<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report - November 8, 2000
---------------------------------
(Date of Earliest Event Reported)
EQUITY ONE ABS, INC.
--------------------------------------------------------------------------------
(Exact Name of Registrant as specified in its charter)
Delaware 333-81237 52-2029487
------------------------ --------------------- -----------------------
(State of Incorporation) (Commission File No.) (IRS Employer I.D. No.)
103 Springer Building, 3411 Silverside Road, Wilmington, Delaware 19803
-----------------------------------------------------------------------
(Address of principal executive offices)
Registrant's telephone number, including area code: (302) 478-6160
<PAGE>
Item 5. Other Events
---------------------
Filing of Computational Materials
---------------------------------
Pursuant to Rule 424(b) under the Securities Act of 1933, subsequent to the
filing of this Current Report on Form 8-K (the "Form 8-K"), Equity One ABS, Inc.
(the "Company") is filing a prospectus and prospectus supplement with the
Securities and Exchange Commission relating to its Mortgage Pass-Through
Certificates, Series 2000-1.
In connection with the offering of the Mortgage Pass-Through
Certificates, Series 2000-1, Banc of America Securities LLC ("BOA"), as
underwriter of the Class A Certificates, has prepared certain materials (the
"BOA Computational Materials") for distribution to its potential investors.
Although the Company provided BOA with certain information regarding the
characteristics of the Loans in the related portfolio, the Company did not
participate in the preparation of the BOA Computational Materials.
For purposes of this Form 8-K, "Computational Materials" shall mean
computer generated tables and/or charts displaying, with respect to any Class or
Classes of Certificates, any of the following: yield; average life; duration;
expected maturity; interest rate sensitivity; loss sensitivity; cash flow
characteristics; background information regarding the Loans; the proposed
structure; decrement tables; or similar information (tabular or otherwise) of a
statistical, mathematical, tabular or computational nature.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
----------------------------------------------------------------------------
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 BOA Computational Materials.
------------
* Capitalized terms used and not otherwise defined herein shall have the
meanings assigned to them in the prospectus and the prospectus supplement of
Equity One ABS, Inc., relating to its Mortgage Pass-Through Certificates, Series
2000-1.
2
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
EQUITY ONE ABS, INC.
By: /s/ James Jenkins
-----------------------------------------
James Jenkins, Chief Financial Officer
Dated: November 8, 2000
3
<PAGE>
Exhibit Index
-------------
Exhibit Page
------- ----
99.1 Banc of America Securities LLC Computational Materials.
4
<PAGE>
Equity One
==========
A POPULAR, INC. COMPANY
Banc of America Securities
Bank of America(R)
[GRAPHIC OMITTED]
--------------------------------------------------------------------------------
**Revised**
RMBS New Issue Term Sheet
$190,000,000 Certificates (approximate)
Equity One Mortgage Pass-Through Trust
2000-1 Offered Classes A-1, A-2, A-3, A-4,
A-5 & A-6
Equity One ABS, Inc.
Depositor
Equity One, Inc.
Servicer
November 3, 2000
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
| | Equity One ABS, Inc. |
| | Mortgage Pass-Through Certificates, Series 2000-1 |
| | $190,000,000 (approximate) |
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Offered Certificates:
---------------------------------------------------------------------------------------------------------------------------------
To Maturity:
---------------------------------------------------------------------------------------------------------------------------------
Expected
Expected Last
Expected Expected Principal Scheduled Expected Ratings
Approximate Interest Principal WAL Window Distribution -------------------
Class Size* Type Type (yrs) (mos) Date Moody's S&P
---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 63,000,000 Fixed SEQ 0.95 1 - 21 01/25/2009 Aaa AAA
A-2 25,000,000 Fixed SEQ 2.22 21 - 30 10/25/2013 Aaa AAA
A-3 38,000,000 Fixed SEQ 3.11 30 - 50 05/25/2015 Aaa AAA
A-4 27,000,000 Fixed SEQ 5.22 50 - 87 07/25/2021 Aaa AAA
A-5** 18,000,000 Fixed SEQ 11.10 87 - 187 01/25/2030 Aaa AAA
A-6 19,000,000 Fixed NAS 6.66 37 - 174 05/25/2015 Aaa AAA
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
To 10% Call:
---------------------------------------------------------------------------------------------------------------------------------
Expected
Expected Last
Expected Expected Principal Scheduled Expected Ratings
Approximate Interest Principal WAL Window Distribution -------------------
Class Size* Type Type (yrs) (mos) Date Moody's S&P
---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 63,000,000 Fixed SEQ 0.95 1 - 21 01/25/2009 Aaa AAA
A-2 25,000,000 Fixed SEQ 2.22 21 - 30 10/25/2013 Aaa AAA
A-3 38,000,000 Fixed SEQ 3.11 30 - 50 05/25/2015 Aaa AAA
A-4 27,000,000 Fixed SEQ 5.22 50 - 87 07/25/2021 Aaa AAA
A-5** 18,000,000 Fixed SEQ 8.69 87- 105 01/25/2030 Aaa AAA
A-6 19,000,000 Fixed NAS 6.54 37 - 105 05/25/2015 Aaa AAA
</TABLE>
* The Approximate Size is subject to a permitted variance in the aggregate of
plus or minus 5%.
** Priced to call.
Structure:
----------
(1) The AMBAC insurance policy will provide an irrevocable and unconditional
financial guarantee of timely payment of interest and ultimate payment of
principal on all Classes.
(2) After the Optional Termination Date, the coupon on the Class A-5
Certificates will increase by 50 bps per annum.
(3) All classes may be subject to a Net WAC Cap as described herein.
<PAGE>
--------------------------------------------------------------------------------
Pricing Speed:
--------------------------------------------------------------------------------
100% PPC 100% PPC assumes that prepayments start at 4% CPR in month
one, increase by approximately 1.455% each month to 20% CPR in
month twelve, and remain at 20% CPR thereafter.
