<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) December 18, 1997
-----------------
UCFC Funding Corporation
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Louisiana 333-07939 72-1328674
- ------------------------------- ------------- -------------
(State or other (Commission (IRS Employer
jurisdiction of 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.*
- ---------------------------------
Pursuant to Rule 424(b) under the Securities Act of 1933, as amended, UCFC
Funding Corporation(R) (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 1997-4.
In connection with the offering of the Manufactured Housing Contract
Pass-Through Certificates, Series 1997-4, Prudential Securities Incorporated
prepared certain materials (the "Computational Materials") which were
distributed by Prudential Securities Incorporated and Credit Suisse First Boston
Corporation (the "Underwriters") to their potential investors. Although the
Depositor provided the Underwriters 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 December 18, 1997, of UCFC Funding Corporation(R), relating to
its Manufactured Housing Contract Pass-Through Certificates, Series 1997-4.
-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: December 19, 1997
<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.
<PAGE>
Exhibit 8.1
Stroock & Stroock & Lavan LLP
180 Maiden Lane
New York, New York 10038-4982
December 18, 1997
UCFC Funding Corporation(R)
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(R), a Louisiana
Corporation ("the Company") in connection with the issuance of $74,400,000
aggregate principal amount of UCFC MH Trust 1997-4 Manufactured Housing Contract
Pass-through Certificates, Series 1997-4 (the "Certificates"). A Registration
Statement on Form S-3 relating to the Certificates (No. 333-07939) (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 December 18, 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 December 1, 1997 (the "Pooling and Servicing Agreement")
among the Company, as Depositor, United Companies Lending Corporation(R), as the
Servicer, and Bankers Trust Company of California, N.A., 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 such information constitutes matters of law or legal conclusions, is
correct in all material respects.
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.
<PAGE>
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
<PAGE>
Preliminary
Marketing Memorandum for:
$[74,400,000]
UCFC Funding Corporation
(Depositor)
Manufactured Housing Contract Pass-Through Certificates,
Series 1997-4
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 1997-4
Title of Certificates: Manufactured Housing Contract Pass-Through Certificates,
Series 1997-4
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: Bankers Trust Company of California, N.A.
Lead Manager: Prudential Securities Incorporated
Co-Manager: Credit Suisse First Boston
<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): [14,000] [16,300] [10,000] [20,500] [ 7,200] [ 6,400] | [ 5,600]
|
**Coupon: 1M LIBOR + TBD TBD TBD TBD TBD TBD | n/a
|
Approx. Price: TBD TBD TBD TBD TBD TBD | n/a
|
Yield: n/a TBD TBD TBD TBD TBD | n/a
|
Spread: TBD TBD TBD TBD TBD TBD | n/a
|
Avg Life: [1.01] [2.96] [5.04] [12.42] [11.26] [7.46] | n/a
|
Avg Life to Call: [1.01] [2.96] [5.04] [11.72] [10.68] [7.46] | n/a
|
1st Prin. Pmt: [01/15/98] [11/15/99] [01/15/02] [05/15/04] [01/15/03] [01/15/03] | n/a
|
Exp Mat: [11/15/99] [01/15/02] [05/15/04] [07/15/21] [07/15/21] [06/15/08] | n/a
|
To 10% Call: [11/15/99] [01/15/02] [05/15/04] [05/15/14] [05/15/14] [06/15/08] | n/a
|
Final Mat: [01/15/07] [06/15/13] [09/15/17] [04/15/29] [04/15/29] [06/15/21] | n/a
|
Pymt Delay: 0 Days 14 Days 14 Days 14 Days 14 Days 14 Days | n/a
|
Dated Date: [12/22/97] [12/1/97] [12/1/97] [12/1/97] [12/1/97] [12/1/97] | n/a
|
Int. Pymt: Monthly Monthly Monthly Monthly Monthly Monthly | n/a
|
1st Int. Pymt Date: [01/15/98] [01/15/98] [01/15/98] [01/15/98] [01/15/98] [01/15/98] | n/a
|
Rating: Aaa/AAA Aaa/AAA Aaa/AAA Aaa/AAA Aa3/AA- Baa2/BBB | n/a
(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
December 23, 1997.
Cut-Off Date: The opening of business on December 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 0.515% 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 January, 1998.
Interest Accrual: The initial interest accrual period on the Class A-1
Certificates will be from December 22 until January
14th (initial coupon set on December 19). In future
periods, interest will accrue on the Class A-1
Certificates at the applicable Pass-Through Rate from
the preceeding Disbribution Date to and including the
day prior to the current Distribution Date. Interest on
the Class A-1 Certificates will be calculated on an
actual/360 basis.
The Interest Accrual Period on the other offered
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 1997-4
Credit Enhancement: SUBORDINATION: Expected subordination levels as a %
of the total Certificates:
Class A1-A4: Aaa/AAA 24.00%
Class M: Aa3/AA- 15.00%
Class B-1: Baa2/BBB 7.00%
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 Regular Certificates on a monthly
basis.
Expected Collateral
Delivery at Closing: Approximately $66 million to $80 million.
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 $0 to $14 million 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) March 15, 1998, 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 1997-4
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; and
(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 January 2003 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
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~
January 1, 2003 - December 31, 2003 7%
January 1, 2004 - December 31, 2004 8%
January 1, 2005 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 1997-4
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: Subject to the considerations and conditions described
in the Prospectus Supplement, it is expected that the
Class A-1 through A-4 Certificates may be purchased by
employee benefit plans that are subject to ERISA.
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>
<S> <C> <C>
CURRENT BALANCE: $14,000,000.00 DATED DATE: 12/22/97
CURRENT COUPON: 6.150% ucfcmh74 FIRST PAYMENT: 01/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $14,000,000.00 BOND A1 DISCOUNT MARGIN ACT/360 TABLE YIELD TABLE DATE: 12/23/97
ASSUMED CONSTANT LIBOR-1M 5.9805
</TABLE>
<TABLE>
<CAPTION>
PRICING SPEED
175.0% 100.00% 125.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C>
