<PAGE>
LEHMAN BROTHERS
DERIVED INFORMATION
-------------------------------------------------------------------------------
[GRAPHIC OMITTED]
GREENPOINT MORTGAGE FUNDING, INC.
-------------------------------------------------------------------------------
$353,500,000 SECURITIES
GREENPOINT HOME EQUITY LOAN TRUST 2000-2
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
GREENPOINT MORTGAGE SECURITIES INC.
(SPONSOR)
GREENPOINT MORTGAGE FUNDING, INC.
(SELLER AND SERVICER)
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
-------------------------------------------------------------------------------
GROUP I COLLATERAL SUMMARY
Collateral statistics for the Initial Group I
CONFORMING HELOC / CLOSED END FRMS
Are listed below as of 8/31/00
<TABLE>
<CAPTION>
<S> <C> <C>
TOTAL NUMBER OF LOANS 5,565
TOTAL OUTSTANDING LOAN BALANCE $273,100,681.48
HELOC % / CLOSED END % 84.55% / 15.45%
BALLOON % - CLOSED END 51.74%
AVERAGE DRAWN AMOUNT - HELOC $50,793.77 $0 to $280,197
AVERAGE CREDIT LIMIT - HELOC $66,419 $7,500 to $316,000
WA CREDIT UTILIZATION RATIO - HELOC 76.96% 0% to 100.00%
CURRENT OVERALL WA COUPON 9.133% 2.500% to 16.250%
FULLY INDEXED OVERALL WA COUPON 11.999% 9.500% to 17.500%
WA COUPON - CLOSED END 12.004%
WA MARGIN 2.956% 0.000% to 8.000%
LIFE CAP - HELOC 18.000%
WA MONTHS TO NEXT RATE ADJUSTMENT 2
WA LOAN AGE (MONTHS) 2 0 to 20
WA REMAINING TERM (MONTHS) 199 120 to 300
WA CLTV 81.80% 5.52% to 100.00%
WA FICO 697 598 to 813
WA JUNIOR MORTGAGE RATIO 24.36% 3.72% to 90.08%
LIEN POSITION (FIRST/SECOND) 1.77% / 98.23%
PROPERTY TYPE
SINGLE FAMILY 72.09%
PUD 15.10%
CONDO 8.05%
DUPLEX 2.90%
3 FAMILY 1.16%
4 FAMILY 0.69%
OCCUPANCY STATUS
OWNER OCCUPIED 100.00%
</TABLE>
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
-------------------------------------------------------------------------------
GROUP I COLLATERAL SUMMARY
Collateral statistics for the Initial Group I
CONFORMING HELOC / CLOSED END FRMS (Continued)
-------------------------------------------------------------------------------
<TABLE>
<CAPTION>
<S> <C> <C>
LOAN DOCUMENTATION
NO INCOME VERIFICATION 62.52%
FULL 34.02%
NO RATIO 3.34%
NO INCOME/NO ASSET 0.12%
NO INCOME, EMPLOYMENT, OR ASSET VERIFICATION 0.00%
LOAN PURPOSE
CASH OUT REFINANCE 76.10%
PURCHASE 22.30%
RATE/TERM REFINANCE 1.60%
GEOGRAPHIC DISTRIBUTION
other states account individually for less than CA 74.64%
5% of pool balance
</TABLE>
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
-------------------------------------------------------------------------------
GROUP I COLLATERAL SUMMARY
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
<TABLE>
<CAPTION>
PRODUCT - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Heloc 4,546 230,908,471.17 84.55
Closed-End 1,019 42,192,210.31 15.45
---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,565 273,100,681.48 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
OUTSTANDING PRINCIPAL BALANCES - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
($) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0 22 0 0.00
0.01 - 2,500.00 90 135,045.91 0.05
2,500.01 - 5,000.00 61 225,882.32 0.08
5,000.01 - 7,500.00 51 316,935.07 0.12
7,500.01 - 10,000.00 94 888,558.45 0.33
10,000.01 - 15,000.00 354 4,514,169.76 1.65
15,000.01 - 20,000.00 451 8,057,629.87 2.95
20,000.01 - 30,000.00 1,037 25,929,278.69 9.49
30,000.01 - 40,000.00 786 27,663,049.68 10.13
40,000.01 - 50,000.00 819 37,892,641.00 13.87
50,000.01 - 60,000.00 365 20,346,195.35 7.45
60,000.01 - 70,000.00 297 19,419,370.15 7.11
70,000.01 - 80,000.00 237 17,882,720.86 6.55
80,000.01 - 90,000.00 151 12,903,284.71 4.72
90,000.01 - 100,000.00 315 30,796,625.26 11.28
100,000.01 - 150,000.00 276 34,975,356.64 12.81
150,000.01 - 200,000.00 120 21,845,485.64 8.00
200,000.01 - 250,000.00 38 9,028,255.12 3.31
250,000.01 - 300,000.00 1 280,197.00 0.10
---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,565 273,100,681.48 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
-------------------------------------------------------------------------------
