- --------------------------------------------------------------------------------
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) October 30, 1997
Access Financial Lending Corp.
(Exact name of registrant as specified in its charter)
Delaware 333-07837 41-1768416
(State or Other (Commission (I.R.S. Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
400 Highway 169 South
Suite 400
St. Louis Park, Minnesota 55426
(Address of Principal (Zip Code)
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
1997-3 Mortgage Loan Pass-Through Certificates, Series 1997-3, described in a
Prospectus Supplement dated as of October 23, 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 1997-3
By: /s/ Leslie Zejelik Foster
-----------------------------
Name: Leslie Zejdlik Foster
Title: President
Dated: October 30, 1997
<PAGE>
EXHIBIT INDEX
Exhibit No. Description
- ----------- -----------
99.1 Related Computational Materials (as
defined in Item 5 above).
EXHIBIT 99.1
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1997-3 Mortgage Loan
Pass-Through Certificates, Series 1997-3
Class A Certificates
ACCESS 1997-3 [$199,881,000]
- --------------------------------------------------------------------------------
$[40,100,000] Class A-1 Variable-Rate Certificates - 1M LIBOR + [TBD] bps
$[15,400,000] Class A-2 Fixed-Rate Certificates - [TBD]%
$[10,601,000] Class A-3 Fixed-Rate Certificates - [TBD]%
$[ 8,000,000] Class A-4 Fixed-Rate Certificates - [TBD]%
$[ 8,230,000] Class A-5 Fixed-Rate Certificates - [TBD]%
$[ 8,230,000]* Class A-IO Interest-Only Certificates - [5.00]%
$[50,000,000] Class A-6 Variable-Rate Certificates - 1M LIBOR + [TBD] bps
$[67,550,000] Class A-7 Variable-Rate Certificates - 1M LIBOR + [TBD] bps
* Notional Balance
The information herein has been provided solely by Prudential Securities
Incorporated (PSI) based on information with respect to the mortgage loans
provided by 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 herein, 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 consummated 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 1997-3
Mortgage Loan Pass-Through Certificates, Series 1997-3
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 Class A-IO
Variable-Rate Fixed-Rate Fixed-Rate Fixed-Rate Fixed-Rate Interest-Only
Sequential Sequential Sequential Sequential NAS Lock-Out NAS IO
------------- ---------- ---------- ---------- ------------ -------------
<S> <C> <C> <C> <C> <C> <C>
Approximate
Face Amount: $[40,100,000] $[15,400,000] $[10,601,000] $[8,000,000] $[8,230,000] $[8,230,000]
Notional Balance
Avg Life: [1.05]yrs [2.96]yrs [4.84]yrs [9.80]yrs [6.40]yrs [2.97]yrs
Avg Life
to Call: [1.05]yrs [2.96]yrs [4.84]yrs [7.41]yrs [6.16]yrs [2.97]yrs
Coupon: 1M L +[TBD]bps* [TBD] [TBD] [TBD] [TBD] [5.00]%
Price: [TBD] [TBD] [TBD] [TBD] [TBD] [TBD]
Yield (CBE): [TBD] [TBD] [TBD] [TBD] [TBD] [TBD]
Spread (bps): [TBD] [TBD] [TBD] [TBD] [TBD] [TBD]
Pricing Spd: [25]% HEP [25]% HEP [25]% HEP [25]% HEP [25]% HEP [25]% HEP
Settlement: [10/31/97] [10/31/97] [10/31/97] [10/31/97] [10/31/97] [10/31/97]
Exp Mat: [01/18/00 09/18/01 01/18/04 06/18/12 06/18/12] [10/18/00]
Exp. Mat
to Call: [01/18/00 09/18/01 01/18/04 06/18/05 06/18/05] [10/18/00]
Final Mat: [06/18/12 02/18/17 05/18/24 10/18/27 10/18/27] [10/18/00]
Day Count: Actual/360 30/360 30/360 30/360 30/360 30/360
Pymt Delay: 0 days 17 days 17 days 17 days 17 days 17 days
Dated Date: [10/31/97] [10/01/97] [10/01/97] [10/01/97] [10/01/97] [10/01/97]
Pymt Terms: Monthly Monthly Monthly Monthly Monthly Monthly
</TABLE>
*Pass-Through Rate is the lesser of:
1) One Month LIBOR + [TBD]bps
2) The Available Funds Cap
**Note: As described in the Prospectus Supplement and depending on the final
pricing levels, one or more of the Class A Group I Certificates may be
subject to the Available Funds Cap.
Available Funds Cap: A rate equal to the weighted average gross
coupon rate less (i) [66.75]bps for servicing fees,
trustee fees and certificate insurer premiums for the
Group I fixed-rate mortgage loans; and (ii) for the
first [36] Payment Dates, the product of (a) [5.00]% and
(b) the Class A-IO Notional Amount divided by the
Principal Balance of 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: 300%
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 1997-3
Mortgage Loan Pass-Through Certificates, Series 1997-3
Class A Certificates
- --------------------------------------------------------------------------------
GROUP II
CLASS A GROUP II CERTIFICATES
Class A-6
Variable-Rate
-------------
Approximate Face Amount: $[50,000,000]
Average Life to Mat: [3.04] years
Average Life to Call: [2.80] years
Pass-Through Rate: The lesser of:
1) One Month LIBOR + [TBD] bps
2) The Available Funds Cap
Price: [TBD]
Yield: Variable
Pricing Speed: [26%] CPR
Settlement: [10/31/97]
Exp Maturity: [09/18/14]
Exp Maturity to Call: [06/18/05]
Final Maturity: [10/18/27]
Day Count: Actual/360
Payment Delay: 0 days
Dated Date: [10/31/97]
Payment Terms: Monthly
1st Payment Date: 11/18/97
Available Funds Cap: A rate equal to the weighted average
gross coupon rate minus [66.75 Bp] for servicing
fees, trustee fees and certificate insurer
premiums, and, beginning in month 13, the
[0.50%] insurance cushion, for the Group II
variable-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 1997-3
Mortgage Loan Pass-Through Certificates, Series 1997-3
Class A Certificates
- --------------------------------------------------------------------------------
GROUP III
CLASS A GROUP III CERTIFICATES
Class A-7
Variable-Rate
-------------
Approximate Face Amount: [$67,550,000]
Average Life to Mat: [3.04] years
Average Life to Call: [2.80] years
Pass-Through Rate: The lesser of:
1) One Month LIBOR + [TBD] bps
2) The Available Funds Cap
Price: [TBD]
Yield: Variable
Pricing Speed: [26%] CPR
Settlement: [10/31/97]
Exp Maturity: [09/18/14]
Exp Maturity to Call: [06/18/05]
Final Maturity: [10/18/27]
Day Count: Actual/360
Payment Delay: 0 days
Dated Date: [10/31/97]
Payment Terms: Monthly
1st Payment Date: 11/18/97
Available Funds Cap: A rate equal to the weighted average
gross coupon rate minus [66.75 Bp] for servicing
fees, trustee fees and certificate insurer
premiums, and, beginning in month 13, the
[0.50%] insurance cushion, for the Group III
variable-rate mortgage loans for such Payment
Date.
Shortfall Reimbursement: If on any Payment Date the Class A-7 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-7 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 1997-3
Mortgage Loan Pass-Through Certificates, Series 1997-3
Class A Certificates
Title of Securities: Access Financial Mortgage Loan Trust 1997-3,
Mortgage Loan Pass-Through Certificates, Series 1997-3
Group I: Class A-1, A-2, A-3, A-4, A-5 and Class A-IO
(the "Group I Certificates")
Group II: Class A-6 (the "Group II Certificates")
Group III: Class A-7 (the "Group III 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 $[82,331,000.00]
Group II $[50,000,000.00]
Group III $[67,550,000.00]
Aggregate
Collateral Balance: Group I [$82,331,718.36]
Group II [$50,001,533.97]
Group III [$67,550,309.04]
Class A-IO
Certificates: The Class A-IO Certificates represent an interest-only
strip for the first [36] Payment Dates based on the
product of (i) [5.00]% and (ii) the Class A-IO Notional
Amount, which is the principal balance of the Class A-5
NAS Lock-Out Certificates.
Group II
and Group III: Although the Group II and Group III Mortgage
Loans both have adjustable-rate Mortgage Loans, the
Group II Mortgage Loans are of a higher credit quality
than the Group III Mortgage Loans. The credit quality of
a Mortgage Loan is determined by Access by analyzing
certain factors. Please refer to the Prospectus
Supplement, "Mortgage Loan Pool - The Mortgage Loan
Program -- Underwriting Standards."
Pricing Date: October [ ], 1997
Settlement Date: October [31], 1997
Payment Date: The 18th day of each month (or, if such date is not a
business day, the next succeeding business day)
commencing November 18, 1997.
Record Date: -Class A-2, A-3, A-4, A-5 and A-IO: The first day of the
calendar month of the related Payment Date
-Class A-1, A-6 and A-7: The day preceding the related
Payment Date
Interest Accrual: -Class A-2, A-3, A-4, A-5 and A-IO: 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, A-6 and A-7: The previous month's Payment
Date to the day preceding the related Payment Date,
based on a actual/360 day count
Form of Certificates: Book-entry only through the same-day funds facilities of
DTC, Euroclear and CEDEL
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 1997-3
Mortgage Loan Pass-Through Certificates, Series 1997-3
Class A Certificates
Denominations: Minimum denominations of $1,000 and integral multiples
of $1,000 in excess thereof
Prepayment
Assumption: For the Group I Certificates, [25]% HEP ([2.5]% CPR in
month 1 with monthly incremental increases of [2.5]% CPR
until the speed reaches [25]% CPR in month 10 based on
loan seasoning)
For the Group II Certificates, [26]% CPR
For the Group III Certificates, [26]% CPR
Credit Enhancement: A combination of:
- Excess monthly cash flow
- Over-collateralization
- 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 exercise 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 consummated unless the purchaser has received the
Prospectus.
