<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)
July 31, 1996
ContiMortgage Home Equity Loan Trust 1996-3
(filed on its behalf by ContiSecurities Asset Funding Corp.)
(Exact name of registrant as specified in its charter)
New York 33-99340 Application Pending
-------- -------- -------------------
(State or Other Jurisdiction) (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
c/o Manufacturers and Traders Trust Company
One M & T Plaza
Buffalo, New York 14240
------------------------------ --------------
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (716) 842-4217
No Change
--------------------------------------------------------------------
(Former name or former address, if changed since last report)
Total number of sequentially numbered pages __________
Exhibit index located on sequentially numbered page __________
<PAGE>
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits:
99.1 Computational Materials provided by CS First Boston
in connection with sales efforts related to the
Registrant's securities.
<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 hereunto duly authorized.
CONTISECURITIES ASSET FUNDING CORP.,
as Depositor
By: /s/ James E. Moore
--------------------------------------
Name: James E. Moore
Title: President
By: /s/ Jerome M. Perelson
--------------------------------------
Name: Jerome M. Perelson
Title: Vice President
Dated: July 31, 1996
<PAGE>
EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit No. Description Page No.
<S> <C> <C>
99.1 Computational Materials provided by CS First Boston in
connection with sales efforts related to the Registrant's
securities. _____
</TABLE>
EXHIBIT 99.1
ContiMortgage 1996-3 CS First Boston Computational
Materials
BOND PROFILE SUMMARY
Avg. CBE 1st Last Mod. Legal
Class Original Coupon Life Yield Pay Pay Dur. Final
Name Par (%) (yrs) (%) Price (mm/yy)(mm/yy) (yrs) (mm/yy)
- -----------------------------------------------------------------------------
To Maturity:
A1 136,000,000 6.70 1.00 6.515 100-00 9/96 6/98 0.93 2/11
A2 33,000,000 6.95 2.10 6.909 100-00 6/98 12/98 1.89 7/11
A3 72,000,000 7.15 3.00 7.151 100-00 12/98 5/00 2.61 7/11
A4 30,000,000 7.25 4.12 7.279 100-00 5/00 3/01 3.45 7/11
A5 42,000,000 7.48 5.22 7.528 100-00 3/01 8/02 4.17 8/11
A6 54,000,000 7.75 7.49 7.821 100-00 8/02 2/06 5.47 3/16
A7 33,000,000 8.00 12.05 8.093 100-00 2/06 8/11 7.42 9/27
IO 400,000,000 1.20 3.92 9/96 8/11
A8 150,000,000 FLOAT 4.59 100-00 9/96 3/20 9/27
IO 150,000,000 1.20 4.59 9/96 3/20
- ----------------------------------------
To Call:
A7 33,000,000 8.00 9.57 8.086 100-00 2/06 3/06 6.45 9/27
A8 150,000,000 FLOAT 4.05 100-00 9/96 3/06 9/27
(1) Fixed Rate Certificates (Class A1-A7) Prepayment Curve (PPC)= 110% of PPC. A
100% Prepayment Assumption assumes prepayments start at 4% in month 1, rise
by 1.455 per month to 20% CPR in month 12 at 20% CPR thereafter on a
seasoning adjusted basis.
(2) Adjustable Rate Certificates (Class A8) Prepayment Curve (PPC) = 18% CPR
throughout the life of the collateral.
(3) Coupon and price are assumed for computational materials.