99-24 42.582 34.563 37.291 45.195 47.800 50.400
99-24+ 40.980 33.464 36.021 43.430 45.872 48.309
99-25 39.379 32.364 34.750 41.665 43.943 46.218
99-25+ 37.778 31.265 33.480 39.900 42.016 44.127
99-26 36.177 30.166 32.210 38.135 40.088 42.037
99-26+ 34.576 29.067 30.941 36.371 38.161 39.947
99-27 32.976 27.968 29.672 34.608 36.234 37.858
99-27+ 31.376 26.870 28.403 32.844 34.308 35.769
99-28 29.777 25.772 27.134 31.082 32.383 33.681
99-28+ 28.177 24.674 25.866 29.319 30.457 31.593
99-29 26.579 23.576 24.598 27.557 28.532 29.506
99-29+ 24.980 22.479 23.330 25.795 26.608 27.419
99-30 23.382 21.382 22.062 24.034 24.684 25.332
99-30+ 21.784 20.285 20.795 22.273 22.760 23.246
99-31 20.187 19.188 19.528 20.512 20.837 21.161
99-31+ 18.590 18.092 18.261 18.752 18.914 19.076
100-00 16.993 16.995 16.995 16.992 16.992 16.991
100-00+ 15.397 15.899 15.728 15.233 15.070 14.907
100-01 13.801 14.804 14.462 13.474 13.148 12.823
100-01+ 12.205 13.708 13.197 11.715 11.227 10.740
100-02 10.610 12.613 11.931 9.957 9.307 8.657
100-02+ 9.015 11.518 10.666 8.199 7.386 6.575
100-03 7.420 10.423 9.401 6.442 5.466 4.493
100-03+ 5.826 9.328 8.137 4.685 3.547 2.412
First Payment 0.061 0.061 0.061 0.061 0.061 0.061
Average Life 1.007 1.495 1.283 0.911 0.831 0.764
Last Payment 1.894 2.811 2.394 1.728 1.561 1.478
Mod.Dur. @ 100-00 0.941 1.369 1.186 0.854 0.781 0.721
</TABLE>
BOND A1 Floating Rate CLASS
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
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>
<S> <C> <C>
CURRENT BALANCE: $16,300,000.00 DATED DATE: 12/01/97
COUPON: 6.410% ucfcmh74 FIRST PAYMENT: 01/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $16,300,000.00 BOND A2 BE-YIELD TABLE YIELD TABLE DATE: 12/23/97
</TABLE>
PREPAYMENT SPEED
PRICING SPEED
<TABLE>
<CAPTION>
175.0% 100.00% 125.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C>
99-24 6.496 6.496 6.496 6.496 6.496 6.496
99-24+ 6.490 6.492 6.492 6.490 6.489 6.489
99-25 6.484 6.488 6.487 6.483 6.482 6.481
99-25+ 6.478 6.484 6.482 6.477 6.475 6.473
99-26 6.472 6.480 6.477 6.470 6.468 6.465
99-26+ 6.466 6.476 6.472 6.463 6.461 6.458
99-27 6.460 6.471 6.468 6.457 6.453 6.450
99-27+ 6.454 6.467 6.463 6.450 6.446 6.442
99-28 6.448 6.463 6.458 6.444 6.439 6.434
99-28+ 6.442 6.459 6.453 6.437 6.432 6.427
99-29 6.436 6.455 6.449 6.431 6.425 6.419
99-29+ 6.430 6.451 6.444 6.424 6.417 6.411
99-30 6.424 6.446 6.439 6.417 6.410 6.403
99-30+ 6.419 6.442 6.434 6.411 6.403 6.396
99-31 6.413 6.438 6.430 6.404 6.396 6.388
99-31+ 6.407 6.434 6.425 6.398 6.389 6.380
100-00 6.401 6.430 6.420 6.391 6.382 6.372
100-00+ 6.395 6.426 6.415 6.384 6.374 6.365
100-01 6.389 6.422 6.411 6.378 6.367 6.357
100-01+ 6.383 6.417 6.406 6.371 6.360 6.349
100-02 6.377 6.413 6.401 6.365 6.353 6.341
100-02+ 6.371 6.409 6.396 6.358 6.346 6.334
100-03 6.365 6.405 6.391 6.352 6.339 6.326
100-03+ 6.359 6.401 6.387 6.345 6.332 6.318
100-04 6.353 6.397 6.382 6.338 6.324 6.311
100-04+ 6.347 6.393 6.377 6.332 6.317 6.303
100-05 6.341 6.388 6.372 6.325 6.310 6.295
100-05+ 6.335 6.384 6.368 6.319 6.303 6.287
100-06 6.329 6.380 6.363 6.312 6.296 6.280
100-06+ 6.323 6.376 6.358 6.306 6.289 6.272
100-07 6.317 6.372 6.353 6.299 6.282 6.264
100-07+ 6.311 6.368 6.349 6.293 6.274 6.257
First Payment 1.894 2.811 2.394 1.728 1.561 1.478
Average Life 2.955 4.471 3.814 2.662 2.425 2.230
Last Payment 4.061 6.228 5.311 3.644 3.311 3.061
Mod.Dur. @ 100-00 2.603 3.751 3.268 2.367 2.173 2.011
</TABLE>
BOND A2 AAA/Aaa CLASS
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
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>
<S> <C> <C>
CURRENT BALANCE: $10,000,000.00 DATED DATE: 12/01/97
COUPON: 6.565% ucfcmh74 FIRST PAYMENT: 01/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $10,000,000.00 BOND A3 BE-YIELD TABLE YIELD TABLE DATE: 12/23/97
</TABLE>
PREPAYMENT SPEED
PRICING SPEED
<TABLE>
<CAPTION>
175.0% 100.00% 125.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C>
99-23+ 6.658 6.657 6.657 6.658 6.658 6.659
99-24 6.654 6.654 6.654 6.654 6.654 6.654
99-24+ 6.650 6.652 6.651 6.650 6.649 6.649
99-25 6.647 6.649 6.648 6.646 6.645 6.644
99-25+ 6.643 6.647 6.645 6.641 6.640 6.639
99-26 6.639 6.644 6.642 6.637 6.635 6.634
99-26+ 6.635 6.641 6.639 6.633 6.631 6.629
99-27 6.632 6.639 6.636 6.629 6.626 6.624
99-27+ 6.628 6.636 6.633 6.625 6.622 6.619
99-28 6.624 6.633 6.630 6.620 6.617 6.614
99-28+ 6.620 6.631 6.627 6.616 6.613 6.609
99-29 6.617 6.628 6.624 6.612 6.608 6.604
99-29+ 6.613 6.625 6.621 6.608 6.603 6.599
99-30 6.609 6.623 6.618 6.604 6.599 6.594
99-30+ 6.605 6.620 6.615 6.599 6.594 6.589
99-31 6.602 6.617 6.612 6.595 6.590 6.584
99-31+ 6.598 6.615 6.609 6.591 6.585 6.579
100-00 6.594 6.612 6.606 6.587 6.581 6.574
100-00+ 6.590 6.610 6.604 6.583 6.576 6.570
100-01 6.587 6.607 6.601 6.578 6.571 6.565
100-01+ 6.583 6.604 6.598 6.574 6.567 6.560
100-02 6.579 6.602 6.595 6.570 6.562 6.555
100-02+ 6.575 6.599 6.592 6.566 6.558 6.550
100-03 6.572 6.596 6.589 6.562 6.553 6.545
100-03+ 6.568 6.594 6.586 6.557 6.549 6.540
100-04 6.564 6.591 6.583 6.553 6.544 6.535
100-04+ 6.560 6.588 6.580 6.549 6.539 6.530
100-05 6.557 6.586 6.577 6.545 6.535 6.525
100-05+ 6.553 6.583 6.574 6.541 6.530 6.520
100-06 6.549 6.580 6.571 6.537 6.526 6.515
100-06+ 6.545 6.578 6.568 6.532 6.521 6.510
100-07 6.542 6.575 6.565 6.528 6.517 6.505
First Payment 4.061 6.228 5.311 3.644 3.311 3.061
Average Life 5.042 7.783 6.648 4.414 3.995 3.654
Last Payment 6.394 9.894 8.561 5.311 4.728 4.311
Mod.Dur. @ 99-31+ 4.154 5.890 5.208 3.712 3.405 3.148
</TABLE>
BOND A3 AAA/Aaa CLASS
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
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>
<S> <C> <C>
CURRENT BALANCE: $20,500,000.00 DATED DATE: 12/01/97
COUPON: 6.880% ucfcmh74 FIRST PAYMENT: 01/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $20,500,000.00 BOND A4 BE-YIELD TABLE YIELD TABLE DATE: 12/23/97
**** TO CALL ****
</TABLE>
PREPAYMENT SPEED
PRICING SPEED
<TABLE>
<CAPTION>
175.0% 100.00% 125.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C>
99-23+ 6.979 6.979 6.979 6.979 6.979 6.979
99-24 6.977 6.977 6.977 6.977 6.977 6.976
99-24+ 6.975 6.976 6.976 6.975 6.974 6.974
99-25 6.973 6.974 6.974 6.972 6.972 6.971
99-25+ 6.971 6.972 6.972 6.970 6.969 6.968
99-26 6.969 6.971 6.970 6.968 6.967 6.965
99-26+ 6.967 6.969 6.968 6.966 6.964 6.963
99-27 6.965 6.967 6.967 6.963 6.962 6.960
99-27+ 6.963 6.966 6.965 6.961 6.959 6.957
99-28 6.961 6.964 6.963 6.959 6.957 6.955
99-28+ 6.959 6.962 6.961 6.957 6.954 6.952
