<PAGE> 1
EXHIBIT 99.1
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
will be superseded by information contained in term sheets circulated after the
date hereof and by information contained in the Prospectus and Prospectus
Supplement for this transaction. An offering may be made only through the
delivery of the Prospectus and Prospectus Supplement.
PRELIMINARY TERM SHEET DATE PREPARED: JULY 20, 2000
MELLON RESIDENTIAL FUNDING CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2000-TBC3
=====================================================
THE BOSTON COMPANY
=====================================================
$484,155,100 (APPROXIMATE, SUBJECT TO FINAL COLLATERAL)
PUBLICLY OFFERED CERTIFICATES
ADJUSTABLE RATE RESIDENTIAL MORTGAGE LOANS
<TABLE>
<CAPTION>
===================================================================================================================================
WAL Payment Window
Principal (1) To Put/Mat To Put/Mat Initial Interest Expected Ratings
Class Amount (Approx.) (Years) (3) (Months) (3) Rate Type Tranche Type Moody's/S&P (7)
------ ---------------- ----------- ------------ --------- ------------- ---------------
<S> <C> <C> <C> <C> <C> <C>
A-1 $474,855,000 1.63/4.13 1 - 24/1 - 363 Floater (4) Senior Aaa/AAAr
X (2) N/A N/A IO (5) Senior/Interest Only Aaa/AAAr
A-R 100 N/A N/A WAC Senior/Residual NR/AAAr
B-1 4,895,000 2.00/15.18 24 - 24/121 - 363 WAC (6) Subordinate Aa2/AAr
B-2 1,958,000 2.00/15.18 24 - 24/121 - 363 WAC (6) Subordinate A2/Ar
B-3 2,447,000 2.00/15.18 24 - 24/121 - 363 WAC (6) Subordinate Baa2/BBBr
B-4 2,203,000 Privately WAC (6) Subordinate Ba2/BBr
B-5 1,469,000 Placed WAC (6) Subordinate B2/Br
B-6 1,715,267 Certificates WAC (6) Subordinate NR/NR
===================================================================================================================================
TOTAL $489,542,367
</TABLE>
(1) The Certificates (as described herein) are collateralized by a pool of
adjustable rate residential mortgage loans. Class sizes are subject to
final collateral and rating agency approval.
(2) The Class X Certificates will have no principal balance and will bear
interest on the notional amount, which is equal to the aggregate principal
balance of the Mortgage Loans plus any Prefunding Amount. The Class X
Certificates will not be entitled to receive any distributions of
principal.
(3) As described further herein, the Class A-1 and the Subordinate Certificates
may be put to Mellon Bank, N.A. under certain circumstances.
(4) The Class A-1 Certificates will initially have a coupon equal to One Month
LIBOR plus a margin, subject to the lesser of (i) the Net WAC of the
Mortgage Loans and (ii) 10%, adjusted for the related accrual period. On
each Distribution Date after the Put Date (as described herein), the
Certificate Interest Rate for the Class A-1 Certificates will equal One
Month LIBOR plus double the initial margin subject to the lesser of (i) the
Net WAC of the Mortgage Loans and (ii) 10%, adjusted for the related
accrual period. The Net WAC and the net weighted average maximum rate of
the Mortgage Loans will be approximately 7.665% and 10.525% respectively
for the first Distribution Date.
(5) The Class X Certificates will receive the positive difference between the
Net WAC of the Mortgage Loans and the weighted average of the Certificate
Interest Rates (adjusted for the different accrual periods).
(6) The Certificate Interest Rate for the Subordinate Certificates will be
equal to the Net WAC of the Mortgage Loan (before and after the Put Date),
subject to the amount of available funds.
(7) In addition, ratings of P-1 and A-1+ by Moody's and S&P, respectively, will
be implied to each Class of Offered Certificates (other than the Class A-R
and Class X Certificates) reflecting the creditworthiness of Mellon Bank,
N.A. to fulfill its obligations with respect to the Put Option (as
described herein).
GREENWITCH CAPITAL
-------------------------------------------------------------------------------
MELLON FINANCIAL MARKETS, LLC
1
<PAGE> 2
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
will be superseded by information contained in term sheets circulated after the
date hereof and by information contained in the Prospectus and Prospectus
Supplement for this transaction. An offering may be made only through the
delivery of the Prospectus and Prospectus Supplement.
Underwriters: Greenwich Capital Markets, Inc. and Mellon Financial
Markets, LLC.
Seller and
Master Servicer: Boston Safe Deposit and Trust ("THE BOSTON COMPANY").
Trustee: Wells Fargo Bank Minnesota, N.A.
Statistical Cut-off Date: July 1, 2000.
Initial Cut-off Date: August 1, 2000.
Pricing Date: On or about July [21], 2000.
Closing Date: On or about August 15, 2000.
Certificates: The "SENIOR CERTIFICATES" will consist of (i) the
Class A-1 Certificates, the Class X Certificates and
the Class A-R Certificate. The "SUBORDINATE
CERTIFICATES" will consist of the Class B-1, Class
B-2, Class B-3, Class B-4, Class B-5 and Class B-6
Certificates. The Senior Certificates and the
Subordinate Certificates are collectively referred to
herein as the "CERTIFICATES". Only the Senior
Certificates and the Class B-1, Class B-2 and Class
B-3 Certificates (collectively, the "OFFERED
CERTIFICATES") are being offered publicly.
Accrued Interest: The Class A-1 Certificates will settle flat. The
price to be paid by investors for the Class X, Class
A-R, Class B-1, Class B-2 and Class B-3 Certificates
will include accrued interest from August 1, 2000
(the "INITIAL CUT-OFF DATE") up to, but not
including, the Closing Date (14 days).
Interest Accrual Period: The interest accrual period with respect to the Class
A-1 Certificates for a given Distribution Date will
be the period beginning with the previous
Distribution Date (or, in the case of the first
Distribution Date, the Closing Date) and ending on
the day prior to such Distribution Date (on an
Actual/360 basis). The interest accrual period for
the Class X, Class A-R, and the Subordinate
Certificates will be the calendar month preceding the
month in which such Distribution Date occurs (on a
30/360 basis). One Month LIBOR on the Class A-1
Certificates will be set two business days prior to
the first day of the related interest accrual period.
Distribution Dates: The 15th day of each month (or the next succeeding
business day), commencing on September 15, 2000.
Registration: The Offered Certificates (except for the Class A-R
Certificate) will be made available in book-entry
form through DTC.
Federal Tax Treatment: It is anticipated that the Offered Certificates
(except for the Class A-R and Class X Certificates)
will each be treated in part as a REMIC regular
interest and in part as ownership of a put option for
tax purposes. The Class X Certificates will be
treated as REMIC regular interests. The Class A-R
Certificate will be treated as a REMIC residual
interest for tax purposes.
GREENWITCH CAPITAL
-------------------------------------------------------------------------------
MELLON FINANCIAL MARKETS, LLC
2
<PAGE> 3
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
will be superseded by information contained in term sheets circulated after the
date hereof and by information contained in the Prospectus and Prospectus
Supplement for this transaction. An offering may be made only through the
delivery of the Prospectus and Prospectus Supplement.
ERISA Eligibility: The Senior Certificates (except for the Class A-R
Certificate) are expected to be ERISA eligible.
Prospective investors should review with their legal
advisors whether the purchase and holding of the
Offered Certificates could give rise to a transaction
prohibited or not otherwise permissible under ERISA,
the Code or other similar laws.
SMMEA Treatment: Upon the termination of the Prefunding Period, the
Senior Certificates and the Class B-1 Certificates
are expected to constitute "mortgage related
securities" for purposes of SMMEA.
Put Option: During the 5 business day period ending on the
Distribution Date in June 2002 each of the
Certificateholders (with the exception of the holders
of the Class X Certificates or the Class A-R
Certificate) will have the option to require Mellon
Bank, N.A. ("MELLON BANK") to purchase such
Certificateholder's Certificates of the related Class
on the Distribution Date in August 2002 (the "PUT
DATE"). For the Offered Certificates, the repurchase
price will be par (based on the outstanding
certificate balance) plus accrued interest.
Clean-Up Option: If the Put Option is exercised with respect to more
than 90% of the aggregate outstanding principal
balance of the putable certificates, Mellon Bank will
have the option to purchase all of the outstanding
putable certificates, including putable certificates
with respect to which the applicable
certificateholder has not exercised the Put Option.
Optional Termination: The terms of the transaction allow for a termination
of the Offered Certificates which may be exercised
once the current principal balance of the Mortgage
Loans is equal to 10% or less of the initial
principal balance of the Initial Mortgage Loans as of
the Initial Cut-off Date plus the initial Prefunding
Amount.
Pricing Prepayment
Speed: The Offered Certificates (other than the Class X
Certificates) will be priced to a prepayment speed of
20% CPR.
Rating Agencies: Moody's will rate all of the Offered Certificates
(except for the Class A-R Certificate). S&P will rate
all of the Offered Certificates.
Initial Mortgage Loans: As of the Statistical Cut-off Date, the initial
aggregate principal balance of the Initial Mortgage
Loans (the "INITIAL POOL BALANCE") was approximately
$389,542,367, which consists of adjustable rate
mortgage loans with various indices. From the
Statistical Cut-off Date to the Initial Cut-off Date,
the principal balance of the Initial Mortgage Loans
may be reduced by principal prepayments. The Initial
Mortgage Loans are secured by first liens on one- to
four-family residential properties. Approximately
49.67% and 49.21% of the Initial Mortgage Loans are
modifiable and convertible, respectively. If a
borrower with such a Mortgage Loan exercises his or
her right to convert or modify such Mortgage Loan's
terms, the Seller will be obligated to repurchase
such Mortgage Loan. For further information, please
see the attached collateral description of the
Initial Mortgage Loans.
GREENWITCH CAPITAL
-------------------------------------------------------------------------------
MELLON FINANCIAL MARKETS, LLC
3
<PAGE> 4
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
will be superseded by information contained in term sheets circulated after the
date hereof and by information contained in the Prospectus and Prospectus
Supplement for this transaction. An offering may be made only through the
delivery of the Prospectus and Prospectus Supplement.
Prefunding Amount: A deposit of approximately $100,000,000 (the initial
"PREFUNDING AMOUNT") will be made to the Prefunding
Account on the Closing Date. On or prior to the
Distribution Date in November 2000, (the "PREFUNDING
PERIOD"), the Prefunding Amount on deposit in the
Prefunding Account will be used to purchase
additional mortgage loans (the "SUBSEQUENT MORTGAGE
LOANS") (to the extent available) having similar
characteristics as the One Month LIBOR indexed
Initial Mortgage Loans (with any portion of such
deposit amount remaining on the last day of such
Prefunding Period to be distributed as principal on
the Certificates).
Capitalized Interest
Amount: On the Closing Date, a deposit (the "CAPITAL INTEREST
AMOUNT") will be made to the Capitalized Interest
Account, which will be applied to cover shortfalls in
the amount of interest generated by the Initial
Mortgage Loans due to the prefunding feature, during
the Prefunding Period and the Distribution Date
immediately after the Prefunding Period.
Credit Enhancement: Senior/subordinate, shifting interest structure.
Credit enhancement for the Senior Certificates will
consist of the subordination of the Class B-1, Class
B-2, Class B-3, Class B-4, Class B-5 and Class B-6
Certificates (total subordination initially 3.00%).
Credit enhancement for the Class B-1 Certificates
will consist of the subordination of the Class B-2,
Class B-3, Class B-4, Class B-5 and Class B-6
Certificates (total subordination initially 2.00%).