Further Information: Call the ABS trading desk at (212)
778-2741, Sean Arnold (212) 778-4921, Sean Low (212)
778-2581, Lina Hsu (212) 778-1451, Januar Laude (212)
778-7176 or Adam Tepper at (212) 778-4944 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>
CURRENT BALANCE: $40,100,000.00 DATED DATE: 10/31/97
CURRENT COUPON: 5.768% FIRST PAYMENT: 11/18/97
FACTOR: 1.0000000000 TOTAL CLASSES: 8
ORIGINAL BALANCE: $40,100,000.00 YIELD TABLE DATE: 10/31/97
AFMLT73
BOND A1 DISCOUNT MARGIN ACT/360 TABLE
ASSUMED CONSTANT LIBOR-1M 5.6484
PRICING SPEED
<TABLE>
<CAPTION>
FIXED HEP 25.00 HEP 15.00 HEP 18.00 HEP 20.00 HEP 27.00 HEP 30.00 HEP 33.00
Price ARMS CPR 26.00 CPR 15.00 CPR 18.00 CPR 22.00 CPR 30.00 CPR 33.00 CPR 36.00
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 36.505 27.671 30.356 32.121 38.247 40.846 43.434
99-24+ 34.970 26.690 29.207 30.861 36.603 39.040 41.466
99-25 33.437 25.709 28.058 29.602 34.961 37.235 39.499
99-25+ 31.903 24.728 26.909 28.343 33.318 35.430 37.532
99-26 30.370 23.748 25.761 27.084 31.676 33.625 35.565
99-26+ 28.837 22.768 24.613 25.825 30.034 31.821 33.599
99-27 27.305 21.788 23.465 24.567 28.393 30.017 31.633
99-27+ 25.773 20.808 22.317 23.309 26.752 28.213 29.668
99-28 24.241 19.828 21.170 22.051 25.111 26.410 27.703
99-28+ 22.710 18.849 20.023 20.794 23.471 24.607 25.739
99-29 21.179 17.870 18.876 19.537 21.831 22.805 23.775
99-29+ 19.648 16.891 17.729 18.280 20.192 21.003 21.811
99-30 18.118 15.912 16.583 17.023 18.553 19.202 19.848
99-30+ 16.588 14.934 15.437 15.767 16.914 17.401 17.885
99-31 15.058 13.956 14.291 14.511 15.276 15.600 15.923
99-31+ 13.529 12.978 13.145 13.255 13.638 13.800 13.961
100-00 12.000 12.000 12.000 12.000 12.000 12.000 12.000
100-00+ 10.471 11.022 10.855 10.745 10.363 10.201 10.039
100-01 8.943 10.045 9.710 9.490 8.726 8.402 8.079
100-01+ 7.415 9.068 8.566 8.235 7.089 6.603 6.119
100-02 5.888 8.091 7.421 6.981 5.453 4.805 4.159
100-02+ 4.361 7.115 6.277 5.727 3.817 3.007 2.200
100-03 2.834 6.138 5.134 4.474 2.182 1.209 0.241
100-03+ 1.307 5.162 3.990 3.220 0.547 -0.588 -1.717
First Payment 0.050 0.050 0.050 0.050 0.050 0.050 0.050
Average Life 1.055 1.692 1.429 1.297 0.982 0.891 0.815
Last Payment 2.217 3.800 3.133 2.800 2.050 1.883 1.717
Mod.Dur. @ 100-00 0.986 1.540 1.315 1.200 0.921 0.838 0.769
</TABLE>
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 BALANCE: $15,400,000.00 DATED DATE: 10/01/97
COUPON: 6.625% FIRST PAYMENT: 11/18/97
FACTOR: 1.0000000000 TOTAL CLASSES: 8
ORIGINAL BALANCE: $15,400,000.00 YIELD TABLE DATE: 10/31/97
AFMLT73
BOND A2 BE-YIELD TABLE
PREPAYMENT SPEED
PRICING SPEED
<TABLE>
<CAPTION>
FIXED HEP 25.00 HEP 15.00 HEP 18.00 HEP 20.00 HEP 27.00 HEP 30.00 HEP 33.00
Price ARMS CPR 26.00 CPR 15.00 CPR 18.00 CPR 22.00 CPR 30.00 CPR 33.00 CPR 36.00
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 6.686 6.698 6.694 6.692 6.683 6.679 6.675
99-24+ 6.680 6.694 6.690 6.687 6.677 6.672 6.668
99-25 6.674 6.690 6.686 6.682 6.670 6.665 6.660
99-25+ 6.668 6.687 6.681 6.677 6.664 6.658 6.652
99-26 6.662 6.683 6.677 6.673 6.657 6.651 6.644
99-26+ 6.656 6.679 6.672 6.668 6.651 6.643 6.636
99-27 6.650 6.676 6.668 6.663 6.644 6.636 6.628
99-27+ 6.644 6.672 6.664 6.658 6.638 6.629 6.620
99-28 6.638 6.668 6.659 6.653 6.631 6.622 6.612
99-28+ 6.632 6.664 6.655 6.648 6.625 6.614 6.604
99-29 6.626 6.661 6.651 6.644 6.618 6.607 6.596
99-29+ 6.620 6.657 6.646 6.639 6.612 6.600 6.588
99-30 6.614 6.653 6.642 6.634 6.605 6.593 6.580
99-30+ 6.608 6.650 6.637 6.629 6.599 6.586 6.572
99-31 6.602 6.646 6.633 6.624 6.593 6.578 6.564
99-31+ 6.596 6.642 6.629 6.620 6.586 6.571 6.556
100-00 6.590 6.639 6.624 6.615 6.580 6.564 6.548
100-00+ 6.584 6.635 6.620 6.610 6.573 6.557 6.540
100-01 6.578 6.631 6.616 6.605 6.567 6.550 6.532
100-01+ 6.572 6.628 6.611 6.600 6.560 6.542 6.524
100-02 6.566 6.624 6.607 6.595 6.554 6.535 6.517
100-02+ 6.560 6.620 6.603 6.591 6.547 6.528 6.509
100-03 6.554 6.616 6.598 6.586 6.541 6.521 6.501
100-03+ 6.548 6.613 6.594 6.581 6.534 6.514 6.493
100-04 6.542 6.609 6.590 6.576 6.528 6.507 6.485
100-04+ 6.536 6.605 6.585 6.571 6.522 6.499 6.477
100-05 6.530 6.602 6.581 6.567 6.515 6.492 6.469
100-05+ 6.524 6.598 6.577 6.562 6.509 6.485 6.461
100-06 6.518 6.594 6.572 6.557 6.502 6.478 6.453
100-06+ 6.512 6.591 6.568 6.552 6.496 6.471 6.445
100-07 6.506 6.587 6.563 6.547 6.489 6.463 6.437
100-07+ 6.500 6.583 6.559 6.543 6.483 6.456 6.429
First Payment 2.217 3.800 3.133 2.800 2.050 1.883 1.717
Average Life 2.957 5.146 4.232 3.775 2.715 2.414 2.171
Last Payment 3.883 6.883 5.633 4.967 3.550 3.133 2.800
Mod.Dur. @ 100-00 2.597 4.209 3.565 3.227 2.404 2.159 1.957
</TABLE>
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 BALANCE: $10,601,000.00 DATED DATE: 10/01/97
COUPON: 6.905% FIRST PAYMENT: 11/18/97
FACTOR: 1.0000000000 TOTAL CLASSES: 8
ORIGINAL BALANCE: $10,601,000.00 YIELD TABLE DATE: 10/31/97
AFMLT73
BOND A3 BE-YIELD TABLE
PREPAYMENT SPEED
PRICING SPEED
<TABLE>
<CAPTION>
FIXED HEP 25.00 HEP 15.00 HEP 18.00 HEP 20.00 HEP 27.00 HEP 30.00 HEP 33.00
Price ARMS CPR 26.00 CPR 15.00 CPR 18.00 CPR 22.00 CPR 30.00 CPR 33.00 CPR 36.00
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 6.981 6.991 6.988 6.986 6.979 6.976 6.973
99-24+ 6.977 6.989 6.986 6.983 6.975 6.971 6.967
99-25 6.973 6.986 6.983 6.980 6.971 6.966 6.962
99-25+ 6.969 6.984 6.980 6.977 6.966 6.962 6.957
99-26 6.965 6.982 6.977 6.974 6.962 6.957 6.951
99-26+ 6.961 6.979 6.975 6.971 6.958 6.952 6.946
99-27 6.958 6.977 6.972 6.968 6.954 6.947 6.941
99-27+ 6.954 6.975 6.969 6.965 6.949 6.943 6.936
99-28 6.950 6.972 6.966 6.962 6.945 6.938 6.930
99-28+ 6.946 6.970 6.964 6.959 6.941 6.933 6.925
99-29 6.942 6.968 6.961 6.956 6.937 6.928 6.920
99-29+ 6.938 6.965 6.958 6.953 6.932 6.924 6.914
99-30 6.934 6.963 6.955 6.950 6.928 6.919 6.909
99-30+ 6.930 6.961 6.953 6.946 6.924 6.914 6.904
99-31 6.926 6.959 6.950 6.943 6.920 6.909 6.899
99-31+ 6.922 6.956 6.947 6.940 6.915 6.905 6.893
100-00 6.918 6.954 6.945 6.937 6.911 6.900 6.888
100-00+ 6.914 6.952 6.942 6.934 6.907 6.895 6.883
100-01 6.911 6.949 6.939 6.931 6.903 6.890 6.877
100-01+ 6.907 6.947 6.936 6.928 6.898 6.886 6.872
100-02 6.903 6.945 6.934 6.925 6.894 6.881 6.867
100-02+ 6.899 6.942 6.931 6.922 6.890 6.876 6.862
100-03 6.895 6.940 6.928 6.919 6.886 6.871 6.856
100-03+ 6.891 6.938 6.925 6.916 6.881 6.867 6.851
100-04 6.887 6.935 6.923 6.913 6.877 6.862 6.846
100-04+ 6.883 6.933 6.920 6.910 6.873 6.857 6.840
100-05 6.879 6.931 6.917 6.907 6.869 6.852 6.835
100-05+ 6.875 6.929 6.915 6.904 6.864 6.848 6.830
100-06 6.872 6.926 6.912 6.901 6.860 6.843 6.825
100-06+ 6.868 6.924 6.909 6.898 6.856 6.838 6.819
100-07 6.864 6.922 6.906 6.895 6.852 6.833 6.814
100-07+ 6.860 6.919 6.904 6.892 6.848 6.829 6.809
First Payment 3.883 6.883 5.633 4.967 3.550 3.133 2.800
Average Life 4.840 9.537 7.604 6.570 4.397 3.856 3.415
Last Payment 6.217 12.300 10.383 9.300 5.550 4.800 4.217
Mod.Dur. @ 100-00 3.972 6.726 5.687 5.082 3.663 3.271 2.940
</TABLE>
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 BALANCE: $8,000,000.00 DATED DATE: 10/01/97
COUPON: 7.220% FIRST PAYMENT: 11/18/97
FACTOR: 1.0000000000 TOTAL CLASSES: 8
ORIGINAL BALANCE: $8,000,000.00 YIELD TABLE DATE: 10/31/97
AFMLT73
BOND A4 BE-YIELD TABLE
PREPAYMENT SPEED
*** TO MATURITY ***
PRICING SPEED
<TABLE>
<CAPTION>
FIXED HEP 25.00 HEP 15.00 HEP 18.00 HEP 20.00 HEP 27.00 HEP 30.00 HEP 33.00
Price ARMS CPR 26.00 CPR 15.00 CPR 18.00 CPR 22.00 CPR 30.00 CPR 33.00 CPR 36.00
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 7.313 7.317 7.316 7.315 7.312 7.309 7.306
99-24+ 7.311 7.315 7.314 7.313 7.309 7.306 7.303
99-25 7.308 7.313 7.312 7.311 7.306 7.303 7.300
99-25+ 7.306 7.311 7.310 7.309 7.304 7.301 7.297
99-26 7.304 7.310 7.308 7.307 7.301 7.298 7.293
99-26+ 7.301 7.308 7.306 7.305 7.299 7.295 7.290
99-27 7.299 7.306 7.305 7.303 7.296 7.292 7.287
99-27+ 7.297 7.304 7.303 7.301 7.294 7.289 7.284
99-28 7.294 7.303 7.301 7.299 7.291 7.286 7.281
99-28+ 7.292 7.301 7.299 7.297 7.289 7.284 7.277
99-29 7.290 7.299 7.297 7.295 7.286 7.281 7.274
99-29+ 7.287 7.297 7.295 7.293 7.284 7.278 7.271
99-30 7.285 7.296 7.293 7.291 7.281 7.275 7.268
99-30+ 7.283 7.294 7.291 7.289 7.279 7.272 7.264
99-31 7.280 7.292 7.289 7.287 7.276 7.269 7.261
99-31+ 7.278 7.290 7.288 7.285 7.274 7.267 7.258
100-00 7.276 7.288 7.286 7.283 7.271 7.264 7.255
100-00+ 7.273 7.287 7.284 7.281 7.269 7.261 7.252
100-01 7.271 7.285 7.282 7.280 7.266 7.258 7.248
100-01+ 7.269 7.283 7.280 7.278 7.264 7.255 7.245
100-02 7.266 7.281 7.278 7.276 7.261 7.252 7.242