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Placement Agent") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Placement Agent considers reliable, but the Placement Agent does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The Placement
Agent makes no representation regarding the reasonableness of such assumptions
or the likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Placement Agent and their affiliates, officers, directors,
partners and employees, including persons involved in the preparation or
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be superseded
by the information contained in any final prospectus for any securities actually
sold to you. This material is furnished solely by the Placement Agent and not by
the issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Placement Agent are acting as underwriter and not acting as
agent for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
| | Equity One ABS, Inc. |
| | Mortgage Pass-Through Certificates, Series 2000-1 |
| | $190,000,000 (approximate) |
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
<S> <C> <C>
Contact: Banc of America Securities LLC
Mortgage Trading/Syndicate (704) 386-7744 (704) 335-5904 (Fax)
--------------------------
Chris Hentemann (chrishe@ BankofAmerica.com)
Alex Cha (alex.i.cha@ BankofAmerica.com)
Bill Hale (bill.e.hale@ BankofAmerica.com)
Mortgage Finance (704) 388-9668(Fax)
----------------
Shahid Quraishi (704)388-9399
Michael Ciuffo (704) 388-8737 ([email protected])
Vikas Garg (704) 388-3681 ([email protected])
Adam Webb (704) 387-0958 (adam.x.webb@ BankofAmerica.com)
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Placement Agent") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Placement Agent considers reliable, but the Placement Agent does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The Placement
Agent makes no representation regarding the reasonableness of such assumptions
or the likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Placement Agent and their affiliates, officers, directors,
partners and employees, including persons involved in the preparation or
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be superseded
by the information contained in any final prospectus for any securities actually
sold to you. This material is furnished solely by the Placement Agent and not by
the issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Placement Agent are acting as underwriter and not acting as
agent for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
| | Equity One ABS, Inc. |
| | Mortgage Pass-Through Certificates, Series 2000-1 |
| | $190,000,000 (approximate) |
--------------------------------------------------------------------------------
SUMMARY OF TERMS
----------------
Title of Securities: Mortgage Pass-Through Certificates, Series 2000-1.
Offered Certificates: Classes A-1, A-2, A-3, A-4, A-5 and A-6 ("Class A
Certificates").
Retained Certificates: Class X and Class R Certificate.
Servicer: Equity One, Inc.
Depositor: Equity One ABS, Inc.
Trustee & Custodian: The Chase Manhattan Bank.
Certificate Insurer: AMBAC Assurance Corporation.
Rating Agencies: Moody's Investor's Service, Inc. ("Moodys")
and Standard and Poor's ("S&P").
Underwriter: Banc of America Securities LLC.
Closing Date: On or about November 16, 2000.
Registration: DTC, Clearstream, Luxembourg and the Euroclear
System.
Accrued Interest: All Offered Certificates will settle with accrued
interest.
Distribution Dates: The 25th of each month, or if such day is not a
business day, the next succeeding business day,
beginning on December 26, 2000.
Record Date: The last business day in the month preceding the
applicable Distribution Date.
Statistical Calculation Date: The close of business on October 31, 2000.
Cut-off Date: For each Mortgage Loan in the mortgage pool on the
Closing Date (the "Initial Mortgage Loans"), the
close of business October 31, 2000. For each
Mortgage Loan acquired by the trust with funds
from the Pre-funding Account, the later of (i)
the origination date of that Mortgage Loan or
(ii) the first day of the month in which such
loan was acquired.
<PAGE>
Payment Delay: 24 days
Day Count: 30/360
Servicing Fee: 0.50% per annum of the aggregate principal balance
of the Mortgage Loans ("Servicing Fee").
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Placement Agent") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Placement Agent considers reliable, but the Placement Agent does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The Placement
Agent makes no representation regarding the reasonableness of such assumptions
or the likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Placement Agent and their affiliates, officers, directors,
partners and employees, including persons involved in the preparation or
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be superseded
by the information contained in any final prospectus for any securities actually
sold to you. This material is furnished solely by the Placement Agent and not by
the issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Placement Agent are acting as underwriter and not acting as
agent for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
| | Equity One ABS, Inc. |
| | Mortgage Pass-Through Certificates, Series 2000-1 |
| | $190,000,000 (approximate) |
--------------------------------------------------------------------------------
Trustee Fee: 0.02% per annum of the aggregate principal balance
of the Mortgage Loans plus amounts then on deposit
in the Pre-funding Account ("Trustee Fee").
Optional Termination Date: Any Distribution Date on or after which the
aggregate principal balance of the Mortgage Loans
declines to 10% or less of the sum of the
aggregate principal balance of the Initial
Mortgage Loans as of the Cut-off Date ("Cut-off
Date Principal Balance") and the original
Pre-funded Amount.
Denomination: $25,000 and multiples of $1 in excess thereof.
SMMEA Eligibility: The Offered Certificates will not be SMMEA
eligible.
ERISA Eligibility: The Class A Certificates should be ERISA eligible
under Banc of America's administrative exemption
from certain prohibited transaction rules granted
by the Department of Labor unless conditions of
the exemption under the control of the investor
are not met. A fiduciary of any employee benefit
plan subject to ERISA should carefully review with
its legal advisors whether the purchase of the
certificates could give rise to a prohibited
transaction.
Tax Status: The Offered Certificates will be designated as
regular interests in a REMIC and, as such, will be
treated as debt instruments of a REMIC for federal
income tax purposes.
Mortgage Loans: Consist of fixed-rate mortgage loans secured by
first liens on one- to four-family dwellings
("Residential Loans") and mortgage loans secured
by first liens on multi-family properties and
structures which contain both residential dwelling
units and space used for retail, professional or
other commercial uses ("Mixed Use Loans") and,
together with the Residential Loans, the "Mortgage
Loans". The Mortgage Loans will be secured by both
level pay and balloon mortgages.
Initial Mortgage Loan Pool: o The collateral information presented in this
term sheet regarding the initial mortgage pool
is as of the Statistical Calculation Date.
o Consists of 1,879 Mortgage Loans having an
aggregate Cut-off Date Principal Balance of
$154,072,885.38.
<PAGE>
Pre-Funding Amount: A Pre-Funding Account will be established on the
Closing Date into which no more than [$40,000,000]
("Original Pre-Funded Amount") will be deposited
to purchase additional Residential Mortgage Loans.
On or prior to the earlier to occur of (a) an
event of default under the Pooling and Servicing
Agreement and (b) [February 13, 2001] (the
"Pre-Funding Period"), the amounts on deposit in
the Pre-Funding Account will be used to purchase
additional Residential Mortgage Loans (to the
extent available) having similar characteristics
as the initial Residential Mortgage Loans (with
any unused portion of such deposit amount to be
distributed as principal to the Class A
Certificates). See "Description of the Statistical
Calculation Collateral".