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 CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
<PAGE>
BOND PROFILE SUMMARY
% of PPC: 0% 55% 110% 165% 192.5% 220%
Implied Seasoned CPR: 0% 11% 22% 33% 38.5% 44%
- -----------------------------------------------------------------------------
CLASS A1 $136,000,000; Legal Final 2/11
- -----------------------------------------------------------------------------
TO MATURITY (Assumed Coupon 6.70%; Assumed Price: 100-00)
Bond Yield: 6.75 6.62 6.51 6.43 6.39 6.36
Average Life: 8.06 1.65 1.00 0.76 0.69 0.63
Duration: 5.70 1.50 0.93 0.72 0.65 0.60
First Prin Pay: 9/96 9/96 9/96 9/96 9/96 9/96
Last Prin Pay: 8/10 12/99 6/98 12/97 10/97 9/97
- -----------------------------------------------------------------------------
CLASS A2 $33,000,000; Legal Final 7/11
- -----------------------------------------------------------------------------
TO MATURITY (Assumed Coupon 6.95%; Assumed Price: 100-00)
Bond Yield: 7.02 6.97 6.91 6.85 6.83 6.80
Average Life: 14.67 3.80 2.10 1.49 1.31 1.17
Duration: 8.92 3.24 1.89 1.37 1.21 1.09
First Prin Pay: 8/10 12/99 6/98 12/97 10/97 9/97
Last Prin Pay: 7/11 12/00 12/98 4/98 1/98 12/97
- -----------------------------------------------------------------------------
CLASS A3 $72,000,000; Legal Final 7/11
- -----------------------------------------------------------------------------
TO MATURITY (Assumed Coupon 7.15%; Assumed Price: 100-00)
Bond Yield: 7.23 7.19 7.15 7.11 7.09 7.06
Average Life: 14.90 5.55 3.00 2.05 1.78 1.57
Duration: 8.89 4.42 2.61 1.85 1.62 1.44
First Prin Pay: 7/11 12/00 12/98 4/98 1/98 12/97
Last Prin Pay: 7/11 8/03 5/00 2/99 10/98 7/98
- -----------------------------------------------------------------------------
<PAGE>
ContiMortgage 1996-3 CS First Boston Computational
Materials
BOND PROFILE SUMMARY
% of PPC: 0% 55% 110% 165% 192.5% 220%
Implied Seasoned CPR: 0% 11% 22% 33% 38.5% 44%
- -----------------------------------------------------------------------------
CLASS A4 $30,000,000; Legal Final 7/11
- -----------------------------------------------------------------------------
TO MATURITY (Assumed Coupon 7.25%; Assumed Price: 100-00)
Bond Yield: 7.33 7.31 7.28 7.24 7.23 7.21
Average Life: 14.90 7.68 4.12 2.77 2.35 2.05
Duration: 8.83 5.70 3.45 2.43 2.09 1.84
First Prin Pay: 7/11 8/03 5/00 2/99 10/98 7/98
Last Prin Pay: 7/11 1/05 3/01 9/99 3/99 11/98
- -----------------------------------------------------------------------------
CLASS A5 $42,000,000; Legal Final 8/11
- -----------------------------------------------------------------------------
TO MATURITY (Assumed Coupon 7.48%; Assumed Price: 100-00)
Bond Yield: 7.56 7.55 7.53 7.50 7.48 7.47
Average Life: 14.91 9.66 5.22 3.48 2.96 2.54
Duration: 8.70 6.64 4.17 2.96 2.57 2.24
First Prin Pay: 7/11 1/05 3/01 9/99 3/99 11/98
Last Prin Pay: 8/11 9/07 8/02 8/00 1/00 7/99
- -----------------------------------------------------------------------------
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 CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
<PAGE>
CLASS A6 $54,000,000; Legal Final 3/16
- -----------------------------------------------------------------------------
TO MATURITY (Assumed Coupon 7.75%; Assumed Price: 100-00)