100-02+ 7.264 7.280 7.276 7.274 7.259 7.250 7.239
100-03 7.262 7.278 7.274 7.272 7.256 7.247 7.235
100-03+ 7.259 7.276 7.272 7.270 7.254 7.244 7.232
100-04 7.257 7.274 7.271 7.268 7.251 7.241 7.229
100-04+ 7.255 7.273 7.269 7.266 7.249 7.238 7.226
100-05 7.252 7.271 7.267 7.264 7.246 7.235 7.223
100-05+ 7.250 7.269 7.265 7.262 7.244 7.233 7.219
100-06 7.248 7.267 7.263 7.260 7.241 7.230 7.216
100-06+ 7.246 7.265 7.261 7.258 7.239 7.227 7.213
100-07 7.243 7.264 7.259 7.256 7.236 7.224 7.210
100-07+ 7.241 7.262 7.257 7.254 7.234 7.221 7.206
First Payment 6.217 12.300 10.383 9.300 5.550 4.800 4.217
Average Life 9.800 14.855 13.301 12.298 8.831 7.492 6.343
Last Payment 14.633 22.300 19.383 17.800 14.633 13.967 12.633
Mod.Dur. @ 100-00 6.691 8.777 8.225 7.829 6.196 5.477 4.819
</TABLE>
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 BALANCE: $8,230,000.00 DATED DATE: 10/01/97
COUPON: 6.785% FIRST PAYMENT: 11/18/97
FACTOR: 1.0000000000 TOTAL CLASSES: 8
ORIGINAL BALANCE: $8,230,000.00 YIELD TABLE DATE: 10/31/97
AFMLT73
BOND A5 BE-YIELD TABLE
PREPAYMENT SPEED
*** TO MATURITY ***
PRICING SPEED
<TABLE>
<CAPTION>
FIXED HEP 25.00 HEP 15.00 HEP 18.00 HEP 20.00 HEP 27.00 HEP 30.00 HEP 33.00
Price ARMS CPR 26.00 CPR 15.00 CPR 18.00 CPR 22.00 CPR 30.00 CPR 33.00 CPR 36.00
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 6.864 6.865 6.865 6.864 6.863 6.863 6.862
99-24+ 6.860 6.863 6.862 6.861 6.860 6.860 6.859
99-25 6.857 6.860 6.859 6.858 6.857 6.856 6.856
99-25+ 6.854 6.857 6.856 6.855 6.854 6.853 6.852
99-26 6.851 6.854 6.853 6.852 6.851 6.850 6.849
99-26+ 6.848 6.851 6.850 6.849 6.847 6.847 6.846
99-27 6.845 6.848 6.847 6.846 6.844 6.843 6.842
99-27+ 6.842 6.846 6.844 6.843 6.841 6.840 6.839
99-28 6.838 6.843 6.841 6.841 6.838 6.837 6.836
99-28+ 6.835 6.840 6.838 6.838 6.835 6.833 6.832
99-29 6.832 6.837 6.836 6.835 6.831 6.830 6.829
99-29+ 6.829 6.834 6.833 6.832 6.828 6.827 6.826
99-30 6.826 6.832 6.830 6.829 6.825 6.824 6.823
99-30+ 6.823 6.829 6.827 6.826 6.822 6.820 6.819
99-31 6.820 6.826 6.824 6.823 6.819 6.817 6.816
99-31+ 6.817 6.823 6.821 6.820 6.815 6.814 6.813
100-00 6.813 6.820 6.818 6.817 6.812 6.811 6.809
100-00+ 6.810 6.817 6.815 6.814 6.809 6.807 6.806
100-01 6.807 6.815 6.812 6.811 6.806 6.804 6.803
100-01+ 6.804 6.812 6.809 6.808 6.803 6.801 6.799
100-02 6.801 6.809 6.806 6.805 6.799 6.798 6.796
100-02+ 6.798 6.806 6.803 6.802 6.796 6.794 6.793
100-03 6.795 6.803 6.800 6.799 6.793 6.791 6.789
100-03+ 6.791 6.801 6.798 6.796 6.790 6.788 6.786
100-04 6.788 6.798 6.795 6.793 6.787 6.785 6.783
100-04+ 6.785 6.795 6.792 6.790 6.784 6.781 6.779
100-05 6.782 6.792 6.789 6.787 6.780 6.778 6.776
100-05+ 6.779 6.789 6.786 6.784 6.777 6.775 6.773
100-06 6.776 6.786 6.783 6.781 6.774 6.772 6.769
100-06+ 6.773 6.784 6.780 6.778 6.771 6.768 6.766
100-07 6.770 6.781 6.777 6.775 6.768 6.765 6.763
100-07+ 6.766 6.778 6.774 6.772 6.765 6.762 6.759
First Payment 3.050 3.050 3.050 3.050 3.050 3.050 3.050
Average Life 6.396 7.357 7.006 6.810 6.261 6.088 5.935
Last Payment 14.633 14.633 14.633 14.633 14.633 13.800 12.467
Mod.Dur. @ 100-00 4.960 5.515 5.317 5.205 4.877 4.769 4.673
</TABLE>
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 BALANCE: $8,230,000.00 DATED DATE: 10/01/97
COUPON: 5.000% FIRST PAYMENT: 11/18/97
FACTOR: 1.0000000000 TOTAL CLASSES: 8
ORIGINAL BALANCE: $8,230,000.00 YIELD TABLE DATE: 10/31/97
AFMLT73
BOND A-IO BE-YIELD TABLE
PREPAYMENT SPEED
*** TO MATURITY ***
PRICING SPEED
<TABLE>
<CAPTION>
FIXED HEP 25.00 HEP 15.00 HEP 18.00 HEP 20.00 HEP 27.00 HEP 30.00 HEP 33.00
Price ARMS CPR 26.00 CPR 15.00 CPR 18.00 CPR 22.00 CPR 30.00 CPR 33.00 CPR 36.00
<S> <C> <C> <C> <C> <C> <C> <C>
11.55258 16.187 16.187 16.187 16.187 16.187 16.187 16.187
11.65258 15.543 15.543 15.543 15.543 15.543 15.543 15.543
11.75258 14.908 14.908 14.908 14.908 14.908 14.908 14.908
11.85258 14.282 14.282 14.282 14.282 14.282 14.282 14.282
11.95258 13.665 13.665 13.665 13.665 13.665 13.665 13.665
12.05258 13.056 13.056 13.056 13.056 13.056 13.056 13.056
12.15258 12.456 12.456 12.456 12.456 12.456 12.456 12.456
12.25258 11.864 11.864 11.864 11.864 11.864 11.864 11.864
12.35258 11.280 11.280 11.280 11.280 11.280 11.280 11.280
12.45258 10.704 10.704 10.704 10.704 10.704 10.704 10.704
12.55258 10.135 10.135 10.135 10.135 10.135 10.135 10.135
12.65258 9.574 9.574 9.574 9.574 9.574 9.574 9.574
12.75258 9.021 9.021 9.021 9.021 9.021 9.021 9.021
12.85258 8.474 8.474 8.474 8.474 8.474 8.474 8.474
12.95258 7.934 7.934 7.934 7.934 7.934 7.934 7.934
13.05258 7.401 7.401 7.401 7.401 7.401 7.401 7.401
13.15258 6.875 6.875 6.875 6.875 6.875 6.875 6.875
13.25258 6.355 6.355 6.355 6.355 6.355 6.355 6.355
13.35258 5.842 5.842 5.842 5.842 5.842 5.842 5.842
13.45258 5.335 5.335 5.335 5.335 5.335 5.335 5.335
13.55258 4.834 4.834 4.834 4.834 4.834 4.834 4.834
13.65258 4.339 4.339 4.339 4.339 4.339 4.339 4.339
13.75258 3.850 3.850 3.850 3.850 3.850 3.850 3.850
13.85258 3.367 3.367 3.367 3.367 3.367 3.367 3.367
13.95258 2.889 2.889 2.889 2.889 2.889 2.889 2.889
14.05258 2.417 2.417 2.417 2.417 2.417 2.417 2.417
14.15258 1.951 1.951 1.951 1.951 1.951 1.951 1.951
14.25258 1.489 1.489 1.489 1.489 1.489 1.489 1.489
14.35258 1.033 1.033 1.033 1.033 1.033 1.033 1.033
14.45258 0.582 0.582 0.582 0.582 0.582 0.582 0.582
14.55258 0.136 0.136 0.136 0.136 0.136 0.136 0.136
14.65258 -0.305 -0.305 -0.305 -0.305 -0.305 -0.305 -0.305
First Payment 2.967 2.967 2.967 2.967 2.967 2.967 2.967
Average Life 2.967 2.967 2.967 2.967 2.967 2.967 2.967
Last Payment 2.967 2.967 2.967 2.967 2.967 2.967 2.967
Mod.Dur. @13.15258 1.409 1.409 1.409 1.409 1.409 1.409 1.409
</TABLE>
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 BALANCE: $50,000,000.00 DATED DATE: 10/31/97
CURRENT COUPON: 5.848% FIRST PAYMENT: 11/18/97
FACTOR: 1.0000000000 TOTAL CLASSES: 8
ORIGINAL BALANCE: $50,000,000.00 YIELD TABLE DATE: 10/31/97
AFMLT73
BOND A6 DISCOUNT MARGIN ACT/360 TABLE
ASSUMED CONSTANT LIBOR-1M 5.6484
*** TO MATURITY ***
PRICING SPEED
<TABLE>
<CAPTION>
FIXED HEP 25.00 HEP 15.00 HEP 18.00 HEP 20.00 HEP 27.00 HEP 30.00 HEP 33.00
Price ARMS CPR 26.00 CPR 15.00 CPR 18.00 CPR 22.00 CPR 30.00 CPR 33.00 CPR 36.00
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 29.612 26.009 26.935 28.235 31.075 32.235 33.454
99-24+ 29.010 25.632 26.501 27.719 30.381 31.468 32.611
99-25 28.408 25.256 26.066 27.203 29.687 30.702 31.769
99-25+ 27.806 24.880 25.632 26.688 28.994 29.936 30.926
99-26 27.204 24.504 25.198 26.172 28.301 29.170 30.084
99-26+ 26.603 24.128 24.764 25.657 27.608 28.405 29.242
99-27 26.002 23.752 24.330 25.142 26.915 27.639 28.401
99-27+ 25.401 23.376 23.897 24.627 26.223 26.874 27.559
99-28 24.800 23.001 23.463 24.112 25.530 26.110 26.718
99-28+ 24.199 22.625 23.030 23.598 24.838 25.345 25.878
99-29 23.599 22.250 22.597 23.083 24.146 24.581 25.037
99-29+ 22.998 21.875 22.163 22.569 23.455 23.817 24.197
99-30 22.398 21.499 21.730 22.055 22.763 23.053 23.357
99-30+ 21.798 21.124 21.298 21.541 22.072 22.289 22.517
99-31 21.199 20.749 20.865 21.027 21.381 21.526 21.678
99-31+ 20.599 20.375 20.432 20.513 20.691 20.763 20.839
100-00 20.000 20.000 20.000 20.000 20.000 20.000 20.000
100-00+ 19.401 19.625 19.568 19.487 19.310 19.237 19.161
100-01 18.802 19.251 19.136 18.974 18.620 18.475 18.323
100-01+ 18.203 18.877 18.704 18.461 17.930 17.713 17.485
100-02 17.605 18.503 18.272 17.948 17.240 16.951 16.647
100-02+ 17.006 18.128 17.840 17.435 16.551 16.189 15.810
100-03 16.408 17.754 17.408 16.923 15.862 15.428 14.972
100-03+ 15.810 17.381 16.977 16.410 15.173 14.667 14.136
100-04 15.212 17.007 16.546 15.898 14.484 13.906 13.299
100-04+ 14.615 16.633 16.114 15.386 13.795 13.145 12.462
100-05 14.018 16.260 15.683 14.874 13.107 12.385 11.626
100-05+ 13.420 15.886 15.253 14.363 12.419 11.625 10.790
100-06 12.823 15.513 14.822 13.851 11.731 10.865 9.955
100-06+ 12.226 15.140 14.391 13.340 11.043 10.105 9.119
100-07 11.630 14.767 13.961 12.829 10.356 9.346 8.284
100-07+ 11.033 14.394 13.530 12.318 9.669 8.587 7.449
First Payment 0.050 0.050 0.050 0.050 0.050 0.050 0.050
Average Life 3.043 5.428 4.525 3.661 2.580 2.302 2.068
Last Payment 16.883 26.217 23.550 19.967 14.467 12.967 11.633
Mod.Dur. @ 100-00 2.511 4.014 3.478 2.930 2.179 1.973 1.794
</TABLE>
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 BALANCE: $50,000,000.00 DATED DATE: 10/31/97
CURRENT COUPON: 5.848% FIRST PAYMENT: 11/18/97
FACTOR: 1.0000000000 TOTAL CLASSES: 8
ORIGINAL BALANCE: $50,000,000.00 YIELD TABLE DATE: 10/31/97
AFMLT73
BOND A6 DISCOUNT MARGIN ACT/360 TABLE
ASSUMED CONSTANT LIBOR-1M 5.6484