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Placement Agent") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Placement Agent considers reliable, but the Placement Agent does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The Placement
Agent makes no representation regarding the reasonableness of such assumptions
or the likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Placement Agent and their affiliates, officers, directors,
partners and employees, including persons involved in the preparation or
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be superseded
by the information contained in any final prospectus for any securities actually
sold to you. This material is furnished solely by the Placement Agent and not by
the issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Placement Agent are acting as underwriter and not acting as
agent for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
| | Equity One ABS, Inc. |
| | Mortgage Pass-Through Certificates, Series 2000-1 |
| | $190,000,000 (approximate) |
--------------------------------------------------------------------------------
Monthly Servicer Advances: The Servicer is required to advance scheduled
principal and interest (net of the Servicing Fee)
for any delinquent Mortgage Loan, but is not
required to make any advance which the Servicer
deems to be nonrecoverable.
Credit Enhancement: Credit enhancement for the structure is provided
by the AMBAC Insurance Policy, excess interest and
overcollateralization. The targeted
overcollateralization amount is expected to be
[3.00%].
AMBAC Insurance Policy: The AMBAC Insurance Policy will guarantee current
payments of interest and ultimate payment of
principal to holders of the Offered Certificates.
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Placement Agent") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Placement Agent considers reliable, but the Placement Agent does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The Placement
Agent makes no representation regarding the reasonableness of such assumptions
or the likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Placement Agent and their affiliates, officers, directors,
partners and employees, including persons involved in the preparation or
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be superseded
by the information contained in any final prospectus for any securities actually
sold to you. This material is furnished solely by the Placement Agent and not by
the issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Placement Agent are acting as underwriter and not acting as
agent for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
| | Equity One ABS, Inc. |
| | Mortgage Pass-Through Certificates, Series 2000-1 |
| | $190,000,000 (approximate) |
--------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS
----------------------
Interest Accrual: o Interest will accrue on the related class
certificate balance at a rate equal to the
lesser of (i) the applicable pass-through rate
and (ii) the Net WAC Cap.
o Interest accrues during the calendar month
prior to the current Distribution Date on a
30/360 basis.
o Interest entitlement will be reduced by the sum
of (i) net prepayment interest shortfalls for
the related due period and (ii) shortfalls in
interest resulting from the application of the
Soldiers and Sailors Relief Act of 1940.
Step-up Coupon: After the Optional Termination Date, the
pass-through rate on the Class A-5 will increase
by 50 bps per annum.
Net WAC Cap: The Net WAC Cap with respect to each Distribution
Date is the weighted average of the mortgage
interest rates (net of the Servicing Fee, Trustee
Fee and the rate at which the Insurer's monthly
premium accrues), weighted on the basis of the
principal balances of the Mortgage Loans as of the
first day of the related interest accrual period.
Net WAC Cap Carryover: For the Class A Certificates on any Distribution
Date, if the applicable pass-through rate is
reduced to the Net WAC Cap, the Class A
Certificates will be entitled to the excess of any
interest that would have accrued at the applicable
pass-through rate (without regard to the Net WAC
Cap) over the interest accrued at the applicable
pass-through rate (as capped by the Net WAC Cap),
together with one-month's interest thereon at the
applicable pass-through rate in the priority
described under "PRIORITY OF DISTRIBUTIONS"
herein.
The amount of any Net WAC Cap Carryover will be
payable only from the Net WAC Cap Account, which
will be established on the Closing Date for such
purpose. The AMBAC Insurance Policy does not cover
any Net WAC Cap Carryover amounts.
<PAGE>
Prepayment Interest For any Distribution Date and any principal
Shortfall: prepayment on a Mortgage Loan received by the
Servicer on or before its due date in the related
due period, the amount, if any, by which one
month's interest at the mortgage interest rate for
such Mortgage Loan exceeds the amount of interest
paid in connection with such prepayment.
Servicer Obligations for The Servicer will be obligated to pay from its own
Prepayment Interest funds Prepayment Interest Shortfalls for any
Shortfalls: prepayment in full on a Mortgage Loan, but only up
to the amount of its Servicing Fee for the related
due period.
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Placement Agent") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Placement Agent considers reliable, but the Placement Agent does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The Placement
Agent makes no representation regarding the reasonableness of such assumptions
or the likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Placement Agent and their affiliates, officers, directors,
partners and employees, including persons involved in the preparation or
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be superseded
by the information contained in any final prospectus for any securities actually
sold to you. This material is furnished solely by the Placement Agent and not by
the issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Placement Agent are acting as underwriter and not acting as
agent for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
| | Equity One ABS, Inc. |
| | Mortgage Pass-Through Certificates, Series 2000-1 |
| | $190,000,000 (approximate) |
--------------------------------------------------------------------------------
PRINCIPAL DISTRIBUTION PRIORITIES
---------------------------------
--------------------------------------------------------------------------------
Principal Priority
--------------------------------------------------------------------------------
Sequential Pay
------------ --------------------------------------------------------------
| | | | | | | |
| Mortgage |---> | Class A-1 | A-2 | A-3 | A-4 | A-5 |
| Loans | | | | | | |
| | | | | | | |
------------ --------------------------------------------------------------
| A-6 (NAS) |
--------------------------------------------------------------
* The Class A-6 will receive principal based on the Class A-6 Principal
Distribution Amount as defined below.
Principal Payments: Payments of principal to the Certificates are derived
primarily from collections of principal from the mortgage
loans.
Class A-6 Principal The Class A-6 Principal Distribution Amount is equal
Distribution Amount: to the Class A-6 Lockout Percentage multiplied by its
pro-rata allocation of the Class A Principal Distribution
Amount.
