<PAGE>
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) March 26, 1997
UCFC Funding Corporation
(Exact name of registrant as specified in its charter)
Louisiana 333-7939 72-1328674
(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) ID Number)
4041 Essen Lane, Baton Rouge, Louisiana 70809
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (504) 924-6007
N/A
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events
Filing of Computational Materials and Consent of Independent Accountants.*
Pursuant to Rule 424(b) under the Securities Act of 1933, as amended, UCFC
Funding Corporation (the "Depositor") is filing a prospectus and prospectus
supplement with the Securities and Exchange Commission relating to its
Manufactured Housing Contract Pass-Through Certificates, Series 1997-1.
In connection with the offering of the Manufactured Housing Contract
Pass-Through Certificates, Series 1997-1, Prudential Securities Incorporated,
the underwriter of the Offered Certificates (the "Underwriter"), has prepared
certain materials (the "Computational Materials") for distribution to its
potential investors. Although the Depositor provided the Underwriter with
certain information regarding the characteristics of the Manufactured Housing
Contracts in the related portfolio, it did not participate in the preparation of
the Computational Materials. The Computational Materials are attached hereto as
Exhibit 99.1.
- ---------------
* Capitalized terms used and not otherwise defined herein shall have the
meanings assigned to them in the Prospectus dated March 25, 1997, and
Prospectus Supplement dated March 25, 1997, of UCFC Funding Corporation,
relating to its Manufactured Housing Contract Pass-Through Certificates,
Series 1997-1.
-2-
<PAGE>
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
8.1 Opinion of Stroock & Stroock & Lavan LLP with respect to certain tax
matters.
23.1 Consent of Stroock & Stroock & Lavan LLP (included in Exhibit 8.1).
99.1 Computational Materials.
-3-
<PAGE>
SIGNATURES
Pursuant to the requirements 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.
UCFC ACCEPTANCE CORPORATION
By: /s/ H.C. McCall, III
-------------------------
Name: H. C. McCall, III
Title: President
Dated: March 26, 1997
-4-
<PAGE>
EXHIBIT INDEX
Exhibit Page
8.1 Opinion of Stroock & Stroock & Lavan LLP with respect to
certain tax matters.
23.1 Consent of Stroock & Stroock & Lavan LLP (included in
Exhibit 8.1).
99.1 Computational Materials.
-5-
<PAGE>
Exhibit 8.1
Stroock & Stroock & Lavan LLP
180 Maiden Lane
New York, New York 10038-4982
March 26, 1997
UCFC Funding Corporation
4041 Essen Lane
Baton Rouge, Louisiana 70809
RE: UCFC Funding Corporation
Registration Statement on Form S-3
(file No. 333-07939)
Ladies and Gentlemen:
We have acted as special counsel for UCFC Funding Corporation, a Louisianna
Corporation ("the Company") in connection with the issuance of $75,000,000
aggregate principal amount of UCFC MH Trust 1997-1 of Manufactured Housing
Contract Pass-through Certificates, Series 1997-1 (the "Certificates"). A
Registration Statement on Form S-3 relating to the Certificates (No. 333-7939)
(the "Registration Statement") has been filed with the Securities and Exchange
Commission under the Securities Act of 1933, as amended (the "Securities Act").
As set forth in the Prospectus dated March 25, 1997 and the Prospectus
Supplement dated March 25, 1997, the Certificates will be issued by a trust
established by the Company pursuant to the provisions of a Pooling and Servicing
Agreement dated as of March 1, 1997 (the "Pooling and Servicing Agreement")
between the Company, as Depositor, United Companies Lending Corproation, as the
Servicer, United Companies Financial Corporation, as the Guarantor, and The
First National Bank of Chicago, as the Trustee.
We have examined a form of the Pooling and Servicing Agreement, a form of the
Certificates, and a form of the Prospectus and Prospectus Supplement referred to
above. We also have examined such other documents, papers, statutes and
authorities as we have deemed necessary to form the basis for the opinions
hereinafter expressed. In our examination of such material, we have assumed the
genuineness of all signatures, the authenticity of all documents submitted to us
as originals and the conformity to original documents of copies of documents
submitted to us.
On the basis of the foregoing, we are of the opinion that the information in the
Prospectus Supplement under the caption "Federal Income Tax Considerations," and
in the Prospectus under the caption "Federal Income Tax Considerations," to the
extent that it constitutes matters of law or legal conclusions, is correct in
all material respects.
<PAGE>
This opinion is based on current provisions of the Internal Revenue Code of
1986, as amended, the Treasury regulations promulgated thereunder, and judicial
and administrative interpretations thereof.
Except as provided below, this opinion is solely for the benefit of the
addressee hereof and may not be relied upon in any manner by any other person or
entity.
We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement, to the references to us in the Prospectus Supplement,
and to the filing of this opinion as an exhibit to an application made by or on
behalf of the Company or any dealer in connection with the registration of the
Certificates under the securities or blue sky laws of any state or jurisdiction.
In giving such permission, we do not admit hereby that we come within the
category of persons whose consent is required under Section 7 of the Securities
Act or the General Rules and Regulations of the Securities and Exchange
Commission thereunder.
Very truly yours,
/s/ Stroock & Stroock & Lavan LLP
STROOCK & STROOCK & LAVAN LLP
Preliminary
Marketing Memorandum for:
$[75,000,000]
UCFC Funding Corporation
(Depositor)
Manufactured Housing Contract Pass-Through Certificates,
Series 1997-1
The information included herein is provided solely by Prudential Securities
Incorporated ("PSI") as underwriter for the transaction, and not by or as agent
for UCFC Funding Corporation or any of its affiliates (collectively, the
"Depositor"). The Depositor has not prepared, reviewed or participated in the
preparation hereof, is not responsible for the accuracy hereof and has not
authorized the dissemination hereof. The analysis in this report is accurate to
the best of PSI's knowledge and is based on information provided by the
Depositor. PSI makes no representations as to the accuracy of such information
provided by the Depositor. All opinions and conclusions 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 opinions
expressed 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. 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>
UCFC Funding Corporation
Manufactured Housing Contract Pass-Through Certificates Series 1997-1
Title of Certificates: Manufactured Housing Contract Pass-Through
Certificates, Series 1997-1
Offered Certificates: The Class A-1, Class A-2, Class A-3 and Class A-4
Certificates (collectively, the "Senior Certificates"),
the Class M and the Class B-1 Certificates.
Depositor: UCFC Funding Corporation, a Louisiana corporation.
Servicer: United Companies Lending Corporation, a Louisiana
corporation, an indirect, wholly-owned subsidiary of
United Companies Financial Corporation.