99-29 6.957 6.961 6.960 6.954 6.952 6.949
99-29+ 6.955 6.959 6.958 6.952 6.949 6.947
99-30 6.952 6.957 6.956 6.950 6.947 6.944
99-30+ 6.950 6.956 6.954 6.948 6.945 6.941
99-31 6.948 6.954 6.952 6.945 6.942 6.938
99-31+ 6.946 6.953 6.951 6.943 6.940 6.936
100-00 6.944 6.951 6.949 6.941 6.937 6.933
100-00+ 6.942 6.949 6.947 6.939 6.935 6.930
100-01 6.940 6.948 6.945 6.937 6.932 6.928
100-01+ 6.938 6.946 6.944 6.934 6.930 6.925
100-02 6.936 6.944 6.942 6.932 6.927 6.922
100-02+ 6.934 6.943 6.940 6.930 6.925 6.920
100-03 6.932 6.941 6.938 6.928 6.922 6.917
100-03+ 6.930 6.939 6.937 6.925 6.920 6.914
100-04 6.928 6.938 6.935 6.923 6.918 6.912
100-04+ 6.926 6.936 6.933 6.921 6.915 6.909
100-05 6.924 6.934 6.931 6.919 6.913 6.906
100-05+ 6.922 6.933 6.929 6.916 6.910 6.903
100-06 6.920 6.931 6.928 6.914 6.908 6.901
100-06+ 6.918 6.929 6.926 6.912 6.905 6.898
100-07 6.916 6.928 6.924 6.910 6.903 6.895
First Payment 6.394 9.894 8.561 5.311 4.728 4.311
Average Life 11.721 16.421 14.669 10.278 9.028 7.965
Last Payment 16.394 21.478 19.644 14.894 13.644 12.561
Mod.Dur. @ 99-31+ 7.621 9.372 8.777 6.962 6.338 5.775
</TABLE>
BOND A4 AAA/Aaa CLASS
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
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>
<S> <C> <C>
CURRENT BALANCE: $7,200,000.00 DATED DATE: 12/01/97
COUPON: 7.130% ucfcmh74 FIRST PAYMENT: 01/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $7,200,000.00 BOND M BE-YIELD TABLE YIELD TABLE DATE: 12/23/97
**** TO CALL ****
</TABLE>
PREPAYMENT SPEED
PRICING SPEED
<TABLE>
<CAPTION>
175.0% 100.00% 125.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C>
99-24 7.233 7.234 7.233 7.233 7.233 7.232
99-24+ 7.231 7.232 7.231 7.230 7.230 7.230
99-25 7.228 7.230 7.229 7.228 7.228 7.227
99-25+ 7.226 7.228 7.227 7.226 7.225 7.225
99-26 7.224 7.226 7.225 7.223 7.223 7.223
99-26+ 7.222 7.224 7.223 7.221 7.221 7.220
99-27 7.219 7.223 7.222 7.219 7.218 7.218
99-27+ 7.217 7.221 7.220 7.216 7.216 7.215
99-28 7.215 7.219 7.218 7.214 7.213 7.213
99-28+ 7.213 7.217 7.216 7.212 7.211 7.210
99-29 7.211 7.215 7.214 7.210 7.209 7.208
99-29+ 7.208 7.213 7.212 7.207 7.206 7.205
99-30 7.206 7.212 7.210 7.205 7.204 7.203
99-30+ 7.204 7.210 7.208 7.203 7.201 7.200
99-31 7.202 7.208 7.206 7.200 7.199 7.198
99-31+ 7.199 7.206 7.204 7.198 7.197 7.195
100-00 7.197 7.204 7.202 7.196 7.194 7.193
100-00+ 7.195 7.203 7.200 7.193 7.192 7.190
100-01 7.193 7.201 7.198 7.191 7.190 7.188
100-01+ 7.191 7.199 7.196 7.189 7.187 7.186
100-02 7.188 7.197 7.194 7.186 7.185 7.183
100-02+ 7.186 7.195 7.192 7.184 7.182 7.181
100-03 7.184 7.193 7.190 7.182 7.180 7.178
100-03+ 7.182 7.192 7.188 7.180 7.178 7.176
100-04 7.179 7.190 7.186 7.177 7.175 7.173
100-04+ 7.177 7.188 7.184 7.175 7.173 7.171
100-05 7.175 7.186 7.182 7.173 7.170 7.168
100-05+ 7.173 7.184 7.180 7.170 7.168 7.166
100-06 7.171 7.183 7.179 7.168 7.166 7.163
100-06+ 7.168 7.181 7.177 7.166 7.163 7.161
100-07 7.166 7.179 7.175 7.163 7.161 7.159
100-07+ 7.164 7.177 7.173 7.161 7.159 7.156
First Payment 5.061 7.311 6.228 5.061 5.061 5.061
Average Life 10.681 14.712 13.074 10.043 9.503 9.033
Last Payment 16.394 21.478 19.644 14.894 13.644 12.561
Mod.Dur. @ 100-00 6.999 8.552 7.956 6.749 6.525 6.320
</TABLE>
BOND M AA-/Aa3 9% CLASS
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
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>
<S> <C> <C>
CURRENT BALANCE: $6,400,000.00 DATED DATE: 12/01/97
COUPON: 7.265% ucfcmh74 FIRST PAYMENT: 01/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $6,400,000.00 BOND B1 BE-YIELD TABLE YIELD TABLE DATE: 12/23/97
</TABLE>
PREPAYMENT SPEED
PRICING SPEED
<TABLE>
<CAPTION>
175.0% 100.00% 125.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C>
99-23+ 7.373 7.373 7.373 7.373 7.373 7.373
99-24 7.370 7.371 7.371 7.370 7.370 7.369
99-24+ 7.367 7.369 7.368 7.367 7.367 7.366
99-25 7.364 7.367 7.366 7.364 7.364 7.363
99-25+ 7.361 7.365 7.364 7.361 7.361 7.360
99-26 7.359 7.363 7.361 7.358 7.358 7.357
99-26+ 7.356 7.360 7.359 7.355 7.355 7.354
99-27 7.353 7.358 7.356 7.352 7.352 7.351
99-27+ 7.350 7.356 7.354 7.349 7.349 7.348
99-28 7.347 7.354 7.352 7.347 7.346 7.345
99-28+ 7.344 7.352 7.349 7.344 7.343 7.342
99-29 7.342 7.349 7.347 7.341 7.340 7.339
99-29+ 7.339 7.347 7.344 7.338 7.337 7.336
99-30 7.336 7.345 7.342 7.335 7.334 7.333
99-30+ 7.333 7.343 7.339 7.332 7.331 7.330
99-31 7.330 7.341 7.337 7.329 7.328 7.327
99-31+ 7.328 7.339 7.335 7.326 7.325 7.324
100-00 7.325 7.336 7.332 7.323 7.322 7.321
100-00+ 7.322 7.334 7.330 7.321 7.319 7.318
100-01 7.319 7.332 7.327 7.318 7.316 7.315
100-01+ 7.316 7.330 7.325 7.315 7.313 7.312
100-02 7.313 7.328 7.323 7.312 7.310 7.309
100-02+ 7.311 7.325 7.320 7.309 7.307 7.306
100-03 7.308 7.323 7.318 7.306 7.304 7.303
100-03+ 7.305 7.321 7.315 7.303 7.302 7.300
100-04 7.302 7.319 7.313 7.300 7.299 7.297
100-04+ 7.299 7.317 7.311 7.297 7.296 7.294
100-05 7.297 7.315 7.308 7.295 7.293 7.291
100-05+ 7.294 7.312 7.306 7.292 7.290 7.288
100-06 7.291 7.310 7.303 7.289 7.287 7.285
100-06+ 7.288 7.308 7.301 7.286 7.284 7.282
100-07 7.285 7.306 7.299 7.283 7.281 7.279
First Payment 5.061 7.311 6.228 5.061 5.061 5.061
Average Life 7.456 10.752 9.299 7.193 6.978 6.798
Last Payment 10.478 14.811 13.061 9.894 9.478 9.061
Mod.Dur. @ 99-31+ 5.519 7.146 6.473 5.378 5.261 5.160
</TABLE>
BOND B1 BBB 8% CLASS
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
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>
- --------------------------------------------------------------------------------
- UCFCMH74
- Cut Off Date of Tape is 12/01/97
- FIXED RATE
- $65,778,816.79
- Mortgage Summary Report
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 1,761
Aggregate Unpaid Principal Balance: $65,778,816.79
Aggregate Original Principal Balance: $65,862,364.83
Weighted Average Gross Coupon: 9.713%
Gross Coupon Range: 6.150% - 14.250%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $37,353.10
Average Original Principal Balance: $37,400.55
Maximum Unpaid Principal Balance: $160,833.63
Minimum Unpaid Principal Balance: $2,484.00
Maximum Original Principal Balance: $160,931.12
Minimum Original Principal Balance: $5,000.00
Weighted Avg. Stated Rem. Term (PTD to Mat Date): 303.707
Stated Rem Term Range: 25.000 - 360.000
Weighted Average Age : 1.203
Age Range: 0.000 - 59.000
Weighted Average Original Term: 304.910
Original Term Range: 60.000 - 360.000
Weighted Average Original LTV: 86.050 *
Original LTV Range: 7.570% - 100.000% * excluding 2
loans with
erroneous
Original
LTVs.