The Class A-6 Lockout Percentage is equal to the
following:
Month Class A-6 Lockout Percentage
----- ----------------------------
December 2000 to November 2003 0%
December 2003 to November 2005 45%
December 2005 to November 2006 80%
December 2006 to November 2007 100%
December 2007 and thereafter 300%
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Placement Agent") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Placement Agent considers reliable, but the Placement Agent does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The Placement
Agent makes no representation regarding the reasonableness of such assumptions
or the likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Placement Agent and their affiliates, officers, directors,
partners and employees, including persons involved in the preparation or
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be superseded
by the information contained in any final prospectus for any securities actually
sold to you. This material is furnished solely by the Placement Agent and not by
the issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Placement Agent are acting as underwriter and not acting as
agent for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
| | Equity One ABS, Inc. |
| | Mortgage Pass-Through Certificates, Series 2000-1 |
| | $190,000,000 (approximate) |
--------------------------------------------------------------------------------
PRIORITY OF DISTRIBUTIONS
-------------------------
On each Distribution Date the Trustee shall withdraw from the Distribution
Account the funds available for distribution to Certificates, and make the
following disbursements and transfers as described below:
(1) to the Insurer, the Insurer's monthly premium;
(2) to the Trustee, the Trustee Fee and expenses of the Trustee;
(3) to the Servicer, the Servicing Fee and any other reimbursable
amounts;
(4) to the Class A Certificates, current interest on a pro-rata basis;
(5) (a) first, to the Class A-6 Certificates, the Class A-6 Principal
Distribution Amount, and, second, the Principal Distribution Amount,
sequentially to the Class A-1, Class A-2, Class A-3, Class A-4, Class
A-5 and Class A-6 Certificates in that order, until their respective
Class Certificate Balances are reduced to zero;
(6) to the Insurer, any payments due and owing to the Insurer under the
Insurance Agreement other than the Insurer's monthly premium;
(7) any remaining amounts, sequentially to the Class A-1, Class A-2,
Class A-3, Class A-4, Class A-5 and Class A-6 Certificates in that
order, until the overcollateralization target is reached or until
their respective Class Certificate Balances are reduced to zero;
(8) to the Net WAC Cap Account, the required amount if any;
(9) to the Class X Certificateholders, an amount described under the
Pooling and Servicing Agreement;
(10) to the Class R Certificateholders, any remaining amount.
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Placement Agent") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Placement Agent considers reliable, but the Placement Agent does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The Placement
Agent makes no representation regarding the reasonableness of such assumptions
or the likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Placement Agent and their affiliates, officers, directors,
partners and employees, including persons involved in the preparation or
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be superseded
by the information contained in any final prospectus for any securities actually
sold to you. This material is furnished solely by the Placement Agent and not by
the issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Placement Agent are acting as underwriter and not acting as
agent for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
| | Equity One ABS, Inc. |
| | Mortgage Pass-Through Certificates, Series 2000-1 |
| | $190,000,000 (approximate) |
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
DESCRIPTION OF THE STATISTICAL CALCULATION COLLATERAL
TOTAL MORTGAGE LOANS
Summary Total Minimum Maximum
----- ------- -------
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Statistical Calculation Date Aggregate Principal Balance $154,072,885.38
Number of Loans 1,879
Average Original Loan Balance 82,538.04 8,800.00 500,000
Average Cut-Off Loan Balance 81,997.28 5,554.35 499,150.48
*Weighted Average Current LTV 73.34% 14.76% 100.00%
*Weighted Average Gross Coupon 10.367% 8.50% 13.99%
*Weighted Average Remaining Term to Maturity (months) 162.3 17 360
**Weighted Average Credit Score 634 400 841
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
* Weighted Average reflected in Total.
**97.69% of the Mortgage Loans have Credit Scores.
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Percent of Cut-off Date
Range Principal Balance
----- -----------------
<S> <C> <C>
Product Type Fixed 100.00%
Fully Amortizing Mortgage Loans 26.87%
Balloon Mortgage Loans 73.13%
Lien First 100.00%
Property Type Single Family 64.87%
Mixed Use 24.24%
Duplex 4.42%
Condominium 2.36%
Triplex 0.94%
Apartment Building 0.85%
Others 2.31%
Occupancy Status Owner Occupied 63.28%
Non-Owner Occupied 36.72%
Geographic Distribution New Jersey 25.89%
Pennsylvania 23.42%
North Carolina 5.76%
Others 44.93%
Number of States 41
Largest Zip Code Concentration 08226 2.12%
Loans with Prepayment Penalties 46.81%
</TABLE>
<PAGE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Placement Agent") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Placement Agent considers reliable, but the Placement Agent does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The Placement
Agent makes no representation regarding the reasonableness of such assumptions
or the likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Placement Agent and their affiliates, officers, directors,
partners and employees, including persons involved in the preparation or
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be superseded
by the information contained in any final prospectus for any securities actually
sold to you. This material is furnished solely by the Placement Agent and not by
the issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Placement Agent are acting as underwriter and not acting as
agent for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
| | Equity One ABS, Inc. |
| | Mortgage Pass-Through Certificates, Series 2000-1 |
| | $190,000,000 (approximate) |
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
DESCRIPTION OF THE STATISTICAL CALCULATION COLLATERAL
Range of Mortgage Interest Rates
-------------------------------------------------------------------------------------------------------------
Range of Gross Number Of Principal Balance % Of Aggregate
Interest Rates Mortgage Loans Outstanding as of Principal Balance
the Statistical Outstanding as of the
Calculation Date Statistical Calculation Date
-------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
8.251% to 8.500% 22 $ 1,814,999.52 1.18%
8.501% to 8.750% 50 3,876,160.29 2.52
8.751% to 9.000% 98 8,287,783.39 5.38
9.001% to 9.250% 88 6,572,125.10 4.27
9.251% to 9.500% 108 8,567,552.38 5.56
9.501% to 9.750% 161 15,379,969.92 9.98
9.751% to 10.000% 226 18,853,060.46 12.24
10.001% to 10.250% 169 14,093,191.34 9.15
10.251% to 10.500% 188 16,174,918.82 10.50
10.501% to 10.750% 165 13,399,730.88 8.70
10.751% to 11.000% 183 14,951,434.56 9.70
11.001% to 11.250% 103 8,868,706.57 5.76
11.251% to 11.500% 114 8,636,687.82 5.61
11.501% to 11.750% 71 5,213,133.65 3.38
11.751% to 12.000% 45 3,582,988.97 2.33
12.001% to 12.250% 23 1,997,727.72 1.30
12.251% to 12.500% 30 2,008,646.05 1.30
12.501% to 12.750% 14 776,100.30 0.50