Credit enhancement for the Class B-2 Certificates
will consist of the subordination of the Class B-3,
Class B-4, Class B-5 and Class B-6 Certificates
(total subordination initially 1.60%).
Credit enhancement for the Class B-3 Certificates
will consist of the subordination of the Class B-4,
Class B-5 and Class B-6 Certificates (total
subordination initially 1.10%).
GREENWITCH CAPITAL
-------------------------------------------------------------------------------
MELLON FINANCIAL MARKETS, LLC
4
<PAGE> 5
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
will be superseded by information contained in term sheets circulated after the
date hereof and by information contained in the Prospectus and Prospectus
Supplement for this transaction. An offering may be made only through the
delivery of the Prospectus and Prospectus Supplement.
Shifting Interest: Until the first Distribution Date occurring after August
2010 the Subordinate Certificates will be locked out from
receipt of any principal (unless the Senior Certificates
are paid down to zero prior to such date). After such time
and subject to standard collateral performance triggers,
the Subordinate Certificates will receive their pro-rata
share of scheduled principal and increasing portions of
unscheduled principal prepayments. The prepayment
percentages on the Subordinate Certificates are as
follows:
September 2000 - August 2010 0% Pro Rata Share
September 2010 - August 2011 30% Pro Rata Share
September 2011 - August 2012 40% Pro Rata Share
September 2012 - August 2013 60% Pro Rata Share
September 2013 - August 2014 80% Pro Rata Share
September 2014 and after 100% Pro Rata Share
Any principal not allocated to the Subordinate
Certificates will be allocated to the Senior Certificates.
In the event the current senior percentage (aggregate
current senior balance divided by aggregate current pool
balance) exceeds the initial senior percentage (aggregate
initial senior balance divided by aggregate initial pool
balance plus any initial Prefunding Amount), the Senior
Certificates will receive all unscheduled principal
prepayments, regardless of any prepayment percentages.
Allocation of
Realized Losses: Any realized losses, other than excess losses, on the
Mortgage Loans will be allocated as follows: first, to the
Subordinate Certificates in reverse order of their
numerical Class designations, in each case until the
respective Class Principal Balance has been reduced to
zero; thereafter, to the Senior Certificates pro-rata in
reduction of their respective Class Principal Balances.
Excess losses (bankruptcy, special hazard and fraud losses
in excess of the amounts established by the rating
agencies) will be allocated to all classes of certificates
on a pro-rata basis.
GREENWITCH CAPITAL
-------------------------------------------------------------------------------
MELLON FINANCIAL MARKETS, LLC
5
<PAGE> 6
This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the Issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
Issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain all
of the information that a prospective investor may require to make a full
analysis of the transaction. All amounts are approximate and subject to change.
The information contained herein supersedes information contained in any prior
term sheet for this transaction. In addition, the information contained herein
will be superseded by information contained in term sheets circulated after the
date hereof and by information contained in the Prospectus and Prospectus
Supplement for this transaction. An offering may be made only through the
delivery of the Prospectus and Prospectus Supplement.
Certificates
Priority of Distributions: Available funds from the Mortgage Loans will be
distributed in the following order of priority:
1) Senior Certificates, accrued and unpaid
interest at the related Certificate Interest
Rate.
2) Class A-R Certificate, principal, until its
balance is reduced to zero.
3) Class A-1 Certificates, principal, until its
balance is reduced to zero.
4) Class B-1 Certificates, accrued and unpaid
interest at the Class B-1 Certificate Interest
Rate.
5) Class B-1 Certificates, principal.
6) Class B-2 Certificates, accrued and unpaid
interest at the Class B-2 Certificate Interest
Rate.
7) Class B-2 Certificates, principal.
8) Class B-3 Certificates, accrued and unpaid
interest at the Class B-3 Certificate Interest
Rate.
9) Class B-3 Certificates, principal.
10) Class B-4, Class B-5 and Class B-6
Certificates, in sequential order, accrued and
unpaid interest at the respective Certificate
Interest Rate and the respective share of
principal.
11) Class A-R Certificates, any remaining amount.
GREENWITCH CAPITAL
-------------------------------------------------------------------------------
MELLON FINANCIAL MARKETS, LLC
6
<PAGE> 7
COMPUTATIONAL MATERIALS DISCLAIMER
The attached tables and other statistical analyses (the "Computational
Materials") are privileged and intended for use by the addressee only. These
Computational Materials have been prepared by Greenwich Capital Markets, Inc. in
reliance upon information furnished by the issuer of the securities and its
affiliates. These Computational Materials are furnished to you solely by
Greenwich Capital Markets, Inc. and not by the issuer of the securities. They
may not be provided to any third party other than the addressee's legal, tax,
financial and/or accounting advisors for the purposes of evaluating said
material.
Numerous assumptions were used in preparing the Computational Materials which
may or may not be reflected therein. As such, no assurance can be given as to
the Computational Materials' accuracy, appropriateness or completeness in any
particular context; nor as to whether the Computational Materials and/or the
assumptions upon which they are based reflect present market conditions or
future market performance. These Computational Materials should not be construed
as either projections or predictions or as legal, tax, financial or accounting
advice.
Any weighted average lives, yields and principal payment periods shown in the
Computational Materials are based on prepayments assumptions, and changes in
such prepayment assumptions may dramatically affect such weighted average lives,
yields and principal payment periods. In addition, it is possible that
prepayments on the underlying assets will occur at rates slower or faster than
the rates shown in the attached Computational Materials. Furthermore, unless
otherwise provided, the Computational Materials assume no losses on the
underlying assets and no interest shortfall. The specific characteristics of the
securities may differ from those shown in the Computational Materials due to
differences between the actual underlying assets and the hypothetical underlying
assets used in preparing the Computational Materials. The principal amount and
designation of any security described in the Computational Materials are subject
to change prior to issuance. Neither Greenwich Capital Markets, Inc. nor any of
its affiliates makes any representation or warranty as to the actual rate or
timing of payments on any of the underlying assets or the payments or yield on
the securities.
Although a registration statement (including the Prospectus) relating to the
securities discussed in this communication has been filed with the Securities
and Exchange Commission and is effective, the final prospectus supplement
relating to the securities discussed in this communication has not been filed
with Securities and Exchange Commission. This communication shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall there be any
sale of the securities discussed in this communication in any state in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification of such securities under the securities laws of any such state.
Prospective purchasers are referred to the final prospectus supplement relating
to the securities discussed in this communication for definitive Computational
Materials and any matter discussed in this communication. Once available, a
final prospectus and prospectus supplement may be obtained by contacting the
Greenwich Capital Markets, Inc. Trading Desk at (203) 625-6160.
Please be advised that the securities described herein may not be appropriate
for all investors. Potential investors must be willing to assume, among other
things, market price volatility, prepayment, yield curve and interest rate
risks. Investors should make every effort to consider the risks of these
securities.
If you have received this communication in error, please notify the sending
party immediately by telephone and return the original to such party by mail.
7
<PAGE> 8
PRICE YIELD TABLES (%)
<TABLE>
<CAPTION>
CLASS A-1 (TO PUT)
--------------------------------------------------------------------------------------------------------------------------------
Pass-Thru Margin 0.230%
--------------------------------------------------------------------------------------------------------------------------------
Flat
Price 12% CPR 15% CPR 20% CPR 25% CPR 30% CPR 35% CPR 40% CPR
================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
100-00 0.230 0.230 0.230 0.230 0.230 0.230 0.230
=============================---------------------------------------------------------------------------------------------------
WAL (yr) 1.77 1.72 1.63 1.54 1.45 1.36 1.27
MDUR (yr) 1.61 1.56 1.48 1.40 1.32 1.24 1.17
First Prin Pay 09/15/00 09/15/00 09/15/00 09/15/00 09/15/00 09/15/00 09/15/00
Last Prin Pay 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Class A-1 (To Maturity)
--------------------------------------------------------------------------------------------------------------------------------
Pass-Thru Margin 0.230%
--------------------------------------------------------------------------------------------------------------------------------
Flat
Price 12% CPR 15% CPR 20% CPR 25% CPR 30% CPR 35% CPR 40% CPR
================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
100-00 0.380 0.370 0.352 0.335 0.319 0.304 0.291
==============================--------------------------------------------------------------------------------------------------
WAL (yr) 6.90 5.60 4.13 3.17 2.57 2.14 1.81
MDUR (yr) 4.64 3.98 3.15 2.57 2.15 1.83 1.58
First Prin Pay 09/15/00 09/15/00 09/15/00 09/15/00 09/15/00 09/15/00 09/15/00
Last Prin Pay 11/15/30 11/15/30 11/15/30 11/15/30 06/15/10 10/15/08 07/15/07
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Class B-1 (To Put)
--------------------------------------------------------------------------------------------------------------------------------
Coupon 7.598%
--------------------------------------------------------------------------------------------------------------------------------
Flat
Price 12% CPR 15% CPR 20% CPR 25% CPR 30% CPR 35% CPR 40% CPR
================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
100-29 7.236 7.235 7.235 7.234 7.233 7.233 7.232
==============================--------------------------------------------------------------------------------------------------
WAL (yr) 2.00 2.00 2.00 2.00 2.00 2.00 2.00
MDUR (yr) 1.80 1.80 1.80 1.80 1.80 1.80 1.80
First Prin Pay 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02
Last Prin Pay 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Class B-1 (To Maturity)
--------------------------------------------------------------------------------------------------------------------------------
Coupon 7.598%
--------------------------------------------------------------------------------------------------------------------------------
Flat
Price 12% CPR 15% CPR 20% CPR 25% CPR 30% CPR 35% CPR 40% CPR
================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
100-29 7.791 7.789 7.786 7.782 7.770 7.752 7.731
==============================--------------------------------------------------------------------------------------------------
WAL (yr) 16.78 16.09 15.18 14.51 12.40 10.41 8.84
MDUR (yr) 8.91 8.74 8.51 8.33 7.64 6.84 6.13
First Prin Pay 09/15/10 09/15/10 09/15/10 09/15/10 06/15/10 10/15/08 07/15/07
Last Prin Pay 11/15/30 11/15/30 11/15/30 11/15/30 11/15/30 11/15/30 11/15/30
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
"Full Price" = "Flat Price" + Accrued Interest.
Duration and related sensitivities are calculated at midpoint price.
Maturity and Last Principal Pay Dates may be distorted by the use of collateral
pool WAMs.
This information is furnished to you solely by Greenwich Capital Markets, Inc.
("GCM") and not by the Issuer of the securities or any of its affiliates. GCM is
acting as underwriter and not as Agent for the issuer or its affiliates in
connection with the proposed transaction.