*** TO CALL ***
PRICING SPEED
<TABLE>
<CAPTION>
FIXED HEP 25.00 HEP 25.00 HEP 25.00 HEP 25.00 HEP 25.00 HEP 25.00 HEP 25.00
Price ARMS CPR 26.00 CPR 15.00 CPR 18.00 CPR 22.00 CPR 30.00 CPR 33.00 CPR 36.00
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 30.145 26.420 27.422 28.759 31.588 32.726 33.884
99-24+ 29.510 26.018 26.957 28.210 30.863 31.929 33.014
99-25 28.875 25.616 26.493 27.662 30.137 31.132 32.145
99-25+ 28.239 25.214 26.028 27.113 29.411 30.336 31.276
99-26 27.605 24.813 25.564 26.565 28.686 29.539 30.407
99-26+ 26.970 24.411 25.099 26.017 27.961 28.743 29.538
99-27 26.335 24.009 24.635 25.470 27.236 27.947 28.670
99-27+ 25.701 23.608 24.171 24.922 26.512 27.151 27.801
99-28 25.067 23.207 23.707 24.374 25.787 26.356 26.934
99-28+ 24.433 22.805 23.243 23.827 25.063 25.560 26.066
99-29 23.799 22.404 22.779 23.280 24.339 24.765 25.199
99-29+ 23.165 22.003 22.316 22.733 23.616 23.971 24.332
99-30 22.532 21.602 21.852 22.186 22.892 23.176 23.465
99-30+ 21.899 21.202 21.389 21.639 22.169 22.382 22.598
99-31 21.266 20.801 20.926 21.093 21.446 21.588 21.732
99-31+ 20.633 20.400 20.463 20.546 20.723 20.794 20.866
100-00 20.000 20.000 20.000 20.000 20.000 20.000 20.000
100-00+ 19.367 19.600 19.537 19.454 19.278 19.207 19.134
100-01 18.735 19.199 19.075 18.908 18.555 18.413 18.269
100-01+ 18.103 18.799 18.612 18.362 17.833 17.620 17.404
100-02 17.471 18.399 18.150 17.817 17.111 16.828 16.539
100-02+ 16.839 18.000 17.687 17.271 16.390 16.035 15.675
100-03 16.208 17.600 17.225 16.726 15.668 15.243 14.811
100-03+ 15.576 17.200 16.763 16.181 14.947 14.451 13.947
100-04 14.945 16.801 16.301 15.636 14.226 13.659 13.083
100-04+ 14.314 16.401 15.840 15.091 13.505 12.868 12.219
100-05 13.683 16.002 15.378 14.546 12.785 12.076 11.356
100-05+ 13.052 15.603 14.916 14.001 12.064 11.285 10.493
100-06 12.422 15.204 14.455 13.457 11.344 10.495 9.631
100-06+ 11.791 14.805 13.994 12.913 10.624 9.704 8.768
100-07 11.161 14.406 13.533 12.369 9.904 8.914 7.906
100-07+ 10.531 14.007 13.072 11.825 9.185 8.123 7.044
First Payment 0.050 0.050 0.050 0.050 0.050 0.050 0.050
Average Life 2.800 4.788 4.018 3.312 2.413 2.176 1.978
Last Payment 7.633 11.300 9.800 8.550 6.967 6.550 6.300
Mod.Dur. @ 100-00 2.378 3.756 3.249 2.754 2.082 1.896 1.738
</TABLE>
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 BALANCE: $67,550,000.00 DATED DATE: 10/31/97
CURRENT COUPON: 5.868% FIRST PAYMENT: 11/18/97
FACTOR: 1.0000000000 TOTAL CLASSES: 8
ORIGINAL BALANCE: $67,550,000.00 YIELD TABLE DATE: 10/31/97
AFMLT73
BOND A7 DISCOUNT MARGIN ACT/360 TABLE
ASSUMED CONSTANT LIBOR-1M 5.6484
*** TO MATURITY ***
PRICING SPEED
<TABLE>
<CAPTION>
FIXED HEP 25.00 HEP 15.00 HEP 18.00 HEP 20.00 HEP 27.00 HEP 30.00 HEP 33.00
Price ARMS CPR 26.00 CPR 15.00 CPR 18.00 CPR 22.00 CPR 30.00 CPR 33.00 CPR 36.00
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 31.615 28.011 28.938 30.238 33.078 34.238 35.458
99-24+ 31.013 27.635 28.503 29.722 32.384 33.472 34.615
99-25 30.410 27.258 28.069 29.206 31.690 32.705 33.772
99-25+ 29.808 26.882 27.634 28.690 30.997 31.939 32.929
99-26 29.207 26.506 27.200 28.175 30.303 31.173 32.087
99-26+ 28.605 26.129 26.766 27.659 29.610 30.407 31.245
99-27 28.004 25.753 26.332 27.144 28.917 29.642 30.403
99-27+ 27.402 25.378 25.898 26.629 28.225 28.876 29.561
99-28 26.801 25.002 25.464 26.114 27.532 28.111 28.720
99-28+ 26.201 24.626 25.031 25.599 26.840 27.347 27.879
99-29 25.600 24.251 24.598 25.084 26.148 26.582 27.039
99-29+ 24.999 23.875 24.164 24.570 25.456 25.818 26.198
99-30 24.399 23.500 23.731 24.056 24.764 25.054 25.358
99-30+ 23.799 23.125 23.298 23.541 24.073 24.290 24.518
99-31 23.199 22.750 22.865 23.027 23.382 23.526 23.678
99-31+ 22.599 22.375 22.433 22.514 22.691 22.763 22.839
100-00 22.000 22.000 22.000 22.000 22.000 22.000 22.000
100-00+ 21.401 21.625 21.568 21.487 21.309 21.237 21.161
100-01 20.802 21.251 21.135 20.973 20.619 20.475 20.323
100-01+ 20.203 20.876 20.703 20.460 19.929 19.712 19.484
100-02 19.604 20.502 20.271 19.947 19.239 18.950 18.646
100-02+ 19.005 20.128 19.839 19.434 18.550 18.188 17.809
100-03 18.407 19.754 19.407 18.922 17.860 17.427 16.971
100-03+ 17.809 19.380 18.976 18.409 17.171 16.665 16.134
100-04 17.211 19.006 18.544 17.897 16.482 15.904 15.297
100-04+ 16.613 18.632 18.113 17.385 15.793 15.144 14.460
100-05 16.016 18.258 17.682 16.873 15.105 14.383 13.624
100-05+ 15.418 17.885 17.251 16.361 14.417 13.623 12.788
100-06 14.821 17.511 16.820 15.849 13.728 12.862 11.952
100-06+ 14.224 17.138 16.389 15.337 13.041 12.102 11.116
100-07 13.627 16.765 15.958 14.826 12.353 11.343 10.281
100-07+ 13.030 16.392 15.528 14.315 11.665 10.583 9.446
First Payment 0.050 0.050 0.050 0.050 0.050 0.050 0.050
Average Life 3.044 5.432 4.527 3.662 2.581 2.303 2.069
Last Payment 16.883 26.217 23.633 19.967 14.467 12.967 11.717
Mod.Dur. @ 100-00 2.509 4.012 3.477 2.928 2.178 1.972 1.794
</TABLE>
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 BALANCE: $67,550,000.00 DATED DATE: 10/31/97
CURRENT COUPON: 5.868% FIRST PAYMENT: 11/18/97
FACTOR: 1.0000000000 TOTAL CLASSES: 8
ORIGINAL BALANCE: $67,550,000.00 YIELD TABLE DATE: 10/31/97
AFMLT73
BOND A7 DISCOUNT MARGIN ACT/360 TABLE
ASSUMED CONSTANT LIBOR-1M 5.6484
*** TO CALL ***
PRICING SPEED
<TABLE>
<CAPTION>
FIXED HEP 25.00 HEP 25.00 HEP 25.00 HEP 25.00 HEP 25.00 HEP 25.00 HEP 25.00
Price ARMS CPR 26.00 CPR 15.00 CPR 18.00 CPR 22.00 CPR 30.00 CPR 33.00 CPR 36.00
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 32.148 28.423 29.425 30.762 33.592 34.730 35.887
99-24+ 31.513 28.021 28.960 30.213 32.866 33.932 35.018
99-25 30.877 27.618 28.495 29.664 32.140 33.135 34.148
99-25+ 30.242 27.216 28.030 29.116 31.414 32.338 33.278
99-26 29.607 26.814 27.566 28.568 30.689 31.542 32.409
99-26+ 28.972 26.413 27.101 28.019 29.964 30.745 31.540
99-27 28.337 26.011 26.637 27.471 29.239 29.949 30.672
99-27+ 27.703 25.609 26.173 26.924 28.514 29.153 29.804
99-28 27.068 25.208 25.708 26.376 27.789 28.357 28.935
99-28+ 26.434 24.806 25.244 25.828 27.065 27.562 28.068
99-29 25.800 24.405 24.781 25.281 26.341 26.767 27.200
99-29+ 25.166 24.004 24.317 24.734 25.617 25.972 26.333
99-30 24.533 23.603 23.853 24.187 24.893 25.177 25.466
99-30+ 23.899 23.202 23.390 23.640 24.169 24.382 24.599
99-31 23.266 22.801 22.926 23.093 23.446 23.588 23.732
99-31+ 22.633 22.401 22.463 22.546 22.723 22.794 22.866
100-00 22.000 22.000 22.000 22.000 22.000 22.000 22.000
100-00+ 21.367 21.600 21.537 21.454 21.277 21.206 21.134
100-01 20.735 21.199 21.074 20.908 20.555 20.413 20.269
100-01+ 20.102 20.799 20.611 20.362 19.833 19.620 19.403
100-02 19.470 20.399 20.149 19.816 19.110 18.827 18.538
100-02+ 18.838 19.999 19.686 19.270 18.389 18.034 17.674
100-03 18.206 19.599 19.224 18.725 17.667 17.242 16.809
100-03+ 17.575 19.199 18.762 18.179 16.946 16.450 15.945
100-04 16.943 18.799 18.300 17.634 16.224 15.658 15.081
100-04+ 16.312 18.400 17.838 17.089 15.503 14.866 14.217
100-05 15.681 18.000 17.376 16.544 14.782 14.074 13.354
100-05+ 15.050 17.601 16.914 15.999 14.062 13.283 12.491
100-06 14.419 17.202 16.453 15.455 13.342 12.492 11.628
100-06+ 13.789 16.802 15.991 14.910 12.621 11.701 10.765
100-07 13.158 16.403 15.530 14.366 11.901 10.910 9.903
100-07+ 12.528 16.004 15.069 13.822 11.182 10.120 9.041
First Payment 0.050 0.050 0.050 0.050 0.050 0.050 0.050
Average Life 2.801 4.790 4.019 3.312 2.413 2.176 1.978
Last Payment 7.633 11.300 9.800 8.550 6.967 6.550 6.300
Mod.Dur. @ 100-00 2.377 3.754 3.248 2.753 2.081 1.896 1.738
</TABLE>
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>
GRP II AV FUNDS CAP
30/360 DAY COUNT BASIS
AVAILABLE FUNDS CAP = GROUP II COLLATERAL CURRENT GROSS WAC - 45BP
(SERVICE FEE) - 21.75BP (SURETY +TRUSTEE) - 50BP (SURETY
CUSHION, BEGINNING IN MONTH 13)
DATE COUPON
- -------------
11/97 9.717
12/97 9.812
01/98 9.959
02/98 10.072
03/98 10.141
04/98 10.163
05/98 10.180
06/98 10.275
07/98 10.422
08/98 10.535
09/98 10.604
10/98 10.626
11/98 10.141
12/98 10.194
01/99 10.236
02/99 10.279
03/99 10.316
04/99 10.329
05/99 10.354
06/99 10.465
07/99 10.719
08/99 10.881
09/99 11.024
10/99 11.086
11/99 11.086
12/99 11.086
01/00 11.086
02/00 11.086
03/00 11.086
04/00 11.086
05/00 11.086
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>
GRP III AV FUNDS CAP
30/360 DAY COUNT BASIS
AVAILABLE FUNDS CAP = GROUP III COLLATERAL CURRENT GROSS WAC - 45BP
(SERVICE FEE) - 21.75BP (SURETY +TRUSTEE) - 50BP (SURETY
CUSHION, BEGINNING IN MONTH 13)
DATE COUPON
- -------------
11/97 9.740
12/97 9.836
01/98 9.974
02/98 10.091
03/98 10.168
04/98 10.185
05/98 10.201