12.751% to 13.000% 10 472,650.52 0.31
13.001% to 13.250% 2 122,816.88 0.08
13.251% to 13.500% 1 82,500.00 0.05
13.501% to 13.750% 6 308,224.36 0.20
13.751% to 14.000% 2 31,775.88 0.02
-------------------------------------------------------------------------------------------------------------
TOTAL 1,879 $154,072,885.38 100.00%
=============================================================================================================
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Placement Agent") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Placement Agent considers reliable, but the Placement Agent does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The Placement
Agent makes no representation regarding the reasonableness of such assumptions
or the likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Placement Agent and their affiliates, officers, directors,
partners and employees, including persons involved in the preparation or
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be superseded
by the information contained in any final prospectus for any securities actually
sold to you. This material is furnished solely by the Placement Agent and not by
the issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Placement Agent are acting as underwriter and not acting as
agent for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
| | Equity One ABS, Inc. |
| | Mortgage Pass-Through Certificates, Series 2000-1 |
| | $190,000,000 (approximate) |
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
DESCRIPTION OF THE STATISTICAL CALCULATION COLLATERAL
Current Loan-to-Value
------------------------------------------------------------------------------------------------------------
Range of Number Of Principal Balance % Of Aggregate
Loan To Value Ratios Mortgage Loans Outstanding as of Principal Balance
the Statistical Outstanding as of the
Calculation Date Statistical Calculation Date
------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
10.001% to 15.000% 1 $ 10,034.89 0.01%
15.001% to 20.000% 8 174,937.67 0.11
20.001% to 25.000% 5 187,870.53 0.12
25.001% to 30.000% 9 244,603.24 0.16
30.001% to 35.000% 8 498,397.89 0.32
35.001% to 40.000% 20 1,121,087.44 0.73
40.001% to 45.000% 23 1,564,898.66 1.02
45.001% to 50.000% 38 3,963,071.30 2.57
50.001% to 55.000% 42 3,472,319.43 2.25
55.001% to 60.000% 89 7,767,384.57 5.04
60.001% to 65.000% 126 12,826,190.92 8.32
65.001% to 70.000% 266 21,523,822.75 13.97
70.001% to 75.000% 344 27,126,338.76 17.61
75.001% to 80.000% 597 46,455,393.25 30.15
80.001% to 85.000% 136 12,143,280.04 7.88
85.001% to 90.000% 133 11,918,172.78 7.74
90.001% to 95.000% 20 1,599,047.07 1.04
95.001% to 100.000% 14 1,476,034.19 0.96
------------------------------------------------------------------------------------------------------------
TOTAL 1,879 $154,072,885.38 100.00%
============================================================================================================
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Placement Agent") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Placement Agent considers reliable, but the Placement Agent does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The Placement
Agent makes no representation regarding the reasonableness of such assumptions
or the likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Placement Agent and their affiliates, officers, directors,
partners and employees, including persons involved in the preparation or
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be superseded
by the information contained in any final prospectus for any securities actually
sold to you. This material is furnished solely by the Placement Agent and not by
the issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Placement Agent are acting as underwriter and not acting as
agent for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
| | Equity One ABS, Inc. |
| | Mortgage Pass-Through Certificates, Series 2000-1 |
| | $190,000,000 (approximate) |
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
DESCRIPTION OF THE STATISTICAL CALCULATION COLLATERAL
Statistical Calculation Date Principal Balance
-----------------------------------------------------------------------------------------------------------------
Range of Statistical Number Of Principal Balance % Of Aggregate
Calculation Date Mortgage Loans Outstanding as of Principal Balance
Principal Balances the Statistical Outstanding as of the
Calculation Date Statistical Calculation Date
-----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
$ .01 to 20,000.00 71 $ 1,204,322.48 0.78%
20,000.01 to 30,000.00 184 4,759,896.69 3.09
30,000.01 to 40,000.00 221 7,816,271.04 5.07
40,000.01 to 50,000.00 178 8,078,030.38 5.24
50,000.01 to 60,000.00 192 10,640,144.36 6.91
60,000.01 to 70,000.00 198 12,839,254.14 8.33
70,000.01 to 80,000.00 125 9,397,420.39 6.10
80,000.01 to 90,000.00 112 9,463,317.78 6.14
90,000.01 to 100,000.00 115 11,032,947.25 7.16
100,000.01 to 110,000.00 78 8,134,894.24 5.28
110,000.01 to 120,000.00 71 8,242,505.57 5.35
120,000.01 to 130,000.00 58 7,242,379.37 4.70
130,000.01 to 140,000.00 46 6,241,809.80 4.05
140,000.01 to 150,000.00 36 5,214,975.99 3.38
150,000.01 to 160,000.00 28 4,331,141.42 2.81
160,000.01 to 170,000.00 18 2,971,931.32 1.93
170,000.01 to 180,000.00 24 4,214,328.57 2.74
180,000.01 to 190,000.00 14 2,571,623.23 1.67
190,000.01 to 200,000.00 5 968,401.52 0.63
200,000.01 to 225,000.00 32 6,820,766.40 4.43
225,000.01 to 250,000.00 23 5,442,002.55 3.53
250,000.01 to 275,000.00 15 3,932,086.24 2.55
275,000.01 to 300,000.00 9 2,634,423.76 1.71
300,000.01 to 325,000.00 6 1,891,566.62 1.23
325,000.01 to 350,000.00 6 2,001,567.84 1.30
350,000.01 to 375,000.00 3 1,100,550.07 0.71
375,000.01 to 400,000.00 3 1,198,887.43 0.78
400,000.01 to 425,000.00 2 848,678.43 0.55
450,000.01 to 475,000.00 4 1,844,803.75 1.20
475,000.01 to 500,000.00 2 991,956.75 0.64
-----------------------------------------------------------------------------------------------------------------
TOTAL 1,879 $154,072,885.38 100.00%
=================================================================================================================
</TABLE>
<PAGE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Placement Agent") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Placement Agent considers reliable, but the Placement Agent does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The Placement
Agent makes no representation regarding the reasonableness of such assumptions
or the likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Placement Agent and their affiliates, officers, directors,
partners and employees, including persons involved in the preparation or
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be superseded
by the information contained in any final prospectus for any securities actually
sold to you. This material is furnished solely by the Placement Agent and not by
the issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Placement Agent are acting as underwriter and not acting as
agent for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
| | Equity One ABS, Inc. |
| | Mortgage Pass-Through Certificates, Series 2000-1 |
| | $190,000,000 (approximate) |
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
DESCRIPTION OF THE STATISTICAL CALCULATION COLLATERAL
Remaining Term to Maturity
-------------------------------------------------------------------------------------------------------------
Remaining Term Number Of Principal Balance % Of Aggregate
(Months) Mortgage Loans Outstanding as of Principal Balance
the Statistical Outstanding as of the
Calculation Date Statistical Calculation Date