Weighted Average Current LTV: 85.951 *
Current LTV Range: 7.560% - 100.000% * excluding 2
loans with
erroneous
Current
LTVs.
New Manufactured Homes: 84.04%
Used Manufactured Homes: 15.96%
Chattel Contracts: 70.27%
Land-and-Home Contracts: 29.73%
Primary Residence: 100.00%
Other: 0.00%
Purchase: 71.13%
Refinance: 28.87%
Single Wides: 32.82%
Double Wides: 65.54%
Triple Wides: 1.64%
- --------------------------------------------------------------------------------
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
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
- --------------------------------------------------------------------------------
Aggregate Percent of
Unpaid Aggregate
Number of Percent of Principal Principal
State Loans Loan Count Balance Balance
Alabama 3 0.17% 156,798.23 0.24
Arizona 9 0.51% 351,925.36 0.54
Arkansas 60 3.41% 2,085,063.29 3.17
California 15 0.85% 246,227.18 0.37
Colorado 38 2.16% 1,420,007.28 2.16
Delaware 3 0.17% 39,685.60 0.06
Dist of Col 1 0.06% 160,833.63 0.24
Florida 156 8.86% 6,076,779.38 9.24
Georgia 96 5.45% 3,728,875.05 5.67
Idaho 1 0.06% 9,861.89 0.01
Illinois 18 1.02% 710,851.86 1.08
Indiana 20 1.14% 553,480.41 0.84
Iowa 22 1.25% 555,893.04 0.85
Kansas 1 0.06% 59,700.96 0.09
Kentucky 26 1.48% 636,177.74 0.97
Louisiana 61 3.46% 2,174,295.76 3.31
Maine 7 0.40% 303,528.58 0.46
Maryland 1 0.06% 11,500.00 0.02
Michigan 31 1.76% 955,032.82 1.45
Minnesota 60 3.41% 2,043,660.46 3.11
Mississippi 59 3.35% 2,207,534.68 3.36
Missouri 41 2.33% 1,384,003.42 2.10
New Mexico 57 3.24% 3,047,636.71 4.63
New York 29 1.65% 547,510.96 0.83
North Carolina 202 11.47% 7,057,822.79 10.73
North Dakota 2 0.11% 54,773.23 0.08
Ohio 42 2.39% 1,212,527.53 1.84
Oklahoma 25 1.42% 921,945.69 1.40
Oregon 12 0.68% 912,919.56 1.39
Pennsylvania 73 4.15% 1,935,071.38 2.94
South Carolina 269 15.28% 11,798,210.50 17.94
South Dakota 4 0.23% 160,638.04 0.24
Tennessee 71 4.03% 2,889,105.22 4.39
Texas 161 9.14% 6,003,578.95 9.13
Utah 4 0.23% 222,217.88 0.34
Virginia 12 0.68% 583,290.08 0.89
Washington 8 0.45% 507,007.10 0.77
West Virginia 23 1.31% 863,447.64 1.31
Wisconsin 38 2.16% 1,189,396.91 1.81
- --------------------------------------------------------------------------------
Total................ 1,761 100.00% 65,778,816.79 100.00%
================================================================================
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
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>
CURRENT MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Aggregate Percentage of
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Percent of Principal Principal
Principal Balance Loans Loan Count Balance Balance
<S> <C> <C> <C> <C>
0 (less than) Balance (less than or equal to) 5,000 6 0.34 27,364.00 0.04
5,000 (less than) Balance (less than or equal to) 10,000 94 5.34 742,742.25 1.13
10,000 (less than) Balance (less than or equal to) 15,000 154 8.75 1,893,117.07 2.88
15,000 (less than) Balance (less than or equal to) 20,000 133 7.55 2,327,786.08 3.54
20,000 (less than) Balance (less than or equal to) 25,000 148 8.40 3,335,648.21 5.07
25,000 (less than) Balance (less than or equal to) 30,000 170 9.65 4,686,673.90 7.12
30,000 (less than) Balance (less than or equal to) 35,000 230 13.06 7,454,179.64 11.33
35,000 (less than) Balance (less than or equal to) 40,000 147 8.35 5,509,306.52 8.38
40,000 (less than) Balance (less than or equal to) 45,000 125 7.10 5,303,692.71 8.06
45,000 (less than) Balance (less than or equal to) 50,000 132 7.50 6,276,273.47 9.54
50,000 (less than) Balance (less than or equal to) 55,000 96 5.45 5,047,857.65 7.67
55,000 (less than) Balance (less than or equal to) 60,000 92 5.22 5,303,601.13 8.06
60,000 (less than) Balance (less than or equal to) 65,000 62 3.52 3,865,271.86 5.88
65,000 (less than) Balance (less than or equal to) 70,000 43 2.44 2,890,487.51 4.39
70,000 (less than) Balance (less than or equal to) 75,000 32 1.82 2,310,106.52 3.51
75,000 (less than) Balance (less than or equal to) 80,000 18 1.02 1,396,233.21 2.12
80,000 (less than) Balance (less than or equal to) 85,000 22 1.25 1,799,609.84 2.74
85,000 (less than) Balance (less than or equal to) 90,000 20 1.14 1,740,441.23 2.65
90,000 (less than) Balance (less than or equal to) 95,000 16 0.91 1,491,690.38 2.27
95,000 (less than) Balance (less than or equal to) 100,000 7 0.40 684,196.27 1.04
100,000 (less than) Balance (less than or equal to) 105,000 1 0.06 101,806.06 0.15
105,000 (less than) Balance (less than or equal to) 110,000 5 0.28 541,354.24 0.82
110,000 (less than) Balance (less than or equal to) 115,000 2 0.11 222,735.91 0.34
115,000 (less than) Balance (less than or equal to) 120,000 1 0.06 115,569.63 0.18
120,000 (less than) Balance (less than or equal to) 125,000 1 0.06 120,798.73 0.18
125,000 (less than) Balance (less than or equal to) 130,000 1 0.06 127,730.51 0.19
140,000 (less than) Balance (less than or equal to) 145,000 1 0.06 142,861.94 0.22
155,000 (less than) Balance (less than or equal to) 160,000 1 0.06 158,846.69 0.24
160,000 (less than) Balance (less than or equal to) 165,000 1 0.06 160,833.63 0.24
- --------------------------------------------------------------------------------------------------------------------
Total...................................................... 1,761 100.00 $65,778,816.79 100.00%
====================================================================================================================
</TABLE>
LOAN-TO-VALUE RATIOS
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Aggregate Percent of
Unpaid Aggregate
Loan-To-Value Number of Percent of Principal Principal
Ratio Loans Loan Count Balance Balance
<S> <C> <C> <C> <C>
0.000 (less than) LTV (less than or equal to) 5.000 1 0.06 48,436.34 0.07
5.000 (less than) LTV (less than or equal to) 10.000 2 0.06 16,081.56 0.02
15.000 (less than) LTV (less than or equal to) 20.000 3 0.17 20,831.33 0.03
20.000 (less than) LTV (less than or equal to) 25.000 4 0.23 20,465.41 0.03
25.000 (less than) LTV (less than or equal to) 30.000 7 0.40 50,837.88 0.08
30.000 (less than) LTV (less than or equal to) 35.000 8 0.45 72,969.66 0.11
35.000 (less than) LTV (less than or equal to) 40.000 17 0.97 216,093.13 0.33
40.000 (less than) LTV (less than or equal to) 45.000 18 1.02 234,316.45 0.36
45.000 (less than) LTV (less than or equal to) 50.000 27 1.53 334,725.43 0.51
50.000 (less than) LTV (less than or equal to) 55.000 26 1.48 372,637.87 0.57
55.000 (less than) LTV (less than or equal to) 60.000 30 1.70 456,543.06 0.69
60.000 (less than) LTV (less than or equal to) 65.000 45 2.56 907,767.94 1.38
65.000 (less than) LTV (less than or equal to) 70.000 67 3.80 1,572,112.87 2.39
70.000 (less than) LTV (less than or equal to) 75.000 73 4.15 2,033,092.30 3.09
75.000 (less than) LTV (less than or equal to) 80.000 241 13.69 7,027,604.42 10.68
80.000 (less than) LTV (less than or equal to) 85.000 263 14.93 9,721,171.30 14.78
85.000 (less than) LTV (less than or equal to) 90.000 515 29.24 20,537,265.37 31.22
90.000 (less than) LTV (less than or equal to) 95.000 287 16.30 14,456,908.95 21.98
95.000 (less than) LTV (less than or equal to) 100.000 127 7.21 7,624,391.61 11.59
LTV (greater than) 100.000 1 0.06 54,563.91 0.08
- -------------------------------------------------------------------------------------------------------------------
Total................................................. 1,761 100.00% 65,778,816.79 100.00%
===================================================================================================================
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL
INFORMATION IN THE PROSPECTUS SUPPLEMENT.