GROUP I COLLATERAL SUMMARY
-------------------------------------------------------------------------------
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
CURRENT LOAN RATES - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(%) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
2.001 - 2.500 1 32,000.00 0.01
4.001 - 4.500 2 80,999.50 0.03
5.001 - 5.500 1 56,878.74 0.02
5.501 - 6.000 2,656 135,127,298.71 49.48
6.001 - 6.500 2 49,256.48 0.02
8.001 - 8.500 4 124,230.24 0.05
8.501 - 9.000 3 102,465.33 0.04
9.001 - 9.500 261 11,782,270.26 4.31
9.501 - 10.000 105 5,322,261.94 1.95
10.001 - 10.500 177 7,306,376.81 2.68
10.501 - 11.000 172 7,818,666.41 2.86
11.001 - 11.500 149 7,383,327.08 2.70
11.501 - 12.000 226 13,914,307.35 5.09
12.001 - 12.500 353 17,679,646.01 6.47
12.501 - 13.000 329 13,801,442.83 5.05
13.001 - 13.500 334 15,646,553.57 5.73
13.501 - 14.000 466 20,296,258.43 7.43
14.001 - 14.500 280 14,484,255.77 5.30
14.501 - 15.000 39 1,835,526.89 0.67
15.001 - 15.500 3 171,628.72 0.06
15.501 - 16.000 1 24,644.87 0.01
16.001 - 16.500 1 60,385.54 0.02
---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,565 273,100,681.48 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
GROUP I COLLATERAL SUMMARY
---------------------------------------------------------------------------------------------------------------------
ORIGINAL TERMS - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(MONTHS) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
120 2 60,856.10 0.02
180 4,580 225,647,623.21 82.62
300 983 47,392,202.17 17.35
---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,565 273,100,681.48 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
MONTHS REMAINING TO SCHEDULED MATURITY - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(MONTHS) MORTGAGE LOANS % OF POOL
PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
109 - 120 2 60,856.10 0.02
157 - 168 1 27,529.86 0.01
169 - 180 4,579 225,620,093.35 82.61
289 - 300 983 47,392,202.17 17.35
---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,565 273,100,681.48 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
LOAN AGE - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(MONTHS) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0 2,660 124,727,489.68 45.67
1 - 12 2,904 148,345,661.94 54.32
13 - 24 1 27,529.86 0.01
---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,565 273,100,681.48 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
fs
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
GROUP I COLLATERAL SUMMARY
---------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------
COMBINED LOAN-TO-VALUE RATIO - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(%) MORTGAGE LOANS % OF POOL
PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
5.01 - 10.00 2 39,936.13 0.01
10.01 - 15.00 7 227,421.55 0.08
15.01 - 20.00 13 557,291.80 0.20
20.01 - 25.00 16 757,292.95 0.28
25.01 - 30.00 18 1,207,361.99 0.44
30.01 - 35.00 31 1,861,802.68 0.68
35.01 - 40.00 27 1,286,598.32 0.47
40.01 - 45.00 32 1,600,289.00 0.59
45.01 - 50.00 66 3,978,064.77 1.46
50.01 - 55.00 99 5,275,996.13 1.93
55.01 - 60.00 102 6,418,954.69 2.35
60.01 - 65.00 144 8,954,649.63 3.28
65.01 - 70.00 237 14,437,441.11 5.29
70.01 - 75.00 310 18,617,611.46 6.82
75.01 - 80.00 890 50,771,385.96 18.59
80.01 - 85.00 385 20,427,346.65 7.48
85.01 - 90.00 1,493 63,907,804.96 23.40
90.01 - 95.00 1,359 58,216,846.23 21.32
95.01 - 100.00 334 14,556,585.47 5.33
---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,565 273,100,681.48 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
LIEN POSITION - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
MORTGAGE LOANS % OF POOL
PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1st Lien 82 4,830,880.96 1.77
2nd Lien 5,483 268,269,800.52 98.23
---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,565 273,100,681.48 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
GROUP I COLLATERAL SUMMARY
---------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------
