,039.15
Average Original Principal Balance: $150,333.33
Maximum Unpaid Principal Balance: $314,475.09
Minimum Unpaid Principal Balance: $64,817.84
Maximum Original Principal Balance: $315,000.00
Minimum Original Principal Balance: $65,000.00
Weighted Avg. Stated Rem. Term (PTD to Mat Date): 358.000
Stated Rem Term Range: 358.000 - 358.000
Weighted Average Age (First Pay thru Paid Thru): 2.000
Age Range: 2.000 - 2.000
Weighted Average Original Term: 360.000
Original Term Range: 360.000 - 360.000
Weighted Average Original LTV: 70.261
Original LTV Range: 68.000% - 74.000%
Weighted Average Periodic Interest Cap: 1.000%
Periodic Interest Cap Range: 1.000% - 1.000%
Weighted Average Months to Interest Roll: 33.843 * calculated
from 5/97 to
next rolldate
Months to Interest Roll Range: 33 - 34
Weighted Average Interest Roll Frequency: 6.000
Interest Frequency Range: 6 - 6
- --------------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
AL 12 847,565.17 0.88
AZ 8 697,650.00 0.73
CA 31 4,101,348.75 4.27
CO 24 2,396,478.71 2.50
CT 6 648,286.49 0.68
DC 3 387,243.54 0.40
DE 4 415,670.23 0.43
FL 41 3,801,043.33 3.96
GA 7 732,027.50 0.76
IA 16 1,297,120.20 1.35
IL 75 7,401,108.09 7.71
IN 9 535,545.62 0.56
KS 6 448,370.22 0.47
KY 3 147,483.68 0.15
LA 1 141,000.00 0.15
MA 19 2,371,690.65 2.47
MD 24 2,649,096.71 2.76
MI 219 17,396,345.99 18.11
MN 127 10,414,992.62 10.84
MO 16 1,158,272.85 1.21
NC 8 956,933.57 1.00
NE 1 47,929.45 0.05
NH 3 161,772.72 0.17
NJ 31 3,492,183.90 3.64
NM 5 498,850.00 0.52
NV 6 729,059.89 0.76
NY 8 1,315,294.32 1.37
OH 67 4,766,654.38 4.96
OK 10 957,662.60 1.00
OR 16 1,823,969.43 1.90
PA 37 2,959,297.49 3.08
RI 12 1,165,624.57 1.21
SC 1 163,000.00 0.17
SD 1 52,800.00 0.05
TN 3 403,174.31 0.42
TX 59 6,699,695.69 6.98
UT 19 1,934,747.47 2.01
VA 8 920,829.67 0.96
WA 11 1,243,815.20 1.30
WI 100 7,579,828.84 7.89
WV 2 178,750.00 0.19
- --------------------------------------------------------------------------
Total............... 1059 $ 96,040,213.85 100.00%
==========================================================================
LOAN-TO-VALUE RATIOS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
25.000 < LTV <= 30.000 2 83,500.00 0.09
30.000 < LTV <= 35.000 3 247,066.69 0.26
35.000 < LTV <= 40.000 9 400,980.81 0.42
40.000 < LTV <= 45.000 6 389,000.00 0.41
45.000 < LTV <= 50.000 14 951,573.28 0.99
50.000 < LTV <= 55.000 22 1,596,045.16 1.66
55.000 < LTV <= 60.000 35 1,948,079.45 2.03
60.000 < LTV <= 65.000 51 4,043,634.32 4.21
65.000 < LTV <= 70.000 113 9,170,014.21 9.55
70.000 < LTV <= 75.000 139 12,575,346.99 13.09
75.000 < LTV <= 80.000 419 38,396,578.56 39.98
80.000 < LTV <= 85.000 142 14,266,718.72 14.85
85.000 < LTV <= 90.000 104 11,971,675.66 12.47
- --------------------------------------------------------------------------
Total.................... 1059 $ 96,040,213.85 100.00%
==========================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
GROSS MORTGAGE INTEREST RATE RANGE
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
6.50% < Gross Coupon <= 7.00% 1 114,275.57 0.12
7.00% < Gross Coupon <= 7.50% 1 54,441.48 0.06
7.50% < Gross Coupon <= 8.00% 17 1,610,962.16 1.68
8.00% < Gross Coupon <= 8.50% 35 3,246,990.32 3.38
8.50% < Gross Coupon <= 9.00% 93 9,343,384.67 9.73
9.00% < Gross Coupon <= 9.50% 125 12,134,939.09 12.64
9.50% < Gross Coupon <= 10.00% 190 19,173,105.59 19.96
10.00% < Gross Coupon <= 10.50% 149 14,865,350.62 15.48
10.50% < Gross Coupon <= 11.00% 173 14,496,353.10 15.09
11.00% < Gross Coupon <= 11.50% 99 7,874,649.99 8.20
11.50% < Gross Coupon <= 12.00% 70 5,949,529.46 6.19
12.00% < Gross Coupon <= 12.50% 65 4,233,048.61 4.41
12.50% < Gross Coupon <= 13.00% 25 1,997,255.49 2.08