Trustee: The First National Bank of Chicago
Sole Manager: Prudential Securities Incorporated
<TABLE>
<CAPTION>
Class Class Class Class Class Class | *Class
A1 A2 A3 A4 M B1 | B2
<S> <C> <C> <C> <C> <C> <C> <C>
Amount(000): [15,100 15,600 10,100 16,950 7,125 6,187 | 3,938]
|
**Coupon: TBD TBD TBD TBD TBD TBD | n/a
|
Approx. Price: TBD TBD TBD TBD TBD TBD | n/a
|
Yield: TBD TBD TBD TBD TBD TBD | n/a
|
Spread: TBD TBD TBD TBD TBD TBD | n/a
|
Avg Life: [1.05] [3.06] [5.22] [11.67] [10.32] [7.53] | n/a
|
Avg Life: [1.05] [3.06] [5.22] [10.97] [9.78] [7.53] | n/a
To Call |
|
1st Pmt: [04/15/97] [04/15/99] [06/15/01] [12/15/03] [04/15/02] [04/15/02] | n/a
|
Exp Mat: [04/15/99] [06/15/01] [12/15/03] [01/15/18] [01/15/18] [12/15/07] | n/a
|
To 10% Call: [04/15/99] [06/15/01] [12/15/03] [07/15/11] [07/15/11] [12/15/07] | n/a
|
Final Mat: [06/15/04] [01/15/09] [09/15/13] [06/15/28] [06/15/28] [01/15/17] | n/a
|
Pymt Delay: 14 Days 14 Days 14 Days 14 Days 14 Days 14 Days | n/a
|
Dated Date: 03/1/97 03/1/97 03/1/97 03/1/97 03/1/97 03/1/97 | n/a
|
Int. Pymt: Monthly Monthly Monthly Monthly Monthly Monthly | n/a
|
1st Pymt Date: 04/15/97 04/15/97 04/15/97 04/15/97 04/15/97 04/15/97 | n/a
|
Rating: Aaa/AAA Aaa/AAA Aaa/AAA Aaa/AAA Aa3/AA- Baa2/BBB | Ba1/BBB
(Moody's/Fitch)
</TABLE>
* NOTE: THE CLASS B-2 CERTIFICATES ARE NOT BEING OFFERED **
** PAYMENT OF INTEREST EACH MONTH ON ALL CLASSES OF CERTIFICATES IS SUBJECT TO
A MAXIMUM RATE EQUAL TO THE WEIGHTED AVERAGE OF THE NET CONTRACT RATES
(DEFINED BELOW) RELATING TO SUCH REMITTANCE DATE.
Pricing Date: TBD
Closing Date: Settlement with Investors will be on or about March 31,
1997.
Cut-Off Date: The opening of business on March 1, 1997.
Prepayment Speed: [175]% MHP
Net Contract Rate: The Net Contract Rate of a Contract equals the rate of
interest then borne by such Contract minus [0.508]% per
annum (the "Expense Fee Rate")
Remittance Date: The 15th day of each month or, if such day is not a
business day, the next succeeding business day,
beginning in April, 1997.
Interest Accrual: The "Interest Accrual Period" for each Class of
Certificates will be the calendar month preceding
the month of such Remittance Date. Interest will be
calculated on the basis of a 360-day year consisting of
twelve 30-day months.
Originators: The Contracts were, and any Subsequent Contracts will
have been, originated or purchased by United Companies
Funding, Inc. ("UCFI"), United Companies or UNICOR
Mortgage, Inc. ("UNICOR," and collectively with UCFI
and United Companies, the "Originators") Each
Originator is a Louisiana corporation and an affiliate
of the Depositor.
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.
<PAGE>
UCFC Funding Corporation
Manufactured Housing Contract Pass-Through Certificates Series 1997-1
Credit Enhancement: SUBORDINATION: Expected subordination levels as a %
of the total Certificates:
Class A1-A4: Aaa/AAA 23.00%
Class M: Aa3/AA- 13.50%
Class B-1: Baa2/BBB 5.25%
EXCESS SERVICING: The Class R Certificate (not offered)
represents excess servicing on the Contracts and is the
first loss piece. The Class R Certificate is
subordinated to the Regualar Certificates on a monthly
basis.
Expected Collateral
Delivery at Closing: Approximately $[69,000,000]
Pre-Funding Account: On the Closing Date, the Trustee will establish and
thereafter maintain with itself a trust account (the
"Pre-Funding Account"). On the Closing date,
approximately $[6,000,000] in cash (the "Pre-Funded
Amount") will be deposited in the Pre-Funding Account
any may be used only to (i) acquire additional
manufactured housing installment sales contracts and
manufactured housing installment loan agreements
(collectively, the "Subsequent Contracts") and (ii)
make accelerated payments of principal on the Senior
Certificates. During the period (the "Pre-Funding
Period") from the Closing Date to the earliest to occur
of (i) the Funding Termination Date (defined below),
(ii) an Event of Default under the Agreement and (iii)
[May] 15, 1997, amounts on deposit in the Pre-Funding
Account may be withdrawn from time to time to acquire
Subsequent Contracts in accordance with the Agreement.
The "Funding Termination Date" will be the date on
which the Pre Funded amount has been reduced to less
than $100,000. Any Pre-Funded amount remaining in the
Pre-Funding Account at the end of the Pre-Funding
Period will be distributed on the Remittance Date at or
immediately following the end of such Pre- Funding
Period to the Classes of Senior Certificates then
entitled to distributions of principal.
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.
<PAGE>
UCFC Funding Corporation
Manufactured Housing Contract Pass-Through Certificates Series 1997-1
Priority of
Distrbutions: On each Remittance Date, the Trustee will distribute
out of the Certificate Account, the following amounts
in the following order of priority, in each case, to
the extent of the remaining Amount Available:
(i) to the Trustee, the Trustee Fee;
(ii) concurrently, to each Class of Senior
Certificates, the related Class Interest
Distribution Amount, any shortfall being allocated
on a pro rata basis in accordance with the
respective Class Interest Disbribution Amount for
each such Class;
(iii) sequentially to the Class A-1, Class A-2, Class
A-3 and Class A-4 Certificates, in that order, an
amount up to the Senior Principal Disbribution
Amount, until the respective Class Certificate
Balances are reduced to zero;
(iv) to the Class M Certificates, the Class Interest
Distribution Amount;
(v) to the Class M Certificates, an amount up to the
Class M Principal Distribution Amount, until the
Class M Certificate Balance is reduced to zero;
(vi) to the Class B-1 Certificates, the Class Interest
Distribution Amount;
(vii) to the Class B-1 Certificates, an amount up to
the Class B Percentage of the Formula Principal
Distribution Amount, until the Class B-1
Certificate Balance is reduced to zero;
(viii) to the Class B-2 Certificates, the Class
Interest Distribution Amount;
(ix) to the Class B-2 Certificates, an amount up to the
Class B-2 Principal Distribution Amount, until the
Class B-2 Certificate Balance is reduced to zero;
(x) [to the Guarantor of the Class B-2 Certificates,
any unreimbursed Guarantee Payments with respect
to the Class B-2 Certificates];
(xi) to the Class R Certificates, any remaining Amount
Available.
Distributions of principal of the Class M and Class B-1
Certificates will not commence until at least the
Remittance Date in April 2002 unless the aggregate
Class Certificate Balance of the Senior Certificates is
reduced to zero prior thereto. After such Remittance
Date, distributions of principal of the Class M and/or
Class B-1 Certificates will only be made if certain
performance tests are satisfied, unless the aggregate
Class Certificate Balance of the Senior Certificates,
and, in the case of the Class B-1 Certificates, the
Class Certificate Balance of the Class M Certificates
is reduced to zero.
-----------------------------------------------------
| | | | |
| A1 | A2 | A3 | A-4 |
|---------------|-------------|---------|-----------|
| | |
| | M |
|5 year lockout |_________________________________|
| | | |
| | B-1 | B-2 |
|-----------------|-----------------|---------------|
Performance Test: The Average 60-Day Delinquency Ratio is less than or
equal to 5%; the Average 30-Day Delinquency Ratio is
less than or equal to 7%; the Current Realized Loss
Ratio is less than or equal to 2.75%; and the
Cumulative Realized Losses are less than or equal to
the applicable percentage of the Aggregate Cut-off Date
Pool Principal Balance set forth below:
Remittance Date During Percentage
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~
April 1, 2002 - March 31, 2003 7%
April 1, 2003 - March 31, 2004 8%
April 1, 2004 and thereafter 9%
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.