JUNIOR MORTGAGE RATIO - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(%) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.001 - 5.000 8 337,279.04 0.13
5.001 - 10.000 256 7,438,509.22 2.77
10.001 - 15.000 1,246 43,154,813.00 16.09
15.001 - 20.000 1,442 60,058,446.61 22.39
20.001 - 25.000 1,017 51,233,547.64 19.10
25.001 - 30.000 601 37,629,736.92 14.03
30.001 - 35.000 374 25,253,137.98 9.41
35.001 - 40.000 219 17,412,174.98 6.49
40.001 - 45.000 135 10,259,260.84 3.82
45.001 - 50.000 72 6,358,402.79 2.37
50.001 - 55.000 43 3,047,021.52 1.14
55.001 - 60.000 23 2,380,592.32 0.89
60.001 - 65.000 13 1,108,473.69 0.41
65.001 - 70.000 13 804,943.14 0.30
70.001 - 75.000 11 1,162,445.16 0.43
75.001 - 80.000 1 23,752.00 0.01
80.001 - 85.000 3 216,081.82 0.08
85.001 - 90.000 5 300,720.67 0.11
90.001 - 95.000 1 90,461.18 0.03
---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,483 268,269,800.52 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
GROUP I COLLATERAL SUMMARY
---------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------
CREDIT LIMITS - HELOC MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
($) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.01 - 10,000.00 34 317,109.77 0.14
10,000.01 - 20,000.00 397 5,940,895.48 2.57
20,000.01 - 30,000.00 642 14,638,628.06 6.34
30,000.01 - 40,000.00 536 16,229,218.20 7.03
40,000.01 - 50,000.00 861 31,915,240.81 13.82
50,000.01 - 60,000.00 241 11,851,271.65 5.13
60,000.01 - 70,000.00 257 14,185,421.90 6.14
70,000.01 - 80,000.00 247 14,617,797.65 6.33
80,000.01 - 90,000.00 135 9,055,725.53 3.92
90,000.01 - 100,000.00 617 40,821,506.03 17.68
100,000.01 - 150,000.00 291 30,554,393.53 13.23
150,000.01 - 200,000.00 213 27,611,218.48 11.96
200,000.01 - 250,000.00 72 12,496,369.87 5.41
250,000.01 - 300,000.00 2 393,477.21 0.17
300,000.01 - 350,000.00 1 280,197.00 0.12
---------------------------------------------------------------------------------------------------------------------
TOTAL: 4,546 230,908,471.17 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
CREDIT LIMIT UTILIZATION RATES - HELOC MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(%) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.000 - 10.000 195 627,975.11 0.27
10.001 - 20.000 111 1,547,297.45 0.67
20.001 - 30.000 134 2,714,272.49 1.18
30.001 - 40.000 155 4,338,585.20 1.88
40.001 - 50.000 192 6,599,499.16 2.86
50.001 - 60.000 195 8,532,803.14 3.70
60.001 - 70.000 225 10,275,549.01 4.45
70.001 - 80.000 223 12,626,640.36 5.47
80.001 - 90.000 263 15,812,052.30 6.85
90.001 - 100.000 2,853 167,833,796.95 72.68
---------------------------------------------------------------------------------------------------------------------
TOTAL: 4,546 230,908,471.17 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
GROUP I COLLATERAL SUMMARY
---------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------
MARGINS - HELOC MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(%) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0 648 27,625,186.19 11.96
0.001 - 0.250 17 921,613.18 0.40
0.251 - 0.500 130 5,889,587.11 2.55
0.501 - 0.750 18 935,935.73 0.41
0.751 - 1.000 186 9,015,327.03 3.90
1.001 - 1.250 11 322,584.81 0.14
1.251 - 1.500 112 6,241,439.10 2.70
1.501 - 1.750 84 3,908,594.98 1.69
1.751 - 2.000 68 4,916,093.62 2.13
2.001 - 2.250 93 5,411,196.99 2.34
2.251 - 2.500 206 17,965,927.53 7.78
2.501 - 2.750 166 6,745,598.64 2.92
2.751 - 3.000 302 19,996,927.05 8.66
3.001 - 3.250 275 12,086,669.82 5.23
3.251 - 3.500 143 7,057,882.37 3.06
3.501 - 3.750 485 23,283,746.60 10.08
3.751 - 4.000 114 5,105,034.40 2.21
4.001 - 4.250 618 31,465,116.81 13.63
4.251 - 4.500 155 6,574,551.27 2.85
4.501 - 4.750 506 24,990,369.55 10.82
4.751 - 5.000 98 5,186,591.28 2.25
5.001 - 5.250 83 4,007,726.95 1.74
5.251 - 5.500 11 491,496.79 0.21
5.501 - 5.750 11 530,980.00 0.23
5.751 - 6.000 3 124,940.92 0.05
6.001 - 6.250 1 24,644.87 0.01
6.501 - 6.750 1 60,385.54 0.03
7.751 - 8.000 1 22,322.04 0.01