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 COUPON
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Percent of Principal Principal
Gross Coupon Loans Loan Count Balance Balance
<S> <C> <C> <C> <C>
6.00% (less than) Gross Cpn (less than or equal to) 6.50% 6 0.34 525,163.57 0.80
6.50% (less than) Gross Cpn (less than or equal to) 7.00% 45 2.56 3,618,813.33 5.50
7.00% (less than) Gross Cpn (less than or equal to) 7.50% 47 2.67 3,491,985.23 5.31
7.50% (less than) Gross Cpn (less than or equal to) 8.00% 54 3.07 2,808,750.13 4.27
8.00% (less than) Gross Cpn (less than or equal to) 8.50% 141 8.01 7,831,245.22 11.91
8.50% (less than) Gross Cpn (less than or equal to) 9.00% 126 7.16 6,094,495.55 9.27
9.00% (less than) Gross Cpn (less than or equal to) 9.50% 97 5.51 5,070,890.12 7.71
9.50% (less than) Gross Cpn (less than or equal to) 10.00% 147 8.35 5,998,222.74 9.12
10.00% (less than) Gross Cpn (less than or equal to) 10.50% 256 14.54 10,428,746.75 15.85
10.50% (less than) Gross Cpn (less than or equal to) 11.00% 287 16.30 9,166,272.90 13.93
11.00% (less than) Gross Cpn (less than or equal to) 11.50% 93 5.28 2,904,980.60 4.42
11.50% (less than) Gross Cpn (less than or equal to) 12.00% 114 6.47 2,413,625.89 3.67
12.00% (less than) Gross Cpn (less than or equal to) 12.50% 188 10.68 3,132,597.68 4.76
12.50% (less than) Gross Cpn (less than or equal to) 13.00% 137 7.78 1,932,530.00 2.94
13.00% (less than) Gross Cpn (less than or equal to) 13.50% 18 1.02 266,247.59 0.40
13.50% (less than) Gross Cpn (less than or equal to) 14.00% 4 0.23 64,478.49 0.10
14.00% (less than) Gross Cpn (less than or equal to) 14.50% 1 0.06 29,771.00 0.05
- ---------------------------------------------------------------------------------------------------------------------
Total..................................................... 1,761 100.00 65,778,816.79 100.00
=====================================================================================================================
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL
INFORMATION IN THE PROSPECTUS SUPPLEMENT.
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.
</TABLE>
<PAGE>
REMAINING TERM
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
Aggregate Percent of
Unpaid Aggregate
Number of Percent of Principal Principal
Rem Term Loan Loan Count Balance Balance
<S> <C> <C> <C> <C>
24 (less than) Rem Term (less than or equal to) 36 1 0.06 2,484.00 0.00
48 (less than) Rem Term (less than or equal to) 60 79 4.49 652,889.65 0.99
60 (less than) Rem Term (less than or equal to) 72 2 0.11 22,289.52 0.03
72 (less than) Rem Term (less than or equal to) 84 70 3.98 874,934.11 1.33
84 (less than) Rem Term (less than or equal to) 96 3 0.17 34,444.50 0.05
96 (less than) Rem Term (less than or equal to) 108 1 0.06 15,819.56 0.02
108 (less than) Rem Term (less than or equal to) 120 109 6.19 1,659,882.67 2.52
132 (less than) Rem Term (less than or equal to) 144 41 2.33 672,258.78 1.02
168 (less than) Rem Term (less than or equal to) 180 212 12.04 4,907,253.51 7.46
216 (less than) Rem Term (less than or equal to) 228 2 0.11 66,611.99 0.10
228 (less than) Rem Term (less than or equal to) 240 239 13.57 7,701,484.90 11.71
276 (less than) Rem Term (less than or equal to) 288 3 0.17 146,010.45 0.22
288 (less than) Rem Term (less than or equal to) 300 380 21.58 13,316,397.63 20.24
300 (less than) Rem Term (less than or equal to) 312 1 0.06 59,232.59 0.09
312 (less than) Rem Term (less than or equal to) 324 1 0.06 70,087.95 0.11
324 (less than) Rem Term (less than or equal to) 336 1 0.06 56,672.36 0.09
336 (less than) Rem Term (less than or equal to) 348 11 0.62 778,524.22 1.18
348 (less than) Rem Term (less than or equal to) 360 605 34.36 34,741,538.40 52.82
- --------------------------------------------------------------------------------------------------------------------
Total................................................ 1,761 100.00% 65,778,816.79 100.00%
====================================================================================================================
ORIGINAL TERM
------------------------------------------------------------------------------------------------------------------
<CAPTION>
Aggregate Percent of
Unpaid Aggregate
Number of Percent of Principal Principal
Original Term Loan Loan Count Balance Balance
<S> <C> <C> <C> <C>
48 (less than) Orig Term (less than or equal to) 60 80 4.54 655,373.65 1.00
60 (less than) Orig Term (less than or equal to) 72 1 0.06 9,000.00 0.01
72 (less than) Orig Term (less than or equal to) 84 70 3.98 874,934.11 1.33
84 (less than) Orig Term (less than or equal to) 96 3 0.17 34,444.50 0.05
96 (less than) Orig Term (less than or equal to) 108 1 0.06 15,819.56 0.02
108 (less than) Orig Term (less than or equal to) 120 110 6.25 1,673,172.19 2.54
132 (less than) Orig Term (less than or equal to) 144 41 2.33 672,258.78 1.02
168 (less than) Orig Term (less than or equal to) 180 212 12.04 4,907,253.51 7.46
228 (less than) Orig Term (less than or equal to) 240 241 13.69 7,768,096.89 11.81
288 (less than) Orig Term (less than or equal to) 300 383 21.75 13,462,408.08 20.47
348 (less than) Orig Term (less than or equal to) 360 619 35.15 35,706,055.52 54.28
- ---------------------------------------------------------------------------------------------------------------------
Total.................................................. 1,761 100.00% 65,778,816.79 100.00%
=====================================================================================================================
AGE IN MONTHS
-------------------------------------------------------------------------------------------------------------------
<CAPTION>
Aggregate Percent of
Unpaid Aggregate
Number of Percent of Principal Principal
Age Loans Loan Count Balance Balance
<S> <C> <C> <C> <C>
0 (less than) Age (less than or equal to) 6 1,720 97.67 63,720,360.83 96.87
6 (less than) Age (less than or equal to) 12 26 1.48 1,237,726.88 1.88
12 (less than) Age (less than or equal to) 18 6 0.34 427,717.71 0.65
18 (less than) Age (less than or equal to) 24 4 0.23 191,244.95 0.29
24 (less than) Age (less than or equal to) 30 1 0.06 56,672.36 0.09
30 (less than) Age (less than or equal to) 36 1 0.06 2,484.00 0.00
36 (less than) Age (less than or equal to) 42 1 0.06 70,087.95 0.11
48 (less than) Age (less than or equal to) 54 1 0.06 59,232.59 0.09
54 (less than) Age (Less than or equal to) 60 1 0.06 13,289.52 0.02
- --------------------------------------------------------------------------------------------------------------------
Total................................................ 1,761 100.00% 65,778,816.79 100.00%
====================================================================================================================
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL
INFORMATION IN THE PROSPECTUS SUPPLEMENT.