<PAGE>
UCFC Funding Corporation
Manufactured Housing Contract Pass-Through Certificates Series 1997-1
Optional Termination: The Servicer has the option to purchase from the Trust
all remaining Contracts and all other property in the
Trust on any Remittance Date when the Pool Principal
Balance is less than 10% of the Aggregate Cut-off Date
Pool Principal Balance.
Auction Sale: If the Servicer does not exercise its optional
termination right within ninety days after the Servicer
Optional Termination Date, the Trustee will solicit
bids for the purchase of all Contracts remaining in the
Trust. In the event that satisfactory bids are received
as described in the Pooling and Servicing Agreement,
the net sale proceeds will be distributed to
Certificateholders in the same order of priority as
collections received in respect of the Contracts. If
satisfactory bids are not received, the Trustee will
not sell the Contracts and will not solicit any further
bids or otherwise negotiate any further sale of the
Contracts.
ERISA Considerations: It is believed that the Senior Certificates will be
ERISA eligible AFTER the pre-funding period. However,
investors should consult with their counsel with
respect to the consequences under ERISA and the Code of
the Plan's acquisition and ownership of such
Certificates.
The Class M and B-1 Certificates will NOT be ERISA
eligible.
SMMEA Considerations: Upon termination of the Pre-Funding Period, the Senior
Certificates and the Class M Certificates will
constitute "mortgage related securities" for purposes
of the Secondary Mortgage Market Enhancement Act of
1984 ("SMMEA") so long as they are rated in one of the
two highest rating categories by at least one
nationally recognized statistical rating organization
and, as such , will be "legal investments" for certain
types of institutional investors to the extent provided
in SMMEA.
The Class B-1 Certificates will NOT constitute
"mortgage related securities" for purposes of SMMEA.
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.
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.
<PAGE>
<TABLE>
<CAPTION>
CURRENT BALANCE: $15,100,000.00 DATED DATE: 03/01/97
COUPON: 6.535% ucfcmh71 FIRST PAYMENT: 04/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $15,100,000.00 BOND A1 PRICE-YIELD TABLE YIELD TABLE DATE: 03/31/97
PREPAYMENT SPEED
PRICING SPEED
175.0% 125.00% 150.00% 200.00% 225.00% 250.00% 275.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 6.601 6.606 6.604 6.599 6.597 6.595 6.592
99-24+ 6.585 6.593 6.589 6.582 6.578 6.574 6.570
99-25 6.569 6.580 6.575 6.564 6.559 6.553 6.548
99-25+ 6.553 6.567 6.560 6.546 6.540 6.533 6.525
99-26 6.537 6.555 6.546 6.529 6.520 6.512 6.503
99-26+ 6.522 6.542 6.532 6.511 6.501 6.491 6.481
99-27 6.506 6.529 6.517 6.494 6.482 6.471 6.459
99-27+ 6.490 6.516 6.503 6.476 6.463 6.450 6.437
99-28 6.474 6.503 6.488 6.459 6.444 6.429 6.414
99-28+ 6.458 6.491 6.474 6.441 6.425 6.409 6.392
99-29 6.442 6.478 6.460 6.424 6.406 6.388 6.370
99-29+ 6.426 6.465 6.445 6.406 6.387 6.367 6.348
99-30 6.410 6.452 6.431 6.389 6.368 6.347 6.325
99-30+ 6.394 6.439 6.416 6.371 6.349 6.326 6.303
99-31 6.378 6.427 6.402 6.354 6.330 6.305 6.281
99-31+ 6.362 6.414 6.388 6.336 6.311 6.285 6.259
100-00 6.346 6.401 6.373 6.319 6.292 6.264 6.237
100-00+ 6.330 6.388 6.359 6.301 6.273 6.244 6.215
100-01 6.314 6.375 6.345 6.284 6.254 6.223 6.192
100-01+ 6.298 6.363 6.330 6.266 6.235 6.202 6.170
100-02 6.282 6.350 6.316 6.249 6.215 6.182 6.148
100-02+ 6.267 6.337 6.302 6.231 6.196 6.161 6.126
100-03 6.251 6.324 6.287 6.214 6.177 6.141 6.104
100-03+ 6.235 6.312 6.273 6.197 6.158 6.120 6.082
100-04 6.219 6.299 6.259 6.179 6.139 6.100 6.060
100-04+ 6.203 6.286 6.244 6.162 6.120 6.079 6.038
100-05 6.187 6.273 6.230 6.144 6.102 6.059 6.015
100-05+ 6.171 6.261 6.216 6.127 6.083 6.038 5.993
100-06 6.155 6.248 6.201 6.109 6.064 6.018 5.971
100-06+ 6.139 6.235 6.187 6.092 6.045 5.997 5.949
100-07 6.124 6.222 6.173 6.075 6.026 5.976 5.927
100-07+ 6.108 6.210 6.158 6.057 6.007 5.956 5.905
First Payment 0.042 0.042 0.042 0.042 0.042 0.042 0.042
Average Life 1.051 1.324 1.171 0.954 0.873 0.804 0.745
Last Payment 2.042 2.542 2.208 1.875 1.708 1.542 1.458
Mod.Dur. @ 100-00 0.976 1.215 1.082 0.889 0.816 0.754 0.701
</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.
<PAGE>
<TABLE>
<CAPTION>
CURRENT BALANCE: $15,600,000.00 DATED DATE: 03/01/97
COUPON: 6.805% ucfcmh71 FIRST PAYMENT: 04/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $15,600,000.00 BOND A2 PRICE-YIELD TABLE YIELD TABLE DATE: 03/31/97
PREPAYMENT SPEED
PRICING SPEED
175.0% 125.00% 150.00% 200.00% 225.00% 250.00% 275.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 6.889 6.892 6.891 6.888 6.887 6.886 6.885
99-24+ 6.884 6.887 6.885 6.882 6.880 6.878 6.877
99-25 6.878 6.882 6.880 6.875 6.873 6.871 6.869
99-25+ 6.872 6.878 6.875 6.869 6.866 6.863 6.861
99-26 6.866 6.873 6.869 6.863 6.859 6.856 6.853
99-26+ 6.860 6.868 6.864 6.856 6.852 6.849 6.845
99-27 6.854 6.863 6.859 6.850 6.845 6.841 6.837
99-27+ 6.848 6.859 6.854 6.843 6.838 6.834 6.829
99-28 6.843 6.854 6.848 6.837 6.832 6.826 6.821
99-28+ 6.837 6.849 6.843 6.831 6.825 6.819 6.813
99-29 6.831 6.844 6.838 6.824 6.818 6.811 6.805
99-29+ 6.825 6.840 6.832 6.818 6.811 6.804 6.797
99-30 6.819 6.835 6.827 6.812 6.804 6.796 6.789
99-30+ 6.813 6.830 6.822 6.805 6.797 6.789 6.781
99-31 6.808 6.825 6.816 6.799 6.790 6.781 6.773
99-31+ 6.802 6.821 6.811 6.792 6.783 6.774 6.765
100-00 6.796 6.816 6.806 6.786 6.776 6.766 6.757
100-00+ 6.790 6.811 6.801 6.780 6.769 6.759 6.749
100-01 6.784 6.806 6.795 6.773 6.762 6.751 6.741
100-01+ 6.778 6.802 6.790 6.767 6.755 6.744 6.733
100-02 6.773 6.797 6.785 6.760 6.748 6.736 6.725
100-02+ 6.767 6.792 6.779 6.754 6.741 6.729 6.717
100-03 6.761 6.787 6.774 6.748 6.735 6.722 6.709
100-03+ 6.755 6.783 6.769 6.741 6.728 6.714 6.701
100-04 6.749 6.778 6.764 6.735 6.721 6.707 6.693
100-04+ 6.743 6.773 6.758 6.729 6.714 6.699 6.685
100-05 6.738 6.768 6.753 6.722 6.707 6.692 6.677
100-05+ 6.732 6.764 6.748 6.716 6.700 6.684 6.669
100-06 6.726 6.759 6.742 6.709 6.693 6.677 6.661
100-06+ 6.720 6.754 6.737 6.703 6.686 6.669 6.653
100-07 6.714 6.749 6.732 6.697 6.679 6.662 6.645
100-07+ 6.708 6.745 6.727 6.690 6.672 6.655 6.637
First Payment 2.042 2.542 2.208 1.875 1.708 1.542 1.458
Average Life 3.056 3.866 3.414 2.768 2.531 2.333 2.165
Last Payment 4.208 5.292 4.708 3.792 3.458 3.208 2.958
Mod.Dur. @ 100-00 2.660 3.274 2.935 2.433 2.243 2.081 1.943
</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.