06/98 10.297
07/98 10.435
08/98 10.552
09/98 10.629
10/98 10.646
11/98 10.161
12/98 10.198
01/99 10.229
02/99 10.282
03/99 10.339
04/99 10.356
05/99 10.381
06/99 10.478
07/99 10.834
08/99 11.006
09/99 11.138
10/99 11.179
11/99 11.179
12/99 11.179
01/00 11.179
02/00 11.179
03/00 11.179
04/00 11.179
05/00 11.179
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>
- --------------------------------------------------------------------------------
- ACCESS73
- Cut Off Date of Tape is 10/1/97
- GROUP I
- $82,331,718.36
- Mortgage Summary Report
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 1,500
Aggregate Unpaid Principal Balance: $82,331,718.36
Aggregate Original Principal Balance: $82,578,677.59
Weighted Average Gross Coupon: 11.537%
Gross Coupon Range: 8.250% - 18.350%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $54,887.81
Average Original Principal Balance: $55,052.45
Maximum Unpaid Principal Balance: $400,000.00
Minimum Unpaid Principal Balance: $9,777.41
Maximum Original Principal Balance: $400,000.00
Minimum Original Principal Balance: $10,000.00
Weighted Avg. Stated Rem. Term (LPD to Mat Date): 236.268
Stated Rem Term Range: 49.000 - 360.000
Weighted Average Age (First Pay thru Last Pay): 3.161
Age Range: 0.000 - 33.000
Weighted Average Original Term: 239.429
Original Term Range: 60.000 - 360.000
Weighted Average Original LTV: 72.384
Original LTV Range: 7.000% - 90.000%
Weighted Average Combined LTV: 74.598
Combined LTV Range: 18.000% - 90.000%
- --------------------------------------------------------------------------------
Greatest Zip Code Concentration
43607 16 loans 0.74% $607,183.85
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 60,469.43 0.07
AL 119 5,294,824.53 6.43
AZ 6 269,241.57 0.33
CA 6 427,202.65 0.52
CO 11 839,739.25 1.02
CT 3 443,563.52 0.54
DC 3 242,408.92 0.29
DE 1 68,800.00 0.08
FL 163 9,025,460.16 10.96
GA 65 4,263,505.07 5.18
IA 13 593,390.35 0.72
ID 1 24,756.38 0.03
IL 55 3,186,844.29 3.87
IN 51 2,095,607.69 2.55
KS 12 734,364.33 0.89
KY 12 449,688.65 0.55
LA 2 106,540.00 0.13
MA 2 193,250.00 0.23
MD 32 2,625,019.67 3.19
MI 175 9,459,666.03 11.49
MN 119 7,176,145.05 8.72
MO 21 944,593.72 1.15
MS 14 640,256.09 0.78
NC 105 5,491,193.86 6.67
ND 2 111,481.88 0.14
NE 4 133,897.42 0.16
NJ 11 912,099.65 1.11
NM 7 278,709.83 0.34
NV 5 328,331.53 0.40
NY 18 1,935,433.30 2.35
OH 185 9,186,342.14 11.16
OK 5 248,199.12 0.30
OR 3 61,700.61 0.07
PA 19 878,190.19 1.07
RI 1 120,000.00 0.15
SC 55 2,370,218.72 2.88
SD 1 17,500.00 0.02
TN 37 2,082,171.02 2.53
TX 42 2,607,500.28 3.17
UT 23 1,036,543.68 1.26
VA 32 2,351,742.95 2.86
WA 6 508,657.66 0.62
WI 51 2,466,597.84 3.00
WY 1 39,869.33 0.05
- --------------------------------------------------------------------------
Total............... 1500 $ 82,331,718.36 100.00%
==========================================================================
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
----- ----- ------- -------
15.000 <Comb LTV<= 20.000 3 61,658.60 0.07
20.000 <Comb LTV<= 25.000 10 186,130.55 0.23
25.000 <Comb LTV<= 30.000 8 228,343.07 0.28
30.000 <Comb LTV<= 35.000 18 494,630.91 0.60
35.000 <Comb LTV<= 40.000 18 563,607.83 0.68
40.000 <Comb LTV<= 45.000 23 896,758.97 1.09
45.000 <Comb LTV<= 50.000 55 2,086,778.00 2.53
50.000 <Comb LTV<= 55.000 35 1,619,876.62 1.97
55.000 <Comb LTV<= 60.000 84 3,400,905.89 4.13
60.000 <Comb LTV<= 65.000 101 4,560,429.91 5.54
65.000 <Comb LTV<= 70.000 189 9,192,205.27 11.16
70.000 <Comb LTV<= 75.000 277 15,659,450.11 19.02
75.000 <Comb LTV<= 80.000 454 25,813,948.89 31.35
80.000 <Comb LTV<= 85.000 151 11,430,969.28 13.88
85.000 <Comb LTV<= 90.000 74 6,136,024.46 7.45
- --------------------------------------------------------------------------
Total.................... 1500 $ 82,331,718.36 100.00%
==========================================================================
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
----- ----- ------- -------
8.00% < Gross Coupon <= 8.50% 3 272,981.93 0.33
8.50% < Gross Coupon <= 9.00% 9 636,119.17 0.77
9.00% < Gross Coupon <= 9.50% 30 1,890,242.38 2.30
9.50% < Gross Coupon <= 10.00% 99 7,110,767.37 8.64
10.00% < Gross Coupon <= 10.50% 129 8,008,435.38 9.73
10.50% < Gross Coupon <= 11.00% 258 16,244,716.64 19.73
11.00% < Gross Coupon <= 11.50% 177 9,097,232.87 11.05
11.50% < Gross Coupon <= 12.00% 241 12,917,530.15 15.69
12.00% < Gross Coupon <= 12.50% 178 9,104,347.26 11.06
12.50% < Gross Coupon <= 13.00% 174 8,024,212.68 9.75
13.00% < Gross Coupon <= 13.50% 81 3,518,075.01 4.27
13.50% < Gross Coupon <= 14.00% 66 3,020,799.68 3.67
14.00% < Gross Coupon <= 14.50% 27 1,366,472.61 1.66
14.50% < Gross Coupon <= 15.00% 18 719,216.95 0.87
15.00% < Gross Coupon <= 15.50% 3 99,703.38 0.12
15.50% < Gross Coupon <= 16.00% 1 22,566.89 0.03
16.00% < Gross Coupon <= 16.50% 3 137,267.98 0.17
16.50% < Gross Coupon <= 17.00% 2 85,137.37 0.10
18.00% < Gross Coupon <= 18.50% 1 55,892.66 0.07
- ----------------------------------------------------------------------------
Total.......... 1500 $ 82,331,718.36 100.00%
============================================================================
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 <= 25,000 187 3,651,459.46 4.44
25,000 < Balance <= 50,000 649 24,511,233.82 29.77
50,000 < Balance <= 100,000 541 36,755,824.69 44.64
100,000 < Balance <= 150,000 99 12,012,455.13 14.59
150,000 < Balance <= 200,000 11 1,894,296.29 2.30
200,000 < Balance <= 250,000 5 1,107,578.13 1.35
250,000 < Balance <= 300,000 6 1,661,462.18 2.02
300,000 < Balance <= 350,000 1 337,408.66 0.41
350,000 < Balance <= 400,000 1 400,000.00 0.49
- --------------------------------------------------------------------------
Total.................... 1500 $ 82,331,718.36 100.00%
==========================================================================
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>
LIEN AND OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
----- ------- -------
First Lien Owner Occ 1249 72,389,583.28 87.92
First Lien Non Owner Occ 108 5,434,078.27 6.60
First Lien Second Home 8 536,780.23 0.65
Second Lien Owner Occ 123 3,632,115.31 4.41
Second Lien Non Owner Occ 10 270,356.65 0.33
Second Lien Second Home 2 68,804.62 0.08
- -------------------------------------------------------------------------
Total............... 1500 $ 82,331,718.36 100.00%
=========================================================================
AGE OF LOAN
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
MortgAge Principal Principal
Age Loans Balance Balance
--- ----- ------- -------
Age = 0 31 1,827,050.00 2.22%
0 < Age <= 6 1,434 78,041,345.09 94.79%
6 < Age <= 12 31 2,316,944.72 2.81%
12 < Age <= 18 2 77,696.51 0.09%
24 < Age <= 36 2 68,682.04 0.08%
- -------------------------------------------------------------------
Total............ 1,500 82,331,718.36 100.00%
===================================================================
REMAINING MONTHS TO STATED MATURITY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
-------------- ----- ------- -------
48 < Rem Term <= 60 4 178,348.38 0.22%
72 < Rem Term <= 84 2 69,353.29 0.08%
84 < Rem Term <= 96 1 13,876.15 0.02%
108 < Rem Term <= 120 43 1,299,835.24 1.58%
132 < Rem Term <= 144 2 56,835.97 0.07%
156 < Rem Term <= 168 1 39,299.81 0.05%
168 < Rem Term <= 180 890 47,623,902.43 57.84%
204 < Rem Term <= 216 1 45,300.76 0.06%
216 < Rem Term <= 228 1 38,396.70 0.05%
228 < Rem Term <= 240 169 7,807,505.10 9.48%
324 < Rem Term <= 336 1 23,381.28 0.03%
348 < Rem Term <= 360 385 25,135,683.25 30.53%
- -------------------------------------------------------------------
Total............ 1,500 82,331,718.36 100.00%
===================================================================
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
OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
----- ------- -------
Owner Occ. 1372 76,021,698.59 92.34
Second Home 10 605,584.85 0.74
Non Owner Occ. 118 5,704,434.92 6.93
- ----------------------------------------------------------------------------
Total.................. 1500 $ 82,331,718.36 100.00%
============================================================================
LOAN SUMMARY STRATIFIED BY AMORTIZATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
AMORTIZATION Loans Balance Balance
------------ ----- ------- -------
Fully Amortizing 936 47,111,616.28 57.22
Partially Amortizing 564 35,220,102.08 42.78
- --------------------------------------------------------------------------
Total.................. 1500 $ 82,331,718.36 100.00%