-------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
0 to 60 320 $36,142,308.15 23.46%
61 to 120 234 25,490,739.59 16.54
121 to 180 949 62,811,837.97 40.77
181 to 240 95 5,055,418.07 3.28
241 to 300 12 1,937,723.69 1.26
301 to 360 269 22,634,857.91 14.69
-------------------------------------------------------------------------------------------------------------
TOTAL 1,879 $154,072,885.38 100.00%
=============================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Credit Score
-------------------------------------------------------------------------------------------------------------
Range of Number Of Principal Balance % Of Aggregate
Credit Scores Mortgage Loans Outstanding as of Principal Balance
the Statistical Outstanding as of the
Calculation Date Statistical Calculation Date
-------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Greater than 750 76 $8,149,286.12 5.29%
701 to 750 218 19,026,856.97 12.35
651 to 700 425 34,057,319.30 22.10
601 to 650 526 42,873,021.43 27.83
551 to 600 375 28,900,228.20 18.76
501 to 550 178 14,239,466.91 9.24
Less than or equal to 500 81 6,826,706.45 4.43
-------------------------------------------------------------------------------------------------------------
TOTAL 1,879 $154,072,885.38 100.00%
=============================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Credit Grade
-------------------------------------------------------------------------------------------------------------
Number Of Principal Balance % Of Aggregate
Credit Grade Mortgage Loans Outstanding as of Principal Balance
the Statistical Outstanding as of the
Calculation Date Statistical Calculation Date
-------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
A 1,430 $119,047,863.94 77.27%
B 439 34,351,375.20 22.30
C 10 673,646.24 0.44
-------------------------------------------------------------------------------------------------------------
TOTAL 1,879 $154,072,885.38 100.00%
=============================================================================================================
</TABLE>
<PAGE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Placement Agent") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Placement Agent considers reliable, but the Placement Agent does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The Placement
Agent makes no representation regarding the reasonableness of such assumptions
or the likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Placement Agent and their affiliates, officers, directors,
partners and employees, including persons involved in the preparation or
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be superseded
by the information contained in any final prospectus for any securities actually
sold to you. This material is furnished solely by the Placement Agent and not by
the issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Placement Agent are acting as underwriter and not acting as
agent for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
| | Equity One ABS, Inc. |
| | Mortgage Pass-Through Certificates, Series 2000-1 |
| | $190,000,000 (approximate) |
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
DESCRIPTION OF THE STATISTICAL CALCULATION COLLATERAL
Property Type
-------------------------------------------------------------------------------------------------------------
Property Type Number Of Principal Balance % Of Aggregate
Mortgage Loans Outstanding as of Principal Balance
the Statistical Outstanding as of the
Calculation Date Statistical Calculation Date
-------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Single Family Detached 1,331 $ 99,951,213.70 64.87%
Mixed Use 317 37,348,537.85 24.24
Duplex 93 6,811,320.82 4.42
Condominium 67 3,632,854.84 2.36
Triplex 16 1,455,918.71 0.94
Apartment Building 9 1,312,639.37 0.85
Townhouse 22 1,183,004.95 0.77
Quadruplex 11 1,058,125.12 0.69
Mobile Home 4 339,703.16 0.22
9 Family/Units 1 318,980.16 0.21
7 Family/Units 1 223,051.76 0.14
6 Family/Units 2 180,842.85 0.12
Row Home 4 138,388.86 0.09
8 Family/Units 1 118,303.23 0.08
-------------------------------------------------------------------------------------------------------------
TOTAL 1,879 $154,072,885.38 100.00%
=============================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Occupancy
-------------------------------------------------------------------------------------------------------------
Occupancy Status Number Of Principal Balance % Of Aggregate
Mortgage Loans Outstanding as of Principal Balance
the Statistical Outstanding as of the
Calculation Date Statistical Calculation Date
-------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Owner Occupied 1,144 $ 97,497,516.08 63.28%
Non-Owner Occupied 735 56,575,369.30 36.72
-------------------------------------------------------------------------------------------------------------
TOTAL 1,879 $154,072,885.38 100.00%
=============================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Documentation
-------------------------------------------------------------------------------------------------------------
Documentation Number Of Principal Balance % Of Aggregate
Mortgage Loans Outstanding as of Principal Balance
the Statistical Outstanding as of the
Calculation Date Statistical Calculation Date
-------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Income Verifiable 1,610 $131,522,006.38 85.36%
Non-Income Verifiable 269 22,550,879.00 14.64
-------------------------------------------------------------------------------------------------------------
TOTAL 1,879 $154,072,885.38 100.00%
=============================================================================================================
</TABLE>
<PAGE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Placement Agent") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Placement Agent considers reliable, but the Placement Agent does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The Placement
Agent makes no representation regarding the reasonableness of such assumptions
or the likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Placement Agent and their affiliates, officers, directors,
partners and employees, including persons involved in the preparation or
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be superseded
by the information contained in any final prospectus for any securities actually
sold to you. This material is furnished solely by the Placement Agent and not by
the issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Placement Agent are acting as underwriter and not acting as
agent for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
| | Equity One ABS, Inc. |
| | Mortgage Pass-Through Certificates, Series 2000-1 |
| | $190,000,000 (approximate) |
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
DESCRIPTION OF THE STATISTICAL CALCULATION COLLATERAL
Mortgage Loan Purpose
-------------------------------------------------------------------------------------------------------------
Purpose Number Of Principal Balance % Of Aggregate
Mortgage Loans Outstanding as of Principal Balance
the Statistical Outstanding as of the
Calculation Date Statistical Calculation Date
-------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Refinance 982 $ 84,302,971.61 54.72%
Purchase 795 63,422,010.27 41.16
Unknown 102 6,347,903.50 4.12
-------------------------------------------------------------------------------------------------------------
TOTAL 1,879 $154,072,885.38 100.00%
=============================================================================================================