<PAGE>
<TABLE>
<CAPTION>
CURRENT BALANCE: $10,100,000.00 DATED DATE: 03/01/97
COUPON: 7.050% ucfcmh71 FIRST PAYMENT: 04/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $10,100,000.00 BOND A3 PRICE-YIELD TABLE YIELD TABLE DATE: 03/31/97
PREPAYMENT SPEED
PRICING SPEED
175.0% 125.00% 150.00% 200.00% 225.00% 250.00% 275.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 7.144 7.146 7.145 7.143 7.142 7.141 7.140
99-24+ 7.140 7.143 7.142 7.139 7.137 7.136 7.135
99-25 7.136 7.140 7.139 7.134 7.133 7.131 7.129
99-25+ 7.133 7.137 7.135 7.130 7.128 7.126 7.124
99-26 7.129 7.134 7.132 7.126 7.124 7.121 7.119
99-26+ 7.125 7.131 7.129 7.122 7.119 7.117 7.114
99-27 7.122 7.128 7.125 7.118 7.115 7.112 7.109
99-27+ 7.118 7.125 7.122 7.114 7.110 7.107 7.104
99-28 7.114 7.122 7.119 7.110 7.106 7.102 7.098
99-28+ 7.111 7.119 7.116 7.106 7.101 7.097 7.093
99-29 7.107 7.116 7.112 7.102 7.097 7.092 7.088
99-29+ 7.103 7.113 7.109 7.097 7.092 7.088 7.083
99-30 7.099 7.110 7.106 7.093 7.088 7.083 7.078
99-30+ 7.096 7.107 7.103 7.089 7.083 7.078 7.073
99-31 7.092 7.104 7.099 7.085 7.079 7.073 7.067
99-31+ 7.088 7.101 7.096 7.081 7.074 7.068 7.062
100-00 7.085 7.098 7.093 7.077 7.070 7.064 7.057
100-00+ 7.081 7.096 7.090 7.073 7.066 7.059 7.052
100-01 7.077 7.093 7.086 7.069 7.061 7.054 7.047
100-01+ 7.074 7.090 7.083 7.064 7.057 7.049 7.042
100-02 7.070 7.087 7.080 7.060 7.052 7.044 7.037
100-02+ 7.066 7.084 7.077 7.056 7.048 7.040 7.031
100-03 7.063 7.081 7.073 7.052 7.043 7.035 7.026
100-03+ 7.059 7.078 7.070 7.048 7.039 7.030 7.021
100-04 7.055 7.075 7.067 7.044 7.034 7.025 7.016
100-04+ 7.051 7.072 7.063 7.040 7.030 7.020 7.011
100-05 7.048 7.069 7.060 7.036 7.025 7.016 7.006
100-05+ 7.044 7.066 7.057 7.032 7.021 7.011 7.001
100-06 7.040 7.063 7.054 7.028 7.016 7.006 6.995
100-06+ 7.037 7.060 7.050 7.023 7.012 7.001 6.990
100-07 7.033 7.057 7.047 7.019 7.007 6.996 6.985
100-07+ 7.029 7.054 7.044 7.015 7.003 6.992 6.980
First Payment 4.208 5.292 4.708 3.792 3.458 3.208 2.958
Average Life 5.215 6.872 6.081 4.583 4.149 3.813 3.526
Last Payment 6.708 8.792 7.875 5.708 4.875 4.542 4.125
Mod.Dur. @ 100-00 4.205 5.242 4.761 3.779 3.473 3.228 3.014
</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.
<PAGE>
<TABLE>
<CAPTION>
CURRENT BALANCE: $16,950,000.00 DATED DATE: 03/01/97
COUPON: 7.500% ucfcmh71 FIRST PAYMENT: 04/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $16,950,000.00 BOND A4 PRICE-YIELD TABLE YIELD TABLE DATE: 03/31/97
PREPAYMENT SPEED
*** TO CALL ***
PRICING SPEED
175.0% 125.00% 150.00% 200.00% 225.00% 250.00% 275.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 7.609 7.610 7.610 7.609 7.608 7.607 7.606
99-24+ 7.607 7.608 7.608 7.606 7.605 7.604 7.603
99-25 7.605 7.607 7.606 7.604 7.603 7.601 7.600
99-25+ 7.603 7.605 7.604 7.602 7.600 7.599 7.597
99-26 7.601 7.603 7.602 7.599 7.598 7.596 7.594
99-26+ 7.598 7.601 7.600 7.597 7.595 7.593 7.591
99-27 7.596 7.599 7.598 7.594 7.592 7.590 7.588
99-27+ 7.594 7.597 7.596 7.592 7.590 7.587 7.585
99-28 7.592 7.595 7.594 7.590 7.587 7.585 7.582
99-28+ 7.590 7.593 7.592 7.587 7.585 7.582 7.579
99-29 7.587 7.591 7.589 7.585 7.582 7.579 7.576
99-29+ 7.585 7.589 7.587 7.583 7.580 7.576 7.573
99-30 7.583 7.587 7.585 7.580 7.577 7.573 7.570
99-30+ 7.581 7.585 7.583 7.578 7.575 7.571 7.567
99-31 7.579 7.583 7.581 7.576 7.572 7.568 7.564
99-31+ 7.576 7.581 7.579 7.573 7.569 7.565 7.560
100-00 7.574 7.579 7.577 7.571 7.567 7.562 7.557
100-00+ 7.572 7.578 7.575 7.569 7.564 7.560 7.554
100-01 7.570 7.576 7.573 7.566 7.562 7.557 7.551
100-01+ 7.568 7.574 7.571 7.564 7.559 7.554 7.548
100-02 7.566 7.572 7.569 7.561 7.557 7.551 7.545
100-02+ 7.563 7.570 7.567 7.559 7.554 7.548 7.542
100-03 7.561 7.568 7.565 7.557 7.552 7.546 7.539
100-03+ 7.559 7.566 7.563 7.554 7.549 7.543 7.536
100-04 7.557 7.564 7.561 7.552 7.546 7.540 7.533
100-04+ 7.555 7.562 7.559 7.550 7.544 7.537 7.530
100-05 7.552 7.560 7.557 7.547 7.541 7.535 7.527
100-05+ 7.550 7.558 7.555 7.545 7.539 7.532 7.524
100-06 7.548 7.556 7.553 7.543 7.536 7.529 7.521
100-06+ 7.546 7.554 7.551 7.540 7.534 7.526 7.518
100-07 7.544 7.553 7.549 7.538 7.531 7.523 7.515
100-07+ 7.542 7.551 7.547 7.536 7.529 7.521 7.512
First Payment 6.708 8.792 7.875 5.708 4.875 4.542 4.125
Average Life 10.970 13.411 12.211 9.836 8.781 7.822 6.997
Last Payment 14.292 16.875 15.458 13.292 12.375 11.458 10.708
Mod.Dur. @ 100-00 7.107 8.061 7.620 6.595 6.080 5.585 5.136
</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.