8
<PAGE> 9
PRICE YIELD TABLES (%)
<TABLE>
<CAPTION>
CLASS B-2 (TO PUT)
--------------------------------------------------------------------------------------------------------------------------------
Coupon 7.598%
--------------------------------------------------------------------------------------------------------------------------------
Flat
Price 12% CPR 15% CPR 20% CPR 25% CPR 30% CPR 35% CPR 40% CPR
================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
100-08 7.598 7.598 7.597 7.597 7.596 7.595 7.595
==============================--------------------------------------------------------------------------------------------------
WAL (yr) 2.00 2.00 2.00 2.00 2.00 2.00 2.00
MDUR (yr) 1.79 1.79 1.79 1.79 1.79 1.79 1.79
First Prin Pay 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02
Last Prin Pay 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Class B-2 (To Maturity)
--------------------------------------------------------------------------------------------------------------------------------
Coupon 7.598%
--------------------------------------------------------------------------------------------------------------------------------
Flat
Price 12% CPR 15% CPR 20% CPR 25% CPR 30% CPR 35% CPR 40% CPR
================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
100-08 7.864 7.864 7.862 7.861 7.855 7.847 7.837
==============================--------------------------------------------------------------------------------------------------
WAL (yr) 16.78 16.09 15.18 14.51 12.40 10.41 8.84
MDUR (yr) 8.88 8.71 8.49 8.30 7.62 6.83 6.12
First Prin Pay 09/15/10 09/15/10 09/15/10 09/15/10 06/15/10 10/15/08 07/15/07
Last Prin Pay 11/15/30 11/15/30 11/15/30 11/15/30 11/15/30 11/15/30 11/15/30
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Class B-3 (To Put)
--------------------------------------------------------------------------------------------------------------------------------
Coupon 7.598%
--------------------------------------------------------------------------------------------------------------------------------
Flat
Price 12% CPR 15% CPR 20% CPR 25% CPR 30% CPR 35% CPR 40% CPR
================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
98-19 8.528 8.528 8.527 8.526 8.526 8.525 8.524
==============================--------------------------------------------------------------------------------------------------
WAL (yr) 2.00 2.00 2.00 2.00 2.00 2.00 2.00
MDUR (yr) 1.78 1.78 1.78 1.78 1.78 1.78 1.78
First Prin Pay 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02
Last Prin Pay 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Class B-3 (To Maturity)
--------------------------------------------------------------------------------------------------------------------------------
Coupon 7.598%
--------------------------------------------------------------------------------------------------------------------------------
Flat
Price 12% CPR 15% CPR 20% CPR 25% CPR 30% CPR 35% CPR 40% CPR
================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
98-19 8.052 8.055 8.059 8.061 8.074 8.091 8.109
==============================--------------------------------------------------------------------------------------------------
WAL (yr) 16.78 16.09 15.18 14.51 12.40 10.41 8.84
MDUR (yr) 8.81 8.64 8.42 8.24 7.57 6.79 6.09
First Prin Pay 09/15/10 09/15/10 09/15/10 09/15/10 06/15/10 10/15/08 07/15/07
Last Prin Pay 11/15/30 11/15/30 11/15/30 11/15/30 11/15/30 11/15/30 11/15/30
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
"Full Price" = "Flat Price" + Accrued Interest.
Duration and related sensitivities are calculated at midpoint price.
Maturity and Last Principal Pay Dates may be distorted by the use of collateral
pool WAMs.
This information is furnished to you solely by Greenwich Capital Markets, Inc.
("GCM") and not by the Issuer of the securities or any of its affiliates. GCM is
acting as underwriter and not as Agent for the issuer or its affiliates in
connection with the proposed transaction.
9
<PAGE> 10
MELLON RESIDENTIAL FUNDING CORPORATION SERIES 2000-TBC3
SCHEDULED 07/01/00 BALANCES
<TABLE>
<CAPTION>
TOTAL CURRENT BALANCE: 389,542,367.34
NUMBER OF LOANS: 657
AVG/WAVG MIN MAX
<S> <C> <C> <C>
AVG CURRENT BALANCE: $592,910.76 $12,500.00 $3,000,000.00
AVG ORIGINAL BALANCE: $620,176.77 $12,500.00 $3,000,000.00
WAVG NOTE RATE: 8.049% 4.875 9.125%
WAVG GROSS MARGIN: 1.548% -0.625 2.500%
WAVG MAX INT RATE: 10.909% 10.750 12.750%
WAVG HIGH FICO SCORE: 755 0 839
WAVG LOW FICO SCORE: 735 0 811
WAVG ORIGINAL LTV: 69.10% 10.00 100.00%
WAVG ORIGINAL LTC: 66.35% 0.00 90.00%
WAVG NEXT RATE RESET: 2.59 months 1.00 7.00 months
WAVG ORIGINAL TERM: 360 months 360 360 months
WAVG STATED REMAINING TERM: 338 months 295 360 months
WAVG SEASONING: 22 months 0 65 months
TOP STATE CONC ($): 23.79% California, 14.11% New York, 12.97% Massachusetts
MAXIMUM ZIP CODE CONC ($): 1.70% 94027
FIRST PAY DATE: Mar 01, 1995 Aug 01, 2000
RATE CHANGE DATE: Aug 01, 2000 Feb 01, 2001
MATURITY DATE: Feb 01, 2025 Jul 01, 2030
</TABLE>
The information contained herein has been prepared solely for the use of
Greenwich Capital Markets, Inc. and has not been independently verified by
Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc.
makes no express or implied representations or warranties of any kind and
expressly disclaims all liability for any use or misuse of the contents hereof.
Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of
any material contained herein.
The information contained herein will be superseded by the description of the
mortgage loans contained in the prospectus supplement. Such information
supersedes the information in all prior collateral term sheets, if any.
10
<PAGE> 11
<TABLE>
<CAPTION>
CURRENT
PRINCIPAL BAL ($) PCT($) # OF LOANS PCT(#)
INDEX:
<S> <C> <C> <C> <C>
1 MO LIBOR 155,654,410.12 39.96 253 38.51
6 MO LIBOR 126,369,224.70 32.44 235 35.77
1 MO CD 65,856,610.89 16.91 106 16.13
6 MO FIXED/1MO LIBOR 36,045,700.00 9.25 51 7.76
1 MO PRIME 5,057,914.56 1.30 10 1.52
6 MO CD 558,507.07 0.14 2 0.30
DELINQUENCY:
CURRENT 389,542,367.34 100.00 657 100.00
CURRENT BALANCE: ($)
12,500.00 - 100,000.00 1,053,982.10 0.27 15 2.28
100,000.01 - 200,000.00 5,820,231.24 1.49 36 5.48
200,000.01 - 300,000.00 27,342,777.67 7.02 106 16.13
300,000.01 - 400,000.00 39,305,676.40 10.09 110 16.74
400,000.01 - 500,000.00 41,411,507.60 10.63 90 13.70
500,000.01 - 600,000.00 31,349,967.79 8.05 56 8.52
600,000.01 - 700,000.00 33,487,838.74 8.60 51 7.76
700,000.01 - 800,000.00 34,238,787.25 8.79 45 6.85
800,000.01 - 900,000.00 18,228,374.26 4.68 21 3.20
900,000.01 - 1,000,000.00 46,364,548.37 11.90 47 7.15
1,000,000.01 - 1,100,000.00 39,315,628.19 10.09 36 5.48
1,100,000.01 - 1,200,000.00 7,969,446.32 2.05 7 1.07
1,200,000.01 - 1,300,000.00 7,624,679.74 1.96 6 0.91
1,300,000.01 - 1,400,000.00 8,321,783.85 2.14 6 0.91
1,400,000.01 - 1,500,000.00 7,378,038.34 1.89 5 0.76
1,500,000.01 - 1,600,000.00 9,410,576.68 2.42 6 0.91
1,600,000.01 - 1,700,000.00 1,640,000.00 0.42 1 0.15
1,700,000.01 - 1,800,000.00 3,550,000.00 0.91 2 0.30
1,800,000.01 - 1,900,000.00 1,820,000.00 0.47 1 0.15
1,900,000.01 - 2,000,000.00 2,000,000.00 0.51 1 0.15
2,000,000.01 - 2,100,000.00 4,129,000.00 1.06 2 0.30
2,100,000.01 - 2,200,000.00 2,180,000.00 0.56 1 0.15
2,200,000.01 - 2,300,000.00 4,519,522.80 1.16 2 0.30
2,400,000.01 - 2,500,000.00 2,500,000.00 0.64 1 0.15
2,500,000.01 - 2,600,000.00 2,580,000.00 0.66 1 0.15
2,900,000.01 - 3,000,000.00 6,000,000.00 1.54 2 0.30
</TABLE>
The information contained herein has been prepared solely for the use of
Greenwich Capital Markets, Inc. and has not been independently verified by
Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc.
makes no express or implied representations or warranties of any kind and
expressly disclaims all liability for any use or misuse of the contents hereof.
Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of
any material contained herein.
The information contained herein will be superseded by the description of the
mortgage loans contained in the prospectus supplement. Such information
supersedes the information in all prior collateral term sheets, if any.
11
<PAGE> 12
<TABLE>
<CAPTION>
CURRENT
PRINCIPAL BAL ($) PCT($) # OF LOANS PCT(#)
NOTE RATE: (%)
<S> <C> <C> <C> <C>
4.875 - 5.000 2,050,000.00 0.53 1 0.15
6.751 - 7.000 851,900.00 0.22 2 0.30
7.001 - 7.250 14,174,450.00 3.64 22 3.35
7.251 - 7.500 25,798,180.34 6.62 40 6.09
7.501 - 7.750 64,519,719.99 16.56 113 17.20
7.751 - 8.000 98,508,771.22 25.29 150 22.83
8.001 - 8.250 60,769,498.78 15.60 111 16.89
8.251 - 8.500 91,682,589.27 23.54 163 24.81
8.501 - 8.750 11,912,740.30 3.06 17 2.59
8.751 - 9.000 16,729,833.30 4.29 35 5.33
9.001 - 9.125 2,544,684.14 0.65 3 0.46
GROSS MARGIN: (%)
<= 0.000 3,257,914.56 0.84 8 1.22
0.501 - 0.750 3,665,410.00 0.94 7 1.07
0.751 - 1.000 74,723,201.83 19.18 128 19.48
1.001 - 1.250 44,154,194.23 11.33 70 10.65
1.251 - 1.500 74,852,806.95 19.22 105 15.98
1.501 - 1.750 7,852,514.84 2.02 14 2.13
1.751 - 2.000 170,503,996.60 43.77 309 47.03
2.001 - 2.250 9,973,821.26 2.56 14 2.13
2.251 - 2.500 558,507.07 0.14 2 0.30
MAX INT RATE: (%)
10.750 - 10.750 193,365,450.51 49.64 307 46.73
10.751 - 10.875 104,261,997.67 26.77 173 26.33
10.876 - 11.000 27,117,218.94 6.96 50 7.61
11.001 - 11.125 21,611,023.31 5.55 41 6.24
11.126 - 11.250 20,635,489.53 5.30 42 6.39
11.251 - 11.375 1,071,114.51 0.27 4 0.61
11.376 - 11.500 7,055,169.84 1.81 10 1.52
11.751 - 11.875 418,799.99 0.11 1 0.15
11.876 - 12.000 12,357,069.68 3.17 25 3.81
12.251 - 12.375 1,509,326.28 0.39 3 0.46
12.626 - 12.750 139,707.08 0.04 1 0.15
PERIOD RATE CAP: (%)
0.000 - 0.000 261,464,635.57 67.12 419 63.77
0.751 - 1.000 123,233,645.68 31.64 227 34.55
1.751 - 2.000 558,507.07 0.14 2 0.30
2.751 - 3.000 2,845,901.57 0.73 5 0.76
3.751 - 4.000 246,977.87 0.06 1 0.15
4.751 - 5.000 1,192,699.58 0.31 3 0.46
</TABLE>
The information contained herein has been prepared solely for the use of
Greenwich Capital Markets, Inc. and has not been independently verified by
Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc.
makes no express or implied representations or warranties of any kind and
expressly disclaims all liability for any use or misuse of the contents hereof.
Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of
any material contained herein.
The information contained herein will be superseded by the description of the
mortgage loans contained in the prospectus supplement. Such information
supersedes the information in all prior collateral term sheets, if any.