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.
</TABLE>
<PAGE>
UCFC Funding Corporation
Manufactured Housing Contract Pass-Through Certificates Series 1997-4
Title of Certificates: Manufactured Housing Contract Pass-Through Certificates,
Series 1997-4
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: Bankers Trust Company of California, N.A.
Lead Manager: Prudential Securities Incorporated
Co-Manager: Credit Suisse First Boston
<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): 14,000 16,300 10,000 20,500 7,200 6,400 | 5,600
|
**Coupon: 1M LIBOR + 16 6.480 6.585 6.995 7.095 7.405 | n/a
|
Approx. Price: 100-0 100-0 100-0 100-0 100-0 100-0 | n/a
|
Yield: n/a 6.471 6.614 7.062 7.161 7.468 | n/a
|
Spread: 16 74/3yr 83/5yr 120/10yr 130/10yr 163 | n/a
|
Avg Life: 0.99 2.93 4.99 12.37 11.26 7.44 | n/a
|
Avg Life to Call: 0.99 2.93 4.99 11.66 10.66 7.44 | n/a
|
1st Prin. Pmt: 01/15/98 11/15/99 01/15/02 04/15/04 01/15/03 01/15/03 | n/a
|
Exp Mat: 11/15/99 01/15/02 04/15/04 10/15/21 10/15/21 06/15/08 | n/a
|
To 10% Call: 11/15/99 01/15/02 04/15/04 05/15/14 05/15/14 06/15/08 | n/a
|
Final Mat: 10/15/06 05/15/13 10/15/17 04/15/29 04/15/29 11/15/21 | n/a
|
Pymt Delay: 0 Days 14 Days 14 Days 14 Days 14 Days 14 Days | n/a
|
Dated Date: 12/22/97 12/1/97 12/1/97 12/1/97 12/1/97 12/1/97 | n/a
|
Int. Pymt: Monthly Monthly Monthly Monthly Monthly Monthly | n/a
|
1st Int. Pymt Date: 01/15/98 01/15/98 01/15/98 01/15/98 01/15/98 01/15/98 | n/a
|
Rating: Aaa/AAA Aaa/AAA Aaa/AAA Aaa/AAA Aa3/AA- Baa2/BBB | n/a
(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 December
23, 1997.
Cut-Off Date: The opening of business on December 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 0.515% 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 January, 1998.
Interest Accrual: The initial interest accrual period
on the Class A-1 Certificates will be from December 22
until January 14th (initial coupon set on December 19).
In future periods, interest will accrue on the Class
A-1 Certificates at the applicable Pass-Through Rate
from the preceeding Disbribution Date to and including
the day prior to the current Distribution Date.
Interest on the Class A-1 Certificates will be
calculated on an actual/360 basis.
The Interest Accrual Period on the other offered
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>
<TABLE>
<S> <C> <C>
CURRENT BALANCE: $14,000,000.00 DATED DATE: 12/22/97
CURRENT COUPON: 6.125% ucfcmh74 FIRST PAYMENT: 01/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $14,000,000.00 BOND A1 DISCOUNT MARGIN ACT/360 TABLE YIELD TABLE DATE: 12/23/97
</TABLE>
ASSUMED CONSTANT LIBOR-1M 5.9648
PRICING SPEED
<TABLE>
<CAPTION>
175.0% 100.00% 125.00% 150.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 41.977 33.800 36.572 39.297 44.659 47.326 50.024
99-24+ 40.350 32.686 35.284 37.838 42.864 45.364 47.894
99-25 38.724 31.571 33.996 36.380 41.070 43.403 45.764
99-25+ 37.098 30.457 32.708 34.921 39.276 41.442 43.634
99-26 35.472 29.343 31.421 33.463 37.483 39.482 41.505
99-26+ 33.847 28.230 30.134 32.006 35.690 37.522 39.376
99-27 32.222 27.116 28.847 30.549 33.897 35.563 37.248
99-27+ 30.598 26.003 27.560 29.092 32.105 33.604 35.120
99-28 28.974 24.890 26.274 27.635 30.313 31.645 32.993
99-28+ 27.350 23.777 24.988 26.179 28.522 29.687 30.866
99-29 25.726 22.665 23.703 24.723 26.731 27.729 28.739
99-29+ 24.103 21.553 22.417 23.267 24.940 25.772 26.613
99-30 22.481 20.441 21.132 21.812 23.150 23.815 24.488
99-30+ 20.858 19.329 19.847 20.357 21.360 21.858 22.363
99-31 19.236 18.218 18.563 18.902 19.570 19.902 20.239
99-31+ 17.614 17.106 17.279 17.448 17.781 17.947 18.115
100-00 15.993 15.995 15.995 15.994 15.992 15.992 15.991
100-00+ 14.372 14.885 14.711 14.540 14.204 14.037 13.868
100-01 12.752 13.774 13.427 13.087 12.416 12.083 11.745
100-01+ 11.131 12.664 12.144 11.634 10.629 10.129 9.623
100-02 9.511 11.554 10.861 10.181 8.842 8.175 7.502
100-02+ 7.892 10.444 9.579 8.728 7.055 6.222 5.380
100-03 6.273 9.334 8.296 7.276 5.268 4.270 3.260
100-03+ 4.654 8.225 7.014 5.824 3.482 2.318 1.139
First Payment 0.061 0.061 0.061 0.061 0.061 0.061 0.061
Average Life 0.992 1.473 1.265 1.110 0.896 0.817 0.750
Last Payment 1.894 2.811 2.394 2.144 1.728 1.561 1.394
Mod.Dur. @ 100-00 0.927 1.351 1.170 1.033 0.840 0.768 0.707
</TABLE>
BOND A1 Floating Rate CLASS
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
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>
<S> <C> <C>
CURRENT BALANCE: $16,300,000.00 DATED DATE: 12/01/97
COUPON: 6.480% ucfcmh74 FIRST PAYMENT: 01/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $16,300,000.00 BOND A2 BE-YIELD TABLE YIELD TABLE DATE: 12/23/97
</TABLE>
PREPAYMENT SPEED
PRICING SPEED
<TABLE>
<CAPTION>
175.0% 100.00% 125.00% 150.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 6.567 6.567 6.567 6.567 6.567 6.567 6.567
99-24+ 6.561 6.563 6.563 6.562 6.560 6.560 6.559
99-25 6.555 6.559 6.558 6.556 6.554 6.553 6.551
99-25+ 6.549 6.555 6.553 6.551 6.547 6.545 6.543
99-26 6.543 6.551 6.548 6.546 6.541 6.538 6.536
99-26+ 6.537 6.546 6.543 6.540 6.534 6.531 6.528
99-27 6.531 6.542 6.538 6.535 6.527 6.524 6.520
99-27+ 6.525 6.538 6.534 6.529 6.521 6.516 6.512
99-28 6.519 6.534 6.529 6.524 6.514 6.509 6.504
99-28+ 6.513 6.530 6.524 6.518 6.507 6.502 6.497
99-29 6.507 6.525 6.519 6.513 6.501 6.495 6.489
99-29+ 6.501 6.521 6.514 6.508 6.494 6.487 6.481
99-30 6.495 6.517 6.510 6.502 6.487 6.480 6.473
99-30+ 6.489 6.513 6.505 6.497 6.481 6.473 6.465