<PAGE>
<TABLE>
<CAPTION>
CURRENT BALANCE: $7,125,000.00 DATED DATE: 03/01/97
COUPON: 7.650% ucfcmh71 FIRST PAYMENT: 04/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $7,125,000.00 BOND M PRICE-YIELD TABLE YIELD TABLE DATE: 03/31/97
PREPAYMENT SPEED
*** TO CALL ***
PRICING SPEED
175.0% 125.00% 150.00% 200.00% 225.00% 250.00% 275.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 7.762 7.763 7.763 7.762 7.762 7.761 7.761
99-24+ 7.760 7.761 7.760 7.759 7.759 7.759 7.758
99-25 7.757 7.759 7.758 7.757 7.757 7.756 7.756
99-25+ 7.755 7.757 7.756 7.755 7.754 7.753 7.753
99-26 7.753 7.754 7.753 7.752 7.751 7.751 7.750
99-26+ 7.750 7.752 7.751 7.750 7.749 7.748 7.748
99-27 7.748 7.750 7.749 7.747 7.746 7.746 7.745
99-27+ 7.745 7.748 7.746 7.745 7.744 7.743 7.742
99-28 7.743 7.746 7.744 7.742 7.741 7.740 7.740
99-28+ 7.741 7.743 7.742 7.740 7.739 7.738 7.737
99-29 7.738 7.741 7.739 7.737 7.736 7.735 7.734
99-29+ 7.736 7.739 7.737 7.735 7.734 7.733 7.732
99-30 7.733 7.737 7.735 7.732 7.731 7.730 7.729
99-30+ 7.731 7.735 7.732 7.730 7.729 7.727 7.726
99-31 7.729 7.732 7.730 7.727 7.726 7.725 7.723
99-31+ 7.726 7.730 7.728 7.725 7.724 7.722 7.721
100-00 7.724 7.728 7.725 7.722 7.721 7.720 7.718
100-00+ 7.721 7.726 7.723 7.720 7.718 7.717 7.715
100-01 7.719 7.724 7.721 7.717 7.716 7.714 7.713
100-01+ 7.717 7.722 7.718 7.715 7.713 7.712 7.710
100-02 7.714 7.719 7.716 7.713 7.711 7.709 7.707
100-02+ 7.712 7.717 7.714 7.710 7.708 7.706 7.705
100-03 7.709 7.715 7.711 7.708 7.706 7.704 7.702
100-03+ 7.707 7.713 7.709 7.705 7.703 7.701 7.699
100-04 7.705 7.711 7.707 7.703 7.701 7.699 7.697
100-04+ 7.702 7.708 7.704 7.700 7.698 7.696 7.694
100-05 7.700 7.706 7.702 7.698 7.696 7.693 7.691
100-05+ 7.697 7.704 7.700 7.695 7.693 7.691 7.689
100-06 7.695 7.702 7.697 7.693 7.691 7.688 7.686
100-06+ 7.693 7.700 7.695 7.690 7.688 7.686 7.683
100-07 7.690 7.697 7.693 7.688 7.685 7.683 7.681
100-07+ 7.688 7.695 7.690 7.685 7.683 7.680 7.678
First Payment 5.042 5.625 5.042 5.042 5.042 5.042 5.042
Average Life 9.782 11.310 10.299 9.330 8.924 8.538 8.206
Last Payment 14.292 16.875 15.458 13.292 12.375 11.458 10.708
Mod.Dur. @ 100-00 6.469 7.084 6.669 6.286 6.116 5.948 5.797
</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.
<PAGE>
<TABLE>
<CAPTION>
CURRENT BALANCE: $6,187,000.00 DATED DATE: 03/01/97
COUPON: 7.755% ucfcmh71 FIRST PAYMENT: 04/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $6,187,000.00 BOND B1 PRICE-YIELD TABLE YIELD TABLE DATE: 03/31/97
PREPAYMENT SPEED
PRICING SPEED
175.0% 125.00% 150.00% 200.00% 225.00% 250.00% 275.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 7.868 7.869 7.868 7.868 7.867 7.867 7.867
99-24+ 7.865 7.867 7.865 7.865 7.864 7.864 7.864
99-25 7.862 7.864 7.863 7.862 7.861 7.861 7.861
99-25+ 7.859 7.861 7.860 7.859 7.858 7.858 7.858
99-26 7.856 7.859 7.857 7.856 7.855 7.855 7.855
99-26+ 7.854 7.856 7.854 7.853 7.852 7.852 7.851
99-27 7.851 7.854 7.851 7.850 7.849 7.849 7.848
99-27+ 7.848 7.851 7.849 7.847 7.846 7.846 7.845
99-28 7.845 7.848 7.846 7.844 7.843 7.843 7.842
99-28+ 7.842 7.846 7.843 7.841 7.841 7.840 7.839
99-29 7.839 7.843 7.840 7.838 7.838 7.837 7.836
99-29+ 7.836 7.841 7.838 7.835 7.835 7.834 7.833
99-30 7.834 7.838 7.835 7.833 7.832 7.831 7.830
99-30+ 7.831 7.835 7.832 7.830 7.829 7.828 7.827
99-31 7.828 7.833 7.829 7.827 7.826 7.825 7.824
99-31+ 7.825 7.830 7.826 7.824 7.823 7.822 7.821
100-00 7.822 7.828 7.824 7.821 7.820 7.819 7.818
100-00+ 7.819 7.825 7.821 7.818 7.817 7.816 7.815
100-01 7.816 7.823 7.818 7.815 7.814 7.813 7.811
100-01+ 7.814 7.820 7.815 7.812 7.811 7.810 7.808
100-02 7.811 7.817 7.813 7.809 7.808 7.807 7.805
100-02+ 7.808 7.815 7.810 7.806 7.805 7.804 7.802
100-03 7.805 7.812 7.807 7.803 7.802 7.800 7.799
100-03+ 7.802 7.810 7.804 7.800 7.799 7.797 7.796
100-04 7.799 7.807 7.801 7.798 7.796 7.794 7.793
100-04+ 7.797 7.804 7.799 7.795 7.793 7.791 7.790
100-05 7.794 7.802 7.796 7.792 7.790 7.788 7.787
100-05+ 7.791 7.799 7.793 7.789 7.787 7.785 7.784
100-06 7.788 7.797 7.790 7.786 7.784 7.782 7.781
100-06+ 7.785 7.794 7.788 7.783 7.781 7.779 7.778
100-07 7.782 7.792 7.785 7.780 7.778 7.776 7.775
100-07+ 7.779 7.789 7.782 7.777 7.775 7.773 7.772
First Payment 5.042 5.625 5.042 5.042 5.042 5.042 5.042
Average Life 7.534 8.648 7.809 7.302 7.104 6.934 6.785
Last Payment 10.708 12.375 11.292 10.208 9.792 9.458 9.125
Mod.Dur. @ 100-00 5.445 6.004 5.581 5.327 5.224 5.134 5.055
</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.