---------------------------------------------------------------------------------------------------------------------
TOTAL: 4,546 230,908,471.17 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
ORIGINAL DRAW TERM - HELOC MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(%) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
60 3,561 183,449,447.19 79.45
180 985 47,459,023.98 20.55
---------------------------------------------------------------------------------------------------------------------
TOTAL: 4,546 230,908,471.17 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
GROUP I COLLATERAL SUMMARY
---------------------------------------------------------------------------------------------------------------------
STATES - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
AR 1 16,739.55 0.01
AZ 107 4,551,819.10 1.67
CA 3,726 203,850,176.73 74.64
CO 199 7,404,139.76 2.71
CT 24 998,880.64 0.37
DC 6 200,124.24 0.07
DE 4 89,735.00 0.03
FL 117 3,329,749.24 1.22
GA 50 2,080,702.37 0.76
IA 5 123,283.45 0.05
ID 36 855,643.51 0.31
IL 102 3,680,003.68 1.35
IN 5 204,485.03 0.07
KS 4 175,982.03 0.06
MA 184 7,205,062.42 2.64
MD 65 2,662,346.77 0.97
ME 3 81,604.51 0.03
MI 17 463,610.88 0.17
MN 1 43,980.74 0.02
MO 2 72,803.10 0.03
MS 1 24,300.00 0.01
MT 15 448,898.41 0.16
NC 32 1,014,682.57 0.37
NE 2 36,875.77 0.01
NH 9 171,158.12 0.06
NJ 37 1,635,053.31 0.60
NM 22 660,453.92 0.24
NV 73 3,108,237.18 1.14
NY 115 5,618,625.61 2.06
OK 1 34,097.57 0.01
OR 144 5,096,522.06 1.87
PA 29 900,272.49 0.33
RI 9 300,797.99 0.11
SC 17 686,463.00 0.25
SD 3 95,424.66 0.03
TN 1 10,000.00 0.00
UT 90 3,311,967.90 1.21
VA 60 2,504,651.99 0.92
WA 242 9,185,268.48 3.36
WI 3 61,601.60 0.02
WV 1 30,856.10 0.01
WY 1 73,600.00 0.03
---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,565 273,100,681.48 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
GROUP I COLLATERAL SUMMARY
---------------------------------------------------------------------------------------------------------------------
OCCUPANCY TYPE - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Primary 5,565 273,100,681.48 100.00
---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,565 273,100,681.48 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
DOCUMENTATION - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
No Income Verification 3,383 170,753,534.24 62.52
Full 2,009 92,898,255.28 34.02
No Ratio 170 9,116,441.21 3.34
No Income/No Asset 3 332,450.75 0.12
---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,565 273,100,681.48 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
LOAN PURPOSE - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Cash Out Refinance 3,874 207,816,182.32 76.10
Purchase 1,573 60,906,033.08 22.30
Rate/Term Refinance 118 4,378,466.08 1.60
---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,565 273,100,681.48 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
PROPERTY TYPE - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Single Family 3,979 196,884,964.14 72.09
PUD 787 41,241,652.85 15.10
Condo 535 21,992,020.86 8.05
Duplex 162 7,925,071.79 2.90
3 Family 62 3,171,397.68 1.16
4 Family 40 1,885,574.16 0.69
---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,565 273,100,681.48 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
GROUP I COLLATERAL SUMMARY
---------------------------------------------------------------------------------------------------------------------
CREDIT SCORES - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(%) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
<= 550 5 175,264.48 0.06
551 - 600 4 61,762.25 0.02
601 - 650 843 39,815,144.04 14.58
651 - 700 2,317 115,142,810.82 42.16
701 - 750 1,600 80,480,247.92 29.47
751 - 800 767 36,161,898.91 13.24
801 - 850 29 1,263,553.06 0.46
---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,565 273,100,681.48 100.00
---------------------------------------------------------------------------------------------------------------------
Loans with FICO scores below 400 were eliminated from the average.