13.00% < Gross Coupon <= 13.50% 9 680,202.10 0.71
13.50% < Gross Coupon <= 14.00% 4 147,050.12 0.15
14.00% < Gross Coupon <= 14.50% 3 118,675.48 0.12
- ----------------------------------------------------------------------------
Total.......... 1059 $ 96,040,213.85 100.00%
============================================================================
CURRENT MORTGAGE LOAN AMOUNTS
Percentage of
Aggregate Cut-Off Date
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
Balance <= 25,000 15 298,798.57 0.31
25,000 < Balance <= 50,000 188 7,524,590.85 7.83
50,000 < Balance <= 100,000 523 38,400,123.07 39.98
100,000 < Balance <= 150,000 215 25,847,479.65 26.91
150,000 < Balance <= 200,000 71 12,113,149.53 12.61
200,000 < Balance <= 250,000 27 5,841,557.93 6.08
250,000 < Balance <= 300,000 13 3,566,152.55 3.71
300,000 < Balance <= 350,000 5 1,623,361.70 1.69
350,000 < Balance <= 400,000 1 375,000.00 0.39
400,000 < Balance <= 450,000 1 450,000.00 0.47
- --------------------------------------------------------------------------
Total.................... 1059 $ 96,040,213.85 100.00%
==========================================================================
OWNER OCCUPANCY AND LIEN STATUS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
OWNER OCC 1008 92,674,141.20 96.50
SECOND HOME 5 526,226.02 0.55
NON OWNER OCC 46 2,839,846.63 2.96
- --------------------------------------------------------------------------
Total............... 1059 $ 96,040,213.85 100.00%
==========================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
AGE OF LOAN
PercentAge of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
MortgAge Principal Principal
Age Loans Balance Balance
Age = 0 417 37,291,014.00 38.83%
0 < Age <= 6 636 58,242,036.77 60.64%
6 < Age <= 12 6 507,163.08 0.53%
- -------------------------------------------------------------------
Total............ 1,059 96,040,213.85 100.00%
===================================================================
LOAN CLASS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loan Class Loans Balance Balance
3/4 2 164,477.79 0.17
CONDO 32 2,452,978.18 2.55
DUPLEX 42 3,207,930.29 3.34
MANUFACTURED HOME 9 627,955.88 0.65
MODULAR 7 545,924.99 0.57
ROW HOUSE 10 585,322.53 0.61
SINGLE FAMILY 941 87,124,461.10 90.72
TOWNHOUSE 16 1,331,163.09 1.39
- -----------------------------------------------------------------
Total.......... 1059 $ 96,040,213.85 100.00%
=================================================================
REMAINING MONTHS TO STATED MATURITY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
168 < Rem Term <= 180 9 500,312.94 0.52%
228 < Rem Term <= 240 3 254,885.05 0.27%
348 < Rem Term <= 360 1,047 95,285,015.86 99.21%
- -------------------------------------------------------------------
Total............ 1,059 96,040,213.85 100.00%
===================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
GROSS MARGIN
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate Number of
Principal Principal Mortgage Percent of
Gross Margin Balance Balance Loans Loan Count
<S> <C> <C> <C> <C>
3.50% < Margin <= 3.75% 1,098,861.12 1.14 12 1.13
3.75% < Margin <= 4.00% 104,850.00 .11 1 .09
4.00% < Margin <= 4.25% 337,646.81 .35 5 .47
4.25% < Margin <= 4.50% 1,230,323.14 1.28 11 1.04
4.50% < Margin <= 4.75% 1,726,497.50 1.80 13 1.23
4.75% < Margin <= 5.00% 1,594,475.78 1.66 20 1.89
5.00% < Margin <= 5.25% 3,350,258.66 3.49 39 3.68
5.25% < Margin <= 5.50% 5,990,476.86 6.24 63 5.95
5.50% < Margin <= 5.75% 8,787,888.66 9.15 84 7.93
5.75% < Margin <= 6.00% 8,561,950.05 8.91 86 8.12
6.00% < Margin <= 6.25% 8,068,713.86 8.40 93 8.78
6.25% < Margin <= 6.50% 10,770,753.63 11.21 109 10.29