<PAGE>
<TABLE>
<CAPTION>
CURRENT BALANCE: $16,950,000.00 DATED DATE: 03/01/97
COUPON: 7.500% ucfcmh71 FIRST PAYMENT: 04/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $16,950,000.00 BOND A4 PRICE-YIELD TABLE YIELD TABLE DATE: 03/31/97
PREPAYMENT SPEED
*** TO MATURITY ***
PRICING SPEED
175.0% 125.00% 150.00% 200.00% 225.00% 250.00% 275.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 7.610 7.611 7.610 7.609 7.608 7.607 7.606
99-24+ 7.607 7.609 7.608 7.607 7.606 7.605 7.603
99-25 7.605 7.607 7.606 7.604 7.603 7.602 7.600
99-25+ 7.603 7.605 7.604 7.602 7.601 7.599 7.598
99-26 7.601 7.603 7.602 7.600 7.598 7.596 7.595
99-26+ 7.599 7.601 7.600 7.597 7.596 7.594 7.592
99-27 7.597 7.599 7.598 7.595 7.593 7.591 7.589
99-27+ 7.595 7.597 7.596 7.593 7.591 7.588 7.586
99-28 7.593 7.595 7.594 7.591 7.588 7.586 7.583
99-28+ 7.590 7.594 7.592 7.588 7.586 7.583 7.580
99-29 7.588 7.592 7.590 7.586 7.583 7.580 7.577
99-29+ 7.586 7.590 7.588 7.584 7.581 7.578 7.574
99-30 7.584 7.588 7.586 7.581 7.578 7.575 7.571
99-30+ 7.582 7.586 7.584 7.579 7.576 7.572 7.568
99-31 7.580 7.584 7.582 7.577 7.573 7.570 7.565
99-31+ 7.578 7.582 7.580 7.575 7.571 7.567 7.562
100-00 7.576 7.580 7.578 7.572 7.568 7.564 7.559
100-00+ 7.573 7.578 7.576 7.570 7.566 7.561 7.557
100-01 7.571 7.577 7.574 7.568 7.564 7.559 7.554
100-01+ 7.569 7.575 7.572 7.565 7.561 7.556 7.551
100-02 7.567 7.573 7.570 7.563 7.559 7.553 7.548
100-02+ 7.565 7.571 7.568 7.561 7.556 7.551 7.545
100-03 7.563 7.569 7.566 7.559 7.554 7.548 7.542
100-03+ 7.561 7.567 7.564 7.556 7.551 7.545 7.539
100-04 7.559 7.565 7.562 7.554 7.549 7.543 7.536
100-04+ 7.556 7.563 7.560 7.552 7.546 7.540 7.533
100-05 7.554 7.561 7.558 7.549 7.544 7.537 7.530
100-05+ 7.552 7.560 7.556 7.547 7.541 7.535 7.527
100-06 7.550 7.558 7.554 7.545 7.539 7.532 7.524
100-06+ 7.548 7.556 7.552 7.543 7.536 7.529 7.521
100-07 7.546 7.554 7.551 7.540 7.534 7.527 7.519
100-07+ 7.544 7.552 7.549 7.538 7.531 7.524 7.516
First Payment 6.708 8.792 7.875 5.708 4.875 4.542 4.125
Average Life 11.665 14.107 12.946 10.472 9.352 8.341 7.444
Last Payment 20.792 23.458 22.042 19.625 18.625 17.625 16.625
Mod.Dur. @ 100-00 7.309 8.228 7.815 6.794 6.272 5.772 5.307
</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.
<PAGE>
<TABLE>
<CAPTION>
CURRENT BALANCE: $7,125,000.00 DATED DATE: 03/01/97
COUPON: 7.650% ucfcmh71 FIRST PAYMENT: 04/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $7,125,000.00 BOND M PRICE-YIELD TABLE YIELD TABLE DATE: 03/31/97
PREPAYMENT SPEED
*** TO MATURITY ***
PRICING SPEED
175.0% 125.00% 150.00% 200.00% 225.00% 250.00% 275.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 7.763 7.763 7.763 7.762 7.762 7.762 7.762
99-24+ 7.760 7.761 7.761 7.760 7.760 7.759 7.759
99-25 7.758 7.759 7.758 7.757 7.757 7.757 7.756
99-25+ 7.755 7.757 7.756 7.755 7.755 7.754 7.754
99-26 7.753 7.755 7.754 7.753 7.752 7.752 7.751
99-26+ 7.751 7.753 7.751 7.750 7.750 7.749 7.749
99-27 7.748 7.750 7.749 7.748 7.747 7.747 7.746
99-27+ 7.746 7.748 7.747 7.745 7.745 7.744 7.744
99-28 7.744 7.746 7.744 7.743 7.742 7.742 7.741
99-28+ 7.741 7.744 7.742 7.741 7.740 7.739 7.738
99-29 7.739 7.742 7.740 7.738 7.737 7.737 7.736
99-29+ 7.737 7.740 7.738 7.736 7.735 7.734 7.733
99-30 7.734 7.737 7.735 7.733 7.732 7.732 7.731
99-30+ 7.732 7.735 7.733 7.731 7.730 7.729 7.728
99-31 7.730 7.733 7.731 7.729 7.727 7.726 7.726
99-31+ 7.727 7.731 7.728 7.726 7.725 7.724 7.723
100-00 7.725 7.729 7.726 7.724 7.723 7.721 7.720
100-00+ 7.723 7.727 7.724 7.721 7.720 7.719 7.718
100-01 7.720 7.724 7.722 7.719 7.718 7.716 7.715
100-01+ 7.718 7.722 7.719 7.717 7.715 7.714 7.713
100-02 7.716 7.720 7.717 7.714 7.713 7.711 7.710
100-02+ 7.713 7.718 7.715 7.712 7.710 7.709 7.708
100-03 7.711 7.716 7.712 7.709 7.708 7.706 7.705
100-03+ 7.709 7.714 7.710 7.707 7.705 7.704 7.702
100-04 7.706 7.711 7.708 7.705 7.703 7.701 7.700
100-04+ 7.704 7.709 7.706 7.702 7.700 7.699 7.697
100-05 7.702 7.707 7.703 7.700 7.698 7.696 7.695
100-05+ 7.699 7.705 7.701 7.697 7.696 7.694 7.692
100-06 7.697 7.703 7.699 7.695 7.693 7.691 7.690
100-06+ 7.694 7.701 7.697 7.693 7.691 7.689 7.687
100-07 7.692 7.699 7.694 7.690 7.688 7.686 7.685
100-07+ 7.690 7.696 7.692 7.688 7.686 7.684 7.682
First Payment 5.042 5.625 5.042 5.042 5.042 5.042 5.042
Average Life 10.316 11.773 10.794 9.894 9.516 9.178 8.875
Last Payment 20.792 23.458 22.042 19.625 18.625 17.625 16.625
Mod.Dur. @ 100-00 6.620 7.192 6.797 6.458 6.310 6.174 6.048
</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.