</TABLE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Placement Agent") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Placement Agent considers reliable, but the Placement Agent does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The Placement
Agent makes no representation regarding the reasonableness of such assumptions
or the likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Placement Agent and their affiliates, officers, directors,
partners and employees, including persons involved in the preparation or
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be superseded
by the information contained in any final prospectus for any securities actually
sold to you. This material is furnished solely by the Placement Agent and not by
the issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Placement Agent are acting as underwriter and not acting as
agent for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
| | Equity One ABS, Inc. |
| | Mortgage Pass-Through Certificates, Series 2000-1 |
| | $190,000,000 (approximate) |
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
DESCRIPTION OF THE STATISTICAL CALCULATION COLLATERAL
State or Territory Concentration
-------------------------------------------------------------------------------------------------------------
State or Territory Number Of Principal Balance % Of Aggregate
Mortgage Loans Outstanding as of Principal Balance
the Statistical Outstanding as of the
Calculation Date Statistical Calculation Date
-------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
New Jersey 351 $ 39,891,423.93 25.89%
Pennsylvania 571 36,086,262.65 23.42
North Carolina 110 8,874,130.28 5.76
Massachusetts 42 5,833,522.40 3.79
Iowa 91 5,711,954.65 3.71
Washington 46 4,909,406.71 3.19
South Dakota 63 4,491,412.92 2.92
Missouri 70 4,255,846.26 2.76
Ohio 65 4,111,191.38 2.67
Kansas 56 3,798,597.08 2.47
Nebraska 45 3,149,909.18 2.04
Minnesota 26 2,599,429.23 1.69
Colorado 15 2,410,564.06 1.56
Nevada 21 2,341,878.20 1.52
Georgia 22 2,171,020.65 1.41
Delaware 29 2,163,406.75 1.40
Oregon 13 2,113,154.07 1.37
Maryland 28 2,097,745.26 1.36
Oklahoma 32 2,049,729.02 1.33
Rhode Island 18 1,904,405.39 1.24
Idaho 17 1,614,916.08 1.05
Wisconsin 16 1,364,421.02 0.89
Utah 10 1,320,344.73 0.86
Illinois 13 1,174,239.28 0.76
Florida 16 930,234.98 0.60
Montana 10 878,707.07 0.57
New Hampshire 9 830,376.81 0.54
Maine 8 796,294.00 0.52
Arizona 7 506,447.00 0.33
New York 7 498,589.99 0.32
Virginia 7 477,478.48 0.31
New Mexico 5 476,710.13 0.31
Indiana 8 472,906.09 0.31
South Carolina 8 415,427.67 0.27
Tennessee 5 395,030.67 0.26
Kentucky 8 366,144.81 0.24
Michigan 5 312,231.02 0.20
West Virginia 3 112,353.04 0.07
Connecticut 1 61,674.75 0.04
Wyoming 1 52,631.99 0.03
North Dakota 1 50,735.70 0.03
-------------------------------------------------------------------------------------------------------------
TOTAL 1,879 $154,072,885.38 100.00%
=============================================================================================================
</TABLE>
<PAGE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Placement Agent") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Placement Agent considers reliable, but the Placement Agent does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The Placement
Agent makes no representation regarding the reasonableness of such assumptions
or the likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Placement Agent and their affiliates, officers, directors,
partners and employees, including persons involved in the preparation or
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be superseded
by the information contained in any final prospectus for any securities actually
sold to you. This material is furnished solely by the Placement Agent and not by
the issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Placement Agent are acting as underwriter and not acting as
agent for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
| | Equity One ABS, Inc. |
| | Mortgage Pass-Through Certificates, Series 2000-1 |
| | $190,000,000 (approximate) |
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
BOND SUMMARY (to Maturity)
--------------------------
A-1 (To Maturity)
------------------------------------------------------------------------------------------------------------------------------------
Prepayments (PPC) 50% 75% 100% 125% 150% 200% 250%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Average Life (yrs.) 1.54 1.19 0.95 0.81 0.70 0.56 0.47
Modified Duration (yrs.)* 1.39 1.09 0.89 0.76 0.66 0.53 0.44
First Principal Payment Date 12/25/00 12/25/00 12/25/00 12/25/00 12/25/00 12/25/00 12/25/00
Last Principal Payment Date 05/25/03 03/25/03 08/25/02 05/25/02 02/25/02 11/25/01 09/25/01
Payment Windows (mos.) 30 28 21 18 15 12 10
A-2 (To Maturity)
------------------------------------------------------------------------------------------------------------------------------------
Prepayments (PPC) 50% 75% 100% 125% 150% 200% 250%
------------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 3.14 2.56 2.22 1.82 1.55 1.20 0.98
Modified Duration (yrs.)* 2.72 2.26 1.98 1.65 1.42 1.11 0.92
First Principal Payment Date 05/25/03 03/25/03 08/25/02 05/25/02 02/25/02 11/25/01 09/25/01
Last Principal Payment Date 10/25/04 09/25/03 05/25/03 01/25/03 09/25/02 04/25/02 12/25/01
Payment Windows (mos.) 18 7 10 9 8 6 4
A-3 (To Maturity)
------------------------------------------------------------------------------------------------------------------------------------
Prepayments (PPC) 50% 75% 100% 125% 150% 200% 250%
------------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 5.36 3.93 3.11 2.65 2.30 1.78 1.42
Modified Duration (yrs.)* 4.25 3.29 2.68 2.32 2.05 1.61 1.31
First Principal Payment Date 10/25/04 09/25/03 05/25/03 01/25/03 09/25/02 04/25/02 12/25/01
Last Principal Payment Date 11/25/08 11/25/05 01/25/05 02/25/04 08/25/03 01/25/03 08/25/02
Payment Windows (mos.) 50 27 21 14 12 10 9
A-4 (To Maturity)
------------------------------------------------------------------------------------------------------------------------------------
Prepayments (PPC) 50% 75% 100% 125% 150% 200% 250%
------------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 10.82 7.33 5.22 4.18 3.47 2.58 2.07
Modified Duration (yrs.)* 7.04 5.35 4.14 3.45 2.94 2.26 1.85
First Principal Payment Date 11/25/08 11/25/05 01/25/05 02/25/04 08/25/03 01/25/03 08/25/02
Last Principal Payment Date 05/25/15 02/25/11 02/25/08 02/25/06 04/25/05 12/25/03 04/25/03
Payment Windows (mos.) 79 64 38 25 21 12 9
A-5 (To Maturity)
------------------------------------------------------------------------------------------------------------------------------------
Prepayments (PPC) 50% 75% 100% 125% 150% 200% 250%
------------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 15.86 13.48 11.10 8.56 6.51 3.87 2.80
Modified Duration (yrs.)* 8.64 7.93 7.03 5.86 4.79 3.21 2.42
First Principal Payment Date 05/25/15 02/25/11 02/25/08 02/25/06 04/25/05 12/25/03 04/25/03
Last Principal Payment Date 10/25/24 04/25/20 06/25/16 05/25/15 12/25/13 12/25/05 04/25/04
Payment Windows (mos.) 114 111 101 112 105 25 13
A-6 (To Maturity)
------------------------------------------------------------------------------------------------------------------------------------
Prepayments (PPC) 50% 75% 100% 125% 150% 200% 250%
------------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 7.74 7.12 6.66 6.31 6.04 5.48 4.41
Modified Duration (yrs.)* 5.56 5.23 4.98 4.79 4.63 4.28 3.61
First Principal Payment Date 12/25/03 12/25/03 12/25/03 12/25/03 12/25/03 12/25/03 12/25/03
Last Principal Payment Date 05/25/15 05/25/15 05/25/15 05/25/15 10/25/13 05/25/10 04/25/08
Payment Windows (mos.) 138 138 138 138 119 78 53
</TABLE>
*Modified duration calculated assuming a price of 100.00%.