6.50% < Margin <= 6.75% 9,209,252.88 9.59 97 9.16
6.75% < Margin <= 7.00% 9,770,926.34 10.17 105 9.92
7.00% < Margin <= 7.25% 7,027,619.79 7.32 85 8.03
7.25% < Margin <= 7.50% 5,741,352.15 5.98 61 5.76
7.50% < Margin <= 7.75% 4,834,456.52 5.03 61 5.76
7.75% < Margin <= 8.00% 3,143,059.92 3.27 34 3.21
8.00% < Margin <= 8.25% 1,589,051.50 1.65 25 2.36
8.25% < Margin <= 8.50% 471,259.87 .49 7 .66
8.50% < Margin <= 8.75% 828,909.29 .86 16 1.51
8.75% < Margin <= 9.00% 561,976.57 .59 7 .66
9.00% < Margin <= 9.25% 719,538.65 .75 12 1.13
9.25% < Margin <= 9.50% 294,200.95 .31 7 .66
9.50% < Margin <= 9.75% 225,913.35 .24 6 .57
- -------------------------------------------------------------------------------------
Total.................... 96,040,213.85 100.00 1,059 100.00
=====================================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
LIFE CAP
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Cap Loans Balance Balance
11.500 < LIFE CAP <= 12.000 1 93,500.00 0.10
13.000 < LIFE CAP <= 13.500 1 48,000.00 0.05
13.500 < LIFE CAP <= 14.000 11 1,004,855.15 1.05
14.000 < LIFE CAP <= 14.500 10 935,702.90 0.97
14.500 < LIFE CAP <= 15.000 37 3,775,252.73 3.93
15.000 < LIFE CAP <= 15.500 54 4,800,907.36 5.00
15.500 < LIFE CAP <= 16.000 103 10,563,992.15 11.00
16.000 < LIFE CAP <= 16.500 138 13,281,359.39 13.83
16.500 < LIFE CAP <= 17.000 198 18,522,744.52 19.29
17.000 < LIFE CAP <= 17.500 134 12,955,504.49 13.49
17.500 < LIFE CAP <= 18.000 153 13,287,302.74 13.84
18.000 < LIFE CAP <= 18.500 90 6,744,912.15 7.02
18.500 < LIFE CAP <= 19.000 54 4,546,875.39 4.73
19.000 < LIFE CAP <= 19.500 43 3,240,305.12 3.37
19.500 < LIFE CAP <= 20.000 19 1,576,388.86 1.64
20.000 < LIFE CAP <= 20.500 10 571,760.78 0.60
20.500 < LIFE CAP <= 21.000 3 90,850.12 0.09
- --------------------------------------------------------------------------
Total................. 1059 $ 96,040,213.85 100.00%
==========================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
LOAN SUMMARY STRATIFIED BY
LIFE FLOOR
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Floor Loans Balance Balance
3.500 < Life Floor <= 4.000 11 998,361.12 1.04
4.000 < Life Floor <= 4.500 2 228,979.89 0.24
4.500 < Life Floor <= 5.000 1 118,800.00 0.12
5.000 < Life Floor <= 5.500 8 739,719.51 0.77
5.500 < Life Floor <= 6.000 13 1,310,481.99 1.36
6.000 < Life Floor <= 6.500 19 2,046,154.76 2.13
6.500 < Life Floor <= 7.000 21 1,965,446.34 2.05
7.000 < Life Floor <= 7.500 28 2,751,988.22 2.87
7.500 < Life Floor <= 8.000 38 3,494,803.02 3.64
8.000 < Life Floor <= 8.500 51 4,095,725.61 4.26
8.500 < Life Floor <= 9.000 88 8,440,923.83 8.79
9.000 < Life Floor <= 9.500 116 10,839,207.24 11.29
9.500 < Life Floor <= 10.000 171 16,778,035.43 17.47
10.000 < Life Floor <= 10.500 127 12,835,434.95 13.36
10.500 < Life Floor <= 11.000 130 11,097,428.76 11.55
11.000 < Life Floor <= 11.500 78 6,146,908.43 6.40
11.500 < Life Floor <= 12.000 61 5,375,921.78 5.60
12.000 < Life Floor <= 12.500 57 3,887,135.26 4.05
12.500 < Life Floor <= 13.000 24 1,977,655.49 2.06
13.000 < Life Floor <= 13.500 9 680,202.10 0.71
13.500 < Life Floor <= 14.000 4 147,050.12 0.15
14.000 < Life Floor <= 14.500 2 83,850.00 0.09
- --------------------------------------------------------------------------
Total................. 1059 $ 96,040,213.85 100.00%
==========================================================================
NEXT INTEREST ROLLDATE DATE
Percentage
of Cut-Off
Aggregate Date
Next Number of Unpaid Aggregate
Roll Mortgage Principal Principal
Date Loans Balance Balance
06/01/97 16 $1,184,425.63 01.23
07/01/97 47 $5,102,888.50 05.31
08/01/97 159 $14,266,813.97 14.86