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
GROUP II COLLATERAL SUMMARY
COLLATERAL STATISTICS FOR THE INITIAL GROUP II
NONCONFORMING HELOC / CLOSED END FRMS
ARE LISTED BELOW AS OF 8/31/00
<TABLE>
<CAPTION>
<S> <C> <C>
TOTAL NUMBER OF LOANS 1,238
TOTAL OUTSTANDING LOAN BALANCE $76,903,843.63
HELOC % / CLOSED END % 84.26% / 15.74%
BALLOON % - CLOSED END 52.49%
AVERAGE DRAWN AMOUNT - HELOC $62,789.44 $0 to $700,000
AVERAGE CREDIT LIMIT - HELOC $99,431.98 $3,800 to $700,000
WA CREDIT UTILIZATION RATIO - HELOC 69.50% 0.000% to 100.000%
CURRENT OVERALL WA COUPON 9.92% 5.875% to 16.000%
FULLY INDEXED OVERALL WA COUPON 12.021% 9.500% to 16.000%
WA COUPON - CLOSED END 12.08%
WA MARGIN 2.99% 0.000% to 6.500%
LIFE CAP - HELOC 18.000%
WA MONTHS TO NEXT RATE ADJUSTMENT 2
WA LOAN AGE (MONTHS) 2 0 to 18
WA REMAINING TERM (MONTHS) 190 162 to 300
WA CLTV 74.87% 5.84% to 180.00%
WA FICO 701 593 to 813
WA JUNIOR MORTGAGE RATIO 33.66% 5.86% to 97.21%
LIEN POSITION (FIRST/SECOND) 2.66% / 97.34%
PROPERTY TYPE
SINGLE FAMILY 71.01%
PUD 14.03%
CONDO 5.87%
DUPLEX 3.05%
3 FAMILY 2.77%
4 FAMILY 3.27%
OCCUPANCY STATUS
OWNER OCCUPIED 68.92%
NON OWNER OCCUPIED 26.41%
SECOND HOME 4.66%
---------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
-------------------------------------------------------------------------------
GROUP II COLLATERAL SUMMARY
COLLATERAL STATISTICS FOR THE INITIAL
GROUP II NONCONFORMING HELOC
/ CLOSED END FRMS
(CONTINUED)
<TABLE>
<CAPTION>
<S> <C> <C>
LOAN DOCUMENTATION
NO INCOME VERIFICATION 70.45%
FULL 26.62%
NO RATIO 2.94%
NO INCOME/NO ASSET 0.00%
LOAN PURPOSE
CASH OUT REFINANCE 86.22%
PURCHASE 11.76%
RATE/TERM REFINANCE 2.02%
GEOGRAPHIC DISTRIBUTION
other states account individually for less than CA 79.32%
5% of pool balance
------------------------------------------------------------ ----------- -------------
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
GROUP II COLLATERAL SUMMARY
---------------------------------------------------------------------------------------------------------------------
PRODUCT - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Heloc 1,032 64,798,701.68 84.26
Closed End 206 12,105,141.95 15.74
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,238 76,903,843.63 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
OUTSTANDING PRINCIPAL BALANCES - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
($) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.00 82 0 0.00
0.01 - 2,500.00 72 51,513.21 0.07
2,500.01 - 5,000.00 19 74,993.75 0.10
5,000.01 - 7,500.00 26 158,426.25 0.21
7,500.01 - 10,000.00 95 922,622.98 1.20
10,000.01 - 15,000.00 116 1,409,485.36 1.83
15,000.01 - 20,000.00 104 1,864,034.50 2.42
20,000.01 - 30,000.00 184 4,655,711.36 6.05
30,000.01 - 40,000.00 104 3,677,505.33 4.78
40,000.01 - 50,000.00 90 4,216,367.18 5.48
50,000.01 - 60,000.00 42 2,327,278.75 3.03
60,000.01 - 70,000.00 28 1,832,530.37 2.38
70,000.01 - 80,000.00 32 2,419,056.71 3.15
80,000.01 - 90,000.00 17 1,476,021.76 1.92
90,000.01 - 100,000.00 39 3,808,802.01 4.95
100,000.01 - 150,000.00 55 7,164,622.81 9.32
150,000.01 - 200,000.00 35 6,171,485.10 8.02
200,000.01 - 250,000.00 15 3,278,545.60 4.26
250,000.01 - 300,000.00 28 8,033,258.47 10.45
300,000.01 - 350,000.00 12 3,992,747.32 5.19
350,000.01 - 400,000.00 17 6,535,276.56 8.50
400,000.01 - 450,000.00 7 3,030,780.22 3.94
450,000.01 - 500,000.00 15 7,402,778.03 9.63
500,000.01 - 550,000.00 1 505,000.00 0.66
550,000.01 - 600,000.00 2 1,195,000.00 1.55
650,000.01 - 700,000.00 1 700,000.00 0.91
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,238 76,903,843.63 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
GROUP II COLLATERAL SUMMARY
---------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------
CURRENT LOAN RATES - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(%) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
5.501 - 6.000 306 29,262,208.88 38.05
8.001 - 8.500 1 50,297.19 0.07
9.001 - 9.500 100 3,403,993.01 4.43
9.501 - 10.000 65 3,570,634.67 4.64
10.001 - 10.500 40 1,852,618.54 2.41
10.501 - 11.000 18 2,081,042.72 2.71