Bond Yield: 7.84 7.84 7.82 7.80 7.79 7.78
Average Life: 16.52 13.29 7.49 4.95 4.19 3.60
Duration: 8.99 8.00 5.47 3.96 3.45 3.03
First Prin Pay: 8/11 9/07 8/02 8/00 1/00 7/99
Last Prin Pay: 1/16 7/11 2/06 11/02 12/01 3/01
- -----------------------------------------------------------------------------
<PAGE>
ContiMortgage 1996-3 CS First Boston Computational
Materials
BOND PROFILE SUMMARY
% of PPC: 0% 55% 110% 165% 192.5% 220%
Implied Seasoned CPR: 0% 11% 22% 33% 38.5% 44%
- -----------------------------------------------------------------------------
CLASS A7 $33,000,000; Legal Final 9/27
- -----------------------------------------------------------------------------
TO MATURITY (Assumed Coupon 8.00%; Assumed Price: 100-00)
Bond Yield: 8.10 8.10 8.09 8.08 8.07 8.07
Average Life: 24.50 15.79 12.05 8.19 6.90 5.90
Duration: 10.33 8.64 7.42 5.75 5.08 4.51
First Prin Pay: 1/16 7/11 2/06 11/02 12/01 3/01
Last Prin Pay: 2/26 10/18 8/11 6/09 6/07 11/05
- ----------------------
CALL (Assumed Coupon 8.00%; Assumed Price: 100-00)
Bond Yield: 8.10 8.10 8.09 8.07 8.06 8.05
Average Life: 24.11 14.90 9.57 6.32 5.32 4.49
Duration: 10.28 8.41 6.45 4.78 4.18 3.63
First Prin Pay: 1/16 7/11 2/06 11/02 12/01 2/01
Last Prin Pay: 8/23 7/11 3/06 12/02 12/01 2/01
- -----------------------------------------------------------------------------
CPR: 0% 9% 18% 27% 31.5% 36%
- -----------------------------------------------------------------------------
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 CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
<PAGE>
CLASS A8 $150,000,000; Legal Final 9/27
- -----------------------------------------------------------------------------
TO MATURITY (Assumed Coupon FLOAT; Assumed Price: 100-00)
Average Life: 21.52 8.55 4.59 2.97 2.48 2.11
First Prin Pay: 9/96 9/96 9/96 9/96 9/96 9/96
Last Prin Pay: 5/26 9/25 3/20 11/12 5/10 5/08
- ----------------------
CALL (Assumed Coupon FLOAT; Assumed Price: 100-00)
Average Life: 21.14 7.39 4.05 2.62 2.20 1.87
First Prin Pay: 9/96 9/96 9/96 9/96 9/96 9/96
Last Prin Pay: 8/23 7/11 3/06 12/02 12/01 2/01
- -----------------------------------------------------------------------------
<PAGE>
ContiMortgage 1996-3 CS First Boston Computational
Materials
FIXED RATE COLLATERAL SUMMARY
Total Number of Loans 5,804 Level Pay/Balloon 46.20%/53.80%
Total Outstanding Loan Balance $342,547,288 1st Lien/2nd Lien 91.71%/ 8.29%
RANGE % TOTAL # LOANS
Avg Loan Balance $ 59,019.17 less than or
equal to 24,999.99 4.65 866
Highest Balance $ 429,250.00 25,000 - 49,999.99 23.39 2,144
Lowest Balance $ 4,627.50 50,000 - 74,999.99 24.79 1,395
75,000 - 99,999.99 16.44 654
100,000 - 199,999.99 25.41 674
200,000 - 429,250.00 5.32 71
RANGE % TOTAL # LOANS
Wtg Avg Coupon 11.85% less than or
equal to 8.99% 2.19 95
Highest Coupon 21.90% 9.00% - 10.99% 31.00 1,522
Lowest Coupon 7.99% 11.00% - 12.99% 46.85 2,605
13.00% - 14.99% 16.23 1,251
15.00% - 16.99% 3.43 297
17.00% - 21.90% .30 34
RANGE LEVEL PAY BALLOON
Wtd Avg Remaining Term 207.05 1 - 120 2.30% .00%
Highest Remaining Term 360 121 - 180 15.21% 53.77%
Lowest Remaining Term 58 181 - 240 18.37% .01%
241 - 360 10.32% .02%
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 CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