==========================================================================
LIEN SUMMARY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
----- ------- -------
1 .................. 1365 78,360,441.78 95.18
2 .................. 135 3,971,276.58 4.82
- --------------------------------------------------------------------------
Total............... 1500 $ 82,331,718.36 100.00%
==========================================================================
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
----- ------- -------
Single-family 1318 72,458,940.96 88.01
Duplex 56 3,021,117.35 3.67
Modular Housing 4 209,094.56 0.25
Manufactured Housing 45 1,681,726.71 2.04
SF Row House 15 1,078,494.84 1.31
Townhouses 25 1,517,406.00 1.84
Condominiums 24 1,465,634.39 1.78
2-4 Family 13 899,303.55 1.09
- --------------------------------------------------------------------------
Total............... 1500 $ 82,331,718.36 100.00%
==========================================================================
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>
- --------------------------------------------------------------------------------
- ACCESS 73
- Cut Off Date of Tape is 10/1/97
- GROUP II
- $50,001,533.97
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 627
Aggregate Unpaid Principal Balance: $50,001,533.97
Aggregate Original Principal Balance: $50,085,226.84
- --------------------------------------------------------------------------------
Weighted Average Coupon (Gross): 10.384%
Gross Coupon Range: 7.600% - 14.900%
Weighted Average Margin (Gross): 6.347%
Gross Margin Range: 3.000% - 9.980%
Weighted Average Life Cap (Gross): 17.102%
Gross Life Cap Range: 13.780% - 21.330%
Weighted Average Life Floor (Gross): 10.007%
Gross Life Floor Range: 3.250% - 14.900%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $79,747.26
Average Original Principal Balance: $79,880.74
Maximum Unpaid Principal Balance: $212,944.60
Minimum Unpaid Principal Balance: $17,265.38
Maximum Original Principal Balance: $213,300.00
Minimum Original Principal Balance: $17,325.00
Weighted Avg. Stated Rem. Term (PTD to Mat Date): 356.205
Stated Rem Term Range: 117.000 - 360.000
Weighted Average Age (First Pay thru Paid Thru): 2.891
Age Range: 0.000 - 10.000
Weighted Average Original Term: 359.096
Original Term Range: 120.000 - 360.000
Weighted Average Combined LTV: 78.447
Combined LTV Range: 19.000% - 90.000%
Weighted Average Periodic Interest Cap: 1.013%
Periodic Interest Cap Range: 1.000% - 2.000%
Weighted Average Months to Interest Roll: 12.340
* calculated from 10///97 to next rolldate
Months to Interest Roll Range: 1 - 23
Weighted Average Interest Roll Frequency: 6.000
Interest Frequency Range: 6 - 6
- --------------------------------------------------------------------------------
All First Liens
Greatest Zip Code Concentration:
92128 13 loans 2.54% $1,271,928.83
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 3 284,280.01 0.57
AZ 3 315,476.04 0.63
CA 15 1,526,233.56 3.05
CO 11 1,194,361.02 2.39
CT 3 294,971.73 0.59
FL 18 1,188,263.78 2.38
GA 3 329,546.44 0.66
IA 10 616,867.58 1.23
ID 1 67,935.76 0.14
IL 56 4,970,442.14 9.94
IN 1 94,500.00 0.19
KS 5 367,266.92 0.73
MA 10 937,269.37 1.87
MD 10 946,764.14 1.89
ME 1 83,310.49 0.17
MI 170 11,979,065.90 23.96
MN 75 6,023,352.65 12.05
MO 1 19,977.78 0.04
NC 8 555,206.29 1.11
NJ 9 1,122,382.21 2.24
NM 5 435,036.55 0.87
NV 5 527,359.36 1.05
OH 52 3,479,799.74 6.96
OK 3 157,222.93 0.31
OR 3 301,574.69 0.60
PA 25 1,675,201.11 3.35
RI 2 192,500.00 0.38
TX 37 3,241,095.00 6.48
UT 13 1,474,409.80 2.95
VA 5 453,562.87 0.91
WA 10 1,115,692.87 2.23
WI 53 3,983,141.85 7.97
WY 1 47,463.39 0.09
- --------------------------------------------------------------------------
Total............... 627 $ 50,001,533.97 100.00%
==========================================================================
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
----- ----- ------- -------
15.000 <Comb LTV<= 20.000 1 60,915.84 0.12
25.000 <Comb LTV<= 30.000 1 25,000.00 0.05
30.000 <Comb LTV<= 35.000 4 107,804.98 0.22
35.000 <Comb LTV<= 40.000 5 301,850.31 0.60
40.000 <Comb LTV<= 45.000 2 243,620.77 0.49
45.000 <Comb LTV<= 50.000 6 306,656.76 0.61
50.000 <Comb LTV<= 55.000 14 885,241.90 1.77
55.000 <Comb LTV<= 60.000 15 888,785.28 1.78
60.000 <Comb LTV<= 65.000 42 3,087,467.95 6.17
65.000 <Comb LTV<= 70.000 44 2,767,205.66 5.53
70.000 <Comb LTV<= 75.000 88 6,503,635.49 13.01
75.000 <Comb LTV<= 80.000 224 17,591,278.10 35.18
80.000 <Comb LTV<= 85.000 92 8,393,191.51 16.79
85.000 <Comb LTV<= 90.000 89 8,838,879.42 17.68
- --------------------------------------------------------------------------
Total.................... 627 $ 50,001,533.97 100.00%
==========================================================================
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
----- ----- ------- -------
7.50% < Gross Coupon <= 8.00% 5 306,624.31 0.61
8.00% < Gross Coupon <= 8.50% 10 783,181.81 1.57
8.50% < Gross Coupon <= 9.00% 48 4,650,685.08 9.30
9.00% < Gross Coupon <= 9.50% 79 6,420,422.88 12.84
9.50% < Gross Coupon <= 10.00% 108 8,791,589.16 17.58
10.00% < Gross Coupon <= 10.50% 98 8,319,886.93 16.64
10.50% < Gross Coupon <= 11.00% 96 7,466,361.80 14.93
11.00% < Gross Coupon <= 11.50% 67 5,375,207.94 10.75
11.50% < Gross Coupon <= 12.00% 64 4,737,613.17 9.47
12.00% < Gross Coupon <= 12.50% 28 1,611,457.53 3.22
12.50% < Gross Coupon <= 13.00% 17 1,143,836.74 2.29
13.00% < Gross Coupon <= 13.50% 3 129,220.70 0.26
13.50% < Gross Coupon <= 14.00% 1 108,425.19 0.22
14.00% < Gross Coupon <= 14.50% 2 94,620.73 0.19
14.50% < Gross Coupon <= 15.00% 1 62,400.00 0.12
- ----------------------------------------------------------------------------
Total.......... 627 $ 50,001,533.97 100.00%
============================================================================
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 18 383,879.86 0.77
25,000 < Balance <= 50,000 136 5,407,381.87 10.81
50,000 < Balance <= 100,000 300 21,833,722.86 43.67
100,000 < Balance <= 150,000 141 16,788,702.44 33.58
150,000 < Balance <= 200,000 29 4,954,612.21 9.91
200,000 < Balance <= 250,000 3 633,234.73 1.27
- --------------------------------------------------------------------------
Total.................... 627 $ 50,001,533.97 100.00%
==========================================================================
AGE OF LOAN
PercentAge of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
MortgAge Principal Principal
Age Loans Balance Balance
--- ----- ------- -------
Age = 0 28 2,393,523.00 4.79%
0 < Age <= 6 578 45,594,968.47 91.19%
6 < Age <= 12 21 2,013,042.50 4.03%
- -------------------------------------------------------------------
Total............ 627 50,001,533.97 100.00%
===================================================================
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 TYPE
WA Total
# % Rem WA WA WA Current
Loan Feature Loan Pool WAC Term MARGIN LIFECAP FLOOR Balance
- ------------ ---- ---- --- ---- ------ ------- ----- -------
2/28 341 54.03 10.743 356.59 6.258 17.535 10.446 $27,015,076.93
ARM 286 45.97 9.963 355.75 6.452 16.594 9.491 $22,986,457.04
- --------------------------------------------------------------------------------
Total..... 627 100.00% 10.384 356.20 6.347 17.102 10.007 $50,001,533.97
================================================================================
REMAINING MONTHS TO STATED MATURITY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
-------------- ----- ------- -------
108 < Rem Term <= 120 1 53,822.39 0.11%
168 < Rem Term <= 180 4 179,409.68 0.36%
348 < Rem Term <= 360 622 49,768,301.90 99.53%
- -------------------------------------------------------------------
Total............ 627 50,001,533.97 100.00%
===================================================================
LOAN SUMMARY STRATIFIED BY
GROSS MARGIN
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Margin Loans Balance Balance
------ ----- ------- -------
2.500 Gross Margin <= 3.000 1 83,310.49 0.17
3.500 Gross Margin <= 4.000 16 1,537,621.63 3.08
4.000 Gross Margin <= 4.500 10 771,442.72 1.54
4.500 Gross Margin <= 5.000 14 1,245,361.79 2.49
5.000 Gross Margin <= 5.500 71 6,162,542.62 12.32
5.500 Gross Margin <= 6.000 118 10,250,020.54 20.50
6.000 Gross Margin <= 6.500 117 8,764,576.61 17.53
6.500 Gross Margin <= 7.000 113 9,109,857.01 18.22
7.000 Gross Margin <= 7.500 83 6,357,225.98 12.71
7.500 Gross Margin <= 8.000 43 2,864,431.01 5.73
8.000 Gross Margin <= 8.500 26 1,797,074.20 3.59