<PAGE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Placement Agent") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Placement Agent considers reliable, but the Placement Agent does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The Placement
Agent makes no representation regarding the reasonableness of such assumptions
or the likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Placement Agent and their affiliates, officers, directors,
partners and employees, including persons involved in the preparation or
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be superseded
by the information contained in any final prospectus for any securities actually
sold to you. This material is furnished solely by the Placement Agent and not by
the issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Placement Agent are acting as underwriter and not acting as
agent for the issuer in connection with the proposed transaction.
<PAGE>
--------------------------------------------------------------------------------
| | Equity One ABS, Inc. |
| | Mortgage Pass-Through Certificates, Series 2000-1 |
| | $190,000,000 (approximate) |
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
BOND SUMMARY (to Call)
A-1 (To Call)
------------------------------------------------------------------------------------------------------------------------------------
Prepayments (PPC) 50% 75% 100% 125% 150% 200% 250%
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Average Life (yrs.) 1.54 1.19 0.95 0.81 0.70 0.56 0.47
Modified Duration (yrs.)* 1.39 1.09 0.89 0.76 0.66 0.53 0.44
First Principal Payment Date 12/25/00 12/25/00 12/25/00 12/25/00 12/25/00 12/25/00 12/25/00
Last Principal Payment Date 05/25/03 03/25/03 08/25/02 05/25/02 02/25/02 11/25/01 09/25/01
Payment Windows (mos.) 30 28 21 18 15 12 10
A-2 (To Call)
------------------------------------------------------------------------------------------------------------------------------------
Prepayments (PPC) 50% 75% 100% 125% 150% 200% 250%
------------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 3.14 2.56 2.22 1.82 1.55 1.20 0.98
Modified Duration (yrs.)* 2.72 2.26 1.98 1.65 1.42 1.11 0.92
First Principal Payment Date 05/25/03 03/25/03 08/25/02 05/25/02 02/25/02 11/25/01 09/25/01
Last Principal Payment Date 10/25/04 09/25/03 05/25/03 01/25/03 09/25/02 04/25/02 12/25/01
Payment Windows (mos.) 18 7 10 9 8 6 4
A-3 (To Call)
------------------------------------------------------------------------------------------------------------------------------------
Prepayments (PPC) 50% 75% 100% 125% 150% 200% 250%
------------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 5.36 3.93 3.11 2.65 2.30 1.78 1.42
Modified Duration (yrs.)* 4.25 3.29 2.68 2.32 2.05 1.61 1.31
First Principal Payment Date 10/25/04 09/25/03 05/25/03 01/25/03 09/25/02 04/25/02 12/25/01
Last Principal Payment Date 11/25/08 11/25/05 01/25/05 02/25/04 08/25/03 01/25/03 08/25/02
Payment Windows (mos.) 50 27 21 14 12 10 9
A-4 (To Call)
------------------------------------------------------------------------------------------------------------------------------------
Prepayments (PPC) 50% 75% 100% 125% 150% 200% 250%
------------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 10.82 7.33 5.22 4.18 3.47 2.58 2.07
Modified Duration (yrs.)* 7.04 5.35 4.14 3.45 2.94 2.26 1.85
First Principal Payment Date 11/25/08 11/25/05 01/25/05 02/25/04 08/25/03 01/25/03 08/25/02
Last Principal Payment Date 05/25/15 02/25/11 02/25/08 02/25/06 04/25/05 12/25/03 04/25/03
Payment Windows (mos.) 79 64 38 25 21 12 9
A-5 (To Call)
------------------------------------------------------------------------------------------------------------------------------------
Prepayments (PPC) 50% 75% 100% 125% 150% 200% 250%
------------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 14.53 10.60 8.69 6.57 5.29 3.81 2.80
Modified Duration (yrs.)* 8.30 6.90 6.05 4.93 4.16 3.17 2.42
First Principal Payment Date 05/25/15 02/25/11 02/25/08 02/25/06 04/25/05 12/25/03 04/25/03
Last Principal Payment Date 05/25/15 06/25/11 08/25/09 11/25/07 08/25/06 04/25/05 03/25/04
Payment Windows (mos.) 1 5 19 22 17 17 12
A-6 (To Call)
------------------------------------------------------------------------------------------------------------------------------------
Prepayments (PPC) 50% 75% 100% 125% 150% 200% 250%
------------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 7.74 7.06 6.54 5.88 5.16 4.22 3.34
Modified Duration (yrs.)* 5.56 5.21 4.93 4.55 4.12 3.50 2.86
First Principal Payment Date 12/25/03 12/25/03 12/25/03 12/25/03 12/25/03 12/25/03 12/25/03
Last Principal Payment Date 05/25/15 06/25/11 08/25/09 11/25/07 08/25/06 04/25/05 03/25/04
Payment Windows (mos.) 138 91 69 48 33 17 4
</TABLE>
*Modified duration calculated assuming a price of 100.00%.
<PAGE>
Banc of America Securities LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Placement Agent") is not soliciting any action
based upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Placement Agent considers reliable, but the Placement Agent does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The Placement
Agent makes no representation regarding the reasonableness of such assumptions
or the likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Placement Agent and their affiliates, officers, directors,
partners and employees, including persons involved in the preparation or
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be superseded
by the information contained in any final prospectus for any securities actually
sold to you. This material is furnished solely by the Placement Agent and not by
the issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Placement Agent are acting as underwriter and not acting as
agent for the issuer in connection with the proposed transaction.