<PAGE>
Wtd Avg Seasoning .91
Highest Seasoning 19
Lowest Seasoning 0
RANGE % TOTAL # LOANS
Wtd Avg Orig CLTV 73.87% 0.01% - 65.00% 21.51 1,671
Highest CLTV 125.00% 65.01% - 75.00% 24.49 1,404
Lowest CLTV 7.00% 75.01% - 80.00% 29.21 1,596
80.01% - 85.00% 15.29 779
85.01% - 125.00% 9.49 354
Property Type Occupancy Status
Single Family 87.69% Primary Residence 95.33%
Two to Four Family 9.65% Other 4.67%
Other 2.66%
Geographics NJ 10%, MI 10%, NY 9%, OH 8%, PA 7%, IL 7%
<PAGE>
ContiMortgage 1996-3 CS First Boston Computational
Materials
FLOATING RATE COLLATERAL SUMMARY
Total Number of Loans 1,506 Level Pay/Balloon 99.65%/0.35
Total Outstanding Loan Balance $126,086,840 1st Lien 100.00%
RANGE % TOTAL # LOANS
Avg Loan Balance $ 83,723.00 less than or
equal to 24,999.99 1.04 65
Highest Balance $ 352,359.92 25,000 - 49,999.99 11.40 373
Lowest Balance $ 10,000.00 50,000 - 74,999.99 18.86 384
75,000 - 99,999.99 17.63 256
100,000 - 199,999.99 39.45 370
200,000 - 352,359.92 11.61 58
RANGE % TOTAL # LOANS
Wtg Avg Coupon 10.04 less than or
equal to 7.99% 3.36 36
Highest Coupon 15.55% 8.00% - 8.99% 15.86 192
Lowest Coupon 6.75% 9.00% - 9.99% 37.16 485
10.00% - 10.99% 26.01 417
11.00% - 11.99% 11.87 231
12.00% - 15.55% 5.74 145
RANGE LEVEL PAY BALLOON
Wtd Avg Remaining Term 355.35 1 - 120 .21% .00%
Highest Remaining Term 360 121 - 180 1.29% .11%
Lowest Remaining Term 60 181 - 240 .40% .00%
241 - 360 97.76% .24%
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 CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
<PAGE>
Wtd Avg Seasoning 1.13
Highest Seasoning 19
Lowest Seasoning 0
RANGE % TOTAL # LOANS
Wtd Avg Orig CLTV 74.79% 0.01% - 65.00% 15.42 349
Highest CLTV 93.00% 65.01% - 75.00% 30.83 444
Lowest CLTV 16.00% 75.01% - 80.00% 34.57 485
80.01% - 85.00% 18.09 215
85.01% - 93.00% 1.09 13
Property Type Occupancy Status
Single Family 93.73% Primary Residence 96.76%
Two to Four Family 3.43% Other 3.24%
Other 2.84%
Geographics MI 31%, CA 16%, IL 7%, OH 5%, WA 4%, AZ 4%
FLOATING RATE COLLATERAL SUMMARY CONTINUED
6 Month LIBOR 100.00%
Wtg Avg Months to Next Rate Roll 6.40
RANGE % TOTAL # LOANS
Wtg Avg Margin 6.60% less than or
equal to 3.99% .48 6
Highest Margin 11.13% 4.00% - 4.99% 5.07 51
Lowest Margin 2.88% 5.00% - 5.99% 27.33 342
6.00% - 6.99% 30.40 450
7.00% - 7.99% 26.29 433
8.00% - 11.13% 10.44 224
RANGE % TOTAL # LOANS
Wtg Avg Life Cap 16.36% less than or
equal to 14.99% 10.10 125
Highest Life Cap 21.55% 15.00% - 15.99% 34.89 451
Lowest Life Cap 13.15% 16.00% - 16.99% 30.90 464
17.00% - 17.99% 16.40 289
18.00% - 18.99% 4.72 102
19.00% - 21.55% 2.99 75
CAP VALUE % TOTAL # LOANS
Wtg Avg Periodic Cap 1.05% 1.00% 89.59 1,384
<PAGE>
ContiMortgage 1996-3 CS First Boston Computation
Materials
Highest Periodic Cap 2.00% 1.50% 10.18 120
Lowest Periodic Cap 1.00% 2.00% .24 2
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 CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
<PAGE>
ContiMortgage 1996-3 CS First Boston Computation
Materials
<TABLE>
<CAPTION>
Schedule of Monthly Available Funds Caps for Class A-9 Adjustable Rate Certificates
Assumes 6 month LIBOR remains constant at 5.625%
- --------------------------- -------------------------- -------------------------- --------------------------