8.500 Gross Margin <= 9.000 7 562,852.54 1.13
9.000 Gross Margin <= 9.500 5 362,401.78 0.72
9.500 Gross Margin <= 10.000 3 132,815.05 0.27
- -----------------------------------------------------------------------------
Total................. 627 $ 50,001,533.97 100.00%
=============================================================================
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 CAP
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Cap Loans Balance Balance
-------- ----- ------- -------
13.500 < LIFE CAP <= 14.000 2 82,400.92 0.16
14.000 < LIFE CAP <= 14.500 3 170,824.96 0.34
14.500 < LIFE CAP <= 15.000 16 1,568,996.19 3.14
15.000 < LIFE CAP <= 15.500 27 2,255,143.81 4.51
15.500 < LIFE CAP <= 16.000 75 6,920,269.56 13.84
16.000 < LIFE CAP <= 16.500 74 6,110,461.99 12.22
16.500 < LIFE CAP <= 17.000 98 7,881,087.57 15.76
17.000 < LIFE CAP <= 17.500 90 7,369,664.79 14.74
17.500 < LIFE CAP <= 18.000 94 7,020,817.57 14.04
18.000 < LIFE CAP <= 18.500 60 4,672,711.79 9.35
18.500 < LIFE CAP <= 19.000 53 3,865,086.00 7.73
19.000 < LIFE CAP <= 19.500 16 874,084.92 1.75
19.500 < LIFE CAP <= 20.000 11 766,704.32 1.53
20.000 < LIFE CAP <= 20.500 4 193,720.70 0.39
20.500 < LIFE CAP <= 21.000 3 219,438.15 0.44
21.000 < LIFE CAP <= 21.500 1 30,120.73 0.06
- --------------------------------------------------------------------------
Total................. 627 $50,001,533.97 100.00%
==========================================================================
NEXT INTEREST ROLLDATE DATE
Percentage
of Cut-Off
Aggregate Date
Next Number of Unpaid Aggregate
Roll Mortgage Principal Principal
Date Loans Balance Balance
---- ----- ------- -------
11/01/97 60 $4,748,017.26 09.50
12/01/97 87 $7,183,102.85 14.37
01/01/98 70 $5,653,665.67 11.31
02/01/98 44 $3,442,856.82 06.89
03/01/98 13 $1,101,149.75 02.20
04/01/98 12 $857,664.69 01.72
02/01/99 3 $323,843.78 00.65
03/01/99 1 $101,751.33 00.20
04/01/99 8 $648,193.02 01.30
05/01/99 47 $3,940,470.29 07.88
06/01/99 102 $8,326,914.43 16.65
07/01/99 88 $6,378,233.00 12.76
08/01/99 67 $5,212,139.17 10.42
09/01/99 25 $2,083,531.91 04.17
- --------------------------------------------------------------------------
Total........ 627 $50,001,533.97 100.00%
==========================================================================
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
---------- ----- ------- -------
3.000 < Life Floor <= 3.500 13 1,271,928.83 2.54
3.500 < Life Floor <= 4.000 1 109,122.62 0.22
5.000 < Life Floor <= 5.500 4 286,080.42 0.57
5.500 < Life Floor <= 6.000 9 922,401.74 1.84
6.000 < Life Floor <= 6.500 4 409,257.17 0.82
6.500 < Life Floor <= 7.000 9 918,827.64 1.84
7.000 < Life Floor <= 7.500 3 193,902.50 0.39
7.500 < Life Floor <= 8.000 5 306,624.31 0.61
8.000 < Life Floor <= 8.500 9 674,059.19 1.35
8.500 < Life Floor <= 9.000 46 4,359,269.40 8.72
9.000 < Life Floor <= 9.500 63 4,850,045.17 9.70
9.500 < Life Floor <= 10.000 100 8,001,258.50 16.00
10.000 < Life Floor <= 10.500 94 7,940,839.50 15.88
10.500 < Life Floor <= 11.000 89 6,868,689.32 13.74
11.000 < Life Floor <= 11.500 65 5,175,996.21 10.35
11.500 < Life Floor <= 12.000 62 4,656,813.17 9.31
12.000 < Life Floor <= 12.500 27 1,517,914.92 3.04
12.500 < Life Floor <= 13.000 17 1,143,836.74 2.29
13.000 < Life Floor <= 13.500 3 129,220.70 0.26
13.500 < Life Floor <= 14.000 1 108,425.19 0.22
14.000 < Life Floor <= 14.500 2 94,620.73 0.19
14.500 < Life Floor <= 15.000 1 62,400.00 0.12
- --------------------------------------------------------------------------
Total................. 627 $ 50,001,533.97 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
----- ------- -------
Owner Occ. 583 46,998,626.03 93.99
Second Home 4 222,047.40 0.44
Non Owner Occ. 40 2,780,860.54 5.56
- --------------------------------------------------------------------------
Total.................. 627 $ 50,001,533.97 100.00%
==========================================================================
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
----- ------- -------
Single-family 570 45,641,282.04 91.28
Duplex 17 1,079,075.98 2.16
Modular Housing 2 131,702.70 0.26
Manufactured Housing 1 115,810.81 0.23
SF Row House 2 82,404.64 0.16
Townhouses 7 556,790.68 1.11
Condominiums 26 2,225,967.12 4.45
2-4 Family 2 168,500.00 0.34
- --------------------------------------------------------------------------
Total............... 627 $ 50,001,533.97 100.00%
==========================================================================
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>
- --------------------------------------------------------------------------------
- ACCESS
- Cut Off Date of Tape is 10/1/97
- GROUP III
- $67,550,309.04
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 800
Aggregate Unpaid Principal Balance: $67,550,309.04
Aggregate Original Principal Balance: $67,630,637.00
- --------------------------------------------------------------------------------
Weighted Average Coupon (Gross): 10.408%
Gross Coupon Range: 7.680% - 14.850%
Weighted Average Margin (Gross): 6.450%
Gross Margin Range: 3.750% - 10.350%
Weighted Average Life Cap (Gross): 17.082%
Gross Life Cap Range: 13.850% - 20.870%
Weighted Average Life Floor (Gross): 10.050%
Gross Life Floor Range: 3.250% - 14.850%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $84,437.89
Average Original Principal Balance: $84,538.30
Maximum Unpaid Principal Balance: $400,000.00
Minimum Unpaid Principal Balance: $15,000.00
Maximum Original Principal Balance: $400,000.00
Minimum Original Principal Balance: $15,000.00
Weighted Avg. Stated Rem. Term (PTD to Mat Date): 356.466
Stated Rem Term Range: 175.000 - 360.000
Weighted Average Age (First Pay thru Paid Thru): 2.666
Age Range: 0.000 - 11.000
Weighted Average Original Term: 359.132
Original Term Range: 180.000 - 360.000
Weighted Average Combined LTV: 77.489
Combined LTV Range: 19.000% - 90.000%
Weighted Average Periodic Interest Cap: 1.022%
Periodic Interest Cap Range: 1.000% - 2.000%
Weighted Average Months to Interest Roll: 12.445
* calculated from 10/97 to next rolldate
Months to Interest Roll Range: 1 - 32
Weighted Average Interest Roll Frequency: 6.000
Interest Frequency Range: 6 - 6
- --------------------------------------------------------------------------------
All First Liens
Greatest Zip Code Concentration:
92128 ll loans 1.61% $1,087,517.78
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 2 208,848.74 0.31
AL 3 205,004.27 0.30
AZ 3 270,728.71 0.40
CA 19 2,696,817.13 3.99
CO 25 3,413,364.50 5.05
CT 3 542,336.65 0.80
DC 1 128,000.00 0.19
DE 1 69,594.72 0.10
FL 22 1,963,940.87 2.91
GA 3 206,866.15 0.31
IA 14 781,132.82 1.16
ID 4 330,960.38 0.49
IL 70 6,255,526.29 9.26
IN 6 426,132.21 0.63
KS 8 673,757.38 1.00
LA 1 92,773.17 0.14
MA 7 931,512.05 1.38
MD 16 1,923,453.82 2.85
MI 200 15,248,102.10 22.57
MN 85 6,966,568.79 10.31
MO 9 621,901.22 0.92
MT 3 213,308.63 0.32
NC 20 1,345,686.93 1.99
ND 1 36,610.74 0.05
NE 1 70,400.00 0.10
NH 1 90,000.00 0.13
NJ 12 1,175,088.24 1.74
NM 1 54,982.99 0.08
NV 2 244,719.19 0.36
NY 2 242,000.00 0.36
OH 47 2,999,530.24 4.44
OK 5 417,009.52 0.62
OR 11 1,167,396.19 1.73
PA 23 1,500,465.32 2.22
RI 8 908,582.25 1.35
SC 3 170,189.84 0.25
TN 8 487,616.42 0.72
TX 24 2,408,075.74 3.56
UT 21 2,018,232.00 2.99
VA 5 533,131.54 0.79
WA 16 1,728,339.49 2.56
WI 83 5,712,591.80 8.46
WY 1 69,030.00 0.10
- --------------------------------------------------------------------------
Total............... 800 $ 67,550,309.04 100.00%
==========================================================================
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-TO-VALUE RATIOS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
----- ----- ------- -------
15.000 < LTV<= 20.000 1 49,271.41 0.07
20.000 < LTV<= 25.000 2 37,487.83 0.06
25.000 < LTV<= 30.000 1 26,905.57 0.04
30.000 < LTV<= 35.000 2 160,000.00 0.24
35.000 < LTV<= 40.000 2 38,389.35 0.06
40.000 < LTV<= 45.000 11 577,851.94 0.86
45.000 < LTV<= 50.000 12 1,022,610.53 1.51
50.000 < LTV<= 55.000 18 928,895.08 1.38
55.000 < LTV<= 60.000 27 1,495,887.23 2.21
60.000 < LTV<= 65.000 44 2,871,354.68 4.25
65.000 < LTV<= 70.000 83 6,784,731.79 10.04
70.000 < LTV<= 75.000 119 10,187,424.78 15.08
75.000 < LTV<= 80.000 275 23,356,800.58 34.58
80.000 < LTV<= 85.000 112 10,854,287.68 16.07
85.000 < LTV<= 90.000 91 9,158,410.59 13.56
- --------------------------------------------------------------------------
Total.................... 800 $ 67,550,309.04 100.00%