12
<PAGE> 13
<TABLE>
<CAPTION>
CURRENT
PRINCIPAL BAL ($) PCT($) # OF LOANS PCT(#)
HIGH FICO SCORE:
<S> <C> <C> <C> <C>
N/A 167,237,550.40 42.93 299 45.51
601 - 650 2,033,400.00 0.52 4 0.61
651 - 700 17,144,268.46 4.40 30 4.57
701 - 750 68,543,585.41 17.60 103 15.68
751 - 800 116,728,924.73 29.97 189 28.77
801 - 839 17,854,638.34 4.58 32 4.87
LOW FICO SCORE:
N/A 62,589,593.37 16.07 108 16.44
501 - 550 332,000.00 0.09 1 0.15
601 - 650 10,943,150.52 2.81 19 2.89
651 - 700 58,519,006.34 15.02 91 13.85
701 - 750 123,059,302.70 31.59 200 30.44
751 - 800 127,477,461.99 32.72 223 33.94
801 - 811 6,621,852.42 1.70 15 2.28
ORIGINAL LTV: (%)
10.00 - 10.00 1,000,000.00 0.26 1 0.15
10.01 - 15.00 1,100,000.00 0.28 1 0.15
15.01 - 20.00 2,311,588.54 0.59 3 0.46
20.01 - 25.00 450,500.00 0.12 2 0.30
25.01 - 30.00 3,850,000.00 0.99 6 0.91
30.01 - 35.00 8,012,638.38 2.06 12 1.83
35.01 - 40.00 9,785,245.45 2.51 16 2.44
40.01 - 45.00 10,874,852.49 2.79 20 3.04
45.01 - 50.00 28,487,823.45 7.31 43 6.54
50.01 - 55.00 16,495,901.68 4.23 24 3.65
55.01 - 60.00 25,755,410.34 6.61 30 4.57
60.01 - 65.00 32,782,307.54 8.42 47 7.15
65.01 - 70.00 38,739,698.93 9.94 58 8.83
70.01 - 75.00 45,226,038.29 11.61 71 10.81
75.01 - 80.00 113,696,272.79 29.19 230 35.01
80.01 - 85.00 5,600,409.28 1.44 11 1.67
85.01 - 90.00 11,306,494.64 2.90 18 2.74
90.01 - 95.00 3,744,899.99 0.96 8 1.22
95.01 - 100.00 30,322,285.55 7.78 56 8.52
</TABLE>
The information contained herein has been prepared solely for the use of
Greenwich Capital Markets, Inc. and has not been independently verified by
Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc.
makes no express or implied representations or warranties of any kind and
expressly disclaims all liability for any use or misuse of the contents hereof.
Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of
any material contained herein.
The information contained herein will be superseded by the description of the
mortgage loans contained in the prospectus supplement. Such information
supersedes the information in all prior collateral term sheets, if any.
13
<PAGE> 14
<TABLE>
<CAPTION>
CURRENT
PRINCIPAL BAL ($) PCT($) # OF LOANS PCT(#)
ORIGINAL LTC: (%)
<S> <C> <C> <C> <C>
0.00 1,395,749.99 0.36 3 0.46
0.01 - 5.00 1,000,000.00 0.26 1 0.15
5.01 - 10.00 1,000,000.00 0.26 1 0.15
10.01 - 15.00 1,100,000.00 0.28 1 0.15
15.01 - 20.00 2,311,588.54 0.59 3 0.46
20.01 - 25.00 450,500.00 0.12 2 0.30
25.01 - 30.00 3,850,000.00 0.99 6 0.91
30.01 - 35.00 8,112,638.38 2.08 13 1.98
35.01 - 40.00 11,005,017.86 2.83 18 2.74
40.01 - 45.00 10,874,852.49 2.79 20 3.04
45.01 - 50.00 29,857,823.45 7.66 44 6.70
50.01 - 55.00 16,495,901.68 4.23 24 3.65
55.01 - 60.00 25,755,410.34 6.61 30 4.57
60.01 - 65.00 35,948,712.02 9.23 51 7.76
65.01 - 70.00 44,720,848.93 11.48 66 10.05
70.01 - 75.00 51,951,390.34 13.34 85 12.94
75.01 - 80.00 129,327,690.58 33.20 268 40.79
80.01 - 85.00 4,693,106.85 1.20 8 1.22
85.01 - 90.00 9,691,135.89 2.49 13 1.98
REMAINING TERM: (MONTHS)
295 - 297 1,286,544.30 0.33 4 0.61
298 - 300 7,477,099.66 1.92 17 2.59
301 - 303 3,037,273.97 0.78 6 0.91
304 - 306 4,886,763.01 1.25 10 1.52
307 - 309 3,409,539.27 0.88 8 1.22
310 - 312 15,577,043.62 4.00 26 3.96
313 - 315 27,490,955.43 7.06 53 8.07
316 - 318 36,582,438.48 9.39 62 9.44
319 - 321 31,838,853.27 8.17 54 8.22
322 - 324 38,133,198.99 9.79 63 9.59
325 - 327 20,504,764.26 5.26 38 5.78
328 - 330 3,828,104.94 0.98 6 0.91
331 - 333 113,000.00 0.03 1 0.15
337 - 339 1,108,639.68 0.28 1 0.15
340 - 342 650,000.00 0.17 1 0.15
343 - 345 40,000.00 0.01 1 0.15
346 - 348 1,878,038.34 0.48 2 0.30
358 - 360 191,700,110.12 49.21 304 46.27
</TABLE>
The information contained herein has been prepared solely for the use of
Greenwich Capital Markets, Inc. and has not been independently verified by
Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc.
makes no express or implied representations or warranties of any kind and
expressly disclaims all liability for any use or misuse of the contents hereof.
Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of
any material contained herein.
The information contained herein will be superseded by the description of the
mortgage loans contained in the prospectus supplement. Such information
supersedes the information in all prior collateral term sheets, if any.
14
<PAGE> 15
<TABLE>
<CAPTION>
CURRENT
PRINCIPAL BAL ($) PCT($) # OF LOANS PCT(#)
RATE CHANGE DATE:
<S> <C> <C> <C> <C>
08/01/00 226,568,935.57 58.16 369 56.16
09/01/00 21,320,516.21 5.47 36 5.48
10/01/00 16,751,625.54 4.30 38 5.78
11/01/00 23,629,987.35 6.07 32 4.87
12/01/00 31,649,410.68 8.12 56 8.52
01/01/01 50,194,812.86 12.89 86 13.09
02/01/01 19,427,079.13 4.99 40 6.09
BLANKET FLAG:
NO 376,948,919.68 96.77 639 97.26
YES 12,593,447.66 3.23 18 2.74
PREPAY PENALTY:
PREPAYMENT PENALTY 380,694,192.52 97.73 637 96.96
NO PREPAYMENT PENALTY 8,848,174.82 2.27 20 3.04
AMORTIZATION:
INTEREST ONLY 388,725,662.18 99.79 654 99.54
FULLY AMORTIZING 816,705.16 0.21 3 0.46
CONVERTIBLE FLAG:
NOT CONVERTIBLE 197,842,257.22 50.79 353 53.73
CONVERTIBLE 191,700,110.12 49.21 304 46.27
MODIFIABLE FLAG:
NOT MODIFIABLE 196,042,257.22 50.33 351 53.42
MODIFIABLE 193,500,110.12 49.67 306 46.58
</TABLE>
The information contained herein has been prepared solely for the use of
Greenwich Capital Markets, Inc. and has not been independently verified by
Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc.
makes no express or implied representations or warranties of any kind and
expressly disclaims all liability for any use or misuse of the contents hereof.
Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of
any material contained herein.
The information contained herein will be superseded by the description of the
mortgage loans contained in the prospectus supplement. Such information
supersedes the information in all prior collateral term sheets, if any.
15
<PAGE> 16
<TABLE>
<CAPTION>
CURRENT
PRINCIPAL BAL ($) PCT($) # OF LOANS PCT(#)
<S> <C> <C> <C> <C>
OCCUPANCY:
PRIMARY 309,034,544.09 79.33 522 79.45
SECOND HOME 80,507,823.25 20.67 135 20.55
DOCUMENTATION:
FULL 389,542,367.34 100.00 657 100.00
PROPERTY TYPE:
SINGLE FAMILY 245,479,349.45 63.02 378 57.53
PUD 66,311,690.87 17.02 116 17.66
CONDOMINIUM 35,588,847.70 9.14 70 10.65
COOPERATIVE 28,214,324.58 7.24 71 10.81
BLANKET 12,593,447.66 3.23 18 2.74
2-4 FAMILY 1,354,707.08 0.35 4 0.61
LOAN PURPOSE:
PURCHASE 267,746,756.57 68.73 463 70.47
CASH OUT REFINANCE 72,730,895.10 18.67 102 15.53
RATE/TERM REFINANCE 49,064,715.67 12.60 92 14.00
</TABLE>
The information contained herein has been prepared solely for the use of
Greenwich Capital Markets, Inc. and has not been independently verified by
Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc.
makes no express or implied representations or warranties of any kind and
expressly disclaims all liability for any use or misuse of the contents hereof.
Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of
any material contained herein.
The information contained herein will be superseded by the description of the
mortgage loans contained in the prospectus supplement. Such information
supersedes the information in all prior collateral term sheets, if any.
16
<PAGE> 17
<TABLE>
<CAPTION>
CURRENT
PRINCIPAL BAL ($) PCT($) # OF LOANS PCT(#)
STATE:
<S> <C> <C> <C> <C>
ALABAMA 920,000.00 0.24 2 0.30
ARIZONA 12,296,548.77 3.16 17 2.59
CALIFORNIA 92,658,421.94 23.79 130 19.79
COLORADO 12,772,407.35 3.28 19 2.89
CONNECTICUT 14,720,179.00 3.78 21 3.20
DELAWARE 2,901,749.99 0.74 4 0.61
DISTRICT OF COLUMBIA 1,982,394.99 0.51 6 0.91
FLORIDA 24,491,220.50 6.29 41 6.24
GEORGIA 9,357,510.02 2.40 14 2.13
HAWAII 2,320,623.07 0.60 3 0.46
IDAHO 498,246.55 0.13 1 0.15
ILLINOIS 4,851,548.92 1.25 8 1.22
INDIANA 295,000.00 0.08 1 0.15
KANSAS 369,922.45 0.09 1 0.15
KENTUCKY 1,100,000.00 0.28 1 0.15
MAINE 1,952,908.11 0.50 5 0.76
MARYLAND 8,323,767.97 2.14 15 2.28
MASSACHUSETTS 50,505,889.75 12.97 92 14.00
MICHIGAN 986,921.22 0.25 3 0.46
MINNESOTA 615,000.00 0.16 1 0.15
MISSOURI 247,899.40 0.06 1 0.15
NEVADA 1,608,748.00 0.41 3 0.46
NEW HAMPSHIRE 674,683.85 0.17 2 0.30
NEW JERSEY 13,338,833.55 3.42 26 3.96
NEW MEXICO 1,000,000.00 0.26 1 0.15
NEW YORK 54,959,202.06 14.11 99 15.07
NORTH CAROLINA 2,537,706.25 0.65 5 0.76
OHIO 572,428.60 0.15 3 0.46
OKLAHOMA 224,999.99 0.06 1 0.15
OREGON 2,859,354.95 0.73 6 0.91
PENNSYLVANIA 33,136,527.09 8.51 64 9.74
RHODE ISLAND 1,935,000.00 0.50 4 0.61
SOUTH CAROLINA 2,602,041.67 0.67 4 0.61
TEXAS 9,495,854.72 2.44 17 2.59
UTAH 1,314,715.00 0.34 5 0.76
VERMONT 1,057,000.00 0.27 2 0.30
VIRGINIA 12,577,888.81 3.23 23 3.50
WASHINGTON 1,874,700.00 0.48 3 0.46
WISCONSIN 325,000.00 0.08 1 0.15
WYOMING 3,279,522.80 0.84 2 0.30
</TABLE>
The information contained herein has been prepared solely for the use of
Greenwich Capital Markets, Inc. and has not been independently verified by
Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc.
makes no express or implied representations or warranties of any kind and
expressly disclaims all liability for any use or misuse of the contents hereof.
Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of
any material contained herein.
The information contained herein will be superseded by the description of the
mortgage loans contained in the prospectus supplement. Such information
supersedes the information in all prior collateral term sheets, if any.
17
<PAGE> 18
The information contained herein has been prepared on the basis of information
provided by the issuer or one or more of its affiliates to assist interested
parties in making a preliminary analysis of the proposed transaction and does
not purport to be all-inclusive or to contain all of the information that a
prospective investor may require to make a full analysis of the proposed
transaction. We have not verified any of the information contained herein and
assume no responsibility for the accuracy or completeness thereof. The
information contained herein does not constitute an offer to sell, nor a
solicitation of an offer to buy, any security or other financial instrument. Any
such offer or solicitation may only be made by means of the Private Placement
Memorandum, which will be made available by Greenwich Capital Markets, Inc., the
Initial Purchaser. The terms of this Preliminary Term Sheet are qualified in
their entirety by the information contained in the Private Placement Memorandum,
which will supersede, in its entirety, the terms hereof. This Preliminary Term
Sheet is submitted on a confidential basis to a limited number of institutional
investors and may not be reproduced in whole or in part, nor may it be
distributed or any of its contents disclosed to anyone other than the
prospective investor to whom it has been submitted by the Initial Purchaser.
Terms used but not defined herein shall have the meanings set forth in the
Private Placement Memorandum.
PRELIMINARY TERM SHEET DATE PREPARED: JULY 20, 2000
MELLON RESIDENTIAL FUNDING CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2000-TBC3
=====================================================
THE BOSTON COMPANY
=====================================================
$5,387,267 (APPROXIMATE, SUBJECT TO FINAL COLLATERAL)
PRIVATELY OFFERED CERTIFICATES
ADJUSTABLE RATE RESIDENTIAL MORTGAGE LOANS
<TABLE>
<CAPTION>
==================================================================================================================================
WAL Payment Window Initial
Principal (1) To Put/Mat To Put/Mat Interest Expected Ratings
Class Amount (Approx.) (Years) (2) (Months) (2) Rate Type Tranche Type Moody's/S&P (4)
----- ---------------- ----------- ------------ --------- ------------ ---------------
<S> <C> <C> <C> <C> <C> <C>
B-4 $2,203,000 2.00/15.18 24 -24/121 - 363 WAC (3) Subordinate Ba2/BBr
B-5 1,469,000 2.00/15.18 24 -24/121 - 363 WAC (3) Subordinate B2/Br
B-6 1,715,267 2.00/15.18 24 -24/121 - 363 WAC (3) Subordinate NR/NR
==================================================================================================================================
TOTAL $5,387,267
</TABLE>
(1) The Privately Offered Certificates (as described herein) are collateralized
by a pool of adjustable rate residential mortgage loans. Class sizes are
subject to final collateral and rating agency approval.
(2) As described further herein, the Privately Offered Certificates may be put
to Mellon Bank, N.A. under certain circumstances.
(3) The Certificate Interest Rate for the Privately Offered Certificates will
be equal to the Net WAC of the Mortgage Loans (before and after the Put
Date) subject to the amount of available funds. The Net WAC and the net
weighted average maximum rate of the Initial Mortgage Loans will be
approximately 7.665% and 10.525% respectively for the first Distribution
Date.
(4) In addition, ratings of P-1 and A-1+ by Moody's and S&P, respectively, will
be implied to each class of rated Privately Offered Certificates reflecting
the creditworthiness of Mellon Bank, N.A. to fulfill its obligations with
respect to the Put Option (as described herein).
GREENWICH CAPITAL
------------------------------------------------------------------------------
MELLON FINANCIAL MARKETS, LLC
1
<PAGE> 19
The information contained herein has been prepared on the basis of information
provided by the issuer or one or more of its affiliates to assist interested
parties in making a preliminary analysis of the proposed transaction and does
not purport to be all-inclusive or to contain all of the information that a
prospective investor may require to make a full analysis of the proposed
transaction. We have not verified any of the information contained herein and
assume no responsibility for the accuracy or completeness thereof. The
information contained herein does not constitute an offer to sell, nor a
solicitation of an offer to buy, any security or other financial instrument. Any
such offer or solicitation may only be made by means of the Private Placement
Memorandum, which will be made available by Greenwich Capital Markets, Inc., the
Initial Purchaser. The terms of this Preliminary Term Sheet are qualified in
their entirety by the information contained in the Private Placement Memorandum,
which will supersede, in its entirety, the terms hereof. This Preliminary Term
Sheet is submitted on a confidential basis to a limited number of institutional
investors and may not be reproduced in whole or in part, nor may it be
distributed or any of its contents disclosed to anyone other than the
prospective investor to whom it has been submitted by the Initial Purchaser.
Terms used but not defined herein shall have the meanings set forth in the
Private Placement Memorandum.
Initial Purchasers: Greenwich Capital Markets, Inc. and Mellon Financial
Markets, LLC.
Seller and
Master Servicer: Boston Safe Deposit and Trust ("THE BOSTON COMPANY").
Trustee: Wells Fargo Bank Minnesota, N.A.
Statistical Cut-off Date: July 1, 2000.
Initial Cut-off Date: August 1, 2000.
Pricing Date: On or about July [21], 2000.
Closing Date: On or about August 15, 2000.
Certificates: The "PRIVATELY OFFERED CERTIFICATES" will consist of
the Class B-4, Class B-5 and Class B-6 Certificates.
The "SENIOR CERTIFICATES" will consist of the Class
A-1 Certificates, the Class X Certificates and the
Class A-R Certificate. The "SUBORDINATE CERTIFICATES"
will consist of the Class B-1, Class B-2, Class B-3,
Class B-4, Class B-5 and Class B-6 Certificates.
Accrued Interest: The price to be paid by investors for the Privately
Offered Certificates will include accrued interest
from August 1, 2000 (the "INITIAL CUT-OFF DATE") up
to, but not including, the Closing Date (14 days).
Interest Accrual Period: The interest accrual period for each class of
Privately Offered Certificates will be the calendar
month preceding the month in which such Distribution
Date occurs (on a 30/360 basis).
Distribution Date: The 15th day of each month (or the next succeeding
business day), commencing on September 15, 2000.
Registration: The Privately Offered Certificates will be made
available in definitive fully registered physical
form.
Federal Tax Treatment: It is anticipated that the Privately Offered
Certificates will each be treated in part as a REMIC
regular interest and in part as ownership of a put
option for tax purposes.
ERISA Eligibility: The Privately Offered Certificates are NOT EXPECTED
to be ERISA eligible. Prospective investors should
review with their legal advisors whether the purchase
and holding of the Privately Offered Certificates
could give rise to a transaction prohibited or not
otherwise permissible under ERISA, the Code or other
similar laws.
SMMEA Treatment: The Privately Offered Certificates are NOT EXPECTED
to constitute "mortgage related securities" for
purposes of SMMEA.
GREENWICH CAPITAL
------------------------------------------------------------------------------
MELLON FINANCIAL MARKETS, LLC
2
<PAGE> 20
The information contained herein has been prepared on the basis of information
provided by the issuer or one or more of its affiliates to assist interested
parties in making a preliminary analysis of the proposed transaction and does
not purport to be all-inclusive or to contain all of the information that a
prospective investor may require to make a full analysis of the proposed
transaction. We have not verified any of the information contained herein and
assume no responsibility for the accuracy or completeness thereof. The
information contained herein does not constitute an offer to sell, nor a
solicitation of an offer to buy, any security or other financial instrument. Any
such offer or solicitation may only be made by means of the Private Placement
Memorandum, which will be made available by Greenwich Capital Markets, Inc., the
Initial Purchaser. The terms of this Preliminary Term Sheet are qualified in
their entirety by the information contained in the Private Placement Memorandum,
which will supersede, in its entirety, the terms hereof. This Preliminary Term
Sheet is submitted on a confidential basis to a limited number of institutional
investors and may not be reproduced in whole or in part, nor may it be
distributed or any of its contents disclosed to anyone other than the
prospective investor to whom it has been submitted by the Initial Purchaser.
Terms used but not defined herein shall have the meanings set forth in the
Private Placement Memorandum.
Eligible Investors: Investors will be required to deliver representation
letters that they are either qualified institutional
buyers under Rule 144A or institutional accredited
investors under Rule 501(a) of Regulation D. In
addition, investors will be required to deliver a
representation letter that their purchase will not be
a prohibited transaction under ERISA.
Put Option: During the 5 business day period ending on the
Distribution Date in June 2002 each of the
Certificateholders (with the exception of the holders
of the Class X Certificates or the Class A-R
Certificate) will have the option to require Mellon
Bank, N.A. ("MELLON BANK") to purchase such
Certificateholder's Certificates of the related Class
on the Distribution Date in August 2002 (the "PUT
DATE"). For the Class B-4 and Class B-5 Privately
Offered Certificates, the repurchase price will be
80% (based on the outstanding certificate balance)
plus accrued interest. For the Class B-6 Privately
Offered Certificates, the repurchase price will be
20% (based on the outstanding certificate balance)
plus accrued interest.
Clean-Up Option: If the Put Option is exercised with respect to more
than 90% of the aggregate outstanding principal
balance of the putable certificates, Mellon Bank will
have the option to purchase all of the outstanding
putable certificates, including putable certificates
with respect to which the applicable
certificateholder has not exercised the Put Option.
Optional Termination: The terms of the transaction allow for a termination
of the Privately Offered Certificates which may be
exercised once the current principal balance of the
Mortgage Loans is equal to 10% or less of the initial
principal balance of the Initial Mortgage Loans as of
the Initial Cut-off Date plus the initial Prefunding
Amount.
Pricing Prepayment
Speed: The Privately Offered Certificates will be priced to
a prepayment speed of 20% CPR.
Rating Agencies: Moody's and S&P will rate the Class B-4 and Class B-5
Certificates. No rating agency will rate the Class
B-6 Certificates.
Initial Mortgage Loans: As of the Statistical Cut-off Date, the initial
aggregate principal balance of the Initial Mortgage
Loans (the "INITIAL POOL BALANCE") was approximately
$389,542,367, which consists of adjustable rate
mortgage loans with various indices. From the
Statistical Cut-off Date to the Initial Cut-off Date,
the principal balance of the Initial Mortgage Loans
may be reduced by principal prepayments. The Initial
Mortgage Loans are secured by first liens on one- to
four-family residential properties. Approximately
49.67% and 49.21% of the Initial Mortgage Loans are
modifiable and convertible, respectively. If a
borrower with such a Mortgage Loan exercises his or
her right to convert such Mortgage Loan's terms, the
Seller will be obligated to repurchase such Mortgage
Loan. For further information, please see the
attached collateral description of the Initial
Mortgage Loans.
GREENWICH CAPITAL
------------------------------------------------------------------------------
MELLON FINANCIAL MARKETS, LLC
3
<PAGE> 21
The information contained herein has been prepared on the basis of information
provided by the issuer or one or more of its affiliates to assist interested
parties in making a preliminary analysis of the proposed transaction and does
not purport to be all-inclusive or to contain all of the information that a
prospective investor may require to make a full analysis of the proposed
transaction. We have not verified any of the information contained herein and
assume no responsibility for the accuracy or completeness thereof. The
information contained herein does not constitute an offer to sell, nor a
solicitation of an offer to buy, any security or other financial instrument. Any
such offer or solicitation may only be made by means of the Private Placement
Memorandum, which will be made available by Greenwich Capital Markets, Inc., the
Initial Purchaser. The terms of this Preliminary Term Sheet are qualified in
their entirety by the information contained in the Private Placement Memorandum,
which will supersede, in its entirety, the terms hereof. This Preliminary Term
Sheet is submitted on a confidential basis to a limited number of institutional
investors and may not be reproduced in whole or in part, nor may it be
distributed or any of its contents disclosed to anyone other than the
prospective investor to whom it has been submitted by the Initial Purchaser.