99-31 6.483 6.509 6.500 6.491 6.474 6.466 6.457
99-31+ 6.477 6.505 6.495 6.486 6.467 6.458 6.450
100-00 6.471 6.500 6.490 6.480 6.461 6.451 6.442
100-00+ 6.465 6.496 6.486 6.475 6.454 6.444 6.434
100-01 6.458 6.492 6.481 6.470 6.448 6.437 6.426
100-01+ 6.452 6.488 6.476 6.464 6.441 6.430 6.418
100-02 6.446 6.484 6.471 6.459 6.434 6.422 6.411
100-02+ 6.440 6.479 6.466 6.453 6.428 6.415 6.403
100-03 6.434 6.475 6.462 6.448 6.421 6.408 6.395
100-03+ 6.428 6.471 6.457 6.442 6.414 6.401 6.387
100-04 6.422 6.467 6.452 6.437 6.408 6.393 6.379
100-04+ 6.416 6.463 6.447 6.432 6.401 6.386 6.372
100-05 6.410 6.458 6.442 6.426 6.395 6.379 6.364
100-05+ 6.404 6.454 6.438 6.421 6.388 6.372 6.356
100-06 6.398 6.450 6.433 6.415 6.381 6.365 6.348
100-06+ 6.392 6.446 6.428 6.410 6.375 6.357 6.340
100-07 6.386 6.442 6.423 6.405 6.368 6.350 6.333
100-07+ 6.380 6.438 6.418 6.399 6.361 6.343 6.325
First Payment 1.894 2.811 2.394 2.144 1.728 1.561 1.394
Average Life 2.931 4.427 3.780 3.300 2.640 2.404 2.211
Last Payment 4.061 6.144 5.228 4.561 3.644 3.311 3.061
Mod.Dur. @ 100-00 2.580 3.713 3.237 2.870 2.346 2.154 1.993
</TABLE>
BOND A2 AAA/Aaa CLASS
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS,
AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
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>
<S> <C> <C>
CURRENT BALANCE: $10,000,000.00 DATED DATE: 12/01/97
COUPON: 6.585% ucfcmh74 FIRST PAYMENT: 01/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $10,000,000.00 BOND A3 BE-YIELD TABLE YIELD TABLE DATE: 12/23/97
</TABLE>
PREPAYMENT SPEED
PRICING SPEED
<TABLE>
<CAPTION>
175.0% 100.00% 125.00% 150.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 6.674 6.675 6.675 6.675 6.674 6.674 6.674
99-24+ 6.671 6.672 6.672 6.671 6.670 6.670 6.669
99-25 6.667 6.670 6.669 6.668 6.666 6.665 6.664
99-25+ 6.663 6.667 6.666 6.665 6.662 6.660 6.659
99-26 6.659 6.664 6.663 6.661 6.657 6.656 6.654
99-26+ 6.656 6.662 6.660 6.658 6.653 6.651 6.649
99-27 6.652 6.659 6.657 6.654 6.649 6.646 6.644
99-27+ 6.648 6.656 6.654 6.651 6.645 6.642 6.639
99-28 6.644 6.654 6.651 6.648 6.640 6.637 6.634
99-28+ 6.640 6.651 6.648 6.644 6.636 6.633 6.629
99-29 6.637 6.648 6.645 6.641 6.632 6.628 6.624
99-29+ 6.633 6.646 6.642 6.638 6.628 6.623 6.619
99-30 6.629 6.643 6.639 6.634 6.624 6.619 6.614
99-30+ 6.625 6.640 6.636 6.631 6.619 6.614 6.609
99-31 6.621 6.638 6.633 6.627 6.615 6.610 6.604
99-31+ 6.618 6.635 6.630 6.624 6.611 6.605 6.599
100-00 6.614 6.632 6.627 6.621 6.607 6.600 6.594
100-00+ 6.610 6.630 6.624 6.617 6.602 6.596 6.589
100-01 6.606 6.627 6.621 6.614 6.598 6.591 6.584
100-01+ 6.603 6.624 6.618 6.611 6.594 6.587 6.579
100-02 6.599 6.622 6.615 6.607 6.590 6.582 6.574
100-02+ 6.595 6.619 6.612 6.604 6.586 6.577 6.569
100-03 6.591 6.616 6.609 6.601 6.581 6.573 6.564
100-03+ 6.587 6.614 6.606 6.597 6.577 6.568 6.559
100-04 6.584 6.611 6.603 6.594 6.573 6.564 6.554
100-04+ 6.580 6.608 6.600 6.591 6.569 6.559 6.549
100-05 6.576 6.606 6.597 6.587 6.564 6.554 6.545
100-05+ 6.572 6.603 6.594 6.584 6.560 6.550 6.540
100-06 6.569 6.600 6.591 6.580 6.556 6.545 6.535
100-06+ 6.565 6.598 6.588 6.577 6.552 6.541 6.530
100-07 6.561 6.595 6.585 6.574 6.548 6.536 6.525
100-07+ 6.557 6.592 6.582 6.570 6.543 6.531 6.520
First Payment 4.061 6.144 5.228 4.561 3.644 3.311 3.061
Average Life 4.993 7.713 6.604 5.749 4.380 3.968 3.629
Last Payment 6.311 9.811 8.478 7.394 5.228 4.644 4.228
Mod.Dur. @ 100-00 4.118 5.845 5.176 4.628 3.686 3.383 3.128
</TABLE>
BOND A3 AAA/Aaa CLASS
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
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>
<S> <C> <C>
CURRENT BALANCE: $20,500,000.00 DATED DATE: 12/01/97
COUPON: 6.995% ucfcmh74 FIRST PAYMENT: 01/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $20,500,000.00 BOND A4 BE-YIELD TABLE YIELD TABLE DATE: 12/23/97
**** TO CALL ****
</TABLE>
PREPAYMENT SPEED
PRICING SPEED
<TABLE>
<CAPTION>
175.0% 100.00% 125.00% 150.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 7.095 7.095 7.095 7.095 7.094 7.094 7.094
99-24+ 7.093 7.094 7.093 7.093 7.092 7.092 7.091
99-25 7.091 7.092 7.092 7.091 7.090 7.089 7.088
99-25+ 7.089 7.090 7.090 7.089 7.088 7.087 7.086
99-26 7.086 7.089 7.088 7.087 7.085 7.084 7.083
99-26+ 7.084 7.087 7.086 7.085 7.083 7.082 7.080
99-27 7.082 7.085 7.084 7.083 7.081 7.079 7.077
99-27+ 7.080 7.084 7.083 7.082 7.079 7.077 7.075
99-28 7.078 7.082 7.081 7.080 7.076 7.074 7.072
99-28+ 7.076 7.080 7.079 7.078 7.074 7.072 7.069
99-29 7.074 7.079 7.077 7.076 7.072 7.069 7.067
99-29+ 7.072 7.077 7.075 7.074 7.070 7.067 7.064
99-30 7.070 7.075 7.074 7.072 7.067 7.064 7.061
99-30+ 7.068 7.074 7.072 7.070 7.065 7.062 7.058
99-31 7.066 7.072 7.070 7.068 7.063 7.059 7.056
99-31+ 7.064 7.070 7.068 7.066 7.061 7.057 7.053
100-00 7.062 7.068 7.067 7.064 7.058 7.054 7.050
100-00+ 7.060 7.067 7.065 7.062 7.056 7.052 7.047
100-01 7.058 7.065 7.063 7.061 7.054 7.049 7.045
100-01+ 7.056 7.063 7.061 7.059 7.052 7.047 7.042
100-02 7.053 7.062 7.059 7.057 7.049 7.044 7.039
100-02+ 7.051 7.060 7.058 7.055 7.047 7.042 7.037
100-03 7.049 7.058 7.056 7.053 7.045 7.040 7.034
100-03+ 7.047 7.057 7.054 7.051 7.042 7.037 7.031
100-04 7.045 7.055 7.052 7.049 7.040 7.035 7.028
100-04+ 7.043 7.053 7.050 7.047 7.038 7.032 7.026
100-05 7.041 7.052 7.049 7.045 7.036 7.030 7.023
100-05+ 7.039 7.050 7.047 7.043 7.033 7.027 7.020
100-06 7.037 7.048 7.045 7.041 7.031 7.025 7.018
100-06+ 7.035 7.047 7.043 7.040 7.029 7.022 7.015