09/01/97 160 $14,238,324.83 14.83
10/01/97 140 $12,088,627.58 12.59
11/01/97 59 $5,139,890.75 05.35
11/01/98 2 $198,026.18 00.21
12/01/98 2 $148,689.82 00.15
01/01/99 23 $2,505,260.04 02.61
02/01/99 59 $6,334,420.28 06.60
03/01/99 106 $9,333,441.44 09.72
04/01/99 155 $14,223,324.39 14.81
05/01/99 128 $10,825,963.00 11.27
02/01/00 1 $70,824.51 00.07
03/01/00 2 $379,292.93 00.39
- --------------------------------------------------------------------------
Total........ 1059 $96,040,213.85 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY AMORTIZATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
AMORTIZATION Loans Balance Balance
Fully Amortizing 1058 95,998,733.13 99.96
Partially Amortizing 1 41,480.72 0.04
- --------------------------------------------------------------------------
Total.................. 1059 $ 96,040,213.85 100.00%
==========================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
<TABLE>
<CAPTION>
ARM TYPE
- -------------------------------------------------------------------------------------------------------------------
WA Total
# % Rem WA WA WA Current
Loan Feature Loan Pool WAC Term MARGIN LIFECAP FLOOR Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
6M LIBOR 581 54.17 9.798 356.45 6.562 16.439 9.201 $52,020,971.26
2/28 6M L 475 45.37 10.770 358.87 6.330 17.616 10.348 $43,569,125.15
3/27 6M L 3 .47 10.332 358.00 5.681 17.188 10.332 $450,117.44
- -------------------------------------------------------------------------------------------------------------------
Total..... 1,059 100.00% 10.242 357.55 6.453 16.976 9.726 $96,040,213.85
===================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT PENALTY
- -------------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
# % Rem WA Orig Loan Current
Loan Pool WAC Term Age LTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
0 453 43.62 10.006 357.25 1.39 78.98 $340,000 $41,890,727.72
1 142 14.96 10.522 359.21 .79 77.56 $336,000 $14,364,615.46
2 330 30.22 10.304 357.78 1.07 76.37 $450,000 $29,023,959.10
3 105 8.93 10.651 357.60 1.28 76.02 $375,000 $8,575,602.00
4 2 .19 10.673 359.21 .79 86.19 $109,650 $181,816.60
5 27 2.09 10.463 348.36 1.37 75.73 $169,600 $2,003,492.97
- -------------------------------------------------------------------------------------------------------------------
Total..... 1,059 100.00% 10.242 357.55 1.19 77.66 $450,000 $96,040,213.85
===================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
DOCUMENTATION LEVEL
- ------------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
# % Rem WA Orig Loan Current
Loan Pool WAC Term Age LTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Full Documentation 956 88.89 10.221 357.41 1.18 78.87 $375,000 $85,374,806.22
Alternate Documentation 11 1.83 10.256 358.87 1.13 73.19 $450,000 $1,758,136.80
Stated Documentation 92 9.27 10.442 358.67 1.33 66.88 $315,000 $8,907,270.83
- -------------------------------------------------------------------------------------------------------------------
Total..... 1,059 100.00% 10.242 357.55 1.19 77.66 $450,000 $96,040,213.85
===================================================================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
LOAN PURPOSE
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Purchase 247 25,586,242.45 26.64
Refinance/No ETO 75 7,025,811.84 7.32
Refinance 680 60,448,810.76 62.94
Debt Consolidation 18 775,641.62 0.81
Other 39 2,203,707.18 2.29
- --------------------------------------------------------------------------
Total.................. 1059 $ 96,040,213.85 100.00%
==========================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