Terms used but not defined herein shall have the meanings set forth in the
Private Placement Memorandum.
Prefunding Amount: A deposit of approximately $100,000,000 (the initial
"PREFUNDING AMOUNT") will be made to the Prefunding
Account on the Closing Date. On or prior to the
Distribution Date in November 2000, (the "PREFUNDING
PERIOD"), the Prefunding Amount on deposit in the
Prefunding Account will be used to purchase
additional mortgage loans (the "SUBSEQUENT MORTGAGE
LOANS") (to the extent available) having similar
characteristics as the One Month LIBOR indexed
Initial Mortgage Loans (with any portion of such
deposit amount remaining on the last day of such
Prefunding Period to be distributed as principal on
the Certificates).
Capitalized Interest
Amount: On the Closing Date, a deposit (the "CAPITALIZED
INTEREST AMOUNT") will be made to the Capitalized
Interest Account, which will be applied to cover
shortfalls in the amount of interest generated by the
Initial Mortgage Loans due to the prefunding feature,
during the Prefunding Period and the Distribution
Date immediately after the Prefunding Period.
Credit Enhancement: Senior/subordinate, shifting interest structure.
Credit enhancement for the Class B-4 Certificates
will consist of the subordination of the Class B-5
and Class B-6 Certificates (total subordination
initially 0.65%).
Credit enhancement for the Class B-5 Certificates
will consist of the subordination of the Class B-6
Certificates (total subordination initially 0.35%).
The Class B-6 Certificates will not have the benefit
of any credit enhancement.
Shifting Interest: Until the first Distribution Date occurring after
August 2010 the Subordinate Certificates will be
locked out from receipt of any principal (unless the
Senior Certificates are paid down to zero prior to
such date). After such time and subject to standard
collateral performance triggers, the Subordinate
Certificates will receive their pro-rata share of
scheduled principal and increasing portions of
unscheduled principal prepayments. The prepayment
percentages on the Subordinate Certificates are as
follows:
September 2000 - August 2010 0% Pro Rata Share
September 2010 - August 2011 30% Pro Rata Share
September 2011 - August 2012 40% Pro Rata Share
September 2012 - August 2013 60% Pro Rata Share
September 2013 - August 2014 80% Pro Rata Share
September 2014 and after 100% Pro Rata Share
Any principal not allocated to the Subordinate
Certificates will be allocated to the Senior
Certificates. In the event the current senior
percentage (aggregate current senior balance divided
by aggregate current pool balance) exceeds the
initial senior percentage (aggregate initial senior
balance divided by aggregate initial pool balance
plus any initial Prefunding Amount), the Senior
Certificates will receive all unscheduled principal
prepayments, regardless of any prepayment
percentages.
GREENWICH CAPITAL
------------------------------------------------------------------------------
MELLON FINANCIAL MARKETS, LLC
4
<PAGE> 22
The information contained herein has been prepared on the basis of information
provided by the issuer or one or more of its affiliates to assist interested
parties in making a preliminary analysis of the proposed transaction and does
not purport to be all-inclusive or to contain all of the information that a
prospective investor may require to make a full analysis of the proposed
transaction. We have not verified any of the information contained herein and
assume no responsibility for the accuracy or completeness thereof. The
information contained herein does not constitute an offer to sell, nor a
solicitation of an offer to buy, any security or other financial instrument. Any
such offer or solicitation may only be made by means of the Private Placement
Memorandum, which will be made available by Greenwich Capital Markets, Inc., the
Initial Purchaser. The terms of this Preliminary Term Sheet are qualified in
their entirety by the information contained in the Private Placement Memorandum,
which will supersede, in its entirety, the terms hereof. This Preliminary Term
Sheet is submitted on a confidential basis to a limited number of institutional
investors and may not be reproduced in whole or in part, nor may it be
distributed or any of its contents disclosed to anyone other than the
prospective investor to whom it has been submitted by the Initial Purchaser.
Terms used but not defined herein shall have the meanings set forth in the
Private Placement Memorandum.
Allocation of
Realized Losses: Any realized losses, other than excess losses, on the
Mortgage Loans will be allocated as follows: first,
to the Subordinate Certificates in reverse order of
their numerical Class designations, in each case
until the respective Class Principal Balance has been
reduced to zero; thereafter, to the Senior
Certificates pro-rata in reduction of their
respective Class Principal Balances.
Excess losses (bankruptcy, special hazard and fraud
losses in excess of the amounts established by the
rating agencies) will be allocated to all classes of
certificates on a pro-rata basis.
Certificates
Priority of Distributions: Available funds from the Mortgage Loans will be
distributed in the following order of priority:
1) Senior Certificates, accrued and unpaid interest
at the related Certificate Interest Rate.
2) Class A-R Certificate, principal, until its
balance is reduced to zero.
3) Class A-1 Certificates, principal, until its
balance is reduced to zero.
4) Class B-1, Class B-2 and Class B-3 Certificates,
in sequential order, accrued and unpaid interest
at the respective Certificate Interest Rate and
the respective share of principal.
5) Class B-4 Certificates, accrued and unpaid
interest at the Class B-4 Certificate Interest
Rate.
6) Class B-4 Certificates, principal.
7) Class B-5 Certificates, accrued and unpaid
interest at the Class B-5 Certificate Interest
Rate.
8) Class B-5 Certificates, principal.
9) Class B-6 Certificates, accrued and unpaid
interest at the Class B-6 Certificate Interest
Rate.
10) Class B-6 Certificates, principal.
11) Class A-R Certificates, any remaining amount.
5
<PAGE> 23
COMPUTATIONAL MATERIALS DISCLAIMER
The attached tables and other statistical analyses (the "Computational
Materials") are privileged and intended for use by the addressee only. These
Computational Materials have been prepared by Greenwich Capital Markets, Inc.,
the placement agent, in reliance upon information furnished by the issuer of the
securities and its affiliates. These Computational Materials are furnished to
you solely by Greenwich Capital Markets, Inc. and not by the issuer of the
securities. They may not be provided to any third party other than the
addressee's legal, tax, financial and/or accounting advisors for the purposes of
evaluating said material.
Numerous assumptions were used in preparing the Computational Materials which
may or may not be reflected therein. As such, no assurance can be given as to
the Computational Material's accuracy, appropriateness or completeness in any
particular context; nor as to whether the Computational Materials and/or the
assumptions upon which they are based reflect present market conditions or
future market performance. These Computational Materials should not be construed
as either projections or predictions or as legal, tax, financial or accounting
advice.
Any weighted average lives, yields and principal payment periods shown in the
Computational Materials are based on prepayments assumptions, and changes in
such prepayment assumptions may dramatically affect such weighted average lives,
yields and principal payment periods. In addition, it is possible that
prepayments on the underlying assets will occur at rates slower or faster than
the rates shown in the attached Computational Materials. Furthermore, unless
otherwise provided, the Computational Materials assume no losses on the
underlying assets and no interest shortfall. The specific characteristics of the
securities may differ from those shown in the Computational Materials due to
differences between the actual underlying assets and the hypothetical underlying
assets used in preparing the Computational Materials. The principal amount and
designation of any security described in the Computational Materials are subject
to change prior to issuance. Neither Greenwich Capital Markets, Inc. nor any of
its affiliates makes any representation or warranty as to the actual rate of
timing of payments on any of the underlying assets or the payments or yield on
the securities.
This communication shall not constitute an offer to sell or the solicitation of
an offer to buy the securities discussed in this communication. Prospective
purchasers are referred to the final private placement memorandum relating to
the securities discussed in this communication for definitive Computational
Materials and any matter discussed in this communication. A final private
placement memorandum may be obtained by contacting GCM's Trading Desk at (203)
625-6160.
Please be advised that the securities described herein may not be appropriate
for all investors. Potential investors must be willing to assume, among other
things, market price volatility, prepayments, yield curve and interest rate
risks. Investors should make every effort to consider the risks of these
securities.
If you have received this communication in error, please notify the sending
party immediately by telephone and return the original to such party by mail.
6
<PAGE> 24
PRICE YIELD TABLES (%)
<TABLE>
<CAPTION>
CLASS B-4 (TO PUT)
----------------------------------------------------------------------------------------------------------------------------------
Coupon 7.598%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 12% CPR 15% CPR 20% CPR 25% CPR 30% CPR 35% CPR 40% CPR
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
78-12+ 10.871 10.871 10.870 10.869 10.869 10.868 10.867
==========================--------------------------------------------------------------------------------------------------------
WAL (yr) 2.00 2.00 2.00 2.00 2.00 2.00 2.00
MDUR (yr) 1.73 1.73 1.73 1.73 1.73 1.73 1.73
First Prin Pay 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02
Last Prin Pay 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
CLASS B-4 (TO MATURITY)
----------------------------------------------------------------------------------------------------------------------------------
Coupon 7.598%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 12% CPR 15% CPR 20% CPR 25% CPR 30% CPR 35% CPR 40% CPR
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
78-12+ 10.811 10.860 10.930 10.988 11.243 11.608 12.017
==========================--------------------------------------------------------------------------------------------------------
WAL (yr) 16.78 16.09 15.18 14.51 12.40 10.41 8.84
MDUR (yr) 7.78 7.67 7.51 7.39 6.86 6.21 5.61
First Prin Pay 09/15/10 09/15/10 09/15/10 09/15/10 06/15/10 10/15/08 07/15/07
Last Prin Pay 11/15/30 11/15/30 11/15/30 11/15/30 11/15/30 11/15/30 11/15/30
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
CLASS B-5 (TO PUT)
----------------------------------------------------------------------------------------------------------------------------------
Coupon 7.598%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 12% CPR 15% CPR 20% CPR 25% CPR 30% CPR 35% CPR 40% CPR
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
73-18+ 14.557 14.557 14.556 14.555 14.554 14.553 14.552
==========================--------------------------------------------------------------------------------------------------------
WAL (yr) 2.00 2.00 2.00 2.00 2.00 2.00 2.00
MDUR (yr) 1.69 1.69 1.69 1.69 1.69 1.69 1.69
First Prin Pay 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02
Last Prin Pay 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
CLASS B-5 (TO MATURITY)
----------------------------------------------------------------------------------------------------------------------------------
Coupon 7.598%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 12% CPR 15% CPR 20% CPR 25% CPR 30% CPR 35% CPR 40% CPR
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
73-18+ 11.637 11.698 11.784 11.856 12.177 12.638 13.156
==========================--------------------------------------------------------------------------------------------------------
WAL (yr) 16.78 16.09 15.18 14.51 12.40 10.41 8.84
MDUR (yr) 7.50 7.39 7.26 7.14 6.66 6.05 5.47
First Prin Pay 09/15/10 09/15/10 09/15/10 09/15/10 06/15/10 10/15/08 07/15/07
Last Prin Pay 11/15/30 11/15/30 11/15/30 11/15/30 11/15/30 11/15/30 11/15/30
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
"Full Price" = "Flat Price" + Accrued Interest.
Duration and related sensitivities are calculated at midpoint price. Maturity
and Last Principal Pay Dates may be distorted by the use of collateral pool
WAMs.
This information is furnished to you solely by Greenwich Capital Markets, Inc.