==========================================================================
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
----- ----- ------- -------
7.50% < Gross Coupon <= 8.00% 6 897,442.36 1.33
8.00% < Gross Coupon <= 8.50% 15 1,557,585.08 2.31
8.50% < Gross Coupon <= 9.00% 44 5,027,109.29 7.44
9.00% < Gross Coupon <= 9.50% 87 8,642,712.19 12.79
9.50% < Gross Coupon <= 10.00% 128 11,395,399.35 16.87
10.00% < Gross Coupon <= 10.50% 117 10,009,566.00 14.82
10.50% < Gross Coupon <= 11.00% 151 12,407,940.98 18.37
11.00% < Gross Coupon <= 11.50% 81 6,567,795.01 9.72
11.50% < Gross Coupon <= 12.00% 75 4,992,082.11 7.39
12.00% < Gross Coupon <= 12.50% 58 3,885,481.76 5.75
12.50% < Gross Coupon <= 13.00% 29 1,636,017.01 2.42
13.00% < Gross Coupon <= 13.50% 4 230,460.42 0.34
13.50% < Gross Coupon <= 14.00% 3 235,717.48 0.35
14.00% < Gross Coupon <= 14.50% 1 42,250.00 0.06
14.50% < Gross Coupon <= 15.00% 1 22,750.00 0.03
- ----------------------------------------------------------------------------
Total.......... 800 $ 67,550,309.04 100.00%
============================================================================
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 22 479,941.82 0.71
25,000 < Balance <= 50,000 169 6,737,595.23 9.97
50,000 < Balance <= 100,000 402 29,242,767.69 43.29
100,000 < Balance <= 150,000 135 16,195,745.51 23.98
150,000 < Balance <= 200,000 41 6,913,187.73 10.23
200,000 < Balance <= 250,000 18 4,033,501.62 5.97
250,000 < Balance <= 300,000 8 2,216,808.85 3.28
300,000 < Balance <= 350,000 3 970,831.39 1.44
350,000 < Balance <= 400,000 2 759,929.20 1.12
- --------------------------------------------------------------------------
Total.................... 800 $ 67,550,309.04 100.00%
==========================================================================
AGE OF LOAN
PercentAge of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
MortgAge Principal Principal
Age Loans Balance Balance
--- ----- ------- -------
Age = 0 32 2,721,525.00 4.03%
0 < Age <= 6 749 63,140,323.09 93.47%
6 < Age <= 12 19 1,688,460.95 2.50%
- -------------------------------------------------------------------
Total............ 800 67,550,309.04 100.00%
===================================================================
ARM TYPE
WA Total
# % Rem WA WA WA Current
Loan Feature Loan Pool WAC Term MARGIN LIFECAP FLOOR Balance
- ------------ ---- ---- --- ---- ------ ------- ----- -------
2/28 442 53.84 10.814 357.56 6.447 17.600 10.489 $36,369,371.58
3/27 4 .54 9.996 357.10 5.959 16.375 8.525 $366,392.16
ARM 354 45.62 9.934 355.17 6.460 16.480 9.550 $30,814,545.30
- --------------------------------------------------------------------------------
Total..... 800 100.00% 10.408 356.47 6.450 17.082 10.050 $67,550,309.04
================================================================================
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 4 307,208.81 0.45%
228 < Rem Term <= 240 1 27,855.53 0.04%
348 < Rem Term <= 360 795 67,215,244.70 99.50%
- -------------------------------------------------------------------
Total............ 800 67,550,309.04 100.00%
===================================================================
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
GROSS MARGIN
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Margin Loans Balance Balance
------ ----- ------- -------
3.500 Gross Margin <= 4.000 11 1,087,517.78 1.61
4.000 Gross Margin <= 4.500 10 1,196,780.44 1.77
4.500 Gross Margin <= 5.000 27 2,763,596.85 4.09
5.000 Gross Margin <= 5.500 58 5,732,765.89 8.49
5.500 Gross Margin <= 6.000 148 13,851,996.19 20.51
6.000 Gross Margin <= 6.500 133 11,892,563.31 17.61
6.500 Gross Margin <= 7.000 141 11,416,800.92 16.90
7.000 Gross Margin <= 7.500 122 9,584,373.28 14.19
7.500 Gross Margin <= 8.000 89 6,711,637.39 9.94
8.000 Gross Margin <= 8.500 35 1,998,116.27 2.96
8.500 Gross Margin <= 9.000 19 960,472.05 1.42
9.000 Gross Margin <= 9.500 2 83,221.19 0.12
9.500 Gross Margin <= 10.000 3 193,717.48 0.29
10.000 Gross Margin <= 10.500 2 76,750.00 0.11
- -----------------------------------------------------------------------------
Total................. 800 $ 67,550,309.04 100.00%
=============================================================================
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
-------- ----- ------- -------
13.500 < LIFE CAP <= 14.000 1 175,571.81 0.26
14.000 < LIFE CAP <= 14.500 3 308,769.68 0.46
14.500 < LIFE CAP <= 15.000 20 2,255,444.16 3.34
15.000 < LIFE CAP <= 15.500 44 4,914,786.69 7.28
15.500 < LIFE CAP <= 16.000 70 7,135,691.47 10.56
16.000 < LIFE CAP <= 16.500 82 7,468,810.03 11.06
16.500 < LIFE CAP <= 17.000 139 11,692,551.90 17.31
17.000 < LIFE CAP <= 17.500 112 9,778,092.25 14.48
17.500 < LIFE CAP <= 18.000 139 11,287,826.95 16.71
18.000 < LIFE CAP <= 18.500 65 4,501,159.46 6.66
18.500 < LIFE CAP <= 19.000 53 3,367,019.18 4.98
19.000 < LIFE CAP <= 19.500 40 2,747,159.95 4.07
19.500 < LIFE CAP <= 20.000 25 1,562,115.09 2.31
20.000 < LIFE CAP <= 20.500 5 272,710.42 0.40
20.500 < LIFE CAP <= 21.000 2 82,600.00 0.12
- --------------------------------------------------------------------------
Total................. 800 $67,550,309.04 100.00%
==========================================================================
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>
NEXT INTEREST ROLLDATE DATE
Percentage
of Cut-Off
Aggregate Date
Next Number of Unpaid Aggregate
Roll Mortgage Principal Principal
Date Loans Balance Balance
---- ----- ------- -------
06/01/00 4 $366,392.16 00.54
11/01/97 69 $6,459,805.66 09.56
12/01/97 107 $9,033,298.83 13.37
01/01/98 97 $7,878,910.90 11.66
02/01/98 57 $5,202,204.38 07.70
03/01/98 12 $1,116,252.02 01.65
04/01/98 12 $1,124,073.51 01.66
03/01/99 1 $162,969.71 00.24
04/01/99 9 $985,909.58 01.46
05/01/99 48 $4,269,541.23 06.32
06/01/99 158 $13,867,514.55 20.53
07/01/99 117 $9,050,261.08 13.40
08/01/99 86 $6,164,201.49 09.13
09/01/99 23 $1,868,973.94 02.77
- --------------------------------------------------------------------------
Total........ 800 $67,550,309.04 100.00%
==========================================================================
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
---------- ----- ------- -------
3.000 < Life Floor <= 3.500 11 1,087,517.78 1.61
4.500 < Life Floor <= 5.000 1 359,929.20 0.53
5.000 < Life Floor <= 5.500 8 666,546.45 0.99
5.500 < Life Floor <= 6.000 9 1,057,510.62 1.57
6.000 < Life Floor <= 6.500 6 601,433.55 0.89
6.500 < Life Floor <= 7.000 9 768,980.09 1.14
7.000 < Life Floor <= 7.500 9 796,888.87 1.18
7.500 < Life Floor <= 8.000 14 1,257,219.62 1.86
8.000 < Life Floor <= 8.500 16 1,600,069.03 2.37
8.500 < Life Floor <= 9.000 42 4,735,689.23 7.01
9.000 < Life Floor <= 9.500 67 6,296,769.12 9.32
9.500 < Life Floor <= 10.000 116 10,260,318.70 15.19
10.000 < Life Floor <= 10.500 108 9,351,564.34 13.84
10.500 < Life Floor <= 11.000 143 11,733,319.67 17.37
11.000 < Life Floor <= 11.500 79 6,414,495.01 9.50
11.500 < Life Floor <= 12.000 71 4,753,815.03 7.04
12.000 < Life Floor <= 12.500 56 3,771,981.76 5.58
12.500 < Life Floor <= 13.000 26 1,505,083.07 2.23
13.000 < Life Floor <= 13.500 4 230,460.42 0.34
13.500 < Life Floor <= 14.000 3 235,717.48 0.35
14.000 < Life Floor <= 14.500 1 42,250.00 0.06
14.500 < Life Floor <= 15.000 1 22,750.00 0.03
- --------------------------------------------------------------------------
Total................. 800 $ 67,550,309.04 100.00%
==========================================================================
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
OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
----- ------- -------
Owner Occ. 757 64,881,930.14 96.05
Second Home 4 298,449.13 0.44
Non Owner Occ. 39 2,369,929.77 3.51
- --------------------------------------------------------------------------
Total.................. 800 $ 67,550,309.04 100.00%
==========================================================================
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
----- ------- -------
Single-family 700 60,533,584.41 89.61
Duplex 36 2,351,686.73 3.48
Modular Housing 6 417,379.34 0.62
Manufactured Housing 7 402,594.57 0.60
PUD 1 64,876.00 0.10
SF Row House 8 451,403.98 0.67
Townhouses 11 741,148.97 1.10
Condominiums 24 2,183,826.23 3.23
2-4 Family 7 403,808.81 0.60
- --------------------------------------------------------------------------
Total............... 800 $ 67,550,309.04 100.00%
==========================================================================
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.