<PAGE>
- --------------------------------------------------------------------------------
- UCFCMH71
- Cut Off Date of Tape is 3/1/97
- FIX
- $59,173,900.02
- Mortgage Summary Report
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 1,830
Aggregate Unpaid Principal Balance: $59,173,900.02
Aggregate Original Principal Balance: $59,287,291.27
Weighted Average Gross Coupon: 11.063%
Gross Coupon Range: 8.250% - 16.000%
Average Unpaid Principal Balance: $32,335.46
Average Original Principal Balance: $32,397.43
Maximum Unpaid Principal Balance: $113,459.84
Minimum Unpaid Principal Balance: $4,843.27
Maximum Original Principal Balance: $113,600.00
Minimum Original Principal Balance: $5,000.00
Weighted Avg. Stated Rem. Term
(PTD to Mat Date): 245.325
Stated Rem Term Range: 33.000 - 360.000
Weighted Avg. Amortized Rem. Term: 245.322
Amortized Rem Term Range: 33.491 - 360.050
Weighted Average Age (First Pay
thru Paid Thru Date): 1.010
Age Range: 0.000 - 87.000
Weighted Average Original Term: 246.335
Original Term Range: 36.000 - 360.000
Weighted Average Original LTV: 82.893
Original LTV Range: 18.543% - 100.002%
Weighted Average Current LTV: 82.764
Current LTV Range: 15.438% - 100.002%
Weighted Average Debt to Income: 34.889
Debt to Income Range: 3.000% - 109.000%
- --------------------------------------------------------------------------------
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.
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
AL 5 123,664.66 0.21
AR 12 388,404.83 0.66
AZ 6 303,923.78 0.51
CA 15 433,518.38 0.73
CO 17 562,209.12 0.95
CT 1 16,500.00 0.03
DE 3 101,945.92 0.17
FL 192 6,325,028.89 10.69
GA 169 5,553,141.58 9.38
IA 4 135,939.92 0.23
ID 2 107,900.00 0.18
IL 5 188,961.96 0.32
IN 18 440,977.62 0.75
KS 1 58,900.00 0.10
KY 14 547,441.60 0.93
LA 116 3,157,262.62 5.34
MD 2 69,187.19 0.12
ME 1 45,366.07 0.08
MI 36 1,148,756.70 1.94
MN 28 777,152.09 1.31
MO 3 126,100.00 0.21
MS 21 594,333.49 1.00
NC 349 11,154,564.87 18.85
NH 2 90,746.33 0.15
NM 31 1,061,033.56 1.79
NY 8 377,543.36 0.64
OH 11 399,625.03 0.68
OK 10 308,978.61 0.52
OR 7 383,103.85 0.65
PA 29 838,601.67 1.42
SC 323 10,350,228.20 17.49
TN 42 1,422,685.42 2.40
TX 313 10,429,004.00 17.62
UT 1 51,979.11 0.09
VA 14 390,911.14 0.66
WA 3 189,703.63 0.32
WI 3 80,575.67 0.14
WV 13 437,999.15 0.74
- --------------------------------------------------------------------------
Total............... 1830 $ 59,173,900.02 100.00%
==========================================================================
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 <= 5,000 8 39,500.36 0.07
5,000 < Balance <= 10,000 68 512,716.16 0.87
10,000 < Balance <= 15,000 150 1,865,145.02 3.15
15,000 < Balance <= 20,000 160 2,820,351.31 4.77
20,000 < Balance <= 25,000 246 5,533,232.28 9.35
25,000 < Balance <= 30,000 304 8,320,208.09 14.06
30,000 < Balance <= 35,000 199 6,480,993.69 10.95
35,000 < Balance <= 40,000 201 7,524,745.62 12.72
40,000 < Balance <= 45,000 129 5,479,910.54 9.26
45,000 < Balance <= 50,000 122 5,797,369.49 9.80
50,000 < Balance <= 55,000 83 4,353,394.16 7.36
55,000 < Balance <= 60,000 62 3,558,860.82 6.01
60,000 < Balance <= 65,000 38 2,388,623.28 4.04
65,000 < Balance <= 70,000 24 1,614,677.66 2.73
70,000 < Balance <= 75,000 16 1,161,566.59 1.96
75,000 < Balance <= 80,000 7 539,425.40 0.91
80,000 < Balance <= 85,000 8 665,444.75 1.12
90,000 < Balance <= 95,000 1 91,219.50 0.15
100,000 < Balance <= 150,000 4 426,515.30 0.72
- --------------------------------------------------------------------------
Total.................... 1830 $ 59,173,900.02 100.00%
==========================================================================
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.
<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 <= 8.25% 22 1,213,475.12 2.05
8.25% < Gross Coupon <= 8.50% 28 1,426,529.02 2.41
8.50% < Gross Coupon <= 8.75% 8 390,742.21 0.66
8.75% < Gross Coupon <= 9.00% 24 1,277,215.36 2.16
9.00% < Gross Coupon <= 9.25% 23 1,346,736.36 2.28
9.25% < Gross Coupon <= 9.50% 18 849,951.38 1.44
9.50% < Gross Coupon <= 9.75% 18 675,720.68 1.14
9.75% < Gross Coupon <= 10.00% 73 2,974,997.16 5.03
10.00% < Gross Coupon <= 10.25% 93 3,946,763.76 6.67
10.25% < Gross Coupon <= 10.50% 261 10,011,921.16 16.92
10.50% < Gross Coupon <= 10.75% 180 5,260,058.89 8.89
10.75% < Gross Coupon <= 11.00% 258 7,680,918.03 12.98
11.00% < Gross Coupon <= 11.25% 94 2,633,670.79 4.45
11.25% < Gross Coupon <= 11.50% 61 1,929,444.61 3.26
11.50% < Gross Coupon <= 11.75% 93 2,312,170.94 3.91
11.75% < Gross Coupon <= 12.00% 99 2,593,310.07 4.38
12.00% < Gross Coupon <= 12.25% 115 2,445,290.57 4.13
12.25% < Gross Coupon <= 12.50% 71 2,728,424.04 4.61
12.50% < Gross Coupon <= 12.75% 92 2,033,065.55 3.44
12.75% < Gross Coupon <= 13.00% 18 412,432.52 0.70
13.00% < Gross Coupon <= 13.25% 62 2,171,767.23 3.67
13.25% < Gross Coupon <= 13.50% 15 594,049.27 1.00
13.50% < Gross Coupon <= 13.75% 12 320,676.03 0.54
13.75% < Gross Coupon <= 14.00% 10 224,184.32 0.38
14.00% < Gross Coupon <= 14.25% 3 56,333.42 0.10
14.25% < Gross Coupon <= 14.50% 18 441,472.24 0.75
14.50% < Gross Coupon <= 14.75% 30 541,627.45 0.92
14.75% < Gross Coupon <= 15.00% 2 30,700.00 0.05
15.00% < Gross Coupon <= 15.25% 28 643,845.06 1.09
15.75% < Gross Coupon <= 16.00% 1 6,406.78 0.01
- ----------------------------------------------------------------------------
Total.......... 1830 $ 59,173,900.02 100.00%
============================================================================
REMAINING MONTHS TO STATED MATURITY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
24 < Rem Term <= 36 1 8,304.19 0.01%
36 < Rem Term <= 48 2 27,906.78 0.05%
48 < Rem Term <= 60 58 472,272.48 0.80%
60 < Rem Term <= 72 6 52,833.63 0.09%
72 < Rem Term <= 84 49 595,751.06 1.01%
84 < Rem Term <= 96 5 65,566.39 0.11%
96 < Rem Term <= 108 1 17,931.71 0.03%
108 < Rem Term <= 120 173 3,347,131.97 5.66%
120 < Rem Term <= 132 1 24,660.92 0.04%
132 < Rem Term <= 144 155 3,979,283.57 6.72%
144 < Rem Term <= 156 1 35,000.00 0.06%
156 < Rem Term <= 168 2 82,150.91 0.14%
168 < Rem Term <= 180 397 11,793,461.82 19.93%
180 < Rem Term <= 192 1 15,607.93 0.03%
216 < Rem Term <= 228 4 184,253.60 0.31%
228 < Rem Term <= 240 463 15,956,491.43 26.97%
276 < Rem Term <= 288 1 53,491.11 0.09%
288 < Rem Term <= 300 268 10,366,103.20 17.52%
336 < Rem Term <= 348 3 174,925.31 0.30%
348 < Rem Term <= 360 239 11,920,772.01 20.15%
- -------------------------------------------------------------------
Total............ 1,830 59,173,900.02 100.00%
===================================================================
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.