100-07 7.033 7.045 7.042 7.038 7.027 7.020 7.012
100-07+ 7.031 7.043 7.040 7.036 7.024 7.017 7.009
First Payment 6.311 9.811 8.478 7.394 5.228 4.644 4.228
Average Life 11.656 16.429 14.655 13.113 10.215 8.970 7.912
Last Payment 16.394 21.644 19.728 17.978 14.894 13.644 12.561
Mod.Dur. @ 100-00 7.541 9.290 8.701 8.135 6.888 6.272 5.717
</TABLE>
BOND A4 AAA/Aaa CLASS
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS,
AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
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>
<S> <C> <C>
CURRENT BALANCE: $7,200,000.00 DATED DATE: 12/01/97
COUPON: 7.095% ucfcmh74 FIRST PAYMENT: 01/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $7,200,000.00 BOND M BE-YIELD TABLE YIELD TABLE DATE: 12/23/97
</TABLE>
**** TO CALL ****
PREPAYMENT SPEED
PRICING SPEED
<TABLE>
<CAPTION>
175.0% 100.00% 125.00% 150.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 7.197 7.198 7.197 7.197 7.197 7.197 7.197
99-24+ 7.195 7.196 7.195 7.195 7.195 7.194 7.194
99-25 7.192 7.194 7.193 7.193 7.192 7.192 7.192
99-25+ 7.190 7.192 7.192 7.191 7.190 7.190 7.189
99-26 7.188 7.190 7.190 7.189 7.188 7.187 7.187
99-26+ 7.186 7.189 7.188 7.187 7.185 7.185 7.184
99-27 7.184 7.187 7.186 7.185 7.183 7.182 7.182
99-27+ 7.181 7.185 7.184 7.182 7.181 7.180 7.179
99-28 7.179 7.183 7.182 7.180 7.178 7.178 7.177
99-28+ 7.177 7.181 7.180 7.178 7.176 7.175 7.174
99-29 7.175 7.179 7.178 7.176 7.174 7.173 7.172
99-29+ 7.172 7.178 7.176 7.174 7.171 7.170 7.169
99-30 7.170 7.176 7.174 7.172 7.169 7.168 7.167
99-30+ 7.168 7.174 7.172 7.170 7.167 7.166 7.165
99-31 7.166 7.172 7.170 7.168 7.165 7.163 7.162
99-31+ 7.164 7.170 7.168 7.166 7.162 7.161 7.160
100-00 7.161 7.168 7.166 7.163 7.160 7.158 7.157
100-00+ 7.159 7.167 7.164 7.161 7.158 7.156 7.155
100-01 7.157 7.165 7.162 7.159 7.155 7.154 7.152
100-01+ 7.155 7.163 7.160 7.157 7.153 7.151 7.150
100-02 7.152 7.161 7.158 7.155 7.151 7.149 7.147
100-02+ 7.150 7.159 7.156 7.153 7.148 7.147 7.145
100-03 7.148 7.158 7.154 7.151 7.146 7.144 7.142
100-03+ 7.146 7.156 7.152 7.149 7.144 7.142 7.140
100-04 7.144 7.154 7.150 7.147 7.141 7.139 7.137
100-04+ 7.141 7.152 7.148 7.145 7.139 7.137 7.135
100-05 7.139 7.150 7.146 7.142 7.137 7.135 7.133
100-05+ 7.137 7.149 7.145 7.140 7.135 7.132 7.130
100-06 7.135 7.147 7.143 7.138 7.132 7.130 7.128
100-06+ 7.133 7.145 7.141 7.136 7.130 7.128 7.125
100-07 7.130 7.143 7.139 7.134 7.128 7.125 7.123
100-07+ 7.128 7.141 7.137 7.132 7.125 7.123 7.120
First Payment 5.061 7.228 6.144 5.394 5.061 5.061 5.061
Average Life 10.664 14.690 13.019 11.636 10.028 9.491 9.023
Last Payment 16.394 21.644 19.728 17.978 14.894 13.644 12.561
Mod.Dur. @ 100-00 7.004 8.554 7.945 7.399 6.754 6.530 6.325
</TABLE>
BOND M AA-/Aa3 9% CLASS
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL
INFORMATION IN THE PROSPECTUS SUPPLEMENT.
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>
<S> <C> <C>
CURRENT BALANCE: $6,400,000.00 DATED DATE: 12/01/97
COUPON: 7.405% ucfcmh74 FIRST PAYMENT: 01/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 7
ORIGINAL BALANCE: $6,400,000.00 BOND B1 BE-YIELD TABLE YIELD TABLE DATE: 12/23/97
</TABLE>
PREPAYMENT SPEED
PRICING SPEED
<TABLE>
<CAPTION>
175.0% 100.00% 125.00% 150.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 7.513 7.515 7.514 7.514 7.513 7.513 7.513
99-24+ 7.510 7.513 7.512 7.511 7.510 7.510 7.510
99-25 7.507 7.510 7.509 7.508 7.507 7.507 7.507
99-25+ 7.505 7.508 7.507 7.506 7.504 7.504 7.504
99-26 7.502 7.506 7.504 7.503 7.501 7.501 7.501
99-26+ 7.499 7.504 7.502 7.500 7.498 7.498 7.498
99-27 7.496 7.501 7.500 7.498 7.495 7.495 7.494
99-27+ 7.493 7.499 7.497 7.495 7.493 7.492 7.491
99-28 7.490 7.497 7.495 7.492 7.490 7.489 7.488
99-28+ 7.488 7.495 7.492 7.489 7.487 7.486 7.485
99-29 7.485 7.493 7.490 7.487 7.484 7.483 7.482
99-29+ 7.482 7.490 7.487 7.484 7.481 7.480 7.479
99-30 7.479 7.488 7.485 7.481 7.478 7.477 7.476
99-30+ 7.476 7.486 7.482 7.479 7.475 7.474 7.473
99-31 7.473 7.484 7.480 7.476 7.472 7.471 7.470
99-31+ 7.471 7.482 7.478 7.473 7.469 7.468 7.467
100-00 7.468 7.479 7.475 7.471 7.466 7.465 7.464
100-00+ 7.465 7.477 7.473 7.468 7.463 7.462 7.461
100-01 7.462 7.475 7.470 7.465 7.461 7.459 7.458
100-01+ 7.459 7.473 7.468 7.463 7.458 7.456 7.455
100-02 7.456 7.471 7.465 7.460 7.455 7.453 7.452
100-02+ 7.454 7.468 7.463 7.457 7.452 7.450 7.449
100-03 7.451 7.466 7.461 7.455 7.449 7.447 7.446
100-03+ 7.448 7.464 7.458 7.452 7.446 7.444 7.443
100-04 7.445 7.462 7.456 7.449 7.443 7.441 7.440
100-04+ 7.442 7.460 7.453 7.447 7.440 7.438 7.437
100-05 7.439 7.457 7.451 7.444 7.437 7.435 7.434
100-05+ 7.437 7.455 7.448 7.441 7.434 7.432 7.431
100-06 7.434 7.453 7.446 7.439 7.431 7.430 7.428
100-06+ 7.431 7.451 7.443 7.436 7.429 7.427 7.425
100-07 7.428 7.449 7.441 7.433 7.426 7.424 7.422
100-07+ 7.425 7.446 7.439 7.431 7.423 7.421 7.419
First Payment 5.061 7.228 6.144 5.394 5.061 5.061 5.061
Average Life 7.439 10.661 9.203 8.083 7.180 6.967 6.788
Last Payment 10.478 14.644 12.978 11.478 9.894 9.394 9.061
Mod.Dur. @ 100-00 5.480 7.054 6.384 5.821 5.343 5.228 5.129
</TABLE>
BOND B1 BBB 8% CLASS
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS,
AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
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.
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representation that the above
referenced security will actually perform as described in any scenario
presented.