MONTHS COUPON CAP MONTHS COUPON CAP MONTHS COUPON CAP MONTHS COUPON CAP
- --------------------------- -------------------------- -------------------------- --------------------------
<S> <C>
7/15/96 9.26
8/15/96 9.26
9/15/96 9.27
10/15/96 9.31
11/15/96 9.69
12/15/96 10.19
1/15/97 10.29
2/15/97 10.29
3/15/97 10.30
4/15/97 10.34
5/15/97 10.70
6/15/97 11.20
7/15/97 11.29
8/15/97 10.80
9/15/97 10.80
10/15/97 10.80
11/15/97 10.94
12/15/97 11.13
1/15/98 11.20
2/15/98 11.20
3/15/98 11.20
4/15/98 11.20
5/15/98 11.20
6/15/98 11.20
7/15/98 11.20
8/15/98 11.20
9/15/98 11.20
</TABLE>
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 CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
<PAGE>
10/15/98 11.20
11/15/98 11.20
12/15/98 11.20
1/15/99 11.20
2/15/99 11.20
3/15/99 11.20
4/15/99 11.20
5/15/99 11.20
6/15/99 11.20
7/15/99 11.20
8/15/99 11.20
9/15/99 11.20
10/15/99 11.20
11/15/99 11.20
12/15/99 11.20
1/15/00 11.20
2/15/00 11.20
3/15/00 11.20
4/15/00 11.20
5/15/00 11.20
6/15/00 11.20
7/15/00 11.20
8/15/00 11.20
9/15/00 11.20
10/15/00 11.20
11/15/00 11.20
12/15/00 11.20
1/15/01 11.20
2/15/01 11.20
3/15/01 11.20
4/15/01 11.20
5/15/01 11.20
6/15/01 11.20
7/15/01 11.20
8/15/01 11.20
9/15/01 11.20
10/15/01 11.20
11/15/01 11.20
12/15/01 11.20
1/15/02 11.20
2/15/02 11.20
3/15/02 11.20
4/15/02 11.20
5/15/02 11.20
6/15/02 11.20
7/15/02 11.20
8/15/02 11.20
9/15/02 11.20
10/15/02 11.20
<PAGE>
ContiMortgage 1996-3 CS First Boston Computational
Materials
11/15/02 11.20
12/15/02 11.20
1/15/03 11.20
2/15/03 11.20
3/15/03 11.20
4/15/03 11.20
5/15/03 11.20
6/15/03 11.20
7/15/03 11.20
8/15/03 11.20
9/15/03 11.20
10/15/03 11.20
11/15/03 11.20
12/15/03 11.20
1/15/04 11.20
2/15/04 11.20
3/15/04 11.20
4/15/04 11.20
5/15/04 11.20
6/15/04 11.20
7/15/04 11.20
8/15/04 11.20
9/15/04 11.20
10/15/04 11.20
11/15/04 11.20
12/15/04 11.20
1/15/05 11.20
2/15/05 11.20
3/15/05 11.20
4/15/05 11.20
5/15/05 11.20
6/15/05 11.20
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 CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
<PAGE>
7/15/05 11.20
8/15/05 11.20
9/15/05 11.20
10/15/05 11.20
11/15/05 11.20
12/15/05 11.20
1/15/06 11.20
2/15/06 11.20
3/15/06 11.20
4/15/06 11.20
5/15/06 11.20
6/15/06 11.20
7/15/06 11.20
8/15/06 11.20
9/15/06 11.20
10/15/06 11.20
11/15/06 11.20
12/15/06 11.20
1/15/07 11.20
2/15/07 11.20
3/15/07 11.20
4/15/07 11.20
5/15/07 11.20
6/15/07 11.20
7/15/07 11.20
8/15/07 11.20
9/15/07 11.20
10/15/07 11.20
11/15/07 11.20
12/15/07 11.20
1/15/08 11.20
2/15/08 11.20
3/15/08 11.20
4/15/08 11.20
5/15/08 11.20
6/15/08 11.20
7/15/08 11.20
8/15/08 11.20
9/15/08 11.20
10/15/08 11.20
11/15/08 11.20
12/15/08 11.20
1/15/09 11.20
2/15/09 11.20
3/15/09 11.21
4/15/09 11.21
5/15/09 11.21
6/15/09 11.21
7/15/09 11.21
<PAGE>
ContiMortgage 1996-3 CS First Boston Computational
Materials
8/15/09 11.21
9/15/09 11.21
10/15/09 11.21
11/15/09 11.21
12/15/09 11.21
1/15/10 11.21
2/15/10 11.21
3/15/10 11.21
4/15/10 11.21
5/15/10 11.21
6/15/10 11.21
7/15/10 11.21
8/15/10 11.21
9/15/10 11.21
10/15/10 11.21
11/15/10 11.21
12/15/10 11.21
1/15/11 11.21
2/15/11 11.21
3/15/11 11.21
(1) Available Funds Cap equals gross WAC on collateral minus 0.59% in months 1
to 12 and minus 1.09% thereafter.