("GCM") and not by the Issuer of the securities or any of its affiliates. GCM is
acting as the initial purchaser in connection with the proposed transaction.
7
<PAGE> 25
PRICE YIELD TABLES (%)
<TABLE>
<CAPTION>
CLASS B-6 (TO PUT)
----------------------------------------------------------------------------------------------------------------------------------
Coupon 7.598%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 12% CPR 15% CPR 20% CPR 25% CPR 30% CPR 35% CPR 40% CPR
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
20-00 40.863 40.862 40.859 40.855 40.852 40.848 40.843
=========================---------------------------------------------------------------------------------------------------------
WAL (yr) 2.00 2.00 2.00 2.00 2.00 2.00 2.00
MDUR (yr) 1.19 1.19 1.19 1.19 1.19 1.19 1.19
First Prin Pay 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02
Last Prin Pay 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02 08/15/02
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
CLASS B-6 (TO MATURITY)
----------------------------------------------------------------------------------------------------------------------------------
Coupon 7.598%
----------------------------------------------------------------------------------------------------------------------------------
Flat
Price 12% CPR 15% CPR 20% CPR 25% CPR 30% CPR 35% CPR 40% CPR
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
20-00 42.320 42.409 42.544 42.665 43.480 45.183 47.487
=========================---------------------------------------------------------------------------------------------------------
WAL (yr) 16.78 16.09 15.18 14.51 12.40 10.41 8.84
MDUR (yr) 2.32 2.33 2.34 2.35 2.39 2.42 2.41
First Prin Pay 09/15/10 09/15/10 09/15/10 09/15/10 06/15/10 10/15/08 07/15/07
Last Prin Pay 11/15/30 11/15/30 11/15/30 11/15/30 11/15/30 11/15/30 11/15/30
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
"Full Price" = "Flat Price" + Accrued Interest.
Duration and related sensitivities are calculated at midpoint price. Maturity
and Last Principal Pay Dates may be distorted by the use of collateral pool
WAMs.
This information is furnished to you solely by Greenwich Capital Markets, Inc.
("GCM") and not by the Issuer of the securities or any of its affiliates. GCM is
acting as the initial purchaser in connection with the proposed transaction.
8
<PAGE> 26
MELLON RESIDENTIAL FUNDING CORPORATION SERIES 2000-TBC3
SCHEDULED 07/01/00 BALANCES
<TABLE>
<CAPTION>
TOTAL CURRENT BALANCE: 389,542,367.34
NUMBER OF LOANS: 657
AVG/WAVG MIN MAX
<S> <C> <C> <C>
AVG CURRENT BALANCE: $592,910.76 $12,500.00 $3,000,000.00
AVG ORIGINAL BALANCE: $620,176.77 $12,500.00 $3,000,000.00
WAVG NOTE RATE: 8.049% 4.875 9.125%
WAVG GROSS MARGIN: 1.548% -0.625 2.500%
WAVG MAX INT RATE: 10.909% 10.750 12.750%
WAVG HIGH FICO SCORE: 755 0 839
WAVG LOW FICO SCORE: 735 0 811
WAVG ORIGINAL LTV: 69.10% 10.00 100.00%
WAVG ORIGINAL LTC: 66.35% 0.00 90.00%
WAVG NEXT RATE RESET: 2.59 months 1.00 7.00 months
WAVG ORIGINAL TERM: 360 months 360 360 months
WAVG STATED REMAINING TERM: 338 months 295 360 months
WAVG SEASONING: 22 months 0 65 months
TOP STATE CONC ($): 23.79% California, 14.11% New York, 12.97% Massachusetts
MAXIMUM ZIP CODE CONC ($): 1.70% 94027
FIRST PAY DATE: Mar 01, 1995 Aug 01, 2000
RATE CHANGE DATE: Aug 01, 2000 Feb 01, 2001
MATURITY DATE: Feb 01, 2025 Jul 01, 2030
</TABLE>
The information contained herein has been prepared solely for the use of
Greenwich Capital Markets, Inc. and has not been independently verified by
Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc.
makes no express or implied representations or warranties of any kind and
expressly disclaims all liability for any use or misuse of the contents hereof.
Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of
any material contained herein.
The information contained herein will be superseded by the description of the
mortgage loans contained in the private placement memorandum. Such information
supersedes the information in all prior collateral term sheets, if any.
9
<PAGE> 27
<TABLE>
<CAPTION>
CURRENT
PRINCIPAL BAL ($) PCT($) # OF LOANS PCT(#)
<S> <C> <C> <C> <C>
INDEX:
1 MO LIBOR 155,654,410.12 39.96 253 38.51
6 MO LIBOR 126,369,224.70 32.44 235 35.77
1 MO CD 65,856,610.89 16.91 106 16.13
6 MO FIXED/1MO LIBOR 36,045,700.00 9.25 51 7.76
1 MO PRIME 5,057,914.56 1.30 10 1.52
6 MO CD 558,507.07 0.14 2 0.30
DELINQUENCY:
CURRENT 389,542,367.34 100.00 657 100.00
CURRENT BALANCE: ($)
12,500.00 - 100,000.00 1,053,982.10 0.27 15 2.28
100,000.01 - 200,000.00 5,820,231.24 1.49 36 5.48
200,000.01 - 300,000.00 27,342,777.67 7.02 106 16.13
300,000.01 - 400,000.00 39,305,676.40 10.09 110 16.74
400,000.01 - 500,000.00 41,411,507.60 10.63 90 13.70
500,000.01 - 600,000.00 31,349,967.79 8.05 56 8.52
600,000.01 - 700,000.00 33,487,838.74 8.60 51 7.76
700,000.01 - 800,000.00 34,238,787.25 8.79 45 6.85
800,000.01 - 900,000.00 18,228,374.26 4.68 21 3.20
900,000.01 - 1,000,000.00 46,364,548.37 11.90 47 7.15
1,000,000.01 - 1,100,000.00 39,315,628.19 10.09 36 5.48
1,100,000.01 - 1,200,000.00 7,969,446.32 2.05 7 1.07
1,200,000.01 - 1,300,000.00 7,624,679.74 1.96 6 0.91
1,300,000.01 - 1,400,000.00 8,321,783.85 2.14 6 0.91
1,400,000.01 - 1,500,000.00 7,378,038.34 1.89 5 0.76
1,500,000.01 - 1,600,000.00 9,410,576.68 2.42 6 0.91
1,600,000.01 - 1,700,000.00 1,640,000.00 0.42 1 0.15
1,700,000.01 - 1,800,000.00 3,550,000.00 0.91 2 0.30
1,800,000.01 - 1,900,000.00 1,820,000.00 0.47 1 0.15
1,900,000.01 - 2,000,000.00 2,000,000.00 0.51 1 0.15
2,000,000.01 - 2,100,000.00 4,129,000.00 1.06 2 0.30
2,100,000.01 - 2,200,000.00 2,180,000.00 0.56 1 0.15
2,200,000.01 - 2,300,000.00 4,519,522.80 1.16 2 0.30
2,400,000.01 - 2,500,000.00 2,500,000.00 0.64 1 0.15
2,500,000.01 - 2,600,000.00 2,580,000.00 0.66 1 0.15
2,900,000.01 - 3,000,000.00 6,000,000.00 1.54 2 0.30
</TABLE>
The information contained herein has been prepared solely for the use of
Greenwich Capital Markets, Inc. and has not been independently verified by
Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc.
makes no express or implied representations or warranties of any kind and
expressly disclaims all liability for any use or misuse of the contents hereof.
Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of
any material contained herein.
The information contained herein will be superseded by the description of the
mortgage loans contained in the private placement memorandum. Such information
supersedes the information in all prior collateral term sheets, if any.
10
<PAGE> 28
<TABLE>
<CAPTION>
CURRENT
PRINCIPAL BAL ($) PCT($) # OF LOANS PCT(#)
<S> <C> <C> <C> <C>
NOTE RATE: (%)
4.875 - 5.000 2,050,000.00 0.53 1 0.15
6.751 - 7.000 851,900.00 0.22 2 0.30
7.001 - 7.250 14,174,450.00 3.64 22 3.35
7.251 - 7.500 25,798,180.34 6.62 40 6.09
7.501 - 7.750 64,519,719.99 16.56 113 17.20
7.751 - 8.000 98,508,771.22 25.29 150 22.83
8.001 - 8.250 60,769,498.78 15.60 111 16.89
8.251 - 8.500 91,682,589.27 23.54 163 24.81
8.501 - 8.750 11,912,740.30 3.06 17 2.59
8.751 - 9.000 16,729,833.30 4.29 35 5.33
9.001 - 9.125 2,544,684.14 0.65 3 0.46
GROSS MARGIN: (%)
<= 0.000 3,257,914.56 0.84 8 1.22
0.501 - 0.750 3,665,410.00 0.94 7 1.07
0.751 - 1.000 74,723,201.83 19.18 128 19.48
1.001 - 1.250 44,154,194.23 11.33 70 10.65
1.251 - 1.500 74,852,806.95 19.22 105 15.98
1.501 - 1.750 7,852,514.84 2.02 14 2.13
1.751 - 2.000 170,503,996.60 43.77 309 47.03
2.001 - 2.250 9,973,821.26 2.56 14 2.13
2.251 - 2.500 558,507.07 0.14 2 0.30
MAX INT RATE: (%)
10.750 - 10.750 193,365,450.51 49.64 307 46.73
10.751 - 10.875 104,261,997.67 26.77 173 26.33
10.876 - 11.000 27,117,218.94 6.96 50 7.61
11.001 - 11.125 21,611,023.31 5.55 41 6.24
11.126 - 11.250 20,635,489.53 5.30 42 6.39
11.251 - 11.375 1,071,114.51 0.27 4 0.61
11.376 - 11.500 7,055,169.84 1.81 10 1.52
11.751 - 11.875 418,799.99 0.11 1 0.15
11.876 - 12.000 12,357,069.68 3.17 25 3.81
12.251 - 12.375 1,509,326.28 0.39 3 0.46
12.626 - 12.750 139,707.08 0.04 1 0.15
PERIOD RATE CAP: (%)
0.000 - 0.000 261,464,635.57 67.12 419 63.77
0.751 - 1.000 123,233,645.68 31.64 227 34.55
1.751 - 2.000 558,507.07 0.14 2 0.30
2.751 - 3.000 2,845,901.57 0.73 5 0.76
3.751 - 4.000 246,977.87 0.06 1 0.15
4.751 - 5.000 1,192,699.58 0.31 3 0.46
</TABLE>
The information contained herein has been prepared solely for the use of
Greenwich Capital Markets, Inc. and has not been independently verified by
Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc.
makes no express or implied representations or warranties of any kind and
expressly disclaims all liability for any use or misuse of the contents hereof.
Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of
any material contained herein.
The information contained herein will be superseded by the description of the
mortgage loans contained in the private placement memorandum. Such information
supersedes the information in all prior collateral term sheets, if any.