11.001 - 11.500 35 3,404,841.04 4.43
11.501 - 12.000 44 3,566,802.41 4.64
12.001 - 12.500 61 6,093,892.52 7.92
12.501 - 13.000 67 4,652,021.70 6.05
13.001 - 13.500 194 5,767,360.24 7.50
13.501 - 14.000 161 6,542,380.32 8.51
14.001 - 14.500 78 2,703,298.38 3.52
14.501 - 15.000 50 2,928,365.84 3.81
15.001 - 15.500 13 870,063.45 1.13
15.501 - 16.000 5 154,022.72 0.20
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,238 76,903,843.63 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
GROUP II COLLATERAL SUMMARY
---------------------------------------------------------------------------------------------------------------------
ORIGINAL TERMS - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(MONTHS) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
180 1,071 69,384,519.51 90.22
300 167 7,519,324.12 9.78
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,238 76,903,843.63 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
MONTHS REMAINING TO SCHEDULED MATURITY - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(MONTHS) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
157 - 168 2 80,902.12 0.11
169 - 180 1,069 69,303,617.39 90.12
289 - 300 167 7,519,324.12 9.78
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,238 76,903,843.63 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
LOAN AGE - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(MONTHS) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0 565 34,812,550.86 45.27
1 - 12 671 42,010,390.65 54.63
13 - 24 2 80,902.12 0.11
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,238 76,903,843.63 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
GROUP II COLLATERAL SUMMARY
---------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------
COMBINED LOAN-TO-VALUE RATIO - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(%) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
5.01 - 10.00 3 47,378.85 0.06
10.01 - 15.00 1 22,487.83 0.03
15.01 - 20.00 1 120,000.00 0.16
20.01 - 25.00 2 628,860.97 0.82
25.01 - 30.00 6 280,521.63 0.36
30.01 - 35.00 11 906,527.63 1.18
35.01 - 40.00 13 578,032.27 0.75
40.01 - 45.00 9 1,272,351.92 1.65
45.01 - 50.00 15 1,403,844.47 1.83
50.01 - 55.00 29 3,300,774.56 4.29
55.01 - 60.00 40 3,996,398.41 5.20
60.01 - 65.00 58 5,613,330.54 7.30
65.01 - 70.00 81 7,463,656.66 9.71
70.01 - 75.00 87 7,194,237.42 9.35
75.01 - 80.00 236 16,777,679.97 21.82
80.01 - 85.00 55 4,035,474.05 5.25
85.01 - 90.00 463 16,475,093.48 21.42
90.01 - 95.00 105 5,532,262.07 7.19
95.01 - 100.00 22 1,244,930.90 1.62
175.01 - 180.00 1 10,000.00 0.01
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,238 76,903,843.63 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
LIEN POSITION - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1st Lien 28 2,042,885.31 2.66
2nd Lien 1,210 74,860,958.32 97.34
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,238 76,903,843.63 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
GROUP II COLLATERAL SUMMARY
---------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------
JUNIOR MORTGAGE RATIO - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(%) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
5.001 - 10.000 26 331,430.62 0.44
10.001 - 15.000 323 6,489,905.73 8.67
15.001 - 20.000 200 9,132,257.04 12.20
20.001 - 25.000 122 7,249,492.05 9.68
25.001 - 30.000 144 9,469,391.72 12.65
30.001 - 35.000 114 10,338,486.69 13.81
35.001 - 40.000 99 7,739,917.68 10.34
40.001 - 45.000 61 8,027,994.05 10.72
45.001 - 50.000 40 5,504,003.61 7.35
50.001 - 55.000 32 4,729,780.79 6.32
55.001 - 60.000 22 2,705,030.47 3.61
60.001 - 65.000 6 1,002,964.69 1.34
65.001 - 70.000 10 816,715.63 1.09
70.001 - 75.000 2 139,105.86 0.19
75.001 - 80.000 3 476,819.23 0.64
80.001 - 85.000 5 601,248.66 0.80
95.001 - 100.000 1 106,413.80 0.14
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,210 74,860,958.32 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
GROUP II COLLATERAL SUMMARY
---------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------
CREDIT LIMITS - HELOC MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
($) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.01 - 10,000.00 66 577,152.00 0.89
10,000.01 - 20,000.00 148 1,971,094.77 3.04
20,000.01 - 30,000.00 108 2,156,413.26 3.33
30,000.01 - 40,000.00 89 2,514,837.51 3.88
40,000.01 - 50,000.00 135 4,070,173.78 6.28
50,000.01 - 60,000.00 42 1,592,223.56 2.46
60,000.01 - 70,000.00 37 1,432,211.93 2.21
70,000.01 - 80,000.00 41 1,861,505.68 2.87
80,000.01 - 90,000.00 29 1,486,358.21 2.29
90,000.01 - 100,000.00 120 4,665,764.33 7.20
100,000.01 - 150,000.00 48 3,125,085.99 4.82
150,000.01 - 200,000.00 23 2,130,124.44 3.29
200,000.01 - 250,000.00 12 1,268,452.75 1.96
250,000.01 - 300,000.00 47 8,559,358.76 13.21
300,000.01 - 350,000.00 18 4,243,208.01 6.55
350,000.01 - 400,000.00 20 4,961,146.53 7.66
400,000.01 - 450,000.00 12 4,578,293.91 7.07
450,000.01 - 500,000.00 32 11,199,296.26 17.28
500,000.01 - 550,000.00 2 511,000.00 0.79
550,000.01 - 600,000.00 2 1,195,000.00 1.84
650,000.01 - 700,000.00 1 700,000.00 1.08
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,032 64,798,701.68 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
CREDIT LIMIT UTILIZATION RATES - HELOC MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(%) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.000 - 10.000 182 250,021.67 0.39
10.001 - 20.000 23 441,255.75 0.68
20.001 - 30.000 42 1,086,759.40 1.68
30.001 - 40.000 33 1,688,111.77 2.61
40.001 - 50.000 36 1,829,415.78 2.82
50.001 - 60.000 38 2,675,896.84 4.13
60.001 - 70.000 36 2,354,348.56 3.63
70.001 - 80.000 48 5,065,402.55 7.82
80.001 - 90.000 40 3,172,090.13 4.90
90.001 - 100.000 554 46,235,399.23 71.35
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,032 64,798,701.68 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
Group II Collateral Summary
MARGINS - HELOC MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(%) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.000 164 5,067,003.17 7.82
0.001 - 0.250 11 438,495.77 0.68
0.251 - 0.500 60 2,977,500.05 4.59
0.501 - 0.750 13 827,951.36 1.28
0.751 - 1.000 40 1,379,643.67 2.13
1.001 - 1.250 5 392,773.75 0.61
1.251 - 1.500 12 1,596,036.16 2.46
1.501 - 1.750 14 607,529.82 0.94
1.751 - 2.000 17 1,229,073.01 1.90
2.001 - 2.250 18 1,072,018.17 1.65
2.251 - 2.500 47 4,551,724.87 7.02
2.501 - 2.750 21 1,912,113.00 2.95
2.751 - 3.000 66 11,424,111.81 17.63
3.001 - 3.250 32 1,318,291.42 2.03
3.251 - 3.500 39 5,948,951.65 9.18
3.501 - 3.750 179 5,781,138.25 8.92
3.751 - 4.000 27 2,313,231.33 3.57
4.001 - 4.250 114 6,203,602.89 9.57
4.251 - 4.500 36 1,537,258.31 2.37
4.501 - 4.750 56 3,399,985.77 5.25
4.751 - 5.000 15 926,335.03 1.43
5.001 - 5.250 22 1,663,144.23 2.57
5.251 - 5.500 5 632,192.03 0.98
5.501 - 5.750 10 654,508.21 1.01
5.751 - 6.000 3 535,674.52 0.83
6.001 - 6.250 4 404,487.93 0.62
6.251 - 6.500 2 3,925.50 0.01
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,032 64,798,701.68 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
ORIGINAL DRAW TERM - HELOC MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(%) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
60 865 57,279,377.56 88.40
180 167 7,519,324.12 11.60
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,032 64,798,701.68 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
GROUP II COLLATERAL SUMMARY
---------------------------------------------------------------------------------------------------------------------
STATES - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
AZ 53 1,280,020.65 1.66
CA 779 60,997,376.92 79.32
CO 40 1,460,297.80 1.90
CT 8 371,156.94 0.48
DC 4 164,513.47 0.21
FL 26 582,260.64 0.76
GA 10 644,691.25 0.84
ID 4 102,900.00 0.13
IL 33 858,957.04 1.12
IN 3 81,778.12 0.11
MA 50 1,745,685.98 2.27
MD 13 760,155.89 0.99
ME 2 20,691.31 0.03
MI 5 157,923.05 0.21
MN 1 71,500.00 0.09
MT 4 102,065.00 0.13
NC 9 114,383.50 0.15
NH 1 26,090.25 0.03
NJ 4 350,990.00 0.46
NM 6 252,696.38 0.33
NV 20 1,050,791.30 1.37
NY 16 622,100.85 0.81
OK 2 155,414.03 0.20
OR 26 762,545.13 0.99
PA 8 85,838.88 0.11
RI 12 193,477.44 0.25
SC 3 327,992.78 0.43
TN 1 10,000.00 0.01
UT 21 608,029.71 0.79
VA 16 454,482.98 0.59
VT 1 89,929.00 0.12