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 CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
<PAGE>
ContiMortgage 1996-3 CS First Boston Computational
Materials
<TABLE>
<CAPTION>
Schedule of Monthly Available Funds Caps for Class A-9 Adjustable Rate Certificates
Assumes 6 month LIBOR remains constant at 5.625%
- --------------------------- -------------------------- -------------------------- --------------------------
MONTHS COUPON CAP MONTHS COUPON CAP MONTHS COUPON CAP MONTHS COUPON CAP
- --------------------------- -------------------------- -------------------------- --------------------------
<S> <C>
4/15/11 11.21
5/15/11 11.21
6/15/11 11.20
7/15/11 11.20
8/15/11 11.20
9/15/11 11.20
10/15/11 11.20
11/15/11 11.20
12/15/11 11.20
1/15/12 11.20
2/15/12 11.20
3/15/12 11.20
4/15/12 11.20
5/15/12 11.20
6/15/12 11.20
7/15/12 11.20
8/15/12 11.20
9/15/12 11.20
10/15/12 11.20
11/15/12 11.20
12/15/12 11.20
1/15/13 11.20
2/15/13 11.20
3/15/13 11.20
4/15/13 11.20
5/15/13 11.20
6/15/13 11.20
7/15/13 11.20
</TABLE>
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 CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
<PAGE>
8/15/13 11.20
9/15/13 11.20
10/15/13 11.20
11/15/13 11.20
12/15/13 11.20
1/15/14 11.20
2/15/14 11.20
3/15/14 11.20
4/15/14 11.20
5/15/14 11.20
6/15/14 11.20
7/15/14 11.20
8/15/14 11.20
9/15/14 11.20
10/15/14 11.20
11/15/14 11.20
12/15/14 11.20
1/15/15 11.20
2/15/15 11.20
3/15/15 11.20
4/15/15 11.20
5/15/15 11.20
6/15/15 11.20
7/15/15 11.20
8/15/15 11.20
9/15/15 11.20
10/15/15 11.20
11/15/15 11.20
12/15/15 11.20
1/15/16 11.20
2/15/16 11.20
3/15/16 11.20
4/15/16 11.20
5/15/16 11.20
6/15/16 11.20
7/15/16 11.20
8/15/16 11.20
9/15/16 11.20
10/15/16 11.20
11/15/16 11.20
12/15/16 11.20
1/15/17 11.20
2/15/17 11.20
3/15/17 11.20
4/15/17 11.20
5/15/17 11.20
6/15/17 11.20
7/15/17 11.20
8/15/17 11.20
<PAGE>
ContiMortgage 1996-3 CS First Boston Computational
Materials
9/15/17 11.20
10/15/17 11.20
11/15/17 11.20
12/15/17 11.20
1/15/18 11.20
2/15/18 11.20
3/15/18 11.20
4/15/18 11.20
5/15/18 11.20
6/15/18 11.20
7/15/18 11.20
8/15/18 11.20
9/15/18 11.20
10/15/18 11.20
11/15/18 11.20
12/15/18 11.20
1/15/19 11.20
2/15/19 11.20
3/15/19 11.20
4/15/19 11.20
5/15/19 11.20
6/15/19 11.20
7/15/19 11.20
8/15/19 11.20
9/15/19 11.20
10/15/19 11.20
11/15/19 11.20
12/15/19 11.20
1/15/20 11.20
2/15/20 11.20
3/15/20 11.20
4/15/20 11.20
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 CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
<PAGE>
5/15/20 11.20
6/15/20 11.20
7/15/20 11.20
8/15/20 11.20
9/15/20 11.20
10/15/20 11.20
11/15/20 11.20
12/15/20 11.20
1/15/21 11.20
2/15/21 11.20
3/15/21 11.20
4/15/21 11.20
5/15/21 11.20
6/15/21 11.20
7/15/21 11.20
8/15/21 11.20
9/15/21 11.21
10/15/21 11.21
11/15/21 11.21
12/15/21 11.21
1/15/22 11.21
2/15/22 11.21
3/15/22 11.21
4/15/22 11.21
5/15/22 11.21
6/15/22 11.21
7/15/22 11.21
8/15/22 11.21
9/15/22 11.21
10/15/22 11.21
11/15/22 11.21
12/15/22 11.21
1/15/23 11.21
2/15/23 11.21
3/15/23 11.21
4/15/23 11.21
5/15/23 11.21
6/15/23 11.21
7/15/23 11.21
8/15/23 11.21
9/15/23 11.21
10/15/23 11.21
11/15/23 11.21
12/15/23 11.21
1/15/24 11.21
2/15/24 11.21
3/15/24 11.21
4/15/24 11.21
5/15/24 11.21
<PAGE>
ContiMortgage 1996-3 CS First Boston Computational
Materials
6/15/24 11.21
7/15/24 11.21
8/15/24 11.21
9/15/24 11.21
10/15/24 11.21
11/15/24 11.21
12/15/24 11.21
1/15/25 11.21
2/15/25 11.22
3/15/25 11.22
4/15/25 11.22
5/15/25 11.22
6/15/25 11.22
7/15/25 11.22
8/15/25 11.22
9/15/25 11.22
10/15/25 11.22
11/15/25 11.21
12/15/25 11.21
1/15/26 11.20
2/15/26 11.17
(1) Available Funds Cap equals gross WAC on collateral minus 0.59% in months 1
to 12 and minus 1.09% thereafter.
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 CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