11
<PAGE> 29
<TABLE>
<CAPTION>
CURRENT
PRINCIPAL BAL ($) PCT($) # OF LOANS PCT(#)
<S> <C> <C> <C> <C>
HIGH FICO SCORE:
N/A 167,237,550.40 42.93 299 45.51
601 - 650 2,033,400.00 0.52 4 0.61
651 - 700 17,144,268.46 4.40 30 4.57
701 - 750 68,543,585.41 17.60 103 15.68
751 - 800 116,728,924.73 29.97 189 28.77
801 - 839 17,854,638.34 4.58 32 4.87
LOW FICO SCORE:
N/A 62,589,593.37 16.07 108 16.44
501 - 550 332,000.00 0.09 1 0.15
601 - 650 10,943,150.52 2.81 19 2.89
651 - 700 58,519,006.34 15.02 91 13.85
701 - 750 123,059,302.70 31.59 200 30.44
751 - 800 127,477,461.99 32.72 223 33.94
801 - 811 6,621,852.42 1.70 15 2.28
ORIGINAL LTV: (%)
10.00 - 10.00 1,000,000.00 0.26 1 0.15
10.01 - 15.00 1,100,000.00 0.28 1 0.15
15.01 - 20.00 2,311,588.54 0.59 3 0.46
20.01 - 25.00 450,500.00 0.12 2 0.30
25.01 - 30.00 3,850,000.00 0.99 6 0.91
30.01 - 35.00 8,012,638.38 2.06 12 1.83
35.01 - 40.00 9,785,245.45 2.51 16 2.44
40.01 - 45.00 10,874,852.49 2.79 20 3.04
45.01 - 50.00 28,487,823.45 7.31 43 6.54
50.01 - 55.00 16,495,901.68 4.23 24 3.65
55.01 - 60.00 25,755,410.34 6.61 30 4.57
60.01 - 65.00 32,782,307.54 8.42 47 7.15
65.01 - 70.00 38,739,698.93 9.94 58 8.83
70.01 - 75.00 45,226,038.29 11.61 71 10.81
75.01 - 80.00 113,696,272.79 29.19 230 35.01
80.01 - 85.00 5,600,409.28 1.44 11 1.67
85.01 - 90.00 11,306,494.64 2.90 18 2.74
90.01 - 95.00 3,744,899.99 0.96 8 1.22
95.01 - 100.00 30,322,285.55 7.78 56 8.52
</TABLE>
The information contained herein has been prepared solely for the use of
Greenwich Capital Markets, Inc. and has not been independently verified by
Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc.
makes no express or implied representations or warranties of any kind and
expressly disclaims all liability for any use or misuse of the contents hereof.
Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of
any material contained herein.
The information contained herein will be superseded by the description of the
mortgage loans contained in the private placement memorandum. Such information
supersedes the information in all prior collateral term sheets, if any.
12
<PAGE> 30
<TABLE>
<CAPTION>
CURRENT
PRINCIPAL BAL ($) PCT($) # OF LOANS PCT(#)
<S> <C> <C> <C> <C>
ORIGINAL LTC: (%)
0.00 1,395,749.99 0.36 3 0.46
0.01 - 5.00 1,000,000.00 0.26 1 0.15
5.01 - 10.00 1,000,000.00 0.26 1 0.15
10.01 - 15.00 1,100,000.00 0.28 1 0.15
15.01 - 20.00 2,311,588.54 0.59 3 0.46
20.01 - 25.00 450,500.00 0.12 2 0.30
25.01 - 30.00 3,850,000.00 0.99 6 0.91
30.01 - 35.00 8,112,638.38 2.08 13 1.98
35.01 - 40.00 11,005,017.86 2.83 18 2.74
40.01 - 45.00 10,874,852.49 2.79 20 3.04
45.01 - 50.00 29,857,823.45 7.66 44 6.70
50.01 - 55.00 16,495,901.68 4.23 24 3.65
55.01 - 60.00 25,755,410.34 6.61 30 4.57
60.01 - 65.00 35,948,712.02 9.23 51 7.76
65.01 - 70.00 44,720,848.93 11.48 66 10.05
70.01 - 75.00 51,951,390.34 13.34 85 12.94
75.01 - 80.00 129,327,690.58 33.20 268 40.79
80.01 - 85.00 4,693,106.85 1.20 8 1.22
85.01 - 90.00 9,691,135.89 2.49 13 1.98
REMAINING TERM: (MONTHS)
295 - 297 1,286,544.30 0.33 4 0.61
298 - 300 7,477,099.66 1.92 17 2.59
301 - 303 3,037,273.97 0.78 6 0.91
304 - 306 4,886,763.01 1.25 10 1.52
307 - 309 3,409,539.27 0.88 8 1.22
310 - 312 15,577,043.62 4.00 26 3.96
313 - 315 27,490,955.43 7.06 53 8.07
316 - 318 36,582,438.48 9.39 62 9.44
319 - 321 31,838,853.27 8.17 54 8.22
322 - 324 38,133,198.99 9.79 63 9.59
325 - 327 20,504,764.26 5.26 38 5.78
328 - 330 3,828,104.94 0.98 6 0.91
331 - 333 113,000.00 0.03 1 0.15
337 - 339 1,108,639.68 0.28 1 0.15
340 - 342 650,000.00 0.17 1 0.15
343 - 345 40,000.00 0.01 1 0.15
346 - 348 1,878,038.34 0.48 2 0.30
358 - 360 191,700,110.12 49.21 304 46.27
</TABLE>
The information contained herein has been prepared solely for the use of
Greenwich Capital Markets, Inc. and has not been independently verified by
Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc.
makes no express or implied representations or warranties of any kind and
expressly disclaims all liability for any use or misuse of the contents hereof.
Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of
any material contained herein.
The information contained herein will be superseded by the description of the
mortgage loans contained in the private placement memorandum. Such information
supersedes the information in all prior collateral term sheets, if any.
13
<PAGE> 31
<TABLE>
<CAPTION>
CURRENT
PRINCIPAL BAL ($) PCT($) # OF LOANS PCT(#)
<S> <C> <C> <C> <C>
RATE CHANGE DATE:
08/01/00 226,568,935.57 58.16 369 56.16
09/01/00 21,320,516.21 5.47 36 5.48
10/01/00 16,751,625.54 4.30 38 5.78
11/01/00 23,629,987.35 6.07 32 4.87
12/01/00 31,649,410.68 8.12 56 8.52
01/01/01 50,194,812.86 12.89 86 13.09
02/01/01 19,427,079.13 4.99 40 6.09
BLANKET FLAG:
NO 376,948,919.68 96.77 639 97.26
YES 12,593,447.66 3.23 18 2.74
PREPAY PENALTY:
PREPAYMENT PENALTY 380,694,192.52 97.73 637 96.96
NO PREPAYMENT PENALTY 8,848,174.82 2.27 20 3.04
AMORTIZATION:
INTEREST ONLY 388,725,662.18 99.79 654 99.54
FULLY AMORTIZING 816,705.16 0.21 3 0.46
CONVERTIBLE FLAG:
NOT CONVERTIBLE 197,842,257.22 50.79 353 53.73
CONVERTIBLE 191,700,110.12 49.21 304 46.27
MODIFIABLE FLAG:
NOT MODIFIABLE 196,042,257.22 50.33 351 53.42
MODIFIABLE 193,500,110.12 49.67 306 46.58
</TABLE>
The information contained herein has been prepared solely for the use of
Greenwich Capital Markets, Inc. and has not been independently verified by
Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc.
makes no express or implied representations or warranties of any kind and
expressly disclaims all liability for any use or misuse of the contents hereof.
Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of
any material contained herein.
The information contained herein will be superseded by the description of the
mortgage loans contained in the private placement memorandum. Such information
supersedes the information in all prior collateral term sheets, if any.
14
<PAGE> 32
<TABLE>
<CAPTION>
CURRENT
PRINCIPAL BAL ($) PCT($) # OF LOANS PCT (#)
<S> <C> <C> <C> <C>
OCCUPANCY:
PRIMARY 309,034,544.09 79.33 522 79.45
SECOND HOME 80,507,823.25 20.67 135 20.55
DOCUMENTATION:
FULL 389,542,367.34 100.00 657 100.00
PROPERTY TYPE:
SINGLE FAMILY 245,479,349.45 63.02 378 57.53
PUD 66,311,690.87 17.02 116 17.66
CONDOMINIUM 35,588,847.70 9.14 70 10.65
COOPERATIVE 28,214,324.58 7.24 71 10.81
BLANKET 12,593,447.66 3.23 18 2.74
2-4 FAMILY 1,354,707.08 0.35 4 0.61
LOAN PURPOSE:
PURCHASE 267,746,756.57 68.73 463 70.47
CASH OUT REFINANCE 72,730,895.10 18.67 102 15.53
RATE/TERM REFINANCE 49,064,715.67 12.60 92 14.00
</TABLE>
The information contained herein has been prepared solely for the use of
Greenwich Capital Markets, Inc. and has not been independently verified by
Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc.
makes no express or implied representations or warranties of any kind and
expressly disclaims all liability for any use or misuse of the contents hereof.
Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of
any material contained herein.
The information contained herein will be superseded by the description of the
mortgage loans contained in the private placement memorandum. Such information
supersedes the information in all prior collateral term sheets, if any.
15
<PAGE> 33
<TABLE>
<CAPTION>
CURRENT
PRINCIPAL BAL ($) PCT($) # OF LOANS PCT(#)
<S> <C> <C> <C> <C>
STATE:
ALABAMA 920,000.00 0.24 2 0.30
ARIZONA 12,296,548.77 3.16 17 2.59
CALIFORNIA 92,658,421.94 23.79 130 19.79
COLORADO 12,772,407.35 3.28 19 2.89
CONNECTICUT 14,720,179.00 3.78 21 3.20
DELAWARE 2,901,749.99 0.74 4 0.61
DISTRICT OF COLUMBIA 1,982,394.99 0.51 6 0.91
FLORIDA 24,491,220.50 6.29 41 6.24
GEORGIA 9,357,510.02 2.40 14 2.13
HAWAII 2,320,623.07 0.60 3 0.46
IDAHO 498,246.55 0.13 1 0.15
ILLINOIS 4,851,548.92 1.25 8 1.22
INDIANA 295,000.00 0.08 1 0.15
KANSAS 369,922.45 0.09 1 0.15
KENTUCKY 1,100,000.00 0.28 1 0.15
MAINE 1,952,908.11 0.50 5 0.76
MARYLAND 8,323,767.97 2.14 15 2.28
MASSACHUSETTS 50,505,889.75 12.97 92 14.00
MICHIGAN 986,921.22 0.25 3 0.46
MINNESOTA 615,000.00 0.16 1 0.15
MISSOURI 247,899.40 0.06 1 0.15
NEVADA 1,608,748.00 0.41 3 0.46
NEW HAMPSHIRE 674,683.85 0.17 2 0.30
NEW JERSEY 13,338,833.55 3.42 26 3.96
NEW MEXICO 1,000,000.00 0.26 1 0.15
NEW YORK 54,959,202.06 14.11 99 15.07
NORTH CAROLINA 2,537,706.25 0.65 5 0.76
OHIO 572,428.60 0.15 3 0.46
OKLAHOMA 224,999.99 0.06 1 0.15
OREGON 2,859,354.95 0.73 6 0.91
PENNSYLVANIA 33,136,527.09 8.51 64 9.74
RHODE ISLAND 1,935,000.00 0.50 4 0.61
SOUTH CAROLINA 2,602,041.67 0.67 4 0.61
TEXAS 9,495,854.72 2.44 17 2.59
UTAH 1,314,715.00 0.34 5 0.76
VERMONT 1,057,000.00 0.27 2 0.30
VIRGINIA 12,577,888.81 3.23 23 3.50
WASHINGTON 1,874,700.00 0.48 3 0.46
WISCONSIN 325,000.00 0.08 1 0.15
WYOMING 3,279,522.80 0.84 2 0.30
</TABLE>
The information contained herein has been prepared solely for the use of
Greenwich Capital Markets, Inc. and has not been independently verified by
Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc.
makes no express or implied representations or warranties of any kind and
expressly disclaims all liability for any use or misuse of the contents hereof.
Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of
any material contained herein.
The information contained herein will be superseded by the description of the
mortgage loans contained in the private placement memorandum. Such information
supersedes the information in all prior collateral term sheets, if any.
16