WA 57 2,397,107.34 3.12
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,238 76,903,843.63 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
GROUP II COLLATERAL SUMMARY
---------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------
PROPERTY TYPE - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Single Family 818 54,607,186.50 71.01
PUD 137 10,786,147.80 14.03
Condo 90 4,511,719.58 5.87
4 Family 60 2,517,927.23 3.27
Duplex 82 2,348,857.52 3.05
3 Family 51 2,132,005.00 2.77
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,238 76,903,843.63 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
OCCUPANCY TYPE - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Primary Home 571 53,005,202.52 68.92
Investment 598 20,312,606.74 26.41
Second Home 69 3,586,034.37 4.66
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,238 76,903,843.63 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
DOCUMENTATION - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
No Income Verification 761 54,175,464.35 70.45
Full 457 20,469,640.49 26.62
No Ratio 19 2,258,738.79 2.94
No Income/No Asset 1 0 0.00
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,238 76,903,843.63 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
LOAN PURPOSE - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Cash Out Refinance 846 66,305,962.00 86.22
Purchase 369 9,043,748.70 11.76
Rate/Term Refinance 23 1,554,132.93 2.02
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,238 76,903,843.63 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
<PAGE>
LEHMAN BROTHERS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
Group II Collateral Summary
---------------------------------------------------------------------------------------------------------------------
CREDIT SCORES - MORTGAGE LOANS
---------------------------------------------------------------------------------------------------------------------
(%) MORTGAGE % OF POOL
LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
551 - 600 2 336,083.19 0.44
601 - 650 111 8,284,937.95 10.77
651 - 700 456 32,149,681.77 41.81
701 - 750 403 24,420,821.67 31.76
751 - 800 249 11,300,512.49 14.69
801 - 850 17 411,806.56 0.54
---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,238 76,903,843.63 100.00
---------------------------------------------------------------------------------------------------------------------
Loans with FICO scores below 400 were eliminated from the average.
</TABLE>
-------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. OFFERS TO SELL AND
SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY , AND THIS
INFORMATION MUST BE READ IN CONJUNCTION WITH, THE FINAL PROSPECTUS SUPPLEMENT
AND THE RELATED PROSPECTUS OR, IF NOT REGISTERED UNDER THE SECURITIES LAWS, THE
FINAL OFFERING MEMORANDUM (THE "OFFERING DOCUMENT"). INFORMATION CONTAINED
HEREIN DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO THE SAME QUALIFICATIONS
AND ASSUMPTIONS, AND SHOULD BE CONSIDERED BY INVESTORS ONLY IN THE LIGHT OF THE
SAME WARNINGS, LACK OF ASSURANCES AND REPRESENTATIONS AND OTHER PRECAUTIONARY
MATTERS, AS DISCLOSED IN THE OFFERING DOCUMENT. INFORMATION REGARDING THE
UNDERLYING ASSETS HAS BEEN PROVIDED BY THE ISSUER OF THE SECURITIES OR AN
AFFILIATE THEREOF AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY LEHMAN BROTHERS
INC. OR ANY AFFILIATE. THE ANALYSES CONTAINED HEREIN HAVE BEEN PREPARED ON THE
BASIS OF CERTAIN ASSUMPTIONS (INCLUDING, IN CERTAIN CASES, ASSUMPTIONS SPECIFIED
BY THE RECIPIENT HEREOF) REGARDING PAYMENTS, INTEREST RATES, LOSSES AND OTHER
MATTERS, INCLUDING, BUT NOT LIMITED TO, THE ASSUMPTIONS DESCRIBED IN THE
OFFERING DOCUMENT. LEHMAN BROTHERS INC., AND ANY OF ITS AFFILIATES, MAKE NO
REPRESENTATION OR WARRANTY AS TO THE ACTUAL RATE OR TIMING OF PAYMENTS ON ANY OF
THE UNDERLYING ASSETS OR THE PAYMENTS OR YIELD ON THE SECURITIES. THIS
INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE
SUPERSEDED BY ANY SUBSEQUENT VERSIONS (INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE OFFERING DOCUMENT).
-------------------------------------------------------------------------------