<PAGE>
ORIGINAL TERM
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Original Term Loans Balance Balance
24 < Orig. Term <= 36 1 8,304.19 0.01%
36 < Orig. Term <= 48 1 21,500.00 0.04%
48 < Orig. Term <= 60 58 472,272.48 0.80%
60 < Orig. Term <= 72 6 52,833.63 0.09%
72 < Orig. Term <= 84 49 595,751.06 1.01%
84 < Orig. Term <= 96 3 37,069.90 0.06%
108 < Orig. Term <= 120 173 3,308,172.68 5.59%
132 < Orig. Term <= 144 157 4,040,496.18 6.83%
144 < Orig. Term <= 156 1 35,000.00 0.06%
168 < Orig. Term <= 180 402 11,930,855.31 20.16%
228 < Orig. Term <= 240 468 16,156,352.96 27.30%
288 < Orig. Term <= 300 269 10,419,594.31 17.61%
348 < Orig. Term <= 360 242 12,095,697.32 20.44%
- --------------------------------------------------------------------------
Total............ 1,830 59,173,900.02 100.00%
==========================================================================
AGE IN MONTHS
-------------------------------------------------------------------------
Aggregate Percent of
Unpaid Aggregate
Number of Percent of Principal Principal
Age Loans Loan Count Balance Balance
0 < Age <= 6 1,794 98.03 57,868,782.27 97.79
6 < Age <= 12 20 1.09 731,751.55 1.24
12 < Age <= 18 6 .33 275,398.95 .47
18 < Age <= 24 3 .16 159,497.35 .27
24 < Age <= 30 1 .05 45,366.07 .08
48 < Age <= 54 2 .11 31,454.47 .05
54 < Age <= 60 1 .05 24,660.92 .04
72 < Age <= 78 1 .05 17,931.71 .03
78 < Age <= 84 1 .05 6,406.78 .01
84 < Age <= 90 1 .05 12,649.95 .02
- --------------------------------------------------------------------------
Total............. 1,830 100.00% 59,173,900.02 100.00%
==========================================================================
ORIGINAL LOAN-TO-VALUE RATIOS
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
15.000 < LTV <= 20.000 1 5,000.00 0.01
20.000 < LTV <= 25.000 4 33,293.13 0.06
25.000 < LTV <= 30.000 14 145,217.73 0.25
30.000 < LTV <= 35.000 10 121,815.63 0.21
35.000 < LTV <= 40.000 13 149,962.08 0.25
40.000 < LTV <= 45.000 19 329,055.58 0.56
45.000 < LTV <= 50.000 30 469,829.03 0.79
50.000 < LTV <= 55.000 33 648,918.77 1.10
55.000 < LTV <= 60.000 49 1,056,640.57 1.79
60.000 < LTV <= 65.000 72 1,860,986.65 3.14
65.000 < LTV <= 70.000 115 3,150,586.07 5.32
70.000 < LTV <= 75.000 212 6,651,945.43 11.24
75.000 < LTV <= 80.000 267 9,903,474.17 16.74
80.000 < LTV <= 85.000 169 5,719,881.37 9.67
85.000 < LTV <= 90.000 262 9,480,551.14 16.02
90.000 < LTV <= 95.000 257 8,864,155.36 14.98
95.000 < LTV <=100.003 303 10,582,587.31 17.88
- --------------------------------------------------------------------------
Total.................... 1830 $ 59,173,900.02 100.00%
==========================================================================
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.
<PAGE>
LOAN SUMMARY STRATIFIED BY
CREDIT
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Credit Loans Balance Balance
A+ 361 13,769,940.32 23.27
A 846 27,065,275.86 45.74
B 460 14,181,864.82 23.97
C 157 3,935,110.03 6.65
C- 6 221,708.99 0.37
- --------------------------------------------------------------------------
Total.................. 1830 $ 59,173,900.02 100.00%
==========================================================================
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of % Pool Unpaid Aggregate
Mortgage by # Principal Principal
Loans Loans Balance Balance
UCFC Chattel 1176 64.26% 33,613,028.61 56.80
Man.House/Perm 654 35.74% 25,560,871.41 43.20
- ------------------------------------------------------------------------
Total....... 1830 100.00% $ 59,173,900.02 100.00%
========================================================================
LOCATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
1 Owned, Free/Clear 534 16,455,229.40 27.81
2 Owned, Land Contract 92 3,392,505.38 5.73
3 Onwed, Mort. Deed 640 24,838,427.20 41.98
4 Park 349 8,493,172.23 14.35
5 Park, FHA/VA Approved 13 345,517.59 0.58
6 Lease Land 202 5,649,048.22 9.55
- --------------------------------------------------------------------------
Total............... 1830 $ 59,173,900.02 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
Percentage of
Aggregate Cut-Off Date
No. of Unpaid Aggregate
LIENS Mort. Principal Principal
STAT Loans Balance Balance
Owner Occupied, 1st Mtg 1827 59,094,512.63 99.87
Non-Owner Occupied, 1st Mtg 3 79,387.39 0.13
- -----------------------------------------------------------------------------
Total.................. 1830 $ 59,173,900.02 100.00%
=============================================================================
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.
<PAGE>
UNITS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
1 995 24,452,666.70 41.32
2 829 34,312,792.89 57.99
3 6 408,440.43 0.69
- --------------------------------------------------------------------------
Total............... 1830 $ 59,173,900.02 100.00%
==========================================================================
DEBT TO INCOME
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Ratio Loans Balance Balance
0.000 <DTI<= 5.000 4 123,629.44 0.21
5.000 <DTI<= 10.000 36 850,606.46 1.44
10.000 <DTI<= 15.000 108 2,793,568.45 4.72
15.000 <DTI<= 20.000 175 5,017,838.27 8.48
20.000 <DTI<= 25.000 212 6,355,182.89 10.74
25.000 <DTI<= 30.000 260 7,835,675.30 13.24
30.000 <DTI<= 35.000 290 9,183,074.97 15.52
35.000 <DTI<= 40.000 258 9,317,198.83 15.75
40.000 <DTI<= 45.000 209 7,039,341.63 11.90
45.000 <DTI<= 50.000 139 5,350,203.04 9.04
50.000 <DTI<= 55.000 47 1,671,925.23 2.83
55.000 <DTI<= 60.000 24 932,907.41 1.58
60.000 <DTI<= 65.000 8 348,955.55 0.59
65.000 <DTI<= 70.000 6 213,319.34 0.36
70.000 <DTI<= 75.000 3 130,552.92 0.22
75.000 <DTI<= 80.000 47 1,863,752.22 3.15
80.000 <DTI<= 85.000 1 34,331.91 0.06
90.000 <DTI<= 95.000 2 87,971.16 0.15
105.000 <DTI<= 110.000 1 23,865.00 0.04
- ---------------------------------------------------------------------
Total................ 1830 $ 59,173,900.02 100.00%
=====================================================================
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.
